Which is cheaper, CAGE or DACL?

CAGE charges 0.74% a year and DACL charges 0.65%, so DACL is cheaper. Fees come from each fund's prospectus.

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CAGE vs DACL: which paid, and which earned it?

CAGE and DACL both write options for income. Calamos Autocallable Growth ETF and REX Defensive Autocallable Income ETF.

0.0%

CAGE cash paid, since launch

0.6%

DACL cash paid, since launch

+14.4%

CAGE total return, since launch

+0.5%

DACL total return, since launch

CAGE · since launch to Sep 30, 20265.2 pts ahead of SPY

CAGE

+14.4%

SPY

+9.2%

5.2 pts ahead of SPY

CAGE since launch: paid 0.0%, price +14.4%, total +14.4%, SPY +9.2%, +5.2 pts.

SPY

+9.2%

CAGE

+14.4%

5.2 pts ahead of SPY

Total return, distributions reinvested

5.2 pts ahead of SPY

CAGE since launch: paid 0.0%, price +14.4%, total +14.4%, SPY +9.2%, +5.2 pts.

SPY

+9.2%

CAGE

+14.4%

5.2 pts ahead of SPY

0.0% of it arrived as cash. Total return, distributions reinvested. CAGE since launch: paid 0.0%, price +14.4%, total +14.4%, SPY +9.2%, +5.2 pts.

DACL · since launch to Sep 30, 20262.2 pts ahead of SPY

DACL

+0.5%

SPY

−1.7%

2.2 pts ahead of SPY

DACL since launch: paid 0.6%, price −0.1%, total +0.5%, SPY −1.7%, +2.2 pts.

SPY

−1.7%

DACL

+0.5%

2.2 pts ahead of SPY

Total return, distributions reinvested

2.2 pts ahead of SPY

DACL since launch: paid 0.6%, price −0.1%, total +0.5%, SPY −1.7%, +2.2 pts.

SPY

−1.7%

DACL

+0.5%

2.2 pts ahead of SPY

0.6% of it arrived as cash. Both charts share one scale, 0 to +14.4%. DACL since launch: paid 0.6%, price −0.1%, total +0.5%, SPY −1.7%, +2.2 pts.

Performance, window by window

	Total return		Cash paid		Against the benchmark
Window	CAGE	DACL	CAGE	DACL	CAGE	DACL
3 months	+3.7%	not published	0.0%	not published	+1.1 pts	not published
Since launch CAGE Apr 2026 · DACL Aug 2026	+14.4%	+0.5%	0.0%	0.6%	+5.2 pts	+2.2 pts

CAGE and DACL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CAGE

Calamos Autocallable Growth ETF · Autocallable on SPY

DACL

REX Defensive Autocallable Income ETF · Autocallable on SPY

Issuer Calamos REX

Strategy autocallable autocallable

Benchmark S&P 500 (SPY), used as a default proxy S&P 500 (SPY), used as a default proxy

Pays not established not established

Payout rate, annualized not published 6.6%

Expense ratio 0.74% 0.65%

Cash paid, 1 year 0.0% (since launch on Apr 16, 2026) 0.6% (since launch on Aug 13, 2026)

Price change, 1 year +14.4% −0.1%

Total return, 1 year +14.4% (since launch on Apr 16, 2026) +0.5% (since launch on Aug 13, 2026)

Benchmark return, 1 year +9.2% −1.7%

Ahead or behind +5.2 pts +2.2 pts

Return of capital, latest estimate not published not published

Age 167 days 48 days

Net assets $14m $4m

CAGE and DACL on the same fields, as of Sep 30, 2026. Source: ETFIQ.

CAGE in plain words

Over the period since launch on Apr 16, 2026 to Sep 30, 2026, CAGE paid 0.0% of its starting value in cash distributions while its price rose 14.4%. With every distribution reinvested, the fund returned +14.4%. S&P 500 (SPY), used as a default proxy returned +9.2% over the same days, so a holder was ahead by 5.2 pts.

DACL in plain words

Over the period since launch on Aug 13, 2026 to Sep 30, 2026, DACL paid 0.6% of its starting value in cash distributions while its price fell 0.1%. With every distribution reinvested, the fund returned +0.5%. S&P 500 (SPY), used as a default proxy returned −1.7% over the same days, so a holder was ahead by 2.2 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 6.6%, paid periodically.

Questions people ask

Which is cheaper, CAGE or DACL?: CAGE charges 0.74% a year and DACL charges 0.65%, so DACL is cheaper. Fees come from each fund's prospectus.

Other comparisons

CAGE vs SCA CAGE vs TLA CAGE vs ACBE CAGE vs CAIE DACL vs TLA DACL vs CAIQ DACL vs IACL DACL vs JANH

S&P 500 (SPY) →CAGE on its own →DACL on its own →How every figure is computed →Standards and sources →

Where these figures came from

CAGE filings on SEC EDGAR ↗CAGE prospectus with the expense ratio (SEC) ↗Calamos website ↗DACL filings on SEC EDGAR ↗DACL prospectus with the expense ratio (SEC) ↗REX page for DACL ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CAGE against DACL, data as of Sep 30, 2026. https://etfiq.com/compare/income/cage-vs-dacl

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.