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

CAGE and JANJ both write options for income. Calamos Autocallable Growth ETF and Innovator Premium Income 30 Barrier ETF - January.

0.0%
CAGE cash paid, since launch
5.0%
JANJ cash paid, 1 year
+14.4%
CAGE total return, since launch
+5.2%
JANJ total return, 1 year
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.

JANJ · 1 year to Sep 30, 202610.5 pts behind SPY
JANJ
+5.2%
SPY
+15.7%

10.5 pts behind SPY

JANJ over 1 year: paid 5.0%, price 0.0%, total +5.2%, SPY +15.7%, −10.5 pts.

SPY

+15.7%

JANJ

+5.2%

5.0% of it arrived as cash

10.5 pts behind SPY

Total return, distributions reinvested

10.5 pts behind SPY

JANJ over 1 year: paid 5.0%, price 0.0%, total +5.2%, SPY +15.7%, −10.5 pts.

SPY

+15.7%

JANJ

+5.2%

10.5 pts behind SPY

5.0% of it arrived as cash. Both charts share one scale, 0 to +15.7%. JANJ over 1 year: paid 5.0%, price 0.0%, total +5.2%, SPY +15.7%, −10.5 pts.

What they hold in common

By the books each fund has filed, CAGE and JANJ hold 0% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding CAGE JANJ
Only in CAGE
Calamos Tax-Aware Collateral ETF 100.00%
Only in JANJ
TREASURY BILL 97.55%
TREASURY BILL 1.23%
TREASURY BILL 1.22%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Performance, window by window

Total returnCash paidAgainst the benchmark
WindowCAGEJANJCAGEJANJCAGEJANJ
3 months+3.7%+1.5%0.0%1.3%+1.1 pts−1.1 pts
6 monthsnot published+4.3%not published2.5%not published−12.7 pts
1 yearnot published+5.2%not published5.0%not published−10.5 pts
Since launch
CAGE Apr 2026 · JANJ Jan 2024
+14.4%+16.2%0.0%14.5%+5.2 pts−50.5 pts

CAGE and JANJ 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
JANJ
Innovator Premium Income 30 Barrier ETF - January · Defined income on SPY, paying quarterly
Issuer Calamos Innovator
Strategy autocallable defined income
Benchmark S&P 500 (SPY), used as a default proxy S&P 500 (SPY)
Pays not established quarterly
Payout rate, annualized not published 5.0%
Expense ratio 0.74% 0.79%
Cash paid, 1 year 0.0% (since launch on Apr 16, 2026) 5.0%
Price change, 1 year +14.4% 0.0%
Total return, 1 year +14.4% (since launch on Apr 16, 2026) +5.2%
Benchmark return, 1 year +9.2% +15.7%
Ahead or behind +5.2 pts −10.5 pts
Return of capital, latest estimate not published not published
Age 167 days 1002 days
Net assets $14m $14m

CAGE and JANJ 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.

JANJ in plain words

Over the year to Sep 30, 2026, JANJ paid 5.0% of its starting value in cash distributions while its price rose 0.0%. With every distribution reinvested, the fund returned +5.2%. S&P 500 (SPY) returned +15.7% over the same days, so a holder was behind by 10.5 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 5.0%, paid quarterly.

Questions people ask

Which is cheaper, CAGE or JANJ?
CAGE charges 0.74% a year and JANJ charges 0.79%, so CAGE is cheaper. Fees come from each fund's prospectus.
Cite this page

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

Open data

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