CAGE vs TLA: which paid, and which earned it?
CAGE and TLA both write options for income. Calamos Autocallable Growth ETF and GraniteShares Autocallable TSLA ETF.
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.
26.3 pts ahead of TSLA
TLA since launch: paid 11.1%, price −1.4%, total +10.4%, TSLA −15.9%, +26.3 pts.
TSLA
−15.9%
TLA
+10.4%
11.1% of it arrived as cash
26.3 pts ahead of TSLA
Total return, distributions reinvested
26.3 pts ahead of TSLA
TLA since launch: paid 11.1%, price −1.4%, total +10.4%, TSLA −15.9%, +26.3 pts.
TSLA
−15.9%
TLA
+10.4%
26.3 pts ahead of TSLA
11.1% of it arrived as cash. Both charts share one scale, 0 to +14.4%. TLA since launch: paid 11.1%, price −1.4%, total +10.4%, TSLA −15.9%, +26.3 pts.
Performance, window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | CAGE | TLA | CAGE | TLA | CAGE | TLA |
| 3 months | +3.7% | +3.3% | 0.0% | 3.1% | +1.1 pts | +19.9 pts |
| 6 months | not published | +11.2% | not published | 8.2% | not published | +18.1 pts |
| Since launch CAGE Apr 2026 · TLA Feb 2026 | +14.4% | +10.4% | 0.0% | 11.1% | +5.2 pts | +26.3 pts |
CAGE and TLA 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 and TLA 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.
TLA in plain words
Over the period since launch on Feb 3, 2026 to Sep 30, 2026, TLA paid 11.1% of its starting value in cash distributions while its price fell 1.4%. With every distribution reinvested, the fund returned +10.4%. Tesla (TSLA) returned −15.9% over the same days, so a holder was ahead by 26.3 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 18.4%, paid monthly. GraniteShares estimates that 4% of the distribution paid Jun 5, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
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ETFIQ, CAGE against TLA, data as of Sep 30, 2026. https://etfiq.com/compare/income/cage-vs-tla
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, CAGE against TLA, data as of Sep 30, 2026. https://etfiq.com/compare/income/cage-vs-tla Free to use with attribution; the underlying files are at Open data.
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