Which is cheaper, CAIE or PAYH?

CAIE and PAYH both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

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CAIE vs PAYH: Dividend Yield & Total Return

CAIE and PAYH both write options for income. Net assets on Jul 31, 2026: $1.2bn for Calamos Autocallable Income ETF and $26m for TrueShares S&P Autocallable High Income ETF.

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Answers cite the figures on this page.

Both cost 0.74% a year; CAIE is far larger, $1.2bn against $26m.

Points (pts) are percentage points.

CAIE vs PAYH: Dividend Yield & Total Return
	CAIE	PAYH
Expense ratio	0.74%	0.74%
Net assets, as of Jul 31, 2026	$1.2bn	$26m
Total return, 1 year	+12.1%	not published
Benchmark	S&P 500, measured through SPY	not published
Holdings in common	0%
Price change	fell 2.8% (1 year)	fell 0.8% (since Dec 30, 2025)

Holdings in common uses holdings dated Jul 31, 2026.

14.1%

CAIE cash paid, 1 year

12.1%

PAYH cash paid, since launch, Dec 30, 2025

+12.1%

CAIE total return, 1 year

+12.4%

PAYH total return, since launch, Dec 30, 2025

CAIE · 1 year to Oct 20, 20263.7 pts behind SPY

CAIE

+12.1%

SPY

+15.8%

3.7 pts behind SPY

CAIE over 1 year: paid 14.1%, price −2.8%, total +12.1%, SPY +15.8%, −3.7 pts. Figures to Oct 20, 2026.

SPY

+15.8%

CAIE

+12.1%

14.1% of it arrived as cash

3.7 pts behind SPY

Total return, distributions reinvested

3.7 pts behind SPY

CAIE over 1 year: paid 14.1%, price −2.8%, total +12.1%, SPY +15.8%, −3.7 pts. Figures to Oct 20, 2026.

SPY

+15.8%

CAIE

+12.1%

14.1% as cash

3.7 pts behind SPY

14.1% of it arrived as cash. Total return, distributions reinvested. CAIE over 1 year: paid 14.1%, price −2.8%, total +12.1%, SPY +15.8%, −3.7 pts. Figures to Oct 20, 2026.

Figures to Oct 20, 2026.

PAYH · since launch to Oct 20, 2026Not measured

PAYH

+12.4%

none

Not measured

PAYH since launch: paid 12.1%, price −0.8%, total +12.4%, not measured against a benchmark. Figures to Oct 20, 2026.

PAYH

+12.4%

12.1% of it arrived as cash

Total return, distributions reinvested

Not measured

PAYH since launch: paid 12.1%, price −0.8%, total +12.4%, not measured against a benchmark. Figures to Oct 20, 2026.

PAYH

+12.4%

12.1% as cash

12.1% of it arrived as cash. Both charts share one scale, with zero at the line. PAYH since launch: paid 12.1%, price −0.8%, total +12.4%, not measured against a benchmark. Figures to Oct 20, 2026.

Figures to Oct 20, 2026.

What they hold in common

By the books each fund has filed, CAIE and PAYH hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding CAIE PAYH

Only in CAIE

Calamos Tax-Aware Collateral ETF 79.32%

Only in PAYH

Check overlap with more funds →

Performance, window by window

Performance, window by window: CAIE vs PAYH: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	CAIE	PAYH	CAIE	PAYH	CAIE	PAYH
3 months	+2.1%	+4.4%	3.5%	4.2%	−1.0 pts	not measured
6 months	+6.9%	+7.5%	7.1%	8.4%	−2.8 pts	not measured
1 year	+12.1%	–	14.1%	–	−3.7 pts	–
Since launch Not the same days: CAIE Jun 2025 · PAYH Dec 2025	+27.1%	+12.4%	19.4%	12.1%	−1.3 pts	not measured

Source: ETFIQ. – means no data for this window, usually because the fund is younger than it. Open this comparison in the app →

On the same fields

CAIE

Calamos Autocallable Income ETF · Autocallable on SPY, paying monthly

PAYH

TrueShares S&P Autocallable High Income ETF · Autocallable, paying monthly

Issuer Calamos TrueShares

Strategy autocallable autocallable

Benchmark S&P 500 (SPY) none

Pays monthly monthly

Payout rate, annualized 14.2% 16.9%

Expense ratio 0.74% 0.74%

Cash paid, 1 year 14.1% 12.1% (since launch, Dec 30, 2025)

Price change, 1 year −2.8% −0.8% (since launch, Dec 30, 2025)

Total return, 1 year +12.1% +12.4% (since launch, Dec 30, 2025)

Benchmark return, 1 year +15.8% not published

Ahead or behind −3.7 pts not available

Return of capital, latest estimate not published not published

Age 1.3 years 294 days

Net assets, as of Jul 31, 2026 $1.2bn $26m

As of Oct 20, 2026. Source: ETFIQ. Cash paid is what the fund distributed over the window, as a share of its price at the start. Payout rate is its latest payment, annualized, over today’s price.

About CAIE

Over the year to Oct 20, 2026, CAIE paid 14.1% of its starting value in cash distributions while its price fell 2.8%. With every distribution reinvested, the fund returned +12.1%. S&P 500 (SPY) returned +15.8% over the same days, so a holder was behind by 3.7 pts. At its price on Oct 20, 2026 the latest distribution annualizes to 14.2%, paid monthly.

About PAYH

Over the period from its first trade on Dec 30, 2025 to Oct 20, 2026, PAYH paid 12.1% of its starting value in cash distributions while its price fell 0.8%. With every distribution reinvested, the fund returned +12.4%. At its price on Oct 20, 2026 the latest distribution annualizes to 16.9%, paid monthly.

Questions people ask

Which is cheaper, CAIE or PAYH?: CAIE and PAYH both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

CAIE vs MSR CAIE vs VAIE CAIE vs ANV CAIE vs TLA PAYH vs JANJ PAYH vs JULJ PAYH vs JANH PAYH vs JULH

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →CAIE on its own →PAYH on its own →CAIE dividend history →CAIE holdings →PAYH dividend history →How every figure is computed →Standards and sources →

Where these figures came from

CAIE filings on SEC EDGAR ↗CAIE prospectus with the expense ratio (SEC) ↗Calamos website ↗PAYH filings on SEC EDGAR ↗PAYH prospectus with the expense ratio (SEC) ↗TrueShares website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, CAIE against PAYH, data as of Oct 20, 2026. https://etfiq.com/compare/income/caie-vs-payh

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.