CAIE vs SCA: which paid, and which earned it?

CAIE and SCA both write options for income. Calamos Autocallable Income ETF and GraniteShares Autocallable SMCI ETF.

14.0%
CAIE cash paid, 1 year
12.8%
SCA cash paid, since launch
+11.8%
CAIE total return, 1 year
+17.8%
SCA total return, since launch
CAIE · 1 year to Sep 30, 20263.9 pts behind SPY
CAIE
+11.8%
SPY
+15.7%

3.9 pts behind SPY

CAIE over 1 year: paid 14.0%, price −3.1%, total +11.8%, SPY +15.7%, −3.9 pts.

SPY

+15.7%

CAIE

+11.8%

14.0% of it arrived as cash

3.9 pts behind SPY

Total return, distributions reinvested

3.9 pts behind SPY

CAIE over 1 year: paid 14.0%, price −3.1%, total +11.8%, SPY +15.7%, −3.9 pts.

SPY

+15.7%

CAIE

+11.8%

14.0% cash

3.9 pts behind SPY

14.0% of it arrived as cash. Total return, distributions reinvested. CAIE over 1 year: paid 14.0%, price −3.1%, total +11.8%, SPY +15.7%, −3.9 pts.

SCA · since launch to Sep 30, 202610.3 pts ahead of SMCI
SCA
+17.8%
SMCI
+7.5%

10.3 pts ahead of SMCI

SCA since launch: paid 12.8%, price +2.9%, total +17.8%, SMCI +7.5%, +10.3 pts.

SMCI

+7.5%

SCA

+17.8%

12.8% of it arrived as cash

10.3 pts ahead of SMCI

Total return, distributions reinvested

10.3 pts ahead of SMCI

SCA since launch: paid 12.8%, price +2.9%, total +17.8%, SMCI +7.5%, +10.3 pts.

SMCI

+7.5%

SCA

+17.8%

12.8% as cash

10.3 pts ahead of SMCI

12.8% of it arrived as cash. Both charts share one scale, 0 to +17.8%. SCA since launch: paid 12.8%, price +2.9%, total +17.8%, SMCI +7.5%, +10.3 pts.

Performance, window by window

Total returnCash paidAgainst the benchmark
WindowCAIESCACAIESCACAIESCA
3 months+0.9%+38.2%2.3%8.0%−1.6 pts−10.4 pts
6 months+13.2%not published6.3%not published−3.8 ptsnot published
1 year+11.8%not published14.0%not published−3.9 ptsnot published
Since launch
CAIE Jun 2025 · SCA May 2026
+26.1%+17.8%18.1%12.8%−1.2 pts+10.3 pts

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

On the same fields

CAIE
Calamos Autocallable Income ETF · Autocallable on SPY, paying monthly
SCA
GraniteShares Autocallable SMCI ETF · Autocallable on SMCI, paying monthly
Issuer Calamos GraniteShares
Strategy autocallable autocallable
Benchmark S&P 500 (SPY), used as a default proxy Super Micro (SMCI)
Pays monthly monthly
Payout rate, annualized 14.1% 36.6%
Expense ratio 0.74% 1.07%
Cash paid, 1 year 14.0% 12.8% (since launch on May 27, 2026)
Price change, 1 year −3.1% +2.9%
Total return, 1 year +11.8% +17.8% (since launch on May 27, 2026)
Benchmark return, 1 year +15.7% +7.5%
Ahead or behind −3.9 pts +10.3 pts
Return of capital, latest estimate not published 29%
Age 462 days 126 days
Net assets $872m $2m

CAIE and SCA on the same fields, as of Sep 30, 2026. Source: ETFIQ.

CAIE in plain words

Over the year to Sep 30, 2026, CAIE paid 14.0% of its starting value in cash distributions while its price fell 3.1%. With every distribution reinvested, the fund returned +11.8%. S&P 500 (SPY), used as a default proxy returned +15.7% over the same days, so a holder was behind by 3.9 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 14.1%, paid monthly.

SCA in plain words

Over the period since launch on May 27, 2026 to Sep 30, 2026, SCA paid 12.8% of its starting value in cash distributions while its price rose 2.9%. With every distribution reinvested, the fund returned +17.8%. Super Micro (SMCI) returned +7.5% over the same days, so a holder was ahead by 10.3 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 36.6%, paid monthly. GraniteShares estimates that 29% of the distribution paid Sep 11, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

Questions people ask

Which is cheaper, CAIE or SCA?
CAIE charges 0.74% a year and SCA charges 1.07%, so CAIE is cheaper. Fees come from each fund's prospectus.
Cite this page

ETFIQ, CAIE against SCA, data as of Sep 30, 2026. https://etfiq.com/compare/income/caie-vs-sca

Open data

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