CAIQ vs MSR: which paid, and which earned it?
CAIQ and MSR both write options for income. Calamos Nasdaq Autocallable Income ETF and GraniteShares Autocallable MSTR ETF.
7.3 pts behind QQQ
CAIQ since launch: paid 13.7%, price +4.7%, total +19.6%, QQQ +26.9%, −7.3 pts.
QQQ
+26.9%
CAIQ
+19.6%
13.7% as cash
7.3 pts behind QQQ
Total return, distributions reinvested
7.3 pts behind QQQ
CAIQ since launch: paid 13.7%, price +4.7%, total +19.6%, QQQ +26.9%, −7.3 pts.
QQQ
+26.9%
CAIQ
+19.6%
7.3 pts behind QQQ
13.7% of it arrived as cash. Total return, distributions reinvested. CAIQ since launch: paid 13.7%, price +4.7%, total +19.6%, QQQ +26.9%, −7.3 pts.
16.6 pts behind MSTR
MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
MSTR
−17.0%
MSR
−33.6%
16.6 pts behind MSTR
Total return, distributions reinvested
16.6 pts behind MSTR
MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
MSTR
−17.0%
MSR
−33.6%
16.6 pts behind MSTR
5.2% of it arrived as cash. Both charts share one scale, 0 to +26.9%. MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
What they hold in common
By the books each fund has filed, CAIQ and MSR 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 and Jun 30, 2026.
half
0% in common
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.
Performance, window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | CAIQ | MSR | CAIQ | MSR | CAIQ | MSR |
| 3 months | +2.6% | +14.9% | 2.9% | 4.1% | +0.5 pts | −49.0 pts |
| 6 months | +18.4% | not published | 8.0% | not published | −8.4 pts | not published |
| Since launch CAIQ Nov 2025 · MSR May 2026 | +19.6% | −33.6% | 13.7% | 5.2% | −7.3 pts | −16.6 pts |
CAIQ and MSR over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
CAIQ and MSR on the same fields, as of Sep 30, 2026. Source: ETFIQ.
CAIQ in plain words
Over the period since launch on Nov 20, 2025 to Sep 30, 2026, CAIQ paid 13.7% of its starting value in cash distributions while its price rose 4.7%. With every distribution reinvested, the fund returned +19.6%. Nasdaq-100 (QQQ) returned +26.9% over the same days, so a holder was behind by 7.3 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 17.5%, paid monthly.
MSR in plain words
Over the period since launch on May 12, 2026 to Sep 30, 2026, MSR paid 5.2% of its starting value in cash distributions while its price fell 38.4%. With every distribution reinvested, the fund returned −33.6%. MicroStrategy (MSTR) returned −17.0% over the same days, so a holder was behind by 16.6 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 44.3%, paid periodically. GraniteShares estimates that 0% 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
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.
ETFIQ, CAIQ against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/caiq-vs-msr
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, CAIQ against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/caiq-vs-msr Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CAIQ against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/caiq-vs-msr
- APA
- ETFIQ. (Sep 30, 2026). CAIQ against MSR. Retrieved from https://etfiq.com/compare/income/caiq-vs-msr
- Markdown
- [CAIQ against MSR (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/income/caiq-vs-msr)