Data as of Nov 4, 2026.
CAIQ vs PAPI: Dividend Yield & Total Return
CAIQ and PAPI both write options for income.
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Net assets: $286m on Jul 31, 2026 for Calamos Nasdaq Autocallable Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.
5.7 pts behind QQQ
CAIQ since launch: paid 16.8%, price −4.1%, total +13.0%, QQQ +18.7%, −5.7 pts. Data to Nov 4, 2026.
QQQ
+18.7%
CAIQ
+13.0%
16.8% of it arrived as cash
5.7 pts behind QQQ
Total return, distributions reinvested
5.7 pts behind QQQ
CAIQ since launch: paid 16.8%, price −4.1%, total +13.0%, QQQ +18.7%, −5.7 pts. Data to Nov 4, 2026.
QQQ
+18.7%
CAIQ
+13.0%
5.7 pts behind QQQ
16.8% of it arrived as cash. Total return, distributions reinvested. CAIQ since launch: paid 16.8%, price −4.1%, total +13.0%, QQQ +18.7%, −5.7 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.9.4 pts behind IWD
PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.
IWD
+32.8%
PAPI
+23.4%
8.2% as cash
9.4 pts behind IWD
Total return, distributions reinvested
9.4 pts behind IWD
PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.
IWD
+32.8%
PAPI
+23.4%
9.4 pts behind IWD
8.2% of it arrived as cash. Both charts share one scale, with zero at the line. PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PAPI costs 0.45 points a year less.
Points (pts) are percentage points.
| Measure | CAIQ | PAPI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | not published | +23.4% |
| Price change | fell 4.1% (since Nov 20, 2025) | rose 14.3% (1 year) |
| Return of capital, issuer estimate | 100% of the Nov 9, 2026 payment | |
| Against its benchmark | ||
| Benchmark | Nasdaq-100, measured through QQQ | iShares Russell 1000 Value ETF, measured through IWD |
| Cost and size | ||
| Expense ratio | 0.74% | 0.29% |
| Net assets, CAIQ as of Jul 31, 2026 and PAPI as of Jun 30, 2026 | $286m | $400m |
| Holdings | ||
| Holdings in common | 0% | |
What they share
By the books each fund has filed, CAIQ and PAPI hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | CAIQ | PAPI | CAIQ | PAPI | CAIQ | PAPI |
| 3 months | −2.9% | +6.6% | 4.5% | 1.8% | +0.6 pts | +2.6 pts |
| 6 months | −1.9% | +13.2% | 8.6% | 3.9% | −1.6 pts | −0.7 pts |
| 1 year | – | +23.4% | – | 8.2% | – | −9.4 pts |
| 3 years | – | +44.5% | – | 23.7% | – | −39.8 pts |
| Since launchNot the same days: CAIQ Nov 2025 · PAPI Oct 2023 | +13.0% | +45.5% | 16.8% | 23.9% | −5.7 pts | −42.4 pts |
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CAIQ
Over the period from its first trade on Nov 20, 2025 to Nov 4, 2026, CAIQ paid 16.8% of its starting value in cash distributions while its price fell 4.1%. With every distribution reinvested, the fund returned +13.0%. Nasdaq-100 (QQQ) returned +18.7% over the same days, so a holder was behind by 5.7 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 19.6%, paid monthly. Calamos estimates that 100% of the distribution paid Nov 9, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
PAPI
Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting value in cash distributions while its price rose 14.3%. With every distribution reinvested, the fund returned +23.4%. iShares Russell 1000 Value ETF (IWD) returned +32.8% over the same days, so a holder was behind by 9.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.8%, paid monthly.
Questions people ask
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, CAIQ against PAPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/caiq-vs-papi
ETFIQ. (Nov 4, 2026). CAIQ against PAPI. Retrieved from https://etfiq.com/compare/income/caiq-vs-papi
[CAIQ against PAPI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/caiq-vs-papi)
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