Calamos Autocallable Income ETF (CAIE) Delivers Strong First Distribution Following Successful Launch
Calamos (NYSE:CAIE) announced its first distribution for the Calamos Autocallable Income ETF, delivering a 17.48% annualized distribution rate ($0.38592/share) following its June 25th launch. The ETF represents a significant innovation in the $200 billion derivative income market, bringing institutional-quality autocallable strategies to retail investors through an ETF structure.
The fund features a portfolio of 52+ laddered autocallables staggered weekly, with J.P. Morgan as the primary swap counterparty and MerQube Indices providing the underlying methodology. CAIE offers monthly distributions, a 0.74% expense ratio, and aims to democratize sophisticated income strategies previously limited to ultra-high-net-worth investors and institutions.
Calamos (NYSE:CAIE) ha annunciato la sua prima distribuzione per il Calamos Autocallable Income ETF, offrendo un rendimento distribuito annualizzato del 17,48% ($0,38592 per azione) a seguito del lancio del 25 giugno. L'ETF rappresenta un'importante innovazione nel mercato dei derivati a reddito da 200 miliardi di dollari, portando strategie autocallable di qualità istituzionale agli investitori retail tramite una struttura ETF.
Il fondo presenta un portafoglio composto da oltre 52 autocallable a scaletta, distribuiti settimanalmente, con J.P. Morgan come principale controparte swap e MerQube Indices che fornisce la metodologia sottostante. CAIE offre distribuzioni mensili, un rapporto di spesa dello 0,74% e mira a democratizzare strategie di reddito sofisticate precedentemente riservate a investitori ultra-ricchi e istituzioni.
Calamos (NYSE:CAIE) anunció su primera distribución para el Calamos Autocallable Income ETF, entregando una tasa de distribución anualizada del 17,48% ($0,38592 por acción) tras su lanzamiento el 25 de junio. El ETF representa una innovación significativa en el mercado de ingresos por derivados de 200 mil millones de dólares, llevando estrategias autocallables de calidad institucional a inversores minoristas mediante una estructura ETF.
El fondo cuenta con una cartera de más de 52 autocallables escalonados semanalmente, con J.P. Morgan como contraparte principal de swap y MerQube Indices proporcionando la metodología subyacente. CAIE ofrece distribuciones mensuales, una tasa de gastos del 0,74% y tiene como objetivo democratizar estrategias de ingresos sofisticadas que antes estaban limitadas a inversores ultra ricos e instituciones.
Calamos (NYSE:CAIE)는 6월 25일 출시 이후 연환산 배당률 17.48%($0.38592/주)를 제공하는 Calamos Autocallable Income ETF의 첫 배당을 발표했습니다. 이 ETF는 2천억 달러 규모의 파생상품 수익 시장에서 중요한 혁신을 이루며, 기관 수준의 자동콜 전략을 ETF 구조를 통해 개인 투자자에게 제공합니다.
이 펀드는 주간으로 계단식 배치된 52개 이상의 자동콜 상품 포트폴리오를 특징으로 하며, J.P. Morgan이 주요 스왑 상대방이고 MerQube Indices가 기초 방법론을 제공합니다. CAIE는 월별 배당을 제공하며, 0.74%의 운용보수를 가지고 있고, 그동안 초고액 자산가와 기관에 한정되었던 정교한 수익 전략을 대중화하는 것을 목표로 합니다.
Calamos (NYSE:CAIE) a annoncé sa première distribution pour le Calamos Autocallable Income ETF, offrant un taux de distribution annualisé de 17,48 % (0,38592 $ par action) suite à son lancement le 25 juin. Cet ETF représente une innovation majeure sur le marché des revenus dérivés de 200 milliards de dollars, apportant des stratégies autocallables de qualité institutionnelle aux investisseurs particuliers via une structure ETF.
Le fonds présente un portefeuille de plus de 52 autocallables échelonnés chaque semaine, avec J.P. Morgan comme principal contrepartie swap et MerQube Indices fournissant la méthodologie sous-jacente. CAIE offre des distributions mensuelles, un ratio de frais de 0,74 % et vise à démocratiser des stratégies de revenus sophistiquées auparavant réservées aux investisseurs ultra-fortunés et aux institutions.
Calamos (NYSE:CAIE) gab seine erste Ausschüttung für den Calamos Autocallable Income ETF bekannt und erzielte eine annualisierte Ausschüttungsrate von 17,48 % ($0,38592 pro Aktie) nach dem Start am 25. Juni. Der ETF stellt eine bedeutende Innovation im 200-Milliarden-Dollar-Derivate-Einkommensmarkt dar und bringt institutionelle Autocallable-Strategien durch eine ETF-Struktur zu Privatanlegern.
Der Fonds verfügt über ein Portfolio von mehr als 52 wöchentlich gestaffelten Autocallables, wobei J.P. Morgan als Haupt-Swap-Gegenpartei fungiert und MerQube Indices die zugrunde liegende Methodik bereitstellt. CAIE bietet monatliche Ausschüttungen, eine Kostenquote von 0,74 % und zielt darauf ab, anspruchsvolle Einkommensstrategien zu demokratisieren, die zuvor nur Ultra-High-Net-Worth-Investoren und Institutionen vorbehalten waren.
- Strong initial distribution rate of 17.48% annualized
- Successfully democratized institutional-quality autocallable strategies through ETF structure
- Provides daily liquidity and tax-efficient distributions compared to traditional structured products
- Backed by established partners: J.P. Morgan as swap counterparty and MerQube Indices for methodology
- Higher expense ratio of 0.74% compared to traditional ETFs
- Complex investment structure with multiple risk factors
- Income not guaranteed - payments contingent on index performance
- Risk of significant losses if protection barrier (40% down) is breached
Insights
CAIE's 17.48% inaugural distribution validates Calamos' strategy of bringing institutional autocallable products to retail investors via ETF structure.
Calamos has successfully launched their Autocallable Income ETF (CAIE) with an impressive
The ETF's structure is particularly innovative, utilizing a laddered portfolio of 52+ autocallables staggered weekly. This approach creates a steady income stream while addressing the liquidity and transparency limitations that have historically challenged structured products. By packaging these complex derivatives in an ETF wrapper, Calamos has eliminated operational complexities and tax inefficiencies that advisors typically faced when implementing these strategies.
What makes this development particularly noteworthy is the size of the opportunity—autocallables represent approximately
Investors should understand the unique mechanics of autocallable structures: the ETF's income is contingent upon the reference index staying above specified barrier levels (
With an expense ratio of
METRO
- CAIE announces inaugural distribution rate of
17.48% ($0.38 592 - Robust net inflows highlight investor demand for derivative income strategy previously only available to UHNW investors & institutions in structured product market, now democratized in the ETF wrapper with CAIE.
- Strong initial performance validates bringing sophisticated autocallable strategies to market through accessible, liquid and tax-efficient ETF wrapper.
The Fund's inaugural
CEO John Koudounis stated, "CAIE's first distribution represents a pivotal moment in the
The distribution reflects the collective coupons of CAIE's laddered portfolio of 52+ autocallables staggered weekly, successfully delivering the anticipated income stream while providing investors with transparency, daily liquidity and tax-efficient distributions previously unavailable in the autocallable market.
"This first distribution demonstrates our 'easy button' approach to the popular autocallable space is working exactly as designed," said Matt Kaufman, Head of ETFs at Calamos. " Today marks the beginning of a new era—we've brought an entirely new form of derivative income to the ETF market, delivering a differentiated source of high, stable income without being tied to traditional bond factors like duration or credit."
The fund's August 1st ex-dividend date marks the beginning of CAIE's regular monthly distribution schedule, with J.P. Morgan continuing to serve as primary swap counterparty and MerQube Indices providing the underlying autocallable index methodology.
CAIE DISTRIBUTION DETAIL | ||||
DECLARATION DATE | EX DATE | RECORD DATE | PAYABLE DATE | DISTRIBUTION |
07/31/2025 | 08/01/2025 | 08/01/2025 | 08/08/2025 | |
08/29/2025 | 09/02/2025 | 09/02/2025 | 09/08/2025 | --TBD |
09/30/2025 | 10/01/2025 | 10/01/2025 | 10/07/2025 | --TBD |
10/31/2025 | 11/03/2025 | 11/03/2025 | 11/07/2025 | --TBD |
12/22/2025 | 12/23/2025 | 12/23/2025 | 12/30/2025 | --TBD |
FUND DETAILS | |
Ticker | CAIE |
Strategy | 52+ laddered autocallables, staggered weekly |
Coupon Payments | Monthly |
Portfolio Management | Jordan Rosenfeld, Shaheen Iqubal |
Swap Counterparty | J.P. Morgan |
Autocallable Index | MerQube US Large-Cap Vol Advantage Autocallable Index (MQAUTOCL) |
Expense Ratio | 0.74 % |
Listing Exchange | NYSE Arca |
Underlying Autocallable Details | |
Maturity | 5 years |
Coupon Barrier | -40 % |
Maturity Barrier | -40 % |
Autocall Level | Called if reference index is positive after 1 year non-call period |
Reference Index | MerQube US Large Cap Vol Advantage Index |
To learn more, visit Calamos.com/autocall or read Calamos' new whitepaper "From complexity to accessibility: Democratizing autocallable yield notes through ETF innovation".
About Calamos
Calamos is a diversified global investment firm, headquartered in the
1As of 7/31/25. The Distribution Rate represents a single distribution from the Fund and is not a representation of the Fund's total return. is calculated by multiplying the most recent distribution by 12 in order to annualize it, and then dividing by the Fund's NAV.
Before investing, carefully consider the fund's investment objectives, risks, and charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-866-363-9219. Read it carefully before investing.
Calamos Investments LLC, referred to herein Calamos is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP, and Calamos Financial Services LLC.
The Fund enters into swap agreements with J.P. Morgan to obtain exposure to the MerQube US Large Cap Vol Advantage Autocallable Index. J.P. Morgan is not an advisor, promoter, in any way affiliated with the Fund and has no responsibility for the Fund's performance, marketing, or trading, or any responsibility regarding the suitability of the Fund as an investment.
An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.
Investing involves risks. Loss of principal is possible. The Fund(s) face numerous market trading risks, including authorized participation concentration risk, cap change risk, capital protection risk, capped upside risk, cash holdings risk, clearing member default risk, correlation risk, derivatives risk, equity securities risk, investment timing risk, large-capitalization investing risk, liquidity risk, market maker risk, market risk, non-diversification risk, options risk, premium-discount risk, secondary market trading risk, sector risk, tax risk, trading issues risk, underlying ETF risk and valuation risk. For a detailed list of fund risks see the prospectus.
The principal risks of investing in the Calamos Autocallable Income ETF include: autocallable structure risk, contingent income risk, early redemption risk, barrier risk, authorized participant concentration risk, calculation methodology risk, cash holdings risk, correlation risk, costs of buying and selling fund shares, counterparty risk, credit risk, derivatives risk, equity securities risk, index risk, interest rate risk, investment in a subsidiary, laddered portfolio risk, liquidity risk, market maker risk, market risk, new fund risk, non-diversification risk, premium-discount risk, secondary market trading risk, swap agreement risk, tax risk, trading issues risk, valuation risk, and volatility target index risk.
Autocallable Structure Risk --The Fund's returns are correlated to the performance of a synthetic portfolio of autocallable notes tracked by the Laddered Autocall Index. Autocallable notes have specific structural features that may be unfamiliar to many investors:
--Contingent Income Risk: Coupon payments from the Autocalls are not guaranteed and will not be made if the Underlying Index falls below the Coupon Barrier on observation dates. This means the Fund may generate significantly less income than anticipated during market downturns.
--Early Redemption Risk: Autocalls in the Portfolio may be called before their scheduled maturity if the Underlying Reference Index reaches or exceeds the Autocall Barrier on observation dates. This automatic early redemption could force reinvestment of that portion of the portfolio at lower rates if market yields have declined.
--Barrier Risk: If the Underlying Reference Index falls below the Protection Level Barrier at the maturity of an Autocall in the Portfolio, that portion of the Portfolio will be fully exposed to the negative performance of the Underlying Reference Index from its initial level. This conditional protection creates a binary outcome that can result in sudden, significant losses if barriers are breached.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value of an investment will fluctuate so that your shares, when sold, may be worth more or less than their original cost.
Calamos and its representatives do not provide tax or legal advice. Each individual's tax and financial situation is unique. Individuals should consult their tax and/or legal advisor for advice and information concerning their particular situation.
Calamos Financial Services LLC, Distributor
© 2025 Calamos Investments LLC. All Rights Reserved. Calamos® and Calamos Investments® are registered trademarks of Calamos Investments LLC.
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SOURCE Calamos Investments
FAQ
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