Calamos Launches Next Autocallable ETF With Nasdaq-100 Focus

Core Insights - The Calamos Nasdaq Autocallable Income ETF (CAIQ) was launched on November 20, 2025, to provide investors with stable, higher, and predictable income amidst traditional yield challenges and equity market volatility [1][6]. Group 1: Product Overview - CAIQ aims to deliver high monthly income and potential long-term principal appreciation through a portfolio of autocallable yield notes linked to the performance of a stable-volatility Nasdaq-100-based index [2][6]. - The fund utilizes the MerQube Nasdaq-100 Vol Advantage Autocallable Index, which is designed for autocallable strategies, targeting an implied volatility of 35% and managing downside risk with defined barriers [3][4]. Group 2: Income Generation and Risk Management - CAIQ's autocallable notes provide regular income as long as the MerQube index does not fall below a predetermined barrier level of -30%, allowing for consistent yield even during flat or modestly declining market conditions [4][5]. - The fund employs a diversified approach with over 52 autocallables, creating a laddered structure that aims to smooth income generation and reduce timing risk [5][10]. Group 3: Market Position and Strategy - The launch of CAIQ builds on the success of the Calamos Autocallable Income ETF (CAIE), which has attracted significant inflows and generated substantial monthly yield since its launch on June 25, 2025 [6][7]. - CAIQ is positioned as a tax-efficient investment option, designed to provide distributions with favorable tax treatment compared to ordinary income [10].