Core Insights - Calamos is launching the U.S. Tech Autocallable Income ETF (CAIQ) in Q4 2025, following the success of its first autocallable ETF, CAIE, which has seen strong investor demand since its launch on June 25, 2025 [1][2] - The CAIE ETF has been recognized as the "Most Innovative Product" at the SRP Americas 2025 Awards, highlighting its unique structure that provides access to a portfolio of autocallables through a single ETF [2][4] - The innovative approach of Calamos aims to democratize access to sophisticated yield strategies, with CAIE offering high, stable, and tax-efficient income [4][12] Company Overview - Calamos is a diversified global investment firm based in the Chicago metropolitan area, managing over $45 billion in assets under management (AUM), including more than $20 billion in liquid alternatives as of September 15, 2025 [6] - The firm focuses on innovative investment strategies across various asset classes, including alternatives, multi-asset, and sustainable equity [6] Market Context - The U.S. structured products market, particularly autocallable notes, is significant, with nearly $200 billion in total market size and over $40 billion in net flows year-to-date [4][21] - Autocallable ETFs, led by Calamos' CAIE, are anticipated to be a major trend in the income category, offering double-digit yields and tax efficiency compared to traditional high-yield ETFs [3][22] Product Details - The CAIQ ETF will utilize a laddered QQQ-based autocallable index, optimized for high, stable income, with J.P. Morgan serving as the swap counterparty [4][14] - CAIE has delivered a recent distribution yield of 13.77%, with over 91% of its yield classified as return of capital, which is tax-deferred [3][22]