Calamos Least-Of Autocallable Income ETF

Frequently Asked Questions About CAYN

What does CAYN invest in?

The Fund is an exchange-traded fund of Calamos ETF Trust that seeks to generate high monthly income while providing reduced downside risk through exposure to the MerQube US Equity Least-Of Autocallable Index (MQAUTOWL). The Index reflects a theoretical diversified portfolio of synthetic least-of (worst-of) autocallable notes. Their coupon, autocall, and principal outcomes depend on the least-performing of a basket of three exchange-traded funds: SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), and iShares Russell 2000 ETF (IWM). The Index was developed with MerQube and Citibank, and the Fund is expected to gain exposure through swaps. Per trade press, the portfolio holds at least 52 synthetic notes in a weekly ladder, each with a three-year maturity and coupon and principal barriers 30% below the reference assets' initial levels. It is described as the first indexed least-of autocallable income ETF.

What is the expense ratio of CAYN?

Calamos Least-Of Autocallable Income ETF (CAYN) charges an expense ratio of 0.86%. This is the annual fee deducted from fund assets to cover management and operations.

How big is CAYN?

Calamos Least-Of Autocallable Income ETF (CAYN) manages $2.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is CAYN actively managed or an index fund?

CAYN is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (CAYN's is 0.86%) because there's no security selection cost.

When was CAYN launched?

Calamos Least-Of Autocallable Income ETF (CAYN) launched in October 2026 and is managed by Calamos.

How has CAYN performed?

CAYN's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.