ETF Evaluator:
Calamos Autocallable Growth ETF ()
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(as of Aug 26)
Best Performing in Large Blend Over the Last Year
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ETF Details
Calamos Autocallable Growth ETF Overview
Calamos Autocallable Growth ETF (CAGE) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Calamos launched the ETF in 2026.
The investment seeks to generate long-term capital growth while providing reduced downside risk through exposure to the MerQube U.S. Large-Cap Advantage Autocallable Growth Index (the "Autocallable Index").
The fund is a non-diversified, actively managed exchange-traded fund ("ETF") that, under normal market conditions, seeks to invest at least 80% of its net assets (plus borrowings for investment purposes, if any) in U.S. Treasuries, cash, cash equivalents, box spreads, box spread ETFs and unfunded total return swaps that provide exposure to the Autocallable Index. It is non-diversified.
About Calamos Autocallable Growth ETF (CAGE)
There are 2 members of the management team with an average tenure of 0.29 years: Shaheen Iqubal (2026) and Jordan Rosenfeld (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Calamos Autocallable Growth ETF has 5 securities in its portfolio. The top 10 holdings constitute 294.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Calamos Autocallable Growth ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Calamos Autocallable Growth ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Calamos Autocallable Growth ETF has 17.9% of the portfolio in cash.
Assets Under Management
The fund has $105 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CAGE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Calamos Autocallable Growth ETF expense ratio is above average compared to funds in the Large Blend category. Calamos Autocallable Growth ETF has an expense ratio of 0.74%, which is 79% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Calamos Autocallable Growth ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Calamos Autocallable Growth ETF returned -0.4%, which earned it a grade of D, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Calamos Autocallable Growth ETF has a trailing yield of 0.00%, which is below the 1.16% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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CAGE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CAGE Return (NAV) | -0.4% | 5.4% | na | na | na | na |
| CAGE Return (Price) | -0.3% | 5.5% | na | na | na | na |
| NAV +/- Price Return | -0.110% | -0.090% | na | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| CAGE Grade (NAV) | D | B | na | na | na | na |
| +/- Category (NAV) | 0.4% | 1.6% | na | na | na | na |
| CAGE Tax-Cost Ratio | na | na | na | na | na | na |
CAGE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CAGE Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| CAGE Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| CAGE Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 106 Mil |
| Share Class Assets: | $ 106 Mil |
| Turnover: | na |
| Expense Ratio: | 0.74% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Iqubal Shaheen (2026), Rosenfeld Jordan (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 294.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 82.1% |
| Cash: | 17.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Calamos |
| Phone Number: | 866-363-9219 |
| Website: | |
| Inception Date: | April 15, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.74% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.41% |
