Calamos Autocallable Income ETF (CAIE)

The Calamos Autocallable Income ETF (CAIE) seeks to provide high monthly income by gaining exposure to a laddered portfolio of autocallable notes linked to a U.S. equity index. Autocallables are structured investments that pay regular coupons as long as the reference index stays above a set barrier and are redeemed early if the index is at or above a call level on observation dates.

Instead of holding the notes directly, the fund typically uses swaps or other derivatives to replicate an index of autocallables, while holding Treasuries or similar collateral. This approach seeks to deliver the income profile of autocallables in a liquid, diversified ETF format.

The fund is sponsored by Calamos Investments of Naperville, Illinois, and trades on NYSE Arca.