CAIQvsMUNCETF Comparison
VS
ETF 2
MUNC
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.14%
Calamos Nasdaq Autocallable Income ETF (CAIQ) and Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) have similar underlying exposures to countries and sectors. CAIQ's top 1 sector exposures are Sovereign. In contrast, MUNC's top sector exposures are Municipal. CAIQ is more expensive with a Total Expense Ratio (TER) of 0.86%, versus 0.18% for MUNC. CAIQ is up 11.24% year-to-date (YTD) with +$312M in YTD flows. MUNC performs worse with -1.87% YTD performance, and -$2M in YTD flows. Run a side-by-side ETF comparison of CAIQ and MUNC below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CAIQ vs MUNC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CAIQ MUNC | -1.30%-2.21% | -0.12%-2.88% | +11.24%-1.87% | n/a-0.25% | n/an/a | n/an/a |
| Flows | CAIQ MUNC | +$50M- | +$142M- | +$312M-$2M | --$2M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CAIQ MUNC | +11.84%+2.67% | n/a+2.37% | n/an/a | n/an/a |
| Max drawdown | CAIQ MUNC | -5.79%-3.51% | n/a-4.19% | n/an/a | n/an/a |
| Max drawdown duration | CAIQ MUNC | 58d67d | n/a194d | n/an/a | n/an/a |
Trading data
CAIQ | MUNC | |
Last sale 9/11/2026 at 1:30 PM | $25.40 | $98.56 |
| Previous close 09/10/2026 | $25.20 | $98.42 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
CAIQ | MUNC | |
|---|---|---|
| Last price | $25.40 | $98.56 |
| 1D performance | +0.79% | +0.14% |
| AuM | $343.93 M | $7.89 M |
| E/R | 0.86% | 0.18% |
Characteristics
CAIQ | MUNC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Calamos Investments | FlexShares |
| Benchmark | - | - |
| N° of holdings | 2 | 20 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 20, 2025 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
CAIQ
USA
14.84%
Other
85.16%
MUNC
USA
15.7%
Other
84.3%
Sectors
CAIQ
Sovereign
14.84%
Other
85.16%
MUNC
Municipal
15.7%
Other
84.3%
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Diversification
CAIQ
Total weight of top 2 holdings out of 2
95.89%
MUNC
Total weight of top 15 holdings out of 15
32.28%
Top 15 holdings
Data as of July 31, 2026
CAIQ
US12811T5149
81.06%
USA, Bills 0% 7jan2027, USD (182D)
14.84%
MUNC
Utility Debt Securitization Authority, 5% 15dec2029, USD (2022)
3.34%
US866849W400
3.25%
US544532CU63
3.23%
US930864JG97
3.03%
US64613CAZ14
2.62%
US562895XK30
2.54%
US05914GFN34
1.92%
US153480AJ70
1.86%
US315361MP77
1.84%
Greater Chicago Metropolitan Water Reclamation District, 5.25% 1dec2035, USD
1.71%
US216181GE19
1.44%
US812670DV64
1.42%
US779240RF94
1.39%
US749030EE89
1.37%
US79289ABY82
1.35%
Frequently asked questions about CAIQ and MUNC
How have the CAIQ and MUNC ETFs performed in 2026?
As of September 10, 2026, CAIQ is up 11.24% year-to-date (YTD), while MUNC has lost -1.87%. That puts CAIQ better performer ahead so far this year.
Which ETF is attracting more investor money: CAIQ or MUNC?
Year-to-date, the CAIQ ETF saw +$312M in flows, compared to -$2M for MUNC.
Which ETF is bigger: CAIQ or MUNC?
As of September 10, 2026, CAIQ holds $343.93 M in assets under management (AUM), while MUNC manages $7.89 M.
What sectors do the CAIQ and MUNC ETFs invest in?
CAIQ leans toward sectors like Sovereign. Meanwhile, MUNC focuses on Municipal.
What are the top holdings of the CAIQ ETF and MUNC ETF?
CAIQ top holdings include US12811T5149 and USA, Bills 0% 7jan2027, USD (182D). MUNC holds in its top three: Utility Debt Securitization Authority, 5% 15dec2029, USD (2022), US866849W400 and US544532CU63.
Which ETF is more diversified: CAIQ or MUNC?
CAIQ has 2 securities. MUNC has 152 securities and a top 15 weight of 32.28%.
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Latest news about CAIQ & MUNC
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNC
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Autocallables: The Next Generation of Equity Income ETFs
November 20, 2025
CAIQ
Autocallables: The Next Generation of Equity Income ETFs
November 20, 2025
CAIQ
ETF Strategies Explained for Dummies, Part 2 (With Examples)
January 1, 1970
CAIQ
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