PSQAvsCAGEETF Comparison
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Palmer Square CLO Senior Debt ETF (PSQA) and Calamos Autocallable Growth ETF (CAGE) have similar underlying exposures to countries and sectors. PSQA's top 1 sector exposures are Industrials. In contrast, CAGE's top sector exposures are Sovereign. PSQA is less expensive with a Total Expense Ratio (TER) of 0.21%, versus 0.82% for CAGE. Run a side-by-side ETF comparison of PSQA and CAGE 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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PSQA vs CAGE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PSQA CAGE | +0.42%+0.07% | +1.23%-0.18% | +3.39%n/a | +5.19%n/a | n/an/a | n/an/a |
| Flows | PSQA CAGE | +$32M+$32M | +$70M+$96M | +$136M- | +$166M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PSQA CAGE | +0.22%+22.73% | +0.45%n/a | n/an/a | n/an/a |
| Max drawdown | PSQA CAGE | n/a-6.69% | -0.24%n/a | n/an/a | n/an/a |
| Max drawdown duration | PSQA CAGE | n/a62d | 20dn/a | n/an/a | n/an/a |
Trading data
PSQA | CAGE | |
Last sale 9/3/2026 at 1:30 PM | $20.70 | $29.20 |
| Previous close 09/02/2026 | $20.67 | $28.58 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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CAGE
is actively managed and doesn’t replicate an indexPSQA | CAGE | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
PSQA | CAGE | |
|---|---|---|
| Last price | $20.70 | $29.20 |
| 1D performance | +0.17% | +2.17% |
| AuM | $209.59 M | $140.09 M |
| E/R | 0.21% | 0.82% |
Characteristics
PSQA | CAGE | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Palmer Square | Calamos Investments |
| Benchmark | Palmer Square CLO Senior Debt Index | - |
| N° of holdings | 18 | 2 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2024 | April 16, 2026 |
| ESG | No | No |
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Exposure
Countries
PSQA
USA
16.83%
Other
83.17%
CAGE
USA
17.36%
Other
82.64%
Sectors
PSQA
Industrials
16.83%
Other
83.17%
CAGE
Sovereign
17.36%
Other
82.64%
Diversification
PSQA
Total weight of top 15 holdings out of 15
24.88%
CAGE
Total weight of top 2 holdings out of 2
98.34%
Top 15 holdings
Data as of July 31, 2026
PSQA
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
2.38%
US75884YAK47
2.26%
US12553DAS62
1.70%
US03768UAG40
1.70%
US64132TAU79
1.70%
US74971CAU71
1.70%
Magnetite CLO 2019-23A, FRN 25jan2035, USD (ABS, AR)
1.70%
Invesco US CLO 2023-1A, FRN 22apr2037, USD (ABS, AR2)
1.70%
US75884EAN22
1.70%
US675949AQ45
1.56%
US67402CBU99
1.42%
US03990HAA68
1.41%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
1.41%
Octagon Investment Partners 2019-1A, FRN 22jan2035, USD (ABS, A1R)
1.30%
US381929AN88
1.26%
CAGE
US12811T5149
80.98%
USA, Bills 0% 7jan2027, USD (182D)
17.36%
Frequently asked questions about PSQA and CAGE
Which ETF is bigger: PSQA or CAGE?
As of September 2, 2026, PSQA holds $209.59 M in assets under management (AUM), while CAGE manages $140.09 M.
What sectors do the PSQA and CAGE ETFs invest in?
PSQA leans toward sectors like Industrials. Meanwhile, CAGE focuses on Sovereign.
What are the top holdings of the PSQA ETF and CAGE ETF?
PSQA top holdings include Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12553DAS62. CAGE holds in its top three: US12811T5149 and USA, Bills 0% 7jan2027, USD (182D).
Which ETF is more diversified: PSQA or CAGE?
PSQA holds 125 securities with 24.88% of its assets in the top 15. CAGE has 2 securities.
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