The folks at a $41-billion-AUM* alts fund firm near Chicago are further expanding their ETF suite with an offering focused on "a differentiated source of high income."

Last week, John Koudounis, president and CEO of Calamos [profile], and Matt Kaufman, head of ETFs, unveiled the launch of the Calamos Autocallable Income ETF (CAIE on the NYSE Arca, Inc.). Calamos Advisors, LLC serves as advisor and issuer of the new fund, which they're describing as the first of its kind.

CAIE's inception date was June 25, and it comes with an expense ratio of 74 basis points. As of yesterday, the new ETF had $5.1 million in AUM.

The PM team for CAIE includes:

Shaheen Iqubal, senior vice president and co-portfolio manager at Calamos; and

Jordan Rosenfeld, vice president and co-PM.

MerQube Indices serves as index provider to CAIE. The new fund is designed to generate monthly income while also providing exposure to the MerQub US Large Cap Vol Advantage Autocallable Index, which is designed track the performance of a theoretical diversified portfolio of synthetic autocallable notes.

"For those new to autocallables, think of it like a bond whose income and par value depend on the stock market not falling below a protective barrier. For investment professionals already familiar with autocallables, CAIE is simply the 'easy button,'" Kaufman states. "Our laddered approach is designed to diversify exposure, reduce timing risk, and potentially smooth out income, while the ETF structure adds daily liquidity, tax-advantaged distributions, and no minimums."

Koudounis puts the launch of CAIE in the context of Calamos' "heritage of innovation." He describes the new ETF as offering "a sophisticated autocallable strategy that seeks to deliver consistent, high monthly income to our investors through the efficiencies of an ETF."

"We're democratizing access to a premier income strategy that has historically been the exclusive domain of high-net-worth investors," Koudounis states.

CAIE is a non-diversified, actively managed series of the Calamos ETF Trust. The new fund's other service providers include:

Calamos Financial Services LLC (CFS) as distributor;

Deloitte & Touche LLP as independent accounting firm;

J.P. Morgan as primary swap counterparty;

Ropes & Gray LLP as counsel; and

State Street Bank and Trust Company as custodian, dividend paying agent, fund accounting and financial accounting agent, and transfer agent.

*As of June 16, 2025. 

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