CAGE Calamos Autocallable Growth ETF

About this ETF

Calamos Autocallable Growth ETF is the world's first autocallable growth exchange-traded fund, designed to deliver amplified long-term capital appreciation through synthetic exposure to a laddered portfolio of autocallable growth notes. The fund tracks the MerQube US Large-Cap Vol Advantage Autocallable Growth Index, providing investors access to strategies previously limited to high net worth and institutional investors through bank-issued structured notes. CAGE operates with a portfolio of approximately 52 weekly-staggered autocallable securities with 5-year maturities, reducing timing risk and operational complexity. The fund features a tax-efficient structure where coupons from underlying notes are automatically reinvested and compounded tax-deferred rather than distributed, enabling the "snowball" effect for enhanced wealth accumulation. The strategy includes a 50% downside barrier with principal at risk if breached at maturity, and is suitable for growth-oriented, long-term investors with a 5+ year investment horizon who can tolerate higher volatility than traditional equity indices. Listed on the NYSE, CAGE democratizes access to the $40 billion annual autocallable growth note market and complements Calamos' existing autocallable income ETFs.