Calamos sets Oct. 26 launch for CAYN least-of autocallable ETF

Calamos Investments plans to launch the Calamos Least-Of Autocallable Income ETF, ticker CAYN, on October 26, 2026, according to ETF Trends. The fund’s reference asset is the weakest performer among three ETFs: the State Street SPDR S&P 500 ETF (SPY), the Invesco QQQ Trust (QQQ) and the iShares Russell 2000 ETF (IWM).

The notes will be laddered across at least 52 positions, with both the coupon barrier and the maturity barrier at -30%, according to ETF Trends. The underlying MerQube US Equity Least-Of Autocallable Index (MQAUTOWL) has a memory feature: missed coupons are stored and paid once the lowest performer climbs back above the coupon barrier. A finish below the maturity barrier can cost holders principal.

“The autocallable ETF category is taking off, with growing investor demand for multiple strategies,” said John Koudounis, Calamos president and CEO, in the announcement. He credited the Calamos Autocallable Income ETF (CAIE), launched in 2025, with creating the category. CAIE held $1.4 billion as of October 21, up from $1.3 billion when this publication covered the category in September, according to ETF Trends.

Calamos is not the only issuer in the wrapper: First Trust already offers four autocallable funds, ETF Trends reported.