Two of the market's most popular income ETFs compared side-by-side. See which one fits your yield strategy.
What this means: Both CM and CSQ fall intoTier 3: Specialty. This suggests they share a similar risk profile and volatility expectation.
| Metric | CM | CSQ |
|---|---|---|
| Total Return (1Y) | 54.18% | 17.45% |
| NAV Change (1Y) | 51.07% | 9.81% |
| Max Drawdown | -42.58% | -29.75% |
| Beta | - | - |
* Returns include dividend reinvestment. Drawdown calculates peak-to-trough decline over trailing 12 months.
CM (Canadian Imperial Bank of Commerce) is a sector-specific income fund managed by institutional managers. It focuses on generating income through strategic holdings. With significant capital, this fund has been operational since its inception.
Strategy: Concentrates on sector-specific opportunities, typically REITs, MLPs, or BDCs with higher baseline yields.
CSQ (Calamos Strategic Total Return Fund) is a sector-specific income fund managed by Calamos. It focuses on generating income through strategic holdings. With significant capital, this fund has been operational since its inception.
Strategy: Concentrates on sector-specific opportunities, typically REITs, MLPs, or BDCs with higher baseline yields.
In the head-to-head battle of CM vs CSQ, the choice depends on your specific goal. CSQ wins for Immediate Income with a 7.64% yield. However, CM is the better choice for Long-Term Growth due to superior total return performance.
Which fund is safer for retirement income? We analyze the yield sustainability and structural risk.
The Bottom Line Question: If you invest $100,000 today, how much cash will you actually receive each month? Here's the exact math:
CM
Annual Yield: 3.11%
$259/mo
($3,111/year)
Frequency: quarterly
CSQ
Annual Yield: 7.64%
$637/mo
($7,644/year)
Frequency: monthly
Income Gap: CSQ generates $4,533/year more than CM on the same $100k investment.
Over 20 years, that's $90,663 in additional cash flow (before reinvestment).
Context Matters: Higher income doesn't always mean better investment. Review the "Yield Trap" and "Total Return" sections above—you want income that's sustainable, not just headline-grabbing.
Historical data reveals how these funds behave during market stress. CM has delivered a superior Total Return of 54.18% over the past year.
What is Max Drawdown? Max drawdown measures the largest peak-to-trough decline in portfolio value during a specific period. Unlike NAV change (which only looks at start vs. end), max drawdown captures the worst moment of pain an investor experienced.
Real-World Scenario: $100,000 Investment
CSQ (More Resilient)
Max Drawdown: -29.75%
-$29,750
Worst unrealized loss
CM (More Volatile)
Max Drawdown: -42.58%
-$42,580
Worst unrealized loss
Protection Value: CSQ saved investors $12,830 in drawdown severity on a $100k position.
Why This Matters More Than Total Return: During bear markets or corrections, investors with lower max drawdown are:
⚖️ Capital Preservation Winner: CSQ demonstrated superior downside protection, making it the better choice for retirees who cannot afford steep temporary losses.
Every investor has a unique risk profile. Use our Portfolio Intelligence tool to see the impact of adding these ETFs to your holdings.