Preheat oven to 350 degrees. Grease and flour a 12-cup fluted tube pan (bundt pan).
Beat butter with both sugars using an electric mixer until blended well.
Beat in eggs one at a time.
Mix in vanilla extract and applesauce.
In a medium bowl, whisk together flour, cinnamon, baking soda, and salt.
Gradually add flour mixture to butter mixture, beating until blended.
Stir in caramel chips and pecans. Transfer batter to prepared pan.
Bake 45 to 50 minutes. Cool 10 minutes. Invert onto a wire rack.
To make glaze, whisk together all ingredients. Use a spoon to drizzle on cake. Best eaten still warm from the oven.