- CUSIP
- 12811T407
- Issuer
- Calamos
- Inception Date
- Jan 16, 2024
- Category
- Dividend
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Assets Under Management
- $33M
Share Price Chart
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Performance
CCEF Performance Chart
Calamos CEF Income & Arbitrage ETF (CCEF) is up 6.0% since the beginning of the year. CCEF is currently trading at $30 per share.
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Returns By Period
Calamos CEF Income & Arbitrage ETF (CCEF) has returned 6.04% so far this year and 15.76% over the past 12 months.
Calamos CEF Income & Arbitrage ETF
- 1D
- -0.09%
- 1M
- 0.89%
- YTD
- 6.04%
- 6M
- 6.94%
- 1Y
- 15.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CCEF Monthly Returns History
Based on dividend-adjusted daily data since Jan 16, 2024, CCEF's average daily return is +0.06%, while the average monthly return is +1.21%. At this rate, an investment would double in approximately 4.8 years.
Historically, 70% of months were positive and 30% were negative. The best month was Apr 2026 with a return of +5.7%, while the worst month was Mar 2026 at -5.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, CCEF closed higher 59% of trading days. The best single day was Apr 9, 2025 with a return of +5.3%, while the worst single day was Apr 4, 2025 at -6.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.12% | 1.44% | -5.25% | 5.69% | 1.28% | -0.05% | 6.04% | ||||||
| 2025 | 3.93% | -0.55% | -1.06% | -2.64% | 3.68% | 3.53% | 0.81% | 1.84% | 1.55% | 0.07% | 1.11% | 0.65% | 13.47% |
| 2024 | -0.31% | 3.10% | 3.64% | -2.82% | 3.69% | 2.47% | 3.22% | 2.56% | 3.19% | -2.29% | 4.88% | -4.34% | 17.80% |
Benchmark Metrics
Calamos CEF Income & Arbitrage ETF has an annualized alpha of 4.00%, beta of 0.56, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since January 16, 2024.
- This ETF participated in 76.22% of S&P 500 Index downside but only 72.82% of its upside - more exposed to losses than it benefited from rallies.
- This ETF generated an annualized alpha of 4.00% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.56 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 4.00%
- Beta
- 0.56
- R²
- 0.67
- Upside Capture
- 72.82%
- Downside Capture
- 76.22%
Expense Ratio
CCEF has a high expense ratio of 2.74%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CCEF ranks 55 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CCEF | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 2.78 | -0.74 |
| Martin ratioReturn relative to average drawdown | 8.80 | 12.44 | -3.64 |
Dividends
Dividend History
Calamos CEF Income & Arbitrage ETF provided a 7.96% dividend yield over the last twelve months, with an annual payout of $2.35 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $2.35 | $2.33 | $1.81 |
Dividend yield | 7.96% | 8.08% | 6.55% |
Monthly Dividends
The table displays the monthly dividend distributions for Calamos CEF Income & Arbitrage ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.20 | $0.21 | $0.19 | $0.20 | $0.20 | $0.99 | ||||||
| 2025 | $0.00 | $0.19 | $0.19 | $0.19 | $0.20 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.41 | $2.33 |
| 2024 | $0.18 | $0.18 | $0.16 | $0.18 | $0.17 | $0.18 | $0.19 | $0.19 | $0.38 | $1.81 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Calamos CEF Income & Arbitrage ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Calamos CEF Income & Arbitrage ETF was 13.25%, occurring on Apr 8, 2025. Recovery took 52 trading sessions.
The current Calamos CEF Income & Arbitrage ETF drawdown is 0.50%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -13.25%Apr 2025 | 1mo 18d | 2mo 17d | 4mo 5dFeb 2025 - Jun 2025 |
2026 pullback2026 | -7.75%Mar 2026 | 27d | 1mo 7d | 2mo 4dMar 2026 - May 2026 |
2024 pullback2024 | -5.93%Dec 2024 | 17d | 1mo 19d | 2mo 6dDec 2024 - Feb 2025 |
2024 pullback2024 | -5.11%Apr 2024 | 15d | 23d | 1mo 8dApr 2024 - May 2024 |
2024 pullback2024 | -4.94%Aug 2024 | 4d | 11d | 15dAug 2024 - Aug 2024 |
Drawdown Indicators
| CCEF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -56.78% | +43.53% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -9.10% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.50% | -1.80% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -10.71% | +9.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 2.03% | -0.24% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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