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Calamos CEF Income & Arbitrage ETF (CCEF) Alternatives

ETF · Currency in USD · Last updated Jun 23, 2026

The ETF is actively managed, seeking high current income and long-term capital appreciation through investments in unaffiliated closed-end funds with attractive income and arbitrage opportunities, with at least 80% of assets invested in U.S. and non-U.S. closed-end funds.

Calamos CEF Income & Arbitrage ETF (CCEF) belongs to the Dividend category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with CCEF. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to CCEF

CCEF charges 2.74% annually. There are 211 ETFs in the Dividend category with lower expense ratios, going as low as 0.04%.

SymbolNameExpense RatioAUMInception
VIG
Vanguard Dividend Appreciation ETF0.04%127.80BApr 2006CCEF vs VIG
VYM
Vanguard High Dividend Yield ETF0.04%96.10BNov 2006CCEF vs VYM
SPDG
SPDR Portfolio S&P Sector Neutral Dividend ETF0.05%12.45MSep 2023CCEF vs SPDG
DIVB
iShares Core Dividend ETF0.05%1.89BNov 2017CCEF vs DIVB
UDIV
Franklin U.S. Core Dividend Tilt Index ETF0.06%136.08MJun 2016CCEF vs UDIV

Best Risk-Adjusted Alternatives to CCEF

CCEF has a PortfoliosLab risk / return rank of 55. There are 107 ETFs in the Dividend category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...
98
7.99BNov 2012CCEF vs VDY.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...
98
5.54BJun 2017CCEF vs XDIV.TO
TBNK.TO
TD Canadian Bank Dividend Index ETF
97
370.26MApr 2023CCEF vs TBNK.TO
PDC.TO
Invesco Canadian Dividend Index ETF
97
1.02B—CCEF vs PDC.TO
ISPA.DE
iShares STOXX Global Select Dividend 100 UCITS ETF...
95
—Sep 2009CCEF vs ISPA.DE

Top Performing CCEF Alternatives (YTD)

CCEF is at 6.04% YTD. There are 172 ETFs in the Dividend category with higher YTD returns, going as high as 73.01%.

SymbolNameYTD ReturnAUMInception
MRNY
YieldMax MRNA Option Income Strategy ETF
73.01%
121.45MOct 2023CCEF vs MRNY
DGRE
WisdomTree Emerging Markets Quality Dividend Growt...
34.34%
154.36MAug 2013CCEF vs DGRE
SCDL
ETRACS 2x Leveraged U.S. Dividend Factor TR ETN
32.62%
7.89MFeb 2021CCEF vs SCDL
DXU.TO
Dynamic Active U.S. Dividend ETF
30.21%
82.94MSep 2024CCEF vs DXU.TO
TBNK.TO
TD Canadian Bank Dividend Index ETF
29.67%
370.26MApr 2023CCEF vs TBNK.TO

Lowest Volatility Alternatives to CCEF

CCEF has 8.24% 1-year volatility. There are 4 ETFs in the Dividend category with lower 1-year volatility, going as low as 5.91%.

SymbolNameVolatility 1YAUMInception
ALTY
Global X Alternative Income ETF5.91%44.46MJul 2015CCEF vs ALTY
PDIV.TO
Purpose Enhanced Dividend Fund ETF6.92%223.90MJan 2018CCEF vs PDIV.TO
JEPI
JPMorgan Equity Premium Income ETF8.04%44.26BMay 2020CCEF vs JEPI
VUDV.TO
Vanguard U.S. High Dividend Yield Index ETF8.15%—Mar 2026CCEF vs VUDV.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...8.33%7.99BNov 2012CCEF vs VDY.TO

Lowest Drawdown Alternatives to CCEF

CCEF has a 1-year max drawdown of -7.75%. There are 84 ETFs in the Dividend category with shallower 1-year drawdowns, going as shallow as -2.44%.

SymbolNameMax Drawdown 1YAUMInception
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...
-2.44%
5.54BJun 2017CCEF vs XDIV.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...
-3.12%
7.99BNov 2012CCEF vs VDY.TO
ISPA.DE
iShares STOXX Global Select Dividend 100 UCITS ETF...
-3.64%
—Sep 2009CCEF vs ISPA.DE
VDIV.DE
VanEck Morningstar Developed Markets Dividend Lead...
-3.68%
—May 2016CCEF vs VDIV.DE
PDC.TO
Invesco Canadian Dividend Index ETF
-3.86%
1.02B—CCEF vs PDC.TO

Other ETFs from Calamos

The 10 most viewed Calamos ETFs shown here include CAIE, CPSM, CVRT and span 7 categories. AUM among these funds goes as high as $999M.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CAIE
Calamos Autocallable Income ETFDerivative Income—
7.91%
998.70MJun 2025CCEF vs CAIE
CPSM
Calamos S&P 500 Structured Alt Protection ETF - Ma...Defined Outcome, S&P 500
96
2.08%
56.30MMay 2024CCEF vs CPSM
CVRT
Calamos Convertible Equity Alternative ETFConvertible Bonds
93
39.11%
28.70MOct 2023CCEF vs CVRT
CAIQ
Calamos Nasdaq Autocallable Income ETFNasdaq-100, Derivative Income—
12.63%
229.00MNov 2024CCEF vs CAIQ
CANQ
Calamos Alternative Nasdaq & Bond ETFNasdaq-100, Diversified Portfolio
35
4.65%
21.70MFeb 2024CCEF vs CANQ
CPSP
Calamos S&P 500 Structured Alt Protection ETF - Ap...S&P 500, Defined Outcome
98
3.09%
19.60MApr 2025CCEF vs CPSP
CPSL
Calamos Laddered S&P 500 Structured Alt Protection...Defined Outcome, S&P 500
94
2.56%
—Sep 2024CCEF vs CPSL
CPSA
Calamos S&P 500 Structured Alt Protection ETF - Au...Defined Outcome
95
3.01%
42.30MAug 2024CCEF vs CPSA
SROI
Calamos Antetokounmpo Global Sustainable Equities ...Global Equities
47
10.91%
18.60MFeb 2023CCEF vs SROI
CPST
Calamos S&P 500 Structured Alt Protection ETF - Se...Defined Outcome, S&P 500
95
2.83%
32.00MSep 2024CCEF vs CPST

Often Compared With CCEF

Investors most often compare CCEF with CEFS, PCEF, RDFI. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CEFS
Saba Closed-End Funds ETFEvent Driven, Actively Managed
88
15.43%
332.90MMar 2017CCEF vs CEFS
PCEF
Invesco CEF Income Composite ETFDiversified Portfolio
45
5.15%
827.49MFeb 2010CCEF vs PCEF
RDFI
Rareview Dynamic Fixed Income ETFMultisector Bonds
30
1.84%
58.18MOct 2020CCEF vs RDFI
PAPI
Parametric Equity Premium Income ETFDerivative Income
34
6.09%
398.58MOct 2023CCEF vs PAPI
HYMB
SPDR Nuveen Bloomberg Barclays High Yield Municipa...Municipal Bonds
55
3.44%
2.99BApr 2011CCEF vs HYMB
PG
The Procter & Gamble Company
30
4.56%
——CCEF vs PG
PRPFX
Permanent Portfolio Class IDiversified Portfolio
29
3.39%
—Dec 1982CCEF vs PRPFX
CWB
SPDR Bloomberg Barclays Convertible Securities ETFPreferred Stock/Convertible Bonds
84
24.57%
6.40BApr 2009CCEF vs CWB
HMEZX
NexPoint Merger Arbitrage FundEvent Driven
99
1.63%
—Aug 2016CCEF vs HMEZX
FTLS
First Trust Long/Short Equity ETFLong-Short
69
5.55%
2.40BSep 2014CCEF vs FTLS
3466.HK
Hang Seng High Dividend 30 Index ETFDividend
50
1.03%
—Apr 2025CCEF vs 3466.HK
FCEF
First Trust CEF Income Opportunity ETFDiversified Portfolio
62
6.63%
77.98MSep 2016CCEF vs FCEF
CPRJ
Calamos Russell 2000 Structured Alt Protection ETF...Defined Outcome
95
3.22%
23.50MJul 2024CCEF vs CPRJ
CPSJ
Calamos S&P 500 Structured Alt Protection ETF - Ju...Defined Outcome
94
2.85%
42.10MJul 2024CCEF vs CPSJ
CBOJ
Calamos Bitcoin Structured Alt Protection ETF - Ja...Defined Outcome
4
-1.64%
—Jan 2025CCEF vs CBOJ
ZDIV.TO
BMO MSCI Canada IMI High Dividend Yield Index ETFDividend———Feb 2026CCEF vs ZDIV.TO
DHS
WisdomTree US High Dividend FundLarge Cap Value Equities, Dividend
70
11.70%
1.47BJun 2006CCEF vs DHS
NDIV
Amplify Natural Resources Dividend Income ETFEnergy Equities, Dividend
33
26.55%
26.84MAug 2022CCEF vs NDIV
SCHD
Schwab U.S. Dividend Equity ETFDividend
76
17.24%
99.95BOct 2011CCEF vs SCHD
NXG
NXG NextGen Infrastructure Income FundGlobal Equity Income
49
24.88%
—Sep 2012CCEF vs NXG

Compare CCEF with Any Fund or Stock

Compare CCEF with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair CCEF with funds that move differently

Calamos CEF Income & Arbitrage ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CCEF.

Explore CCEF Diversifiers