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Performance
CCVIX Performance Chart
Calamos Convertible Fund (CCVIX) is up 26.9% since the beginning of the year. CCVIX is currently trading at $30 per share. Investors who bought $1,000 worth of CCVIX shares 5 years ago would now be looking at an investment worth $1,479.
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Returns By Period
Calamos Convertible Fund (CCVIX) has returned 26.89% so far this year and 44.88% over the past 12 months. Over the last ten years, CCVIX has returned 12.38% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Calamos Convertible Fund
- 1D
- 1.37%
- 1M
- 5.16%
- YTD
- 26.89%
- 6M
- 24.44%
- 1Y
- 44.88%
- 3Y*
- 19.95%
- 5Y*
- 8.14%
- 10Y*
- 12.38%
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%
CCVIX Monthly Returns History
Based on dividend-adjusted daily data since Jul 17, 1985, CCVIX's average daily return is +0.04%, while the average monthly return is +0.77%. At this rate, an investment would double in approximately 7.5 years.
Historically, 61% of months were positive and 39% were negative. The best month was Dec 1999 with a return of +13.7%, while the worst month was Oct 1987 at -15.5%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CCVIX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +5.5%, while the worst single day was Mar 16, 2020 at -7.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.63% | 1.18% | -3.61% | 12.05% | 6.62% | 3.11% | 26.89% | ||||||
| 2025 | 3.57% | -3.18% | -4.02% | 1.68% | 3.79% | 5.80% | 1.90% | 1.44% | 5.46% | 4.12% | -1.68% | -0.93% | 18.83% |
| 2024 | -0.90% | 1.27% | 2.16% | -2.84% | 1.41% | 2.26% | 0.49% | 1.02% | 2.28% | 0.70% | 6.29% | -4.44% | 9.71% |
| 2023 | 4.68% | -1.92% | 0.47% | -1.74% | 0.48% | 5.18% | 2.80% | -3.17% | -2.30% | -4.72% | 5.94% | 5.18% | 10.61% |
| 2022 | -7.37% | -0.51% | 0.65% | -7.22% | -3.47% | -6.69% | 6.11% | -0.10% | -6.60% | 3.17% | 2.64% | -3.07% | -21.23% |
| 2021 | 0.90% | 4.09% | -3.41% | 2.60% | -1.85% | 1.89% | -0.38% | 1.75% | -1.23% | 2.87% | -2.64% | 0.73% | 5.13% |
Benchmark Metrics
Calamos Convertible Fund has an annualized alpha of 3.93%, beta of 0.50, and R2 of 0.69 versus S&P 500 Index. Calculated based on daily prices since July 17, 1985.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (69.16%) than losses (65.73%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 3.93% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.50 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 3.93%
- Beta
- 0.50
- R²
- 0.69
- Upside Capture
- 69.16%
- Downside Capture
- 65.73%
Expense Ratio
CCVIX has a high expense ratio of 1.10%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CCVIX ranks 90 for risk / return — in the top 90% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Calamos Convertible Fund (CCVIX) 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.
| CCVIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.37 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.87 | 2.78 | +3.09 |
| Martin ratioReturn relative to average drawdown | 21.59 | 12.44 | +9.15 |
Dividends
Dividend History
Calamos Convertible Fund provided a 7.98% dividend yield over the last twelve months, with an annual payout of $2.36 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.36 | $2.39 | $0.28 | $0.37 | $0.11 | $3.19 | $1.67 | $0.18 | $2.24 | $0.69 | $0.46 | $0.74 |
Dividend yield | 7.98% | 10.25% | 1.31% | 1.87% | 0.60% | 13.59% | 6.56% | 1.00% | 14.47% | 3.90% | 2.84% | 4.68% |
Monthly Dividends
The table displays the monthly dividend distributions for Calamos Convertible Fund. 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $2.32 | $2.39 |
| 2024 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.20 | $0.28 |
| 2023 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.31 | $0.37 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.10 | $0.11 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.19 | $3.19 |
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 Convertible Fund. 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 Convertible Fund was 36.56%, occurring on Nov 20, 2008. Recovery took 334 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -36.56%Nov 2008 | 1y 20d | 1y 4mo | 2y 4moNov 2007 - Mar 2010 |
Bear market2022 | -27.33%Oct 2022 | 11mo 9d | 2y 9mo | 3y 8moNov 2021 - Jul 2025 |
COVID crash2020 | -25.73%Mar 2020 | 1mo 2d | 2mo 7d | 3mo 9dFeb 2020 - May 2020 |
Black Monday1987 | -23.49%Dec 1987 | 3mo 22d | 3y 2mo | 3y 6moAug 1987 - Feb 1991 |
2016 correction2016 | -19.95%Feb 2016 | 8mo 19d | 1y 2mo | 1y 11moMay 2015 - Apr 2017 |
Drawdown Indicators
| CCVIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.56% | -56.78% | +20.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -9.10% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -18.90% | +4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -27.33% | -25.43% | -1.90% |
Max Drawdown (10Y)Largest decline over 10 years | -27.33% | -33.92% | +6.59% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -10.71% | +4.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.03% | +0.06% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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