Calamos Hedged Equity Fund (CIHEX)

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The chart shows the growth of an initial investment of $10,000 in Calamos Hedged Equity Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Calamos Hedged Equity Fund (CIHEX) has returned -3.54% so far this year and 9.82% over the past 12 months. Over the last ten years, CIHEX has returned 7.62% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 2, 2015, CIHEX's average daily return is +0.03%, while the average monthly return is +0.57%. At this rate, your investment would double in approximately 10.2 years.

Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +7.0%, while the worst month was Mar 2020 at -5.9%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 3 months.

On a daily basis, CIHEX closed higher 48% of trading days. The best single day was Apr 9, 2025 with a return of +4.6%, while the worst single day was Mar 16, 2020 at -6.9%.

Calamos Hedged Equity Fund has an annualized alpha of 1.11%, beta of 0.51, and R² of 0.94 versus S&P 500 Index. Calculated based on daily prices since January 05, 2015.

• This fund participated in 53.01% of S&P 500 Index downside but only 49.55% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.51 indicates this fund moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

CIHEX has an expense ratio of 0.91%, placing it in the medium range.

CIHEX ranks 65 for risk / return — better than 65% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Calamos Hedged Equity Fund (CIHEX) and compare them to a chosen benchmark (S&P 500 Index).

Calamos Hedged Equity Fund provided a 0.34% dividend yield over the last twelve months, with an annual payout of $0.06 per share.

The table displays the monthly dividend distributions for Calamos Hedged Equity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Calamos Hedged Equity 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 Hedged Equity Fund was 17.80%, occurring on Mar 23, 2020. Recovery took 93 trading sessions.

The current Calamos Hedged Equity Fund drawdown is 4.68%.

The chart below shows the rolling one-month volatility.