- ISIN
- US1281196667
- CUSIP
- 128119666
- Issuer
- Calamos
- Inception Date
- Jan 2, 2002
- Category
- Large Cap Blend Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
CVAAX Performance Chart
Calamos Select Fund (CVAAX) is up 5.1% since the beginning of the year. CVAAX is currently trading at $24 per share. Investors who bought $1,000 worth of CVAAX shares 5 years ago would now be looking at an investment worth $1,732.
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Returns By Period
Calamos Select Fund (CVAAX) has returned 5.05% so far this year and 18.33% over the past 12 months. Over the last ten years, CVAAX has returned 12.85% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Calamos Select Fund
- 1D
- 1.16%
- 1M
- 0.83%
- YTD
- 5.05%
- 6M
- 4.96%
- 1Y
- 18.33%
- 3Y*
- 17.95%
- 5Y*
- 11.61%
- 10Y*
- 12.85%
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%
CVAAX Monthly Returns History
Based on dividend-adjusted daily data since Dec 31, 2001, CVAAX's average daily return is +0.04%, while the average monthly return is +0.72%. At this rate, an investment would double in approximately 8.1 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2009 with a return of +15.2%, while the worst month was Oct 2008 at -17.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CVAAX closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +10.1%, while the worst single day was Mar 16, 2020 at -12.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.04% | -2.76% | -5.11% | 10.49% | 3.52% | -0.41% | 5.05% | ||||||
| 2025 | 3.15% | -1.10% | -7.11% | 0.30% | 6.69% | 5.34% | 1.81% | 2.08% | 1.87% | 2.16% | 0.08% | -0.52% | 15.03% |
| 2024 | 2.28% | 5.63% | 2.26% | -3.44% | 4.64% | 5.01% | -0.93% | 2.11% | 1.70% | -0.95% | 6.28% | -2.27% | 24.08% |
| 2023 | 5.67% | -2.87% | 3.60% | 2.23% | 1.09% | 6.00% | 2.77% | -1.49% | -4.98% | -1.29% | 9.60% | 4.32% | 26.48% |
| 2022 | -5.78% | -2.38% | 3.63% | -9.02% | -1.14% | -7.05% | 8.96% | -3.30% | -8.63% | 7.74% | 4.73% | -6.23% | -18.83% |
| 2021 | -1.56% | 3.97% | 2.59% | 6.25% | 0.05% | 2.96% | 2.30% | 2.71% | -4.68% | 7.06% | -1.95% | 3.28% | 24.78% |
Benchmark Metrics
Calamos Select Fund has an annualized alpha of 0.24%, beta of 0.95, and R2 of 0.94 versus S&P 500 Index. Calculated based on daily prices since December 31, 2001.
- With beta of 0.95 and R2 of 0.94, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.24%
- Beta
- 0.95
- R²
- 0.94
- Upside Capture
- 98.88%
- Downside Capture
- 99.59%
Expense Ratio
CVAAX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CVAAX ranks 26 for risk / return — below 26% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Calamos Select Fund (CVAAX) 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.
| CVAAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.78 | -1.28 |
| Martin ratioReturn relative to average drawdown | 5.84 | 12.44 | -6.60 |
Dividends
Dividend History
Calamos Select Fund provided a 5.21% dividend yield over the last twelve months, with an annual payout of $1.27 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.27 | $1.27 | $1.61 | $0.76 | $0.41 | $1.50 | $0.81 | $0.09 | $2.26 | $0.47 | $0.10 | $0.91 |
Dividend yield | 5.21% | 5.47% | 7.56% | 4.15% | 2.73% | 7.84% | 4.85% | 0.60% | 18.86% | 3.08% | 0.71% | 7.45% |
Monthly Dividends
The table displays the monthly dividend distributions for Calamos Select 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 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.27 | $1.27 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.61 | $1.61 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.76 | $0.76 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.41 | $0.41 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.50 | $1.50 |
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 Select 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 Select Fund was 55.70%, occurring on Mar 9, 2009. Recovery took 1011 trading sessions.
The current Calamos Select Fund drawdown is 0.86%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -55.70%Mar 2009 | 1y 4mo | 4y 6d | 5y 4moNov 2007 - Mar 2013 |
COVID crash2020 | -35.98%Mar 2020 | 1mo 2d | 5mo 4d | 6mo 6dFeb 2020 - Aug 2020 |
Dot-com crash2000–2002 | -29.10%Oct 2002 | 9mo 4d | 12mo 3d | 1y 9moJan 2002 - Oct 2003 |
Bear market2022 | -24.13%Oct 2022 | 11mo 7d | 1y 2mo | 2y 1moNov 2021 - Dec 2023 |
2025 selloff2025 | -19.55%Apr 2025 | 1mo 17d | 2mo 20d | 4mo 7dFeb 2025 - Jun 2025 |
Drawdown Indicators
| CVAAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.70% | -56.78% | +1.08% |
Max Drawdown (1Y)Largest decline over 1 year | -12.04% | -9.10% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -19.55% | -18.90% | -0.65% |
Max Drawdown (5Y)Largest decline over 5 years | -24.13% | -25.43% | +1.30% |
Max Drawdown (10Y)Largest decline over 10 years | -35.98% | -33.92% | -2.06% |
Current DrawdownCurrent decline from peak | -0.86% | -1.80% | +0.94% |
Average DrawdownAverage peak-to-trough decline | -8.05% | -10.71% | +2.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 2.03% | +1.06% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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