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Calamos Select Fund (CVAAX) Sharpe Ratio: 1.16

Mutual Fund · Currency in USD · Last updated Jul 17, 2026

The fund invests primarily in U.S. equity securities. Its portfolio may include securities of well-established companies with large market capitalizations as well as small, unseasoned companies. The fund's investment adviser generally defines a large cap company to have a market capitalization in excess of $25 billion and a mid-sized company to have a market capitalization greater than $1 billion, up to $25 billion. Generally, a small cap company is defined by the investment adviser as having a market capitalization of up to $1 billion. It may invest up to 25% of its net assets in foreign securities.

CVAAX's Sharpe Ratio of 1.16 indicates that for each unit of volatility, it generates 1.16 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jul 17, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

CVAAX Sharpe Ratio Rank

CVAAX Sharpe Ratio Rank: 24.625
Below Average

CVAAX ranks above 24.6% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

CVAAX Sharpe Ratio Market Positioning

The chart shows CVAAX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.15 or lower
  • Yellow zone (middle 50%): 1.15 to 2.01
  • Green zone (top 25%): 2.01 or higher
  • Top 1%: 3.85+
  • Median: 1.64 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Calamos Select Fund's Sharpe Ratio with other mutual funds in the Large Cap Blend Equities category across multiple time periods, showing how CVAAX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jul 17, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
SVPFXGoldman Sachs Strategic Volatility Premium Fund2.68
VPCCXVanguard PRIMECAP Core Fund2.61
FTZIXFuller & Thaler Behavioral Unconstrained Equity Fund2.55
GTLOXGlenmede Quantitative U.S. Large Cap Core Equity Portfolio2.55
VPMAXVanguard PRIMECAP Fund Admiral Shares2.48
POGRXPRIMECAP Odyssey Growth Fund2.46
POGSXPin Oak Equity2.46
ARTNXArtisan Select Equity Fund2.46
AMFEXAAMA Equity Fund2.44
STFGXState Farm Growth Fund2.44
CVAAXCalamos Select Fund1.16

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows CVAAX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when CVAAX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

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