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Calamos Growth Fund (CVGRX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The investment seeks long-term capital growth. The fund invests primarily in equity securities issued by U.S. companies. It currently anticipates that substantially all of its portfolio will consist of securities of companies with large and mid-sized market capitalizations. 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. It may invest up to 25% of its net assets in foreign securities.

Looking to diversify beyond CVGRX? The mutual funds below have the lowest correlation with CVGRX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CVGRX.

Best Diversifiers for CVGRX

2 mutual funds have low correlation with CVGRX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Municipal Ultra Short Fund (FMUSX) (Municipal Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FMUSX
Federated Hermes Municipal Ultra Short Fund0.060.060.05
93
Municipal BondsCVGRX vs FMUSX
CAPIX
Calamos Aksia Alternative Credit and Income Fund C...0.15——
98
Bank LoanCVGRX vs CAPIX
EFCNX
Emerald Insights Fund0.380.790.87
99
Large Cap Growth EquitiesCVGRX vs EFCNX
LAVLX
Lord Abbett Mid Cap Stock Fund0.510.560.67
51
Mid Cap Value EquitiesCVGRX vs LAVLX
NCBVX
PGIM Quant Solutions Mid-Cap Value Fund0.540.530.63
76
Mid Cap Value EquitiesCVGRX vs NCBVX
See all 42 diversifiers for CVGRX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from CVGRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVGRX and solid risk/return profiles. The least correlated is Royce Value Trust Inc. (RVT) (Financial Services) with a 1Y correlation of 0.59, roughly unchanged from 0.68 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
RVT
Royce Value Trust Inc.0.590.590.68
83
Financial Services

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Diversification Analysis

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