- Issuer
- Calamos
- Inception Date
- Oct 4, 2023
- Region
- North America (U.S.)
- Category
- Convertible Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $29M
Share Price Chart
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Performance
CVRT Performance Chart
Calamos Convertible Equity Alternative ETF (CVRT) is up 39.1% since the beginning of the year. CVRT is currently trading at $53 per share.
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Returns By Period
Calamos Convertible Equity Alternative ETF (CVRT) has returned 39.11% so far this year and 74.38% over the past 12 months.
Calamos Convertible Equity Alternative ETF
- 1D
- -0.13%
- 1M
- 3.58%
- YTD
- 39.11%
- 6M
- 36.22%
- 1Y
- 74.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
CVRT Monthly Returns History
Based on dividend-adjusted daily data since Oct 4, 2023, CVRT's average daily return is +0.13%, while the average monthly return is +2.65%. At this rate, an investment would double in approximately 2.2 years.
Historically, 76% of months were positive and 24% were negative. The best month was Apr 2026 with a return of +16.7%, while the worst month was Dec 2024 at -7.8%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 2 months.
On a daily basis, CVRT closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +8.2%, while the worst single day was Jun 5, 2026 at -5.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.63% | 4.67% | -3.00% | 16.71% | 7.82% | 1.17% | 39.11% | ||||||
| 2025 | 5.13% | -5.06% | -4.29% | 2.10% | 5.20% | 4.55% | 4.81% | 2.54% | 6.03% | 5.98% | 0.64% | -0.77% | 29.37% |
| 2024 | -2.06% | 3.17% | 2.43% | -5.55% | 3.33% | 0.24% | 1.68% | 1.90% | 2.21% | 0.49% | 14.01% | -7.84% | 13.23% |
| 2023 | -5.08% | 9.98% | 6.75% | 11.44% |
Benchmark Metrics
Calamos Convertible Equity Alternative ETF has an annualized alpha of 9.80%, beta of 1.04, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since October 04, 2023.
- This ETF captured 140.77% of S&P 500 Index gains but only 99.53% of its losses - a favorable profile for investors.
- This ETF generated an annualized alpha of 9.80% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.04 and R2 of 0.62, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 9.80%
- Beta
- 1.04
- R²
- 0.62
- Upside Capture
- 140.77%
- Downside Capture
- 99.53%
Expense Ratio
CVRT has an expense ratio of 0.69%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CVRT ranks 93 for risk / return — in the top 93% of ETFs 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 Equity Alternative ETF (CVRT) 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.
| CVRT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.37 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 8.70 | 2.78 | +5.91 |
| Martin ratioReturn relative to average drawdown | 30.60 | 12.44 | +18.16 |
Dividends
Dividend History
Calamos Convertible Equity Alternative ETF provided a 1.44% dividend yield over the last twelve months, with an annual payout of $0.76 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.76 | $0.64 | $0.45 | $0.09 |
Dividend yield | 1.44% | 1.68% | 1.49% | 0.32% |
Monthly Dividends
The table displays the monthly dividend distributions for Calamos Convertible Equity Alternative ETF. 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 | $0.04 | $0.04 | $0.04 | $0.06 | $0.05 | $0.24 | ||||||
| 2025 | $0.00 | $0.03 | $0.04 | $0.02 | $0.00 | $0.03 | $0.06 | $0.06 | $0.08 | $0.08 | $0.07 | $0.17 | $0.64 |
| 2024 | $0.00 | $0.00 | $0.03 | $0.06 | $0.03 | $0.05 | $0.07 | $0.06 | $0.05 | $0.00 | $0.03 | $0.08 | $0.45 |
| 2023 | $0.09 | $0.09 |
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 Equity Alternative ETF. 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 Equity Alternative ETF was 20.71%, occurring on Apr 8, 2025. Recovery took 62 trading sessions.
The current Calamos Convertible Equity Alternative ETF drawdown is 2.45%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -20.71%Apr 2025 | 4mo 7d | 3mo 2d | 7mo 9dDec 2024 - Jul 2025 |
2024 pullback2024 | -9.42%Aug 2024 | 19d | 1mo 15d | 2mo 4dJul 2024 - Sep 2024 |
2026 pullback2026 | -8.60%Mar 2026 | 1mo 2d | 9d | 1mo 11dFeb 2026 - Apr 2026 |
2026 pullback2026 | -8.57%Jun 2026 | 7d | — | 20d 9hJun 2026 - now |
2023 pullback2023 | -8.52%Oct 2023 | 18d | 1mo | 1mo 18dOct 2023 - Nov 2023 |
Drawdown Indicators
| CVRT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.71% | -56.78% | +36.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.60% | -9.10% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.45% | -1.80% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -10.71% | +7.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.03% | +0.41% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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