APITX vs. CIGEX

Last updated Jul 15, 2026

APITX (Yorktown Growth Fund) and CIGEX (Calamos Global Equity Fund) are both Global Equities funds. Over the past 10 years, APITX returned 9.81%/yr vs 14.92%/yr for CIGEX. Their correlation of 0.90 suggests significant overlap in exposure. APITX charges 2.04%/yr vs 1.15%/yr for CIGEX.

Performance

APITX vs. CIGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Yorktown Growth Fund (APITX) and Calamos Global Equity Fund (CIGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with APITX having a 15.21% return and CIGEX slightly lower at 14.85%. Over the past 10 years, APITX has underperformed CIGEX with an annualized return of 9.81%, while CIGEX has yielded a comparatively higher 14.92% annualized return.

APITX

• 1D: -1.65%
• 1M: -3.02%
• 6M: 8.88%
• YTD: 15.21%
• 1Y: 22.69%
• 3Y*: 12.20%
• 5Y*: 4.82%
• 10Y*: 9.81%

CIGEX

• 1D: -1.85%
• 1M: -2.36%
• 6M: 9.20%
• YTD: 14.85%
• 1Y: 22.11%
• 3Y*: 22.90%
• 5Y*: 10.88%
• 10Y*: 14.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

APITX vs. CIGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APITX Yorktown Growth Fund	15.21%	10.90%	7.34%	19.37%	-26.74%	16.38%	28.59%	30.52%	-14.66%	26.20%
CIGEX Calamos Global Equity Fund	14.85%	18.46%	30.61%	24.55%	-27.42%	16.61%	44.24%	29.43%	-15.54%	34.56%

Correlation

The correlation between APITX and CIGEX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 2, 2007	0.90

The correlation between APITX and CIGEX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

Return for Risk

APITX vs. CIGEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APITX

APITX Risk / Return Rank: 34
APITX Sharpe Ratio Rank: 27
APITX Sortino Ratio Rank: 28
APITX Omega Ratio Rank: 26
APITX Calmar Ratio Rank: 44
APITX Martin Ratio Rank: 43

CIGEX

CIGEX Risk / Return Rank: 30
CIGEX Sharpe Ratio Rank: 27
CIGEX Sortino Ratio Rank: 26
CIGEX Omega Ratio Rank: 27
CIGEX Calmar Ratio Rank: 35
CIGEX Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APITX vs. CIGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Yorktown Growth Fund (APITX) and Calamos Global Equity Fund (CIGEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	APITX	CIGEX	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.10	+0.01
Sortino ratio: Return per unit of downside risk	1.64	1.57	+0.07
Omega ratio: Gain probability vs. loss probability	1.20	1.20	-0.01
Calmar ratio: Return relative to maximum drawdown	1.99	1.75	+0.24
Martin ratio: Return relative to average drawdown	7.20	6.25	+0.95

APITX vs. CIGEX - Sharpe Ratio Comparison

The current APITX Sharpe Ratio is 1.11, which is comparable to the CIGEX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of APITX and CIGEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APITX vs. CIGEX - Drawdown Comparison

The maximum APITX drawdown since its inception was -63.33%, roughly equal to the maximum CIGEX drawdown of -60.48%. Use the drawdown chart below to compare losses from any high point for APITX and CIGEX.

Drawdown Indicators

	APITX	CIGEX	Difference
Max Drawdown Largest peak-to-trough decline	-63.33%	-60.48%	-2.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-13.31%	+1.55%
Max Drawdown (3Y) Largest decline over 3 years	-24.80%	-20.41%	-4.39%
Max Drawdown (5Y) Largest decline over 5 years	-35.69%	-35.81%	+0.12%
Max Drawdown (10Y) Largest decline over 10 years	-35.69%	-35.81%	+0.12%
Current Drawdown Current decline from peak	-5.47%	-6.39%	+0.92%
Average Drawdown Average peak-to-trough decline	-14.37%	-10.30%	-4.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	3.72%	-0.47%

Volatility

APITX vs. CIGEX - Volatility Comparison

The current volatility for Yorktown Growth Fund (APITX) is 7.43%, while Calamos Global Equity Fund (CIGEX) has a volatility of 8.36%. This indicates that APITX experiences smaller price fluctuations and is considered to be less risky than CIGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APITX	CIGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	8.36%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	17.12%	17.83%	-0.71%
Volatility (1Y) Calculated over the trailing 1-year period	21.10%	21.13%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	19.84%	+1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.03%	19.55%	-0.52%

APITX vs. CIGEX - Expense Ratio Comparison

APITX has a 2.04% expense ratio, which is higher than CIGEX's 1.15% expense ratio.

Dividends

APITX vs. CIGEX - Dividend Comparison

APITX has not paid dividends to shareholders, while CIGEX's dividend yield for the trailing twelve months is around 13.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APITX Yorktown Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	18.81%	13.95%	9.40%	25.45%	7.74%	1.09%	3.16%
CIGEX Calamos Global Equity Fund	13.38%	15.37%	8.67%	0.10%	4.43%	11.75%	6.51%	7.44%	27.66%	9.21%	4.62%	1.98%

Frequently Asked Questions

Can I hold both APITX and CIGEX in my portfolio?

APITX and CIGEX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APITX or CIGEX?

CIGEX has higher volatility (8.36%) compared to APITX (7.43%). In terms of maximum drawdown, APITX dropped -63.33% vs CIGEX's -60.48%.

Which has better risk-adjusted returns?

APITX currently has the higher Sharpe Ratio (1.11 vs 1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.