BPGLX vs. CHW

Last updated Jun 5, 2026

BPGLX (UBS Global Allocation Fund) and CHW (Calamos Global Dynamic Income Fund) are both Global Allocation funds. Over the past 10 years, BPGLX returned 7.51%/yr vs 12.73%/yr for CHW. A 0.67 correlation means they provide meaningful diversification when combined. BPGLX charges 0.95%/yr vs 2.63%/yr for CHW.

Performance

BPGLX vs. CHW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Global Allocation Fund (BPGLX) and Calamos Global Dynamic Income Fund (CHW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPGLX achieves a 8.42% return, which is significantly lower than CHW's 24.93% return. Over the past 10 years, BPGLX has underperformed CHW with an annualized return of 7.51%, while CHW has yielded a comparatively higher 12.73% annualized return.

BPGLX

• 1D: -0.60%
• 1M: 3.14%
• YTD: 8.42%
• 6M: 9.18%
• 1Y: 24.47%
• 3Y*: 14.51%
• 5Y*: 5.43%
• 10Y*: 7.51%

CHW

• 1D: -0.44%
• 1M: 6.97%
• YTD: 24.93%
• 6M: 27.65%
• 1Y: 42.52%
• 3Y*: 26.28%
• 5Y*: 6.17%
• 10Y*: 12.73%

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

BPGLX vs. CHW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPGLX UBS Global Allocation Fund	8.42%	19.02%	8.56%	9.69%	-16.82%	8.09%	13.84%	19.05%	-7.56%	17.08%
CHW Calamos Global Dynamic Income Fund	24.93%	19.55%	27.82%	14.55%	-37.74%	13.07%	22.28%	47.12%	-20.33%	43.78%

Correlation

The correlation between BPGLX and CHW is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 27, 2007	0.67

The correlation between BPGLX and CHW has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

Return for Risk

BPGLX vs. CHW — Risk / Return Rank

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

BPGLX

BPGLX Risk / Return Rank: 72
BPGLX Sharpe Ratio Rank: 80
BPGLX Sortino Ratio Rank: 76
BPGLX Omega Ratio Rank: 76
BPGLX Calmar Ratio Rank: 62
BPGLX Martin Ratio Rank: 66

CHW

CHW Risk / Return Rank: 68
CHW Sharpe Ratio Rank: 84
CHW Sortino Ratio Rank: 75
CHW Omega Ratio Rank: 74
CHW Calmar Ratio Rank: 55
CHW Martin Ratio Rank: 55

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.

BPGLX vs. CHW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Global Allocation Fund (BPGLX) and Calamos Global Dynamic Income Fund (CHW). 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.

	BPGLX	CHW	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.68	-0.08
Sortino ratio: Return per unit of downside risk	3.64	3.56	+0.08
Omega ratio: Gain probability vs. loss probability	1.49	1.47	+0.02
Calmar ratio: Return relative to maximum drawdown	3.00	2.75	+0.24
Martin ratio: Return relative to average drawdown	12.61	10.60	+2.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPGLX vs. CHW - Sharpe Ratio Comparison

The current BPGLX Sharpe Ratio is 2.60, which is comparable to the CHW Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of BPGLX and CHW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BPGLX	CHW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.68	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.32	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.57	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.29	+0.23

Drawdowns

BPGLX vs. CHW - Drawdown Comparison

The maximum BPGLX drawdown since its inception was -53.03%, smaller than the maximum CHW drawdown of -66.94%. Use the drawdown chart below to compare losses from any high point for BPGLX and CHW.

Drawdown Indicators

	BPGLX	CHW	Difference
Max Drawdown Largest peak-to-trough decline	-53.03%	-66.94%	+13.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-15.51%	+6.52%
Max Drawdown (3Y) Largest decline over 3 years	-11.25%	-20.40%	+9.15%
Max Drawdown (5Y) Largest decline over 5 years	-22.24%	-46.11%	+23.87%
Max Drawdown (10Y) Largest decline over 10 years	-23.37%	-53.58%	+30.21%
Current Drawdown Current decline from peak	-0.60%	-1.31%	+0.71%
Average Drawdown Average peak-to-trough decline	-5.78%	-14.88%	+9.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	4.02%	-1.96%

Volatility

BPGLX vs. CHW - Volatility Comparison

The current volatility for UBS Global Allocation Fund (BPGLX) is 2.86%, while Calamos Global Dynamic Income Fund (CHW) has a volatility of 6.72%. This indicates that BPGLX experiences smaller price fluctuations and is considered to be less risky than CHW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPGLX	CHW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	6.72%	-3.86%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	13.60%	-5.04%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	15.95%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.62%	19.12%	-8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.83%	22.30%	-11.47%

BPGLX vs. CHW - Expense Ratio Comparison

BPGLX has a 0.95% expense ratio, which is lower than CHW's 2.63% expense ratio.

Dividends

BPGLX vs. CHW - Dividend Comparison

BPGLX's dividend yield for the trailing twelve months is around 1.91%, less than CHW's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPGLX UBS Global Allocation Fund	1.91%	2.08%	2.02%	2.37%	4.65%	18.98%	1.78%	7.15%	0.00%	1.64%	2.42%	2.83%
CHW Calamos Global Dynamic Income Fund	6.64%	8.10%	8.89%	10.40%	13.62%	8.43%	8.79%	9.67%	12.82%	9.25%	12.05%	11.73%

Frequently Asked Questions

Can I hold both BPGLX and CHW in my portfolio?

BPGLX and CHW have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPGLX or CHW?

CHW has higher volatility (6.72%) compared to BPGLX (2.86%). In terms of maximum drawdown, BPGLX dropped -53.03% vs CHW's -66.94%.

Which has better risk-adjusted returns?

CHW currently has the higher Sharpe Ratio (2.68 vs 2.60), 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.