CCD vs. PHYSX
CCD (Calamos Dynamic Convertible and Income Fund) is a stock, while PHYSX (PIA High Yield Fund) is High Yield Bonds fund managed by PIA Mutual Funds. Over the past 10 years, CCD returned 14.01%/yr vs 5.41%/yr for PHYSX. At a 0.36 correlation, their price movements are largely independent.
Performance
CCD vs. PHYSX - Performance Comparison
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Returns By Period
In the year-to-date period, CCD achieves a 26.13% return, which is significantly higher than PHYSX's 1.22% return. Over the past 10 years, CCD has outperformed PHYSX with an annualized return of 14.01%, while PHYSX has yielded a comparatively lower 5.41% annualized return.
CCD
- 1D
- -1.25%
- 1M
- 3.04%
- YTD
- 26.13%
- 6M
- 22.87%
- 1Y
- 45.94%
- 3Y*
- 17.28%
- 5Y*
- 5.90%
- 10Y*
- 14.01%
PHYSX
- 1D
- -0.12%
- 1M
- 1.03%
- YTD
- 1.22%
- 6M
- 1.53%
- 1Y
- 2.80%
- 3Y*
- 6.95%
- 5Y*
- 3.58%
- 10Y*
- 5.41%
CCD vs. PHYSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CCD Calamos Dynamic Convertible and Income Fund | 26.13% | -4.26% | 35.89% | 7.98% | -28.00% | 20.33% | 45.75% | 41.60% | -9.64% | 26.56% |
PHYSX PIA High Yield Fund | 1.22% | 1.82% | 10.33% | 16.17% | -11.70% | 7.36% | 8.03% | 11.06% | -2.77% | 8.04% |
Correlation
The correlation between CCD and PHYSX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2015 | 0.36 |
The correlation between CCD and PHYSX shifts across timeframes, from 0.36 (10 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CCD vs. PHYSX — Risk / Return Rank
CCD
PHYSX
CCD vs. PHYSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Dynamic Convertible and Income Fund (CCD) and PIA High Yield Fund (PHYSX). 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.
| CCD | PHYSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.19 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 4.17 | 0.80 | +3.37 |
| Martin ratioReturn relative to average drawdown | 18.09 | 2.35 | +15.74 |
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Drawdowns
CCD vs. PHYSX - Drawdown Comparison
The maximum CCD drawdown since its inception was -55.42%, which is greater than PHYSX's maximum drawdown of -24.10%. Use the drawdown chart below to compare losses from any high point for CCD and PHYSX.
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Drawdown Indicators
| CCD | PHYSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.42% | -24.10% | -31.32% |
Max Drawdown (1Y)Largest decline over 1 year | -11.08% | -3.82% | -7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -6.11% | -16.17% |
Max Drawdown (5Y)Largest decline over 5 years | -37.54% | -13.99% | -23.55% |
Max Drawdown (10Y)Largest decline over 10 years | -55.42% | -19.86% | -35.56% |
Current DrawdownCurrent decline from peak | -1.81% | -0.12% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -11.78% | -1.88% | -9.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 1.30% | +1.25% |
Volatility
CCD vs. PHYSX - Volatility Comparison
Calamos Dynamic Convertible and Income Fund (CCD) has a higher volatility of 6.28% compared to PIA High Yield Fund (PHYSX) at 0.65%. This indicates that CCD's price experiences larger fluctuations and is considered to be riskier than PHYSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCD | PHYSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 0.65% | +5.63% |
Volatility (6M)Calculated over the trailing 6-month period | 15.43% | 2.56% | +12.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.28% | 3.23% | +15.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.44% | 4.06% | +16.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.88% | 4.09% | +21.79% |
Dividends
CCD vs. PHYSX - Dividend Comparison
CCD's dividend yield for the trailing twelve months is around 9.27%, more than PHYSX's 7.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCD Calamos Dynamic Convertible and Income Fund | 9.27% | 11.22% | 9.63% | 11.83% | 11.42% | 7.43% | 7.11% | 8.93% | 12.21% | 9.99% | 11.43% | 7.40% |
PHYSX PIA High Yield Fund | 7.36% | 8.44% | 7.66% | 7.12% | 7.60% | 6.14% | 6.31% | 6.76% | 6.51% | 6.37% | 6.10% | 6.40% |
Frequently Asked Questions
CCD and PHYSX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCD has higher volatility (6.28%) compared to PHYSX (0.65%). In terms of maximum drawdown, CCD dropped -55.42% vs PHYSX's -24.10%.
CCD currently has the higher Sharpe Ratio (2.53 vs 0.95), 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.
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