CCEF vs. DEW
CCEF (Calamos CEF Income & Arbitrage ETF) and DEW (WisdomTree Global High Dividend Fund) are both exchange-traded funds - CCEF is a Dividend fund actively managed by Calamos, while DEW is a Large Cap Value Equities fund tracking the WisdomTree Global High Dividend Index. CCEF is actively managed, while DEW is passively managed. Over the past year, CCEF returned 12.87% vs 30.52% for DEW. Their 0.64 correlation means they have sometimes moved together and sometimes differently. CCEF charges 2.74%/yr vs 0.58%/yr for DEW.
Performance
CCEF vs. DEW - Performance Comparison
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Returns By Period
In the year-to-date period, CCEF achieves a 6.53% return, which is significantly lower than DEW's 19.31% return.
CCEF
- 1D
- 0.34%
- 1M
- -0.32%
- 6M
- 3.30%
- YTD
- 6.53%
- 1Y
- 12.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.94%
DEW
- 1D
- -0.26%
- 1M
- 4.29%
- 6M
- 12.79%
- YTD
- 19.31%
- 1Y
- 30.52%
- 3Y*
- 19.28%
- 5Y*
- 12.89%
- 10Y*
- 9.75%
- ALL TIME*
- 6.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $74.18K | $103.33K | $101.25K | |
| $1.14M | $632.09K | $360.65K |
CCEF vs. DEW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 6.53% | 13.47% | 17.80% |
DEW WisdomTree Global High Dividend Fund | 19.31% | 22.39% | 12.00% |
Correlation
The correlation between CCEF and DEW is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2024 | 0.64 |
The correlation between CCEF and DEW shifts across timeframes, from 0.51 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CCEF vs. DEW — Risk / Return Rank
CCEF
DEW
CCEF vs. DEW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and WisdomTree Global High Dividend Fund (DEW). 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.
| CCEF | DEW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.58 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 4.77 | -3.20 |
| Martin ratioReturn relative to average drawdown | 6.74 | 19.32 | -12.57 |
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Drawdowns
CCEF vs. DEW - Drawdown Comparison
The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum DEW drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for CCEF and DEW.
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Drawdown Indicators
| CCEF | DEW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -65.55% | +52.30% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -6.34% | -1.41% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.77% | — |
Current DrawdownCurrent decline from peak | -0.86% | -0.26% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -1.32% | -12.34% | +11.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.56% | +0.25% |
Volatility
CCEF vs. DEW - Volatility Comparison
The current volatility for Calamos CEF Income & Arbitrage ETF (CCEF) is 2.06%, while WisdomTree Global High Dividend Fund (DEW) has a volatility of 2.21%. This indicates that CCEF experiences smaller price fluctuations and is considered to be less risky than DEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCEF | DEW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 2.21% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 7.14% | 7.24% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 9.55% | -1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.66% | 12.90% | -2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.66% | 15.36% | -4.70% |
CCEF vs. DEW - Expense Ratio Comparison
CCEF has a 2.74% expense ratio, which is higher than DEW's 0.58% expense ratio.
Dividends
CCEF vs. DEW - Dividend Comparison
CCEF's dividend yield for the trailing twelve months is around 8.01%, more than DEW's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 7.36% | 8.08% | 6.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DEW WisdomTree Global High Dividend Fund | 3.12% | 3.71% | 4.02% | 4.55% | 3.82% | 3.55% | 4.10% | 3.74% | 4.17% | 3.18% | 3.42% | 4.32% |
Frequently Asked Questions
CCEF and DEW have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DEW has higher volatility (2.21%) compared to CCEF (2.06%). In terms of maximum drawdown, CCEF dropped -13.25% vs DEW's -65.55%.
On 1-year performance, DEW leads with 30.52% vs 12.87% for CCEF. On fees, DEW is cheaper at 0.58% per year. On volatility, CCEF has been the lower-risk option at 2.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DEW has performed better with a 30.52% return vs 12.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DEW is cheaper with a 0.58% expense ratio, compared with 2.74% for CCEF.
CCEF has the higher dividend yield at 7.36%, compared with 3.12% for DEW.
CCEF is categorized as Dividend, while DEW is Large Cap Value Equities. They also come from different issuers: Calamos and WisdomTree. Their fees differ too: 2.74% for CCEF and 0.58% for DEW.
DEW currently has the higher Sharpe Ratio (3.18 vs 1.45), 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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