CCEF vs. ISPA.DE
CCEF (Calamos CEF Income & Arbitrage ETF) and ISPA.DE (iShares STOXX Global Select Dividend 100 UCITS ETF (DE)) are both exchange-traded funds - CCEF is a Dividend fund actively managed by Calamos, while ISPA.DE is a Global Equities fund tracking the STOXX® Global Select Dividend 100 index. CCEF is actively managed, while ISPA.DE is passively managed. Over the past year, CCEF returned 16.03% vs 31.76% for ISPA.DE. A 0.52 correlation means they provide meaningful diversification when combined. CCEF charges 2.74%/yr vs 0.46%/yr for ISPA.DE.
Performance
CCEF vs. ISPA.DE - Performance Comparison
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Different Trading Currencies
CCEF is traded in USD, while ISPA.DE is traded in EUR. To make them comparable, the ISPA.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CCEF achieves a 6.10% return, which is significantly lower than ISPA.DE's 12.18% return.
CCEF
- 1D
- 0.36%
- 1M
- 1.30%
- YTD
- 6.10%
- 6M
- 7.04%
- 1Y
- 16.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISPA.DE
- 1D
- 0.61%
- 1M
- 1.82%
- YTD
- 12.18%
- 6M
- 15.16%
- 1Y
- 31.76%
- 3Y*
- 21.88%
- 5Y*
- 9.97%
- 10Y*
- 9.23%
CCEF vs. ISPA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 6.10% | 13.47% | 18.80% |
ISPA.DE iShares STOXX Global Select Dividend 100 UCITS ETF (DE) | 12.18% | 35.16% | 9.08% |
Correlation
The correlation between CCEF and ISPA.DE is 0.58, 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 | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024 | 0.52 |
The correlation between CCEF and ISPA.DE has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.
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Return for Risk
CCEF vs. ISPA.DE — Risk / Return Rank
CCEF
ISPA.DE
CCEF vs. ISPA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and iShares STOXX Global Select Dividend 100 UCITS ETF (DE) (ISPA.DE). 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.
| CCEF | ISPA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.53 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 5.88 | -3.81 |
| Martin ratioReturn relative to average drawdown | 9.04 | 20.03 | -11.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CCEF | ISPA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 3.02 | -0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.51 | 0.52 | +1.00 |
Drawdowns
CCEF vs. ISPA.DE - Drawdown Comparison
The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum ISPA.DE drawdown of -40.28%. Use the drawdown chart below to compare losses from any high point for CCEF and ISPA.DE.
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Drawdown Indicators
| CCEF | ISPA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -40.28% | +27.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -5.38% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.70% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.28% | — |
Current DrawdownCurrent decline from peak | -0.29% | -1.35% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -5.77% | +4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.58% | +0.20% |
Volatility
CCEF vs. ISPA.DE - Volatility Comparison
The current volatility for Calamos CEF Income & Arbitrage ETF (CCEF) is 2.28%, while iShares STOXX Global Select Dividend 100 UCITS ETF (DE) (ISPA.DE) has a volatility of 3.09%. This indicates that CCEF experiences smaller price fluctuations and is considered to be less risky than ISPA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCEF | ISPA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.28% | 3.09% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 6.66% | 7.98% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.95% | 10.48% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.77% | 14.43% | -3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.77% | 16.27% | -5.50% |
CCEF vs. ISPA.DE - Expense Ratio Comparison
CCEF has a 2.74% expense ratio, which is higher than ISPA.DE's 0.46% expense ratio.
Dividends
CCEF vs. ISPA.DE - Dividend Comparison
CCEF's dividend yield for the trailing twelve months is around 7.96%, more than ISPA.DE's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 7.96% | 8.08% | 6.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISPA.DE iShares STOXX Global Select Dividend 100 UCITS ETF (DE) | 3.75% | 4.52% | 4.89% | 5.91% | 6.92% | 3.32% | 4.04% | 4.02% | 3.37% | 5.66% | 3.64% | 4.35% |
Frequently Asked Questions
CCEF and ISPA.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISPA.DE is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISPA.DE is cheaper with a 0.46% expense ratio, compared with 2.74% for CCEF.
CCEF is categorized as Dividend, while ISPA.DE is Global Equities. They also come from different issuers: Calamos and iShares. Their fees differ too: 2.74% for CCEF and 0.46% for ISPA.DE.
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