CCEF vs. NXG
CCEF (Calamos CEF Income & Arbitrage ETF) and NXG (NXG NextGen Infrastructure Income Fund) are both funds - CCEF is a Dividend fund actively managed by Calamos, while NXG is a Global Equity Income fund actively managed by NXG. Both are actively managed. Over the past year, CCEF returned 16.03% vs 40.65% for NXG. At a 0.43 correlation, their price movements are largely independent. CCEF charges 2.74%/yr vs 1.00%/yr for NXG.
Performance
CCEF vs. NXG - Performance Comparison
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Returns By Period
In the year-to-date period, CCEF achieves a 6.10% return, which is significantly lower than NXG's 25.55% return.
CCEF
- 1D
- 0.36%
- 1M
- 1.30%
- YTD
- 6.10%
- 6M
- 7.04%
- 1Y
- 16.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NXG
- 1D
- 1.09%
- 1M
- 3.46%
- YTD
- 25.55%
- 6M
- 25.58%
- 1Y
- 40.65%
- 3Y*
- 35.48%
- 5Y*
- —
- 10Y*
- —
CCEF vs. NXG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 6.10% | 13.47% | 18.80% |
NXG NXG NextGen Infrastructure Income Fund | 25.55% | 25.98% | 46.99% |
Correlation
The correlation between CCEF and NXG is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024 | 0.43 |
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Return for Risk
CCEF vs. NXG — Risk / Return Rank
CCEF
NXG
CCEF vs. NXG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and NXG NextGen Infrastructure Income Fund (NXG). 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 | NXG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.38 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 3.10 | -1.02 |
| Martin ratioReturn relative to average drawdown | 9.04 | 8.52 | +0.52 |
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 | NXG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 2.14 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.51 | 1.01 | +0.50 |
Drawdowns
CCEF vs. NXG - Drawdown Comparison
The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum NXG drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for CCEF and NXG.
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Drawdown Indicators
| CCEF | NXG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -26.14% | +12.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -13.19% | +5.44% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.14% | — |
Current DrawdownCurrent decline from peak | -0.29% | 0.00% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -6.59% | +5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 4.78% | -3.00% |
Volatility
CCEF vs. NXG - Volatility Comparison
The current volatility for Calamos CEF Income & Arbitrage ETF (CCEF) is 2.28%, while NXG NextGen Infrastructure Income Fund (NXG) has a volatility of 5.85%. This indicates that CCEF experiences smaller price fluctuations and is considered to be less risky than NXG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCEF | NXG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.28% | 5.85% | -3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 6.66% | 14.07% | -7.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.95% | 19.12% | -11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.77% | 26.87% | -16.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.77% | 26.87% | -16.10% |
CCEF vs. NXG - Expense Ratio Comparison
CCEF has a 2.74% expense ratio, which is higher than NXG's 1.00% expense ratio.
Dividends
CCEF vs. NXG - Dividend Comparison
CCEF's dividend yield for the trailing twelve months is around 7.96%, less than NXG's 10.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 7.96% | 8.08% | 6.55% | 0.00% | 0.00% |
NXG NXG NextGen Infrastructure Income Fund | 10.74% | 12.83% | 14.15% | 12.00% | 1.11% |
Frequently Asked Questions
CCEF and NXG have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NXG has higher volatility (5.85%) compared to CCEF (2.28%). In terms of maximum drawdown, CCEF dropped -13.25% vs NXG's -26.14%.
NXG currently has the higher Sharpe Ratio (2.14 vs 2.03), 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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