CCEF vs. PAPI
Compare and contrast key facts about Calamos CEF Income & Arbitrage ETF (CCEF) and Parametric Equity Premium Income ETF (PAPI).
CCEF and PAPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CCEF is an actively managed fund by Calamos. It was launched on Jan 16, 2024. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CCEF or PAPI.
Correlation
The correlation between CCEF and PAPI is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CCEF vs. PAPI - Performance Comparison
Key characteristics
CCEF:
0.93
PAPI:
0.32
CCEF:
1.24
PAPI:
0.53
CCEF:
1.21
PAPI:
1.07
CCEF:
0.93
PAPI:
0.30
CCEF:
4.65
PAPI:
1.17
CCEF:
2.66%
PAPI:
3.67%
CCEF:
13.26%
PAPI:
13.62%
CCEF:
-13.25%
PAPI:
-14.27%
CCEF:
-8.19%
PAPI:
-8.45%
Returns By Period
In the year-to-date period, CCEF achieves a -3.60% return, which is significantly lower than PAPI's -2.05% return.
CCEF
-3.60%
-6.58%
-5.60%
11.93%
N/A
N/A
PAPI
-2.05%
-4.82%
-6.29%
4.03%
N/A
N/A
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CCEF vs. PAPI - Expense Ratio Comparison
CCEF has a 2.74% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Risk-Adjusted Performance
CCEF vs. PAPI — Risk-Adjusted Performance Rank
CCEF
PAPI
CCEF vs. PAPI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and Parametric Equity Premium Income ETF (PAPI). 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.
Dividends
CCEF vs. PAPI - Dividend Comparison
CCEF's dividend yield for the trailing twelve months is around 8.46%, more than PAPI's 7.46% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 8.46% | 6.55% | 0.00% |
PAPI Parametric Equity Premium Income ETF | 7.46% | 7.07% | 1.45% |
Drawdowns
CCEF vs. PAPI - Drawdown Comparison
The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum PAPI drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for CCEF and PAPI. For additional features, visit the drawdowns tool.
Volatility
CCEF vs. PAPI - Volatility Comparison
Calamos CEF Income & Arbitrage ETF (CCEF) has a higher volatility of 10.08% compared to Parametric Equity Premium Income ETF (PAPI) at 9.26%. This indicates that CCEF's price experiences larger fluctuations and is considered to be riskier than PAPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.