CCEF vs. PRPFX
Compare and contrast key facts about Calamos CEF Income & Arbitrage ETF (CCEF) and Permanent Portfolio Permanent Portfolio (PRPFX).
CCEF is an actively managed fund by Calamos. It was launched on Jan 16, 2024. PRPFX is managed by Permanent Portfolio. It was launched on Nov 30, 1982.
Performance
CCEF vs. PRPFX - Performance Comparison
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CCEF vs. PRPFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | -0.88% | 13.47% | 18.80% |
PRPFX Permanent Portfolio Permanent Portfolio | 2.72% | 28.78% | 21.14% |
Returns By Period
In the year-to-date period, CCEF achieves a -0.88% return, which is significantly lower than PRPFX's 2.72% return.
CCEF
- 1D
- 2.33%
- 1M
- -5.25%
- YTD
- -0.88%
- 6M
- 0.93%
- 1Y
- 9.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRPFX
- 1D
- -0.31%
- 1M
- -7.34%
- YTD
- 2.72%
- 6M
- 8.96%
- 1Y
- 25.00%
- 3Y*
- 19.97%
- 5Y*
- 12.20%
- 10Y*
- 10.84%
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CCEF vs. PRPFX - Expense Ratio Comparison
CCEF has a 2.74% expense ratio, which is higher than PRPFX's 0.81% expense ratio.
Return for Risk
CCEF vs. PRPFX — Risk / Return Rank
CCEF
PRPFX
CCEF vs. PRPFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and Permanent Portfolio Permanent Portfolio (PRPFX). 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 | PRPFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.78 | 1.86 | -1.08 |
Sortino ratioReturn per unit of downside risk | 1.07 | 2.31 | -1.24 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.40 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 0.89 | 3.07 | -2.18 |
Martin ratioReturn relative to average drawdown | 4.11 | 11.17 | -7.06 |
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 | PRPFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 1.86 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.11 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.29 | 0.80 | +0.49 |
Correlation
The correlation between CCEF and PRPFX is 0.58, 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.
Dividends
CCEF vs. PRPFX - Dividend Comparison
CCEF's dividend yield for the trailing twelve months is around 8.33%, more than PRPFX's 3.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCEF Calamos CEF Income & Arbitrage ETF | 8.33% | 8.08% | 6.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRPFX Permanent Portfolio Permanent Portfolio | 3.18% | 3.27% | 1.86% | 1.39% | 1.58% | 2.05% | 5.38% | 4.69% | 6.90% | 2.14% | 0.95% | 7.06% |
Drawdowns
CCEF vs. PRPFX - Drawdown Comparison
The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum PRPFX drawdown of -27.16%. Use the drawdown chart below to compare losses from any high point for CCEF and PRPFX.
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Drawdown Indicators
| CCEF | PRPFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -27.16% | +13.91% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -8.10% | -3.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.84% | — |
Current DrawdownCurrent decline from peak | -5.60% | -8.10% | +2.50% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -3.52% | +2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 2.22% | +0.26% |
Volatility
CCEF vs. PRPFX - Volatility Comparison
Calamos CEF Income & Arbitrage ETF (CCEF) has a higher volatility of 4.62% compared to Permanent Portfolio Permanent Portfolio (PRPFX) at 3.59%. This indicates that CCEF's price experiences larger fluctuations and is considered to be riskier than PRPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCEF | PRPFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 3.59% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 6.53% | 11.32% | -4.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.79% | 13.77% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 11.04% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.94% | 10.57% | +0.37% |