CCEF vs. VDIV.DE

Last updated Jun 5, 2026

CCEF (Calamos CEF Income & Arbitrage ETF) and VDIV.DE (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - CCEF is a Dividend fund actively managed by Calamos, while VDIV.DE is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. CCEF is actively managed, while VDIV.DE is passively managed. Over the past year, CCEF returned 16.03% vs 27.80% for VDIV.DE. At a 0.40 correlation, their price movements are largely independent. CCEF charges 2.74%/yr vs 0.38%/yr for VDIV.DE.

Performance

CCEF vs. VDIV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos CEF Income & Arbitrage ETF (CCEF) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CCEF is traded in USD, while VDIV.DE is traded in EUR. To make them comparable, the VDIV.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 VDIV.DE's 8.53% return.

CCEF

• 1D: 0.36%
• 1M: 1.30%
• YTD: 6.10%
• 6M: 7.04%
• 1Y: 16.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VDIV.DE

• 1D: 0.36%
• 1M: -0.68%
• YTD: 8.53%
• 6M: 12.42%
• 1Y: 27.80%
• 3Y*: 23.23%
• 5Y*: 16.42%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CCEF vs. VDIV.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CCEF Calamos CEF Income & Arbitrage ETF	6.10%	13.47%	18.80%
VDIV.DE VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	8.53%	40.61%	11.30%

Correlation

The correlation between CCEF and VDIV.DE 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	0.40

Return for Risk

CCEF vs. VDIV.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CCEF

CCEF Risk / Return Rank: 57
CCEF Sharpe Ratio Rank: 61
CCEF Sortino Ratio Rank: 61
CCEF Omega Ratio Rank: 65
CCEF Calmar Ratio Rank: 42
CCEF Martin Ratio Rank: 53

VDIV.DE

VDIV.DE Risk / Return Rank: 88
VDIV.DE Sharpe Ratio Rank: 84
VDIV.DE Sortino Ratio Rank: 86
VDIV.DE Omega Ratio Rank: 85
VDIV.DE Calmar Ratio Rank: 94
VDIV.DE Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CCEF vs. VDIV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.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	VDIV.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.53	-0.50
Sortino ratio: Return per unit of downside risk	2.83	3.41	-0.57
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.07
Calmar ratio: Return relative to maximum drawdown	2.08	5.16	-3.09
Martin ratio: Return relative to average drawdown	9.04	15.65	-6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CCEF vs. VDIV.DE - Sharpe Ratio Comparison

The current CCEF Sharpe Ratio is 2.03, which is comparable to the VDIV.DE Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of CCEF and VDIV.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CCEF	VDIV.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.53	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.51	0.88	+0.63

Drawdowns

CCEF vs. VDIV.DE - Drawdown Comparison

The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum VDIV.DE drawdown of -37.84%. Use the drawdown chart below to compare losses from any high point for CCEF and VDIV.DE.

Drawdown Indicators

	CCEF	VDIV.DE	Difference
Max Drawdown Largest peak-to-trough decline	-13.25%	-37.84%	+24.59%
Max Drawdown (1Y) Largest decline over 1 year	-7.75%	-5.36%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.50%	—
Current Drawdown Current decline from peak	-0.29%	-2.65%	+2.36%
Average Drawdown Average peak-to-trough decline	-1.35%	-4.37%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.77%	+0.01%

Volatility

CCEF vs. VDIV.DE - Volatility Comparison

The current volatility for Calamos CEF Income & Arbitrage ETF (CCEF) is 2.28%, while VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE) has a volatility of 3.11%. This indicates that CCEF experiences smaller price fluctuations and is considered to be less risky than VDIV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCEF	VDIV.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	3.11%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	7.95%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	10.96%	-3.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	14.27%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	16.89%	-6.12%

CCEF vs. VDIV.DE - Expense Ratio Comparison

CCEF has a 2.74% expense ratio, which is higher than VDIV.DE's 0.38% expense ratio.

Dividends

CCEF vs. VDIV.DE - Dividend Comparison

CCEF's dividend yield for the trailing twelve months is around 7.96%, more than VDIV.DE's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CCEF Calamos CEF Income & Arbitrage ETF	7.96%	8.08%	6.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDIV.DE VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.19%	3.58%	4.19%	4.97%	4.56%	3.97%	4.11%	4.35%	0.91%

Frequently Asked Questions

Can I hold both CCEF and VDIV.DE in my portfolio?

CCEF and VDIV.DE 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.

Which ETF is better, CCEF or VDIV.DE?

On fees, VDIV.DE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CCEF or VDIV.DE?

VDIV.DE is cheaper with a 0.38% expense ratio, compared with 2.74% for CCEF.

What is the main difference between CCEF and VDIV.DE?

CCEF is categorized as Dividend, while VDIV.DE is Global Equities. They also come from different issuers: Calamos and VanEck. Their fees differ too: 2.74% for CCEF and 0.38% for VDIV.DE.