CCVIX vs. NPSRX

Last updated Jun 24, 2026

CCVIX (Calamos Convertible Fund) and NPSRX (Nuveen Preferred Securities & Income Fund) are both Preferred Stock/Convertible Bonds funds. Over the past 10 years, CCVIX returned 12.61%/yr vs 5.29%/yr for NPSRX. At a 0.35 correlation, their price movements are largely independent. CCVIX charges 1.10%/yr vs 0.74%/yr for NPSRX.

Performance

CCVIX vs. NPSRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible Fund (CCVIX) and Nuveen Preferred Securities & Income Fund (NPSRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCVIX achieves a 26.64% return, which is significantly higher than NPSRX's 0.60% return. Over the past 10 years, CCVIX has outperformed NPSRX with an annualized return of 12.61%, while NPSRX has yielded a comparatively lower 5.29% annualized return.

CCVIX

• 1D: -0.20%
• 1M: 4.95%
• YTD: 26.64%
• 6M: 24.50%
• 1Y: 43.88%
• 3Y*: 20.24%
• 5Y*: 7.84%
• 10Y*: 12.61%

NPSRX

• 1D: 0.00%
• 1M: 0.63%
• YTD: 0.60%
• 6M: 1.21%
• 1Y: 7.88%
• 3Y*: 10.19%
• 5Y*: 3.53%
• 10Y*: 5.29%

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

CCVIX vs. NPSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CCVIX Calamos Convertible Fund	26.64%	18.83%	9.71%	10.61%	-21.23%	5.13%	48.51%	19.18%	0.38%	14.04%
NPSRX Nuveen Preferred Securities & Income Fund	0.60%	11.19%	9.12%	6.19%	-9.50%	5.43%	5.53%	17.68%	-5.65%	11.27%

Correlation

The correlation between CCVIX and NPSRX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 18, 2006	0.35

Return for Risk

CCVIX vs. NPSRX — Risk / Return Rank

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

CCVIX

CCVIX Risk / Return Rank: 90
CCVIX Sharpe Ratio Rank: 92
CCVIX Sortino Ratio Rank: 83
CCVIX Omega Ratio Rank: 81
CCVIX Calmar Ratio Rank: 96
CCVIX Martin Ratio Rank: 96

NPSRX

NPSRX Risk / Return Rank: 74
NPSRX Sharpe Ratio Rank: 88
NPSRX Sortino Ratio Rank: 94
NPSRX Omega Ratio Rank: 91
NPSRX Calmar Ratio Rank: 45
NPSRX Martin Ratio Rank: 49

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.

CCVIX vs. NPSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Fund (CCVIX) and Nuveen Preferred Securities & Income Fund (NPSRX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CCVIX	NPSRX	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.68	+0.17
Sortino ratio: Return per unit of downside risk	3.64	4.54	-0.89
Omega ratio: Gain probability vs. loss probability	1.49	1.64	-0.15
Calmar ratio: Return relative to maximum drawdown	5.81	2.45	+3.36
Martin ratio: Return relative to average drawdown	21.36	9.53	+11.83

CCVIX vs. NPSRX - Sharpe Ratio Comparison

The current CCVIX Sharpe Ratio is 2.85, which is comparable to the NPSRX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of CCVIX and NPSRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CCVIX vs. NPSRX - Drawdown Comparison

The maximum CCVIX drawdown since its inception was -36.56%, smaller than the maximum NPSRX drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for CCVIX and NPSRX.

Drawdown Indicators

	CCVIX	NPSRX	Difference
Max Drawdown Largest peak-to-trough decline	-36.56%	-62.52%	+25.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-3.30%	-4.41%
Max Drawdown (3Y) Largest decline over 3 years	-14.80%	-3.60%	-11.20%
Max Drawdown (5Y) Largest decline over 5 years	-27.33%	-17.65%	-9.68%
Max Drawdown (10Y) Largest decline over 10 years	-27.33%	-26.47%	-0.86%
Current Drawdown Current decline from peak	-0.20%	-0.79%	+0.59%
Average Drawdown Average peak-to-trough decline	-5.88%	-4.81%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	0.85%	+1.24%

Volatility

CCVIX vs. NPSRX - Volatility Comparison

Calamos Convertible Fund (CCVIX) has a higher volatility of 6.25% compared to Nuveen Preferred Securities & Income Fund (NPSRX) at 0.78%. This indicates that CCVIX's price experiences larger fluctuations and is considered to be riskier than NPSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCVIX	NPSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	0.78%	+5.47%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	2.39%	+10.62%
Volatility (1Y) Calculated over the trailing 1-year period	15.76%	3.03%	+12.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.12%	5.00%	+8.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.00%	6.33%	+6.67%

CCVIX vs. NPSRX - Expense Ratio Comparison

CCVIX has a 1.10% expense ratio, which is higher than NPSRX's 0.74% expense ratio.

Dividends

CCVIX vs. NPSRX - Dividend Comparison

CCVIX's dividend yield for the trailing twelve months is around 8.00%, more than NPSRX's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCVIX Calamos Convertible Fund	8.00%	10.25%	1.31%	1.87%	0.60%	13.59%	6.56%	1.00%	14.47%	3.90%	2.84%	4.68%
NPSRX Nuveen Preferred Securities & Income Fund	5.39%	5.72%	5.38%	5.87%	6.18%	4.97%	5.02%	5.39%	6.00%	5.51%	5.81%	6.20%

Frequently Asked Questions

Can I hold both CCVIX and NPSRX in my portfolio?

CCVIX and NPSRX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CCVIX or NPSRX?

CCVIX has higher volatility (6.25%) compared to NPSRX (0.78%). In terms of maximum drawdown, CCVIX dropped -36.56% vs NPSRX's -62.52%.

Which has better risk-adjusted returns?

CCVIX currently has the higher Sharpe Ratio (2.85 vs 2.68), 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.