CCVIX vs. PISHX
CCVIX (Calamos Convertible Fund) and PISHX (Cohen & Steers Preferred Securities and Income SMA Shares) are both mutual funds - CCVIX is a Convertible Bonds fund managed by Calamos, while PISHX is a Preferred Stock fund managed by Cohen & Steers. Over the past 5 years, CCVIX returned 6.25%/yr vs 3.83%/yr for PISHX. Their 0.39 correlation means their historical movements had little consistent relationship. CCVIX charges 1.10%/yr vs 0.00%/yr for PISHX.
Performance
CCVIX vs. PISHX - Performance Comparison
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Returns By Period
In the year-to-date period, CCVIX achieves a 17.57% return, which is significantly higher than PISHX's 2.24% return.
CCVIX
- 1D
- 3.17%
- 1M
- -3.18%
- 6M
- 11.31%
- YTD
- 17.57%
- 1Y
- 29.27%
- 3Y*
- 15.47%
- 5Y*
- 6.25%
- 10Y*
- 11.20%
- ALL TIME*
- 8.74%
PISHX
- 1D
- 0.00%
- 1M
- -0.57%
- 6M
- 1.55%
- YTD
- 2.24%
- 1Y
- 5.97%
- 3Y*
- 10.31%
- 5Y*
- 3.83%
- 10Y*
- —
- ALL TIME*
- 5.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CCVIX vs. PISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CCVIX Calamos Convertible Fund | 17.57% | 18.83% | 9.71% | 10.61% | -21.23% | 5.13% | 48.51% | 9.18% |
PISHX Cohen & Steers Preferred Securities and Income SMA Shares | 2.24% | 9.65% | 12.50% | 7.91% | -11.73% | 4.30% | 8.57% | 12.46% |
Correlation
The correlation between CCVIX and PISHX is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019 | 0.39 |
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Return for Risk
CCVIX vs. PISHX — Risk / Return Rank
CCVIX
PISHX
CCVIX vs. PISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Fund (CCVIX) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX). 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 | PISHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.58 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 2.17 | +0.52 |
| Martin ratioReturn relative to average drawdown | 10.12 | 9.74 | +0.38 |
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Drawdowns
CCVIX vs. PISHX - Drawdown Comparison
The maximum CCVIX drawdown since its inception was -36.56%, which is greater than PISHX's maximum drawdown of -27.12%. Use the drawdown chart below to compare losses from any high point for CCVIX and PISHX.
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Drawdown Indicators
| CCVIX | PISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.56% | -27.12% | -9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -2.83% | -7.36% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -3.90% | -10.90% |
Max Drawdown (5Y)Largest decline over 5 years | -27.33% | -19.14% | -8.19% |
Max Drawdown (10Y)Largest decline over 10 years | -27.33% | — | — |
Current DrawdownCurrent decline from peak | -7.35% | -0.67% | -6.68% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -3.86% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 0.63% | +2.08% |
Volatility
CCVIX vs. PISHX - Volatility Comparison
Calamos Convertible Fund (CCVIX) has a higher volatility of 6.18% compared to Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) at 0.50%. This indicates that CCVIX's price experiences larger fluctuations and is considered to be riskier than PISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCVIX | PISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 0.50% | +5.68% |
Volatility (6M)Calculated over the trailing 6-month period | 14.11% | 2.08% | +12.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 2.43% | +14.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 4.57% | +8.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.12% | 7.28% | +5.84% |
CCVIX vs. PISHX - Expense Ratio Comparison
CCVIX has a 1.10% expense ratio, which is higher than PISHX's 0.00% expense ratio.
Dividends
CCVIX vs. PISHX - Dividend Comparison
CCVIX's dividend yield for the trailing twelve months is around 8.61%, more than PISHX's 5.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCVIX Calamos Convertible Fund | 8.61% | 10.25% | 1.31% | 1.87% | 0.60% | 13.59% | 6.56% | 1.00% | 14.47% | 3.90% | 2.84% | 4.68% |
PISHX Cohen & Steers Preferred Securities and Income SMA Shares | 5.15% | 5.52% | 5.89% | 5.92% | 5.45% | 4.25% | 4.59% | 3.38% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CCVIX and PISHX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCVIX has higher volatility (6.18%) compared to PISHX (0.50%). In terms of maximum drawdown, CCVIX dropped -36.56% vs PISHX's -27.12%.
PISHX currently has the higher Sharpe Ratio (2.53 vs 1.61), 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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