CHI vs. AVK
CHI (Calamos Convertible Opportunities and Income Fund) and AVK (Advent Convertible and Income Fund) are both Convertible Bonds funds. Both are actively managed. Over the past 10 years, CHI returned 12.23%/yr vs 10.05%/yr for AVK. Their 0.56 correlation means they have sometimes moved together and sometimes differently. CHI charges 0.88%/yr vs 0.75%/yr for AVK.
Performance
CHI vs. AVK - Performance Comparison
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Returns By Period
In the year-to-date period, CHI achieves a 25.35% return, which is significantly higher than AVK's 5.36% return. Over the past 10 years, CHI has outperformed AVK with an annualized return of 12.23%, while AVK has yielded a comparatively lower 10.05% annualized return.
CHI
- 1D
- 1.21%
- 1M
- -3.44%
- 6M
- 16.98%
- YTD
- 25.35%
- 1Y
- 35.42%
- 3Y*
- 14.65%
- 5Y*
- 6.12%
- 10Y*
- 12.23%
- ALL TIME*
- 9.73%
AVK
- 1D
- 0.57%
- 1M
- -3.45%
- 6M
- 3.25%
- YTD
- 5.36%
- 1Y
- 13.71%
- 3Y*
- 14.79%
- 5Y*
- 4.53%
- 10Y*
- 10.05%
- ALL TIME*
- 6.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.84M | $1.78M | $1.84M | |
| $2.29M | $2.24M | $2.26M |
CHI vs. AVK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHI Calamos Convertible Opportunities and Income Fund | 25.35% | -2.15% | 27.23% | 9.49% | -23.31% | 20.31% | 33.82% | 35.66% | -12.67% | 22.70% |
AVK Advent Convertible and Income Fund | 5.36% | 19.66% | 19.42% | 18.16% | -34.45% | 30.18% | 17.62% | 36.54% | -13.36% | 17.28% |
Correlation
The correlation between CHI and AVK is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003 | 0.56 |
Over the past year, CHI and AVK have become more correlated (0.78) than their long-term average of 0.56, meaning their price movements have been converging.
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Return for Risk
CHI vs. AVK — Risk / Return Rank
CHI
AVK
CHI vs. AVK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Opportunities and Income Fund (CHI) and Advent Convertible and Income Fund (AVK). 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.
| CHI | AVK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.15 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 0.88 | +2.37 |
| Martin ratioReturn relative to average drawdown | 11.72 | 4.02 | +7.70 |
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Drawdowns
CHI vs. AVK - Drawdown Comparison
The maximum CHI drawdown since its inception was -64.72%, roughly equal to the maximum AVK drawdown of -67.49%. Use the drawdown chart below to compare losses from any high point for CHI and AVK.
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Drawdown Indicators
| CHI | AVK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.72% | -67.49% | +2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -14.25% | +3.54% |
Max Drawdown (3Y)Largest decline over 3 years | -27.52% | -19.70% | -7.82% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -38.50% | +2.47% |
Max Drawdown (10Y)Largest decline over 10 years | -49.64% | -49.82% | +0.18% |
Current DrawdownCurrent decline from peak | -6.10% | -4.63% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -11.64% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 3.12% | -0.16% |
Volatility
CHI vs. AVK - Volatility Comparison
Calamos Convertible Opportunities and Income Fund (CHI) has a higher volatility of 6.95% compared to Advent Convertible and Income Fund (AVK) at 5.06%. This indicates that CHI's price experiences larger fluctuations and is considered to be riskier than AVK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHI | AVK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.95% | 5.06% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 13.21% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.67% | 15.11% | +3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.33% | 19.75% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.27% | 22.65% | +0.62% |
CHI vs. AVK - Expense Ratio Comparison
CHI has a 0.88% expense ratio, which is higher than AVK's 0.75% expense ratio.
Dividends
CHI vs. AVK - Dividend Comparison
CHI's dividend yield for the trailing twelve months is around 9.10%, less than AVK's 11.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVK Advent Convertible and Income Fund | 11.36% | 11.22% | 11.71% | 12.36% | 12.90% | 15.13% | 8.51% | 9.04% | 11.21% | 8.10% | 7.68% | 8.33% |
CHI Calamos Convertible Opportunities and Income Fund | 9.10% | 10.88% | 9.55% | 11.00% | 10.85% | 7.54% | 6.75% | 8.49% | 12.19% | 10.19% | 11.30% | 11.50% |
Frequently Asked Questions
CHI and AVK have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHI has higher volatility (6.95%) compared to AVK (5.06%). In terms of maximum drawdown, CHI dropped -64.72% vs AVK's -67.49%.
CHI currently has the higher Sharpe Ratio (1.86 vs 0.83), 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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