CHI vs. BDJ
CHI (Calamos Convertible Opportunities and Income Fund) and BDJ (BlackRock Enhanced Equity Dividend Fund) are both mutual funds - CHI is a Convertible Bonds fund actively managed by Calamos, while BDJ is a Derivative Income fund managed by BlackRock. Over the past 10 years, CHI returned 13.49%/yr vs 10.51%/yr for BDJ. At a 0.46 correlation, their price movements are largely independent. CHI charges 0.88%/yr vs 0.86%/yr for BDJ.
Performance
CHI vs. BDJ - Performance Comparison
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Returns By Period
In the year-to-date period, CHI achieves a 29.12% return, which is significantly higher than BDJ's 1.80% return. Over the past 10 years, CHI has outperformed BDJ with an annualized return of 13.49%, while BDJ has yielded a comparatively lower 10.51% annualized return.
CHI
- 1D
- -1.37%
- 1M
- 5.21%
- YTD
- 29.12%
- 6M
- 25.13%
- 1Y
- 42.44%
- 3Y*
- 17.77%
- 5Y*
- 7.12%
- 10Y*
- 13.49%
BDJ
- 1D
- -0.43%
- 1M
- 1.65%
- YTD
- 1.80%
- 6M
- 3.32%
- 1Y
- 18.77%
- 3Y*
- 14.29%
- 5Y*
- 7.74%
- 10Y*
- 10.51%
CHI vs. BDJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHI Calamos Convertible Opportunities and Income Fund | 29.12% | -2.15% | 27.23% | 9.49% | -23.31% | 20.31% | 33.82% | 35.66% | -12.67% | 22.70% |
BDJ BlackRock Enhanced Equity Dividend Fund | 1.80% | 26.12% | 16.87% | -6.67% | 0.83% | 26.56% | -7.58% | 37.43% | -10.42% | 20.78% |
Correlation
The correlation between CHI and BDJ is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2005 | 0.46 |
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Return for Risk
CHI vs. BDJ — Risk / Return Rank
CHI
BDJ
CHI vs. BDJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Opportunities and Income Fund (CHI) and BlackRock Enhanced Equity Dividend Fund (BDJ). 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 | BDJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.27 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 1.54 | +2.45 |
| Martin ratioReturn relative to average drawdown | 15.67 | 5.59 | +10.08 |
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Drawdowns
CHI vs. BDJ - Drawdown Comparison
The maximum CHI drawdown since its inception was -64.72%, which is greater than BDJ's maximum drawdown of -59.46%. Use the drawdown chart below to compare losses from any high point for CHI and BDJ.
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Drawdown Indicators
| CHI | BDJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.72% | -59.46% | -5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -12.28% | +1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -27.52% | -15.70% | -11.82% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -21.39% | -14.64% |
Max Drawdown (10Y)Largest decline over 10 years | -49.64% | -48.14% | -1.50% |
Current DrawdownCurrent decline from peak | -1.74% | -1.80% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -8.94% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 3.37% | -0.65% |
Volatility
CHI vs. BDJ - Volatility Comparison
Calamos Convertible Opportunities and Income Fund (CHI) has a higher volatility of 5.49% compared to BlackRock Enhanced Equity Dividend Fund (BDJ) at 3.45%. This indicates that CHI's price experiences larger fluctuations and is considered to be riskier than BDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHI | BDJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 3.45% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 9.49% | +4.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.22% | 12.18% | +5.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.15% | 16.11% | +4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.22% | 18.41% | +4.81% |
CHI vs. BDJ - Expense Ratio Comparison
CHI has a 0.88% expense ratio, which is higher than BDJ's 0.86% expense ratio.
Dividends
CHI vs. BDJ - Dividend Comparison
CHI's dividend yield for the trailing twelve months is around 8.77%, less than BDJ's 9.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDJ BlackRock Enhanced Equity Dividend Fund | 9.23% | 9.03% | 8.21% | 9.49% | 12.18% | 5.95% | 7.08% | 6.66% | 7.21% | 6.07% | 6.88% | 7.36% |
CHI Calamos Convertible Opportunities and Income Fund | 8.77% | 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 BDJ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHI has higher volatility (5.49%) compared to BDJ (3.45%). In terms of maximum drawdown, CHI dropped -64.72% vs BDJ's -59.46%.
CHI currently has the higher Sharpe Ratio (2.48 vs 1.55), 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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