CHI vs. LOCFX
CHI (Calamos Convertible Opportunities and Income Fund) and LOCFX (Lord Abbett Convertible Fund Class F3) are both Convertible Bonds funds. CHI is actively managed, while LOCFX is passively managed. Over the past 5 years, CHI returned 6.12%/yr vs 5.31%/yr for LOCFX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. CHI charges 0.88%/yr vs 0.82%/yr for LOCFX.
Performance
CHI vs. LOCFX - 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 LOCFX's 12.04% 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%
LOCFX
- 1D
- 2.95%
- 1M
- -3.66%
- 6M
- 5.82%
- YTD
- 12.04%
- 1Y
- 23.43%
- 3Y*
- 16.89%
- 5Y*
- 5.31%
- 10Y*
- —
- ALL TIME*
- 11.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.29M | $2.24M | $2.26M | |
| $0.00 | $0.00 | $0.00 |
CHI vs. LOCFX - 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% | 9.61% |
LOCFX Lord Abbett Convertible Fund Class F3 | 12.04% | 22.43% | 14.00% | 7.30% | -23.12% | 1.40% | 64.47% | 25.07% | -6.42% | 10.04% |
Correlation
The correlation between CHI and LOCFX is 0.76, 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. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017 | 0.60 |
The correlation between CHI and LOCFX shifts across timeframes, from 0.60 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CHI vs. LOCFX — Risk / Return Rank
CHI
LOCFX
CHI vs. LOCFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Opportunities and Income Fund (CHI) and Lord Abbett Convertible Fund Class F3 (LOCFX). 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 | LOCFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.23 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 2.00 | +1.25 |
| Martin ratioReturn relative to average drawdown | 11.72 | 7.73 | +3.99 |
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Drawdowns
CHI vs. LOCFX - Drawdown Comparison
The maximum CHI drawdown since its inception was -64.72%, which is greater than LOCFX's maximum drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for CHI and LOCFX.
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Drawdown Indicators
| CHI | LOCFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.72% | -33.29% | -31.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -11.13% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -27.52% | -12.09% | -15.43% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -30.60% | -5.43% |
Max Drawdown (10Y)Largest decline over 10 years | -49.64% | — | — |
Current DrawdownCurrent decline from peak | -6.10% | -8.50% | +2.40% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -11.10% | +1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 2.88% | +0.08% |
Volatility
CHI vs. LOCFX - Volatility Comparison
Calamos Convertible Opportunities and Income Fund (CHI) has a higher volatility of 6.95% compared to Lord Abbett Convertible Fund Class F3 (LOCFX) at 5.76%. This indicates that CHI's price experiences larger fluctuations and is considered to be riskier than LOCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHI | LOCFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.95% | 5.76% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 13.79% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.67% | 16.80% | +1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.33% | 13.41% | +6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.27% | 14.16% | +9.11% |
CHI vs. LOCFX - Expense Ratio Comparison
CHI has a 0.88% expense ratio, which is higher than LOCFX's 0.82% expense ratio.
Dividends
CHI vs. LOCFX - Dividend Comparison
CHI's dividend yield for the trailing twelve months is around 9.10%, more than LOCFX's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LOCFX Lord Abbett Convertible Fund Class F3 | 1.39% | 1.86% | 2.29% | 2.06% | 2.72% | 18.36% | 16.20% | 8.75% | 5.02% | 2.08% | 0.00% | 0.00% |
Frequently Asked Questions
CHI and LOCFX have a correlation of 0.76, 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 LOCFX (5.76%). In terms of maximum drawdown, CHI dropped -64.72% vs LOCFX's -33.29%.
CHI currently has the higher Sharpe Ratio (1.86 vs 1.33), 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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