CHI vs. NXG

Last updated Jul 11, 2026

CHI (Calamos Convertible Opportunities and Income Fund) and NXG (NXG NextGen Infrastructure Income Fund) are both mutual funds - CHI is a Convertible Bonds fund actively managed by Calamos, while NXG is a Global Equity Income fund actively managed by NXG. Both are actively managed. Over the past 3 years, CHI returned 18.62%/yr vs 36.00%/yr for NXG. At a 0.31 correlation, their price movements are largely independent. CHI charges 0.88%/yr vs 1.00%/yr for NXG.

Performance

CHI vs. NXG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible Opportunities and Income Fund (CHI) and NXG NextGen Infrastructure Income Fund (NXG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CHI having a 33.39% return and NXG slightly lower at 32.49%.

CHI

• 1D: 0.60%
• 1M: 6.67%
• 6M: 26.16%
• YTD: 33.39%
• 1Y: 41.95%
• 3Y*: 18.62%
• 5Y*: 7.34%
• 10Y*: 13.03%

NXG

• 1D: 0.05%
• 1M: 10.72%
• 6M: 31.94%
• YTD: 32.49%
• 1Y: 44.66%
• 3Y*: 36.00%
• 5Y*: —
• 10Y*: —

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

CHI vs. NXG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CHI Calamos Convertible Opportunities and Income Fund	33.39%	-2.15%	27.23%	9.49%	0.07%
NXG NXG NextGen Infrastructure Income Fund	32.49%	25.98%	51.16%	4.54%	-4.87%

Correlation

The correlation between CHI and NXG is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 1, 2022	0.31

The correlation between CHI and NXG shifts across timeframes, from 0.26 (3 years) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CHI vs. NXG — Risk / Return Rank

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

CHI

CHI Risk / Return Rank: 87
CHI Sharpe Ratio Rank: 88
CHI Sortino Ratio Rank: 83
CHI Omega Ratio Rank: 81
CHI Calmar Ratio Rank: 91
CHI Martin Ratio Rank: 93

NXG

NXG Risk / Return Rank: 75
NXG Sharpe Ratio Rank: 81
NXG Sortino Ratio Rank: 76
NXG Omega Ratio Rank: 76
NXG Calmar Ratio Rank: 86
NXG Martin Ratio Rank: 56

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.

CHI vs. NXG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Opportunities and Income Fund (CHI) and NXG NextGen Infrastructure Income Fund (NXG). 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	NXG	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.08	+0.25
Sortino ratio: Return per unit of downside risk	3.16	2.81	+0.35
Omega ratio: Gain probability vs. loss probability	1.41	1.38	+0.03
Calmar ratio: Return relative to maximum drawdown	3.84	3.26	+0.58
Martin ratio: Return relative to average drawdown	14.95	8.87	+6.08

CHI vs. NXG - Sharpe Ratio Comparison

The current CHI Sharpe Ratio is 2.33, which is comparable to the NXG Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of CHI and NXG, 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

CHI vs. NXG - Drawdown Comparison

The maximum CHI drawdown since its inception was -64.72%, which is greater than NXG's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for CHI and NXG.

Drawdown Indicators

	CHI	NXG	Difference
Max Drawdown Largest peak-to-trough decline	-64.72%	-26.14%	-38.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-13.19%	+2.48%
Max Drawdown (3Y) Largest decline over 3 years	-27.52%	-26.14%	-1.38%
Max Drawdown (5Y) Largest decline over 5 years	-36.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.64%	—	—
Current Drawdown Current decline from peak	-0.07%	-2.63%	+2.56%
Average Drawdown Average peak-to-trough decline	-9.63%	-6.47%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	4.84%	-2.10%

Volatility

CHI vs. NXG - Volatility Comparison

The current volatility for Calamos Convertible Opportunities and Income Fund (CHI) is 5.62%, while NXG NextGen Infrastructure Income Fund (NXG) has a volatility of 7.72%. This indicates that CHI experiences smaller price fluctuations and is considered to be less risky than NXG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHI	NXG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	7.72%	-2.10%
Volatility (6M) Calculated over the trailing 6-month period	14.06%	15.53%	-1.47%
Volatility (1Y) Calculated over the trailing 1-year period	17.59%	20.62%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.21%	26.87%	-6.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	26.87%	-3.67%

CHI vs. NXG - Expense Ratio Comparison

CHI has a 0.88% expense ratio, which is lower than NXG's 1.00% expense ratio.

Dividends

CHI vs. NXG - Dividend Comparison

CHI's dividend yield for the trailing twelve months is around 8.49%, less than NXG's 9.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHI Calamos Convertible Opportunities and Income Fund	8.49%	10.88%	9.55%	11.00%	10.85%	7.54%	6.75%	8.49%	12.19%	10.19%	11.30%	11.50%
NXG NXG NextGen Infrastructure Income Fund	9.52%	12.83%	14.15%	12.00%	1.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHI and NXG in my portfolio?

CHI and NXG have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHI or NXG?

NXG has higher volatility (7.72%) compared to CHI (5.62%). In terms of maximum drawdown, CHI dropped -64.72% vs NXG's -26.14%.

Which has better risk-adjusted returns?

CHI currently has the higher Sharpe Ratio (2.33 vs 2.08), 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.