CHW vs. GBATX
CHW (Calamos Global Dynamic Income Fund) and GBATX (GMO Strategic Opportunities Allocation Fund) are both Global Allocation funds. Over the past 10 years, CHW returned 11.54%/yr vs 9.12%/yr for GBATX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. CHW charges 2.63%/yr vs 0.32%/yr for GBATX.
Performance
CHW vs. GBATX - Performance Comparison
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Returns By Period
In the year-to-date period, CHW achieves a 16.29% return, which is significantly higher than GBATX's 13.89% return. Over the past 10 years, CHW has outperformed GBATX with an annualized return of 11.54%, while GBATX has yielded a comparatively lower 9.12% annualized return.
CHW
- 1D
- 1.34%
- 1M
- -4.60%
- 6M
- 7.58%
- YTD
- 16.29%
- 1Y
- 26.53%
- 3Y*
- 20.54%
- 5Y*
- 3.45%
- 10Y*
- 11.54%
- ALL TIME*
- 6.89%
GBATX
- 1D
- 1.18%
- 1M
- 1.98%
- 6M
- 8.92%
- YTD
- 13.89%
- 1Y
- 27.90%
- 3Y*
- 16.49%
- 5Y*
- 9.69%
- 10Y*
- 9.12%
- ALL TIME*
- 7.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39M | $2.48M | $2.03M | |
| $0.00 | $0.00 | $0.00 |
CHW vs. GBATX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHW Calamos Global Dynamic Income Fund | 16.29% | 19.55% | 27.82% | 14.55% | -37.74% | 13.07% | 22.28% | 47.12% | -20.33% | 43.78% |
GBATX GMO Strategic Opportunities Allocation Fund | 13.89% | 24.71% | 5.50% | 17.36% | -11.27% | 12.12% | 4.83% | 19.59% | -9.41% | 19.30% |
Correlation
The correlation between CHW and GBATX is 0.62, 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. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007 | 0.64 |
The correlation between CHW and GBATX has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
CHW vs. GBATX — Risk / Return Rank
CHW
GBATX
CHW vs. GBATX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Global Dynamic Income Fund (CHW) and GMO Strategic Opportunities Allocation Fund (GBATX). 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.
| CHW | GBATX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.53 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 3.86 | -2.24 |
| Martin ratioReturn relative to average drawdown | 5.65 | 14.44 | -8.79 |
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Drawdowns
CHW vs. GBATX - Drawdown Comparison
The maximum CHW drawdown since its inception was -66.94%, which is greater than GBATX's maximum drawdown of -35.37%. Use the drawdown chart below to compare losses from any high point for CHW and GBATX.
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Drawdown Indicators
| CHW | GBATX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.94% | -35.37% | -31.57% |
Max Drawdown (1Y)Largest decline over 1 year | -15.51% | -7.06% | -8.45% |
Max Drawdown (3Y)Largest decline over 3 years | -20.40% | -9.98% | -10.42% |
Max Drawdown (5Y)Largest decline over 5 years | -45.77% | -22.58% | -23.19% |
Max Drawdown (10Y)Largest decline over 10 years | -53.58% | -29.68% | -23.90% |
Current DrawdownCurrent decline from peak | -8.14% | 0.00% | -8.14% |
Average DrawdownAverage peak-to-trough decline | -14.79% | -5.54% | -9.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 1.88% | +2.55% |
Volatility
CHW vs. GBATX - Volatility Comparison
Calamos Global Dynamic Income Fund (CHW) has a higher volatility of 5.13% compared to GMO Strategic Opportunities Allocation Fund (GBATX) at 2.55%. This indicates that CHW's price experiences larger fluctuations and is considered to be riskier than GBATX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHW | GBATX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 2.55% | +2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 15.11% | 7.83% | +7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.41% | 9.68% | +7.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.17% | 11.07% | +8.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.32% | 12.01% | +10.31% |
CHW vs. GBATX - Expense Ratio Comparison
CHW has a 2.63% expense ratio, which is higher than GBATX's 0.32% expense ratio.
Dividends
CHW vs. GBATX - Dividend Comparison
CHW's dividend yield for the trailing twelve months is around 7.35%, less than GBATX's 15.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHW Calamos Global Dynamic Income Fund | 7.35% | 8.10% | 8.89% | 10.40% | 13.62% | 8.43% | 8.79% | 9.67% | 12.82% | 9.25% | 12.05% | 11.73% |
GBATX GMO Strategic Opportunities Allocation Fund | 15.39% | 13.65% | 5.97% | 6.04% | 10.08% | 24.22% | 4.29% | 5.17% | 9.77% | 2.98% | 2.84% | 9.67% |
Frequently Asked Questions
CHW and GBATX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHW has higher volatility (5.13%) compared to GBATX (2.55%). In terms of maximum drawdown, CHW dropped -66.94% vs GBATX's -35.37%.
GBATX currently has the higher Sharpe Ratio (2.82 vs 1.44), 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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