CHW vs. PALAX
CHW (Calamos Global Dynamic Income Fund) and PALAX (Virtus Global Allocation Fund) are both Global Allocation funds. Over the past 10 years, CHW returned 11.54%/yr vs 7.27%/yr for PALAX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. CHW charges 2.63%/yr vs 0.52%/yr for PALAX.
Performance
CHW vs. PALAX - 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 PALAX's 8.37% return. Over the past 10 years, CHW has outperformed PALAX with an annualized return of 11.54%, while PALAX has yielded a comparatively lower 7.27% 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%
PALAX
- 1D
- 1.27%
- 1M
- 0.31%
- 6M
- 5.36%
- YTD
- 8.37%
- 1Y
- 18.01%
- 3Y*
- 11.02%
- 5Y*
- 5.55%
- 10Y*
- 7.27%
- ALL TIME*
- 5.95%
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. PALAX - 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% |
PALAX Virtus Global Allocation Fund | 8.37% | 17.73% | 6.39% | 11.78% | -15.69% | 10.82% | 13.99% | 17.93% | -8.72% | 16.92% |
Correlation
The correlation between CHW and PALAX is 0.70, 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. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007 | 0.68 |
The correlation between CHW and PALAX has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.
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Return for Risk
CHW vs. PALAX — Risk / Return Rank
CHW
PALAX
CHW vs. PALAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Global Dynamic Income Fund (CHW) and Virtus Global Allocation Fund (PALAX). 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 | PALAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.34 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 2.50 | -0.89 |
| Martin ratioReturn relative to average drawdown | 5.65 | 10.18 | -4.54 |
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Drawdowns
CHW vs. PALAX - Drawdown Comparison
The maximum CHW drawdown since its inception was -66.94%, which is greater than PALAX's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for CHW and PALAX.
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Drawdown Indicators
| CHW | PALAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.94% | -44.59% | -22.35% |
Max Drawdown (1Y)Largest decline over 1 year | -15.51% | -6.93% | -8.58% |
Max Drawdown (3Y)Largest decline over 3 years | -20.40% | -11.92% | -8.48% |
Max Drawdown (5Y)Largest decline over 5 years | -45.77% | -27.75% | -18.02% |
Max Drawdown (10Y)Largest decline over 10 years | -53.58% | -27.75% | -25.83% |
Current DrawdownCurrent decline from peak | -8.14% | -1.18% | -6.96% |
Average DrawdownAverage peak-to-trough decline | -14.79% | -6.67% | -8.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 1.70% | +2.73% |
Volatility
CHW vs. PALAX - Volatility Comparison
Calamos Global Dynamic Income Fund (CHW) has a higher volatility of 5.13% compared to Virtus Global Allocation Fund (PALAX) at 2.78%. This indicates that CHW's price experiences larger fluctuations and is considered to be riskier than PALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHW | PALAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 2.78% | +2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 15.11% | 7.73% | +7.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.41% | 9.31% | +8.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.17% | 11.95% | +7.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.32% | 11.36% | +10.96% |
CHW vs. PALAX - Expense Ratio Comparison
CHW has a 2.63% expense ratio, which is higher than PALAX's 0.52% expense ratio.
Dividends
CHW vs. PALAX - Dividend Comparison
CHW's dividend yield for the trailing twelve months is around 7.35%, less than PALAX's 9.28% 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% |
PALAX Virtus Global Allocation Fund | 9.28% | 6.94% | 3.07% | 2.60% | 6.29% | 9.15% | 6.14% | 10.09% | 6.19% | 10.69% | 1.61% | 5.30% |
Frequently Asked Questions
CHW and PALAX have a correlation of 0.70, 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 PALAX (2.78%). In terms of maximum drawdown, CHW dropped -66.94% vs PALAX's -44.59%.
PALAX currently has the higher Sharpe Ratio (1.86 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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