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CHY vs. BINC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CHY vs. BINC

Last updated Jun 23, 2026

CHY (Calamos Convertible and High Income Closed Fund) and BINC (iShares Flexible Income Active ETF) are both funds - CHY is a Convertible Bonds fund actively managed by Calamos, while BINC is a Multisector Bonds fund actively managed by iShares. Both are actively managed. Over the past 3 years, CHY returned 19.46%/yr vs 7.10%/yr for BINC. At a 0.41 correlation, their price movements are largely independent. CHY charges 2.64%/yr vs 0.40%/yr for BINC.

Performance

CHY vs. BINC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible and High Income Closed Fund (CHY) and iShares Flexible Income Active ETF (BINC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CHY achieves a 23.99% return, which is significantly higher than BINC's 1.23% return.

CHY

1D
-0.07%
1M
5.00%
YTD
23.99%
6M
20.90%
1Y
41.83%
3Y*
19.46%
5Y*
6.53%
10Y*
13.19%

BINC

1D
-0.02%
1M
0.63%
YTD
1.23%
6M
1.46%
1Y
5.64%
3Y*
7.10%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CHY vs. BINC - Yearly Performance Comparison

2026 (YTD)202520242023
CHY
Calamos Convertible and High Income Closed Fund		23.99%3.97%17.24%18.09%
BINC
iShares Flexible Income Active ETF		1.23%7.57%5.76%7.12%

Correlation

The correlation between CHY and BINC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (All Time)
Calculated using the full available price history since May 23, 2023

0.41

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Calamos Convertible and High Income Closed Fund

iShares Flexible Income Active ETF

Often compared with CHY:
CHY vs. CHICHY vs. CCVIXCHY vs. CHYDXCHY vs. SMHCHY vs. ADXCHY vs. ISPYCHY vs. VOO
Often compared with BINC:
BINC vs. JPIEBINC vs. PYLDBINC vs. BNDBINC vs. JAAABINC vs. JEPIBINC vs. PONAXBINC vs. AGG

Return for Risk

CHY vs. BINC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CHY
CHY Risk / Return Rank: 8383
Overall Rank
CHY Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
CHY Sortino Ratio Rank: 7777
Sortino Ratio Rank
CHY Omega Ratio Rank: 7979
Omega Ratio Rank
CHY Calmar Ratio Rank: 8383
Calmar Ratio Rank
CHY Martin Ratio Rank: 9393
Martin Ratio Rank
BINC
BINC Risk / Return Rank: 6868
Overall Rank
BINC Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
BINC Sortino Ratio Rank: 8484
Sortino Ratio Rank
BINC Omega Ratio Rank: 8585
Omega Ratio Rank
BINC Calmar Ratio Rank: 4343
Calmar Ratio Rank
BINC Martin Ratio Rank: 5050
Martin Ratio Rank
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.

CHY vs. BINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible and High Income Closed Fund (CHY) and iShares Flexible Income Active ETF (BINC). 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.

CHYBINCDifference
Sharpe ratioReturn per unit of total volatility
2.57
2.46

+0.11

Sortino ratioReturn per unit of downside risk
3.35
3.59

-0.24

Omega ratioGain probability vs. loss probability

1.47

1.49

-0.02

Calmar ratioReturn relative to maximum drawdown

3.68

2.11

+1.58

Martin ratioReturn relative to average drawdown

17.99

8.22

+9.77

CHY vs. BINC - Sharpe Ratio Comparison

The current CHY Sharpe Ratio is 2.57, which is comparable to the BINC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of CHY and BINC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CHY vs. BINC - Drawdown Comparison

The maximum CHY drawdown since its inception was -60.53%, which is greater than BINC's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for CHY and BINC.

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Drawdown Indicators

CHYBINCDifference

Max Drawdown

Largest peak-to-trough decline

-60.53%

-2.69%

-57.84%

Max Drawdown (1Y)

Largest decline over 1 year

-11.42%

-2.69%

-8.73%

Max Drawdown (3Y)

Largest decline over 3 years

-24.32%

-2.69%

-21.63%

Max Drawdown (5Y)

Largest decline over 5 years

-35.99%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-50.41%

—

—

Current Drawdown

Current decline from peak

-0.07%

-0.16%

+0.09%

Average Drawdown

Average peak-to-trough decline

-9.09%

-0.36%

-8.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

0.69%

+1.64%

Volatility

CHY vs. BINC - Volatility Comparison

Calamos Convertible and High Income Closed Fund (CHY) has a higher volatility of 6.05% compared to iShares Flexible Income Active ETF (BINC) at 0.60%. This indicates that CHY's price experiences larger fluctuations and is considered to be riskier than BINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CHYBINCDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.05%

0.60%

+5.45%

Volatility (6M)

Calculated over the trailing 6-month period

14.09%

1.88%

+12.21%

Volatility (1Y)

Calculated over the trailing 1-year period

16.36%

2.30%

+14.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.43%

2.99%

+16.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.31%

2.99%

+20.32%

CHY vs. BINC - Expense Ratio Comparison

CHY has a 2.64% expense ratio, which is higher than BINC's 0.40% expense ratio.

Dividends

CHY vs. BINC - Dividend Comparison

CHY's dividend yield for the trailing twelve months is around 8.92%, more than BINC's 5.85% yield.

PositionTTM20252024202320222021202020192018201720162015
BINC
iShares Flexible Income Active ETF		5.85%5.86%6.14%3.13%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
CHY
Calamos Convertible and High Income Closed Fund		8.92%10.61%9.88%10.46%11.37%7.42%7.14%8.72%12.13%10.13%11.37%11.42%

Frequently Asked Questions

CHY and BINC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CHY has higher volatility (6.05%) compared to BINC (0.60%). In terms of maximum drawdown, CHY dropped -60.53% vs BINC's -2.69%.

CHY currently has the higher Sharpe Ratio (2.57 vs 2.46), 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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