CHY vs. BINC

Last updated Apr 1, 2026

Compare and contrast key facts about Calamos Convertible and High Income Closed Fund (CHY) and iShares Flexible Income Active ETF (BINC).

CHY is an actively managed fund by Calamos. It was launched on May 28, 2003. BINC is an actively managed fund by iShares. It was launched on May 19, 2023.

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.

CHY vs. BINC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CHY Calamos Convertible and High Income Closed Fund	-2.05%	3.97%	17.24%	18.89%
BINC iShares Flexible Income Active ETF	-0.78%	7.57%	5.76%	7.08%

Returns By Period

In the year-to-date period, CHY achieves a -2.05% return, which is significantly lower than BINC's -0.78% return.

CHY

• 1D: 2.83%
• 1M: -8.38%
• YTD: -2.05%
• 6M: 2.23%
• 1Y: 20.16%
• 3Y*: 11.08%
• 5Y*: 3.48%
• 10Y*: 10.86%

BINC

• 1D: 0.33%
• 1M: -2.11%
• YTD: -0.78%
• 6M: 0.65%
• 1Y: 5.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CHY vs. BINC - Expense Ratio Comparison

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

CHY

Calamos Convertible and High Income Closed Fund

BINC

iShares Flexible Income Active ETF

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: 69
CHY Sharpe Ratio Rank: 67
CHY Sortino Ratio Rank: 67
CHY Omega Ratio Rank: 63
CHY Calmar Ratio Rank: 71
CHY Martin Ratio Rank: 80

BINC

BINC Risk / Return Rank: 84
BINC Sharpe Ratio Rank: 87
BINC Sortino Ratio Rank: 87
BINC Omega Ratio Rank: 91
BINC Calmar Ratio Rank: 76
BINC Martin Ratio Rank: 79

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.

	CHY	BINC	Difference
Sharpe ratio Return per unit of total volatility	1.18	1.74	-0.56
Sortino ratio Return per unit of downside risk	1.67	2.29	-0.61
Omega ratio Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio Return relative to maximum drawdown	1.62	1.91	-0.29
Martin ratio Return relative to average drawdown	7.75	7.93	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHY vs. BINC - Sharpe Ratio Comparison

The current CHY Sharpe Ratio is 1.18, which is lower than the BINC Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of CHY and BINC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CHY	BINC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.74	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	2.28	-1.92

Correlation

The correlation between CHY and BINC is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CHY vs. BINC - Dividend Comparison

CHY's dividend yield for the trailing twelve months is around 11.02%, more than BINC's 5.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHY Calamos Convertible and High Income Closed Fund	11.02%	10.61%	9.88%	10.46%	11.37%	7.42%	7.14%	8.72%	12.13%	10.13%	11.37%	11.42%
BINC iShares Flexible Income Active ETF	5.91%	5.86%	6.14%	3.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	CHY	BINC	Difference
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 (5Y) Largest decline over 5 years	-35.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.41%	—	—
Current Drawdown Current decline from peak	-8.91%	-2.14%	-6.77%
Average Drawdown Average peak-to-trough decline	-9.16%	-0.33%	-8.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	0.65%	+1.74%

Volatility

CHY vs. BINC - Volatility Comparison

Calamos Convertible and High Income Closed Fund (CHY) has a higher volatility of 7.72% compared to iShares Flexible Income Active ETF (BINC) at 1.25%. 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.

Volatility by Period

	CHY	BINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.72%	1.25%	+6.47%
Volatility (6M) Calculated over the trailing 6-month period	11.93%	1.69%	+10.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	2.94%	+14.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	3.03%	+16.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.13%	3.03%	+20.10%