CICVX vs. CXGCX
CICVX (Calamos Convertible Fund) and CXGCX (Calamos Global Convertible Fund) are both Convertible Bonds funds from Calamos. Over the past 10 years, CICVX returned 11.54%/yr vs 9.01%/yr for CXGCX. Their correlation of 0.92 means they have usually moved in the same direction. CICVX charges 0.85%/yr vs 1.03%/yr for CXGCX.
Performance
CICVX vs. CXGCX - Performance Comparison
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Returns By Period
In the year-to-date period, CICVX achieves a 17.82% return, which is significantly higher than CXGCX's 14.32% return. Over the past 10 years, CICVX has outperformed CXGCX with an annualized return of 11.54%, while CXGCX has yielded a comparatively lower 9.01% annualized return.
CICVX
- 1D
- 0.09%
- 1M
- -3.10%
- 6M
- 11.13%
- YTD
- 17.82%
- 1Y
- 29.67%
- 3Y*
- 15.94%
- 5Y*
- 6.51%
- 10Y*
- 11.54%
- ALL TIME*
- 4.28%
CXGCX
- 1D
- 0.19%
- 1M
- 0.06%
- 6M
- 11.17%
- YTD
- 14.32%
- 1Y
- 23.49%
- 3Y*
- 15.12%
- 5Y*
- 5.34%
- 10Y*
- 9.01%
- ALL TIME*
- 7.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CICVX vs. CXGCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CICVX Calamos Convertible Fund | 17.82% | 19.03% | 9.94% | 10.95% | -21.02% | 5.36% | 48.84% | 19.51% | 0.59% | 14.21% |
CXGCX Calamos Global Convertible Fund | 14.32% | 18.49% | 10.98% | 13.48% | -22.06% | -0.31% | 38.60% | 15.18% | -2.76% | 14.25% |
Correlation
The correlation between CICVX and CXGCX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.92 |
The correlation between CICVX and CXGCX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
CICVX vs. CXGCX — Risk / Return Rank
CICVX
CXGCX
CICVX vs. CXGCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Fund (CICVX) and Calamos Global Convertible Fund (CXGCX). 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.
| CICVX | CXGCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 3.98 | -1.21 |
| Martin ratioReturn relative to average drawdown | 10.28 | 11.33 | -1.05 |
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Drawdowns
CICVX vs. CXGCX - Drawdown Comparison
The maximum CICVX drawdown since its inception was -49.33%, which is greater than CXGCX's maximum drawdown of -30.74%. Use the drawdown chart below to compare losses from any high point for CICVX and CXGCX.
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Drawdown Indicators
| CICVX | CXGCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -30.74% | -18.59% |
Max Drawdown (1Y)Largest decline over 1 year | -10.15% | -5.75% | -4.40% |
Max Drawdown (3Y)Largest decline over 3 years | -14.79% | -8.92% | -5.87% |
Max Drawdown (5Y)Largest decline over 5 years | -27.17% | -28.88% | +1.71% |
Max Drawdown (10Y)Largest decline over 10 years | -27.17% | -30.74% | +3.57% |
Current DrawdownCurrent decline from peak | -7.23% | -2.65% | -4.58% |
Average DrawdownAverage peak-to-trough decline | -17.40% | -7.19% | -10.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.01% | +0.72% |
Volatility
CICVX vs. CXGCX - Volatility Comparison
Calamos Convertible Fund (CICVX) has a higher volatility of 6.09% compared to Calamos Global Convertible Fund (CXGCX) at 2.89%. This indicates that CICVX's price experiences larger fluctuations and is considered to be riskier than CXGCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CICVX | CXGCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.09% | 2.89% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 14.11% | 8.62% | +5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 10.97% | +6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.38% | 9.82% | +3.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.12% | 9.58% | +3.54% |
CICVX vs. CXGCX - Expense Ratio Comparison
CICVX has a 0.85% expense ratio, which is lower than CXGCX's 1.03% expense ratio.
Dividends
CICVX vs. CXGCX - Dividend Comparison
CICVX's dividend yield for the trailing twelve months is around 10.58%, more than CXGCX's 4.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CICVX Calamos Convertible Fund | 10.58% | 12.51% | 1.83% | 2.48% | 0.94% | 15.90% | 7.74% | 1.39% | 16.75% | 4.55% | 3.43% | 5.41% |
CXGCX Calamos Global Convertible Fund | 4.68% | 5.15% | 0.00% | 0.39% | 0.00% | 14.77% | 8.19% | 2.36% | 5.75% | 3.73% | 2.22% | 1.30% |
Frequently Asked Questions
With a correlation of 0.92, CICVX and CXGCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CICVX has higher volatility (6.09%) compared to CXGCX (2.89%). In terms of maximum drawdown, CICVX dropped -49.33% vs CXGCX's -30.74%.
CXGCX currently has the higher Sharpe Ratio (2.08 vs 1.65), 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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