CIGEX vs. CVLOX
CIGEX (Calamos Global Equity Fund) and CVLOX (Calamos Global Opportunities Fund) are both mutual funds - CIGEX is a Global Equities fund managed by Calamos, while CVLOX is a Global Allocation fund managed by Calamos. Over the past 10 years, CIGEX returned 14.24%/yr vs 10.59%/yr for CVLOX. Their 0.97 correlation means they have historically moved very closely together. CIGEX charges 1.15%/yr vs 1.22%/yr for CVLOX.
Performance
CIGEX vs. CVLOX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CIGEX having a 12.12% return and CVLOX slightly lower at 12.04%. Over the past 10 years, CIGEX has outperformed CVLOX with an annualized return of 14.24%, while CVLOX has yielded a comparatively lower 10.59% annualized return.
CIGEX
- 1D
- 2.75%
- 1M
- -3.63%
- 6M
- 6.72%
- YTD
- 12.12%
- 1Y
- 19.16%
- 3Y*
- 21.69%
- 5Y*
- 10.34%
- 10Y*
- 14.24%
- ALL TIME*
- 10.12%
CVLOX
- 1D
- 1.91%
- 1M
- -2.77%
- 6M
- 6.64%
- YTD
- 12.04%
- 1Y
- 18.36%
- 3Y*
- 17.78%
- 5Y*
- 8.49%
- 10Y*
- 10.59%
- ALL TIME*
- 8.04%
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 |
CIGEX vs. CVLOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIGEX Calamos Global Equity Fund | 12.12% | 18.46% | 30.61% | 24.55% | -27.42% | 16.61% | 44.24% | 29.43% | -15.54% | 34.56% |
CVLOX Calamos Global Opportunities Fund | 12.04% | 15.84% | 23.81% | 13.88% | -22.17% | 15.72% | 31.76% | 18.28% | -9.88% | 20.04% |
Correlation
The correlation between CIGEX and CVLOX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2007 | 0.97 |
The correlation between CIGEX and CVLOX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
CIGEX vs. CVLOX — Risk / Return Rank
CIGEX
CVLOX
CIGEX vs. CVLOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Global Equity Fund (CIGEX) and Calamos Global Opportunities Fund (CVLOX). 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.
| CIGEX | CVLOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.19 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.69 | -0.40 |
| Martin ratioReturn relative to average drawdown | 4.17 | 5.52 | -1.35 |
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Drawdowns
CIGEX vs. CVLOX - Drawdown Comparison
The maximum CIGEX drawdown since its inception was -60.48%, which is greater than CVLOX's maximum drawdown of -46.61%. Use the drawdown chart below to compare losses from any high point for CIGEX and CVLOX.
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Drawdown Indicators
| CIGEX | CVLOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.48% | -46.61% | -13.87% |
Max Drawdown (1Y)Largest decline over 1 year | -13.31% | -9.85% | -3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -20.41% | -15.16% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -35.81% | -29.97% | -5.84% |
Max Drawdown (10Y)Largest decline over 10 years | -35.81% | -29.97% | -5.84% |
Current DrawdownCurrent decline from peak | -8.61% | -6.02% | -2.59% |
Average DrawdownAverage peak-to-trough decline | -10.29% | -8.96% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.12% | 3.02% | +1.10% |
Volatility
CIGEX vs. CVLOX - Volatility Comparison
Calamos Global Equity Fund (CIGEX) has a higher volatility of 6.55% compared to Calamos Global Opportunities Fund (CVLOX) at 5.07%. This indicates that CIGEX's price experiences larger fluctuations and is considered to be riskier than CVLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIGEX | CVLOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.55% | 5.07% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 18.29% | 13.87% | +4.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.59% | 16.17% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.89% | 14.83% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 14.91% | +4.69% |
CIGEX vs. CVLOX - Expense Ratio Comparison
CIGEX has a 1.15% expense ratio, which is lower than CVLOX's 1.22% expense ratio.
Dividends
CIGEX vs. CVLOX - Dividend Comparison
CIGEX's dividend yield for the trailing twelve months is around 13.71%, more than CVLOX's 8.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIGEX Calamos Global Equity Fund | 13.71% | 15.37% | 8.67% | 0.10% | 4.43% | 11.75% | 6.51% | 7.44% | 27.66% | 9.21% | 4.62% | 1.98% |
CVLOX Calamos Global Opportunities Fund | 8.05% | 9.10% | 8.15% | 0.61% | 0.00% | 5.71% | 6.11% | 1.28% | 12.65% | 6.04% | 0.68% | 1.28% |
Frequently Asked Questions
With a correlation of 0.98, CIGEX and CVLOX 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.
CIGEX has higher volatility (6.55%) compared to CVLOX (5.07%). In terms of maximum drawdown, CIGEX dropped -60.48% vs CVLOX's -46.61%.
CVLOX currently has the higher Sharpe Ratio (1.03 vs 0.80), 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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