CIGEX vs. GCCHX

Last updated Jun 4, 2026

CIGEX (Calamos Global Equity Fund) and GCCHX (GMO Climate Change Fund) are both Global Equities funds. Over the past 5 years, CIGEX returned 12.80%/yr vs 4.04%/yr for GCCHX. A 0.71 correlation means they provide meaningful diversification when combined. CIGEX charges 1.15%/yr vs 0.77%/yr for GCCHX.

Performance

CIGEX vs. GCCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Global Equity Fund (CIGEX) and GMO Climate Change Fund (GCCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIGEX achieves a 22.69% return, which is significantly lower than GCCHX's 28.83% return.

CIGEX

• 1D: 0.41%
• 1M: 8.94%
• YTD: 22.69%
• 6M: 23.38%
• 1Y: 37.05%
• 3Y*: 27.75%
• 5Y*: 12.80%
• 10Y*: 15.74%

GCCHX

• 1D: 1.60%
• 1M: 7.08%
• YTD: 28.83%
• 6M: 29.87%
• 1Y: 82.70%
• 3Y*: 6.19%
• 5Y*: 4.04%
• 10Y*: —

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

CIGEX vs. GCCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIGEX Calamos Global Equity Fund	22.69%	18.46%	30.61%	24.55%	-27.42%	16.61%	44.24%	29.43%	-15.54%	24.66%
GCCHX GMO Climate Change Fund	28.83%	39.25%	-25.63%	-6.85%	-10.39%	21.84%	42.82%	27.36%	-16.35%	26.15%

Correlation

The correlation between CIGEX and GCCHX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 19, 2017	0.71

The correlation between CIGEX and GCCHX shifts across timeframes, from 0.58 (3 years) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CIGEX vs. GCCHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CIGEX

CIGEX Risk / Return Rank: 47
CIGEX Sharpe Ratio Rank: 45
CIGEX Sortino Ratio Rank: 39
CIGEX Omega Ratio Rank: 42
CIGEX Calmar Ratio Rank: 54
CIGEX Martin Ratio Rank: 54

GCCHX

GCCHX Risk / Return Rank: 93
GCCHX Sharpe Ratio Rank: 97
GCCHX Sortino Ratio Rank: 90
GCCHX Omega Ratio Rank: 85
GCCHX Calmar Ratio Rank: 97
GCCHX Martin Ratio Rank: 96

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.

CIGEX vs. GCCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Global Equity Fund (CIGEX) and GMO Climate Change Fund (GCCHX). 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.

	CIGEX	GCCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	3.70	-1.74
Sortino ratio: Return per unit of downside risk	2.62	4.37	-1.75
Omega ratio: Gain probability vs. loss probability	1.35	1.57	-0.22
Calmar ratio: Return relative to maximum drawdown	2.82	7.41	-4.60
Martin ratio: Return relative to average drawdown	10.87	24.13	-13.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIGEX vs. GCCHX - Sharpe Ratio Comparison

The current CIGEX Sharpe Ratio is 1.97, which is lower than the GCCHX Sharpe Ratio of 3.70. The chart below compares the historical Sharpe Ratios of CIGEX and GCCHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CIGEX	GCCHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	3.70	-1.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.15	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.44	+0.07

Drawdowns

CIGEX vs. GCCHX - Drawdown Comparison

The maximum CIGEX drawdown since its inception was -60.48%, which is greater than GCCHX's maximum drawdown of -54.32%. Use the drawdown chart below to compare losses from any high point for CIGEX and GCCHX.

Drawdown Indicators

	CIGEX	GCCHX	Difference
Max Drawdown Largest peak-to-trough decline	-60.48%	-54.32%	-6.16%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-11.76%	-1.55%
Max Drawdown (3Y) Largest decline over 3 years	-20.41%	-52.03%	+31.62%
Max Drawdown (5Y) Largest decline over 5 years	-35.81%	-54.32%	+18.51%
Max Drawdown (10Y) Largest decline over 10 years	-35.81%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.34%	-13.91%	+3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	3.61%	-0.17%

Volatility

CIGEX vs. GCCHX - Volatility Comparison

Calamos Global Equity Fund (CIGEX) and GMO Climate Change Fund (GCCHX) have volatilities of 6.27% and 6.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIGEX	GCCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	6.47%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	15.55%	16.31%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	19.09%	23.57%	-4.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	26.95%	-7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.45%	25.15%	-5.70%

CIGEX vs. GCCHX - Expense Ratio Comparison

CIGEX has a 1.15% expense ratio, which is higher than GCCHX's 0.77% expense ratio.

Dividends

CIGEX vs. GCCHX - Dividend Comparison

CIGEX's dividend yield for the trailing twelve months is around 12.53%, more than GCCHX's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIGEX Calamos Global Equity Fund	12.53%	15.37%	8.67%	0.10%	4.43%	11.75%	6.51%	7.44%	27.66%	9.21%	4.62%	1.98%
GCCHX GMO Climate Change Fund	1.17%	1.51%	0.66%	0.96%	2.24%	25.43%	5.42%	4.03%	2.62%	3.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CIGEX and GCCHX in my portfolio?

CIGEX and GCCHX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIGEX or GCCHX?

GCCHX has higher volatility (6.47%) compared to CIGEX (6.27%). In terms of maximum drawdown, CIGEX dropped -60.48% vs GCCHX's -54.32%.

Which has better risk-adjusted returns?

GCCHX currently has the higher Sharpe Ratio (3.70 vs 1.97), 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.