CIGEX vs. NFJEX

Last updated Jun 23, 2026

CIGEX (Calamos Global Equity Fund) and NFJEX (Virtus NFJ Dividend Value Fund) are both mutual funds - CIGEX is a Global Equities fund managed by Calamos, while NFJEX is a Large Cap Value Equities fund managed by Allianz. Over the past 10 years, CIGEX returned 15.84%/yr vs 9.91%/yr for NFJEX. A 0.78 correlation means they provide meaningful diversification when combined. CIGEX charges 1.15%/yr vs 0.70%/yr for NFJEX.

Performance

CIGEX vs. NFJEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Global Equity Fund (CIGEX) and Virtus NFJ Dividend Value Fund (NFJEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIGEX achieves a 21.64% return, which is significantly higher than NFJEX's 19.09% return. Over the past 10 years, CIGEX has outperformed NFJEX with an annualized return of 15.84%, while NFJEX has yielded a comparatively lower 9.91% annualized return.

CIGEX

• 1D: 2.29%
• 1M: 2.05%
• YTD: 21.64%
• 6M: 20.90%
• 1Y: 36.09%
• 3Y*: 26.28%
• 5Y*: 12.95%
• 10Y*: 15.84%

NFJEX

• 1D: 0.27%
• 1M: 3.29%
• YTD: 19.09%
• 6M: 17.57%
• 1Y: 31.57%
• 3Y*: 15.11%
• 5Y*: 10.09%
• 10Y*: 9.91%

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

CIGEX vs. NFJEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIGEX Calamos Global Equity Fund	21.64%	18.46%	30.61%	24.55%	-27.42%	16.61%	44.24%	29.43%	-15.54%	34.56%
NFJEX Virtus NFJ Dividend Value Fund	19.09%	8.46%	5.29%	19.79%	-13.63%	28.90%	-2.13%	25.12%	-10.15%	15.49%

Correlation

The correlation between CIGEX and NFJEX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 2, 2007	0.78

Over the past year, the correlation between CIGEX and NFJEX has dropped to 0.56 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

CIGEX vs. NFJEX — Risk / Return Rank

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

CIGEX

CIGEX Risk / Return Rank: 44
CIGEX Sharpe Ratio Rank: 41
CIGEX Sortino Ratio Rank: 36
CIGEX Omega Ratio Rank: 39
CIGEX Calmar Ratio Rank: 52
CIGEX Martin Ratio Rank: 51

NFJEX

NFJEX Risk / Return Rank: 80
NFJEX Sharpe Ratio Rank: 78
NFJEX Sortino Ratio Rank: 79
NFJEX Omega Ratio Rank: 69
NFJEX Calmar Ratio Rank: 90
NFJEX Martin Ratio Rank: 84

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. NFJEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Global Equity Fund (CIGEX) and Virtus NFJ Dividend Value Fund (NFJEX). 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	NFJEX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.39	-0.65
Sortino ratio: Return per unit of downside risk	2.33	3.44	-1.11
Omega ratio: Gain probability vs. loss probability	1.31	1.42	-0.11
Calmar ratio: Return relative to maximum drawdown	2.65	4.30	-1.65
Martin ratio: Return relative to average drawdown	9.88	14.68	-4.80

CIGEX vs. NFJEX - Sharpe Ratio Comparison

The current CIGEX Sharpe Ratio is 1.73, which is comparable to the NFJEX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of CIGEX and NFJEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CIGEX vs. NFJEX - Drawdown Comparison

The maximum CIGEX drawdown since its inception was -60.48%, roughly equal to the maximum NFJEX drawdown of -61.94%. Use the drawdown chart below to compare losses from any high point for CIGEX and NFJEX.

Drawdown Indicators

	CIGEX	NFJEX	Difference
Max Drawdown Largest peak-to-trough decline	-60.48%	-61.94%	+1.46%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-7.38%	-5.93%
Max Drawdown (3Y) Largest decline over 3 years	-20.41%	-19.69%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-35.81%	-23.29%	-12.52%
Max Drawdown (10Y) Largest decline over 10 years	-35.81%	-39.25%	+3.44%
Current Drawdown Current decline from peak	-0.86%	-0.65%	-0.21%
Average Drawdown Average peak-to-trough decline	-10.32%	-9.60%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.16%	+1.40%

Volatility

CIGEX vs. NFJEX - Volatility Comparison

Calamos Global Equity Fund (CIGEX) has a higher volatility of 8.04% compared to Virtus NFJ Dividend Value Fund (NFJEX) at 4.49%. This indicates that CIGEX's price experiences larger fluctuations and is considered to be riskier than NFJEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIGEX	NFJEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	4.49%	+3.55%
Volatility (6M) Calculated over the trailing 6-month period	16.94%	9.83%	+7.11%
Volatility (1Y) Calculated over the trailing 1-year period	20.32%	13.28%	+7.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.67%	16.56%	+3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	18.16%	+1.40%

CIGEX vs. NFJEX - Expense Ratio Comparison

CIGEX has a 1.15% expense ratio, which is higher than NFJEX's 0.70% expense ratio.

Dividends

CIGEX vs. NFJEX - Dividend Comparison

CIGEX's dividend yield for the trailing twelve months is around 12.63%, more than NFJEX's 10.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIGEX Calamos Global Equity Fund	12.63%	15.37%	8.67%	0.10%	4.43%	11.75%	6.51%	7.44%	27.66%	9.21%	4.62%	1.98%
NFJEX Virtus NFJ Dividend Value Fund	10.34%	12.61%	3.51%	14.16%	19.01%	6.43%	1.96%	14.20%	27.33%	27.35%	6.05%	2.77%

Frequently Asked Questions

Can I hold both CIGEX and NFJEX in my portfolio?

CIGEX and NFJEX have a correlation of 0.56, 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 NFJEX?

CIGEX has higher volatility (8.04%) compared to NFJEX (4.49%). In terms of maximum drawdown, CIGEX dropped -60.48% vs NFJEX's -61.94%.

Which has better risk-adjusted returns?

NFJEX currently has the higher Sharpe Ratio (2.39 vs 1.73), 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.