CIGIX vs. CSTIX

Last updated Aug 1, 2026

CIGIX (Calamos International Growth Fund) and CSTIX (Calamos Short-Term Bond Fund) are both mutual funds - CIGIX is a Foreign Large Cap Equities fund managed by Calamos, while CSTIX is a Short-Term Bond fund managed by Calamos. Over the past 5 years, CIGIX returned 1.91%/yr vs 2.48%/yr for CSTIX. Their 0.16 correlation means their historical movements had little consistent relationship. CIGIX charges 0.85%/yr vs 0.40%/yr for CSTIX.

Performance

CIGIX vs. CSTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos International Growth Fund (CIGIX) and Calamos Short-Term Bond Fund (CSTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIGIX achieves a 16.59% return, which is significantly higher than CSTIX's 0.41% return.

CIGIX

• 1D: 3.36%
• 1M: -8.13%
• 6M: 4.57%
• YTD: 16.59%
• 1Y: 26.07%
• 3Y*: 18.47%
• 5Y*: 1.91%
• 10Y*: 8.71%
• ALL TIME*: 7.31%

CSTIX

• 1D: 0.00%
• 1M: -0.32%
• 6M: 0.13%
• YTD: 0.41%
• 1Y: 2.55%
• 3Y*: 4.70%
• 5Y*: 2.48%
• 10Y*: —
• ALL TIME*: 2.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CIGIX Calamos International Growth Fund	$0.00	$0.00	$0.00
CSTIX Calamos Short-Term Bond Fund	$0.00	$0.00	$0.00

CIGIX vs. CSTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CIGIX Calamos International Growth Fund	16.59%	23.11%	12.51%	15.33%	-30.54%	-8.98%	44.95%	29.69%	-17.85%
CSTIX Calamos Short-Term Bond Fund	0.41%	6.11%	4.91%	4.76%	-3.04%	0.13%	4.06%	4.84%	0.62%

Correlation

The correlation between CIGIX and CSTIX is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.20
Correlation (All Time) Calculated using the full available price history since Sep 20, 2018	0.16

Return for Risk

CIGIX vs. CSTIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CIGIX

CIGIX Risk / Return Rank: 29
CIGIX Sharpe Ratio Rank: 27
CIGIX Sortino Ratio Rank: 27
CIGIX Omega Ratio Rank: 29
CIGIX Calmar Ratio Rank: 30
CIGIX Martin Ratio Rank: 29

CSTIX

CSTIX Risk / Return Rank: 79
CSTIX Sharpe Ratio Rank: 72
CSTIX Sortino Ratio Rank: 85
CSTIX Omega Ratio Rank: 83
CSTIX Calmar Ratio Rank: 75
CSTIX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CIGIX vs. CSTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos International Growth Fund (CIGIX) and Calamos Short-Term Bond Fund (CSTIX). 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.

	CIGIX	CSTIX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.73	-0.83
Sortino ratio: Return per unit of downside risk	1.37	3.11	-1.73
Omega ratio: Gain probability vs. loss probability	1.18	1.41	-0.23
Calmar ratio: Return relative to maximum drawdown	1.33	2.52	-1.19
Martin ratio: Return relative to average drawdown	4.24	9.87	-5.63

CIGIX vs. CSTIX - Sharpe Ratio Comparison

The current CIGIX Sharpe Ratio is 0.90, which is lower than the CSTIX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of CIGIX and CSTIX, 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

CIGIX vs. CSTIX - Drawdown Comparison

The maximum CIGIX drawdown since its inception was -64.46%, which is greater than CSTIX's maximum drawdown of -6.03%. Use the drawdown chart below to compare losses from any high point for CIGIX and CSTIX.

Drawdown Indicators

	CIGIX	CSTIX	Difference
Max Drawdown Largest peak-to-trough decline	-64.46%	-6.03%	-58.43%
Max Drawdown (1Y) Largest decline over 1 year	-18.45%	-1.35%	-17.10%
Max Drawdown (3Y) Largest decline over 3 years	-19.38%	-1.35%	-18.03%
Max Drawdown (5Y) Largest decline over 5 years	-50.15%	-6.03%	-44.12%
Max Drawdown (10Y) Largest decline over 10 years	-50.15%	—	—
Current Drawdown Current decline from peak	-15.71%	-0.32%	-15.39%
Average Drawdown Average peak-to-trough decline	-15.24%	-0.88%	-14.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.79%	0.34%	+5.45%

Volatility

CIGIX vs. CSTIX - Volatility Comparison

Calamos International Growth Fund (CIGIX) has a higher volatility of 9.03% compared to Calamos Short-Term Bond Fund (CSTIX) at 0.41%. This indicates that CIGIX's price experiences larger fluctuations and is considered to be riskier than CSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIGIX	CSTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	0.41%	+8.62%
Volatility (6M) Calculated over the trailing 6-month period	24.74%	1.45%	+23.29%
Volatility (1Y) Calculated over the trailing 1-year period	27.37%	1.97%	+25.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.10%	2.28%	+19.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	2.12%	+18.28%

CIGIX vs. CSTIX - Expense Ratio Comparison

CIGIX has a 0.85% expense ratio, which is higher than CSTIX's 0.40% expense ratio.

Dividends

CIGIX vs. CSTIX - Dividend Comparison

CIGIX's dividend yield for the trailing twelve months is around 11.57%, more than CSTIX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIGIX Calamos International Growth Fund	11.57%	13.49%	4.54%	0.28%	0.00%	0.33%	5.42%	0.00%	13.25%	3.76%	0.00%	0.13%
CSTIX Calamos Short-Term Bond Fund	3.80%	4.55%	4.46%	3.02%	2.56%	3.37%	3.38%	3.43%	0.72%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CIGIX and CSTIX in my portfolio?

CIGIX and CSTIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIGIX or CSTIX?

CIGIX has higher volatility (9.03%) compared to CSTIX (0.41%). In terms of maximum drawdown, CIGIX dropped -64.46% vs CSTIX's -6.03%.

Which has better risk-adjusted returns?

CSTIX currently has the higher Sharpe Ratio (1.73 vs 0.90), 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.