CIGIX vs. PPYPX

Last updated Apr 1, 2026

Compare and contrast key facts about Calamos International Growth Fund (CIGIX) and PIMCO RAE International Fund (PPYPX).

CIGIX is managed by Calamos. It was launched on Mar 15, 2005. PPYPX is managed by PIMCO. It was launched on Jun 4, 2015.

Performance

CIGIX vs. PPYPX - Performance Comparison

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

CIGIX vs. PPYPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIGIX Calamos International Growth Fund	-1.22%	23.11%	12.51%	15.33%	-30.54%	-8.98%	44.95%	29.69%	-20.93%	39.54%
PPYPX PIMCO RAE International Fund	8.42%	31.34%	-1.15%	18.13%	-8.73%	10.68%	2.05%	16.43%	-15.49%	24.89%

Returns By Period

In the year-to-date period, CIGIX achieves a -1.22% return, which is significantly lower than PPYPX's 8.42% return. Over the past 10 years, CIGIX has underperformed PPYPX with an annualized return of 7.46%, while PPYPX has yielded a comparatively higher 8.80% annualized return.

CIGIX

• 1D: -1.26%
• 1M: -15.50%
• YTD: -1.22%
• 6M: -2.15%
• 1Y: 21.27%
• 3Y*: 12.91%
• 5Y*: -0.34%
• 10Y*: 7.46%

PPYPX

• 1D: 0.63%
• 1M: -6.12%
• YTD: 8.42%
• 6M: 13.11%
• 1Y: 31.25%
• 3Y*: 15.99%
• 5Y*: 8.93%
• 10Y*: 8.80%

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

CIGIX vs. PPYPX - Expense Ratio Comparison

CIGIX has a 0.85% expense ratio, which is higher than PPYPX's 0.60% expense ratio.

CIGIX

Calamos International Growth Fund

PPYPX

PIMCO RAE International Fund

Return for Risk

CIGIX vs. PPYPX — Risk / Return Rank

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

CIGIX

CIGIX Risk / Return Rank: 45
CIGIX Sharpe Ratio Rank: 46
CIGIX Sortino Ratio Rank: 45
CIGIX Omega Ratio Rank: 43
CIGIX Calmar Ratio Rank: 46
CIGIX Martin Ratio Rank: 43

PPYPX

PPYPX Risk / Return Rank: 90
PPYPX Sharpe Ratio Rank: 92
PPYPX Sortino Ratio Rank: 89
PPYPX Omega Ratio Rank: 88
PPYPX Calmar Ratio Rank: 90
PPYPX Martin Ratio Rank: 93

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.

CIGIX vs. PPYPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos International Growth Fund (CIGIX) and PIMCO RAE International Fund (PPYPX). 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.

	CIGIX	PPYPX	Difference
Sharpe ratio Return per unit of total volatility	0.93	1.96	-1.03
Sortino ratio Return per unit of downside risk	1.35	2.52	-1.17
Omega ratio Gain probability vs. loss probability	1.19	1.38	-0.19
Calmar ratio Return relative to maximum drawdown	1.16	2.46	-1.29
Martin ratio Return relative to average drawdown	4.44	11.58	-7.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIGIX vs. PPYPX - Sharpe Ratio Comparison

The current CIGIX Sharpe Ratio is 0.93, which is lower than the PPYPX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of CIGIX and PPYPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CIGIX	PPYPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.96	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.46	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.46	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.45	-0.14

Correlation

The correlation between CIGIX and PPYPX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CIGIX vs. PPYPX - Dividend Comparison

CIGIX's dividend yield for the trailing twelve months is around 13.65%, more than PPYPX's 7.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIGIX Calamos International Growth Fund	13.65%	13.49%	4.54%	0.28%	0.00%	0.33%	5.42%	0.00%	13.25%	3.76%	0.00%	0.13%
PPYPX PIMCO RAE International Fund	7.17%	7.78%	6.57%	10.09%	7.20%	27.06%	2.23%	4.20%	5.96%	2.53%	2.41%	0.00%

Drawdowns

CIGIX vs. PPYPX - Drawdown Comparison

The maximum CIGIX drawdown since its inception was -64.46%, which is greater than PPYPX's maximum drawdown of -42.48%. Use the drawdown chart below to compare losses from any high point for CIGIX and PPYPX.

Drawdown Indicators

	CIGIX	PPYPX	Difference
Max Drawdown Largest peak-to-trough decline	-64.46%	-42.48%	-21.98%
Max Drawdown (1Y) Largest decline over 1 year	-15.88%	-10.21%	-5.67%
Max Drawdown (5Y) Largest decline over 5 years	-50.15%	-35.65%	-14.50%
Max Drawdown (10Y) Largest decline over 10 years	-50.15%	-42.48%	-7.67%
Current Drawdown Current decline from peak	-15.88%	-6.12%	-9.76%
Average Drawdown Average peak-to-trough decline	-15.40%	-10.28%	-5.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	2.47%	+1.69%

Volatility

CIGIX vs. PPYPX - Volatility Comparison

Calamos International Growth Fund (CIGIX) has a higher volatility of 10.44% compared to PIMCO RAE International Fund (PPYPX) at 4.98%. This indicates that CIGIX's price experiences larger fluctuations and is considered to be riskier than PPYPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIGIX	PPYPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.44%	4.98%	+5.46%
Volatility (6M) Calculated over the trailing 6-month period	16.47%	9.98%	+6.49%
Volatility (1Y) Calculated over the trailing 1-year period	22.23%	15.30%	+6.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.40%	19.59%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	19.07%	+0.47%