CIHEX vs. CVLOX
Compare and contrast key facts about Calamos Hedged Equity Fund (CIHEX) and Calamos Global Opportunities Fund (CVLOX).
CIHEX is managed by Calamos. It was launched on Dec 30, 2014. CVLOX is managed by Calamos. It was launched on Sep 8, 1996.
Performance
CIHEX vs. CVLOX - Performance Comparison
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CIHEX vs. CVLOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIHEX Calamos Hedged Equity Fund | -2.14% | 11.36% | 14.96% | 15.88% | -11.11% | 13.31% | 9.66% | 14.47% | 0.87% | 8.37% |
CVLOX Calamos Global Opportunities Fund | 0.00% | 15.84% | 23.81% | 13.88% | -22.17% | 15.72% | 31.76% | 18.28% | -9.88% | 20.04% |
Returns By Period
Over the past 10 years, CIHEX has underperformed CVLOX with an annualized return of 7.78%, while CVLOX has yielded a comparatively higher 9.78% annualized return.
CIHEX
- 1D
- 1.46%
- 1M
- -2.44%
- YTD
- -2.14%
- 6M
- -0.60%
- 1Y
- 11.29%
- 3Y*
- 11.60%
- 5Y*
- 7.06%
- 10Y*
- 7.78%
CVLOX
- 1D
- 3.21%
- 1M
- -6.07%
- YTD
- 0.00%
- 6M
- -1.45%
- 1Y
- 20.39%
- 3Y*
- 15.46%
- 5Y*
- 6.87%
- 10Y*
- 9.78%
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CIHEX vs. CVLOX - Expense Ratio Comparison
CIHEX has a 0.91% expense ratio, which is lower than CVLOX's 1.22% expense ratio.
Return for Risk
CIHEX vs. CVLOX — Risk / Return Rank
CIHEX
CVLOX
CIHEX vs. CVLOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Hedged Equity Fund (CIHEX) 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.
| CIHEX | CVLOX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.24 | 1.38 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.85 | 1.91 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.02 | 2.08 | -0.06 |
Martin ratioReturn relative to average drawdown | 9.02 | 7.62 | +1.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIHEX | CVLOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 1.38 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.48 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.67 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.56 | +0.19 |
Correlation
The correlation between CIHEX and CVLOX is 0.87, 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
CIHEX vs. CVLOX - Dividend Comparison
CIHEX's dividend yield for the trailing twelve months is around 0.33%, less than CVLOX's 9.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIHEX Calamos Hedged Equity Fund | 0.33% | 0.33% | 0.46% | 0.69% | 0.73% | 0.44% | 1.03% | 0.99% | 3.16% | 0.85% | 1.29% | 1.69% |
CVLOX Calamos Global Opportunities Fund | 9.08% | 9.10% | 8.15% | 0.61% | 0.00% | 5.71% | 6.11% | 1.28% | 12.65% | 6.04% | 0.68% | 1.28% |
Drawdowns
CIHEX vs. CVLOX - Drawdown Comparison
The maximum CIHEX drawdown since its inception was -17.80%, smaller than the maximum CVLOX drawdown of -46.61%. Use the drawdown chart below to compare losses from any high point for CIHEX and CVLOX.
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Drawdown Indicators
| CIHEX | CVLOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.80% | -46.61% | +28.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.82% | -9.85% | +4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -29.97% | +14.20% |
Max Drawdown (10Y)Largest decline over 10 years | -17.80% | -29.97% | +12.17% |
Current DrawdownCurrent decline from peak | -3.29% | -6.95% | +3.66% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -9.04% | +6.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 2.69% | -1.39% |
Volatility
CIHEX vs. CVLOX - Volatility Comparison
The current volatility for Calamos Hedged Equity Fund (CIHEX) is 2.66%, while Calamos Global Opportunities Fund (CVLOX) has a volatility of 7.15%. This indicates that CIHEX experiences smaller price fluctuations and is considered to be less risky 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
| CIHEX | CVLOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 7.15% | -4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 5.01% | 11.24% | -6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 15.18% | -5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.13% | 14.37% | -5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.38% | 14.64% | -5.26% |