Correlation
The correlation between CIHEX and SPY is 0.97, 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.
CIHEX vs. SPY
Compare and contrast key facts about Calamos Hedged Equity Fund (CIHEX) and SPDR S&P 500 ETF (SPY).
CIHEX is managed by Calamos. It was launched on Dec 30, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CIHEX or SPY.
Performance
CIHEX vs. SPY - Performance Comparison
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Key characteristics
CIHEX:
0.92
SPY:
0.67
CIHEX:
1.31
SPY:
1.03
CIHEX:
1.18
SPY:
1.15
CIHEX:
0.93
SPY:
0.69
CIHEX:
3.48
SPY:
2.61
CIHEX:
2.60%
SPY:
4.92%
CIHEX:
10.33%
SPY:
20.44%
CIHEX:
-17.80%
SPY:
-55.19%
CIHEX:
-1.33%
SPY:
-3.44%
Returns By Period
In the year-to-date period, CIHEX achieves a 1.24% return, which is significantly higher than SPY's 0.98% return. Over the past 10 years, CIHEX has underperformed SPY with an annualized return of 6.55%, while SPY has yielded a comparatively higher 12.73% annualized return.
CIHEX
1.24%
3.67%
0.42%
9.39%
9.35%
8.56%
6.55%
SPY
0.98%
6.45%
-0.84%
13.58%
14.08%
15.83%
12.73%
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CIHEX vs. SPY - Expense Ratio Comparison
CIHEX has a 0.91% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
CIHEX vs. SPY — Risk-Adjusted Performance Rank
CIHEX
SPY
CIHEX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Hedged Equity Fund (CIHEX) and SPDR S&P 500 ETF (SPY). 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.
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Dividends
CIHEX vs. SPY - Dividend Comparison
CIHEX's dividend yield for the trailing twelve months is around 0.45%, less than SPY's 1.21% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIHEX Calamos Hedged Equity Fund | 0.45% | 0.46% | 0.68% | 0.73% | 0.44% | 1.03% | 0.99% | 3.15% | 0.85% | 1.29% | 2.60% | 0.00% |
SPY SPDR S&P 500 ETF | 1.21% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
CIHEX vs. SPY - Drawdown Comparison
The maximum CIHEX drawdown since its inception was -17.80%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CIHEX and SPY.
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Volatility
CIHEX vs. SPY - Volatility Comparison
The current volatility for Calamos Hedged Equity Fund (CIHEX) is 2.53%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.85%. This indicates that CIHEX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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