CMNIX vs. CHI
Compare and contrast key facts about Calamos Market Neutral Income Fund Institutional Class (CMNIX) and Calamos Convertible Opportunities and Income Fund (CHI).
CMNIX is managed by Calamos. It was launched on May 10, 2000. CHI is an actively managed fund by Calamos. It was launched on Jun 25, 1997.
Performance
CMNIX vs. CHI - Performance Comparison
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CMNIX vs. CHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMNIX Calamos Market Neutral Income Fund Institutional Class | 0.37% | 6.89% | 7.43% | 9.17% | -4.26% | 5.02% | 5.36% | 6.72% | 1.79% | 4.21% |
CHI Calamos Convertible Opportunities and Income Fund | 7.61% | -2.15% | 27.23% | 9.49% | -23.31% | 20.31% | 33.82% | 35.66% | -12.67% | 22.70% |
Returns By Period
In the year-to-date period, CMNIX achieves a 0.37% return, which is significantly lower than CHI's 7.61% return. Over the past 10 years, CMNIX has underperformed CHI with an annualized return of 4.67%, while CHI has yielded a comparatively higher 11.94% annualized return.
CMNIX
- 1D
- 0.45%
- 1M
- -0.51%
- YTD
- 0.37%
- 6M
- 1.79%
- 1Y
- 6.09%
- 3Y*
- 6.86%
- 5Y*
- 4.49%
- 10Y*
- 4.67%
CHI
- 1D
- 3.26%
- 1M
- -2.74%
- YTD
- 7.61%
- 6M
- 8.24%
- 1Y
- 26.79%
- 3Y*
- 12.98%
- 5Y*
- 4.69%
- 10Y*
- 11.94%
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CMNIX vs. CHI - Expense Ratio Comparison
CMNIX has a 0.90% expense ratio, which is higher than CHI's 0.88% expense ratio.
Return for Risk
CMNIX vs. CHI — Risk / Return Rank
CMNIX
CHI
CMNIX vs. CHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Market Neutral Income Fund Institutional Class (CMNIX) and Calamos Convertible Opportunities and Income Fund (CHI). 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.
| CMNIX | CHI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 1.36 | +0.39 |
Sortino ratioReturn per unit of downside risk | 2.61 | 2.00 | +0.61 |
Omega ratioGain probability vs. loss probability | 1.55 | 1.28 | +0.28 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.49 | -0.22 |
Martin ratioReturn relative to average drawdown | 15.50 | 9.85 | +5.64 |
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
| CMNIX | CHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.36 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.30 | 0.24 | +1.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.29 | 0.52 | +0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.39 | -0.03 |
Correlation
The correlation between CMNIX and CHI is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CMNIX vs. CHI - Dividend Comparison
CMNIX's dividend yield for the trailing twelve months is around 1.75%, less than CHI's 10.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNIX Calamos Market Neutral Income Fund Institutional Class | 1.75% | 1.63% | 2.00% | 5.90% | 1.02% | 0.46% | 0.90% | 1.57% | 5.02% | 2.60% | 2.97% | 2.42% |
CHI Calamos Convertible Opportunities and Income Fund | 10.28% | 10.88% | 9.55% | 11.00% | 10.85% | 7.54% | 6.75% | 8.49% | 12.19% | 10.19% | 11.30% | 11.50% |
Drawdowns
CMNIX vs. CHI - Drawdown Comparison
The maximum CMNIX drawdown since its inception was -35.16%, smaller than the maximum CHI drawdown of -64.72%. Use the drawdown chart below to compare losses from any high point for CMNIX and CHI.
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Drawdown Indicators
| CMNIX | CHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.16% | -64.72% | +29.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -11.55% | +8.84% |
Max Drawdown (5Y)Largest decline over 5 years | -7.52% | -36.03% | +28.51% |
Max Drawdown (10Y)Largest decline over 10 years | -8.12% | -49.64% | +41.52% |
Current DrawdownCurrent decline from peak | -0.58% | -4.32% | +3.74% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -9.73% | +2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 2.92% | -2.52% |
Volatility
CMNIX vs. CHI - Volatility Comparison
The current volatility for Calamos Market Neutral Income Fund Institutional Class (CMNIX) is 0.92%, while Calamos Convertible Opportunities and Income Fund (CHI) has a volatility of 8.57%. This indicates that CMNIX experiences smaller price fluctuations and is considered to be less risky than CHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMNIX | CHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 8.57% | -7.65% |
Volatility (6M)Calculated over the trailing 6-month period | 1.39% | 13.83% | -12.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 19.88% | -16.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 20.01% | -16.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.63% | 23.09% | -19.46% |