CMNIX vs. CIHEX
Compare and contrast key facts about Calamos Market Neutral Income Fund Institutional Class (CMNIX) and Calamos Hedged Equity Fund (CIHEX).
CMNIX is managed by Calamos. It was launched on May 10, 2000. CIHEX is managed by Calamos. It was launched on Dec 30, 2014.
Performance
CMNIX vs. CIHEX - Performance Comparison
Loading graphics...
CMNIX vs. CIHEX - 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% |
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% |
Returns By Period
In the year-to-date period, CMNIX achieves a 0.37% return, which is significantly higher than CIHEX's -2.14% return. Over the past 10 years, CMNIX has underperformed CIHEX with an annualized return of 4.67%, while CIHEX has yielded a comparatively higher 7.78% 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%
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%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
CMNIX vs. CIHEX - Expense Ratio Comparison
CMNIX has a 0.90% expense ratio, which is lower than CIHEX's 0.91% expense ratio.
Return for Risk
CMNIX vs. CIHEX — Risk / Return Rank
CMNIX
CIHEX
CMNIX vs. CIHEX - 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 Hedged Equity Fund (CIHEX). 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 | CIHEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 1.24 | +0.51 |
Sortino ratioReturn per unit of downside risk | 2.61 | 1.85 | +0.76 |
Omega ratioGain probability vs. loss probability | 1.55 | 1.27 | +0.28 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.02 | +0.25 |
Martin ratioReturn relative to average drawdown | 15.50 | 9.02 | +6.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| CMNIX | CIHEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.24 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.30 | 0.78 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.29 | 0.83 | +0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.74 | -0.38 |
Correlation
The correlation between CMNIX and CIHEX is 0.85, 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
CMNIX vs. CIHEX - Dividend Comparison
CMNIX's dividend yield for the trailing twelve months is around 1.75%, more than CIHEX's 0.33% 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% |
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% |
Drawdowns
CMNIX vs. CIHEX - Drawdown Comparison
The maximum CMNIX drawdown since its inception was -35.16%, which is greater than CIHEX's maximum drawdown of -17.80%. Use the drawdown chart below to compare losses from any high point for CMNIX and CIHEX.
Loading graphics...
Drawdown Indicators
| CMNIX | CIHEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.16% | -17.80% | -17.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -5.82% | +3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -7.52% | -15.77% | +8.25% |
Max Drawdown (10Y)Largest decline over 10 years | -8.12% | -17.80% | +9.68% |
Current DrawdownCurrent decline from peak | -0.58% | -3.29% | +2.71% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -2.34% | -4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 1.30% | -0.90% |
Volatility
CMNIX vs. CIHEX - Volatility Comparison
The current volatility for Calamos Market Neutral Income Fund Institutional Class (CMNIX) is 0.92%, while Calamos Hedged Equity Fund (CIHEX) has a volatility of 2.66%. This indicates that CMNIX experiences smaller price fluctuations and is considered to be less risky than CIHEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| CMNIX | CIHEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 2.66% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 1.39% | 5.01% | -3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 9.28% | -5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 9.13% | -5.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.63% | 9.38% | -5.75% |