CMNIX vs. FPACX
Compare and contrast key facts about Calamos Market Neutral Income Fund Institutional Class (CMNIX) and FPA Crescent Fund (FPACX).
CMNIX is managed by Calamos. It was launched on May 10, 2000. FPACX is managed by FPA. It was launched on Jun 1, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMNIX or FPACX.
Key characteristics
| CMNIX | FPACX | |
|---|---|---|
| YTD Return | 2.80% | 8.39% |
| 1Y Return | 7.90% | 19.56% |
| 3Y Return (Ann) | 3.42% | 5.95% |
| 5Y Return (Ann) | 4.14% | 10.10% |
| 10Y Return (Ann) | 3.85% | 7.62% |
| Sharpe Ratio | 4.14 | 2.37 |
| Daily Std Dev | 1.96% | 8.74% |
| Max Drawdown | -22.81% | -31.59% |
| Current Drawdown | 0.00% | -0.12% |
Correlation
The correlation between CMNIX and FPACX is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CMNIX vs. FPACX - Performance Comparison
In the year-to-date period, CMNIX achieves a 2.80% return, which is significantly lower than FPACX's 8.39% return. Over the past 10 years, CMNIX has underperformed FPACX with an annualized return of 3.85%, while FPACX has yielded a comparatively higher 7.62% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CMNIX vs. FPACX - Expense Ratio Comparison
CMNIX has a 0.90% expense ratio, which is lower than FPACX's 1.00% expense ratio.
Risk-Adjusted Performance
CMNIX vs. FPACX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Market Neutral Income Fund Institutional Class (CMNIX) and FPA Crescent Fund (FPACX). 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.
Dividends
CMNIX vs. FPACX - Dividend Comparison
CMNIX's dividend yield for the trailing twelve months is around 5.79%, more than FPACX's 2.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNIX Calamos Market Neutral Income Fund Institutional Class | 5.79% | 5.90% | 1.02% | 0.46% | 0.90% | 1.57% | 5.01% | 3.12% | 2.96% | 2.90% | 2.28% | 3.55% |
FPACX FPA Crescent Fund | 2.58% | 2.80% | 0.77% | 11.62% | 4.80% | 4.65% | 8.87% | 3.70% | 4.98% | 6.34% | 4.18% | 7.55% |
Drawdowns
CMNIX vs. FPACX - Drawdown Comparison
The maximum CMNIX drawdown since its inception was -22.81%, smaller than the maximum FPACX drawdown of -31.59%. Use the drawdown chart below to compare losses from any high point for CMNIX and FPACX. For additional features, visit the drawdowns tool.
Volatility
CMNIX vs. FPACX - Volatility Comparison
The current volatility for Calamos Market Neutral Income Fund Institutional Class (CMNIX) is 0.97%, while FPA Crescent Fund (FPACX) has a volatility of 2.41%. This indicates that CMNIX experiences smaller price fluctuations and is considered to be less risky than FPACX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.