CNWIX vs. EAD

Last updated Jun 23, 2026

CNWIX (Calamos Evolving World Growth Fund Class I) and EAD (Emerging Markets Dividend Fund) are both Emerging Markets Equities funds. Over the past 10 years, CNWIX returned 12.35%/yr vs 7.31%/yr for EAD. At a 0.40 correlation, their price movements are largely independent. CNWIX charges 1.05%/yr vs 0.04%/yr for EAD.

Performance

CNWIX vs. EAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Evolving World Growth Fund Class I (CNWIX) and Emerging Markets Dividend Fund (EAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNWIX achieves a 50.26% return, which is significantly higher than EAD's -0.79% return. Over the past 10 years, CNWIX has outperformed EAD with an annualized return of 12.35%, while EAD has yielded a comparatively lower 7.31% annualized return.

CNWIX

• 1D: 5.12%
• 1M: 7.78%
• YTD: 50.26%
• 6M: 52.86%
• 1Y: 67.91%
• 3Y*: 27.70%
• 5Y*: 9.23%
• 10Y*: 12.35%

EAD

• 1D: 0.16%
• 1M: -0.56%
• YTD: -0.79%
• 6M: -0.93%
• 1Y: 2.08%
• 3Y*: 10.42%
• 5Y*: 3.04%
• 10Y*: 7.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNWIX vs. EAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNWIX Calamos Evolving World Growth Fund Class I	50.26%	19.29%	14.99%	6.60%	-24.35%	-4.70%	54.23%	20.76%	-17.74%	36.97%
EAD Emerging Markets Dividend Fund	-0.79%	8.05%	15.86%	11.94%	-23.08%	21.62%	6.35%	27.22%	-6.52%	7.80%

Correlation

The correlation between CNWIX and EAD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Aug 18, 2008	0.40

Return for Risk

CNWIX vs. EAD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNWIX

CNWIX Risk / Return Rank: 81
CNWIX Sharpe Ratio Rank: 86
CNWIX Sortino Ratio Rank: 67
CNWIX Omega Ratio Rank: 80
CNWIX Calmar Ratio Rank: 89
CNWIX Martin Ratio Rank: 83

EAD

EAD Risk / Return Rank: 4
EAD Sharpe Ratio Rank: 4
EAD Sortino Ratio Rank: 4
EAD Omega Ratio Rank: 4
EAD Calmar Ratio Rank: 4
EAD Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNWIX vs. EAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Evolving World Growth Fund Class I (CNWIX) and Emerging Markets Dividend Fund (EAD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CNWIX	EAD	Difference
Sharpe ratio: Return per unit of total volatility	2.59	0.22	+2.37
Sortino ratio: Return per unit of downside risk	3.11	0.40	+2.72
Omega ratio: Gain probability vs. loss probability	1.48	1.05	+0.43
Calmar ratio: Return relative to maximum drawdown	4.15	0.26	+3.89
Martin ratio: Return relative to average drawdown	14.45	0.96	+13.49

CNWIX vs. EAD - Sharpe Ratio Comparison

The current CNWIX Sharpe Ratio is 2.59, which is higher than the EAD Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of CNWIX and EAD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNWIX vs. EAD - Drawdown Comparison

The maximum CNWIX drawdown since its inception was -43.57%, smaller than the maximum EAD drawdown of -67.37%. Use the drawdown chart below to compare losses from any high point for CNWIX and EAD.

Drawdown Indicators

	CNWIX	EAD	Difference
Max Drawdown Largest peak-to-trough decline	-43.57%	-67.37%	+23.80%
Max Drawdown (1Y) Largest decline over 1 year	-16.28%	-8.16%	-8.12%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-12.65%	-6.69%
Max Drawdown (5Y) Largest decline over 5 years	-37.36%	-29.44%	-7.92%
Max Drawdown (10Y) Largest decline over 10 years	-43.57%	-41.54%	-2.03%
Current Drawdown Current decline from peak	-0.55%	-3.47%	+2.92%
Average Drawdown Average peak-to-trough decline	-16.40%	-7.14%	-9.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	2.17%	+2.49%

Volatility

CNWIX vs. EAD - Volatility Comparison

Calamos Evolving World Growth Fund Class I (CNWIX) has a higher volatility of 14.11% compared to Emerging Markets Dividend Fund (EAD) at 2.34%. This indicates that CNWIX's price experiences larger fluctuations and is considered to be riskier than EAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNWIX	EAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.11%	2.34%	+11.77%
Volatility (6M) Calculated over the trailing 6-month period	23.68%	7.45%	+16.23%
Volatility (1Y) Calculated over the trailing 1-year period	26.07%	9.42%	+16.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	13.60%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.76%	16.14%	+8.62%

CNWIX vs. EAD - Expense Ratio Comparison

CNWIX has a 1.05% expense ratio, which is higher than EAD's 0.04% expense ratio.

Dividends

CNWIX vs. EAD - Dividend Comparison

CNWIX's dividend yield for the trailing twelve months is around 0.04%, less than EAD's 10.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNWIX Calamos Evolving World Growth Fund Class I	0.04%	0.06%	0.00%	0.54%	0.97%	2.79%	2.01%	1.04%	0.00%	0.42%	0.00%	0.38%
EAD Emerging Markets Dividend Fund	10.01%	9.47%	9.08%	9.07%	10.97%	7.59%	8.51%	8.44%	9.11%	8.58%	9.62%	10.95%

Frequently Asked Questions

Can I hold both CNWIX and EAD in my portfolio?

CNWIX and EAD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNWIX or EAD?

CNWIX has higher volatility (14.11%) compared to EAD (2.34%). In terms of maximum drawdown, CNWIX dropped -43.57% vs EAD's -67.37%.

Which has better risk-adjusted returns?

CNWIX currently has the higher Sharpe Ratio (2.59 vs 0.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.