CNWIX vs. SIVLX

Last updated Jun 4, 2026

CNWIX (Calamos Evolving World Growth Fund Class I) and SIVLX (Seafarer Overseas Value Fund Institutional Class) are both Emerging Markets Equities funds. Over the past 5 years, CNWIX returned 8.94%/yr vs 9.97%/yr for SIVLX. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 1.05% expense ratio.

Performance

CNWIX vs. SIVLX - Performance Comparison

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

Returns By Period

In the year-to-date period, CNWIX achieves a 51.09% return, which is significantly higher than SIVLX's 9.13% return.

CNWIX

• 1D: 1.17%
• 1M: 14.41%
• YTD: 51.09%
• 6M: 54.41%
• 1Y: 72.44%
• 3Y*: 29.77%
• 5Y*: 8.94%
• 10Y*: 12.33%

SIVLX

• 1D: -0.43%
• 1M: -0.91%
• YTD: 9.13%
• 6M: 9.89%
• 1Y: 29.21%
• 3Y*: 15.96%
• 5Y*: 9.97%
• 10Y*: —

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

CNWIX vs. SIVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNWIX Calamos Evolving World Growth Fund Class I	51.09%	19.29%	14.99%	6.60%	-24.35%	-4.70%	54.23%	20.76%	-17.74%	35.64%
SIVLX Seafarer Overseas Value Fund Institutional Class	9.13%	37.79%	-3.34%	13.38%	-0.74%	10.05%	4.05%	21.98%	-13.91%	23.02%

Correlation

The correlation between CNWIX and SIVLX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.70

The correlation between CNWIX and SIVLX has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

Return for Risk

CNWIX vs. SIVLX — Risk / Return Rank

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

CNWIX

CNWIX Risk / Return Rank: 86
CNWIX Sharpe Ratio Rank: 93
CNWIX Sortino Ratio Rank: 80
CNWIX Omega Ratio Rank: 84
CNWIX Calmar Ratio Rank: 89
CNWIX Martin Ratio Rank: 86

SIVLX

SIVLX Risk / Return Rank: 57
SIVLX Sharpe Ratio Rank: 71
SIVLX Sortino Ratio Rank: 64
SIVLX Omega Ratio Rank: 75
SIVLX Calmar Ratio Rank: 39
SIVLX Martin Ratio Rank: 36

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. SIVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Evolving World Growth Fund Class I (CNWIX) and Seafarer Overseas Value Fund Institutional Class (SIVLX). 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.

	CNWIX	SIVLX	Difference
Sharpe ratio: Return per unit of total volatility	3.17	2.46	+0.71
Sortino ratio: Return per unit of downside risk	3.79	3.36	+0.43
Omega ratio: Gain probability vs. loss probability	1.57	1.49	+0.08
Calmar ratio: Return relative to maximum drawdown	4.48	2.37	+2.11
Martin ratio: Return relative to average drawdown	16.56	7.92	+8.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNWIX vs. SIVLX - Sharpe Ratio Comparison

The current CNWIX Sharpe Ratio is 3.17, which is comparable to the SIVLX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of CNWIX and SIVLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNWIX	SIVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.17	2.46	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.85	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.78	-0.42

Drawdowns

CNWIX vs. SIVLX - Drawdown Comparison

The maximum CNWIX drawdown since its inception was -43.57%, which is greater than SIVLX's maximum drawdown of -33.09%. Use the drawdown chart below to compare losses from any high point for CNWIX and SIVLX.

Drawdown Indicators

	CNWIX	SIVLX	Difference
Max Drawdown Largest peak-to-trough decline	-43.57%	-33.09%	-10.48%
Max Drawdown (1Y) Largest decline over 1 year	-16.28%	-12.51%	-3.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-12.51%	-6.83%
Max Drawdown (5Y) Largest decline over 5 years	-37.36%	-16.39%	-20.97%
Max Drawdown (10Y) Largest decline over 10 years	-43.57%	—	—
Current Drawdown Current decline from peak	0.00%	-5.80%	+5.80%
Average Drawdown Average peak-to-trough decline	-16.43%	-5.60%	-10.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	3.73%	+0.66%

Volatility

CNWIX vs. SIVLX - Volatility Comparison

Calamos Evolving World Growth Fund Class I (CNWIX) has a higher volatility of 10.53% compared to Seafarer Overseas Value Fund Institutional Class (SIVLX) at 3.81%. This indicates that CNWIX's price experiences larger fluctuations and is considered to be riskier than SIVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNWIX	SIVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.53%	3.81%	+6.72%
Volatility (6M) Calculated over the trailing 6-month period	20.15%	10.37%	+9.78%
Volatility (1Y) Calculated over the trailing 1-year period	22.99%	12.04%	+10.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.45%	11.75%	+6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.47%	12.60%	+11.87%

CNWIX vs. SIVLX - Expense Ratio Comparison

Both CNWIX and SIVLX have an expense ratio of 1.05%.

Dividends

CNWIX vs. SIVLX - Dividend Comparison

CNWIX's dividend yield for the trailing twelve months is around 0.04%, less than SIVLX's 4.63% 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%
SIVLX Seafarer Overseas Value Fund Institutional Class	4.63%	5.05%	4.23%	2.93%	1.70%	3.56%	1.38%	3.06%	3.30%	3.41%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNWIX and SIVLX in my portfolio?

CNWIX and SIVLX have a correlation of 0.64, 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 SIVLX?

CNWIX has higher volatility (10.53%) compared to SIVLX (3.81%). In terms of maximum drawdown, CNWIX dropped -43.57% vs SIVLX's -33.09%.

Which has better risk-adjusted returns?

CNWIX currently has the higher Sharpe Ratio (3.17 vs 2.46), 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.