CPLIX vs. VMNIX
Compare and contrast key facts about Calamos Phineus Long/Short Fund (CPLIX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX).
CPLIX is managed by Calamos. It was launched on Apr 4, 2016. VMNIX is managed by Vanguard. It was launched on Oct 19, 1998.
Performance
CPLIX vs. VMNIX - Performance Comparison
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CPLIX vs. VMNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPLIX Calamos Phineus Long/Short Fund | -3.56% | 9.89% | 8.89% | 8.04% | -0.96% | 7.52% | 19.81% | 3.97% | -5.96% | 9.22% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 5.62% | 9.36% | 5.84% | 12.33% | 13.47% | 23.39% | -11.58% | -9.48% | 0.66% | -4.83% |
Returns By Period
In the year-to-date period, CPLIX achieves a -3.56% return, which is significantly lower than VMNIX's 5.62% return.
CPLIX
- 1D
- 1.06%
- 1M
- -3.73%
- YTD
- -3.56%
- 6M
- -4.67%
- 1Y
- 4.75%
- 3Y*
- 6.85%
- 5Y*
- 3.24%
- 10Y*
- —
VMNIX
- 1D
- -0.47%
- 1M
- 2.96%
- YTD
- 5.62%
- 6M
- 8.54%
- 1Y
- 15.19%
- 3Y*
- 11.63%
- 5Y*
- 12.42%
- 10Y*
- 4.01%
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CPLIX vs. VMNIX - Expense Ratio Comparison
CPLIX has a 1.38% expense ratio, which is higher than VMNIX's 1.25% expense ratio.
Return for Risk
CPLIX vs. VMNIX — Risk / Return Rank
CPLIX
VMNIX
CPLIX vs. VMNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Phineus Long/Short Fund (CPLIX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX). 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.
| CPLIX | VMNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 2.06 | -1.52 |
Sortino ratioReturn per unit of downside risk | 0.87 | 3.04 | -2.17 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.37 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 0.54 | 3.25 | -2.71 |
Martin ratioReturn relative to average drawdown | 1.70 | 9.26 | -7.56 |
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
| CPLIX | VMNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 2.06 | -1.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 1.74 | -1.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.31 | +0.16 |
Correlation
The correlation between CPLIX and VMNIX is 0.03, 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
CPLIX vs. VMNIX - Dividend Comparison
CPLIX's dividend yield for the trailing twelve months is around 5.73%, more than VMNIX's 3.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPLIX Calamos Phineus Long/Short Fund | 5.73% | 5.52% | 6.90% | 1.86% | 0.03% | 0.00% | 0.00% | 0.43% | 3.88% | 1.21% | 0.85% | 0.00% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 3.38% | 3.59% | 5.67% | 5.15% | 0.78% | 0.20% | 0.86% | 3.23% | 1.00% | 1.16% | 0.45% | 0.10% |
Drawdowns
CPLIX vs. VMNIX - Drawdown Comparison
The maximum CPLIX drawdown since its inception was -33.71%, which is greater than VMNIX's maximum drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for CPLIX and VMNIX.
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Drawdown Indicators
| CPLIX | VMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.71% | -27.90% | -5.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -4.95% | -3.78% |
Max Drawdown (5Y)Largest decline over 5 years | -18.28% | -6.69% | -11.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.95% | — |
Current DrawdownCurrent decline from peak | -7.77% | -0.47% | -7.30% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -8.82% | +4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 1.73% | +1.03% |
Volatility
CPLIX vs. VMNIX - Volatility Comparison
Calamos Phineus Long/Short Fund (CPLIX) has a higher volatility of 3.13% compared to Vanguard Market Neutral Fund Institutional Shares (VMNIX) at 1.57%. This indicates that CPLIX's price experiences larger fluctuations and is considered to be riskier than VMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPLIX | VMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 1.57% | +1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 6.16% | 5.76% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.42% | 7.60% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.27% | 7.19% | +5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.26% | 6.35% | +8.91% |