CPLIX vs. WAYEX
CPLIX (Calamos Phineus Long/Short Fund) and WAYEX (Waycross Long/Short Equity Fund) are both Long-Short funds. Over the past 10 years, CPLIX returned 7.71%/yr vs 9.46%/yr for WAYEX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. CPLIX charges 1.38%/yr vs 2.27%/yr for WAYEX.
Performance
CPLIX vs. WAYEX - Performance Comparison
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Returns By Period
In the year-to-date period, CPLIX achieves a 3.50% return, which is significantly higher than WAYEX's -1.11% return. Over the past 10 years, CPLIX has underperformed WAYEX with an annualized return of 7.71%, while WAYEX has yielded a comparatively higher 9.46% annualized return.
CPLIX
- 1D
- 0.58%
- 1M
- 1.33%
- 6M
- 2.59%
- YTD
- 3.50%
- 1Y
- 2.93%
- 3Y*
- 7.43%
- 5Y*
- 5.48%
- 10Y*
- 7.71%
- ALL TIME*
- 7.64%
WAYEX
- 1D
- 1.84%
- 1M
- -1.06%
- 6M
- -0.95%
- YTD
- -1.11%
- 1Y
- 4.33%
- 3Y*
- 12.96%
- 5Y*
- 8.18%
- 10Y*
- 9.46%
- ALL TIME*
- 7.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CPLIX vs. WAYEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPLIX Calamos Phineus Long/Short Fund | 3.50% | 9.89% | 8.89% | 8.04% | -0.96% | 7.52% | 19.81% | 3.97% | -5.96% | 9.22% |
WAYEX Waycross Long/Short Equity Fund | -1.11% | 13.16% | 22.40% | 18.99% | -11.66% | 11.43% | 22.27% | 21.17% | -8.80% | 13.05% |
Correlation
The correlation between CPLIX and WAYEX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2016 | 0.51 |
The correlation between CPLIX and WAYEX shifts across timeframes, from 0.27 (3 years) to 0.52 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CPLIX vs. WAYEX — Risk / Return Rank
CPLIX
WAYEX
CPLIX vs. WAYEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Phineus Long/Short Fund (CPLIX) and Waycross Long/Short Equity Fund (WAYEX). 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.
| CPLIX | WAYEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.07 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 0.40 | -0.14 |
| Martin ratioReturn relative to average drawdown | 0.59 | 1.38 | -0.79 |
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Drawdowns
CPLIX vs. WAYEX - Drawdown Comparison
The maximum CPLIX drawdown since its inception was -33.71%, which is greater than WAYEX's maximum drawdown of -20.77%. Use the drawdown chart below to compare losses from any high point for CPLIX and WAYEX.
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Drawdown Indicators
| CPLIX | WAYEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.71% | -20.77% | -12.94% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -8.05% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -8.73% | -10.83% | +2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.28% | -17.31% | -0.97% |
Max Drawdown (10Y)Largest decline over 10 years | -33.71% | -20.77% | -12.94% |
Current DrawdownCurrent decline from peak | -1.02% | -2.74% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -4.10% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 2.31% | +1.53% |
Volatility
CPLIX vs. WAYEX - Volatility Comparison
Calamos Phineus Long/Short Fund (CPLIX) and Waycross Long/Short Equity Fund (WAYEX) have volatilities of 2.93% and 2.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPLIX | WAYEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.85% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.85% | 6.57% | +2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 8.23% | +1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.27% | 10.44% | +1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 11.61% | +3.52% |
CPLIX vs. WAYEX - Expense Ratio Comparison
CPLIX has a 1.38% expense ratio, which is lower than WAYEX's 2.27% expense ratio.
Dividends
CPLIX vs. WAYEX - Dividend Comparison
CPLIX's dividend yield for the trailing twelve months is around 5.34%, which matches WAYEX's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CPLIX Calamos Phineus Long/Short Fund | 5.34% | 5.52% | 6.90% | 1.86% | 0.03% | 0.00% | 0.00% | 0.43% | 3.88% | 1.21% | 0.85% |
WAYEX Waycross Long/Short Equity Fund | 5.35% | 5.29% | 12.41% | 2.86% | 0.00% | 5.33% | 1.17% | 1.05% | 0.00% | 1.01% | 0.00% |
Frequently Asked Questions
CPLIX and WAYEX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPLIX has higher volatility (2.93%) compared to WAYEX (2.85%). In terms of maximum drawdown, CPLIX dropped -33.71% vs WAYEX's -20.77%.
WAYEX currently has the higher Sharpe Ratio (0.39 vs 0.23), 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.
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