CSGIX vs. ALOIX

Last updated Aug 1, 2026

CSGIX (Calamos International Small Cap Growth Fund) and ALOIX (Virtus International Small-Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 3 years, CSGIX returned 15.44%/yr vs 17.80%/yr for ALOIX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. CSGIX charges 2.67%/yr vs 1.04%/yr for ALOIX.

Performance

CSGIX vs. ALOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos International Small Cap Growth Fund (CSGIX) and Virtus International Small-Cap Fund (ALOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSGIX achieves a 13.20% return, which is significantly lower than ALOIX's 14.50% return.

CSGIX

• 1D: 2.08%
• 1M: -10.32%
• 6M: 2.65%
• YTD: 13.20%
• 1Y: 9.09%
• 3Y*: 15.44%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.30%

ALOIX

• 1D: 2.43%
• 1M: 0.54%
• 6M: 6.90%
• YTD: 14.50%
• 1Y: 32.78%
• 3Y*: 17.80%
• 5Y*: 6.36%
• 10Y*: 8.18%
• ALL TIME*: 6.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ALOIX Virtus International Small-Cap Fund	$0.00	$0.00	$0.00
CSGIX Calamos International Small Cap Growth Fund	$0.00	$0.00	$0.00

CSGIX vs. ALOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CSGIX Calamos International Small Cap Growth Fund	13.20%	15.11%	10.21%	13.62%	-20.14%
ALOIX Virtus International Small-Cap Fund	14.50%	36.22%	2.65%	19.43%	-15.71%

Correlation

The correlation between CSGIX and ALOIX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Mar 31, 2022	0.79

The correlation between CSGIX and ALOIX has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.

Return for Risk

CSGIX vs. ALOIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CSGIX

CSGIX Risk / Return Rank: 11
CSGIX Sharpe Ratio Rank: 11
CSGIX Sortino Ratio Rank: 11
CSGIX Omega Ratio Rank: 12
CSGIX Calmar Ratio Rank: 10
CSGIX Martin Ratio Rank: 11

ALOIX

ALOIX Risk / Return Rank: 88
ALOIX Sharpe Ratio Rank: 92
ALOIX Sortino Ratio Rank: 87
ALOIX Omega Ratio Rank: 85
ALOIX Calmar Ratio Rank: 89
ALOIX Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CSGIX vs. ALOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos International Small Cap Growth Fund (CSGIX) and Virtus International Small-Cap Fund (ALOIX). 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.

	CSGIX	ALOIX	Difference
Sharpe ratio: Return per unit of total volatility	0.43	2.35	-1.92
Sortino ratio: Return per unit of downside risk	0.73	3.16	-2.43
Omega ratio: Gain probability vs. loss probability	1.09	1.42	-0.33
Calmar ratio: Return relative to maximum drawdown	0.49	3.27	-2.78
Martin ratio: Return relative to average drawdown	1.43	11.69	-10.26

CSGIX vs. ALOIX - Sharpe Ratio Comparison

The current CSGIX Sharpe Ratio is 0.43, which is lower than the ALOIX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of CSGIX and ALOIX, 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

CSGIX vs. ALOIX - Drawdown Comparison

The maximum CSGIX drawdown since its inception was -26.50%, smaller than the maximum ALOIX drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for CSGIX and ALOIX.

Drawdown Indicators

	CSGIX	ALOIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.50%	-79.29%	+52.79%
Max Drawdown (1Y) Largest decline over 1 year	-19.95%	-10.07%	-9.88%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-14.03%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-39.41%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.79%	—
Current Drawdown Current decline from peak	-18.29%	-1.05%	-17.24%
Average Drawdown Average peak-to-trough decline	-10.25%	-34.68%	+24.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.81%	2.81%	+4.00%

Volatility

CSGIX vs. ALOIX - Volatility Comparison

Calamos International Small Cap Growth Fund (CSGIX) has a higher volatility of 7.71% compared to Virtus International Small-Cap Fund (ALOIX) at 5.02%. This indicates that CSGIX's price experiences larger fluctuations and is considered to be riskier than ALOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSGIX	ALOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	5.02%	+2.69%
Volatility (6M) Calculated over the trailing 6-month period	20.34%	11.91%	+8.43%
Volatility (1Y) Calculated over the trailing 1-year period	22.57%	13.99%	+8.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	15.11%	+3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	16.44%	+1.87%

CSGIX vs. ALOIX - Expense Ratio Comparison

CSGIX has a 2.67% expense ratio, which is higher than ALOIX's 1.04% expense ratio.

Dividends

CSGIX vs. ALOIX - Dividend Comparison

CSGIX's dividend yield for the trailing twelve months is around 1.08%, less than ALOIX's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALOIX Virtus International Small-Cap Fund	3.96%	4.54%	3.50%	4.93%	1.25%	19.08%	1.38%	1.62%	18.17%	1.52%	1.04%	0.54%
CSGIX Calamos International Small Cap Growth Fund	1.08%	1.22%	0.00%	0.00%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSGIX and ALOIX in my portfolio?

CSGIX and ALOIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSGIX or ALOIX?

CSGIX has higher volatility (7.71%) compared to ALOIX (5.02%). In terms of maximum drawdown, CSGIX dropped -26.50% vs ALOIX's -79.29%.

Which has better risk-adjusted returns?

ALOIX currently has the higher Sharpe Ratio (2.35 vs 0.43), 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.