CTSIX vs. BCSSX

Last updated Jun 24, 2026

CTSIX (Calamos Timpani Small Cap Growth Fund) and BCSSX (Brown Capital Management Small Company Fund Institutional Shares) are both Small Cap Growth Equities funds. Over the past 5 years, CTSIX returned 10.12%/yr vs -8.10%/yr for BCSSX. A 0.79 correlation means they provide meaningful diversification when combined. CTSIX charges 1.05%/yr vs 1.12%/yr for BCSSX.

Performance

CTSIX vs. BCSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Timpani Small Cap Growth Fund (CTSIX) and Brown Capital Management Small Company Fund Institutional Shares (BCSSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTSIX achieves a 37.63% return, which is significantly higher than BCSSX's -6.62% return.

CTSIX

• 1D: 0.66%
• 1M: 6.42%
• YTD: 37.63%
• 6M: 34.34%
• 1Y: 67.96%
• 3Y*: 35.10%
• 5Y*: 10.12%
• 10Y*: —

BCSSX

• 1D: -1.11%
• 1M: 1.81%
• YTD: -6.62%
• 6M: -9.19%
• 1Y: -8.02%
• 3Y*: -1.62%
• 5Y*: -8.10%
• 10Y*: 5.56%

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

CTSIX vs. BCSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CTSIX Calamos Timpani Small Cap Growth Fund	37.63%	25.90%	44.34%	7.57%	-37.30%	9.12%	63.38%	1.20%
BCSSX Brown Capital Management Small Company Fund Institutional Shares	-6.62%	-12.18%	10.05%	19.40%	-37.77%	-4.06%	45.51%	4.93%

Correlation

The correlation between CTSIX and BCSSX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 10, 2019	0.79

Over the past year, the correlation between CTSIX and BCSSX has dropped to 0.50 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

CTSIX vs. BCSSX — Risk / Return Rank

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

CTSIX

CTSIX Risk / Return Rank: 79
CTSIX Sharpe Ratio Rank: 80
CTSIX Sortino Ratio Rank: 63
CTSIX Omega Ratio Rank: 60
CTSIX Calmar Ratio Rank: 96
CTSIX Martin Ratio Rank: 96

BCSSX

BCSSX Risk / Return Rank: 2
BCSSX Sharpe Ratio Rank: 2
BCSSX Sortino Ratio Rank: 2
BCSSX Omega Ratio Rank: 2
BCSSX Calmar Ratio Rank: 2
BCSSX Martin Ratio Rank: 2

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.

CTSIX vs. BCSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Timpani Small Cap Growth Fund (CTSIX) and Brown Capital Management Small Company Fund Institutional Shares (BCSSX). 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.

	CTSIX	BCSSX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	-0.32	+2.75
Sortino ratio: Return per unit of downside risk	3.03	-0.31	+3.34
Omega ratio: Gain probability vs. loss probability	1.39	0.96	+0.43
Calmar ratio: Return relative to maximum drawdown	5.75	-0.27	+6.02
Martin ratio: Return relative to average drawdown	22.69	-0.62	+23.31

CTSIX vs. BCSSX - Sharpe Ratio Comparison

The current CTSIX Sharpe Ratio is 2.43, which is higher than the BCSSX Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of CTSIX and BCSSX, 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

CTSIX vs. BCSSX - Drawdown Comparison

The maximum CTSIX drawdown since its inception was -50.83%, smaller than the maximum BCSSX drawdown of -55.58%. Use the drawdown chart below to compare losses from any high point for CTSIX and BCSSX.

Drawdown Indicators

	CTSIX	BCSSX	Difference
Max Drawdown Largest peak-to-trough decline	-50.83%	-55.58%	+4.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-26.75%	+14.37%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	-55.58%	+27.18%
Max Drawdown (5Y) Largest decline over 5 years	-50.60%	-55.58%	+4.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-55.58%	—
Current Drawdown Current decline from peak	0.00%	-46.54%	+46.54%
Average Drawdown Average peak-to-trough decline	-20.49%	-15.94%	-4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	11.59%	-8.46%

Volatility

CTSIX vs. BCSSX - Volatility Comparison

Calamos Timpani Small Cap Growth Fund (CTSIX) has a higher volatility of 11.67% compared to Brown Capital Management Small Company Fund Institutional Shares (BCSSX) at 6.11%. This indicates that CTSIX's price experiences larger fluctuations and is considered to be riskier than BCSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTSIX	BCSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.67%	6.11%	+5.56%
Volatility (6M) Calculated over the trailing 6-month period	23.15%	17.63%	+5.52%
Volatility (1Y) Calculated over the trailing 1-year period	29.38%	22.54%	+6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.33%	37.40%	-9.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.92%	31.35%	-1.43%

CTSIX vs. BCSSX - Expense Ratio Comparison

CTSIX has a 1.05% expense ratio, which is lower than BCSSX's 1.12% expense ratio.

Dividends

CTSIX vs. BCSSX - Dividend Comparison

CTSIX has not paid dividends to shareholders, while BCSSX's dividend yield for the trailing twelve months is around 102.05%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCSSX Brown Capital Management Small Company Fund Institutional Shares	102.05%	95.29%	49.47%	8.99%	11.63%	9.04%	7.27%	8.43%	6.72%	5.85%	5.48%	9.07%
CTSIX Calamos Timpani Small Cap Growth Fund	0.00%	0.00%	2.58%	0.00%	0.00%	0.00%	3.77%	4.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CTSIX and BCSSX in my portfolio?

CTSIX and BCSSX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTSIX or BCSSX?

CTSIX has higher volatility (11.67%) compared to BCSSX (6.11%). In terms of maximum drawdown, CTSIX dropped -50.83% vs BCSSX's -55.58%.

Which has better risk-adjusted returns?

CTSIX currently has the higher Sharpe Ratio (2.43 vs -0.32), 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.