CVGRX vs. CHI
CVGRX (Calamos Growth Fund) and CHI (Calamos Convertible Opportunities and Income Fund) are both mutual funds - CVGRX is a Large Cap Growth Equities fund managed by Calamos, while CHI is a Convertible Bonds fund actively managed by Calamos. Over the past 10 years, CVGRX returned 14.72%/yr vs 13.46%/yr for CHI. At a 0.47 correlation, their price movements are largely independent. CVGRX charges 1.28%/yr vs 0.88%/yr for CHI.
Performance
CVGRX vs. CHI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CVGRX achieves a 4.67% return, which is significantly lower than CHI's 28.82% return. Over the past 10 years, CVGRX has outperformed CHI with an annualized return of 14.72%, while CHI has yielded a comparatively lower 13.46% annualized return.
CVGRX
- 1D
- -2.17%
- 1M
- -2.69%
- YTD
- 4.67%
- 6M
- 3.25%
- 1Y
- 17.17%
- 3Y*
- 20.97%
- 5Y*
- 10.11%
- 10Y*
- 14.72%
CHI
- 1D
- -0.23%
- 1M
- 4.96%
- YTD
- 28.82%
- 6M
- 24.96%
- 1Y
- 40.44%
- 3Y*
- 17.68%
- 5Y*
- 7.10%
- 10Y*
- 13.46%
CVGRX vs. CHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVGRX Calamos Growth Fund | 4.67% | 16.08% | 32.32% | 37.64% | -33.33% | 23.06% | 32.97% | 31.11% | -6.14% | 26.58% |
CHI Calamos Convertible Opportunities and Income Fund | 28.82% | -2.15% | 27.23% | 9.49% | -23.31% | 20.31% | 33.82% | 35.66% | -12.67% | 22.70% |
Correlation
The correlation between CVGRX and CHI is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2002 | 0.47 |
The correlation between CVGRX and CHI shifts across timeframes, from 0.47 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CVGRX vs. CHI — Risk / Return Rank
CVGRX
CHI
CVGRX vs. CHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Growth Fund (CVGRX) and Calamos Convertible Opportunities and Income Fund (CHI). 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.
| CVGRX | CHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.42 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 3.80 | -2.59 |
| Martin ratioReturn relative to average drawdown | 4.37 | 14.91 | -10.55 |
Loading charts...
Drawdowns
CVGRX vs. CHI - Drawdown Comparison
The maximum CVGRX drawdown since its inception was -61.65%, roughly equal to the maximum CHI drawdown of -64.72%. Use the drawdown chart below to compare losses from any high point for CVGRX and CHI.
Loading charts...
Drawdown Indicators
| CVGRX | CHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.65% | -64.72% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -16.00% | -10.71% | -5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -23.81% | -27.52% | +3.71% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -36.03% | -1.40% |
Max Drawdown (10Y)Largest decline over 10 years | -37.43% | -49.64% | +12.21% |
Current DrawdownCurrent decline from peak | -5.91% | -1.97% | -3.94% |
Average DrawdownAverage peak-to-trough decline | -11.49% | -9.65% | -1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 2.72% | +1.67% |
Volatility
CVGRX vs. CHI - Volatility Comparison
Calamos Growth Fund (CVGRX) has a higher volatility of 7.32% compared to Calamos Convertible Opportunities and Income Fund (CHI) at 5.38%. This indicates that CVGRX's price experiences larger fluctuations and is considered to be riskier than CHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CVGRX | CHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 5.38% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 13.80% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 17.22% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.00% | 20.15% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 23.21% | -1.54% |
CVGRX vs. CHI - Expense Ratio Comparison
CVGRX has a 1.28% expense ratio, which is higher than CHI's 0.88% expense ratio.
Dividends
CVGRX vs. CHI - Dividend Comparison
CVGRX's dividend yield for the trailing twelve months is around 8.42%, less than CHI's 8.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHI Calamos Convertible Opportunities and Income Fund | 8.79% | 10.88% | 9.55% | 11.00% | 10.85% | 7.54% | 6.75% | 8.49% | 12.19% | 10.19% | 11.30% | 11.50% |
CVGRX Calamos Growth Fund | 8.42% | 8.81% | 6.66% | 4.48% | 0.00% | 12.17% | 11.25% | 9.71% | 16.86% | 13.75% | 4.12% | 35.24% |
Frequently Asked Questions
CVGRX and CHI have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVGRX has higher volatility (7.32%) compared to CHI (5.38%). In terms of maximum drawdown, CVGRX dropped -61.65% vs CHI's -64.72%.
CHI currently has the higher Sharpe Ratio (2.36 vs 1.09), 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.
Find the right allocation for CVGRX and CHI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer