CVGRX vs. ITOT
CVGRX (Calamos Growth Fund) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both funds - CVGRX is a Large Cap Growth Equities fund managed by Calamos, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Over the past 10 years, CVGRX returned 14.72%/yr vs 15.10%/yr for ITOT. Their correlation of 0.91 suggests significant overlap in exposure. CVGRX charges 1.28%/yr vs 0.03%/yr for ITOT.
Performance
CVGRX vs. ITOT - Performance Comparison
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Returns By Period
In the year-to-date period, CVGRX achieves a 4.67% return, which is significantly lower than ITOT's 8.86% return. Both investments have delivered pretty close results over the past 10 years, with CVGRX having a 14.72% annualized return and ITOT not far ahead at 15.10%.
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%
ITOT
- 1D
- -0.07%
- 1M
- -0.87%
- YTD
- 8.86%
- 6M
- 7.40%
- 1Y
- 22.71%
- 3Y*
- 20.64%
- 5Y*
- 11.83%
- 10Y*
- 15.10%
CVGRX vs. ITOT - 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% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 8.86% | 17.00% | 23.80% | 26.12% | -19.47% | 25.68% | 20.71% | 30.67% | -5.33% | 21.37% |
Correlation
The correlation between CVGRX and ITOT is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2004 | 0.91 |
The correlation between CVGRX and ITOT has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
CVGRX vs. ITOT — Risk / Return Rank
CVGRX
ITOT
CVGRX vs. ITOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Growth Fund (CVGRX) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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 | ITOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 2.56 | -1.36 |
| Martin ratioReturn relative to average drawdown | 4.37 | 11.32 | -6.95 |
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Drawdowns
CVGRX vs. ITOT - Drawdown Comparison
The maximum CVGRX drawdown since its inception was -61.65%, which is greater than ITOT's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for CVGRX and ITOT.
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Drawdown Indicators
| CVGRX | ITOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.65% | -55.20% | -6.45% |
Max Drawdown (1Y)Largest decline over 1 year | -16.00% | -8.90% | -7.10% |
Max Drawdown (3Y)Largest decline over 3 years | -23.81% | -19.44% | -4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -25.36% | -12.07% |
Max Drawdown (10Y)Largest decline over 10 years | -37.43% | -35.00% | -2.43% |
Current DrawdownCurrent decline from peak | -5.91% | -2.86% | -3.05% |
Average DrawdownAverage peak-to-trough decline | -11.49% | -6.96% | -4.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 2.01% | +2.38% |
Volatility
CVGRX vs. ITOT - Volatility Comparison
Calamos Growth Fund (CVGRX) has a higher volatility of 7.32% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 4.93%. This indicates that CVGRX's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVGRX | ITOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 4.93% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 10.02% | +4.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 12.82% | +4.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.00% | 17.46% | +4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 18.28% | +3.39% |
CVGRX vs. ITOT - Expense Ratio Comparison
CVGRX has a 1.28% expense ratio, which is higher than ITOT's 0.03% expense ratio.
Dividends
CVGRX vs. ITOT - Dividend Comparison
CVGRX's dividend yield for the trailing twelve months is around 8.42%, more than ITOT's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 1.02% | 1.11% | 1.23% | 1.47% | 1.66% | 1.18% | 1.41% | 1.88% | 2.14% | 1.69% | 1.83% | 2.01% |
Frequently Asked Questions
With a correlation of 0.92, CVGRX and ITOT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CVGRX has higher volatility (7.32%) compared to ITOT (4.93%). In terms of maximum drawdown, CVGRX dropped -61.65% vs ITOT's -55.20%.
ITOT currently has the higher Sharpe Ratio (1.79 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.
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