CVRT vs. SROI

Last updated Aug 1, 2026

CVRT (Calamos Convertible Equity Alternative ETF) and SROI (Calamos Antetokounmpo Global Sustainable Equities ETF) are both exchange-traded funds - CVRT is a Convertible Bonds fund actively managed by Calamos, while SROI is a Global Equities fund actively managed by Calamos. Both are actively managed. Over the past year, CVRT returned 46.88% vs 19.56% for SROI. Their 0.73 correlation means they have sometimes moved together and sometimes differently. CVRT charges 0.69%/yr vs 0.95%/yr for SROI.

Performance

CVRT vs. SROI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible Equity Alternative ETF (CVRT) and Calamos Antetokounmpo Global Sustainable Equities ETF (SROI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVRT achieves a 25.14% return, which is significantly higher than SROI's 11.11% return.

CVRT

• 1D: 0.21%
• 1M: -3.61%
• 6M: 16.26%
• YTD: 25.14%
• 1Y: 46.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.80%

SROI

• 1D: 0.43%
• 1M: 0.39%
• 6M: 8.09%
• YTD: 11.11%
• 1Y: 19.56%
• 3Y*: 12.91%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.29%

*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)
CVRT Calamos Convertible Equity Alternative ETF	$320.90K	$427.43K	$464.23K
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	$10.82K	$14.42K	$19.15K

CVRT vs. SROI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVRT Calamos Convertible Equity Alternative ETF	25.14%	29.37%	13.23%	11.44%
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	11.11%	16.36%	9.48%	14.17%

Correlation

The correlation between CVRT and SROI is 0.71, 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.	0.71
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023	0.73

The correlation between CVRT and SROI has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

Return for Risk

CVRT vs. SROI — Risk / Return Rank

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

CVRT

CVRT Risk / Return Rank: 78
CVRT Sharpe Ratio Rank: 80
CVRT Sortino Ratio Rank: 76
CVRT Omega Ratio Rank: 75
CVRT Calmar Ratio Rank: 78
CVRT Martin Ratio Rank: 82

SROI

SROI Risk / Return Rank: 53
SROI Sharpe Ratio Rank: 52
SROI Sortino Ratio Rank: 52
SROI Omega Ratio Rank: 50
SROI Calmar Ratio Rank: 50
SROI Martin Ratio Rank: 62

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.

CVRT vs. SROI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Equity Alternative ETF (CVRT) and Calamos Antetokounmpo Global Sustainable Equities ETF (SROI). 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.

	CVRT	SROI	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.27	+0.57
Sortino ratio: Return per unit of downside risk	2.44	1.85	+0.59
Omega ratio: Gain probability vs. loss probability	1.31	1.23	+0.08
Calmar ratio: Return relative to maximum drawdown	2.80	1.82	+0.99
Martin ratio: Return relative to average drawdown	10.73	7.54	+3.19

CVRT vs. SROI - Sharpe Ratio Comparison

The current CVRT Sharpe Ratio is 1.84, which is higher than the SROI Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of CVRT and SROI, 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

CVRT vs. SROI - Drawdown Comparison

The maximum CVRT drawdown since its inception was -20.71%, which is greater than SROI's maximum drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for CVRT and SROI.

Drawdown Indicators

	CVRT	SROI	Difference
Max Drawdown Largest peak-to-trough decline	-20.71%	-15.38%	-5.33%
Max Drawdown (1Y) Largest decline over 1 year	-15.77%	-10.19%	-5.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.38%	—
Current Drawdown Current decline from peak	-12.25%	-0.75%	-11.50%
Average Drawdown Average peak-to-trough decline	-3.34%	-2.39%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	2.45%	+1.67%

Volatility

CVRT vs. SROI - Volatility Comparison

Calamos Convertible Equity Alternative ETF (CVRT) has a higher volatility of 7.93% compared to Calamos Antetokounmpo Global Sustainable Equities ETF (SROI) at 4.13%. This indicates that CVRT's price experiences larger fluctuations and is considered to be riskier than SROI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVRT	SROI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.93%	4.13%	+3.80%
Volatility (6M) Calculated over the trailing 6-month period	19.78%	12.24%	+7.54%
Volatility (1Y) Calculated over the trailing 1-year period	24.03%	14.55%	+9.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	14.04%	+6.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	14.04%	+6.51%

CVRT vs. SROI - Expense Ratio Comparison

CVRT has a 0.69% expense ratio, which is lower than SROI's 0.95% expense ratio.

Dividends

CVRT vs. SROI - Dividend Comparison

CVRT's dividend yield for the trailing twelve months is around 1.58%, more than SROI's 0.54% yield.

Position	TTM	2025	2024	2023
CVRT Calamos Convertible Equity Alternative ETF	1.45%	1.68%	1.49%	0.32%
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	0.54%	0.60%	0.68%	0.94%

Frequently Asked Questions

Can I hold both CVRT and SROI in my portfolio?

CVRT and SROI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVRT or SROI?

CVRT has higher volatility (7.93%) compared to SROI (4.13%). In terms of maximum drawdown, CVRT dropped -20.71% vs SROI's -15.38%.

Which ETF is better, CVRT or SROI?

On 1-year performance, CVRT leads with 46.88% vs 19.56% for SROI. On fees, CVRT is cheaper at 0.69% per year. On volatility, SROI has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVRT or SROI?

Over the 1-year period, CVRT has performed better with a 46.88% return vs 19.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVRT or SROI?

CVRT is cheaper with a 0.69% expense ratio, compared with 0.95% for SROI.

Which ETF pays a higher dividend yield, CVRT or SROI?

CVRT has the higher dividend yield at 1.45%, compared with 0.54% for SROI.

What is the main difference between CVRT and SROI?

CVRT is categorized as Convertible Bonds, while SROI is Global Equities. Their fees differ too: 0.69% for CVRT and 0.95% for SROI.

Which has better risk-adjusted returns?

CVRT currently has the higher Sharpe Ratio (1.84 vs 1.27), 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.