CVRT vs. VGWAX

Last updated Apr 1, 2026

Compare and contrast key facts about Calamos Convertible Equity Alternative ETF (CVRT) and Vanguard Global Wellington Fund Admiral Shares (VGWAX).

CVRT is an actively managed fund by Calamos. It was launched on Oct 4, 2023. VGWAX is managed by Vanguard. It was launched on Nov 2, 2017.

Performance

CVRT vs. VGWAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible Equity Alternative ETF (CVRT) and Vanguard Global Wellington Fund Admiral Shares (VGWAX). The values are adjusted to include any dividend payments, if applicable.

CVRT vs. VGWAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVRT Calamos Convertible Equity Alternative ETF	9.28%	29.37%	13.23%	11.02%
VGWAX Vanguard Global Wellington Fund Admiral Shares	1.04%	17.48%	6.27%	9.79%

Returns By Period

In the year-to-date period, CVRT achieves a 9.28% return, which is significantly higher than VGWAX's 1.04% return.

CVRT

• 1D: 3.84%
• 1M: -3.00%
• YTD: 9.28%
• 6M: 15.65%
• 1Y: 47.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGWAX

• 1D: 0.23%
• 1M: -6.46%
• YTD: 1.04%
• 6M: 5.86%
• 1Y: 13.97%
• 3Y*: 11.30%
• 5Y*: 7.50%
• 10Y*: —

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

CVRT vs. VGWAX - Expense Ratio Comparison

CVRT has a 0.69% expense ratio, which is higher than VGWAX's 0.29% expense ratio.

CVRT

Calamos Convertible Equity Alternative ETF

VGWAX

Vanguard Global Wellington Fund Admiral Shares

Return for Risk

CVRT vs. VGWAX — Risk / Return Rank

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

CVRT

CVRT Risk / Return Rank: 93
CVRT Sharpe Ratio Rank: 92
CVRT Sortino Ratio Rank: 92
CVRT Omega Ratio Rank: 91
CVRT Calmar Ratio Rank: 95
CVRT Martin Ratio Rank: 96

VGWAX

VGWAX Risk / Return Rank: 81
VGWAX Sharpe Ratio Rank: 81
VGWAX Sortino Ratio Rank: 81
VGWAX Omega Ratio Rank: 79
VGWAX Calmar Ratio Rank: 82
VGWAX Martin Ratio Rank: 80

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.

CVRT vs. VGWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Equity Alternative ETF (CVRT) and Vanguard Global Wellington Fund Admiral Shares (VGWAX). 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.

	CVRT	VGWAX	Difference
Sharpe ratio Return per unit of total volatility	2.10	1.50	+0.60
Sortino ratio Return per unit of downside risk	2.75	2.05	+0.70
Omega ratio Gain probability vs. loss probability	1.39	1.30	+0.08
Calmar ratio Return relative to maximum drawdown	4.10	1.95	+2.15
Martin ratio Return relative to average drawdown	18.03	7.80	+10.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVRT vs. VGWAX - Sharpe Ratio Comparison

The current CVRT Sharpe Ratio is 2.10, which is higher than the VGWAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of CVRT and VGWAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CVRT	VGWAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	1.50	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.74	+0.60

Correlation

The correlation between CVRT and VGWAX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CVRT vs. VGWAX - Dividend Comparison

CVRT's dividend yield for the trailing twelve months is around 1.59%, less than VGWAX's 6.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CVRT Calamos Convertible Equity Alternative ETF	1.59%	1.68%	1.49%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%
VGWAX Vanguard Global Wellington Fund Admiral Shares	6.69%	6.78%	7.47%	2.66%	4.50%	3.36%	1.64%	2.08%	2.62%

Drawdowns

CVRT vs. VGWAX - Drawdown Comparison

The maximum CVRT drawdown since its inception was -20.71%, smaller than the maximum VGWAX drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for CVRT and VGWAX.

Drawdown Indicators

	CVRT	VGWAX	Difference
Max Drawdown Largest peak-to-trough decline	-20.71%	-25.28%	+4.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-7.04%	-4.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.46%	—
Current Drawdown Current decline from peak	-5.08%	-6.46%	+1.38%
Average Drawdown Average peak-to-trough decline	-3.21%	-2.94%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	1.76%	+0.87%

Volatility

CVRT vs. VGWAX - Volatility Comparison

Calamos Convertible Equity Alternative ETF (CVRT) has a higher volatility of 10.03% compared to Vanguard Global Wellington Fund Admiral Shares (VGWAX) at 3.38%. This indicates that CVRT's price experiences larger fluctuations and is considered to be riskier than VGWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVRT	VGWAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.03%	3.38%	+6.65%
Volatility (6M) Calculated over the trailing 6-month period	17.77%	5.80%	+11.97%
Volatility (1Y) Calculated over the trailing 1-year period	23.00%	9.58%	+13.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	9.09%	+10.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	10.99%	+8.67%