CWB vs. CCD
Compare and contrast key facts about SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and Calamos Dynamic Convertible and Income Fund (CCD).
CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009.
Performance
CWB vs. CCD - Performance Comparison
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CWB vs. CCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 2.86% | 16.61% | 10.06% | 14.49% | -20.81% | 2.18% | 53.39% | 22.39% | -2.00% | 15.69% |
CCD Calamos Dynamic Convertible and Income Fund | 4.16% | -4.26% | 35.89% | 7.98% | -28.00% | 20.33% | 45.75% | 41.60% | -9.64% | 26.56% |
Returns By Period
In the year-to-date period, CWB achieves a 2.86% return, which is significantly lower than CCD's 4.16% return. Over the past 10 years, CWB has underperformed CCD with an annualized return of 11.06%, while CCD has yielded a comparatively higher 12.73% annualized return.
CWB
- 1D
- 2.79%
- 1M
- -2.88%
- YTD
- 2.86%
- 6M
- 1.95%
- 1Y
- 21.54%
- 3Y*
- 13.06%
- 5Y*
- 3.66%
- 10Y*
- 11.06%
CCD
- 1D
- 4.91%
- 1M
- -6.38%
- YTD
- 4.16%
- 6M
- 7.08%
- 1Y
- 11.93%
- 3Y*
- 11.43%
- 5Y*
- 1.77%
- 10Y*
- 12.73%
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Return for Risk
CWB vs. CCD — Risk / Return Rank
CWB
CCD
CWB vs. CCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and Calamos Dynamic Convertible and Income Fund (CCD). 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.
| CWB | CCD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 0.60 | +0.90 |
Sortino ratioReturn per unit of downside risk | 2.07 | 1.00 | +1.07 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.14 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.80 | 0.86 | +1.93 |
Martin ratioReturn relative to average drawdown | 9.27 | 2.26 | +7.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CWB | CCD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 0.60 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.09 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.50 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.34 | +0.50 |
Correlation
The correlation between CWB and CCD is 0.61, 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
CWB vs. CCD - Dividend Comparison
CWB's dividend yield for the trailing twelve months is around 1.63%, less than CCD's 10.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.63% | 1.69% | 1.85% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% |
CCD Calamos Dynamic Convertible and Income Fund | 10.96% | 11.22% | 9.63% | 11.83% | 11.42% | 7.43% | 7.11% | 8.93% | 12.21% | 9.99% | 11.43% | 7.40% |
Drawdowns
CWB vs. CCD - Drawdown Comparison
The maximum CWB drawdown since its inception was -32.06%, smaller than the maximum CCD drawdown of -55.42%. Use the drawdown chart below to compare losses from any high point for CWB and CCD.
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Drawdown Indicators
| CWB | CCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.06% | -55.42% | +23.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.52% | -12.89% | +5.37% |
Max Drawdown (5Y)Largest decline over 5 years | -28.41% | -37.54% | +9.13% |
Max Drawdown (10Y)Largest decline over 10 years | -32.06% | -55.42% | +23.36% |
Current DrawdownCurrent decline from peak | -4.16% | -6.71% | +2.55% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -12.00% | +5.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 4.94% | -2.67% |
Volatility
CWB vs. CCD - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) is 6.36%, while Calamos Dynamic Convertible and Income Fund (CCD) has a volatility of 8.75%. This indicates that CWB experiences smaller price fluctuations and is considered to be less risky than CCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWB | CCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 8.75% | -2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.48% | 13.76% | -2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.38% | 19.89% | -5.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 20.13% | -7.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.33% | 25.75% | -11.42% |