CXGCX vs. FISCX

Last updated Jun 23, 2026

CXGCX (Calamos Global Convertible Fund) and FISCX (Franklin Convertible Securities Fund) are both Convertible Bonds funds. Over the past 10 years, CXGCX returned 9.32%/yr vs 12.44%/yr for FISCX. Their correlation of 0.86 suggests significant overlap in exposure. CXGCX charges 1.03%/yr vs 0.83%/yr for FISCX.

Performance

CXGCX vs. FISCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Global Convertible Fund (CXGCX) and Franklin Convertible Securities Fund (FISCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXGCX achieves a 15.99% return, which is significantly higher than FISCX's 11.70% return. Over the past 10 years, CXGCX has underperformed FISCX with an annualized return of 9.32%, while FISCX has yielded a comparatively higher 12.44% annualized return.

CXGCX

• 1D: 0.38%
• 1M: 2.52%
• YTD: 15.99%
• 6M: 14.82%
• 1Y: 28.66%
• 3Y*: 16.84%
• 5Y*: 5.68%
• 10Y*: 9.32%

FISCX

• 1D: 1.11%
• 1M: 3.76%
• YTD: 11.70%
• 6M: 10.12%
• 1Y: 23.96%
• 3Y*: 16.01%
• 5Y*: 4.34%
• 10Y*: 12.44%

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

CXGCX vs. FISCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CXGCX Calamos Global Convertible Fund	15.99%	18.49%	10.98%	13.48%	-22.06%	-0.31%	38.60%	15.18%	-2.76%	14.25%
FISCX Franklin Convertible Securities Fund	11.70%	13.63%	16.62%	9.96%	-15.95%	-5.70%	46.28%	33.99%	4.15%	17.98%

Correlation

The correlation between CXGCX and FISCX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.86

The correlation between CXGCX and FISCX has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

Return for Risk

CXGCX vs. FISCX — Risk / Return Rank

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

CXGCX

CXGCX Risk / Return Rank: 88
CXGCX Sharpe Ratio Rank: 89
CXGCX Sortino Ratio Rank: 86
CXGCX Omega Ratio Rank: 81
CXGCX Calmar Ratio Rank: 94
CXGCX Martin Ratio Rank: 90

FISCX

FISCX Risk / Return Rank: 72
FISCX Sharpe Ratio Rank: 67
FISCX Sortino Ratio Rank: 62
FISCX Omega Ratio Rank: 60
FISCX Calmar Ratio Rank: 85
FISCX Martin Ratio Rank: 86

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.

CXGCX vs. FISCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Global Convertible Fund (CXGCX) and Franklin Convertible Securities Fund (FISCX). 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.

	CXGCX	FISCX	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.20	+0.52
Sortino ratio: Return per unit of downside risk	3.77	3.02	+0.75
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	5.01	3.80	+1.21
Martin ratio: Return relative to average drawdown	16.32	15.17	+1.16

CXGCX vs. FISCX - Sharpe Ratio Comparison

The current CXGCX Sharpe Ratio is 2.72, which is comparable to the FISCX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of CXGCX and FISCX, 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

CXGCX vs. FISCX - Drawdown Comparison

The maximum CXGCX drawdown since its inception was -30.74%, smaller than the maximum FISCX drawdown of -49.16%. Use the drawdown chart below to compare losses from any high point for CXGCX and FISCX.

Drawdown Indicators

	CXGCX	FISCX	Difference
Max Drawdown Largest peak-to-trough decline	-30.74%	-49.16%	+18.42%
Max Drawdown (1Y) Largest decline over 1 year	-5.75%	-6.38%	+0.63%
Max Drawdown (3Y) Largest decline over 3 years	-8.92%	-12.95%	+4.03%
Max Drawdown (5Y) Largest decline over 5 years	-28.88%	-34.37%	+5.49%
Max Drawdown (10Y) Largest decline over 10 years	-30.74%	-34.37%	+3.63%
Current Drawdown Current decline from peak	-1.22%	-0.19%	-1.03%
Average Drawdown Average peak-to-trough decline	-7.23%	-6.90%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	1.59%	+0.17%

Volatility

CXGCX vs. FISCX - Volatility Comparison

Calamos Global Convertible Fund (CXGCX) and Franklin Convertible Securities Fund (FISCX) have volatilities of 4.05% and 4.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXGCX	FISCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	4.24%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	8.54%	9.15%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	11.00%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.77%	12.48%	-2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.60%	13.52%	-3.92%

CXGCX vs. FISCX - Expense Ratio Comparison

CXGCX has a 1.03% expense ratio, which is higher than FISCX's 0.83% expense ratio.

Dividends

CXGCX vs. FISCX - Dividend Comparison

CXGCX's dividend yield for the trailing twelve months is around 4.61%, less than FISCX's 8.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CXGCX Calamos Global Convertible Fund	4.61%	5.15%	0.00%	0.39%	0.00%	14.77%	8.19%	2.36%	5.75%	3.73%	2.22%	1.30%
FISCX Franklin Convertible Securities Fund	8.53%	9.94%	4.87%	2.22%	8.70%	8.10%	11.30%	16.05%	7.09%	7.68%	4.62%	4.68%

Frequently Asked Questions

Can I hold both CXGCX and FISCX in my portfolio?

CXGCX and FISCX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXGCX or FISCX?

FISCX has higher volatility (4.24%) compared to CXGCX (4.05%). In terms of maximum drawdown, CXGCX dropped -30.74% vs FISCX's -49.16%.

Which has better risk-adjusted returns?

CXGCX currently has the higher Sharpe Ratio (2.72 vs 2.20), 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.