FIQVX vs. CHI
FIQVX (Fidelity Advisor Convertible Securities Fund Class Z) and CHI (Calamos Convertible Opportunities and Income Fund) are both Convertible Bonds funds. Over the past 5 years, FIQVX returned 7.24%/yr vs 6.26%/yr for CHI. Their 0.65 correlation means they have sometimes moved together and sometimes differently. FIQVX charges 0.59%/yr vs 0.88%/yr for CHI.
Performance
FIQVX vs. CHI - Performance Comparison
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Returns By Period
In the year-to-date period, FIQVX achieves a 14.12% return, which is significantly lower than CHI's 27.35% return.
FIQVX
- 1D
- -0.02%
- 1M
- -3.64%
- 6M
- 8.19%
- YTD
- 14.12%
- 1Y
- 25.42%
- 3Y*
- 14.09%
- 5Y*
- 7.24%
- 10Y*
- —
- ALL TIME*
- 13.13%
CHI
- 1D
- 1.60%
- 1M
- -1.90%
- 6M
- 18.32%
- YTD
- 27.35%
- 1Y
- 37.58%
- 3Y*
- 15.84%
- 5Y*
- 6.26%
- 10Y*
- 12.33%
- ALL TIME*
- 9.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.24M | $2.20M | $2.25M | |
| $0.00 | $0.00 | $0.00 |
FIQVX vs. CHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIQVX Fidelity Advisor Convertible Securities Fund Class Z | 14.12% | 18.42% | 8.21% | 11.53% | -15.27% | 10.04% | 42.63% | 28.74% | -6.03% |
CHI Calamos Convertible Opportunities and Income Fund | 27.35% | -2.15% | 27.23% | 9.49% | -23.31% | 20.31% | 33.82% | 35.66% | -16.56% |
Correlation
The correlation between FIQVX and CHI is 0.77, 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. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018 | 0.65 |
The correlation between FIQVX and CHI shifts across timeframes, from 0.62 (3 years) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FIQVX vs. CHI — Risk / Return Rank
FIQVX
CHI
FIQVX vs. CHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Convertible Securities Fund Class Z (FIQVX) and Calamos Convertible Opportunities and Income Fund (CHI). 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.
| FIQVX | CHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.35 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 3.53 | -1.49 |
| Martin ratioReturn relative to average drawdown | 7.85 | 12.65 | -4.80 |
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Drawdowns
FIQVX vs. CHI - Drawdown Comparison
The maximum FIQVX drawdown since its inception was -25.04%, smaller than the maximum CHI drawdown of -64.72%. Use the drawdown chart below to compare losses from any high point for FIQVX and CHI.
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Drawdown Indicators
| FIQVX | CHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.04% | -64.72% | +39.68% |
Max Drawdown (1Y)Largest decline over 1 year | -11.69% | -10.71% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -18.86% | -27.52% | +8.66% |
Max Drawdown (5Y)Largest decline over 5 years | -24.16% | -36.03% | +11.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.64% | — |
Current DrawdownCurrent decline from peak | -9.05% | -4.60% | -4.45% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -9.62% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.98% | +0.04% |
Volatility
FIQVX vs. CHI - Volatility Comparison
The current volatility for Fidelity Advisor Convertible Securities Fund Class Z (FIQVX) is 6.00%, while Calamos Convertible Opportunities and Income Fund (CHI) has a volatility of 7.10%. This indicates that FIQVX experiences smaller price fluctuations and is considered to be less risky than CHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIQVX | CHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 7.10% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.96% | 15.29% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 18.74% | -1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.92% | 20.35% | -6.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.22% | 23.28% | -8.06% |
FIQVX vs. CHI - Expense Ratio Comparison
FIQVX has a 0.59% expense ratio, which is lower than CHI's 0.88% expense ratio.
Dividends
FIQVX vs. CHI - Dividend Comparison
FIQVX's dividend yield for the trailing twelve months is around 9.24%, more than CHI's 8.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHI Calamos Convertible Opportunities and Income Fund | 8.96% | 10.88% | 9.55% | 11.00% | 10.85% | 7.54% | 6.75% | 8.49% | 12.19% | 10.19% | 11.30% | 11.50% |
FIQVX Fidelity Advisor Convertible Securities Fund Class Z | 9.24% | 11.52% | 2.13% | 2.24% | 3.88% | 20.80% | 10.85% | 3.40% | 8.28% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FIQVX and CHI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHI has higher volatility (7.10%) compared to FIQVX (6.00%). In terms of maximum drawdown, FIQVX dropped -25.04% vs CHI's -64.72%.
CHI currently has the higher Sharpe Ratio (2.02 vs 1.40), 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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