FISCX vs. CXGCX

Last updated Jun 23, 2026

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

Performance

FISCX vs. CXGCX - Performance Comparison

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

Returns By Period

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

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%

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%

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

FISCX vs. CXGCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

FISCX vs. CXGCX — Risk / Return Rank

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

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

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

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.

FISCX vs. CXGCX - Risk-Adjusted Trends Comparison

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

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

FISCX vs. CXGCX - Sharpe Ratio Comparison

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

FISCX vs. CXGCX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

FISCX vs. CXGCX - Volatility Comparison

Franklin Convertible Securities Fund (FISCX) and Calamos Global Convertible Fund (CXGCX) have volatilities of 4.24% and 4.05%, 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

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

FISCX vs. CXGCX - Expense Ratio Comparison

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

Dividends

FISCX vs. CXGCX - Dividend Comparison

FISCX's dividend yield for the trailing twelve months is around 8.53%, more than CXGCX's 4.61% 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 FISCX and CXGCX in my portfolio?

FISCX and CXGCX 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, FISCX or CXGCX?

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

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.