FPACX vs. CMNIX
Compare and contrast key facts about FPA Crescent Fund (FPACX) and Calamos Market Neutral Income Fund Institutional Class (CMNIX).
FPACX is managed by FPA. It was launched on Jun 1, 1993. CMNIX is managed by Calamos. It was launched on May 10, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FPACX or CMNIX.
Key characteristics
| FPACX | CMNIX | |
|---|---|---|
| YTD Return | 13.39% | 6.78% |
| 1Y Return | 18.42% | 4.92% |
| 3Y Return (Ann) | 2.19% | 2.61% |
| 5Y Return (Ann) | 5.83% | 3.69% |
| 10Y Return (Ann) | 3.19% | 2.82% |
| Sharpe Ratio | 1.99 | 1.19 |
| Sortino Ratio | 2.73 | 1.30 |
| Omega Ratio | 1.37 | 1.46 |
| Calmar Ratio | 1.74 | 1.38 |
| Martin Ratio | 12.22 | 3.18 |
| Ulcer Index | 1.47% | 1.50% |
| Daily Std Dev | 9.06% | 4.00% |
| Max Drawdown | -35.01% | -22.81% |
| Current Drawdown | -0.25% | 0.00% |
Correlation
The correlation between FPACX and CMNIX is 0.66, 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.
Performance
FPACX vs. CMNIX - Performance Comparison
In the year-to-date period, FPACX achieves a 13.39% return, which is significantly higher than CMNIX's 6.78% return. Over the past 10 years, FPACX has outperformed CMNIX with an annualized return of 3.19%, while CMNIX has yielded a comparatively lower 2.82% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FPACX vs. CMNIX - Expense Ratio Comparison
FPACX has a 1.00% expense ratio, which is higher than CMNIX's 0.90% expense ratio.
Risk-Adjusted Performance
FPACX vs. CMNIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA Crescent Fund (FPACX) and Calamos Market Neutral Income Fund Institutional Class (CMNIX). 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.
Dividends
FPACX vs. CMNIX - Dividend Comparison
FPACX's dividend yield for the trailing twelve months is around 1.27%, less than CMNIX's 2.13% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPACX FPA Crescent Fund | 1.27% | 0.12% | 0.05% | 0.78% | 0.30% | 2.36% | 0.71% | 0.98% | 0.89% | 1.00% | 0.92% | 0.64% |
CMNIX Calamos Market Neutral Income Fund Institutional Class | 2.13% | 2.31% | 1.02% | 0.46% | 0.90% | 1.56% | 1.78% | 1.40% | 1.41% | 1.35% | 1.22% | 1.55% |
Drawdowns
FPACX vs. CMNIX - Drawdown Comparison
The maximum FPACX drawdown since its inception was -35.01%, which is greater than CMNIX's maximum drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for FPACX and CMNIX. For additional features, visit the drawdowns tool.
Volatility
FPACX vs. CMNIX - Volatility Comparison
FPA Crescent Fund (FPACX) has a higher volatility of 2.39% compared to Calamos Market Neutral Income Fund Institutional Class (CMNIX) at 0.46%. This indicates that FPACX's price experiences larger fluctuations and is considered to be riskier than CMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.