GBLAX vs. CHW
GBLAX (American Funds Global Balanced Fund Class A) and CHW (Calamos Global Dynamic Income Fund) are both Global Allocation funds. Both are actively managed. Over the past 10 years, GBLAX returned 6.79%/yr vs 11.54%/yr for CHW. Their 0.68 correlation means they have sometimes moved together and sometimes differently. GBLAX charges 0.80%/yr vs 2.63%/yr for CHW.
Performance
GBLAX vs. CHW - Performance Comparison
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Returns By Period
In the year-to-date period, GBLAX achieves a 6.41% return, which is significantly lower than CHW's 16.29% return. Over the past 10 years, GBLAX has underperformed CHW with an annualized return of 6.79%, while CHW has yielded a comparatively higher 11.54% annualized return.
GBLAX
- 1D
- 1.12%
- 1M
- 0.28%
- 6M
- 3.86%
- YTD
- 6.41%
- 1Y
- 13.86%
- 3Y*
- 11.32%
- 5Y*
- 5.76%
- 10Y*
- 6.79%
- ALL TIME*
- 6.55%
CHW
- 1D
- 1.34%
- 1M
- -4.60%
- 6M
- 7.58%
- YTD
- 16.29%
- 1Y
- 26.53%
- 3Y*
- 20.54%
- 5Y*
- 3.45%
- 10Y*
- 11.54%
- ALL TIME*
- 6.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39M | $2.48M | $2.03M | |
| $0.00 | $0.00 | $0.00 |
GBLAX vs. CHW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBLAX American Funds Global Balanced Fund Class A | 6.41% | 17.12% | 6.56% | 13.68% | -14.25% | 9.18% | 10.47% | 17.26% | -6.13% | 13.99% |
CHW Calamos Global Dynamic Income Fund | 16.29% | 19.55% | 27.82% | 14.55% | -37.74% | 13.07% | 22.28% | 47.12% | -20.33% | 43.78% |
Correlation
The correlation between GBLAX and CHW is 0.69, 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. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2011 | 0.68 |
The correlation between GBLAX and CHW has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.
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Return for Risk
GBLAX vs. CHW — Risk / Return Rank
GBLAX
CHW
GBLAX vs. CHW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Global Balanced Fund Class A (GBLAX) and Calamos Global Dynamic Income Fund (CHW). 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.
| GBLAX | CHW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 1.62 | +0.36 |
| Martin ratioReturn relative to average drawdown | 8.25 | 5.65 | +2.60 |
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Drawdowns
GBLAX vs. CHW - Drawdown Comparison
The maximum GBLAX drawdown since its inception was -23.36%, smaller than the maximum CHW drawdown of -66.94%. Use the drawdown chart below to compare losses from any high point for GBLAX and CHW.
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Drawdown Indicators
| GBLAX | CHW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.36% | -66.94% | +43.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.74% | -15.51% | +8.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.90% | -20.40% | +11.50% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -45.48% | +22.93% |
Max Drawdown (10Y)Largest decline over 10 years | -23.36% | -53.58% | +30.22% |
Current DrawdownCurrent decline from peak | -0.53% | -8.14% | +7.61% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -14.79% | +11.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 4.43% | -2.82% |
Volatility
GBLAX vs. CHW - Volatility Comparison
The current volatility for American Funds Global Balanced Fund Class A (GBLAX) is 2.14%, while Calamos Global Dynamic Income Fund (CHW) has a volatility of 5.13%. This indicates that GBLAX experiences smaller price fluctuations and is considered to be less risky than CHW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBLAX | CHW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 5.13% | -2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 15.11% | -7.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.70% | 17.41% | -8.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.98% | 19.17% | -9.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.40% | 22.32% | -11.92% |
GBLAX vs. CHW - Expense Ratio Comparison
GBLAX has a 0.80% expense ratio, which is lower than CHW's 2.63% expense ratio.
Dividends
GBLAX vs. CHW - Dividend Comparison
GBLAX's dividend yield for the trailing twelve months is around 5.83%, less than CHW's 7.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHW Calamos Global Dynamic Income Fund | 7.35% | 8.10% | 8.89% | 10.40% | 13.62% | 8.43% | 8.79% | 9.67% | 12.82% | 9.25% | 12.05% | 11.73% |
GBLAX American Funds Global Balanced Fund Class A | 5.83% | 6.34% | 5.53% | 1.61% | 1.52% | 6.02% | 1.24% | 1.87% | 2.30% | 3.15% | 2.00% | 3.28% |
Frequently Asked Questions
GBLAX and CHW have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHW has higher volatility (5.13%) compared to GBLAX (2.14%). In terms of maximum drawdown, GBLAX dropped -23.36% vs CHW's -66.94%.
GBLAX currently has the higher Sharpe Ratio (1.53 vs 1.44), 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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