HMXIX vs. CIHEX
Compare and contrast key facts about AlphaCentric Premium Opportunity Fund (HMXIX) and Calamos Hedged Equity Fund (CIHEX).
HMXIX is managed by AlphaCentric Funds. It was launched on Sep 29, 2016. CIHEX is managed by Calamos. It was launched on Dec 30, 2014.
Performance
HMXIX vs. CIHEX - Performance Comparison
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HMXIX vs. CIHEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMXIX AlphaCentric Premium Opportunity Fund | -5.46% | 8.73% | 8.86% | 13.36% | -10.62% | 7.82% | 27.93% | 16.54% | -5.61% | 2.71% |
CIHEX Calamos Hedged Equity Fund | -3.54% | 11.36% | 14.96% | 15.88% | -11.11% | 13.31% | 9.66% | 14.47% | 0.87% | 8.37% |
Returns By Period
In the year-to-date period, HMXIX achieves a -5.46% return, which is significantly lower than CIHEX's -3.54% return. Over the past 10 years, HMXIX has underperformed CIHEX with an annualized return of 6.28%, while CIHEX has yielded a comparatively higher 7.62% annualized return.
HMXIX
- 1D
- 0.73%
- 1M
- -4.78%
- YTD
- -5.46%
- 6M
- -4.77%
- 1Y
- 8.00%
- 3Y*
- 6.91%
- 5Y*
- 3.68%
- 10Y*
- 6.28%
CIHEX
- 1D
- -0.16%
- 1M
- -3.74%
- YTD
- -3.54%
- 6M
- -1.87%
- 1Y
- 9.82%
- 3Y*
- 11.06%
- 5Y*
- 6.85%
- 10Y*
- 7.62%
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HMXIX vs. CIHEX - Expense Ratio Comparison
HMXIX has a 1.99% expense ratio, which is higher than CIHEX's 0.91% expense ratio.
Return for Risk
HMXIX vs. CIHEX — Risk / Return Rank
HMXIX
CIHEX
HMXIX vs. CIHEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AlphaCentric Premium Opportunity Fund (HMXIX) and Calamos Hedged Equity Fund (CIHEX). 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.
| HMXIX | CIHEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.59 | 1.11 | -0.52 |
Sortino ratioReturn per unit of downside risk | 0.82 | 1.66 | -0.84 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.24 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.57 | -0.82 |
Martin ratioReturn relative to average drawdown | 2.19 | 7.09 | -4.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HMXIX | CIHEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 1.11 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.76 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.82 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.73 | +0.20 |
Correlation
The correlation between HMXIX and CIHEX is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HMXIX vs. CIHEX - Dividend Comparison
HMXIX's dividend yield for the trailing twelve months is around 6.48%, more than CIHEX's 0.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMXIX AlphaCentric Premium Opportunity Fund | 6.48% | 6.13% | 2.17% | 0.00% | 0.00% | 4.78% | 2.26% | 0.00% | 0.00% | 0.47% | 0.16% | 0.00% |
CIHEX Calamos Hedged Equity Fund | 0.34% | 0.33% | 0.46% | 0.69% | 0.73% | 0.44% | 1.03% | 0.99% | 3.16% | 0.85% | 1.29% | 1.69% |
Drawdowns
HMXIX vs. CIHEX - Drawdown Comparison
The maximum HMXIX drawdown since its inception was -15.80%, smaller than the maximum CIHEX drawdown of -17.80%. Use the drawdown chart below to compare losses from any high point for HMXIX and CIHEX.
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Drawdown Indicators
| HMXIX | CIHEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.80% | -17.80% | +2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -5.82% | -2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -15.80% | -15.77% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -15.80% | -17.80% | +2.00% |
Current DrawdownCurrent decline from peak | -8.02% | -4.68% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -2.34% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 1.29% | +1.68% |
Volatility
HMXIX vs. CIHEX - Volatility Comparison
AlphaCentric Premium Opportunity Fund (HMXIX) has a higher volatility of 4.31% compared to Calamos Hedged Equity Fund (CIHEX) at 2.12%. This indicates that HMXIX's price experiences larger fluctuations and is considered to be riskier than CIHEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMXIX | CIHEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 2.12% | +2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 4.79% | +4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.23% | 9.19% | +5.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.35% | 9.10% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.57% | 9.36% | +1.21% |