LFMIX vs. CVLOX

Last updated Aug 1, 2026

LFMIX (LoCorr Macro Strategies Fund Class I) and CVLOX (Calamos Global Opportunities Fund) are both Global Allocation funds. Over the past 10 years, LFMIX returned 3.37%/yr vs 10.59%/yr for CVLOX. Their 0.15 correlation means their historical movements had little consistent relationship. LFMIX charges 1.88%/yr vs 1.22%/yr for CVLOX.

Performance

LFMIX vs. CVLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LoCorr Macro Strategies Fund Class I (LFMIX) and Calamos Global Opportunities Fund (CVLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LFMIX achieves a 6.94% return, which is significantly lower than CVLOX's 12.04% return. Over the past 10 years, LFMIX has underperformed CVLOX with an annualized return of 3.37%, while CVLOX has yielded a comparatively higher 10.59% annualized return.

LFMIX

• 1D: -0.72%
• 1M: -1.54%
• 6M: 3.48%
• YTD: 6.94%
• 1Y: 11.47%
• 3Y*: 4.48%
• 5Y*: 4.18%
• 10Y*: 3.37%
• ALL TIME*: 2.91%

CVLOX

• 1D: 1.91%
• 1M: -2.77%
• 6M: 6.64%
• YTD: 12.04%
• 1Y: 18.36%
• 3Y*: 17.78%
• 5Y*: 8.49%
• 10Y*: 10.59%
• ALL TIME*: 8.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CVLOX Calamos Global Opportunities Fund	$0.00	$0.00	$0.00
LFMIX LoCorr Macro Strategies Fund Class I	$0.00	$0.00	$0.00

LFMIX vs. CVLOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LFMIX LoCorr Macro Strategies Fund Class I	6.94%	2.89%	6.77%	-6.55%	15.43%	0.07%	4.55%	12.71%	-5.11%	2.99%
CVLOX Calamos Global Opportunities Fund	12.04%	15.84%	23.81%	13.88%	-22.17%	15.72%	31.76%	18.28%	-9.88%	20.04%

Correlation

The correlation between LFMIX and CVLOX is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.27
Correlation (3Y) Balances recent behavior with more history.	0.18
Correlation (5Y) Shows whether the relationship held over a longer period.	0.03
Correlation (10Y) Provides a long-term view across more market conditions.	0.17
Correlation (All Time) Calculated using the full available price history since Apr 6, 2011	0.16

The correlation between LFMIX and CVLOX shifts across timeframes, from 0.03 (5 years) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LFMIX vs. CVLOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LFMIX

LFMIX Risk / Return Rank: 79
LFMIX Sharpe Ratio Rank: 77
LFMIX Sortino Ratio Rank: 76
LFMIX Omega Ratio Rank: 74
LFMIX Calmar Ratio Rank: 86
LFMIX Martin Ratio Rank: 80

CVLOX

CVLOX Risk / Return Rank: 34
CVLOX Sharpe Ratio Rank: 31
CVLOX Sortino Ratio Rank: 31
CVLOX Omega Ratio Rank: 31
CVLOX Calmar Ratio Rank: 42
CVLOX Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LFMIX vs. CVLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LoCorr Macro Strategies Fund Class I (LFMIX) and Calamos Global Opportunities Fund (CVLOX). 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.

	LFMIX	CVLOX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.03	+0.77
Sortino ratio: Return per unit of downside risk	2.62	1.49	+1.13
Omega ratio: Gain probability vs. loss probability	1.33	1.19	+0.14
Calmar ratio: Return relative to maximum drawdown	2.98	1.69	+1.28
Martin ratio: Return relative to average drawdown	9.80	5.52	+4.28

LFMIX vs. CVLOX - Sharpe Ratio Comparison

The current LFMIX Sharpe Ratio is 1.81, which is higher than the CVLOX Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of LFMIX and CVLOX, 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

LFMIX vs. CVLOX - Drawdown Comparison

The maximum LFMIX drawdown since its inception was -22.68%, smaller than the maximum CVLOX drawdown of -46.61%. Use the drawdown chart below to compare losses from any high point for LFMIX and CVLOX.

Drawdown Indicators

	LFMIX	CVLOX	Difference
Max Drawdown Largest peak-to-trough decline	-22.68%	-46.61%	+23.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.48%	-9.85%	+6.37%
Max Drawdown (3Y) Largest decline over 3 years	-8.88%	-15.16%	+6.28%
Max Drawdown (5Y) Largest decline over 5 years	-12.26%	-29.97%	+17.71%
Max Drawdown (10Y) Largest decline over 10 years	-12.26%	-29.97%	+17.71%
Current Drawdown Current decline from peak	-3.48%	-6.02%	+2.54%
Average Drawdown Average peak-to-trough decline	-6.72%	-8.96%	+2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	3.02%	-1.96%

Volatility

LFMIX vs. CVLOX - Volatility Comparison

The current volatility for LoCorr Macro Strategies Fund Class I (LFMIX) is 1.64%, while Calamos Global Opportunities Fund (CVLOX) has a volatility of 5.07%. This indicates that LFMIX experiences smaller price fluctuations and is considered to be less risky than CVLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LFMIX	CVLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	5.07%	-3.43%
Volatility (6M) Calculated over the trailing 6-month period	4.36%	13.87%	-9.51%
Volatility (1Y) Calculated over the trailing 1-year period	5.75%	16.17%	-10.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.19%	14.83%	-7.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	14.91%	-7.39%

LFMIX vs. CVLOX - Expense Ratio Comparison

LFMIX has a 1.88% expense ratio, which is higher than CVLOX's 1.22% expense ratio.

Dividends

LFMIX vs. CVLOX - Dividend Comparison

LFMIX's dividend yield for the trailing twelve months is around 2.94%, less than CVLOX's 8.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVLOX Calamos Global Opportunities Fund	8.05%	9.10%	8.15%	0.61%	0.00%	5.71%	6.11%	1.28%	12.65%	6.04%	0.68%	1.28%
LFMIX LoCorr Macro Strategies Fund Class I	2.94%	3.14%	3.21%	3.17%	14.35%	4.95%	4.73%	4.66%	3.12%	5.89%	1.95%	3.08%

Frequently Asked Questions

Can I hold both LFMIX and CVLOX in my portfolio?

LFMIX and CVLOX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LFMIX or CVLOX?

CVLOX has higher volatility (5.07%) compared to LFMIX (1.64%). In terms of maximum drawdown, LFMIX dropped -22.68% vs CVLOX's -46.61%.

Which has better risk-adjusted returns?

LFMIX currently has the higher Sharpe Ratio (1.81 vs 1.03), 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.