LOCFX vs. CHY

Last updated Jun 24, 2026

LOCFX (Lord Abbett Convertible Fund Class F3) and CHY (Calamos Convertible and High Income Closed Fund) are both Convertible Bonds funds. LOCFX is passively managed, while CHY is actively managed. Over the past 5 years, LOCFX returned 6.92%/yr vs 6.07%/yr for CHY. A 0.61 correlation means they provide meaningful diversification when combined. LOCFX charges 0.82%/yr vs 2.64%/yr for CHY.

Performance

LOCFX vs. CHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lord Abbett Convertible Fund Class F3 (LOCFX) and Calamos Convertible and High Income Closed Fund (CHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with LOCFX having a 21.35% return and CHY slightly higher at 22.15%.

LOCFX

• 1D: 0.00%
• 1M: 2.36%
• YTD: 21.35%
• 6M: 19.62%
• 1Y: 37.80%
• 3Y*: 20.91%
• 5Y*: 6.92%
• 10Y*: —

CHY

• 1D: -1.49%
• 1M: 3.44%
• YTD: 22.15%
• 6M: 18.49%
• 1Y: 38.80%
• 3Y*: 18.86%
• 5Y*: 6.07%
• 10Y*: 13.02%

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

LOCFX vs. CHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LOCFX Lord Abbett Convertible Fund Class F3	21.35%	22.43%	14.00%	7.30%	-23.12%	1.40%	64.47%	25.07%	-6.42%	10.04%
CHY Calamos Convertible and High Income Closed Fund	22.15%	3.97%	17.24%	20.78%	-28.05%	22.17%	36.75%	32.63%	-12.60%	13.04%

Correlation

The correlation between LOCFX and CHY is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017	0.61

The correlation between LOCFX and CHY shifts across timeframes, from 0.61 (all time) to 0.72 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LOCFX vs. CHY — Risk / Return Rank

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

LOCFX

LOCFX Risk / Return Rank: 82
LOCFX Sharpe Ratio Rank: 82
LOCFX Sortino Ratio Rank: 71
LOCFX Omega Ratio Rank: 70
LOCFX Calmar Ratio Rank: 95
LOCFX Martin Ratio Rank: 94

CHY

CHY Risk / Return Rank: 77
CHY Sharpe Ratio Rank: 78
CHY Sortino Ratio Rank: 68
CHY Omega Ratio Rank: 72
CHY Calmar Ratio Rank: 79
CHY 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.

LOCFX vs. CHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Convertible Fund Class F3 (LOCFX) and Calamos Convertible and High Income Closed Fund (CHY). 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.

	LOCFX	CHY	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.38	+0.09
Sortino ratio: Return per unit of downside risk	3.21	3.12	+0.08
Omega ratio: Gain probability vs. loss probability	1.43	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	5.50	3.41	+2.09
Martin ratio: Return relative to average drawdown	19.15	16.67	+2.48

LOCFX vs. CHY - Sharpe Ratio Comparison

The current LOCFX Sharpe Ratio is 2.47, which is comparable to the CHY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of LOCFX and CHY, 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

LOCFX vs. CHY - Drawdown Comparison

The maximum LOCFX drawdown since its inception was -33.29%, smaller than the maximum CHY drawdown of -60.53%. Use the drawdown chart below to compare losses from any high point for LOCFX and CHY.

Drawdown Indicators

	LOCFX	CHY	Difference
Max Drawdown Largest peak-to-trough decline	-33.29%	-60.53%	+27.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.02%	-11.42%	+4.40%
Max Drawdown (3Y) Largest decline over 3 years	-12.09%	-24.32%	+12.23%
Max Drawdown (5Y) Largest decline over 5 years	-30.60%	-35.99%	+5.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.41%	—
Current Drawdown Current decline from peak	-0.90%	-1.56%	+0.66%
Average Drawdown Average peak-to-trough decline	-11.16%	-9.09%	-2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.33%	-0.32%

Volatility

LOCFX vs. CHY - Volatility Comparison

Lord Abbett Convertible Fund Class F3 (LOCFX) and Calamos Convertible and High Income Closed Fund (CHY) have volatilities of 6.03% and 5.89%, 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

	LOCFX	CHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	5.89%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	14.17%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	15.66%	16.41%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	19.44%	-6.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.08%	23.30%	-9.22%

LOCFX vs. CHY - Expense Ratio Comparison

LOCFX has a 0.82% expense ratio, which is lower than CHY's 2.64% expense ratio.

Dividends

LOCFX vs. CHY - Dividend Comparison

LOCFX's dividend yield for the trailing twelve months is around 1.27%, less than CHY's 9.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHY Calamos Convertible and High Income Closed Fund	9.05%	10.61%	9.88%	10.46%	11.37%	7.42%	7.14%	8.72%	12.13%	10.13%	11.37%	11.42%
LOCFX Lord Abbett Convertible Fund Class F3	1.27%	1.86%	2.29%	2.06%	2.72%	18.36%	16.20%	8.75%	5.02%	2.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LOCFX and CHY in my portfolio?

LOCFX and CHY have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOCFX or CHY?

LOCFX has higher volatility (6.03%) compared to CHY (5.89%). In terms of maximum drawdown, LOCFX dropped -33.29% vs CHY's -60.53%.

Which has better risk-adjusted returns?

LOCFX currently has the higher Sharpe Ratio (2.47 vs 2.38), 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.