MCIFX vs. CHI
MCIFX (Miller Convertible Bond Fund) and CHI (Calamos Convertible Opportunities and Income Fund) are both Convertible Bonds funds. Over the past 10 years, MCIFX returned 5.54%/yr vs 12.23%/yr for CHI. Their 0.53 correlation means they have sometimes moved together and sometimes differently. MCIFX charges 0.97%/yr vs 0.88%/yr for CHI.
Performance
MCIFX vs. CHI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MCIFX achieves a 9.62% return, which is significantly lower than CHI's 25.35% return. Over the past 10 years, MCIFX has underperformed CHI with an annualized return of 5.54%, while CHI has yielded a comparatively higher 12.23% annualized return.
MCIFX
- 1D
- -0.29%
- 1M
- 0.29%
- 6M
- 6.98%
- YTD
- 9.62%
- 1Y
- 15.09%
- 3Y*
- 7.65%
- 5Y*
- 3.64%
- 10Y*
- 5.54%
- ALL TIME*
- 5.90%
CHI
- 1D
- 1.21%
- 1M
- -3.44%
- 6M
- 16.98%
- YTD
- 25.35%
- 1Y
- 35.42%
- 3Y*
- 14.65%
- 5Y*
- 6.12%
- 10Y*
- 12.23%
- ALL TIME*
- 9.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.29M | $2.24M | $2.26M | |
| $0.00 | $0.00 | $0.00 |
MCIFX vs. CHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCIFX Miller Convertible Bond Fund | 9.62% | 6.35% | 5.75% | 6.06% | -10.55% | 4.40% | 19.61% | 13.28% | -5.64% | 7.30% |
CHI Calamos Convertible Opportunities and Income Fund | 25.35% | -2.15% | 27.23% | 9.49% | -23.31% | 20.31% | 33.82% | 35.66% | -12.67% | 22.70% |
Correlation
The correlation between MCIFX and CHI is 0.50, 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. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007 | 0.53 |
The correlation between MCIFX and CHI has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MCIFX vs. CHI — Risk / Return Rank
MCIFX
CHI
MCIFX vs. CHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Convertible Bond Fund (MCIFX) and Calamos Convertible Opportunities and Income Fund (CHI). 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.
| MCIFX | CHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.33 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 3.25 | -0.12 |
| Martin ratioReturn relative to average drawdown | 12.81 | 11.72 | +1.10 |
Loading charts...
Drawdowns
MCIFX vs. CHI - Drawdown Comparison
The maximum MCIFX drawdown since its inception was -29.19%, smaller than the maximum CHI drawdown of -64.72%. Use the drawdown chart below to compare losses from any high point for MCIFX and CHI.
Loading charts...
Drawdown Indicators
| MCIFX | CHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.19% | -64.72% | +35.53% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -10.71% | +6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.35% | -27.52% | +21.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.75% | -36.03% | +21.28% |
Max Drawdown (10Y)Largest decline over 10 years | -17.36% | -49.64% | +32.28% |
Current DrawdownCurrent decline from peak | -0.73% | -6.10% | +5.37% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -9.62% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 2.96% | -1.86% |
Volatility
MCIFX vs. CHI - Volatility Comparison
The current volatility for Miller Convertible Bond Fund (MCIFX) is 1.39%, while Calamos Convertible Opportunities and Income Fund (CHI) has a volatility of 6.95%. This indicates that MCIFX experiences smaller price fluctuations and is considered to be less risky than CHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MCIFX | CHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 6.95% | -5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 15.30% | -11.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.37% | 18.67% | -13.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.12% | 20.33% | -14.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 23.27% | -16.31% |
MCIFX vs. CHI - Expense Ratio Comparison
MCIFX has a 0.97% expense ratio, which is higher than CHI's 0.88% expense ratio.
Dividends
MCIFX vs. CHI - Dividend Comparison
MCIFX's dividend yield for the trailing twelve months is around 5.03%, less than CHI's 9.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHI Calamos Convertible Opportunities and Income Fund | 9.10% | 10.88% | 9.55% | 11.00% | 10.85% | 7.54% | 6.75% | 8.49% | 12.19% | 10.19% | 11.30% | 11.50% |
MCIFX Miller Convertible Bond Fund | 5.03% | 4.10% | 4.12% | 3.55% | 3.99% | 7.69% | 3.43% | 2.96% | 5.31% | 5.59% | 2.45% | 2.46% |
Frequently Asked Questions
MCIFX and CHI have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHI has higher volatility (6.95%) compared to MCIFX (1.39%). In terms of maximum drawdown, MCIFX dropped -29.19% vs CHI's -64.72%.
MCIFX currently has the higher Sharpe Ratio (2.64 vs 1.86), 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.
Find the right allocation for MCIFX and CHI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer