MDLOX vs. CVLOX
MDLOX (BlackRock Global Allocation Fund) and CVLOX (Calamos Global Opportunities Fund) are both Global Allocation funds. Over the past 10 years, MDLOX returned 7.89%/yr vs 10.59%/yr for CVLOX. Their correlation of 0.85 means they have usually moved in the same direction. MDLOX charges 1.11%/yr vs 1.22%/yr for CVLOX.
Performance
MDLOX vs. CVLOX - Performance Comparison
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Returns By Period
In the year-to-date period, MDLOX achieves a 6.06% return, which is significantly lower than CVLOX's 12.04% return. Over the past 10 years, MDLOX has underperformed CVLOX with an annualized return of 7.89%, while CVLOX has yielded a comparatively higher 10.59% annualized return.
MDLOX
- 1D
- 1.66%
- 1M
- -1.55%
- 6M
- 3.20%
- YTD
- 6.06%
- 1Y
- 15.28%
- 3Y*
- 12.52%
- 5Y*
- 5.42%
- 10Y*
- 7.89%
- ALL TIME*
- 7.97%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MDLOX vs. CVLOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDLOX BlackRock Global Allocation Fund | 6.06% | 19.38% | 9.00% | 12.35% | -16.08% | 6.40% | 24.62% | 17.23% | -7.66% | 13.30% |
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 MDLOX and CVLOX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 1996 | 0.85 |
The correlation between MDLOX and CVLOX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
MDLOX vs. CVLOX — Risk / Return Rank
MDLOX
CVLOX
MDLOX vs. CVLOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Allocation Fund (MDLOX) 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.
| MDLOX | CVLOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.19 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.69 | +0.06 |
| Martin ratioReturn relative to average drawdown | 7.11 | 5.52 | +1.59 |
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Drawdowns
MDLOX vs. CVLOX - Drawdown Comparison
The maximum MDLOX drawdown since its inception was -32.96%, smaller than the maximum CVLOX drawdown of -46.61%. Use the drawdown chart below to compare losses from any high point for MDLOX and CVLOX.
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Drawdown Indicators
| MDLOX | CVLOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.96% | -46.61% | +13.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -9.85% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | -15.16% | +5.08% |
Max Drawdown (5Y)Largest decline over 5 years | -22.89% | -29.97% | +7.08% |
Max Drawdown (10Y)Largest decline over 10 years | -22.89% | -29.97% | +7.08% |
Current DrawdownCurrent decline from peak | -2.53% | -6.02% | +3.49% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -8.96% | +4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 3.02% | -0.97% |
Volatility
MDLOX vs. CVLOX - Volatility Comparison
The current volatility for BlackRock Global Allocation Fund (MDLOX) is 3.40%, while Calamos Global Opportunities Fund (CVLOX) has a volatility of 5.07%. This indicates that MDLOX 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.
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Volatility by Period
| MDLOX | CVLOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 5.07% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 9.12% | 13.87% | -4.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.71% | 16.17% | -5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 14.83% | -3.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.74% | 14.91% | -4.17% |
MDLOX vs. CVLOX - Expense Ratio Comparison
MDLOX has a 1.11% expense ratio, which is lower than CVLOX's 1.22% expense ratio.
Dividends
MDLOX vs. CVLOX - Dividend Comparison
MDLOX's dividend yield for the trailing twelve months is around 10.68%, more 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% |
MDLOX BlackRock Global Allocation Fund | 10.68% | 9.07% | 7.50% | 1.15% | 5.98% | 10.11% | 10.01% | 5.44% | 5.21% | 4.56% | 1.81% | 9.49% |
Frequently Asked Questions
MDLOX and CVLOX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVLOX has higher volatility (5.07%) compared to MDLOX (3.40%). In terms of maximum drawdown, MDLOX dropped -32.96% vs CVLOX's -46.61%.
MDLOX currently has the higher Sharpe Ratio (1.36 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.
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