NFJEX vs. CIGEX

Last updated Aug 4, 2026

NFJEX (Virtus NFJ Dividend Value Fund) and CIGEX (Calamos Global Equity Fund) are both mutual funds - NFJEX is a Large Cap Value Equities fund managed by Allianz, while CIGEX is a Global Equities fund managed by Calamos. Over the past 10 years, NFJEX returned 10.12%/yr vs 14.37%/yr for CIGEX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. NFJEX charges 0.70%/yr vs 1.15%/yr for CIGEX.

Performance

NFJEX vs. CIGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus NFJ Dividend Value Fund (NFJEX) and Calamos Global Equity Fund (CIGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFJEX achieves a 23.27% return, which is significantly higher than CIGEX's 12.90% return. Over the past 10 years, NFJEX has underperformed CIGEX with an annualized return of 10.12%, while CIGEX has yielded a comparatively higher 14.37% annualized return.

NFJEX

• 1D: 0.41%
• 1M: 2.32%
• 6M: 17.90%
• YTD: 23.27%
• 1Y: 33.71%
• 3Y*: 13.93%
• 5Y*: 9.78%
• 10Y*: 10.12%
• ALL TIME*: 8.21%

CIGEX

• 1D: 0.69%
• 1M: -2.96%
• 6M: 7.07%
• YTD: 12.90%
• 1Y: 19.98%
• 3Y*: 22.26%
• 5Y*: 10.50%
• 10Y*: 14.37%
• ALL TIME*: 10.16%

*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)
CIGEX Calamos Global Equity Fund	$0.00	$0.00	$0.00
NFJEX Virtus NFJ Dividend Value Fund	$0.00	$0.00	$0.00

NFJEX vs. CIGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NFJEX Virtus NFJ Dividend Value Fund	23.27%	8.46%	5.29%	19.79%	-13.63%	28.90%	-2.13%	25.12%	-10.15%	15.49%
CIGEX Calamos Global Equity Fund	12.90%	18.46%	30.61%	24.55%	-27.42%	16.61%	44.24%	29.43%	-15.54%	34.56%

Correlation

The correlation between NFJEX and CIGEX is 0.61, 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.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Mar 2, 2007	0.78

The correlation between NFJEX and CIGEX shifts across timeframes, from 0.53 (3 years) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NFJEX vs. CIGEX — Risk / Return Rank

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

NFJEX

NFJEX Risk / Return Rank: 92
NFJEX Sharpe Ratio Rank: 93
NFJEX Sortino Ratio Rank: 92
NFJEX Omega Ratio Rank: 87
NFJEX Calmar Ratio Rank: 95
NFJEX Martin Ratio Rank: 94

CIGEX

CIGEX Risk / Return Rank: 24
CIGEX Sharpe Ratio Rank: 21
CIGEX Sortino Ratio Rank: 21
CIGEX Omega Ratio Rank: 22
CIGEX Calmar Ratio Rank: 28
CIGEX Martin Ratio Rank: 28

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.

NFJEX vs. CIGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus NFJ Dividend Value Fund (NFJEX) and Calamos Global Equity Fund (CIGEX). 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.

	NFJEX	CIGEX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	0.83	+1.64
Sortino ratio: Return per unit of downside risk	3.55	1.24	+2.31
Omega ratio: Gain probability vs. loss probability	1.44	1.16	+0.28
Calmar ratio: Return relative to maximum drawdown	4.38	1.34	+3.04
Martin ratio: Return relative to average drawdown	15.62	4.29	+11.33

NFJEX vs. CIGEX - Sharpe Ratio Comparison

The current NFJEX Sharpe Ratio is 2.47, which is higher than the CIGEX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of NFJEX and CIGEX, 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

NFJEX vs. CIGEX - Drawdown Comparison

The maximum NFJEX drawdown since its inception was -61.94%, roughly equal to the maximum CIGEX drawdown of -60.48%. Use the drawdown chart below to compare losses from any high point for NFJEX and CIGEX.

Drawdown Indicators

	NFJEX	CIGEX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-60.48%	-1.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.38%	-13.31%	+5.93%
Max Drawdown (3Y) Largest decline over 3 years	-19.69%	-20.41%	+0.72%
Max Drawdown (5Y) Largest decline over 5 years	-23.29%	-35.81%	+12.52%
Max Drawdown (10Y) Largest decline over 10 years	-39.25%	-35.81%	-3.44%
Current Drawdown Current decline from peak	0.00%	-7.98%	+7.98%
Average Drawdown Average peak-to-trough decline	-9.56%	-10.29%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	4.15%	-2.08%

Volatility

NFJEX vs. CIGEX - Volatility Comparison

The current volatility for Virtus NFJ Dividend Value Fund (NFJEX) is 2.94%, while Calamos Global Equity Fund (CIGEX) has a volatility of 6.39%. This indicates that NFJEX experiences smaller price fluctuations and is considered to be less risky than CIGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFJEX	CIGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	6.39%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	9.64%	18.30%	-8.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	21.59%	-8.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	19.89%	-3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	19.60%	-1.54%

NFJEX vs. CIGEX - Expense Ratio Comparison

NFJEX has a 0.70% expense ratio, which is lower than CIGEX's 1.15% expense ratio.

Dividends

NFJEX vs. CIGEX - Dividend Comparison

NFJEX's dividend yield for the trailing twelve months is around 9.99%, less than CIGEX's 13.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIGEX Calamos Global Equity Fund	13.61%	15.37%	8.67%	0.10%	4.43%	11.75%	6.51%	7.44%	27.66%	9.21%	4.62%	1.98%
NFJEX Virtus NFJ Dividend Value Fund	9.99%	12.61%	3.51%	14.16%	19.01%	6.43%	1.96%	14.20%	27.33%	27.35%	6.05%	2.77%

Frequently Asked Questions

Can I hold both NFJEX and CIGEX in my portfolio?

NFJEX and CIGEX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFJEX or CIGEX?

CIGEX has higher volatility (6.39%) compared to NFJEX (2.94%). In terms of maximum drawdown, NFJEX dropped -61.94% vs CIGEX's -60.48%.

Which has better risk-adjusted returns?

NFJEX currently has the higher Sharpe Ratio (2.47 vs 0.83), 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.