NUDG vs. CCEF

Last updated Jul 28, 2026

NUDG (Nuveen Dividend Growth Fund ETF Class) and CCEF (Calamos CEF Income & Arbitrage ETF) are both Dividend funds. Both are actively managed. Their 0.47 correlation means their historical movements had little consistent relationship. NUDG charges 0.61%/yr vs 2.74%/yr for CCEF.

Performance

NUDG vs. CCEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Dividend Growth Fund ETF Class (NUDG) and Calamos CEF Income & Arbitrage ETF (CCEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NUDG

• 1D: 0.67%
• 1M: 3.12%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CCEF

• 1D: -0.23%
• 1M: 0.42%
• 6M: 3.34%
• YTD: 6.10%
• 1Y: 11.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.83%

*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)
CCEF Calamos CEF Income & Arbitrage ETF	$126.17K	$107.87K	$101.32K
NUDG Nuveen Dividend Growth Fund ETF Class	$504.41	$455.53	$412.95K

NUDG vs. CCEF - Yearly Performance Comparison

	2026 (YTD)
NUDG Nuveen Dividend Growth Fund ETF Class	0.95%
CCEF Calamos CEF Income & Arbitrage ETF	-0.30%

Correlation

The correlation between NUDG and CCEF is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 3, 2026	0.47

Return for Risk

NUDG vs. CCEF — Risk / Return Rank

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

NUDG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CCEF

CCEF Risk / Return Rank: 56
CCEF Sharpe Ratio Rank: 61
CCEF Sortino Ratio Rank: 59
CCEF Omega Ratio Rank: 61
CCEF Calmar Ratio Rank: 43
CCEF Martin Ratio Rank: 56

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.

NUDG vs. CCEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Dividend Growth Fund ETF Class (NUDG) and Calamos CEF Income & Arbitrage ETF (CCEF). 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.

	NUDG	CCEF	Difference
Sharpe ratio: Return per unit of total volatility	—	1.41	—
Sortino ratio: Return per unit of downside risk	—	1.99	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	1.52	—
Martin ratio: Return relative to average drawdown	—	6.51	—

Drawdowns

NUDG vs. CCEF - Drawdown Comparison

The maximum NUDG drawdown since its inception was -2.59%, smaller than the maximum CCEF drawdown of -13.25%. Use the drawdown chart below to compare losses from any high point for NUDG and CCEF.

Drawdown Indicators

	NUDG	CCEF	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-13.25%	+10.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.75%	—
Current Drawdown Current decline from peak	-0.32%	-1.25%	+0.93%
Average Drawdown Average peak-to-trough decline	-1.05%	-1.32%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.80%	—

Volatility

Volatility by Period

	NUDG	CCEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.91%	8.33%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.91%	10.67%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.91%	10.67%	-0.76%

NUDG vs. CCEF - Expense Ratio Comparison

NUDG has a 0.61% expense ratio, which is lower than CCEF's 2.74% expense ratio.

Dividends

NUDG vs. CCEF - Dividend Comparison

NUDG's dividend yield for the trailing twelve months is around 0.26%, less than CCEF's 8.04% yield.

Position	TTM	2025	2024
CCEF Calamos CEF Income & Arbitrage ETF	8.04%	8.08%	6.55%
NUDG Nuveen Dividend Growth Fund ETF Class	0.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUDG and CCEF in my portfolio?

NUDG and CCEF have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NUDG or CCEF?

On fees, NUDG is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NUDG or CCEF?

NUDG is cheaper with a 0.61% expense ratio, compared with 2.74% for CCEF.

Which ETF pays a higher dividend yield, NUDG or CCEF?

CCEF has the higher dividend yield at 8.04%, compared with 0.26% for NUDG.

What is the main difference between NUDG and CCEF?

They also come from different issuers: Nuveen and Calamos. Their fees differ too: 0.61% for NUDG and 2.74% for CCEF.