SBFCX vs. CHY
SBFCX (Victory INCORE Investment Grade Convertible Fund Class A) and CHY (Calamos Convertible and High Income Closed Fund) are both Convertible Bonds funds. Over the past 10 years, SBFCX returned 7.22%/yr vs 11.54%/yr for CHY. Their 0.49 correlation means their historical movements had little consistent relationship. SBFCX charges 1.39%/yr vs 2.64%/yr for CHY.
Performance
SBFCX vs. CHY - Performance Comparison
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Returns By Period
In the year-to-date period, SBFCX achieves a 3.98% return, which is significantly lower than CHY's 18.32% return. Over the past 10 years, SBFCX has underperformed CHY with an annualized return of 7.22%, while CHY has yielded a comparatively higher 11.54% annualized return.
SBFCX
- 1D
- 0.59%
- 1M
- -0.95%
- 6M
- 3.13%
- YTD
- 3.98%
- 1Y
- 5.86%
- 3Y*
- 6.96%
- 5Y*
- 3.18%
- 10Y*
- 7.22%
- ALL TIME*
- 6.69%
CHY
- 1D
- 1.59%
- 1M
- -4.44%
- 6M
- 14.47%
- YTD
- 18.32%
- 1Y
- 30.39%
- 3Y*
- 15.20%
- 5Y*
- 5.45%
- 10Y*
- 11.54%
- ALL TIME*
- 8.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.89M | $2.53M | $2.63M | |
| $0.00 | $0.00 | $0.00 |
SBFCX vs. CHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBFCX Victory INCORE Investment Grade Convertible Fund Class A | 3.98% | 5.07% | 9.48% | 7.98% | -11.63% | 10.90% | 11.35% | 19.84% | -0.44% | 18.47% |
CHY Calamos Convertible and High Income Closed Fund | 18.32% | 3.97% | 17.24% | 20.78% | -28.05% | 22.17% | 36.75% | 32.63% | -12.60% | 24.44% |
Correlation
The correlation between SBFCX and CHY is 0.55, 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. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 29, 2003 | 0.49 |
The correlation between SBFCX and CHY has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
SBFCX vs. CHY — Risk / Return Rank
SBFCX
CHY
SBFCX vs. CHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victory INCORE Investment Grade Convertible Fund Class A (SBFCX) 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.
| SBFCX | CHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.31 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 2.67 | -1.42 |
| Martin ratioReturn relative to average drawdown | 4.28 | 11.07 | -6.79 |
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Drawdowns
SBFCX vs. CHY - Drawdown Comparison
The maximum SBFCX drawdown since its inception was -47.88%, smaller than the maximum CHY drawdown of -60.53%. Use the drawdown chart below to compare losses from any high point for SBFCX and CHY.
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Drawdown Indicators
| SBFCX | CHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.88% | -60.53% | +12.65% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -11.42% | +7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -8.68% | -24.32% | +15.64% |
Max Drawdown (5Y)Largest decline over 5 years | -15.06% | -35.99% | +20.93% |
Max Drawdown (10Y)Largest decline over 10 years | -23.79% | -50.41% | +26.62% |
Current DrawdownCurrent decline from peak | -2.34% | -6.59% | +4.25% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -9.06% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 2.75% | -1.50% |
Volatility
SBFCX vs. CHY - Volatility Comparison
The current volatility for Victory INCORE Investment Grade Convertible Fund Class A (SBFCX) is 1.53%, while Calamos Convertible and High Income Closed Fund (CHY) has a volatility of 5.89%. This indicates that SBFCX experiences smaller price fluctuations and is considered to be less risky than CHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBFCX | CHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 5.89% | -4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 5.13% | 14.97% | -9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.42% | 17.49% | -11.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.22% | 19.52% | -11.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 23.33% | -13.81% |
SBFCX vs. CHY - Expense Ratio Comparison
SBFCX has a 1.39% expense ratio, which is lower than CHY's 2.64% expense ratio.
Dividends
SBFCX vs. CHY - Dividend Comparison
SBFCX's dividend yield for the trailing twelve months is around 3.12%, less than CHY's 9.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHY Calamos Convertible and High Income Closed Fund | 9.41% | 10.61% | 9.88% | 10.46% | 11.37% | 7.42% | 7.14% | 8.72% | 12.13% | 10.13% | 11.37% | 11.42% |
SBFCX Victory INCORE Investment Grade Convertible Fund Class A | 3.12% | 4.35% | 1.87% | 2.84% | 2.19% | 9.86% | 4.88% | 4.94% | 5.66% | 3.13% | 1.38% | 2.53% |
Frequently Asked Questions
SBFCX and CHY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHY has higher volatility (5.89%) compared to SBFCX (1.53%). In terms of maximum drawdown, SBFCX dropped -47.88% vs CHY's -60.53%.
CHY currently has the higher Sharpe Ratio (1.75 vs 0.84), 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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