Overview
The fund invests in the equities of small, midsize and large U.S. companies that we believe are undervalued according to certain financial measurements of their intrinsic values.
Key Features
- Bottom-up stock picking and benchmark agnostic approach with a focus on good businesses with solid cash flow trading at value prices
- Trading focus where positions are frequently monitored, investment assumptions are often questioned, and losing investments are quickly sold to protect capital
- Options strategies to potentially generate income and lower risk
Portfolio Fit
The fund is a core value equity option that may balance a growth allocation and complement other value strategies. Our flexibility in analyzing all companies regardless of sector helps us avoid the cyclicality inherent in a deep value strategy or a momentum growth strategy over full market cycles.
Return on Invested Capital
AS OF 3/31/18
Debt/Capital
AS OF 3/31/18
Important Risk Information
An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus.
The principal risks of investing in the Calamos Opportunistic Value Fund include: equity securities risk consisting of market prices declining in general, value stock risk consisting of the potential that a company will never reach its calculated intrinsic value, small and mid-sized company risk, foreign securities risk and portfolio selection risk.
As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.
NOTES
Annualized Standard Deviation-A statistical measure of the historical volatility of a mutual fund or portfolio, usually computed using 36 monthly returns. More generally, a measure of the extent to which numbers are spread around their average.
Beta-Is a historic measure of a fund's relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market's volatility as represented by the S&P 500 Index, while a beta of 2.0 reflects twice the market's volatility.
Current (SEC) Yield-Reflects the dividends and interest earned by the Fund during the 30-day period ended as of the date stated above after deducting the Fund's expenses for that same period.
Debt/Capital Ratio-Is a measure of a company s financial leverage, calculated as the company’s debt divided by its total capital.
PEG Ratio-Is price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.
Price/Book Ratio-Is a stock’s capitalization divided by its book value.
Price/Earnings Ratio-Is the current stock price over trailing 12‐month earnings per share.
Price/Sales Ratio-Is the current stock price over trailing 12‐month sales per share.
ROIC (Return On Invested Capital)-Measures how effectively a company uses the money invested in its operations, calculated as a company’s net income minus any dividends divided by the company’s total capital.
Russell 1000® Value Index-Measures the performance of those companies in the Russell 1000® Index with lower price-to-book ratios and lower forecasted growth values.
S&P 500 Index-Is generally considered representative of the U.S. stock market.
Turnover-Is the percentage of assets in a portfolio that changed over a certain period, often a year; higher turnover indicates greater buying and selling activity.
Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year Morningstar Rating metrics.
For each U.S.-domiciled fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar data: © 2017 Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.
Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses, or sales charges. Investors cannot invest directly in an index.
Fund Details
As of 4/20/18
- Inception Date:
- 1/2/02
- Current NAV:
- $15.36
- $ Change:
- ($0.09)
- % Change:
- -0.58%
- Net Assets*
- 50.4 mil
(*Total Net Assets as of 3/31/18)
Zephyr Analysis
Create real time reports on performance, risk analysis, peer group analysis, style attribution and more on the Calamos Investment Professional site.
Resources
Sector Weightings
AS OF 3/31/18
|
% of Assets
|
Russell 1000 Value Index
|
Financials
|
28.2%
|
27.1%
|
Information Technology
|
16.9%
|
9.3%
|
Health Care
|
10.9%
|
13.6%
|
Industrials
|
10.6%
|
8.2%
|
Energy
|
10.0%
|
10.7%
|
Consumer Discretionary
|
8.7%
|
6.8%
|
Consumer Staples
|
4.3%
|
8.1%
|
Materials
|
3.6%
|
2.9%
|
Real Estate
|
2.1%
|
4.6%
|
Utilities
|
1.7%
|
5.9%
|
Telecom Services
|
1.6%
|
2.9%
|
Asset Allocation
AS OF 3/31/18
Company
|
Security Type
|
Industry
|
%
|
JPMorgan Chase & Company
|
Common Stocks
|
Diversified Banks
|
3.0%
|
Berkshire Hathaway, Inc. - Class B
|
Common Stocks
|
Multi-Sector Holdings
|
3.0%
|
Bank of America Corp.
|
Common Stocks
|
Diversified Banks
|
2.5%
|
Johnson & Johnson
|
Common Stocks
|
Pharmaceuticals
|
2.4%
|
Apple, Inc.
|
Common Stocks
|
Technology Hardware, Storage & Peripherals
|
2.0%
|
Citigroup, Inc.
|
Common Stocks
|
Diversified Banks
|
1.6%
|
Microsoft Corp.
|
Common Stocks
|
Systems Software
|
1.5%
|
Intel Corp.
|
Common Stocks
|
Semiconductors
|
1.5%
|
Alphabet, Inc. - Class A
|
Common Stocks
|
Internet Software & Services
|
1.5%
|
Pfizer, Inc.
|
Common Stocks
|
Pharmaceuticals
|
1.5%
|
Total
|
|
|
20.5%
|
Fund Facts
AS OF 3/31/18
|
Fund
|
Russell 1000 Value Index
|
Total Net Assets |
$50.4 million |
-- |
# of Holdings |
204 |
711 |
Price/Book |
2.9x |
2.1x |
Price/Earnings |
19.0x |
16.7x |
Price/Sales |
1.9x |
1.6x |
PEG Ratio |
1.5x |
1.6x |
Debt/Capital |
42.4% |
41.3% |
ROIC |
18.2% |
13.5% |
Portfolio Turnover (12 months) |
124.6% |
-- |
Market Capitalization
AS OF 3/31/18
Market |
% |
> $105bil |
37.0% |
$29bil - $105bil |
25.9% |
$10bil - $29bil |
19.5% |
$4bil - $10bil |
14.4% |
< $4bil |
3.2% |
Regional Exposure
AS OF 3/31/18
Region |
% |
North America |
98.2% |
Europe |
0.4% |
Caribbean |
0.0% |
Asia/Pacific |
0.0% |
Latin America |
0.0% |
Top Country Exposures
AS OF 3/31/18
Country | % |
United States | 98.2% |
Ireland | 0.4% |
Luxembourg | 0.0% |
Netherlands | 0.0% |
Peru | 0.0% |
Switzerland | 0.0% |
United Kingdom | 0.0% |
Panama | 0.0% |
Puerto Rico | 0.0% |
Bermuda | 0.0% |
Top Currency Exposures
AS OF 3/31/18
Currency | % |
United States Dollar (USD)
|
100.0%
|
Top 10 Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government / sovereign bonds or broad based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings by visiting www.calamos.com.
Holdings and weightings are subject to change daily. Holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.
Important Fund Information
Annualized Standard Deviation-A statistical measure of the historical volatility of a mutual fund or portfolio, usually computed using 36 monthly returns.
Beta-Is a historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the Fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.
Lipper LargeCap Core Funds-Represents funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of greater than 300% of the dollar weighted median market capitalization of the S&P Mid-Cap 400 Index. Large-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to earnings ratio, price-to-book ratio, and three-year earnings growth
figure, compared to the U.S. diversified large-cap funds universe average.
Russell 1000 Value Index-Measures the performance of those companies in the Russell 1000 Index with lower price-to-book ratios and lower forecasted growth values.
Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown.
Important Risk Information
An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus. The principal risks of investing in the Calamos Value Fund include: equity securities risk, value stock risk, small and mid-sized company risk, foreign securities risk and portfolio selection risk.
As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency
exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries. Before investing, carefully consider the Fund’s investment objectives, risks, charges and expenses. Contact
800.582.6959 for a prospectus containing this and other information. Read it carefully.
Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year Morningstar Rating metrics.
For each U.S.-domiciled fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar data: © 2017 Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.
Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses, or sales charges. Investors cannot invest directly in an index.
Total Capital Gains
| |
| |
2017 | 0.4708 |
2016 | 0.0000 |
2015 | 0.9092 |
2014 | 0.9862 |
2013 | 1.1116 |
2012 | 0.0000 |
2011 | 0.0000 |
2010 | 0.0000 |
2009 | 0.0000 |
2008 | 0.0000 |
Schedule
|
|
Distributions |
Annually |
Capital Gains |
Annually |
Distributions
Choose a year
4Q 2017 |
0.04755 |
0.04755 |
15.06000 |
4Q 2016 |
0.09578 |
0.09578 |
13.65000 |
4Q 2015 |
0.16479 |
0.16479 |
12.16000 |
4Q 2014 |
0.13870 |
0.13870 |
13.79000 |
1Q 2014 |
0.00000 |
0.00000 |
0.00000 |
4Q 2013 |
0.14224 |
0.14224 |
14.35000 |
3Q 2013 |
0.00000 |
0.00000 |
0.00000 |
2Q 2013 |
0.00000 |
0.00000 |
0.00000 |
1Q 2013 |
0.00000 |
0.00000 |
0.00000 |
4Q 2012 |
0.18116 |
0.18116 |
12.25000 |
3Q 2012 |
0.00000 |
0.00000 |
0.00000 |
2Q 2012 |
0.00000 |
0.00000 |
0.00000 |
1Q 2012 |
0.00000 |
0.00000 |
0.00000 |
4Q 2011 |
0.00000 |
0.00000 |
0.00000 |
3Q 2011 |
0.00000 |
0.00000 |
0.00000 |
2Q 2011 |
0.00000 |
0.00000 |
0.00000 |
1Q 2011 |
0.00000 |
0.00000 |
0.00000 |
4Q 2010 |
0.00000 |
0.00000 |
0.00000 |
3Q 2010 |
0.00000 |
0.00000 |
0.00000 |
2Q 2010 |
0.00000 |
0.00000 |
0.00000 |
1Q 2010 |
0.00000 |
0.00000 |
0.00000 |
4Q 2009 |
0.02727 |
0.02727 |
10.73000 |
3Q 2009 |
0.00000 |
0.00000 |
0.00000 |
2Q 2009 |
0.00000 |
0.00000 |
0.00000 |
1Q 2009 |
0.00000 |
0.00000 |
0.00000 |
4Q 2008 |
0.00602 |
0.00602 |
8.23000 |
3Q 2008 |
0.00000 |
0.00000 |
0.00000 |
2Q 2008 |
0.00000 |
0.00000 |
0.00000 |
1Q 2008 |
0.00000 |
0.00000 |
0.00000 |
Most Recent Distributions
For more information about the Funds such as sector weightings, top holdings, credit ratings and distribution rates, please contact Client Services at 800-582-6959.
Each Fund is a series of Calamos Investment Trust. The investment adviser to the Funds is Calamos Advisors LLC. The Calamos Family of Funds offers a range of investment strategies for individual investors with diverse investment objectives and needs. For more information on the Funds, please call 800-582-6959.
Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year Morningstar Rating metrics.
For each U.S.-domiciled fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar data: © 2017 Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.
Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses, or sales charges. Investors cannot invest directly in an index.
Annual Expenses
|
A Shares |
C Shares |
I Shares |
Total Expense Ratio | 1.67 | 2.42 | 1.42 |
Net Expense Ratio | 1.15 | 1.90 | 0.90 |
Transaction Fee | 0.00 | 0.00 | 0.00 |
Redemption Fee | 0.00 | 0.00 | 0.00 |
Investment Information
|
A Shares |
C Shares |
I Shares |
Minimum initial investment | $2,500 | $2,500 | $1 million |
Minimum subsequent investments | $50 | $50 | $0 |
IRA initial investments | $500 | $500 | N/A |
Fund Information
|
A Shares |
C Shares |
I Shares |
Inception Date | 1/02/02 | 1/02/02 | 3/01/02 |
Ticker Symbol | CVAAX | CVACX | CVAIX |
CUSIP number | 128119666 | 128119641 | 128119633 |
Sales & Distribution
|
A Shares |
C Shares |
I Shares |
Sales load | Front-end | Level-load | N/A |
Maximum Sales Charge | 4.75% | 1.00% | N/A |
US Bank Fund Number | 634 | 636 | 637 |
Distributions | Annual dividends; annual capital gains |
For more information about the Funds such as sector weightings, top holdings, credit ratings and distribution rates, please contact Client Services at 800-582-6959.
Each Fund is a series of Calamos Investment Trust. The investment adviser to the Funds is Calamos Advisors LLC. The Calamos Family of Funds offers a range of investment strategies for individual investors with diverse investment objectives and needs. For more information on the Funds, please call 800-582-6959.
Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year Morningstar Rating metrics.
For each U.S.-domiciled fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar data: © 2017 Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.
Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses, or sales charges. Investors cannot invest directly in an index.
Calamos Opportunistic Value Fund Prospectus
This summary contains important information about the Class A, B, C, I, and T Opportunisitic Value Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.
Statutory Prospectus
You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.
SAI
The statement of additional information is a supplementary document to the fund’s prospectus and contains additional information about the fund and includes further disclosure regarding its operations.
Semi Annual Report
The semiannual report includes a letter from John P. Calamos, Sr. to shareholders and provides a comprehensive review of the fund’s activities and financial performance over a six month period.
Annual Report
The annual report includes a letter from John P. Calamos, Sr. to shareholders outlining the fund's performance, as well as a comprehensive review of the fund’s activities and financial performance.
Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year Morningstar Rating metrics.
For each U.S.-domiciled fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar data: © 2017 Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.
Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses, or sales charges. Investors cannot invest directly in an index.