Alternative: Market Neutral

CMNIX

Market Neutral Income Fund
5 Stars

Among 95 Market Neutral funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 4 stars for 3 years, 5 stars for 5 years and 5 stars for 10 years out of 95, 74 and 20 Market Neutral Funds, respectively, for the period ended 8/31/2020.

Core market strategies include covered call writing and convertible arbitrage. Together, these strategies are intended to provide the fund with an enhanced potential for risk-managed returns due to their differing responses to volatility.

Alternative: Options-based

CIHEX

Hedged Equity Fund
5 Stars

Among 113 Options-based funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 5 stars for 3 years and 5 stars for 5 years out of 113 and 69 Options-based Funds, respectively, for the period ended 8/31/2020.

Aims to achieve the total return of equity markets with lower volatility. It utilizes a covered call strategy, which invests in a diversified portfolio of equities while using options to generate income and manage risk.

U.S. EQUITY: U.S. EQUITIES AND CONVERTIBLES

CGIIX

Growth and Income Fund
5 Stars

Among 301 Allocation--70% to 85% Equity funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 5 stars for 3 years, 5 stars for 5 years and 5 stars for 10 years out of 301, 279 and 188 Allocation--70% to 85% Equity Funds, respectively, for the period ended 8/31/2020.

The fund invests primarily in U.S. equity and convertible securities in an attempt to balance risk/reward while providing growth and income.

On the Blogs

Investment Ideas

CIHEX Team Looks for the Opportunities in This Irregular Market Up/Volatility Up Environment

September 18, 2020

The team is on alert to take advantage of dislocations that may present themselves in a market that includes plenty of anomalies and as we head toward the third quarter earnings season and the national elections.

See All Posts

Investment Team Voices

Calamos CEFs: Unusual Dynamics Signal Rare Opportunities for Income-oriented Investors

September 17, 2020

As investors face the challenge of a low interest rate environment, Calamos closed-end funds have distribution histories and current distribution levels that make them a compelling choice for income-oriented investors. Additionally, current market prices offer an attractive opportunity for long-term investors.

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Featured Newsletters

Newsletter

Calamos Alternative Snapshot

September 21, 2020

Navigating the Anomalies in the Options Market

All About Convertible Securities

Our Convertible Securities: Structures, Valuation, Market Environment and Asset Allocation guide is a resource on how convertible bonds work. It’s written by Calamos Founder, Chairman and Global Chief Investment Officer John P. Calamos, Sr.

The Morningstar Market Neutral Category represents funds that attempt to eliminate the risks of the market by holding 50% of assets in long positions in stocks and 50% of assets in short positions.

Morningstar Options-Based Category represents funds that generate a significant portion of their returns from the collection of premiums on options contracts sold.

Morningstar Allocation—70% to 85% Equity funds seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds and cash. These portfolios are dominated by domestic holdings and have equity exposures between 70% and 85%.