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Day by Day: How CPLIX Has Bested the Market YTD

In this market, every day is a battle—a fight to end the day positive or, if not positive, less negative than others.

S&P 500 mix of positive negative days ytd

Here’s how Calamos Phineus Long/Short Fund (CPLIX) has performed on that score this year:

  • The S&P 500 ended the day in the red 93 of 167 trading days as of August 31, or 56% of the time.
  • On those down days in the market, CPLIX finished in the green 24% of the time (22 days).
  • On 58 of those down days, almost two-thirds of the time (62%), the fund outperformed—i.e., finished positive or finished negative but not as negative relative to the S&P 500.

How do you help your clients remain invested and committed to the long term during volatile markets such as what’s been experienced this year? Many investment professionals have turned to CPLIX for the fund’s stated objective of pursuing equity-like returns with a superior risk profile over full market cycles.

Through the end of August this year, the team managed by Michael Grant, Co-CIO, Head of Long/Short Strategies, and Senior Co-Portfolio Manager, has battled and won more days than the broad market, resulting in CPLIX’s year-to-date return of -1.65% versus the S&P’s loss of -16.14%. That’s a 1449 basis point outperformance.

CPLIX vs S&P 500 YTD

“I never want [CPLIX] to be the problem fund in a client’s portfolio. I want investment professionals to have three or four or five other funds that they have to explain before they get to our fund,” Grant has said (see post)—and delivered on year to date.

The fund has mitigated market volatility through the use of a 20-year risk managed strategy that’s outperformed both domestic and global equity markets during that time. The intent: to help clients feel comfortable about staying invested over the long haul.

For more information on CPLIX, including Grant’s outlook for the rest of the year and next, contact your Calamos Investment Consultant at 800-582-6959 or

Before investing carefully consider the fund’s investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Calamos Phineus Long/Short Fund average annual returns and expense ratio

The principal risks of investing in the Calamos Phineus Long/Short Fund include: equity securities risk consisting of market prices declining in general, short sale risk consisting of potential for unlimited losses, foreign securities risk, currency risk, geographic concentration risk, other investment companies (including ETFs) risk, derivatives risk, options risk, and leverage 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.

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