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Top Performance in a Historically Challenging Year

First published: July 10, 2020

Last year will forever be remembered for the global pandemic that took millions of lives and shut down economies as a means of stopping the spread and sparing more loss of life. For investors, markets were uncertain and volatile to the extreme.

From wherever the source, market volatility is something that Calamos’ risk-managed approach anticipates. Since our founding in 1977, we’ve sought to create portfolios with risk-reward profiles appropriate for investors looking for a potentially smoother ride through uncertain equity markets.

Managing volatility is our specialty, and we welcome the opportunity to help you with your clients’ conversations and investment plans. Your rough patch, as we like to say, is our sweet spot.

For the twelve-month period ending 12/31/2020, Class I Shares

83% of Calamos funds beat their peers in their respective Morningstar categories, including:

  • 100% of Calamos liquid alternative funds
  • 50% of Calamos convertible funds
  • 100% of Calamos global/international funds

72% of Calamos funds beat their benchmarks, including:

  • 100% of Calamos convertible funds
  • 100% of Calamos global/international funds
TOP-PERFORMING CALAMOS FUNDS
12/31/2020
 
Top Quartile
Category Rank I Shares
Shading denotes top quartile
CLASS I SHARES AS OF 12/31/20 Morningstar Category Overall Morningstar Rating YTD
1/1/2020-12/31/2020
1-year
1/1/2020-12/31/2020
3-year
1/1/2018-12/31/2020
5-year
1/1/2016-12/31/2020
ALTERNATIVE
Calamos Market Neutral Income Fund (CMNIX) Market Neutral
5 Stars
34 34 28 20
Number of funds 92 96 96 92 72
Calamos Hedged Equity Fund (CIHEX) Options-based
5 Stars
33 33 15 12
Number of funds 113 191 191 113 70
Calamos Phineus Long/Short Fund (CPLIX) Long-Short Equity
3 Stars
20 20 38 N/A
Number of funds 188 209 209 188 N/A
CONVERTIBLE
Calamos Convertible Fund (CICVX) Convertibles
3 Stars
28 28 43 44
Number of funds 71 76 76 71 69
Calamos Global Convertible Fund (CXGCX) Convertibles
2 Stars
60 60 76 74
Number of funds 71 76 76 71 69
U.S. EQUITY
Calamos Growth & Income Fund (CGIIX) Allocation—70%-85% Equity
5 Stars
5 5 4 4
Number of funds 308 325 325 308 278
Calamos Timpani Small Cap Growth Fund (CTSIX) Small Growth
4 Stars
12 12 22 21
Number of funds 576 616 616 576 505
GLOBAL EQUITY
Calamos Evolving World Growth (CNWIX) Diversified Emerging Markets
5 Stars
3 3 4 17
Number of funds 697 796 796 697 597
Calamos Global Equity Fund (CIGEX) World Large Stock
4 Stars
8 8 15 13
Number of funds 760 867 867 760 631
Calamos Global Growth & Income (CGCIX) World Allocation
5 Stars
1 1 1 1
Number of funds 402 472 472 402 350
Calamos International Growth Fund (CIGIX) Foreign Large Growth
4 Stars
8 8 14 14
Number of funds 384 447 447 384 313

Past performance is no guarantee of future results. Morningstar category rank is based on average annualized returns since I share inception. Risk-adjusted returns based on load-waived Class I Shares.

12/31/20 3 years # of funds 5 years # of funds 10 years # of funds
CMNIX Inception: 5/10/00
4 Stars
92
4 Stars
72
5 Stars
23
CIHEX Inception: 12/31/14
4 Stars
113
5 Stars
70 N/A N/A
CPLIX Inception: 5/01/02
3 Stars
188 N/A N/A N/A N/A
CICVX Inception: 6/25/97
3 Stars
71
3 Stars
69
3 Stars
50
CXGCX Inception: 12/31/14
3 Stars
71
2 Stars
69 N/A N/A
CGIIX Inception: 9/18/97
5 Stars
308
5 Stars
278
5 Stars
188
CTSIX Inception 3/23/11
4 Stars
576
4 Stars
505 N/A N/A
CNWIX Inception: 8/15/08
5 Stars
697
4 Stars
597
5 Stars
278
CIGEX Inception: 3/01/07
4 Stars
760
4 Stars
631
4 Stars
385
CGCIX Inception: 9/18/97
5 Stars
402
5 Stars
350
5 Stars
208
CIGIX Inception: 3/16/05
4 Stars
384
4 Stars
313
4 Stars
226

For more information, contact your Calamos Investment Consultant at 888-571-2567 or caminfo@calamos.com.

Click here to view CMNIX's standardized performance.

Click here to view CIHEX's standardized performance.

Click here to view CPLIX's standardized performance.

Click here to view CICVX's standardized performance.

Click here to view CXGCX’s standardized performance.

Click here to view CGIIX's standardized performance.

Click here to view CTSIX's standardized performance.

Click here to view CNWIX’s standardized performance.

Click here to view CIGEX's standardized performance.

Click here to view CGCIX's standardized performance.

Click here to view CIGIX's standardized performance.

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.

The principal risks of investing in Calamos Market Neutral Income Fund include: equity securities risk consisting of market prices declining in general, convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk, convertible hedging risk, covered call writing risk, options risk, short sale risk, interest rate risk, credit risk, high yield risk, liquidity risk, portfolio selection risk, and portfolio turnover risk.

The principal risks of investing in the Calamos Hedged Equity Fund include: covered call writing risk, options risk, equity securities risk, correlation risk, mid-sized company risk, interest rate risk, credit risk, liquidity risk, portfolio turnover risk, portfolio selection risk, foreign securities risk, American depository receipts, and REITs risks. As of March 1, Calamos Hedged Equity Income Fund’s name has been changed to Calamos Hedged Equity Fund.

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.

The principal risks of investing in the Calamos Convertible Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, equity securities risk, interest rate risk, credit risk, high yield risk, portfolio selection risk and liquidity 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.

The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, mid-size company risk, small company risk, portfolio turnover 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.

The principal risks of investing in the Calamos Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, equity securities risk, growth stock risk, small and mid-sized company risk, interest rate risk, credit risk, liquidity risk, high yield risk, forward foreign currency contract risk and portfolio selection risk.

The principal risks of investing in the Calamos Timpani Small Cap Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, and portfolio selection risk. The Fund invests in small capitalization companies, which are often more volatile and less liquid than investments in larger companies. 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.

The principal risks of investing in the Calamos Evolving World Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, 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.

The principal risks of investing in the Calamos Global Equity Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, value stock risk, foreign securities risk, forward foreign currency contract risk, emerging markets risk, small and mid-sized company 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.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk, forward foreign currency contract risk, portfolio selection risk, and liquidity 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.

The principal risks of investing in the Calamos International Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, small and mid-sized company 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.

Morningstar Market Neutral Category represent 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 Long/Short Equity Category funds take a net long stock position, meaning the total market risk from the long positions is not completely offset by the market risk of the short positions. Total return, therefore, is a combination of the return from market exposure (beta) plus any value-added from stock-picking or market-timing (alpha).

Morningstar Convertibles Category funds are designed to offer some of the capital appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. To do so, they focus on convertible bonds and convertible preferred stocks. Convertible bonds allow investors to convert the bonds into shares of stock, usually at a preset price. These securities thus act a bit like stocks and a bit like bonds.

Morningstar Allocation—70% to 85% Equity Category 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%.

Morningstar Small Growth Category includes small-growth portfolios that focus on faster-growing companies whose shares are at the lower end of the market-capitalization range.

The Morningstar Diversified Emerging Markets Category is comprised of funds with at least 50% of assets invested in emerging markets.

The Morningstar World Large Stock Category comprises international funds having 20% to 60% of assets invested in the United States.

The Morningstar World Allocation Category is comprised of funds that seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds and cash.

The Morningstar Foreign Large Growth Category is comprised of funds that seek capital appreciation by investing in large international stocks that are growth-oriented.

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