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CVRT

Calamos Convertible Equity Alternative ETF

Important Disclosure

Fund Stats

  • NAV

    $26.74

    $0.20 (0.75%)

    As of 4/26/24

  • Market Price

    $26.65

    As of 4/26/24

  • Daily YTD Return

    0.07%

    As of 4/26/24

  • Total Net Assets

    $13.4 Million

    As of 4/26/24

  • Inception Date

    10/4/23

Calamos Convertible Equity Alternative ETF Overview

The Calamos Convertible Equity Alternative ETF (CVRT) seeks to deliver total returns through capital appreciation and current income, by investing largely in a portfolio of US convertible securities exhibiting a high level of equity sensitivity.

Key Features

  • Delivered by largest US Convertibles Manager1. Firm's first Convertibles ETF, delivering more than four decades of Calamos expertise.
  • Targeted Exposure to Equity-Sensitive Convertibles. CVRT is the first convertible ETF that provides access to the equity-sensitive segment of the US convertibles market.
  • Intelligent ETF with an Active Edge. Incorporates a rules-based approach with an active edge that seeks to capitalize on investment opportunities along the way.

Portfolio Fit

  • For convertible allocations, CVRT may offer greater equity upside potential.

  • For equity allocations, CVRT may provide an improved risk/reward profile and added income advantage relative to owning small and mid-cap growth stocks.

Calamos is the largest manager of convertible securities in the US.1

1FUSE Research, July 2023 based on mutual fund, exchange-traded fund, closed-end fund, and insurance products net assets in the U.S.

Pricing

Fund Details

As of 4/26/24
Detail Value
Ticker CVRT
NAV $26.74
Market Price $26.65
Premium/Discount -0.34%
Exchange NYSE Arca, Inc.
Inception Date 10/04/23

30 Day Median Bid/Ask

As of 4/25/24
30 Day Median Bid/Ask
0.23%

Premium / Discount

As of 4/26/24
Date Value
10/4/2023 0.051246
10/5/2023 0.410912
10/6/2023 0.346118
10/9/2023 0.285689
10/10/2023 0.257765
10/11/2023 0.238923
10/12/2023 0.341328
10/13/2023 0.313228
10/16/2023 0.457925
10/17/2023 0.272032
10/18/2023 0.291407
10/19/2023 0.150365
10/20/2023 0.261891
10/23/2023 -0.047539
10/24/2023 -0.074337
10/25/2023 -0.092412
10/26/2023 0.054275
10/27/2023 -0.064473
10/30/2023 -0.329684
10/31/2023 -0.114149
11/1/2023 -0.154739
11/2/2023 -0.169783
11/3/2023 -0.140196
11/6/2023 -0.132977
11/7/2023 -0.041852
11/8/2023 0.049415
11/9/2023 -0.227891
11/10/2023 -0.245327
11/13/2023 -0.241376
11/14/2023 -0.220658
11/15/2023 -0.20189
11/16/2023 -0.25672
11/17/2023 -0.222393
11/20/2023 -0.204978
11/21/2023 -0.192762
11/22/2023 -0.186286
11/24/2023 -0.107304
11/27/2023 -0.250068
11/28/2023 -0.159801
11/29/2023 -0.257515
11/30/2023 -0.092767
12/1/2023 -0.062439
12/4/2023 -0.129998
12/5/2023 -0.106229
12/6/2023 -0.090175
12/7/2023 -0.052453
12/8/2023 0.163249
12/11/2023 0.133377
12/12/2023 0.183731
12/13/2023 -0.016607
12/14/2023 0.38
12/15/2023 0.19
12/18/2023 0.26
12/19/2023 0.18
12/20/2023 0.34
12/21/2023 0.22
12/22/2023 0.19
12/26/2023 0.26
12/27/2023 0.22
12/28/2023 0.18
12/29/2023 0.3
1/2/2024 0
1/3/2024 0.23
1/4/2024 0.16
1/5/2024 0.16
1/8/2024 -0.08
1/9/2024 0.04
1/10/2024 0.46
1/11/2024 0.15
1/12/2024 -0.11
1/16/2024 0.19
1/17/2024 0.23
1/18/2024 0.27
1/19/2024 0.15
1/22/2024 0.15
1/23/2024 0.11
1/24/2024 0.11
1/25/2024 -0.04
1/26/2024 0.08
1/29/2024 0.19
1/30/2024 0.11
1/31/2024 0.27
2/1/2024 0.11
2/2/2024 0.19
2/5/2024 0.19
2/6/2024 0.08
2/7/2024 0.11
2/8/2024 0.04
2/9/2024 0.04
2/12/2024 0.04
2/13/2024 -0.07
2/14/2024 0.04
2/15/2024 -0.04
2/16/2024 0.04
2/20/2024 -0.04
2/21/2024 -0.19
2/22/2024 -0.04
2/23/2024 0
2/26/2024 0.08
2/27/2024 -0.07
2/28/2024 -0.19
2/29/2024 -0.07
3/1/2024 -0.04
3/4/2024 -0.04
3/5/2024 0.11
3/6/2024 -0.19
3/7/2024 -0.15
3/8/2024 -0.18
3/11/2024 -0.18
3/12/2024 -0.51
3/13/2024 -0.11
3/14/2024 -0.4
3/15/2024 -0.26
3/18/2024 -0.19
3/19/2024 -0.11
3/20/2024 -0.11
3/21/2024 -0.14
3/22/2024 -0.15
3/25/2024 -0.11
3/26/2024 -0.18
3/27/2024 -0.21
3/28/2024 -0.11
4/1/2024 -0.18
4/2/2024 -0.15
4/3/2024 -0.18
4/4/2024 0
4/5/2024 -0.26
4/8/2024 -0.04
4/9/2024 -0.11
4/10/2024 -0.26
4/11/2024 -0.15
4/12/2024 -0.19
4/15/2024 -0.08
4/16/2024 -0.15
4/17/2024 -0.04
4/18/2024 -0.15
4/19/2024 -0.31
4/22/2024 -0.11
4/23/2024 -0.07
4/24/2024 -0.04
4/25/2024 -0.15
4/26/2024 -0.34

Premium and Discount

As of 4/25/24
Calendar Year 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Days Traded at Premium 29 30 0 -- --
Days Traded at Discount 32 31 19 -- --

The above chart presents information about the difference between the daily market price for shares of the ETF and the ETF's net asset value. The market price displayed is the official closing price reported by the exchange​. The vertical axis of the chart shows the premium or discount expressed in basis points (bps). If the fund's market price exceeds its NAV, it is trading at a premium and is expressed by a positive value. If the fund's market price is below the NAV, the ETF is trading at a discount and is represented by a negative value. This value is recorded daily over the time period displayed along the horizontal axis.

Performance

Annualized Total Returns (%)

As of 3/31/24
Name 1-Month 3-Months 1-Year 3-Year 5-Year 10-Year Since Inception (10/04/23)
Calamos Convertible Equity Alternative ETF (Market Price) 2.43 3.50 - - - - 15.40
Calamos Convertible Equity Alternative ETF (NAV) 2.47 3.92 - - - - 15.52
ICE BofA All US Convertibles Index 2.32 2.34 11.34 -0.98 10.27 8.69 9.17
ICE US Core Equity Alternative Convertible Index 2.44 4.15 12.60 -1.21 13.67 - 12.09

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 of an investment will fluctuate so that your shares, when sold, may be worth more or less than their original cost. Returns at NAV reflect the deduction of the Fund's management fee and other expenses, which can be found on the fund fees and expenses tab.You can purchase or sell common shares daily. Like any other stock, market price will fluctuate with the market. Upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment.

Index and Morningstar category data shown reflects full month periods only. If share class inception date is on or before the 15th of the month, the index or category calculation inception date begins on the first day of that month. If share class inception date is after the 15th of the month, the index or category calculation inception date begins on the first day of the following month.

The ICE BofA All US Convertibles Index (VXA0) measures the return of all US convertibles. 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.

The ICE US Core Equity Alternative Convertible Index (VXCEQALT) tracks the performance of equity sensitive (>0.65 delta) publicly issued US dollar denominated convertible securities of US companies.

Unmanaged index returns, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. All performance shown assumes reinvestment of dividends and capital gains distributions.

The funds' expense ratio as of the prospectus dated 10/2/2023 is 0.69%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Portfolio

A list of all fund holdings is made available daily through the link below.

View All Holdings

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.

Sector Weightings

As of 3/31/24
Sector % of Assets ICE BofA All US Convertibles Index
Information Technology 44.0% 26.7%
Consumer Discretionary 14.7% 13.6%
Industrials 11.1% 8.5%
Health Care 6.2% 15.8%
Communication Services 5.1% 7.5%
Energy 5.1% 2.1%
Utilities 4.0% 7.6%
Materials 3.5% 2.5%
Financials 3.0% 11.3%
Real Estate 1.3% 3.2%
Consumer Staples 1.1% 1.3%
Other 0.0% 0.0%

Asset Allocation

As of 3/31/24
Asset Allocation %
Convertibles 99.1442
Cash and Receivables/Payables 0.8558

Top 10 Holdings

As of 3/31/24
Company %
Palo Alto Networks, Inc. 06/01/25 6.2%
Royal Caribbean Cruises, Ltd. 5.6%
MicroStrategy, Inc. 5.1%
Western Digital Corp. 4.0%
Uber Technologies, Inc. 3.7%
Seagate HDD Cayman 3.3%
MongoDB, Inc. 3.2%
Apollo Asset Management, Inc. 3.0%
Nextera Energy, Inc. 2.8%
Zscaler, Inc. 2.6%
Total 39.5%

Fund Facts

As of 3/31/24
Name Fund
Net Assets $13.4 M
Number of Holdings 56
Duration 0.5 years
Median Conversion Premium 6.8%
Median Investment Premium 62.9%

Credit Quality of Bonds

As of 3/31/24
Class %
AAA 0.0%
AA 0.0%
A 2.6%
BBB 7.8%
BB 2.0%
B 0.9%
CCC and below 0.0%
Unrated Securities 86.7%

Maturity Schedule

As of 3/31/24
Range %
< 1 Year 7.8%
1 to 5 Years 82.6%
5 to 10 Years 1.0%
10 to 20 Years 0.0%
20 to 30 Years 0.0%
> 30 Years 0.0%
Equities and Other 8.6%

Yield

Name %
30-day SEC yield
(As of 3/31/24)		 0.14%
Unsubsidized 30-day SEC yield
(As of 3/31/24)		 0.14%
Distribution Yield
(As of 3/31/24)		 2.67%

Distributions

Total Capital Gains

Schedule: ANNUAL
Year Capital Gains
2023 0.0000

Schedule

Name Frequency
Distributions MONTHLY
Capital Gains ANNUAL

Distributions

Schedule: MONTHLY
Frequency Income Reinvest
March 2024 $0.0620
February 2024 $0.0307
January 2024 $0.0000
December 2023 $0.0741

2023 ETF Capital Gains
Calamos Exchange-Traded Funds paid zero capital gains in 2023. To view the report, click here.

Distributions
Distributions for Calamos ETFs are declared monthly. For the latest distribution, click here.

Fees & Expenses

Fees & Expenses

Expense %
Total 0.69%

Fund Information

Name Fund
Inception Date 10/04/23
Ticker Symbol CVRT
CUSIP number 12811T308

Literature

About the Fund

Calamos Convertible Equity Alternative ETF Fact Sheet

The Calamos Convertible Equity Alternative ETF fact sheet provides a snapshot of the investment team and product strategy.

Calamos Convertible Equity Alternative ETF (CVRT) Investment Team Outlook

CVRT’s ETF portfolio includes equity-sensitive convertible securities from a range of sectors. We believe the convertible market is set for a win-win scenario because issuers can realize lower borrowing costs by issuing convertibles instead of traditional bonds, and investors can benefit from more normal coupon rates and lower conversion premiums.

Prospectus and Reports

Calamos Convertible Equity Alternative ETF Prospectus

This summary contains important information about the Calamos Convertible Equity Alternative ETF investment objective, fees and expenses, principal investment strategies, principal risks and performance.

Calamos Convertible Equity Alternative ETF 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.

Calamos Convertible Equity Alternative ETF 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.

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

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 1-866-363-9219. Read it carefully before investing.

©2024 Calamos Investments LLC. All Rights Reserved. Calamos®, Calamos Investments® and Investment strategies for your serious money® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Financial Services LLC and Calamos Antetokounmpo Asset Management LLC.

The personal data collected by Calamos on this website, or by any other means, is collected and stored in accordance with the General Data Protection Regulation (EU) 2016/679 ("GDPR").

Important Legal Information | Privacy Policy | Business Continuity | Code of Business Conduct and Ethics | ERISA 408(b)(2)

Important Fund Information

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 1-866-363-9219. Read it carefully before investing.

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.

Authorized Participant Concentration Risk - Only an Authorized Participant may engage in creation or redemption transactions directly with the Fund, and none of those Authorized Participants is obligated to engage in creation and/or redemption transactions. Convertible Securities Risk - The value of a convertible security is influenced by changes in interest rates, with investment value declining as interest rates increase and increasing as interest rates decline. Debt Securities Risk - Debt securities are subject to various risks, including interest rate risk, credit risk and default risk. Equity Securities Risk - The securities markets are volatile, and the market prices of the Fund's securities may decline generally. Foreign Securities Risk - Risks associated with investing in foreign securities include fluctuations in the exchange rates of foreign currencies that may affect the US dollar value of a security, the possibility of substantial price volatility as a result of political and economic instability in the foreign country, less public information about issuers of securities, different securities regulation, different accounting, auditing and financial reporting standards and less liquidity than in US markets. High Yield Risk - High yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") are subject to greater levels of credit and liquidity risks. New Fund Risk - The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Options Risk - The Fund's ability to close out its position as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the option market. Non-Diversification Risk - The Fund is classified as "non-diversified" under the 1940 Act. As a result, the percentage of fund assets that may be invested in the securities of any one issuer is limited by the diversification requirements imposed by the Internal Revenue Code of 1986, as amended. Portfolio Turnover Risk - The portfolio managers may actively and frequently trade securities or other instruments in the Fund's portfolio to carry out its investment strategies. Small and Mid-Sized Company Risk - Small and mid-sized company stocks have historically been subject to greater investment risk than large company stocks. Synthetic Convertible Instruments Risk - The value of a synthetic convertible instrument will respond differently to market fluctuations than a convertible security because a synthetic convertible instrument is composed of two or more separate securities, each with its own market value.

The ICE BofA All US Convertibles Index (VXA0) measures the return of all US convertibles. 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.

The ICE US Core Equity Alternative Convertible Index (VXCEQALT) tracks the performance of equity sensitive (>0.65 delta) publicly issued US dollar denominated convertible securities of US companies.

The funds' expense ratio as of the prospectus dated 10/2/2023 is 0.69%.

Notes

30-day 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.

Distribution yield is calculated by annualizing the Fund's most recent distribution paid and dividing by the Fund's NAV as of the date of the period presented. Distributions may include interest and/or dividend income that represents the income accrued by the Fund during the period and are not guaranteed. Distribution Yield is based on distributions made in the past and therefore may not be reflective of the Fund's current portfolio.

Market price refers to the price at which shares of the fund trade in the market.

NAV or Net asset value refers to the net value of all the assets held in the fund on a per share basis.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by S&P Global Market Intelligence LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. "CUSIP" is a registered trademark of the American Bankers Association.

Duration is a measurement of a bond's interest rate risk that considers a bond's maturity, yield, coupon and call features. The maturity date refers to the moment in time when the principa l of a fixed income instrument must be repaid to an investor.

Conversion premium is the amount by which the market price of a convertible bond or convertible preferred exceeds the conversion value, expressed as a percentage. It is a gauge of equity participation.

Investment premium is the amount that the market price of the convertible is above its investment value, expressed as a percentage. It is a gauge of equity participation.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE