Calamos Convertible Fund (CCVCX)

Overview

The fund invests primarily in convertible securities of U.S. companies that are diversified across market sectors and credit quality.

Key Features

  • Leverages more than four decades of research in convertible security investing
  • Provides diversification across market sectors and credit quality, emphasizing mid-sized companies with higher-quality balance sheets
  • Seeks to provide upside participation in equity markets with less exposure to downside than an equity-only portfolio over a full market cycle
  • Takes environmental, social and governance (ESG) factors into account, evaluating whether they impact a company's cash flow, risk profile and long-term returns

Portfolio Fit

When used in conjunction with an equity allocation, the fund offers a potential way to manage risk by employing securities that engage in upside equity movements with limited downside participation.

Return on Invested Capital

As of 9/30/19
Name Gain
Fund 13.9895
ICE BofAML VXA0 - Convertibles Index 11.7834

Debt/Capital

As of 9/30/19
Name Gain
Fund 44.8023
ICE BofAML VXA0 - Convertibles Index 50.7932

Important Fund 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 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.

Notes

Debt/Capital Ratio-Is a measure of a company's financial leverage, calculated as the company's debt divided by its total capital.

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.

The ICE BofAML All U.S. Convertibles Index (VXA0) comprises approximately 700 issues of only convertible bonds and preferreds of all qualities. Source ICE Data Indices, LLC, used with permission. ICE permits use of the ICE BofAML indices and related data on an 'as is' basis, makes no warranties regarding same, does not guarantee the suitability, quality, accuracy, timeliness, and/or completeness of the ICE BofAML Indices or data included in, related to, or derived therefrom, assumes no liability in connection with the use of the foregoing and does not sponsor, endorse or recommend Calamos Advisors LLC or any of its products or services.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/2019 are as follows: A Shares 1.17%, C Shares 1.92% and I Shares 0.92%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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.

Fund Details
As of 11/19/19
Inception Date: 7/05/96
Current NAV: $17.63
$ Change: $0.05
% Change: 0.28%
Total Net Assets (As of 9/30/19): $732.8 M
Morningstar Category: Convertibles

Zephyr Analysis

Zephyr Analysis

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Resources

Calendar Year Total Returns

As of 9/30/19
Date Calamos Convertible Fund (NAV) Calamos Convertible Fund Load-Adjusted S&P 500 Index ICE BofAML All U.S. Convertibles Index
YTD 2019 11.37 10.37 20.55 14.68
2018 -0.26 -1.14 -4.38 0.16
2017 13.44 12.44 21.83 13.7
2016 3.69 2.69 11.96 10.43
2015 -4.59 -5.5 1.38 -2.99
2014 4.15 3.17 13.69 9.44
2013 19.52 18.52 32.39 24.92
2012 4.69 3.74 16 14.96
2011 -4.71 -5.59 2.11 -5.18
2010 10.02 9.02 15.06 16.77
2009 32.99 31.99 26.46 49.13
2008 -26.41 -27.14 -37 -35.73
2007 9.01 8.01 5.49 4.53
2006 8.33 7.34 15.79 12.83
2005 2.08 1.17 4.91 1.01
2004 6.68 5.68 10.88 9.61
2003 24.12 23.12 28.68 27.15
2002 -5.3 -6.24 -22.1 -8.58
2001 -4.95 -5.87 -11.89 -4.44
2000 7.24 6.3 -9.1 -10.01
1999 34.45 33.45 21.04 39.56
1998 11.14 10.14 28.58 8.93
1997 20.26 19.26 33.36 19.57
1996* 9.15 8.15 0 0

*Reflects the fund's return from the inception date of 7/5/1996 through 12/31/1996.

Annualized Total Returns

As of 9/30/19
TimeFrame Calamos Convertible Fund (NAV) Calamos Convertible Fund Load-Adjusted S&P 500 Index ICE BofAML All U.S. Convertibles Index
6 Month 2.67 1.67 6.08 4.01
1 Year 2.13 1.23 4.25 4.01
3 Year 7.87 7.87 13.39 10.06
5 Year 4.78 4.78 10.84 7.29
10 Year 5.77 5.77 13.24 9.94
15 Year 5.17 5.17 9.01 7.51
20 Year 6.02 6.02 6.33 6.91
Since Inception 7.2 7.2 8.75 7.91

Important Fund 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 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.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25%. Had it been included, the Fund's return would have been lower.

The ICE BofAML All U.S. Convertibles Index (VXA0) comprises approximately 700 issues of only convertible bonds and preferreds of all qualities. Source ICE Data Indices, LLC, used with permission. ICE permits use of the ICE BofAML indices and related data on an 'as is' basis, makes no warranties regarding same, does not guarantee the suitability, quality, accuracy, timeliness, and/or completeness of the ICE BofAML Indices or data included in, related to, or derived therefrom, assumes no liability in connection with the use of the foregoing and does not sponsor, endorse or recommend Calamos Advisors LLC or any of its products or services.

S&P 500 Index-Is generally considered representative of the U.S. stock market.

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.

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' gross expense ratios as of the prospectus dated 3/1/2019 are as follows: A Shares 1.17%, C Shares 1.92% and I Shares 0.92%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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.

Sector Weightings

As of 9/30/19
Sector % of Assets ICE BofAML VXA0 - Convertibles Index
Information Technology 36.8% 33.2%
Health Care 18.0% 17.4%
Communication Services 12.6% 10.2%
Financials 8.6% 11.8%
Consumer Discretionary 8.5% 8.2%
Utilities 5.1% 5.9%
Real Estate 2.7% 4.2%
Industrials 2.6% 4.6%
Energy 1.3% 2.7%
Consumer Staples 0.0% 0.8%
Materials 0.0% 0.9%

Asset Allocation

As of 9/30/19
Asset Allocation
Convertibles 95.1508
Synthetic Convertibles 1.9445
Cash and Receivables/Payables 1.9402
Common Stock 0.8173
Options 0.1472

Month-End Yield

As of 10/31/19
Name %
30-day SEC yield -0.67%
Distribution Yield 11.78%

Top 10 Holdings

As of 9/30/19
Company Security Type Industry %
Wells Fargo & Company Convertible Preferred Stocks Diversified Banks 2.9%
Microchip Technology, Inc. Convertible Bonds Semiconductors 2.7%
Twitter, Inc. Convertible Bonds Interactive Media & Services 2.6%
Palo Alto Networks, Inc. Convertible Bonds Systems Software 2.4%
Proofpoint, Inc. Convertible Bonds Systems Software 2.2%
Bank Of America Corp. Convertible Preferred Stocks Diversified Banks 2.1%
Broadcom, Inc. DECS,ACES,PRIDES Semiconductors 2.1%
Splunk, Inc. Convertible Bonds Application Software 2.1%
NXP Semiconductors, NV Convertible Bonds Semiconductors 2.0%
Insulet Corp. Convertible Bonds Health Care Equipment 2.0%
Total 23.1%

Fund Facts

As of 9/30/19
Name Fund ICE BofAML VXA0 - Convertibles Index
Number of Holdings 114 417
Debt/Capital 44.8% 50.8%
Duration 2.5 years N/A
Median Conversion Premium 27.1% 36.0%
Median Investment Premium 21.3% 6.9%
PEG Ratio 0.7x N/A
Portfolio Turnover (12 months) 44.8% N/A
Price/Book 2.2x N/A
Price/Earnings 14.2x N/A
Price/Sales 0.6x N/A
ROIC 14.0% 11.8%
Net Assets $732.8 M N/A

Credit Quality of Bonds

As of 9/30/19
Class %
AAA 1.7%
AA 1.0%
A 3.3%
BBB 8.7%
BB 7.8%
B 7.2%
CCC and below 0.0%
Unrated Securities 70.3%

Maturity Schedule

As of 9/30/19
Range %
< 1 Year 7.1%
1 to 5 Years 48.5%
5 to 10 Years 25.1%
10 to 20 Years 1.7%
20 to 30 Years 0.0%
> 30 Years 0.0%
Equities and Other 17.7%

Top Currency Exposures

As of 9/30/19
Currency %
United States Dollar (USD) 100.0%

Important Fund 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 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.

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.

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.

Notes

Bond Credit Quality allocation reflects the higher of the ratings of Standards & Poor's Corporation or Moody's Investors Service, Inc. Ratings are relative, subjective and not absolute standards of quality, represent the opinions of the independent, Nationally Recognized Statistical Rating Organizations (NRSRO), and are adjusted to the Standards & Poor's scale shown. Ratings are measured using a scale that typically ranges from AAA (highest) to D (lowest). The security's credit rating does not eliminate risk. The table excludes equity securities, cash and cash equivalents. For more information about securities ratings, please see the Fund's Statement of Additional Information at calamos.com. Additional information on ratings methodologies are available by visiting the NRSRO websites: www.standardandpoors.com and www.moodys.com.

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.

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.

Distribution Yield -Is calculated by dividing the sum of all distributions paid by the fund over the trailing 12 months by the fund's NAV as of the date of the period presented. Distributions may include income, short-term capital gains, and long-term capital gains. Short-term and long-term capital gains represent the net trading profits realized over the trailing 12 months in the fund and are not guaranteed. Distribution Yield is based on distributions made in the past and is therefore not reflective of the fund's current portfolio.

Duration- provides a measure of the Fund's interest rate sensitivity-the longer a fund's duration, the more sensitive it is to shifts in interest rates

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.

PEG Ratio-Is a stock's 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 the 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 a stock's capitalization divided by its sales over the trailing 12 months. 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.

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.

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.

The ICE BofAML All U.S. Convertibles Index (VXA0) comprises approximately 700 issues of only convertible bonds and preferreds of all qualities. Source ICE Data Indices, LLC, used with permission. ICE permits use of the ICE BofAML indices and related data on an 'as is' basis, makes no warranties regarding same, does not guarantee the suitability, quality, accuracy, timeliness, and/or completeness of the ICE BofAML Indices or data included in, related to, or derived therefrom, assumes no liability in connection with the use of the foregoing and does not sponsor, endorse or recommend Calamos Advisors LLC or any of its products or services.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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.

Total Capital Gains

Year Capital Gains
2008 0.0337
2009 0.0000
2010 0.6091
2011 1.4755
2012 1.5585
2013 1.3264
2014 0.8824
2015 0.2719
2016 0.0000
2017 0.5314
2018 1.8205

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

Distributions

Frequency Income Total Reinvest
Q3 2019 $0.0241 $0.0241 17.30000
Q2 2019 $0.0000 $0.0000 16.89000
Q1 2019 $0.0000 $0.0000 16.67000
Q4 2018 $0.1894 $0.1894 15.19000
Q3 2018 $0.0361 $0.0361 18.97000
Q2 2018 $0.0286 $0.0286 18.86000
Q1 2018 $0.0280 $0.0280 18.41000
Q4 2017 $0.0106 $0.0106 17.42000
Q3 2017 $0.0000 $0.0000 17.57000
Q2 2017 $0.0229 $0.0229 17.23999
Q1 2017 $0.0534 $0.0534 16.61000
Q4 2016 $0.1250 $0.1250 15.98000
Q3 2016 $0.1315 $0.1315 15.90000
Q2 2016 $0.0692 $0.0692 15.50000
Q1 2016 $0.0091 $0.0091 14.98000
Q4 2015 $0.2267 $0.2267 15.62000
Q3 2015 $0.1597 $0.1597 16.82000
Q2 2015 $0.1218 $0.1218 17.77000
Q1 2015 $0.0899 $0.0899 17.75000
Q4 2014 $0.0747 $0.0747 17.32000
Q3 2014 $0.0845 $0.0845 18.49000
Q2 2014 $0.0088 $0.0088 18.47000
Q1 2014 $0.0735 $0.0735 18.24000
Q4 2013 $0.3181 $0.3181 17.43000
Q3 2013 $0.0000 $0.0000 0.00000
Q2 2013 $0.0000 $0.0000 0.00000
Q1 2013 $0.0000 $0.0000 0.00000
Q4 2012 $0.0000 $0.0000 16.37000
Q3 2012 $0.0000 $0.0000 0.00000
Q2 2012 $0.0000 $0.0000 16.82000
Q1 2012 $0.0105 $0.0105 18.09000
Q4 2011 $0.0000 $0.0000 17.02000
Q3 2011 $0.0000 $0.0000 0.00000
Q2 2011 $0.0978 $0.0978 19.36000
Q1 2011 $0.0000 $0.0000 0.00000
Q4 2010 $0.0467 $0.0467 19.36000
Q3 2010 $0.0759 $0.0759 18.86000
Q2 2010 $0.2056 $0.2056 18.51000
Q1 2010 $0.1119 $0.1119 19.11000
Q4 2009 $0.1653 $0.1653 18.48000
Q3 2009 $0.1078 $0.1078 18.34000
Q2 2009 $0.1108 $0.1108 16.23000
Q1 2009 $0.0907 $0.0907 14.57000
Q4 2008 $0.0835 $0.0835 14.21000
Q3 2008 $0.0000 $0.0000 0.00000
Q2 2008 $0.0000 $0.0000 0.00000
Q1 2008 $0.0000 $0.0000 0.00000

Important Fund 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 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.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/2019 are as follows: A Shares 1.17%, C Shares 1.92% and I Shares 0.92%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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.

Annual Expenses

Name A Shares C Shares I Shares
Gross Expense Ratio 1.17% 1.92% 0.92%
Net Expense Ratio 1.17% 1.92% 0.92%

Investment Information

Name A Shares C Shares I Shares
Minimum initial investment $2500 $2500 $1 million
Minimum subsequent investments $50 $50 $0
IRA initial investments $500 $500 N/A

Fund Information

Name A Shares C Shares I Shares
Inception Date 6/21/85 7/05/96 6/25/97
Ticker Symbol CCVIX CCVCX CICVX
CUSIP number 128119401 128119823 128119864

Sales & Distribution

Name A Shares C Shares I Shares
Sales Load Front-End Level-Load N/A
Maximum Sales Charge 2.25 1.00 N/A
US Bank Fund Number 603 617 627
Dividends QUARTERLY QUARTERLY QUARTERLY
Capital Gains ANNUAL ANNUAL ANNUAL

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 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.

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.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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-convertible-fund-mutual-fund-quarterly-commentary.pdf
Calamos Convertible Fund Quarterly Commentary

A quarterly update of the Calamos Convertible Fund’s performance, positioning, related market commentary and outlook.

calamos-convertible-fund-mutual-fund-fact-sheet.pdf
Calamos Convertible Fund Fact Sheet

The Convertible Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.

case-for-strategic-convertible-allocations.pdf
The Case for Strategic Convertible Allocations

John P. Calamos, Sr. and Eli Pars discuss the role of convertible securities within portfolios, the value of active management, and encouraging global trends within the convertible market.

opportunity-of-convertible-securities.pdf
The Opportunity of Convertible Securities

Like stocks, convertibles typically offer upside appreciation in rising equity markets. Like bonds, convertibles provide income and potential downside protection in declining markets.

calamos-convertible-fund-managing-risk-over-market-cycles-over-20-years.pdf
CICVX—Managing Risk Over Market Cycles Over 20 Years

Here’s how Calamos Convertible Fund has managed risk during market cycles including the Great ‘90s Bull Market, the Internet Bubble Crash and recovery, and the Financial Crisis and recovery.

calamos-convertibles-can-ehance-fixed-income-allocation.pdf
Convertibles Can Enhance a Fixed Income Allocation

Convertible bonds are a viable alternative to fixed income and have outperformed during periods of economic growth and rising rate.

ConvertibleSecurities.pdf
Convertible Securities: Structures, Valuation, Market Environment, and Asset Allocation

A comprehensive overview of convertible securities, including history, structures, valuation, market environment, and roles within asset allocation.

calamos-mutual-funds-rising-rates-sales-idea.pdf
Preparing Your Portfolio for Rising Rates

The Fed’s decision to raise interest rates can cause headwinds for portfolios with traditional fixed-income securities. Convertible securities can potentially diversify asset allocations beyond bonds and stocks.

Calamos_vs_Different_Market_Periods_SalesIdea.pdf
Calamos Strategies for Different Market Periods

Illustration of equity alternatives performance in down markets and fixed income alternative performance in rising interest rate environments.

calamos-convertible-fund-mutual-fund-summary-prospectus.pdf
Calamos Convertible Fund Prospectus

This summary contains important information about the Class A, C, and I Convertible Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.

calamos-mutual-fund-statutory-prospectus.pdf
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-mutual-fund-sai.pdf
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-mutual-funds-semi-annual-report.pdf
Semi-Annual Report

The semi-annual 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.

calamos-mutual-funds-annual-report.pdf
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.