Fund Stats

  • NAV

    $18.59

    $0.34 (1.86%)

    As of 6/24/22

  • Daily YTD Return

    20.73%

    As of 6/24/22

  • Total Net Assets

    $1.3 Billion

    As of 3/31/22

  • Inception Date

    6/21/85

Overview

Leveraging more than four decades of experience in convertibles, the fund invests primarily in convertible securities of US and foreign companies without regard to market cap.

Key Features

  • Provides diversification across market sectors and credit quality, emphasizing midsize 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.

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Performance

Calendar Year Total Returns

As of 3/31/22
Date Calamos Convertible Fund (NAV) Calamos Convertible Fund Load-Adjusted ICE BofA All US Convertibles Index S&P 500 Index
YTD 2022 -7.25 -9.33 -5.41 -4.6
2021 5.22 2.83 6.34 28.71
2020 48.45 45.11 46.22 18.4
2019 19.18 16.47 23.15 31.49
2018 0.5 -1.78 0.15 -4.38
2017 14.33 8.92 13.7 21.83
2016 4.39 -0.56 10.43 11.96
2015 -3.83 -8.38 -2.99 1.38
2014 4.94 -0.03 9.44 13.69
2013 20.37 14.64 24.92 32.39

Annualized Total Returns

As of 3/31/22 As of 5/31/22
TimeFrame Calamos Convertible Fund (NAV) Calamos Convertible Fund Load-Adjusted ICE BofA All US Convertibles Index S&P 500 Index
1 Year -3.81 -5.96 -2.21 15.65
3 Year 16.7 15.81 18 18.92
5 Year 13.49 12.97 14.39 15.99
10 Year 9.53 9 12.16 14.64
Since Inception 9.52 9.38 0 11.47
TimeFrame Calamos Convertible Fund (NAV) Calamos Convertible Fund Load-Adjusted ICE BofA All US Convertibles Index S&P 500 Index
1 Year -14.44 -16.37 -12.83 -0.3
3 Year 12.76 11.92 14.14 16.44
5 Year 10.47 9.97 11.58 13.38
10 Year 9.21 8.68 11.57 14.4
Since Inception 9.15 9.01 8.53 11.15

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 3/1/2022 are as follows: A Shares 1.08%, C Shares 1.83% and I Shares 0.83%.

S&P 500 Index is generally considered representative of the US stock market.

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

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.

Class I shares are offered primarily for direct investment by investors through certain tax-exempt retirement plans and by institutional clients, provided such plans or clients have assets of at least $1 million. For eligibility requirements and other available share classes see the prospectus and other Fund documents at www.calamos.com.

Portfolio

Sector Weightings

As of 3/31/22
Sector % of Assets ICE BofA All US Convertibles Index
Information Technology 34.6% 32.3%
Consumer Discretionary 18.2% 13.0%
Health Care 17.7% 16.1%
Communication Services 9.6% 11.0%
Industrials 5.8% 6.2%
Utilities 3.5% 6.4%
Materials 2.5% 1.4%
Energy 2.1% 3.0%
Financials 2.1% 7.3%
Real Estate 0.5% 2.6%
Consumer Staples 0.4% 0.8%
Other 0.0% 0.0%

Asset Allocation

As of 3/31/22
Asset Allocation %
Convertibles 96.9802
Cash and Receivables/Payables 3.0198
Common Stock 0

Month-End Yield

As of 5/31/22
Name %
30-day SEC yield 1.29%
Unsubsidized 30-day SEC yield 1.29%
Distribution Yield 16.36%

Top 10 Holdings

As of 3/31/22
Company Security Type Industry %
Broadcom, Inc. DECS,ACES,PRIDES Semiconductors 2.5%
Ford Motor Company Convertible Bonds Automobile Manufacturers 2.2%
ON Semiconductor Corp. Convertible Bonds Semiconductors 2.2%
Royal Caribbean Cruises, Ltd. Convertible Bonds Hotels, Resorts & Cruise Lines 2.0%
Danaher Corp. DECS,ACES,PRIDES Life Sciences Tools & Services 1.8%
DexCom, Inc. Convertible Bonds Health Care Equipment 1.8%
Shift4 Payments, Inc. Convertible Bonds Data Processing & Outsourced Services 1.7%
Booking Holdings, Inc. Convertible Bonds Hotels, Resorts & Cruise Lines 1.7%
Palo Alto Networks, Inc. Convertible Bonds Systems Software 1.7%
Uber Technologies, Inc. Convertible Bonds Trucking 1.6%
Total 19.2%

Fund Facts

As of 3/31/22
Name Fund ICE BofA All US Convertibles Index
Number of Holdings 106 530
Debt/Capital 53.9% 62.6%
Duration 1.7 years N/A
Conversion Premium 22.5% 34.9%
Investment Premium 27.0% 16.1%
Portfolio Turnover (12 months) 33.0% N/A
ROIC 15.9% 13.2%
Net Assets $1.3 B N/A

Credit Quality of Bonds

As of 3/31/22
Class %
AAA 0.0%
AA 0.0%
A 1.8%
BBB 7.5%
BB 3.6%
B 1.1%
CCC and below 0.0%
Unrated Securities 86.0%

Maturity Schedule

As of 3/31/22
Range %
< 1 Year 5.0%
1 to 5 Years 69.6%
5 to 10 Years 11.7%
10 to 20 Years 0.0%
20 to 30 Years 0.0%
> 30 Years 0.0%
Equities and Other 13.7%

Top Currency Exposures

As of 3/31/22
Currency %
United States Dollar (USD) 100.0%

Distributions

Total Capital Gains

Schedule: ANNUAL
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
2019 0.0000
2020 1.5354
2021 3.1893

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

2021 Capital Gains
Capital gains for Calamos Mutual Funds were declared on December 20, 2021. To view the report, click here.

Distributions

Schedule: QUARTERLY
Most Recent Distributions
Frequency Income Reinvest
Q1 2022 $0.0000 20.51000
Q4 2021 $0.0000 22.77000
Q3 2021 $0.0000 26.85000
Q2 2021 $0.0000 25.50000
Q1 2021 $0.0000 25.50000
Q4 2020 $0.0556 0.00000
Q3 2020 $0.0098 22.88000
Q2 2020 $0.0034 20.72000
Q1 2020 $0.0624 14.79000
Q4 2019 $0.0556 18.10000
Q3 2019 $0.0618 17.47000
Q2 2019 $0.0181 17.06000
Q1 2019 $0.0478 16.83000
Q4 2018 $0.2263 15.35000
Q3 2018 $0.0726 19.15000
Q2 2018 $0.0614 19.04000
Q1 2018 $0.0620 18.58000
Q4 2017 $0.0444 17.58000
Q3 2017 $0.0127 17.73000
Q2 2017 $0.0596 17.37000
Q1 2017 $0.0850 16.75000
Q4 2016 $0.1568 16.11000
Q3 2016 $0.1635 16.03000
Q2 2016 $0.0988 15.63000
Q1 2016 $0.0375 15.10000
Q4 2015 $0.2579 15.74000
Q3 2015 $0.1923 16.95000
Q2 2015 $0.1551 17.91000
Q1 2015 $0.1235 17.89000
Q4 2014 $0.1087 17.46000
Q3 2014 $0.1185 18.63000
Q2 2014 $0.0424 18.60000
Q1 2014 $0.1086 18.38000
Q4 2013 $0.4903 17.56000
Q3 2013 $0.0000 0.00000
Q1 2013 $0.0000 0.00000
Q4 2012 $0.0233 16.50000
Q3 2012 $0.0000 0.00000
Q2 2012 $0.0300 16.90000
Q1 2012 $0.0449 18.18000
Q4 2011 $0.0682 17.11000
Q3 2011 $0.0000 0.00000
Q2 2011 $0.1363 19.44000
Q1 2011 $0.0265 19.80000
Q4 2010 $0.0839 19.44000
Q3 2010 $0.1104 18.93000
Q2 2010 $0.2405 18.58000
Q1 2010 $0.1443 19.18000
Q4 2009 $0.1978 18.54000
Q3 2009 $0.1392 18.39000
Q2 2009 $0.1368 16.28000
Q1 2009 $0.1127 14.61000
Q4 2008 $0.1081 14.24000
Q3 2008 $0.0000 0.00000
Q2 2008 $0.0000 0.00000
Q1 2008 $0.0000 0.00000

Fees & Expenses

Annual Expenses

Name A Shares C Shares I Shares
Gross Expense Ratio 1.08% 1.83% 0.83%

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

Literature

Latest Related Blog Posts

Videos

About the Fund

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Calamos Convertible Fund Quarterly Commentary

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

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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.

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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.

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Maximizing the Opportunity in Convertible Securities

This guide provides a brief overview of Calamos’ history in the asset class, how convertibles can be used in strategic asset allocation, and the attractive conditions we see in the market today. Included is an overview of the Calamos funds that use convertible securities in varied ways to achieve compelling short and long-term performance.

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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.

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CICVX—Managing Risk Over Market Cycles

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.

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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.

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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.

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Calamos Strategies for Different Market Periods

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

Prospectus and Reports

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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.

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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.

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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.

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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.

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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.