Fund Stats
-
NAV
$16.22
$0.04 (0.25%)
-
Daily YTD Return
19.26%
-
Total Net Assets
$1.3 Billion
-
Inception Date
6/25/97
Overview
The fund invests primarily in convertible securities of US 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.
Compare Fund
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ComparePerformance
Calendar Year Total Returns
| Date | Calamos Convertible Fund (NAV) | ICE BofA All US Convertibles Index | S&P 500 Index |
|---|---|---|---|
| YTD 2022 | -7.17 | -5.41 | -4.6 |
| 2021 | 5.46 | 6.34 | 28.71 |
| 2020 | 48.77 | 46.22 | 18.4 |
| 2019 | 19.5 | 23.15 | 31.49 |
| 2018 | 0.72 | 0.15 | -4.38 |
| 2017 | 14.62 | 13.7 | 21.83 |
| 2016 | 4.75 | 10.43 | 11.96 |
| 2015 | -3.62 | -2.99 | 1.38 |
| 2014 | 5.19 | 9.44 | 13.69 |
| 2013 | 20.71 | 24.92 | 32.39 |
Annualized Total Returns
| TimeFrame | Calamos Convertible Fund (NAV) | ICE BofA All US Convertibles Index | S&P 500 Index |
|---|---|---|---|
| 1 Year | -3.58 | -2.21 | 15.65 |
| 3 Year | 17 | 18 | 18.92 |
| 5 Year | 13.77 | 14.39 | 15.99 |
| 10 Year | 9.81 | 12.16 | 14.64 |
| Since Inception | 8.68 | 8.75 | 8.83 |
| TimeFrame | Calamos Convertible Fund (NAV) | ICE BofA All US Convertibles Index | S&P 500 Index |
|---|---|---|---|
| 1 Year | -12.79 | -11.44 | 0.21 |
| 3 Year | 13.12 | 14.12 | 13.85 |
| 5 Year | 11.81 | 12.47 | 13.66 |
| 10 Year | 9.29 | 11.47 | 13.67 |
| Since Inception | 8.32 | 8.7 | 11.17 |
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
| 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
| Asset Allocation | % |
|---|---|
| Convertibles | 96.9802 |
| Cash and Receivables/Payables | 3.0198 |
| Common Stock | 0 |
Month-End Yield
| Name | % |
|---|---|
| 30-day SEC yield | 0.78% |
| Unsubsidized 30-day SEC yield | 0.78% |
| Distribution Yield | 18.46% |
Top 10 Holdings
| 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
| 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
| 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
| 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
| Currency | % |
|---|---|
| United States Dollar (USD) | 100.0% |
Distributions
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 |
| 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
| Frequency | Income | Reinvest |
|---|---|---|
| Q1 2022 | $0.0000 | 17.58000 |
| Q4 2021 | $0.0023 | 19.51000 |
| Q3 2021 | $0.0032 | 23.46000 |
| Q2 2021 | $0.0000 | 22.24000 |
| Q1 2021 | $0.0000 | 22.24000 |
| Q4 2020 | $0.0703 | 0.00000 |
| Q3 2020 | $0.0230 | 20.13000 |
| Q2 2020 | $0.0141 | 18.23000 |
| Q1 2020 | $0.0742 | 13.01000 |
| Q4 2019 | $0.0671 | 15.93000 |
| Q3 2019 | $0.0725 | 15.39000 |
| Q2 2019 | $0.0289 | 15.04000 |
| Q1 2019 | $0.0556 | 14.84000 |
| Q4 2018 | $0.2390 | 13.54000 |
| Q3 2018 | $0.0845 | 17.16000 |
| Q2 2018 | $0.0729 | 17.06000 |
| Q1 2018 | $0.0731 | 16.66000 |
| Q4 2017 | $0.0559 | 15.77000 |
| Q3 2017 | $0.0244 | 15.96000 |
| Q2 2017 | $0.0696 | 15.64000 |
| Q1 2017 | $0.0951 | 15.09000 |
| Q4 2016 | $0.1674 | 14.52000 |
| Q3 2016 | $0.1745 | 14.47000 |
| Q2 2016 | $0.1090 | 14.12000 |
| Q1 2016 | $0.0478 | 13.66000 |
| Q4 2015 | $0.2696 | 14.24000 |
| Q3 2015 | $0.2035 | 15.39000 |
| Q2 2015 | $0.1663 | 16.28000 |
| Q1 2015 | $0.1348 | 16.27000 |
| Q4 2014 | $0.1202 | 15.90000 |
| Q3 2014 | $0.1312 | 17.05000 |
| Q2 2014 | $0.0537 | 17.04000 |
| Q1 2014 | $0.1197 | 16.84000 |
| Q4 2013 | $0.5393 | 16.10000 |
| Q3 2013 | $0.0000 | 0.00000 |
| Q2 2013 | $0.0000 | 0.00000 |
| Q1 2013 | $0.0000 | 0.00000 |
| Q4 2012 | $0.0507 | 15.26000 |
| Q3 2012 | $0.0000 | 0.00000 |
| Q2 2012 | $0.0422 | 15.75000 |
| Q1 2012 | $0.0571 | 16.94000 |
| Q4 2011 | $0.0961 | 15.95000 |
| Q3 2011 | $0.0000 | 0.00000 |
| Q2 2011 | $0.1499 | 18.24000 |
| Q1 2011 | $0.0396 | 18.58000 |
| Q4 2010 | $0.0959 | 18.25000 |
| Q3 2010 | $0.1220 | 17.81000 |
| Q2 2010 | $0.2529 | 17.49000 |
| Q1 2010 | $0.1564 | 18.07000 |
| Q4 2009 | $0.2084 | 17.47000 |
| Q3 2009 | $0.1492 | 17.35000 |
| Q2 2009 | $0.1452 | 15.36000 |
| Q1 2009 | $0.1186 | 13.79000 |
| Q4 2008 | $0.1137 | 13.44000 |
| 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
Calamos Convertible Fund Quarterly Commentary
A quarterly update of the Calamos Convertible Fund’s performance, positioning, related market commentary and outlook.
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.
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.
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.
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.
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.
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.
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 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
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.
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.
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.
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.
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.