Calamos Dividend Growth Fund (CADVX)

Overview

The fund invests in companies that we believe have an ability to increase dividends over time, either through increasing profits or more efficient use of capital.

Key Features

  • Employs bottom-up stock picking and a benchmark-agnostic approach.
  • Focuses on good businesses with solid cash flows and value prices

Portfolio Fit

The fund may be suitable for investors seeking a regular stream of income and dividend-paying equity investments that tend to be less volatile than non-dividend payers.

Return on Invested Capital

As of 6/30/19
Name Gain
Fund 21.0644
S&P 500 Index 20.553

Debt/Capital

As of 6/30/19
Name Gain
Fund 43.0289
S&P 500 Index 45.4105

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 Dividend Growth Fund include the risk of: declining equity values; losses from MLPs related to lack of portfolio diversification, changes in tax laws, lack of liquidity, declining equity values, and conflicts over control rights; incorrect selection or judgments on portfolio holdings by the investment advisor; increased transaction costs because of frequent turnover; losses from currency fluctuations; lack of liquidity or correlation to underlying securities in the options market; and potential illiquidity of securities purchased privately under Rule 144A. The options risk is 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. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured. More detailed information regarding these risks can be found in the Fund's prospectus. 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.

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

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 4.75%. 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 1.84%, C Shares 2.60% and I Shares 1.61%.

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 9/16/19
Inception Date: 8/05/13
Current NAV: $13.22
$ Change: $-0.05
% Change: -0.38%
Total Net Assets (As of 6/30/19): $17.1 M
Morningstar Category: Large Blend

Zephyr Analysis

Zephyr Analysis

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Resources

Calendar Year Total Returns

As of 6/30/19
Date Calamos Dividend Growth Fund (NAV) Calamos Dividend Growth Fund Load-Adjusted S&P 500 Index
YTD 2019 17.82 12.22 18.54
2018 -4.98 -9.52 -4.38
2017 20.93 15.24 21.83
2016 9.47 4.29 11.96
2015 -0.04 -4.82 1.38
2014 0.71 -4.04 13.69
2013* 7.73 2.6 0

*Reflects the fund's return from the inception date of 8/5/2013 through 12/31/2013.

Growth of 10K

As of 6/30/19
Date Calamos Dividend Growth Fund S&P 500 Index
8/5/2013 12:00:00 AM 10000 10000
8/31/2013 12:00:00 AM 9630 10000
9/30/2013 12:00:00 AM 10000 10313.6
10/31/2013 12:00:00 AM 10360 10787.72
11/30/2013 12:00:00 AM 10550 11116.42
12/31/2013 12:00:00 AM 10773.04 11397.89
1/31/2014 12:00:00 AM 10349.78 11003.86
2/28/2014 12:00:00 AM 10692.42 11507.18
3/31/2014 12:00:00 AM 10692.15 11603.95
4/30/2014 12:00:00 AM 10610.76 11689.71
5/31/2014 12:00:00 AM 10763.36 11964.06
6/30/2014 12:00:00 AM 11099.08 12211.24
7/31/2014 12:00:00 AM 10966.83 12042.85
8/31/2014 12:00:00 AM 11292.38 12524.68
9/30/2014 12:00:00 AM 10902.53 12349.09
10/31/2014 12:00:00 AM 10994.32 12650.65
11/30/2014 12:00:00 AM 11014.71 12990.83
12/31/2014 12:00:00 AM 10849.88 12958.09
1/31/2015 12:00:00 AM 10745.15 12569.09
2/28/2015 12:00:00 AM 11143.12 13291.43
3/31/2015 12:00:00 AM 10933.66 13081.3
4/30/2015 12:00:00 AM 11090.75 13206.75
5/31/2015 12:00:00 AM 11237.37 13376.58
6/30/2015 12:00:00 AM 10912.72 13117.61
7/31/2015 12:00:00 AM 11153.59 13392.43
8/31/2015 12:00:00 AM 10451.91 12584.46
9/30/2015 12:00:00 AM 10211.03 12273.12
10/31/2015 12:00:00 AM 11017.44 13308.36
11/30/2015 12:00:00 AM 11006.97 13347.89
12/31/2015 12:00:00 AM 10845.44 13137.39
1/31/2016 12:00:00 AM 10285.4 12485.51
2/29/2016 12:00:00 AM 10231.55 12468.66
3/31/2016 12:00:00 AM 10883.55 13314.53
4/30/2016 12:00:00 AM 10905 13366.19
5/31/2016 12:00:00 AM 11067.1 13606.25
6/30/2016 12:00:00 AM 11044.97 13641.49
7/31/2016 12:00:00 AM 11402.38 14144.45
8/31/2016 12:00:00 AM 11402.38 14164.25
9/30/2016 12:00:00 AM 11396.68 14166.94
10/31/2016 12:00:00 AM 11255.36 13908.54
11/30/2016 12:00:00 AM 11634.67 14423.57
12/31/2016 12:00:00 AM 11870.85 14708.73
1/31/2017 12:00:00 AM 12077.4 14987.75
2/28/2017 12:00:00 AM 12544.8 15582.91
3/31/2017 12:00:00 AM 12547.31 15601.15
4/30/2017 12:00:00 AM 12731.76 15761.37
5/31/2017 12:00:00 AM 12916.37 15983.13
6/30/2017 12:00:00 AM 12948.66 16082.87
7/31/2017 12:00:00 AM 13209.57 16413.53
8/31/2017 12:00:00 AM 13242.59 16463.76
9/30/2017 12:00:00 AM 13479.63 16803.4
10/31/2017 12:00:00 AM 13827.4 17195.6
11/30/2017 12:00:00 AM 14174.47 17722.98
12/31/2017 12:00:00 AM 13640.09 17920.06
1/31/2018 12:00:00 AM 14391.66 18945.99
2/28/2018 12:00:00 AM 13887.95 18247.64
3/31/2018 12:00:00 AM 13515.75 17783.97
4/30/2018 12:00:00 AM 13571.16 17852.26
5/31/2018 12:00:00 AM 13884.65 18282.14
6/30/2018 12:00:00 AM 13886.04 18394.57
7/31/2018 12:00:00 AM 14435.93 19079.04
8/31/2018 12:00:00 AM 14840.14 19700.82
9/30/2018 12:00:00 AM 14898.02 19812.92
10/31/2018 12:00:00 AM 13864.1 18458.71
11/30/2018 12:00:00 AM 14189.91 18834.89
12/31/2018 12:00:00 AM 12959.64 17134.29
1/31/2019 12:00:00 AM 13922.54 18507.43
2/28/2019 12:00:00 AM 14369.45 19101.71
3/31/2019 12:00:00 AM 14645.34 19472.85
4/30/2019 12:00:00 AM 15232.62 20261.31
5/31/2019 12:00:00 AM 14292.77 18973.7
6/30/2019 12:00:00 AM 15267.54 20310.97

Annualized Total Returns

As of 6/30/19
TimeFrame Calamos Dividend Growth Fund (NAV) Calamos Dividend Growth Fund Load-Adjusted S&P 500 Index
6 Month 17.82 12.22 18.54
1 Year 9.97 4.72 10.42
3 Year 13.32 11.49 14.19
5 Year 7.69 6.65 10.71
Since Inception 8.37 7.48 11.95

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 Dividend Growth Fund include the risk of: declining equity values; losses from MLPs related to lack of portfolio diversification, changes in tax laws, lack of liquidity, declining equity values, and conflicts over control rights; incorrect selection or judgments on portfolio holdings by the investment advisor; increased transaction costs because of frequent turnover; losses from currency fluctuations; lack of liquidity or correlation to underlying securities in the options market; and potential illiquidity of securities purchased privately under Rule 144A. The options risk is 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. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured. More detailed information regarding these risks can be found in the Fund's prospectus. 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.

10k Performance is for the Fund's Class A shares at net asset value and does not include the Fund's maximum front-end sales charge of 4.75%-had it been included, the Fund's return would have been lower. Index data shown is from 8/5/13, since comparative index data is available only for full monthly periods.

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 4.75%. Had it been included, the Fund's return would have been lower.

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 1.84%, C Shares 2.60% and I Shares 1.61%.

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 6/30/19
Sector % of Assets S&P 500 Index
Information Technology 22.5% 21.5%
Health Care 14.4% 14.2%
Financials 13.1% 13.1%
Communication Services 10.6% 10.2%
Consumer Discretionary 10.3% 10.2%
Industrials 9.2% 9.4%
Consumer Staples 7.5% 7.3%
Energy 5.3% 5.0%
Utilities 2.9% 3.3%
Real Estate 1.9% 3.1%
Materials 1.5% 2.8%

Asset Allocation

As of 6/30/19
Asset Allocation
Common Stock 99.2024
Cash and Receivables/Payables 0.5329
Other 0.2647

Month-End Yield

As of 8/31/19
Name %
30-day SEC yield 0.51%
Distribution Yield 4.04%

Top 10 Holdings

As of 6/30/19
Company Security Type Industry %
Microsoft Corp. Stocks Systems Software 4.9%
Amazon.com, Inc. Stocks Internet & Direct Marketing Retail 3.9%
Apple, Inc. Stocks Technology Hardware, Storage & Peripherals 3.6%
Alphabet, Inc. - Class C Stocks Interactive Media & Services 2.7%
Facebook, Inc. - Class A Stocks Interactive Media & Services 2.1%
Visa, Inc. - Class A Stocks Data Processing & Outsourced Services 2.0%
Pfizer, Inc. Stocks Pharmaceuticals 1.8%
Johnson & Johnson Stocks Pharmaceuticals 1.8%
JPMorgan Chase & Company Stocks Diversified Banks 1.7%
Procter & Gamble Company Stocks Household Products 1.6%
Total 26.1%

Fund Facts

As of 6/30/19
Name Fund S&P 500 Index
Number of Holdings 125 505
Debt/Capital 43.0% 45.4%
PEG Ratio 2.0x 2.0x
Portfolio Turnover (12 months) 7.2% N/A
Price/Book 3.5x 3.4x
Price/Earnings 18.7x 18.0x
Price/Sales 2.4x 2.2x
ROIC 21.1% 20.6%
Net Assets $17.1 M N/A

Market Capitalization

As of 6/30/19
Market CAP Range % of Assets
<=$0.10bil 0.0%
>$0.10bil<=$5bil 0.0%
>$5bil<=$30bil 7.5%
>$30bil<=$200bil 45.2%
>$200bil 47.3%

Regional Exposure

As of 6/30/19
Region % of Assets
North America 96.9%
Europe 2.4%
Caribbean 0.1%

Top Currency Exposures

As of 6/30/19
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 Dividend Growth Fund include the risk of: declining equity values; losses from MLPs related to lack of portfolio diversification, changes in tax laws, lack of liquidity, declining equity values, and conflicts over control rights; incorrect selection or judgments on portfolio holdings by the investment advisor; increased transaction costs because of frequent turnover; losses from currency fluctuations; lack of liquidity or correlation to underlying securities in the options market; and potential illiquidity of securities purchased privately under Rule 144A. The options risk is 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. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured. More detailed information regarding these risks can be found in the Fund's prospectus. 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

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.

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

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.

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

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
2013 0.0258
2014 0.1303
2015 0.2708
2016 0.0000
2017 0.9831
2018 0.4551

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

Distributions

Frequency Income Total Reinvest
Q2 2019 $0.0097 $0.0097 12.75000
Q1 2019 $0.0051 $0.0051 12.35000
Q4 2018 $0.0413 $0.0413 10.83000
Q3 2018 $0.0115 $0.0115 13.20000
Q2 2018 $0.0115 $0.0115 12.70000
Q1 2018 $0.0081 $0.0081 12.54000
Q4 2017 $0.0229 $0.0229 12.08000
Q3 2017 $0.0182 $0.0182 12.31000
Q2 2017 $0.0000 $0.0000 11.95000
Q1 2017 $0.0027 $0.0027 11.65000
Q4 2016 $0.0285 $0.0285 11.04000
Q3 2016 $0.0250 $0.0250 10.41000
Q2 2016 $0.0198 $0.0198 10.14000
Q1 2016 $0.0251 $0.0251 9.98000
Q4 2015 $0.0147 $0.0147 10.06000
Q4 2014 $0.1476 $0.1476 10.34000
Q3 2014 $0.0275 $0.0275 10.96000
Q1 2014 $0.0992 $0.0992 10.45000
Q4 2013 $0.0553 $0.0553 10.45000

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 Dividend Growth Fund include the risk of: declining equity values; losses from MLPs related to lack of portfolio diversification, changes in tax laws, lack of liquidity, declining equity values, and conflicts over control rights; incorrect selection or judgments on portfolio holdings by the investment advisor; increased transaction costs because of frequent turnover; losses from currency fluctuations; lack of liquidity or correlation to underlying securities in the options market; and potential illiquidity of securities purchased privately under Rule 144A. The options risk is 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. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured. More detailed information regarding these risks can be found in the Fund's prospectus. 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 4.75%. 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 1.84%, C Shares 2.60% and I Shares 1.61%.

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 1.84% 2.60% 1.61%
Net Expense Ratio 1.36% 2.11% 1.11%

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 8/05/13 8/05/13 8/05/13
Ticker Symbol CADVX CCDVX CIDVX
CUSIP number 128120839 128120821 128120813

Sales & Distribution

Name A Shares C Shares I Shares
Sales Load Front-End Level-Load N/A
Maximum Sales Charge 4.75 1.00 N/A
US Bank Fund Number 1982 1983 2023
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 Dividend Growth Fund include the risk of: declining equity values; losses from MLPs related to lack of portfolio diversification, changes in tax laws, lack of liquidity, declining equity values, and conflicts over control rights; incorrect selection or judgments on portfolio holdings by the investment advisor; increased transaction costs because of frequent turnover; losses from currency fluctuations; lack of liquidity or correlation to underlying securities in the options market; and potential illiquidity of securities purchased privately under Rule 144A. The options risk is 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. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured. More detailed information regarding these risks can be found in the Fund's prospectus. 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.

Calamos Advisors, the Fund's investment advisor, has contractually agreed to reimburse Fund expenses through 3/1/2019 to the extent necessary so that Total Annual Fund Operating Expenses (excluding taxes, interest, short interest, short dividend expenses, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) of ((classes)) are limited to ((expenses)) of average net assets, respectively. Calamos Advisors may recapture previously waived expense amounts within the same fiscal year for any day where the respective Fund's expense ratio falls below the contractual expense limit up to the expense limit for that day. This undertaking is binding on Calamos Advisors and any of its successors and assigns. This agreement is not terminable by either party.

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-dividend-growth-fund-mutual-fund-fact-sheet.pdf
Calamos Dividend Growth Fund Fact Sheet

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

calamos-dividend-growth-fund-mutual-fund-summary-prospectus.pdf
Calamos Dividend Growth Fund Prospectus

This summary contains important information about the Class A, C, and I Dividend Growth 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.