Fund Stats

  • NAV

    $20.53

    $0.15 (0.73%)

    As of 1/24/22

  • Daily YTD Return

    2.66%

    As of 1/24/22

  • Total Net Assets

    $505.5 Million

    As of 12/31/21

  • MorningStar Rating

    5 stars

    Overall rating as of 12/31/21

  • Inception Date

    8/15/08

Now available: Calamos 2021 Capital Gains (View)

Overview

The fund offers an active, risk-managed strategy to access growth opportunities in emerging markets. The fund invests in emerging market-domiciled and developed market-domiciled companies with significant revenue exposures attributable to emerging markets.

Key Features

  • Focuses on higher-quality companies with compelling growth attributes.
  • Conducts research across the capital structure and utilizes Calamos' experience in convertible securities to dynamically manage the risk profile.
  • Emphasizes countries enacting structural reforms and improving economic freedoms, which we believe enhances growth prospects and mitigates risk.
  • Identifies durable secular themes that provide a tailwind for sustainable growth and a franchise premium.
  • Takes environmental, social and governance (ESG) factors into account, evaluating effects on a company's risk profile, cash flow and long-term returns.

Portfolio Fit

Because of its focus on risk management, the fund can serve as a long-term emerging market allocation.

Morningstar Sustainability Rating

four stars

Morningstar Sustainability RatingTM Out of 1771 Global Emerging Markets Equity funds as of 11/30/2021. Based on 87.64% of AUM. Data is based on long positions only.

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Performance

Calendar Year Total Returns

As of 12/31/21
Date Calamos Evolving World Growth Fund (NAV) MSCI Emerging Markets Index
2021 -6.75 -2.22
2020 54.24 18.69
2019 20.76 18.9
2018 -17.74 -14.25
2017 36.97 37.75
2016 -4.5 11.6
2015 -8.41 -14.6
2014 -5.5 -1.82
2013 8.21 -2.27
2012 8.87 18.63

Growth of 10K

As of 12/31/21
Date Calamos Evolving World Growth Fund MSCI Emerging Markets Index
8/15/2008 12:00:00 AM 10000 10000
8/31/2008 12:00:00 AM 9960 10000
9/30/2008 12:00:00 AM 8730 8251
10/31/2008 12:00:00 AM 7330 5994.1
11/30/2008 12:00:00 AM 6850 5543.29
12/31/2008 12:00:00 AM 7167.76 5977.16
1/31/2009 12:00:00 AM 6743.75 5593.61
2/28/2009 12:00:00 AM 6491.37 5278.97
3/31/2009 12:00:00 AM 7147.57 6038.35
4/30/2009 12:00:00 AM 7945.11 7044.09
5/31/2009 12:00:00 AM 9005.13 8251.8
6/30/2009 12:00:00 AM 8863.8 8142.3
7/31/2009 12:00:00 AM 9701.72 9063.68
8/31/2009 12:00:00 AM 9752.2 9033.68
9/30/2009 12:00:00 AM 10529.54 9855.11
10/31/2009 12:00:00 AM 10418.49 9868.22
11/30/2009 12:00:00 AM 10993.93 10292.65
12/31/2009 12:00:00 AM 11191.7 10700.45
1/31/2010 12:00:00 AM 10550.72 10105.4
2/28/2010 12:00:00 AM 10916.99 10143.09
3/31/2010 12:00:00 AM 11425.71 10962.75
4/30/2010 12:00:00 AM 11547.8 11098.03
5/31/2010 12:00:00 AM 10978.04 10126.62
6/30/2010 12:00:00 AM 10957.69 10054.01
7/31/2010 12:00:00 AM 11507.1 10898.35
8/31/2010 12:00:00 AM 11344.31 10690.41
9/30/2010 12:00:00 AM 12382.09 11879.93
10/31/2010 12:00:00 AM 12677.14 12225.88
11/30/2010 12:00:00 AM 12707.66 11903.6
12/31/2010 12:00:00 AM 13484.64 12754.47
1/31/2011 12:00:00 AM 13433.57 12410.87
2/28/2011 12:00:00 AM 13729.82 12296.93
3/31/2011 12:00:00 AM 14087.37 13021.84
4/30/2011 12:00:00 AM 14904.62 13428.64
5/31/2011 12:00:00 AM 14465.35 13081.78
6/30/2011 12:00:00 AM 14118.01 12886.08
7/31/2011 12:00:00 AM 14026.07 12837.62
8/31/2011 12:00:00 AM 13351.84 11695.08
9/30/2011 12:00:00 AM 11717.34 9991.92
10/31/2011 12:00:00 AM 12810.41 11316.45
11/30/2011 12:00:00 AM 12738.9 10562.89
12/31/2011 12:00:00 AM 12349.6 10436.56
1/31/2012 12:00:00 AM 13065.22 11622.36
2/29/2012 12:00:00 AM 13607.05 12320.74
3/31/2012 12:00:00 AM 13576.38 11912.13
4/30/2012 12:00:00 AM 13382.14 11773.08
5/31/2012 12:00:00 AM 12359.82 10458.9
6/30/2012 12:00:00 AM 12646.07 10867.47
7/31/2012 12:00:00 AM 12666.52 11087.29
8/31/2012 12:00:00 AM 12922.1 11055.25
9/30/2012 12:00:00 AM 13371.92 11724.52
10/31/2012 12:00:00 AM 13208.35 11654.61
11/30/2012 12:00:00 AM 13392.37 11803.44
12/31/2012 12:00:00 AM 13444.64 12381.99
1/31/2013 12:00:00 AM 13670.08 12554.64
2/28/2013 12:00:00 AM 13618.85 12398.71
3/31/2013 12:00:00 AM 13608.6 12187.84
4/30/2013 12:00:00 AM 13680.33 12284.48
5/31/2013 12:00:00 AM 13577.86 11975.09
6/30/2013 12:00:00 AM 12952.76 11218.44
7/31/2013 12:00:00 AM 13454.89 11341.72
8/31/2013 12:00:00 AM 13260.19 11151.18
9/30/2013 12:00:00 AM 13987.76 11879.9
10/31/2013 12:00:00 AM 14418.15 12458.81
11/30/2013 12:00:00 AM 14387.41 12277.66
12/31/2013 12:00:00 AM 14548.75 12101.11
1/31/2014 12:00:00 AM 13854.48 11318.05
2/28/2014 12:00:00 AM 14704.19 11695.39
3/31/2014 12:00:00 AM 14569.48 12057.01
4/30/2014 12:00:00 AM 14600.57 12101.86
5/31/2014 12:00:00 AM 14932.16 12527
6/30/2014 12:00:00 AM 15315.57 12865.48
7/31/2014 12:00:00 AM 15035.78 13124.85
8/31/2014 12:00:00 AM 15180.86 13425.8
9/30/2014 12:00:00 AM 14248.25 12433.5
10/31/2014 12:00:00 AM 14331.14 12581.58
11/30/2014 12:00:00 AM 14320.78 12449.23
12/31/2014 12:00:00 AM 13748.06 11881.42
1/31/2015 12:00:00 AM 13865.29 11953.66
2/28/2015 12:00:00 AM 14174.36 12325.17
3/31/2015 12:00:00 AM 14174.36 12152.38
4/30/2015 12:00:00 AM 14867.09 13090.17
5/31/2015 12:00:00 AM 14579.34 12568.53
6/30/2015 12:00:00 AM 14270.27 12251.68
7/31/2015 12:00:00 AM 13566.88 11409.99
8/31/2015 12:00:00 AM 12533.11 10381.95
9/30/2015 12:00:00 AM 12245.36 10073.29
10/31/2015 12:00:00 AM 12991.38 10792.53
11/30/2015 12:00:00 AM 12916.78 10372.27
12/31/2015 12:00:00 AM 12591.53 10146.98
1/31/2016 12:00:00 AM 11831.98 9489.25
2/29/2016 12:00:00 AM 11575.23 9474.73
3/31/2016 12:00:00 AM 12505.95 10730.89
4/30/2016 12:00:00 AM 12570.14 10791.31
5/31/2016 12:00:00 AM 12505.95 10390.95
6/30/2016 12:00:00 AM 12666.42 10816.46
7/31/2016 12:00:00 AM 13083.64 11367.02
8/31/2016 12:00:00 AM 13169.23 11653.24
9/30/2016 12:00:00 AM 13340.39 11806.6
10/31/2016 12:00:00 AM 13040.85 11835.76
11/30/2016 12:00:00 AM 12174.31 11291.67
12/31/2016 12:00:00 AM 12024.54 11324.42
1/31/2017 12:00:00 AM 12709.21 11944.65
2/28/2017 12:00:00 AM 12923.17 12311.23
3/31/2017 12:00:00 AM 13351.09 12625.05
4/30/2017 12:00:00 AM 13714.82 12904.06
5/31/2017 12:00:00 AM 13992.97 13288.22
6/30/2017 12:00:00 AM 14164.14 13431.06
7/31/2017 12:00:00 AM 15105.56 14242.43
8/31/2017 12:00:00 AM 15597.67 14565.45
9/30/2017 12:00:00 AM 15619.07 14510.83
10/31/2017 12:00:00 AM 16004.19 15020.45
11/30/2017 12:00:00 AM 16121.87 15051.39
12/31/2017 12:00:00 AM 16470.32 15599.57
1/31/2018 12:00:00 AM 17684.38 16900.88
2/28/2018 12:00:00 AM 16986.03 16123.78
3/31/2018 12:00:00 AM 16953.8 15828.07
4/30/2018 12:00:00 AM 16459.58 15760.96
5/31/2018 12:00:00 AM 15986.85 15206.33
6/30/2018 12:00:00 AM 15385.19 14584.7
7/31/2018 12:00:00 AM 15417.42 14917.96
8/31/2018 12:00:00 AM 14976.93 14518.9
9/30/2018 12:00:00 AM 14890.98 14446.6
10/31/2018 12:00:00 AM 13569.48 13189.74
11/30/2018 12:00:00 AM 13967.01 13734.22
12/31/2018 12:00:00 AM 13547.99 13377.13
1/31/2019 12:00:00 AM 14579.4 14549.36
2/28/2019 12:00:00 AM 14719.07 14583.41
3/31/2019 12:00:00 AM 15009.16 14708.68
4/30/2019 12:00:00 AM 15277.75 15021.09
5/31/2019 12:00:00 AM 14504.2 13935.82
6/30/2019 12:00:00 AM 15449.66 14816.84
7/31/2019 12:00:00 AM 15277.75 14647.93
8/31/2019 12:00:00 AM 14891.22 13937.94
9/30/2019 12:00:00 AM 14804.85 14208.62
10/31/2019 12:00:00 AM 15320.06 14809.22
11/30/2019 12:00:00 AM 15416.58 14789.82
12/31/2019 12:00:00 AM 16358.53 15902.9
1/31/2020 12:00:00 AM 16000.28 15162.14
2/29/2020 12:00:00 AM 15653.07 14363.4
3/31/2020 12:00:00 AM 13666.7 12154.74
4/30/2020 12:00:00 AM 15273.9 13270.18
5/31/2020 12:00:00 AM 16153.68 13374.88
6/30/2020 12:00:00 AM 17857.89 14365.02
7/31/2020 12:00:00 AM 20115.13 15661.61
8/31/2020 12:00:00 AM 21112.84 16011.65
9/30/2020 12:00:00 AM 20853.15 15758.51
10/31/2020 12:00:00 AM 21472.49 16085.65
11/30/2020 12:00:00 AM 23155.93 17574.38
12/31/2020 12:00:00 AM 25235.33 18874.71
1/31/2021 12:00:00 AM 26277.55 19458.31
2/28/2021 12:00:00 AM 26466.75 19608.14
3/31/2021 12:00:00 AM 25180.47 19316.76
4/30/2021 12:00:00 AM 25689.12 19800.26
5/31/2021 12:00:00 AM 26043.63 20263.99
6/30/2021 12:00:00 AM 26231.14 20305.73
7/31/2021 12:00:00 AM 24701.86 18951.13
8/31/2021 12:00:00 AM 25677.58 19453.15
9/30/2021 12:00:00 AM 24601.69 18686.89
10/31/2021 12:00:00 AM 24946.11 18873.95
11/30/2021 12:00:00 AM 23584.05 18106.34
12/31/2021 12:00:00 AM 23532.17 18454.89

Annualized Total Returns

As of 12/31/21 As of 12/31/21
TimeFrame Calamos Evolving World Growth Fund (NAV) MSCI Emerging Markets Index
1 Year -6.75 -2.22
3 Year 20.21 11.33
5 Year 14.37 10.26
10 Year 6.66 5.87
Since Inception 6.6 4.03
TimeFrame Calamos Evolving World Growth Fund (NAV) MSCI Emerging Markets Index
1 Year -6.75 -2.22
3 Year 20.21 11.33
5 Year 14.37 10.26
10 Year 6.66 5.87
Since Inception 6.6 4.03

Important Fund Information

10k Performance results are before taxes on fund distributions and assume reinvestment of dividends and capital gains. Index data shown is from 8/31/08, since comparative index data is available only for full monthly periods. Source: Calamos Investments

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 MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The index is calculated on a total return basis, which includes reinvestment of gross dividends before deduction of withholding taxes.

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' gross expense ratios as of the prospectus dated 3/1/2021 are as follows: A Shares 1.64%, C Shares 2.39% and I Shares 1.39%.

Portfolio

Sector Weightings

As of 12/31/21
Sector % of Assets MSCI Emerging Markets Index
Information Technology 23.0% 22.6%
Financials 20.3% 19.4%
Consumer Discretionary 14.6% 13.5%
Communication Services 12.7% 10.7%
Industrials 6.9% 5.0%
Consumer Staples 5.5% 5.9%
Materials 5.4% 8.5%
Energy 5.0% 5.6%
Real Estate 4.8% 2.0%
Health Care 0.8% 4.2%
Utilities 0.0% 2.4%
Other 1.2% 0.1%

Asset Allocation

As of 12/31/21
Asset Allocation %
Common Stock 86.5517
Convertibles 11.5248
Options 2.0496
Cash and Receivables/Payables -0.1261

Top 10 Holdings

As of 12/31/21
Company Security Type Industry %
Taiwan Semiconductor Mfg Stocks Semiconductors 8.4%
Tencent Holdings, Ltd. Stocks Interactive Media & Services 4.3%
HDFC Bank, Ltd. Stocks Diversified Banks 3.2%
Sea, Ltd. Convertible Bonds Interactive Home Entertainment 2.9%
MediaTek, Inc. Stocks Semiconductors 2.4%
Wal-Mart De Mexico, Sab De Cv Stocks Hypermarkets & Super Centers 2.1%
ICICI Bank, Ltd. Stocks Diversified Banks 2.1%
JPMorgan Chase Bank NA Convertible Bonds Interactive Media & Services 2.1%
Meituan Convertible Bonds Internet & Direct Marketing Retail 2.0%
Li Ning Company, Ltd. Stocks Apparel, Accessories & Luxury Goods 1.9%
Total 31.4%

Fund Facts

As of 12/31/21
Name Fund MSCI Emerging Markets Index
Number of Holdings 84 1,412
Debt/Capital 26.2% 24.4%
Duration 2.3 years N/A
Conversion Premium 34.4% N/A
Investment Premium 8.0% N/A
PEG Ratio 1.5x 1.3x
Portfolio Turnover (12 months) 131.8% N/A
Price/Book 3.0x 1.7x
Price/Earnings 20.9x 14.6x
Price/Sales 1.8x 0.8x
ROIC 21.3% 19.2%
Net Assets $505.5 M N/A

Market Capitalization

As of 12/31/21
Market CAP Range % of Assets
<=$0.10bil 0.0%
>$0.10bil<=$5bil 6.0%
>$5bil<=$30bil 31.6%
>$30bil<=$200bil 33.7%
>$200bil 28.6%

Credit Quality of Bonds

As of 12/31/21
Class %
AAA 0.0%
AA 17.8%
A 0.0%
BBB 17.7%
BB 0.0%
B 0.0%
CCC and below 0.0%
Unrated Securities 64.5%

Maturity Schedule

As of 12/31/21
Range %
< 1 Year 1.9%
1 to 5 Years 8.8%
5 to 10 Years 0.7%
10 to 20 Years 0.0%
20 to 30 Years 0.0%
> 30 Years 0.0%
Equities and Other 88.6%

Top Currency Exposures

As of 12/31/21
Currency %
United States Dollar (USD) 24.1%
Taiwan Dollar (TWD) 16.0%
Hong Kong Dollar (HKD) 16.0%
Indian Rupee (INR) 15.3%
China Renminbi (Yuan) (CNY) 5.5%
Mexican Peso (MXN) 3.9%
South Korean WON (KRW) 3.8%
Indonesian Rupiah (IDR) 3.1%
Philippines Peso (PHP) 2.9%
South African Rand (ZAR) 1.9%

Bond Duration

As of 12/31/21
Name Duration
Weighted Avg. Duration 2.3 years
Weighted Avg. Maturity 3.2 years

Distributions

Total Capital Gains

Schedule: ANNUAL
Year Capital Gains
2008 0.0000
2009 0.0000
2010 0.0000
2011 0.0000
2012 0.0000
2013 0.1145
2014 0.2975
2015 0.0000
2016 0.0000
2017 0.0000
2018 0.0000
2019 0.0000
2020 0.4504
2021 0.0000

Schedule

Name Frequency
Distributions ANNUAL
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: ANNUAL
Most Recent Distributions
Frequency Income Reinvest
Q4 2021 $0.1381 20.38000
Q4 2020 $0.0070 0.00000
Q4 2019 $0.1567 14.99000
Q3 2019 $0.0000 0.00000
Q2 2019 $0.0000 0.00000
Q4 2018 $0.0000 12.49000
Q4 2017 $0.0636 14.84000
Q4 2016 $0.0000 11.28000
Q4 2015 $0.0450 11.81000
Q4 2014 $0.0679 12.83000
Q1 2014 $0.0000 0.00000
Q4 2013 $0.0398 13.76000
Q3 2013 $0.0000 0.00000
Q2 2013 $0.0000 0.00000
Q1 2013 $0.0000 0.00000
Q4 2012 $0.0310 13.08000
Q3 2012 $0.0000 0.00000
Q2 2012 $0.0000 0.00000
Q1 2012 $0.0000 0.00000
Q4 2011 $0.0000 0.00000
Q3 2011 $0.0000 0.00000
Q2 2011 $0.0000 0.00000
Q1 2011 $0.0000 0.00000
Q4 2010 $0.0000 0.00000
Q3 2010 $0.0000 0.00000
Q2 2010 $0.0000 0.00000
Q1 2010 $0.0000 0.00000
Q4 2009 $0.0842 10.78000
Q3 2009 $0.0000 0.00000
Q2 2009 $0.0000 0.00000
Q1 2009 $0.0000 0.00000
Q4 2008 $0.0670 7.02000
Q3 2008 $0.0000 0.00000

Fees & Expenses

Annual Expenses

Name A Shares C Shares I Shares
Gross Expense Ratio 1.64% 2.39% 1.39%
Net Expense Ratio 1.30% 2.05% 1.05%

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 8/15/08 8/15/08 8/15/08
Ticker Symbol CNWGX CNWDX CNWIX
CUSIP number 128119161 128119146 128119138

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 1952 1954 1955
Dividends ANNUAL ANNUAL ANNUAL
Capital Gains ANNUAL ANNUAL ANNUAL

The Fund's investment advisor has contractually agreed to reimburse Fund expenses through March 1, 2023 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 Class A, Class C, and Class I are limited to 1.30%, 2.05%, and 1.05% 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.

Literature

Latest Related Blog Posts

About the Fund

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Calamos Evolving World Growth Fund Quarterly Commentary

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Calamos Evolving World Growth Fund Fact Sheet

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Navigating Shifting Crosscurrents

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Maximizing the Opportunity in Convertible Securities

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A Dynamic Approach to Investing in EM Growth Opportunities

Calamos Evolving World Growth Fund offers an active, risk-managed strategy for accessing growth in emerging markets. Historically, the fund has delivered strong results versus peers and a compelling risk/reward profile, including during drawdowns.

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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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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 Evolving World Growth Fund Prospectus

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