Calamos Growth Fund (CVGRX)

Overview

The fund invests in the equities of U.S. companies with a range of market capitalizations that we believe offer the best potential for growth.

Key Features

  • Utilize more than two decades of extensive research experience in growth investing
  • Active management focuses on top-down views and bottom-up fundamentals
  • Research-driven approach identifies opportunities by combining top-down analysis with a focus on key growth characteristics

Portfolio Fit

This actively-managed fund seeks to provide attractive returns through its emphasis on higher growth companies primarily in large and mid cap arenas.

Return on Invested Capital

As of 9/30/19
Name Gain
Fund 21.1533
S&P 1500 Growth 22.5698

Debt/Capital

As of 9/30/19
Name Gain
Fund 37.7039
S&P 1500 Growth 45.0266

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 Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection 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 S&P 1500 Growth Index consists of the growth segment of the securities found in the S&P 1500 Index. The S&P 1500 combines the S&P 500, S&P MidCap 400 and the S&P SmallCap 600.

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 1.29%, C Shares 2.04% and I Shares 1.04%.

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 12/6/19
Inception Date: 9/04/90
Current NAV: $33.59
$ Change: $0.28
% Change: 0.84%
Total Net Assets (As of 9/30/19): $1.4 B
Morningstar Category: Large Growth

Zephyr Analysis

Zephyr Analysis

key.jpg Create real time reports on performance, risk analysis, peer group analysis, style attribution and more on the Calamos Investment Professional site.

Resources

Calendar Year Total Returns

As of 9/30/19
Date Calamos Growth Fund (NAV) Calamos Growth Fund Load-Adjusted S&P 1500 Growth Index S&P 500 Index Russell Midcap Growth Index
YTD 2019 21.89 16.1 20.63 20.55 25.23
2018 -5.87 -10.34 -0.82 -4.38 -4.75
2017 26.59 20.56 26.49 21.83 25.27
2016 -2.13 -6.79 7.9 11.96 7.33
2015 3.02 -1.86 5.21 1.38 -0.2
2014 8.44 3.29 13.94 13.69 11.9
2013 33.14 26.81 33.1 32.39 35.74
2012 9.33 4.15 14.81 16 15.81
2011 -9.07 -13.38 4.17 2.11 -1.65
2010 20.06 14.35 16.72 15.06 26.38
2009 52.47 45.25 32.15 26.46 46.29
2008 -50.28 -52.64 -35.02 -37 -44.32
2007 23.26 17.4 9.36 5.49 11.43
2006 1.45 -3.38 10.62 15.79 10.66
2005 8.47 3.32 2.45 4.91 12.1
2004 18.65 13.02 8.28 10.88 15.48
2003 42.34 35.57 28.23 28.68 42.71
2002 -15.88 -19.89 -27.1 -22.1 -27.41
2001 -7.68 -12.06 -14.69 -11.89 -20.15
2000 26.59 20.58 -16.44 -9.1 -11.75
1999 77.7 69.28 36.72 21.04 51.29
1998 27.31 21.25 36.26 28.58 17.86
1997 24.22 18.34 33.51 33.36 22.54
1996 37.91 31.37 24.59 22.96 17.48
1995 27.5 21.43 0 37.58 33.98
1994 -5.7 -10.2 0 1.32 -2.16
1993 4.35 -0.63 0 10.08 11.19
1992 1.71 -3.12 0 7.62 8.71
1991 40.21 33.54 0 30.47 47.03
1990* 6.7 1.62 0 0 0

*Reflects the fund's return from the inception date of 9/4/1990 through 12/31/1990.

Annualized Total Returns

As of 9/30/19
TimeFrame Calamos Growth Fund (NAV) Calamos Growth Fund Load-Adjusted S&P 1500 Growth Index S&P 500 Index Russell Midcap Growth Index
6 Month 5.33 0.32 5.04 6.08 4.69
1 Year 2.77 -2.11 2.5 4.25 5.2
3 Year 12.83 11.01 15.22 13.39 14.5
5 Year 8.99 7.94 12.58 10.84 11.12
10 Year 10.53 9.99 14.61 13.24 14.08
15 Year 7.41 7.06 10.06 9.01 10.53
20 Year 9.71 9.45 6.39 6.33 7.97
Since Inception 12.64 12.46 0 10.22 11.04

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 Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection 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.

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 8/31/90, 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.

Russell Midcap® Growth Index-Measures the performance of those Russell Midcap companies whose average market capitalization is approximately $4.2 billion, with higher price-to-book ratios and higher growth values.

The S&P 1500 Growth Index consists of the growth segment of the securities found in the S&P 1500 Index. The S&P 1500 combines the S&P 500, S&P MidCap 400 and the S&P SmallCap 600.

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 1.29%, C Shares 2.04% and I Shares 1.04%.

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 S&P 1500 Growth
Information Technology 22.8% 26.0%
Communication Services 15.9% 13.1%
Health Care 15.0% 16.5%
Industrials 14.6% 9.2%
Consumer Discretionary 13.5% 12.5%
Financials 6.6% 5.9%
Consumer Staples 4.0% 5.5%
Materials 2.9% 2.4%
Energy 1.7% 2.7%
Utilities 0.0% 2.2%
Real Estate 0.0% 4.1%

Asset Allocation

As of 9/30/19
Asset Allocation
Common Stock 96.9989
Cash and Receivables/Payables 2.3242
Other 0.4757
Options 0.2012

Top 10 Holdings

As of 9/30/19
Company Security Type Industry %
Microsoft Corp. Stocks Systems Software 7.4%
Alphabet, Inc. - Class A Stocks Interactive Media & Services 6.1%
Amazon.com, Inc. Stocks Internet & Direct Marketing Retail 5.6%
Facebook, Inc. - Class A Stocks Interactive Media & Services 4.7%
Visa, Inc. - Class A Stocks Data Processing & Outsourced Services 3.4%
L3Harris Technologies, Inc. Stocks Aerospace & Defense 2.2%
Baxter International, Inc. Stocks Health Care Equipment 2.2%
Humana, Inc. Stocks Managed Health Care 2.2%
CBOE Global Markets, Inc. Stocks Financial Exchanges & Data 2.1%
Fidelity National Information Services, Inc. Stocks Data Processing & Outsourced Services 2.0%
Total 37.9%

Fund Facts

As of 9/30/19
Name Fund S&P 1500 Growth
Number of Holdings 152 878
Debt/Capital 37.7% 45.0%
PEG Ratio 2.0x 2.2x
Portfolio Turnover (12 months) 68.0% N/A
Price/Book 4.3x 5.3x
Price/Earnings 22.2x 22.5x
Price/Sales 2.7x 3.5x
ROIC 21.2% 22.6%
Net Assets $1.4 B N/A

Market Capitalization

As of 9/30/19
Market CAP Range % of Assets
<=$0.10bil 0.0%
>$0.10bil<=$5bil 1.7%
>$5bil<=$30bil 20.2%
>$30bil<=$200bil 35.4%
>$200bil 42.8%

Top Currency Exposures

As of 9/30/19
Currency %
United States Dollar (USD) 99.6%
Swiss Franc (CHF) 0.2%
Canadian Dollar (CAD) 0.2%

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 Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection 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

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.

The S&P 1500 Growth Index consists of the growth segment of the securities found in the S&P 1500 Index. The S&P 1500 combines the S&P 500, S&P MidCap 400 and the S&P SmallCap 600.

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 0.0000
2009 0.0000
2010 0.0000
2011 2.1501
2012 3.7276
2013 15.2925
2014 10.1314
2015 10.9405
2016 1.2028
2017 4.4658
2018 4.3981

Schedule

Name Frequency
Distributions ANNUAL
Capital Gains ANNUAL

Distributions

Frequency Income Total Reinvest
Q3 2019 $0.0000 $0.0000 0.00000
Q2 2019 $0.0000 $0.0000 0.00000
Q4 2018 $0.0000 $0.0000 25.59000
Q4 2017 $0.0000 $0.0000 32.34000
Q4 2016 $0.0000 $0.0000 29.58000
Q4 2015 $0.0000 $0.0000 30.96000
Q4 2014 $0.0000 $0.0000 40.74000
Q1 2014 $0.0000 $0.0000 0.00000
Q4 2013 $0.0000 $0.0000 45.87000
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 47.65000
Q3 2012 $0.0000 $0.0000 0.00000
Q2 2012 $0.0000 $0.0000 0.00000
Q1 2012 $0.0000 $0.0000 0.00000
Q4 2011 $0.0000 $0.0000 46.40000
Q3 2011 $0.0000 $0.0000 0.00000
Q2 2011 $0.0000 $0.0000 0.00000
Q1 2011 $0.0000 $0.0000 0.00000
Q4 2010 $0.0000 $0.0000 0.00000
Q3 2010 $0.0000 $0.0000 0.00000
Q2 2010 $0.0000 $0.0000 0.00000
Q1 2010 $0.0000 $0.0000 0.00000
Q4 2009 $0.0000 $0.0000 0.00000
Q3 2009 $0.0000 $0.0000 0.00000
Q2 2009 $0.0000 $0.0000 0.00000
Q1 2009 $0.0000 $0.0000 0.00000
Q4 2008 $0.0000 $0.0000 0.00000
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 Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection 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 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 1.29%, C Shares 2.04% and I Shares 1.04%.

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 1.29% 2.04% 1.04%
Net Expense Ratio 1.29% 2.04% 1.04%

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 9/04/90 9/03/96 9/18/97
Ticker Symbol CVGRX CVGCX CGRIX
CUSIP number 128119302 128119856 128119807

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 606 620 630
Dividends ANNUAL ANNUAL ANNUAL
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 Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection 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-growth-fund-mutual-fund-quarterly-commentary.pdf
Calamos Growth Fund Quarterly Commentary

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

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

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

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

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