Fund Stats

  • NAV

    $16.04

    $0.07 (0.43%)

    As of 5/23/24

  • Daily YTD Return

    6.23%

    As of 5/23/24

  • Total Net Assets

    $644.2 Million

    As of 3/31/24

  • Inception Date

    12/31/14

Calamos Hedged Equity Mutual Fund Overview

The fund blends a core long-equity portfolio with an actively managed option overlay. Tactical management creates opportunities to add alpha from option market dynamics and equity market volatility.

Key Features

  • Our investment approach is highly responsive to dynamic market conditions, unlike many less-active option-based strategies.
  • The investment team seeks to take advantage of market opportunities by being favorably positioned for as many outcomes as possible.

Portfolio Fit

The fund's option-based risk-management strategy can provide upside participation in equity markets while limiting downside exposure, thereby improving the quality of the ride.

Compare Fund

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

Compare

Performance

Calendar Year Total Returns

As of 3/31/24
Date Calamos Hedged Equity Fund (NAV) Calamos Hedged Equity Fund Load-Adjusted S&P 500 Index Bloomberg US Aggregate Bond Index
YTD 2024 5.83 0.82 10.56 -0.78
2023 15.56 10.11 26.29 5.53
2022 -11.3 -15.5 -18.11 -13.01
2021 13.03 7.66 28.71 -1.54
2020 9.29 4.08 18.4 7.51
2019 14.19 8.74 31.49 8.72
2018 0.59 -4.2 -4.38 0.01
2017 8.02 2.88 21.83 3.54
2016 5.22 0.21 11.96 2.65
2015 0.47 -4.31 1.38 0.55

Annualized Total Returns

As of 3/31/24 As of 4/30/24
TimeFrame Calamos Hedged Equity Fund (NAV) Calamos Hedged Equity Fund Load-Adjusted S&P 500 Index Bloomberg US Aggregate Bond Index
1 Year 17.13 11.59 29.88 1.7
3 Year 5.85 4.15 11.49 -2.46
5 Year 7.56 6.52 15.05 0.36
Since Inception (12/31/14) 6.29 5.73 12.73 1.24
TimeFrame Calamos Hedged Equity Fund (NAV) Calamos Hedged Equity Fund Load-Adjusted S&P 500 Index Bloomberg US Aggregate Bond Index
1 Year 13.54 8.15 22.66 -1.47
3 Year 4.4 2.71 8.06 -3.54
5 Year 6.75 5.72 13.19 -0.16
Since Inception (12/31/14) 6 5.45 12.11 0.95

Important Fund Information

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. Results are before taxes on fund distributions and assume reinvestment of dividends and capital gains. Index data shown is from 12/31/14, 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.

Index and Morningstar category data shown reflects full month periods only. If share class inception date is on or before the 15th of the month, the index or category calculation inception date begins on the first day of that month. If share class inception date is after the 15th of the month, the index or category calculation inception date begins on the first day of the following month.

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

Bloomberg US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and non-agency).

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 3/1/2024 are as follows: A Shares 1.17%, C Shares 1.92% and I Shares 0.92%.

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 3/31/24
Sector % of Assets S&P 500 Index
Information Technology 29.8% 29.6%
Financials 13.1% 13.2%
Health Care 12.8% 12.4%
Consumer Discretionary 10.5% 10.3%
Communication Services 9.3% 9.0%
Industrials 9.1% 8.8%
Consumer Staples 6.1% 6.0%
Energy 4.1% 3.9%
Materials 2.3% 2.4%
Real Estate 2.1% 2.3%
Utilities 2.0% 2.2%
Other -2.3% 0.0%

Asset Allocation

As of 3/31/24
Asset Allocation %
Common Stock 101.1914
Other 1.7832
Cash and Receivables/Payables 1.1249
Corporate Bonds 0
US Government Securities 0
Sovereign Bonds 0
Options -4.0996

Top 10 Holdings

As of 3/31/24
Company Security Type Industry %
Microsoft Corp. Stocks Systems Software 7.2%
Apple, Inc. Stocks Technology Hardware, Storage & Peripherals 5.9%
NVIDIA Corp. Stocks Semiconductors 5.2%
Amazon.com, Inc. Stocks Broadline Retail 3.8%
Meta Platforms, Inc. - Class A Stocks Interactive Media & Services 2.6%
Alphabet, Inc. - Class C Stocks Interactive Media & Services 2.1%
Alphabet, Inc. - Class A Stocks Interactive Media & Services 1.9%
SPDR S&P 500 ETF Trust Mutual Funds Other 1.8%
Eli Lilly & Company Stocks Pharmaceuticals 1.5%
Berkshire Hathaway, Inc. - Class B Stocks Multi-Sector Holdings 1.5%
Total 33.5%

Fund Facts

As of 3/31/24
Name Fund S&P 500 Index
Net Assets $644.2 M N/A
Number of Holdings 264 503
Portfolio Turnover (12 months) 22.4% N/A

Distributions

Total Capital Gains

Schedule: ANNUAL
Year Capital Gains
2015 0.0872
2016 0.0000
2017 0.0000
2018 0.2526
2019 0.0000
2020 0.0000
2021 0.0000
2022 0.0000
2023 0.0000

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

2023 Capital Gains
Capital gains for Calamos Mutual Funds were declared on December 21, 2023. To view the report, click here.

Distributions

Schedule: QUARTERLY
Most Recent Distributions
Frequency Income Reinvest
Q1 2024 $0.0000 15.73000
Q4 2023 $0.0508 15.05000
Q3 2023 $0.0168 14.42000
Q2 2023 $0.0047 14.34000
Q1 2023 $0.0000 13.30000
Q4 2022 $0.0637 13.20000
Q3 2022 $0.0142 13.14000
Q2 2022 $0.0000 12.99000
Q1 2022 $0.0000 13.98000
Q4 2021 $0.0283 14.57000
Q3 2021 $0.0110 14.43000
Q2 2021 $0.0015 13.09000
Q1 2021 $0.0000 13.09000
Q4 2020 $0.0537 0.00000
Q3 2020 $0.0241 12.53000
Q2 2020 $0.0183 12.15000
Q1 2020 $0.0101 10.58000
Q4 2019 $0.0484 12.10000
Q3 2019 $0.0301 11.80000
Q2 2019 $0.0075 11.55000
Q1 2019 $0.0088 11.38000
Q4 2018 $0.0017 10.67000
Q3 2018 $0.0142 11.76000
Q2 2018 $0.0133 11.59000
Q1 2018 $0.0135 11.52000
Q4 2017 $0.0188 10.96000
Q3 2017 $0.0124 10.73000
Q2 2017 $0.0002 10.62000
Q1 2017 $0.0064 10.53000
Q4 2016 $0.0377 10.26000
Q3 2016 $0.0215 10.03000
Q2 2016 $0.0192 9.79000
Q1 2016 $0.0302 9.72000
Q4 2015 $0.0838 9.81000
Q3 2015 $0.0330 9.78000
Q2 2015 $0.0332 10.16000

Fees & Expenses

Annual Expenses

Name A Shares C Shares I Shares
Gross Expense Ratio 1.17% 1.92% 0.92%

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 12/31/14 12/31/14 12/31/14
Ticker Symbol CAHEX CCHEX CIHEX
CUSIP number 128120698 128120680 128120672

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 2977 2978 2979
Dividends QUARTERLY QUARTERLY QUARTERLY
Capital Gains ANNUAL ANNUAL ANNUAL

Literature

Latest Related Blog Posts

Videos

About the Fund

Calamos Hedged Equity Fund Quarterly Commentary

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

Calamos Hedged Equity Fund Fact Sheet

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

Calamos Hedged Equity Fund Three Pillars Flyer

The Calamos Hedged Equity Fund is a core equity alternative that uses actively managed options-based hedging designed to dampen the impact of equity market drawdowns and still allow investors to participate in the potential upside of large-cap US stocks.

Prospectus and Reports

Calamos Hedged Equity Fund Prospectus

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

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

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 1-866-363-9219. Read it carefully before investing.

©2024 Calamos Investments LLC. All Rights Reserved. Calamos®, Calamos Investments® and Investment strategies for your serious money® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Financial Services LLC and Calamos Antetokounmpo Asset Management LLC.

The personal data collected by Calamos on this website, or by any other means, is collected and stored in accordance with the General Data Protection Regulation (EU) 2016/679 ("GDPR").

Important Legal Information | Privacy Policy | Business Continuity | Code of Business Conduct and Ethics | ERISA 408(b)(2)