Fund Stats

  • NAV

    $13.18

    $0.20 (1.54%)

    As of 6/24/22

  • Daily YTD Return

    11.48%

    As of 6/24/22

  • Total Net Assets

    $661.4 Million

    As of 3/31/22

  • MorningStar Rating

    4 stars

    Overall rating as of 5/31/22

  • Inception Date

    12/31/14

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 expo-sure, thereby improving the quality of the ride.

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Performance

Calendar Year Total Returns

As of 3/31/22
Date Calamos Hedged Equity Fund (NAV) Calamos Hedged Equity Fund Load-Adjusted S&P 500 Index Bloomberg US Aggregate Bond Index
YTD 2022 -3.36 -7.93 -4.6 -5.93
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 3/31/22 As of 5/31/22
TimeFrame Calamos Hedged Equity Fund (NAV) Calamos Hedged Equity Fund Load-Adjusted S&P 500 Index Bloomberg US Aggregate Bond Index
1 Year 5.64 0.63 15.65 -4.15
3 Year 8.65 6.9 18.92 1.69
5 Year 7.52 6.49 15.99 2.14
Since Inception 6.38 5.67 13.65 2.03
TimeFrame Calamos Hedged Equity Fund (NAV) Calamos Hedged Equity Fund Load-Adjusted S&P 500 Index Bloomberg US Aggregate Bond Index
1 Year -2.86 -7.48 -0.3 -8.22
3 Year 6.94 5.23 16.44 0
5 Year 6.13 5.1 13.38 1.18
Since Inception 5.42 4.73 11.96 1.54

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.

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 3/1/2022 are as follows: A Shares 1.18%, C Shares 1.93% and I Shares 0.93%.

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 3/31/22
Sector % of Assets S&P 500 Index
Information Technology 27.6% 28.0%
Health Care 13.3% 13.6%
Consumer Discretionary 11.9% 12.0%
Financials 10.8% 11.1%
Communication Services 9.0% 9.4%
Industrials 7.8% 7.9%
Consumer Staples 6.0% 6.1%
Energy 3.8% 3.9%
Utilities 2.5% 2.7%
Materials 2.4% 2.6%
Real Estate 2.4% 2.7%
Other -0.7% 0.0%

Asset Allocation

As of 3/31/22
Asset Allocation %
Common Stock 95.9099
Cash and Receivables/Payables 3.2025
Other 1.9939
Convertibles 1.6172
Corporate Bonds 0
US Government Securities 0
Sovereign Bonds 0
Options -2.7235

Top 10 Holdings

As of 3/31/22
Company Security Type Industry %
Apple, Inc. Stocks Technology Hardware, Storage & Peripherals 6.8%
Microsoft Corp. Stocks Systems Software 6.3%
Amazon.com, Inc. Stocks Internet & Direct Marketing Retail 4.0%
Alphabet, Inc. - Class C Stocks Interactive Media & Services 2.1%
NVIDIA Corp. Stocks Semiconductors 2.0%
SPDR S&P 500 ETF Trust Mutual Funds Other 2.0%
Alphabet, Inc. - Class A Stocks Interactive Media & Services 1.9%
Meta Platforms, Inc. - Class A Stocks Interactive Media & Services 1.7%
Tesla, Inc. Convertible Bonds Automobile Manufacturers 1.6%
UnitedHealth Group, Inc. Stocks Managed Health Care 1.6%
Total 30.0%

Fund Facts

As of 3/31/22
Name Fund S&P 500 Index
Number of Holdings 279 505
Portfolio Turnover (12 months) 27.5% N/A
Net Assets $661.4 M 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

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

Schedule: QUARTERLY
Most Recent Distributions
Frequency Income Reinvest
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 1.18% 1.93% 0.93%

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

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Calamos Hedged Equity Fund Quarterly Commentary

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

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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.

Prospectus and Reports

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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.

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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.