Fund Stats

  • NAV

    $15.64

    $0.01 (0.06%)

    As of 5/17/24

  • Daily YTD Return

    6.39%

    As of 5/17/24

  • 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.

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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 5.58 4.58 10.56 -0.78
2023 14.69 13.69 26.29 5.53
2022 -11.97 -12.85 -18.11 -13.01
2021 12.28 11.28 28.71 -1.54
2020 8.59 7.59 18.4 7.51
2019 13.33 12.33 31.49 8.72
2018 -0.06 -1.04 -4.38 0.01
2017 7.25 6.25 21.83 3.54
2016 4.42 3.42 11.96 2.65
2015 -0.27 -1.25 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 16.29 15.29 29.88 1.7
3 Year 5.05 5.05 11.49 -2.46
5 Year 6.78 6.78 15.05 0.36
Since Inception (12/31/14) 5.52 5.52 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 12.7 11.7 22.66 -1.47
3 Year 3.66 3.66 8.06 -3.54
5 Year 5.99 5.99 13.19 -0.16
Since Inception (12/31/14) 5.24 5.24 12.11 0.95

Important Fund Information

10k Performance is for the Fund's Class C shares at net asset value and does not include the Fund's maximum level-load sales charge of 1.00%. 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 15.29000
Q4 2023 $0.0259 14.66000
Q3 2023 $0.0000 14.04000
Q2 2023 $0.0000 13.98000
Q1 2023 $0.0000 12.98000
Q4 2022 $0.0385 12.91000
Q3 2022 $0.0000 12.85000
Q2 2022 $0.0000 12.71000
Q1 2022 $0.0000 13.71000
Q4 2021 $0.0000 14.31000
Q3 2021 $0.0000 14.18000
Q2 2021 $0.0000 12.92000
Q1 2021 $0.0000 12.92000
Q4 2020 $0.0311 0.00000
Q3 2020 $0.0019 12.37000
Q2 2020 $0.0000 11.99000
Q1 2020 $0.0000 10.45000
Q4 2019 $0.0292 11.94000
Q3 2019 $0.0099 11.66000
Q2 2019 $0.0000 11.41000
Q1 2019 $0.0000 11.25000
Q4 2018 $0.0066 10.56000
Q3 2018 $0.0016 11.66000
Q2 2018 $0.0006 11.51000
Q1 2018 $0.0000 11.45000
Q4 2017 $0.0000 10.90000
Q3 2017 $0.0000 10.66000
Q2 2017 $0.0085 10.56000
Q1 2017 $0.0000 10.50000
Q4 2016 $0.0188 10.25000
Q3 2016 $0.0019 10.01000
Q2 2016 $0.0056 9.77000
Q1 2016 $0.0058 9.71000
Q4 2015 $0.0672 9.80000
Q3 2015 $0.0143 9.76000
Q2 2015 $0.0147 10.15000

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.

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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.

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