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.
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.
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 Hedged Equity Fund include: covered call writing risk, options risk, equity securities risk, correlation risk, mid-sized company risk, interest rate risk, credit risk, liquidity risk, portfolio turnover risk, portfolio selection risk, foreign securities risk, American depository receipts, and REITs risks. As of March 1, Calamos Hedged Equity Income Fund's name has been changed to Calamos Hedged Equity Fund.
Options Risk - The Fund's ability to close out its position as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the option market. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured.
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 2/28/2020 are as follows: A Shares 1.23%, C Shares 1.98% and I Shares 0.98%.
Morningstar Options-Based Category represents funds that generate a significant portion of their returns from the collection of premiums on options contracts sold.
Morningstar RatingsTM are based on risk-adjusted returns and are through 12/31/20 for Class I shares and will differ for other share classes. Morningstar ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly historical performance (reflecting sales charges), placing more emphasis on downward variations and rewarding consistent performance. Within each asset class, the top 10%, the next 22.5%, 35%, 22.5%, and the bottom 10% receive 5, 4, 3, 2 or 1 star, respectively. Each fund is rated exclusively against U.S. domiciled funds. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Source: ©2020 Morningstar, Inc.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
Historical Sustainability Score as of 11/30/2020. Sustainability Rating as of 11/30/2020. Sustainalytics provides company-level analysis used in the calculation of Morningstar's Historical Sustainability Score. ©2020 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar® Sustainability Rating is intended to measure how well the issuing companies of securities within a fund's portfolio are managing their environmental, social, and governance ("ESG") risks and opportunities relative to the fund's Morningstar category peers. The Morningstar Sustainability Rating calculation is a three-step process. First, each fund with at least 67% of assets covered by a company level ESG score from Sustainalytics receives a Morningstar® Portfolio Sustainability Score, an asset weighted-average of normalized company level ESG scores with deductions made for controversial incidents by issuing companies, such as environmental accidents, fraud, or discriminatory behavior. Second, the Portfolio Sustainability Score is rescaled to reflect an exponential weighted moving average of scores over the past 12 months. Third, the Morningstar Sustainability Rating is then assigned to all scored funds within Morningstar Categories in which at least 30 funds received a Portfolio Sustainability Score and is determined by each fund's rank: High (highest 10%); Above Average (next 22.5%); Average (next 35%); Below Average (next 22.5%); Low (lowest 10%). The Morningstar Sustainability Rating is depicted by globe icons where High equals 5 globes and Low equals 1 globe. Past performance is no guarantee of future results.
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.
Inception Date: | 12/31/14 |
---|---|
Current NAV: | $13.23 |
$ Change: | $-0.03 |
% Change: | -0.23% |
Total Net Assets (As of 12/31/20): | $401.9 M |
Morningstar Category: | Options-based |
Morningstar Overall RatingTM Among 113 Options-based funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 4 stars for 3 years and 5 stars for 5 years out of 113 and 70 Options-based Funds, respectively, for the period ended 12/31/2020.
Date | Calamos Hedged Equity Fund (NAV) | S&P 500 Index | BBgBarc US Aggregate Bond Index |
---|---|---|---|
2020 | 9.66 | 18.4 | 7.51 |
2019 | 14.47 | 31.49 | 8.72 |
2018 | 0.89 | -4.38 | 0.01 |
2017 | 8.37 | 21.83 | 3.54 |
2016 | 5.45 | 11.96 | 2.65 |
2015 | 0.76 | 1.38 | 0.55 |
2014* | 0 | 0 | 0 |
*Reflects the fund's return from the inception date of 12/31/2014 through 12/31/2014.
Date | Calamos Hedged Equity Fund | S&P 500 Index |
---|---|---|
12/31/2014 12:00:00 AM | 10000 | 10000 |
1/31/2015 12:00:00 AM | 9720 | 9699.8 |
2/28/2015 12:00:00 AM | 10060 | 10257.25 |
3/31/2015 12:00:00 AM | 9940 | 10095.08 |
4/30/2015 12:00:00 AM | 10040 | 10191.89 |
5/31/2015 12:00:00 AM | 10150 | 10322.96 |
6/30/2015 12:00:00 AM | 10062.8 | 10123.11 |
7/31/2015 12:00:00 AM | 10153.09 | 10335.19 |
8/31/2015 12:00:00 AM | 9832.05 | 9711.66 |
9/30/2015 12:00:00 AM | 9633.66 | 9471.4 |
10/31/2015 12:00:00 AM | 10066.52 | 10270.31 |
11/30/2015 12:00:00 AM | 10086.65 | 10300.81 |
12/31/2015 12:00:00 AM | 10047.38 | 10138.37 |
1/31/2016 12:00:00 AM | 9740.12 | 9635.3 |
2/29/2016 12:00:00 AM | 9709.4 | 9622.3 |
3/31/2016 12:00:00 AM | 10016.98 | 10275.07 |
4/30/2016 12:00:00 AM | 10047.81 | 10314.94 |
5/31/2016 12:00:00 AM | 10140.27 | 10500.2 |
6/30/2016 12:00:00 AM | 10170.46 | 10527.39 |
7/31/2016 12:00:00 AM | 10335.17 | 10915.54 |
8/31/2016 12:00:00 AM | 10345.46 | 10930.82 |
9/30/2016 12:00:00 AM | 10377.99 | 10932.9 |
10/31/2016 12:00:00 AM | 10347.04 | 10733.48 |
11/30/2016 12:00:00 AM | 10481.15 | 11130.94 |
12/31/2016 12:00:00 AM | 10571.42 | 11351 |
1/31/2017 12:00:00 AM | 10643.9 | 11566.33 |
2/28/2017 12:00:00 AM | 10882.04 | 12025.63 |
3/31/2017 12:00:00 AM | 10899.03 | 12039.7 |
4/30/2017 12:00:00 AM | 10930.11 | 12163.34 |
5/31/2017 12:00:00 AM | 10981.91 | 12334.48 |
6/30/2017 12:00:00 AM | 11002.86 | 12411.45 |
7/31/2017 12:00:00 AM | 11085.75 | 12666.63 |
8/31/2017 12:00:00 AM | 11096.11 | 12705.39 |
9/30/2017 12:00:00 AM | 11171.16 | 12967.5 |
10/31/2017 12:00:00 AM | 11254.14 | 13270.16 |
11/30/2017 12:00:00 AM | 11388.98 | 13677.16 |
12/31/2017 12:00:00 AM | 11418.94 | 13829.25 |
1/31/2018 12:00:00 AM | 11917.67 | 14620.97 |
2/28/2018 12:00:00 AM | 11896.89 | 14082.04 |
3/31/2018 12:00:00 AM | 11806.83 | 13724.22 |
4/30/2018 12:00:00 AM | 11817.23 | 13776.92 |
5/31/2018 12:00:00 AM | 11921.25 | 14108.67 |
6/30/2018 12:00:00 AM | 11903.67 | 14195.44 |
7/31/2018 12:00:00 AM | 12122.37 | 14723.65 |
8/31/2018 12:00:00 AM | 12289 | 15203.49 |
9/30/2018 12:00:00 AM | 12272.54 | 15290 |
10/31/2018 12:00:00 AM | 11938.88 | 14244.93 |
11/30/2018 12:00:00 AM | 12032.72 | 14535.24 |
12/31/2018 12:00:00 AM | 11486.77 | 13222.85 |
1/31/2019 12:00:00 AM | 11956.49 | 14282.53 |
2/28/2019 12:00:00 AM | 12095.27 | 14741.14 |
3/31/2019 12:00:00 AM | 12211.43 | 15027.57 |
4/30/2019 12:00:00 AM | 12425.11 | 15636.03 |
5/31/2019 12:00:00 AM | 12093.91 | 14642.36 |
6/30/2019 12:00:00 AM | 12454.53 | 15674.36 |
7/31/2019 12:00:00 AM | 12529.36 | 15899.6 |
8/31/2019 12:00:00 AM | 12486.76 | 15647.75 |
9/30/2019 12:00:00 AM | 12571.67 | 15940.52 |
10/31/2019 12:00:00 AM | 12732.59 | 16285.79 |
11/30/2019 12:00:00 AM | 12936.31 | 16876.96 |
12/31/2019 12:00:00 AM | 13117.42 | 17386.31 |
1/31/2020 12:00:00 AM | 13127.91 | 17379.53 |
2/29/2020 12:00:00 AM | 12632.99 | 15948.84 |
3/31/2020 12:00:00 AM | 11891.43 | 13979 |
4/30/2020 12:00:00 AM | 12720.26 | 15770.97 |
5/31/2020 12:00:00 AM | 12935.23 | 16522.14 |
6/30/2020 12:00:00 AM | 13170.65 | 16850.77 |
7/31/2020 12:00:00 AM | 13376.11 | 17800.81 |
8/31/2020 12:00:00 AM | 13818.86 | 19080.34 |
9/30/2020 12:00:00 AM | 13607.43 | 18355.28 |
10/31/2020 12:00:00 AM | 13358.41 | 17867.22 |
11/30/2020 12:00:00 AM | 14093.12 | 19822.96 |
12/31/2020 12:00:00 AM | 14335.52 | 20585.16 |
TimeFrame | Calamos Hedged Equity Fund (NAV) | S&P 500 Index | BBgBarc US Aggregate Bond Index |
---|---|---|---|
6 Month | 9.06 | 22.16 | 1.29 |
1 Year | 9.66 | 18.4 | 7.51 |
3 Year | 8.19 | 14.18 | 5.34 |
5 Year | 7.67 | 15.22 | 4.44 |
Since Inception | 6.49 | 12.79 | 3.78 |
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 Hedged Equity Fund include: covered call writing risk, options risk, equity securities risk, correlation risk, mid-sized company risk, interest rate risk, credit risk, liquidity risk, portfolio turnover risk, portfolio selection risk, foreign securities risk, American depository receipts, and REITs risks. As of March 1, Calamos Hedged Equity Income Fund's name has been changed to Calamos Hedged Equity Fund.
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 12/31/14, 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.
S&P 500 Index-Is generally considered representative of the U.S. stock market.
Bloomberg Barclays 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 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 2/28/2020 are as follows: A Shares 1.23%, C Shares 1.98% and I Shares 0.98%.
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 | % of Assets | S&P 500 Index |
---|---|---|
Information Technology | 28.6% | 27.6% |
Consumer Discretionary | 13.6% | 12.7% |
Health Care | 13.6% | 13.5% |
Financials | 11.3% | 10.4% |
Communication Services | 11.3% | 10.8% |
Industrials | 8.3% | 8.4% |
Consumer Staples | 6.8% | 6.5% |
Utilities | 2.7% | 2.8% |
Materials | 2.6% | 2.6% |
Energy | 2.6% | 2.3% |
Real Estate | 2.3% | 2.4% |
Other | -4.4% | 0.0% |
Asset Allocation | |
---|---|
Common Stock | 102.0267 |
Convertibles | 1.6273 |
Cash and Receivables/Payables | 0.7788 |
Other | 0.3002 |
Corporate Bonds | 0 |
US Government Securities | 0 |
Sovereign Bonds | 0 |
Options | -4.733 |
Company | Security Type | Industry | % |
---|---|---|---|
Apple, Inc. | Stocks | Technology Hardware, Storage & Peripherals | 6.6% |
Microsoft Corp. | Stocks | Systems Software | 5.7% |
Amazon.com, Inc. | Stocks | Internet & Direct Marketing Retail | 4.7% |
Facebook, Inc. - Class A | Stocks | Interactive Media & Services | 2.6% |
Alphabet, Inc. - Class C | Stocks | Interactive Media & Services | 1.7% |
Alphabet, Inc. - Class A | Stocks | Interactive Media & Services | 1.7% |
Tesla, Inc. | Convertible Bonds | Automobile Manufacturers | 1.6% |
JPMorgan Chase & Company | Stocks | Diversified Banks | 1.5% |
Visa, Inc. - Class A | Stocks | Data Processing & Outsourced Services | 1.5% |
Berkshire Hathaway, Inc. - Class B | Stocks | Multi-Sector Holdings | 1.4% |
Total | 29.0% |
Name | Fund | S&P 500 Index |
---|---|---|
Number of Holdings | 272 | 505 |
Portfolio Turnover (12 months) | 63.8% | N/A |
Net Assets | $401.9 M | N/A |
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 Hedged Equity Fund include: covered call writing risk, options risk, equity securities risk, correlation risk, mid-sized company risk, interest rate risk, credit risk, liquidity risk, portfolio turnover risk, portfolio selection risk, foreign securities risk, American depository receipts, and REITs risks. As of March 1, Calamos Hedged Equity Income Fund's name has been changed to Calamos Hedged Equity Fund.
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.
"Other" may include securities that don't have a sector classification such as options, ETFs, or Treasurys.
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.
Options Risk - The Fund's ability to close out its position as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the option market. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured.
Current (SEC) Yield-Reflects the dividends and interest earned by the Fund during the 30-day period ended as of the date stated above after deducting the Fund's expenses for that same period.
Distribution Yield -Is calculated by dividing the sum of all distributions paid by the fund over the trailing 12 months by the fund's NAV as of the date of the period presented. Distributions may include income, short-term capital gains, and long-term capital gains. Short-term and long-term capital gains represent the net trading profits realized over the trailing 12 months in the fund and are not guaranteed. Distribution Yield is based on distributions made in the past and is therefore not reflective of the fund's current portfolio.
Turnover-Is the percentage of assets in a portfolio that changed over a certain period, often a year; higher turnover indicates greater buying and selling activity.
S&P 500 Index-Is generally considered representative of the U.S. stock market.
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.
Year | Capital Gains |
---|---|
2015 | 0.0872 |
2016 | 0.0000 |
2017 | 0.0000 |
2018 | 0.2526 |
2019 | 0.0000 |
2020 | 0.0000 |
Name | Frequency |
---|---|
Distributions | QUARTERLY |
Capital Gains | ANNUAL |
2020 Capital Gains
Capital gains for Calamos Mutual Funds were declared on December 22, 2020. To view the report, click here.
Frequency | Income | Total | Reinvest |
---|---|---|---|
Q4 2020 | $0.0616 | $0.0616 | 0.00000 |
Q3 2020 | $0.0308 | $0.0308 | 12.52000 |
Q2 2020 | $0.0247 | $0.0247 | 12.13000 |
Q1 2020 | $0.0186 | $0.0186 | 10.56000 |
Q4 2019 | $0.0557 | $0.0557 | 12.08000 |
Q3 2019 | $0.0373 | $0.0373 | 11.79000 |
Q2 2019 | $0.0120 | $0.0120 | 11.54000 |
Q1 2019 | $0.0149 | $0.0149 | 11.36000 |
Q4 2018 | $0.0308 | $0.0308 | 10.65000 |
Q3 2018 | $0.0216 | $0.0216 | 11.76000 |
Q2 2018 | $0.0195 | $0.0195 | 11.59000 |
Q1 2018 | $0.0141 | $0.0141 | 11.52000 |
Q4 2017 | $0.0255 | $0.0255 | 10.95000 |
Q3 2017 | $0.0190 | $0.0190 | 10.71000 |
Q2 2017 | $0.0342 | $0.0342 | 10.60000 |
Q1 2017 | $0.0141 | $0.0141 | 10.54000 |
Q4 2016 | $0.0440 | $0.0440 | 10.27000 |
Q3 2016 | $0.0279 | $0.0279 | 10.04000 |
Q2 2016 | $0.0251 | $0.0251 | 9.80000 |
Q1 2016 | $0.0345 | $0.0345 | 9.73000 |
Q4 2015 | $0.0899 | $0.0899 | 9.82000 |
Q3 2015 | $0.0392 | $0.0392 | 9.78000 |
Q2 2015 | $0.0394 | $0.0394 | 10.17000 |
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 Hedged Equity Fund include: covered call writing risk, options risk, equity securities risk, correlation risk, mid-sized company risk, interest rate risk, credit risk, liquidity risk, portfolio turnover risk, portfolio selection risk, foreign securities risk, American depository receipts, and REITs risks. As of March 1, Calamos Hedged Equity Income Fund's name has been changed to Calamos Hedged Equity Fund.
Options Risk - The Fund's ability to close out its position as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the option market. There are significant differences between the securities and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully will depend on the ability of the Fund's investment adviser to predict pertinent market movements, which cannot be assured.
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 2/28/2020 are as follows: A Shares 1.23%, C Shares 1.98% and I Shares 0.98%.
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.
Name | A Shares | C Shares | I Shares |
---|---|---|---|
Gross Expense Ratio | 1.23% | 1.98% | 0.98% |
Net Expense Ratio | 1.17% | 1.92% | 0.92% |
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 |
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 |
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 |
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 Hedged Equity Fund include: covered call writing risk, options risk, equity securities risk, correlation risk, mid-sized company risk, interest rate risk, credit risk, liquidity risk, portfolio turnover risk, portfolio selection risk, foreign securities risk, American depository receipts, and REITs risks. As of March 1, Calamos Hedged Equity Income Fund's name has been changed to Calamos Hedged Equity Fund.
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.
The Fund's investment advisor has contractually agreed to reimburse Fund expenses through March 1, 2022 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 1.25%, 2.00%, and 1.00% of average net assets, respectively. For the period of January 22, 2020 through February 28, 2021, the Fund's investment advisor has contractually agreed to reimburse Fund expenses 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 1.15%, 1.90%, and 0.90% 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.
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.
A quarterly update of the Calamos Hedged Equity Fund’s performance, positioning, related market commentary and outlook.
The Hedged Equity Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, and returns.
This brochure provides an introduction to Alternative Investments, and explores that many types of alternative funds. Learn how an alternative allocation may potentially enhance a portfolio’s diversification and decrease exposure to market volatility.
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.
You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.
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.
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.
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.
January 5, 2021
Investment professionals, join us for a January 2020 series of calls with members of the Calamos Investment Management Team providing outlooks on convertibles, liquid alternatives, U.S. and emerging markets equities, and fixed income.
December 14, 2020
We revisit some of what Calamos portfolio management teams were saying (and doing) as markets began to reflect the uncertainty related to COVID-19 and its repercussions—and the impact of positioning decisions made, largely in the tumult of the first half of the year.
November 16, 2020
The market moved fast in both directions in 2020. The S&P 500 plunged into a bear market in a record 16 days and then recovered in a record 126 days. Through November 13, it's posted 11 all-time highs. Fortunately, there’s an alternative to hopping in and out of stocks, hoping to outfox the market.