Fund Stats

  • NAV

    $13.56

    $0.02 (0.15%)

    As of 1/27/23

  • Daily YTD Return

    3.20%

    As of 1/27/23

  • Total Net Assets

    $575.5 Million

    As of 12/31/22

  • MorningStar Rating

    4 stars

    Overall rating as of 12/31/22

  • 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 exposure, thereby improving the quality of the ride.

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Performance

Calendar Year Total Returns

As of 12/31/22
Date Calamos Hedged Equity Fund (NAV) S&P 500 Index Bloomberg US Aggregate Bond Index
2022 -11.11 -18.11 -13.01
2021 13.31 28.71 -1.54
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

Annualized Total Returns

As of 12/31/22 As of 12/31/22
TimeFrame Calamos Hedged Equity Fund (NAV) S&P 500 Index Bloomberg US Aggregate Bond Index
1 Year -11.11 -18.11 -13.01
3 Year 3.37 7.66 -2.71
5 Year 4.99 9.42 0.02
Since Inception 4.92 10.17 0.85
TimeFrame Calamos Hedged Equity Fund (NAV) S&P 500 Index Bloomberg US Aggregate Bond Index
1 Year -11.11 -18.11 -13.01
3 Year 3.37 7.66 -2.71
5 Year 4.99 9.42 0.02
Since Inception 4.92 10.17 0.85

Important Fund Information

10k Performance 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 3/1/2022 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 12/31/22
Sector % of Assets S&P 500 Index
Information Technology 25.3% 25.7%
Health Care 16.2% 15.8%
Financials 11.5% 11.7%
Consumer Discretionary 10.2% 9.8%
Industrials 8.5% 8.7%
Consumer Staples 7.3% 7.2%
Communication Services 7.2% 7.3%
Energy 5.4% 5.2%
Utilities 2.9% 3.2%
Materials 2.6% 2.7%
Real Estate 2.4% 2.7%
Other -0.8% 0.0%

Asset Allocation

As of 12/31/22
Asset Allocation %
Common Stock 98.8781
Cash and Receivables/Payables 1.3136
Other 0.9777
Convertibles 0.6361
Corporate Bonds 0
US Government Securities 0
Sovereign Bonds 0
Options -1.8054

Top 10 Holdings

As of 12/31/22
Company Security Type Industry %
Apple, Inc. Stocks Technology Hardware, Storage & Peripherals 6.1%
Microsoft Corp. Stocks Systems Software 6.0%
Amazon.com, Inc. Stocks Internet & Direct Marketing Retail 2.5%
UnitedHealth Group, Inc. Stocks Managed Health Care 2.0%
Alphabet, Inc. - Class C Stocks Interactive Media & Services 1.7%
Berkshire Hathaway, Inc. - Class B Stocks Multi-Sector Holdings 1.5%
Alphabet, Inc. - Class A Stocks Interactive Media & Services 1.5%
Visa, Inc. - Class A Stocks Data Processing & Outsourced Services 1.3%
Johnson & Johnson Stocks Pharmaceuticals 1.3%
Chevron Corp. Stocks Integrated Oil & Gas 1.2%
Total 25.1%

Fund Facts

As of 12/31/22
Name Fund S&P 500 Index
Number of Holdings 273 503
Portfolio Turnover (12 months) 29.9% N/A
Net Assets $575.5 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
2022 0.0000

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

2022 Capital Gains
Capital gains for Calamos Mutual Funds were declared on December 21, 2022. To view the report, click here.

Distributions

Schedule: QUARTERLY
Most Recent Distributions
Frequency Income Reinvest
Q4 2022 $0.0727 13.21000
Q3 2022 $0.0226 13.15000
Q2 2022 $0.0000 13.00000
Q1 2022 $0.0000 13.98000
Q4 2021 $0.0367 14.56000
Q3 2021 $0.0190 14.43000
Q2 2021 $0.0094 13.08000
Q1 2021 $0.0000 13.08000
Q4 2020 $0.0616 0.00000
Q3 2020 $0.0308 12.52000
Q2 2020 $0.0247 12.13000
Q1 2020 $0.0186 10.56000
Q4 2019 $0.0557 12.08000
Q3 2019 $0.0373 11.79000
Q2 2019 $0.0120 11.54000
Q1 2019 $0.0149 11.36000
Q4 2018 $0.0308 10.65000
Q3 2018 $0.0216 11.76000
Q2 2018 $0.0195 11.59000
Q1 2018 $0.0141 11.52000
Q4 2017 $0.0255 10.95000
Q3 2017 $0.0190 10.71000
Q2 2017 $0.0342 10.60000
Q1 2017 $0.0141 10.54000
Q4 2016 $0.0440 10.27000
Q3 2016 $0.0279 10.04000
Q2 2016 $0.0251 9.80000
Q1 2016 $0.0345 9.73000
Q4 2015 $0.0899 9.82000
Q3 2015 $0.0392 9.78000
Q2 2015 $0.0394 10.17000

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.

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 1-800-582-6959. Read it carefully before investing.

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