Fund Stats

  • NAV

    $7.94

    $0.03 (0.38%)

    As of 6/24/22

  • Daily YTD Return

    11.81%

    As of 6/24/22

  • Total Net Assets

    $41.8 Million

    As of 3/31/22

  • Inception Date

    12/21/00

Overview

Through its multi-sector fixed income strategy, the fund invests mainly in high yield securities from US issuers with the goal of generating high current income and total return in excess of the benchmark over full market cycles.

Key Features

  • Employs bond-by-bond portfolio construction with a focus on being well compensated for risks taken. We believe a disciplined process, grounded in fundamental research, enables us to achieve higher total returns with less volatility.
  • Draws on a broader investable universe to enhance portfolio construction and risk management. Expanding the universe to include bank loans and preferred securities provides additional opportunities.
  • Utilizes robust, independent credit research that unites quantitative and qualitative analyses into historical and forward-looking models. The result is a credit rating reflective of where a company is heading.

Portfolio Fit

The fund can complement investment grade credit exposure, providing attractive income and total return potential for more risk-tolerant investors.

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Performance

Calendar Year Total Returns

As of 3/31/22
Date Calamos High Income Opportunities Fund (NAV) Calamos High Income Opportunities Fund Load-Adjusted Bloomberg US High Yield 2% Issuer Capped Index
YTD 2022 -4.09 -5.04 -4.82
2021 5.59 4.59 5.26
2020 4.03 3.03 7.05
2019 13.47 12.47 14.32
2018 -4.95 -5.85 -2.08
2017 5.18 4.18 7.5
2016 11.04 10.04 17.13
2015 -5.29 -6.2 -4.43
2014 0.04 -0.89 2.46
2013 5.29 4.3 7.44

Annualized Total Returns

As of 3/31/22 As of 5/31/22
TimeFrame Calamos High Income Opportunities Fund (NAV) Calamos High Income Opportunities Fund Load-Adjusted Bloomberg US High Yield 2% Issuer Capped Index
1 Year -0.68 -1.64 -0.66
3 Year 3.56 3.56 4.56
5 Year 3.35 3.35 4.68
10 Year 3.5 3.5 5.74
Since Inception 5.39 5.39 7.43
TimeFrame Calamos High Income Opportunities Fund (NAV) Calamos High Income Opportunities Fund Load-Adjusted Bloomberg US High Yield 2% Issuer Capped Index
1 Year -5.49 -6.41 -5.28
3 Year 2.3 2.3 3.31
5 Year 2.18 2.18 3.55
10 Year 3.26 3.26 5.42
Since Inception 5.17 5.17 6.44

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 12/31/00, 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 2.25%. Had it been included, the Fund's return would have been lower.

The Bloomberg US Corporate High Yield 2% Issuer Capped Index measures the performance of high yield corporate bonds with a maximum allocation of 2% to any one issuer. 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.

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 1.33%, C Shares 2.08% and I Shares 1.08%.

Portfolio

Sector Weightings

As of 3/31/22
Sector % of Assets Bloomberg US High Yield 2% Issuer Capped Index
Basic Industry 4.4% 4.7%
Capital Goods 7.1% 8.7%
Communications 15.0% 16.6%
Consumer Cyclical 16.1% 20.7%
Consumer Non Cyclical 15.7% 13.6%
Energy 10.0% 12.7%
Finance Companies 3.6% 2.6%
Insurance 4.5% 2.5%
Technology 5.5% 6.5%
Transportation 3.5% 2.5%

Market Sector Allocation

As of 3/31/22
Name % of Assets
High Yield Corporate Debt 78.3
Investment Grade Corporate Debt 7.1
Syndicated Loans 8.4
Cash and Receivables/Payables 3.3
Equity 1.7
Preferred Shares 0.9

Month-End Yield

As of 5/31/22
Name %
30-day SEC yield 5.16%
Unsubsidized 30-day SEC yield 4.74%
Distribution Yield 3.65%

Top 10 Holdings

As of 3/31/22
Company Coupon Maturity %
Bausch Health Americas, Inc. 8.50% 1/31/2027 0.8%
HUB International, Ltd. 7.00% 5/1/2026 0.8%
Occidental Petroleum Corp. 4.30% 8/15/2039 0.7%
CSC Holdings, LLC 5.75% 1/15/2030 0.7%
Albertsons, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC 4.63% 1/15/2027 0.6%
Jefferies Finance, LLC / JFIN Co-Issuer Corp. 5.00% 8/15/2028 0.6%
Sprint Corp. 7.13% 6/15/2024 0.6%
CSC Holdings, LLC 5.38% 2/1/2028 0.6%
Petsmart, Inc. / PetSmart Finance Corp. 4.75% 2/15/2028 0.6%
Iron Mountain, Inc. 5.25% 3/15/2028 0.5%
Total - - 6.5%

Fund Facts

As of 3/31/22
Name Fund Bloomberg US High Yield 2% Issuer Capped Index
Number of Holdings 485 2,204
Average Effective Duration 3.6 years 4.0 years
Average Effective Maturity 6.80 years 6.36 years
Option Adjusted Spread 339 bps 321 bps
Portfolio Turnover (12 months) 42.5% N/A
Net Assets $41.8 M N/A

Top Country Exposures

As of 3/31/22
Country %
United States 90.4%
Canada 2.1%
Luxembourg 0.9%
United Kingdom 0.7%
Israel 0.7%
Netherlands 0.4%
France 0.4%
Ireland 0.3%
India 0.2%
Germany 0.2%

Credit Quality of Bonds

As of 3/31/22
Class %
AAA 0.0%
AA 0.0%
A 0.3%
BBB 8.0%
BB 46.9%
B 36.1%
CCC and below 7.4%
Unrated Securities 1.2%

Maturity Schedule

As of 3/31/22
Range %
< 1 Year 3.9%
1 to 3 Years 5.2%
3 to 5 Years 24.6%
5 to 7 Years 32.8%
7 to 10 Years 23.6%
10 to 20 Years 3.5%
> 20 Years 2.0%
Equities and Other 4.4%

Risk Statistics

As of 3/31/22
Name Fund
Annualized Standard Deviation 8.57%
Beta 1.12

Distributions

Total Capital Gains

Schedule: ANNUAL
Year Capital Gains
2008 0.0000
2009 0.0000
2010 0.0000
2011 0.1305
2012 0.1336
2013 0.1912
2014 0.2449
2015 0.0000
2016 0.0000
2017 0.0000
2018 0.0000
2019 0.0000
2020 0.0000
2021 0.0000

Schedule

Name Frequency
Distributions MONTHLY
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: MONTHLY
Most Recent Distributions
Frequency Income Reinvest
May 2022 $0.0252 8.33000
April 2022 $0.0278 8.39000
March 2022 $0.0269 8.69000
February 2022 $0.0260 8.78000
January 2022 $0.0239 8.91000
December 2021 $0.0224 9.14000
November 2021 $0.0245 9.03000
October 2021 $0.0227 9.14000
September 2021 $0.0225 9.17000
August 2021 $0.0301 9.19000
July 2021 $0.0259 9.20000
June 2021 $0.0264 9.20000
May 2021 $0.0266 9.12000
April 2021 $0.0283 9.11000
March 2021 $0.0298 9.05000
March 2021 $0.0298 9.05000
February 2021 $0.0325 9.04000
January 2021 $0.0229 8.99000
December 2020 $0.0254 8.96000
November 2020 $0.0324 8.81000
October 2020 $0.0220 8.45000
September 2020 $0.0244 8.46000
August 2020 $0.0283 8.57000
July 2020 $0.0313 8.47000
June 2020 $0.0289 8.17000
May 2020 $0.0328 8.09000
April 2020 $0.0381 7.76000
March 2020 $0.0424 7.53000
February 2020 $0.0380 8.80000
January 2020 $0.0332 8.98000
December 2019 $0.0350 9.01000
November 2019 $0.0377 8.81000
October 2019 $0.0338 8.82000
September 2019 $0.0292 8.84000
August 2019 $0.0357 8.87000
July 2019 $0.0351 8.93000
June 2019 $0.0368 8.93000
May 2019 $0.0394 8.79000
April 2019 $0.0396 8.97000
March 2019 $0.0287 8.86000
February 2019 $0.0337 8.84000
January 2019 $0.0406 8.71000
December 2018 $0.0407 8.33000
November 2018 $0.0392 8.65000
October 2018 $0.0375 8.82000
September 2018 $0.0365 9.05000
August 2018 $0.0379 9.04000
July 2018 $0.0349 9.02000
June 2018 $0.0389 8.96000
May 2018 $0.0394 8.97000
April 2018 $0.0383 9.00000
March 2018 $0.0380 8.97000
February 2018 $0.0368 9.11000
January 2018 $0.0355 9.26000
December 2017 $0.0453 9.22000
November 2017 $0.0338 9.23000
October 2017 $0.0176 9.31000
September 2017 $0.0218 9.32000
August 2017 $0.0334 9.29000
July 2017 $0.0311 9.31000
June 2017 $0.0267 9.25000
May 2017 $0.0284 9.28000
April 2017 $0.0352 9.26000
March 2017 $0.0288 9.15000
February 2017 $0.0287 9.26000
January 2017 $0.0256 9.19000
December 2016 $0.0311 9.11000
November 2016 $0.0320 8.98000
October 2016 $0.0271 9.03000
September 2016 $0.0259 9.05000
August 2016 $0.0284 9.02000
July 2016 $0.0354 8.91000
June 2016 $0.0409 8.73000
May 2016 $0.0315 8.72000
April 2016 $0.0253 8.74000
March 2016 $0.0288 8.55000
February 2016 $0.0247 8.34000
January 2016 $0.0320 8.32000
December 2015 $0.0406 8.55000
November 2015 $0.0312 8.81000
October 2015 $0.0262 9.03000
September 2015 $0.0284 8.82000
August 2015 $0.0326 9.07000
July 2015 $0.0310 9.28000
June 2015 $0.0348 9.42000
May 2015 $0.0230 9.62000
April 2015 $0.0337 9.61000
March 2015 $0.0297 9.51000
February 2015 $0.0312 9.60000
January 2015 $0.0303 9.38000
December 2014 $0.0526 9.40000
November 2014 $0.0403 9.93000
October 2014 $0.0342 10.06000
September 2014 $0.0350 10.00000
August 2014 $0.0311 10.27000
July 2014 $0.0460 10.18000
June 2014 $0.0387 10.35000
May 2014 $0.0536 10.32000
April 2014 $0.0373 10.29000
March 2014 $0.0507 10.28000
February 2014 $0.0375 10.29000
January 2014 $0.0315 10.13000
December 2013 $0.0405 10.12000
November 2013 $0.0373 10.29000
October 2013 $0.0341 10.29000
September 2013 $0.0341 10.11000
August 2013 $0.0399 10.08000
July 2013 $0.0371 10.21000
June 2013 $0.0484 10.05000
May 2013 $0.0288 10.44000
April 2013 $0.0417 10.50000
March 2013 $0.0401 10.36000
February 2013 $0.0317 10.30000
January 2013 $0.0345 10.34000
December 2012 $0.0405 10.23000
November 2012 $0.0411 10.24000
November 2012 $0.0398 10.25000
September 2012 $0.0440 10.24000
August 2012 $0.0380 10.16000
July 2012 $0.0417 10.11000
June 2012 $0.0327 9.99000
May 2012 $0.0451 9.87000
April 2012 $0.0446 10.09000
March 2012 $0.0396 10.08000
February 2012 $0.0401 10.19000
January 2012 $0.0363 10.04000
December 2011 $0.0409 9.84000
November 2011 $0.0352 9.86000
October 2011 $0.0480 10.01000
September 2011 $0.0489 9.62000
August 2011 $0.0567 9.90000
July 2011 $0.0518 10.32000
June 2011 $0.0478 10.24000
May 2011 $0.0404 10.42000
April 2011 $0.0475 10.48000
March 2011 $0.0419 10.39000
February 2011 $0.0457 10.40000
January 2011 $0.0352 10.28000
December 2010 $0.0485 10.18000
November 2010 $0.0537 10.10000
October 2010 $0.0485 10.29000
September 2010 $0.0445 10.12000
August 2010 $0.0472 9.96000
July 2010 $0.0516 9.88000
June 2010 $0.0515 9.74000
May 2010 $0.0525 9.71000
April 2010 $0.0521 10.07000
March 2010 $0.0499 9.97000
February 2010 $0.0485 9.81000
January 2010 $0.0136 9.80000
December 2009 $0.2115 9.76000
September 2009 $0.1502 9.51000
June 2009 $0.1160 8.69000
March 2009 $0.0563 7.44000
December 2008 $0.1050 6.90000
September 2008 $0.1080 9.17000
June 2008 $0.1285 10.20000
March 2008 $0.0587 9.87000
December 2007 $0.3562 10.42000
September 2007 $0.1193 10.97000
June 2007 $0.1147 11.06000
March 2007 $0.0949 11.06000
December 2006 $0.2238 10.93000
September 2006 $0.1010 10.76000
June 2006 $0.1010 10.50000
April 2006 $0.2009 10.91000
December 2005 $0.1811 10.64000
September 2005 $0.1230 10.89000
June 2005 $0.1255 10.73000
April 2005 $0.2043 10.76000
December 2004 $0.1729 11.24000
September 2004 $0.1408 10.97000
June 2004 $0.1834 10.70000
March 2004 $0.1303 11.00000
December 2003 $0.2146 10.95000
September 2003 $0.1578 10.52000
June 2003 $0.1308 10.58000
March 2003 $0.0836 9.76000
December 2002 $0.1337 9.31000
September 2002 $0.1067 8.81000
June 2002 $0.0940 9.70000
March 2002 $0.0773 10.04000
December 2001 $0.1412 9.77000
September 2001 $0.1110 9.34000
June 2001 $0.1610 9.80000
March 2001 $0.1650 9.70000
December 2000 $0.1738 9.44000

Fees & Expenses

Annual Expenses

Name A Shares C Shares I Shares
Gross Expense Ratio 1.33% 2.08% 1.08%
Net Expense Ratio 1.00% 1.75% 0.75%

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 8/02/99 12/21/00 3/01/02
Ticker Symbol CHYDX CCHYX CIHYX
CUSIP number 128119815 128119799 128119781

Sales & Distribution

Name A Shares C Shares I Shares
Sales Load Front-End Level-Load N/A
Maximum Sales Charge 2.25 1.00 N/A
Redemption Fee 1.00% 1.00% 1.00%
US Bank Fund Number 608 622 632
Dividends MONTHLY MONTHLY MONTHLY
Capital Gains ANNUAL ANNUAL ANNUAL

Calamos High Income Opportunities Fund has a redemption fee of 1.00% on shares held sixty days or less (as a percentage of amount redeemed) for all Class A, Class C, and Class I Shares.

The Fund's investment advisor has contractually agreed to reimburse Fund expenses through March 1, 2023 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 extra- ordinary expenses, if any) of Class A, Class C, and Class I are limited to 1.00%, 1.75%, and 0.75% 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 expenses 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.

Literature

Latest Related Blog Posts

Videos

About the Fund

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Calamos High Income Opportunities Fund Quarterly Commentary

A quarterly update of the Calamos High Income Opportunities Fund’s performance, positioning, related market commentary and outlook.

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Calamos High Income Opportunities Fund Fact Sheet

The High Income Opportunities Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.

Prospectus and Reports

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Calamos High Income Opportunities Fund Prospectus

This summary contains important information about the High Income Opportunities 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.