Fund Stats

  • NAV

    $14.42

    $0.02 (0.14%)

    As of 12/3/21

  • Daily YTD Return

    4.19%

    As of 12/3/21

  • Total Net Assets

    $15.8 Billion

    As of 9/30/21

  • Inception Date

    5/10/00

Overview

The fund combines two complementary strategies with different responses to volatility: convertible arbitrage seeks alpha and uncorrelated returns, while hedged equity provides income from options writing and upside participation.

Key Features

  • Generates returns not dependent on interest rates, a key differentiator from traditional bond strategies.
  • Employs an absolute-return strategy with historically lower beta to fixed-income and equity markets as well as lower volatility and limited drawdowns.
  • As one of the first alternative mutual funds, capitalizes on more than four decades of experience in the convertible space.

Portfolio Fit

The fund may provide potential diversification, particularly in a low interest-rate environment.

Morningstar Rating

As of April 30, 2021, Morningstar assigned CMNIX to a new category, Relative Value Arbitrage. This category is not assigned a star rating by Morningstar due to its small peer set. For more information about the changes, click here.

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Performance

Calendar Year Total Returns

As of 9/30/21
Date Calamos Market Neutral Income Fund (NAV) Bloomberg US Govt/Credit Bond Index Bloomberg Short Treasury 1-3 Month Index
YTD 2021 3.32 -1.93 0.03
2020 5.35 8.93 0.56
2019 6.73 9.71 2.22
2018 1.8 -0.42 1.83
2017 4.75 4 0.82
2016 5.04 3.05 0.28
2015 1.3 0.15 0.03
2014 2.21 6.01 0.03
2013 6.17 -2.35 0.05
2012 6.05 4.82 0.09
2011 2.71 8.74 0.07

Growth of 10K

As of 9/30/21
Date Calamos Market Neutral Income Fund Bloomberg US Govt/Credit Bond Index
5/10/2000 12:00:00 AM 10000 10000
5/31/2000 12:00:00 AM 10069.39 10000
6/30/2000 12:00:00 AM 10385.12 10204.2
7/31/2000 12:00:00 AM 10369.57 10312.24
8/31/2000 12:00:00 AM 10633.86 10457.82
9/30/2000 12:00:00 AM 10649 10497.18
10/31/2000 12:00:00 AM 10594.07 10563.02
11/30/2000 12:00:00 AM 10393.75 10743.61
12/31/2000 12:00:00 AM 10532.07 10955.59
1/31/2001 12:00:00 AM 10915.21 11139.35
2/28/2001 12:00:00 AM 10907.05 11254.31
3/31/2001 12:00:00 AM 10913.5 11305.97
4/30/2001 12:00:00 AM 11218.25 11221.2
5/31/2001 12:00:00 AM 11242.96 11285.76
6/30/2001 12:00:00 AM 11186.43 11339.95
7/31/2001 12:00:00 AM 11194.73 11622.52
8/31/2001 12:00:00 AM 11277.72 11771.72
9/30/2001 12:00:00 AM 11166.65 11880.03
10/31/2001 12:00:00 AM 11333.94 12181.41
11/30/2001 12:00:00 AM 11450.21 11981.53
12/31/2001 12:00:00 AM 11448.97 11887.1
1/31/2002 12:00:00 AM 11516.46 11974.45
2/28/2002 12:00:00 AM 11533.34 12076.11
3/31/2002 12:00:00 AM 11577.32 11831.04
4/30/2002 12:00:00 AM 11662.26 12060.24
5/31/2002 12:00:00 AM 11730.21 12171.53
6/30/2002 12:00:00 AM 11752.99 12275.08
7/31/2002 12:00:00 AM 11650.42 12422.94
8/31/2002 12:00:00 AM 11684.61 12701.47
9/30/2002 12:00:00 AM 11818.79 12974.69
10/31/2002 12:00:00 AM 11913.55 12850.64
11/30/2002 12:00:00 AM 12199.49 12858.19
12/31/2002 12:00:00 AM 12236.34 13198.95
1/31/2003 12:00:00 AM 12364.14 13198.54
2/28/2003 12:00:00 AM 12408.14 13433.56
3/31/2003 12:00:00 AM 12434.14 13416.14
4/30/2003 12:00:00 AM 12619.99 13559.44
5/31/2003 12:00:00 AM 12796.98 13944.83
6/30/2003 12:00:00 AM 12814.6 13888.99
7/31/2003 12:00:00 AM 12706.69 13306.79
8/31/2003 12:00:00 AM 12706.69 13394.51
9/30/2003 12:00:00 AM 12882.85 13818.88
10/31/2003 12:00:00 AM 13119.24 13643.94
11/30/2003 12:00:00 AM 13259.44 13680.15
12/31/2003 12:00:00 AM 13415.24 13815.13
1/31/2004 12:00:00 AM 13577.1 13940.59
2/29/2004 12:00:00 AM 13615.19 14111.18
3/31/2004 12:00:00 AM 13717.89 14240.71
4/30/2004 12:00:00 AM 13583.96 13803.46
5/31/2004 12:00:00 AM 13325.67 13732.75
6/30/2004 12:00:00 AM 13395.67 13789.28
7/31/2004 12:00:00 AM 13356.47 13934.95
8/31/2004 12:00:00 AM 13503.46 14229.83
9/30/2004 12:00:00 AM 13624.3 14279.61
10/31/2004 12:00:00 AM 13703.45 14403.3
11/30/2004 12:00:00 AM 13910.75 14243.06
12/31/2004 12:00:00 AM 14108.49 14394.45
1/31/2005 12:00:00 AM 13908.3 14494.51
2/28/2005 12:00:00 AM 13908.3 14399.03
3/31/2005 12:00:00 AM 13613.27 14297.62
4/30/2005 12:00:00 AM 13319.82 14512.01
5/31/2005 12:00:00 AM 13504.22 14694.02
6/30/2005 12:00:00 AM 13635.81 14790.02
7/31/2005 12:00:00 AM 13898.67 14623.53
8/31/2005 12:00:00 AM 13854.86 14841.87
9/30/2005 12:00:00 AM 13905.21 14647.68
10/31/2005 12:00:00 AM 13717.01 14522.31
11/30/2005 12:00:00 AM 13838.79 14596.75
12/31/2005 12:00:00 AM 13878.31 14735.43
1/31/2006 12:00:00 AM 14232.7 14708.47
2/28/2006 12:00:00 AM 14232.7 14748.24
3/31/2006 12:00:00 AM 14369.89 14586.23
4/30/2006 12:00:00 AM 14409.93 14540.52
5/31/2006 12:00:00 AM 14352.1 14532.39
6/30/2006 12:00:00 AM 14363.48 14565.81
7/31/2006 12:00:00 AM 14421.72 14755.42
8/31/2006 12:00:00 AM 14608.11 14988.76
9/30/2006 12:00:00 AM 14726.18 15135.47
10/31/2006 12:00:00 AM 14890.72 15230.75
11/30/2006 12:00:00 AM 14984.74 15409.01
12/31/2006 12:00:00 AM 15086.84 15292.18
1/31/2007 12:00:00 AM 15206.29 15279.48
2/28/2007 12:00:00 AM 15218.24 15543.21
3/31/2007 12:00:00 AM 15286.44 15516.16
4/30/2007 12:00:00 AM 15478.57 15607.09
5/31/2007 12:00:00 AM 15610.66 15472.55
6/30/2007 12:00:00 AM 15564.86 15440.06
7/31/2007 12:00:00 AM 15407.64 15594
8/31/2007 12:00:00 AM 15516.49 15793.45
9/30/2007 12:00:00 AM 15820.18 15904
10/31/2007 12:00:00 AM 16100.51 16048.57
11/30/2007 12:00:00 AM 15990.81 16365.53
12/31/2007 12:00:00 AM 16013.14 16397.11
1/31/2008 12:00:00 AM 15665.3 16709.31
2/29/2008 12:00:00 AM 15565.92 16814.41
3/31/2008 12:00:00 AM 15563.14 16812.4
4/30/2008 12:00:00 AM 15826.08 16713.04
5/31/2008 12:00:00 AM 15963.8 16540.89
6/30/2008 12:00:00 AM 15369.76 16557.93
7/31/2008 12:00:00 AM 15470.71 16557.76
8/31/2008 12:00:00 AM 15533.8 16710.76
9/30/2008 12:00:00 AM 14910.55 16287.14
10/31/2008 12:00:00 AM 13841.87 15879.15
11/30/2008 12:00:00 AM 13600.15 16582.12
12/31/2008 12:00:00 AM 13917.55 17332.46
1/31/2009 12:00:00 AM 13687.39 17066.06
2/28/2009 12:00:00 AM 13200.01 16925.09
3/31/2009 12:00:00 AM 13556.91 17111.44
4/30/2009 12:00:00 AM 14130.32 17143.61
5/31/2009 12:00:00 AM 14498.93 17280.07
6/30/2009 12:00:00 AM 14657.66 17428.51
7/31/2009 12:00:00 AM 15083.12 17739.78
8/31/2009 12:00:00 AM 15206.64 17948.75
9/30/2009 12:00:00 AM 15429.41 18153.55
10/31/2009 12:00:00 AM 15512.14 18196.75
11/30/2009 12:00:00 AM 15718.97 18442.96
12/31/2009 12:00:00 AM 15880.88 18115.96
1/31/2010 12:00:00 AM 15659.35 18386.07
2/28/2010 12:00:00 AM 15783.96 18461.45
3/31/2010 12:00:00 AM 16130.18 18396.28
4/30/2010 12:00:00 AM 16130.18 18621.09
5/31/2010 12:00:00 AM 15644.75 18772.85
6/30/2010 12:00:00 AM 15412.46 19110.76
7/31/2010 12:00:00 AM 15843.67 19326.71
8/31/2010 12:00:00 AM 15676.75 19686.19
9/30/2010 12:00:00 AM 16199.88 19738.36
10/31/2010 12:00:00 AM 16493.4 19739.94
11/30/2010 12:00:00 AM 16451.47 19584.58
12/31/2010 12:00:00 AM 16708.42 19310.59
1/31/2011 12:00:00 AM 16806.87 19325.66
2/28/2011 12:00:00 AM 17060.03 19370.11
3/31/2011 12:00:00 AM 17015.31 19363.91
4/30/2011 12:00:00 AM 17255.36 19619.12
5/31/2011 12:00:00 AM 17227.12 19906.35
6/30/2011 12:00:00 AM 17065.41 19813.58
7/31/2011 12:00:00 AM 17136.34 20200.94
8/31/2011 12:00:00 AM 16880.99 20541.12
9/30/2011 12:00:00 AM 16491.5 20753.52
10/31/2011 12:00:00 AM 17104.4 20778.63
11/30/2011 12:00:00 AM 17104.4 20730.22
12/31/2011 12:00:00 AM 17161.81 20997.64
1/31/2012 12:00:00 AM 17562.92 21221.68
2/29/2012 12:00:00 AM 17777.8 21197.7
3/31/2012 12:00:00 AM 17839.65 21015.29
4/30/2012 12:00:00 AM 17897.11 21298.06
5/31/2012 12:00:00 AM 17494.93 21557.44
6/30/2012 12:00:00 AM 17816.82 21554.21
7/31/2012 12:00:00 AM 18004.21 21906.88
8/31/2012 12:00:00 AM 18177.19 21911.66
9/30/2012 12:00:00 AM 18318.2 21927.78
10/31/2012 12:00:00 AM 18173.5 22004.42
11/30/2012 12:00:00 AM 18202.44 22069.8
12/31/2012 12:00:00 AM 18199.65 22010.19
1/31/2013 12:00:00 AM 18432.23 21833.47
2/28/2013 12:00:00 AM 18446.77 21961.28
3/31/2013 12:00:00 AM 18578.53 21974.21
4/30/2013 12:00:00 AM 18622.31 22243.31
5/31/2013 12:00:00 AM 18651.5 21815.91
6/30/2013 12:00:00 AM 18497.81 21422.54
7/31/2013 12:00:00 AM 18776.52 21470.96
8/31/2013 12:00:00 AM 18615.16 21339.98
9/30/2013 12:00:00 AM 18819.85 21500.46
10/31/2013 12:00:00 AM 19084.71 21687.3
11/30/2013 12:00:00 AM 19187.71 21626.14
12/31/2013 12:00:00 AM 19322.65 21493.14
1/31/2014 12:00:00 AM 19141.92 21807.8
2/28/2014 12:00:00 AM 19397.95 21941.7
3/31/2014 12:00:00 AM 19424.16 21918.44
4/30/2014 12:00:00 AM 19469.54 22098.83
5/31/2014 12:00:00 AM 19590.57 22348.11
6/30/2014 12:00:00 AM 19667.97 22339.17
7/31/2014 12:00:00 AM 19561.9 22314.59
8/31/2014 12:00:00 AM 19789.19 22581.92
9/30/2014 12:00:00 AM 19658.14 22377.56
10/31/2014 12:00:00 AM 19734.1 22600.21
11/30/2014 12:00:00 AM 19825.25 22766.78
12/31/2014 12:00:00 AM 19749.34 22784.31
1/31/2015 12:00:00 AM 19579.88 23386.04
2/28/2015 12:00:00 AM 19949.6 23088.57
3/31/2015 12:00:00 AM 19867.47 23203.78
4/30/2015 12:00:00 AM 20068.47 23079.87
5/31/2015 12:00:00 AM 20192.16 23001.17
6/30/2015 12:00:00 AM 20049.52 22717.11
7/31/2015 12:00:00 AM 20157.98 22882.26
8/31/2015 12:00:00 AM 19801.61 22828.94
9/30/2015 12:00:00 AM 19624.54 22988.98
10/31/2015 12:00:00 AM 20106.22 22989.9
11/30/2015 12:00:00 AM 20059.61 22916.33
12/31/2015 12:00:00 AM 20006.16 22818.02
1/31/2016 12:00:00 AM 19657.4 23139.29
2/29/2016 12:00:00 AM 19609.84 23335.75
3/31/2016 12:00:00 AM 20052.14 23609.24
4/30/2016 12:00:00 AM 20227.06 23721.39
5/31/2016 12:00:00 AM 20354.28 23716.88
6/30/2016 12:00:00 AM 20410.61 24238.89
7/31/2016 12:00:00 AM 20665.95 24432.56
8/31/2016 12:00:00 AM 20713.82 24382.96
9/30/2016 12:00:00 AM 20786.18 24336.87
10/31/2016 12:00:00 AM 20786.18 24101.54
11/30/2016 12:00:00 AM 20930.31 23462.6
12/31/2016 12:00:00 AM 21013.48 23512.81
1/31/2017 12:00:00 AM 21127.77 23578.42
2/28/2017 12:00:00 AM 21356.36 23758.79
3/31/2017 12:00:00 AM 21395.49 23737.64
4/30/2017 12:00:00 AM 21444.64 23933.24
5/31/2017 12:00:00 AM 21493.79 24132.37
6/30/2017 12:00:00 AM 21597.69 24139.12
7/31/2017 12:00:00 AM 21696.24 24240.03
8/31/2017 12:00:00 AM 21696.24 24473.22
9/30/2017 12:00:00 AM 21775.15 24334.21
10/31/2017 12:00:00 AM 21841.04 24354.89
11/30/2017 12:00:00 AM 21923.39 24326.4
12/31/2017 12:00:00 AM 22012.1 24453.14
1/31/2018 12:00:00 AM 22315.25 24171.44
2/28/2018 12:00:00 AM 22298.41 23910.14
3/31/2018 12:00:00 AM 22307.76 24066.28
4/30/2018 12:00:00 AM 22442.75 23861.95
5/31/2018 12:00:00 AM 22510.25 24033.76
6/30/2018 12:00:00 AM 22522.77 23987.37
7/31/2018 12:00:00 AM 22658.14 24005.85
8/31/2018 12:00:00 AM 22776.59 24162.12
9/30/2018 12:00:00 AM 22820.88 24001.45
10/31/2018 12:00:00 AM 22718.85 23793.11
11/30/2018 12:00:00 AM 22786.87 23905.89
12/31/2018 12:00:00 AM 22408.62 24351.02
1/31/2019 12:00:00 AM 22850.78 24637.63
2/28/2019 12:00:00 AM 22974.58 24622.85
3/31/2019 12:00:00 AM 23058.23 25145.35
4/30/2019 12:00:00 AM 23217.86 25158.42
5/31/2019 12:00:00 AM 23129.18 25652.53
6/30/2019 12:00:00 AM 23399.39 26031.93
7/31/2019 12:00:00 AM 23506.15 26071.24
8/31/2019 12:00:00 AM 23611.93 26922.21
9/30/2019 12:00:00 AM 23642.63 26718.14
10/31/2019 12:00:00 AM 23767.94 26793.21
11/30/2019 12:00:00 AM 23803.59 26768.83
12/31/2019 12:00:00 AM 23915.47 26715.83
1/31/2020 12:00:00 AM 23970.48 27353
2/29/2020 12:00:00 AM 23646.88 27924.68
3/31/2020 12:00:00 AM 22998.96 27615.55
4/30/2020 12:00:00 AM 23739.53 28230.28
5/31/2020 12:00:00 AM 23900.96 28392.88
6/30/2020 12:00:00 AM 24168.65 28641.04
7/31/2020 12:00:00 AM 24458.67 29216.15
8/31/2020 12:00:00 AM 24693.47 28878.12
9/30/2020 12:00:00 AM 24710.76 28864.26
10/31/2020 12:00:00 AM 24602.03 28690.49
11/30/2020 12:00:00 AM 25054.71 29074.37
12/31/2020 12:00:00 AM 25195.02 29100.54
1/31/2021 12:00:00 AM 25159.75 28796.73
2/28/2021 12:00:00 AM 25378.64 28291.35
3/31/2021 12:00:00 AM 25541.06 27854.25
4/30/2021 12:00:00 AM 25722.4 28099.64
5/31/2021 12:00:00 AM 25830.43 28242.95
6/30/2021 12:00:00 AM 25879.51 28528.77
7/31/2021 12:00:00 AM 25951.97 28905.35
8/31/2021 12:00:00 AM 26097.3 28846.96
9/30/2021 12:00:00 AM 26032.06 28539.16

Annualized Total Returns

As of 9/30/21 As of 10/31/21
TimeFrame Calamos Market Neutral Income Fund (NAV) Bloomberg US Govt/Credit Bond Index Bloomberg Short Treasury 1-3 Month Index
1 Year 5.35 -1.13 0.05
3 Year 4.49 5.94 1.12
5 Year 4.6 3.24 1.1
10 Year 4.67 3.24 0.59
Since Inception 4.57 5.01 1.52
TimeFrame Calamos Market Neutral Income Fund (NAV) Bloomberg US Govt/Credit Bond Index Bloomberg Short Treasury 1-3 Month Index
1 Year 6.92 -0.48 0.05
3 Year 5.01 6.27 1.06
5 Year 4.82 3.45 1.1
10 Year 4.4 3.23 0.59
Since Inception 4.61 5.9 2.58

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 2.75%. Had it been included, the Fund's return would have been lower.

The Bloomberg US Government/Credit Bond Index includes Treasuries and agencies that represent the government portion of the index, and includes publicly issued US corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements to represent credit interests.

The Bloomberg Short Treasury 1-3 Month Index is generally considered representative of the performance of short-term money market investments and compares performance to public obligations of the US Treasury with maturities of 1-3 months.

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 3/1/2021 are as follows: A Shares 1.23%, C Shares 1.98%, I Shares 0.98% and R6 Shares 0.90%.

10k Performance results are before taxes on fund distributions and assume reinvestment of dividends and capital gains. Index data shown is from 5/31/00, since comparative index data is available only for full monthly periods. Source: Calamos Investments

Portfolio

Strategy Allocation

As of 9/30/21
Strategy %
Hedged Equity 48.9
Convertible Arbitrage 45.8
SPAC Arbitrage 4.5
Merger Arbitrage 0.9

Fund Facts

As of 9/30/21
Name Fund
Number of Holdings 1,096
Portfolio Turnover (12 months) 61.1%
Net Assets $15.8 B

Bond Duration

As of 9/30/21
Name Duration
Weighted Avg. Duration 1.3 years
Weighted Avg. Maturity 3.5 years

Credit Quality of Bonds

As of 9/30/21
Class %
AAA 0.0%
AA 0.1%
A 0.9%
BBB 4.9%
BB 4.8%
B 0.9%
CCC and below 0.0%
Unrated Securities 88.5%

Maturity Schedule

As of 9/30/21
Range %
< 1 Year 34.4%
1 to 5 Years 29.4%
5 to 10 Years 5.0%
10 to 20 Years 0.0%
20 to 30 Years 0.0%
> 30 Years 0.0%
Equities and Other 31.2%

Distributions

Total Capital Gains

Schedule: ANNUAL
Year Capital Gains
2008 0.2923
2009 0.0000
2010 0.0000
2011 0.0000
2012 0.0000
2013 0.2575
2014 0.1369
2015 0.1952
2016 0.1997
2017 0.2250
2018 0.4107
2019 0.0000
2020 0.0000

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

Estimated 2021 Capital Gains
Estimated capital gains distributions for Calamos mutual funds were announced November 1, 2021. To view the report, click here.

2020 Capital Gains
Capital gains for Calamos Mutual Funds were declared on December 22, 2020. To view the report, click here.

Distributions

Schedule: QUARTERLY
Most Recent Distributions
Frequency Income Reinvest
Q3 2021 $0.0139 14.33000
Q2 2021 $0.0368 13.86000
Q1 2021 $0.0000 13.86000
Q4 2020 $0.0381 0.00000
Q2 2020 $0.0379 13.34000
Q1 2020 $0.0488 12.48000
Q4 2019 $0.0682 13.28000
Q3 2019 $0.0571 13.25000
Q2 2019 $0.0422 13.10000
Q1 2019 $0.0372 12.98000
Q4 2018 $0.0953 12.67000
Q3 2018 $0.0660 13.38000
Q2 2018 $0.0375 13.34000
Q1 2018 $0.0256 13.23000
Q4 2017 $0.0682 13.04000
Q3 2017 $0.0380 13.19000
Q2 2017 $0.0333 13.11000
Q1 2017 $0.0439 13.04000
Q4 2016 $0.0526 12.89000
Q3 2016 $0.0452 12.93000
Q2 2016 $0.0452 12.72000
Q1 2016 $0.0390 12.59000
Q4 2015 $0.0600 12.60000
Q3 2015 $0.0361 12.78000
Q2 2015 $0.0280 13.04000
Q1 2015 $0.0468 12.87000
Q4 2014 $0.0429 12.80000
Q3 2014 $0.0337 13.02000
Q2 2014 $0.0212 12.97000
Q1 2014 $0.0575 12.85000
Q4 2013 $0.0426 12.76000
Q3 2013 $0.0398 12.87000
Q2 2013 $0.0645 12.58000
Q1 2013 $0.0505 12.69000
Q4 2012 $0.0582 12.55000
Q3 2012 $0.0479 12.68000
Q2 2012 $0.0436 12.23000
Q1 2012 $0.0330 12.35000
Q4 2011 $0.0602 11.96000
Q3 2011 $0.0555 11.58000
Q2 2011 $0.0547 11.87000
Q1 2011 $0.0474 11.85000
Q4 2010 $0.0733 11.80000
Q3 2010 $0.0555 11.48000
Q2 2010 $0.0333 11.33000
Q1 2010 $0.0200 11.59000
Q4 2009 $0.0469 11.35000
Q3 2009 $0.0521 11.15000
Q2 2009 $0.0561 10.64000
Q1 2009 $0.0826 9.81000
Q4 2008 $0.3563 10.11000
Q3 2008 $0.0974 11.88000
Q2 2008 $0.0977 12.45000
Q1 2008 $0.0979 12.45000

Fees & Expenses

Annual Expenses

Name A Shares C Shares I Shares R6 Shares
Gross Expense Ratio 1.23% 1.98% 0.98% 0.90%

Investment Information

Name A Shares C Shares I Shares R6 Shares
Minimum initial investment $2500 $2500 $1 million $0
Minimum subsequent investments $50 $50 $0 $0
IRA initial investments $500 $500 N/A N/A

Fund Information

Name A Shares C Shares I Shares R6 Shares
Inception Date 9/04/90 2/16/00 5/10/00 6/23/20
Ticker Symbol CVSIX CVSCX CMNIX CVSOX
CUSIP number 128119203 128119849 128119880 128120342

Sales & Distribution

Name A Shares C Shares I Shares R6 Shares
Sales Load Front-End Level-Load N/A N/A
Maximum Sales Charge 2.75 1.00 N/A N/A
US Bank Fund Number 605 619 629 5575
Dividends QUARTERLY QUARTERLY QUARTERLY QUARTERLY
Capital Gains ANNUAL ANNUAL ANNUAL ANNUAL

Literature

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About the Fund

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Calamos Market Neutral Income Fund Quarterly Commentary

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

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Calamos Market Neutral Income Fund Fact Sheet

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

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Maximizing the Opportunity in Convertible Securities

This guide provides a brief overview of Calamos’ history in the asset class, how convertibles can be used in strategic asset allocation, and the attractive conditions we see in the market today. Included is an overview of the Calamos funds that use convertible securities in varied ways to achieve compelling short and long-term performance.

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A Hypothetical Illustration Using an Alternative Approach for Retirement Assets

Our hypothetical illustration using Calamos Market Neutral Income Fund (CMNIX) offers a potential alternative solution for investors saving for retirement with traditional fixed income securities.

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The Opportunity of Convertible Securities

Like stocks, convertibles typically offer upside appreciation in rising equity markets. Like bonds, convertibles provide income and potential downside protection in declining markets.

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Convertible Securities: Structures, Valuation, Market Environment, and Asset Allocation

A comprehensive overview of convertible securities, including history, structures, valuation, market environment, and roles within asset allocation.

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Embrace Volatility to Find Potential Stability

The Market Neutral income Fund (CMNIX) has had lower sensitivity to drawdowns during heightened volatility relative to the S&P 500 Index. See why the fund can serve as a ballast for your clients’ portfolios.

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Don’t Let Volatility Rob Investors of Their Greatest Advantage: Time

Illustration of how the Calamos Market Neutral Income Fund (CMNIX) has kept drawdowns to a minimum and recovered sooner, allowing the portfolio to get back to growing.

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Whether You Think Rates Will Rise 50 bps or 250 bps, Consider CMNIX

The Calamos Market Neutral Income Fund is an option whether you expect rates to ultimately rise 50 bps or 250 bps.

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Demonstrated Resilience When Interest Rates Rise

In periods where Treasury Yields rose more than 100 basis points, the Calamos Market Neutral Income fund outperformed the index in every period.

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Calamos Strategies for Different Market Periods

Illustration of equity alternatives performance in down markets and fixed income alternative performance in rising interest rate environments.

Prospectus and Reports

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Calamos Market Neutral Fund Prospectus

This summary contains important information about the Class A, C, and I Market Neutral Income 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.