CMNIX
$14.55
$0.01 (0.07%)
As of 9/22/23
6.74%
As of 9/22/23
$14.4 Billion
As of 6/30/23
5/10/00
The fund combines two complementary strategies with different responses to volatility: arbitrage seeks alpha and uncorrelated returns, while hedged equity provides income from options writing and upside participation.
The fund may provide potential diversification, particularly in a rising interest rate environment.
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.
Create real time reports on performance, risk analysis, peer group analysis, style attribution and more on the Investment Professional site.
CompareDate | Calamos Market Neutral Income Fund (NAV) | Bloomberg US Govt/Credit Bond Index | Bloomberg Short Treasury 1-3 Month Index |
---|---|---|---|
YTD 2023 | 5.98 | 2.21 | 2.34 |
2022 | -4.26 | -13.58 | 1.52 |
2021 | 5.02 | -1.75 | 0.04 |
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 |
TimeFrame | Calamos Market Neutral Income Fund (NAV) | Bloomberg US Govt/Credit Bond Index | Bloomberg Short Treasury 1-3 Month Index |
---|---|---|---|
1 Year | 9.08 | -0.7 | 3.73 |
3 Year | 3.57 | -4.11 | 1.31 |
5 Year | 3.58 | 1.03 | 1.54 |
10 Year | 3.8 | 1.66 | 0.96 |
Since Inception (05/10/00) | 4.36 | 4.08 | 1.58 |
TimeFrame | Calamos Market Neutral Income Fund (NAV) | Bloomberg US Govt/Credit Bond Index | Bloomberg Short Treasury 1-3 Month Index |
---|---|---|---|
1 Year | 7.59 | -0.87 | 4.38 |
3 Year | 3.11 | -4.58 | 1.6 |
5 Year | 3.51 | 0.75 | 1.66 |
10 Year | 3.82 | 1.63 | 1.05 |
Since Inception (05/10/00) | 4.36 | 4.02 | 1.6 |
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.
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.
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 3/1/2023 are as follows: A Shares 1.18%, C Shares 1.93%, I Shares 0.93% and R6 Shares 0.88%.
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
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.
Strategy | % |
---|---|
Hedged Equity | 47.7 |
Convertible Arbitrage | 45.7 |
Merger Arbitrage | 3.5 |
SPAC Arbitrage | 3.0 |
Name | Fund |
---|---|
Net Assets | $14.4 B |
Number of Holdings | 1,122 |
Portfolio Turnover (12 months) | 32.6% |
Name | Duration |
---|---|
Weighted Avg. Duration | 1.5 years |
Weighted Avg. Maturity | 2.7 years |
Class | % |
---|---|
AAA | 0.0% |
AA | 0.4% |
A | 2.8% |
BBB | 14.0% |
BB | 1.6% |
B | 0.4% |
CCC and below | 0.0% |
Unrated Securities | 80.9% |
Range | % |
---|---|
< 1 Year | 27.7% |
1 to 5 Years | 33.3% |
5 to 10 Years | 2.2% |
10 to 20 Years | 0.0% |
20 to 30 Years | 0.0% |
> 30 Years | 0.0% |
Equities and Other | 36.8% |
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 |
2021 | 0.0000 |
2022 | 0.0000 |
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.
Frequency | Income | Reinvest |
---|---|---|
Q2 2023 | $0.0416 | 14.45000 |
Q1 2023 | $0.0202 | 13.98000 |
Q4 2022 | $0.1000 | 13.77000 |
Q3 2022 | $0.0251 | 13.75000 |
Q2 2022 | $0.0123 | 13.54000 |
Q1 2022 | $0.0033 | 14.11000 |
Q4 2021 | $0.0160 | 14.42000 |
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 |
Name | A Shares | C Shares | I Shares | R6 Shares |
---|---|---|---|---|
Gross Expense Ratio | 1.18% | 1.93% | 0.93% | 0.88% |
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 |
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 |
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 |
August 18, 2023
Here’s why we call Calamos Market Neutral Income Fund (CMNIX) both consistent and resilient.
July 24, 2023
We have experienced historic monetary policy shifts and their impact on markets over recent months. While changing interest rates can create challenges for traditional bond strategies, Calamos Market Neutral Income Fund (CMNIX) is designed to address these challenges, allowing investors to enhance their fixed income allocations.
March 1, 2023
As one of the oldest liquid alternative funds, CMNIX has demonstrated its merits through a variety of market and interest rate environments. In every decade since the fund’s inception, diversifying a traditional bond portfolio with a 25% allocation to CMNIX could have provided meaningful risk-adjusted outperformance.
February 16, 2023
On a February 14 webcast, Co-CIO Eli Pars shared his thoughts on a convergence of factors that bode well for Calamos Market Neutral Income Fund (CMNIX) in 2023, including upbeat convertible arbitrage expectations, a bullish convertible issuance outlook, and the fund’s ongoing ability to deliver low-duration diversification.
Hear Jason Hill, SVP and Co-Portfolio Manager discuss why we think merger arbitrage is a great opportunity and what sets our merger arbitrage strategy apart.
Hear David O’Donohue, SVP and Co-Portfolio Manager discuss why he believes the impact of rising interest rates on option prices has made participation rates for hedged equity strategies appealing.
A quarterly update of the Calamos Market Neutral Income Fund’s performance, positioning, related market commentary and outlook.
The Market Neutral Income Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.
The Calamos Market Neutral Income Fund is a time-tested alternative strategy that draws from a robust alternatives platform and serves as a diversification overachiever.
We have experienced historic monetary policy shifts and their impact on markets over recent months. While traditional fixed income has fallen short, Calamos Market Neutral Income Fund (CMNIX) has effectively navigated through each policy regime and outperformed bonds.
Calamos Market Neutral Income Fund has navigated ebbs and flows in interest rates over a 30+ year history and outperformed the index along the way.
We believe CMNIX can make a compelling contribution to an asset allocation, supported by its historically attractive correlative benefits and strong return profile.
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.
Like stocks, convertibles typically offer upside appreciation in rising equity markets. Like bonds, convertibles provide income and potential downside protection in declining markets.
A comprehensive overview of convertible securities, including history, structures, valuation, market environment, and roles within asset allocation.
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.
The Calamos Market Neutral Income Fund is an option whether you expect rates to ultimately rise 50 bps or 250 bps.
In periods where Treasury Yields rose more than 100 basis points, the Calamos Market Neutral Income fund outperformed the index in every period.
Illustration of equity alternatives performance in down markets and fixed income alternative performance in rising interest rate environments.
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.
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.
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