The Calamos Dynamic Intermediate Tax-Efficient Strategy invests primarily in a diversified portfolio of US investment-grade, intermediate-maturity, corporate, municipal, mortgage and asset-backed securities. The strategy's high active share and controlled turnover approach is designed to enhance our ability to generate after-tax alpha over entire credit cycles, in all interest-rate and volatility environments.
|Strategy Assets*:||$717.7 M|
|Benchmark:||Bloomberg US Aggregate Intermediate Index|
*Strategy Assets reflect all assets that are currently being managed (collectively) under the strategy, which may contain multiple performance composites.
|Sector||% of Assets|
|Name||% of Assets|
|Investment Grade Corporate Debt||25.7|
|High Yield Corporate Debt||4.2|
|U.S. Municipal Debt||57.7|
|< 1 Year||9.6%|
|1 to 3 Years||24.1%|
|3 to 5 Years||23.6%|
|5 to 7 Years||9.2%|
|7 to 10 Years||22.1%|
|10 to 20 Years||10.8%|
|> 20 Years||0.0%|
|Equities and Other||0.6%|
|CCC and below||0.0%|
|Gtp Acquisition Partners I Llc||3.48%||6/16/2025||1.3|
|New York City Transitional Finance Authority Future Tax Secured Revenue||2.75%||2/1/2024||1.1|
|Texas Transportation Commission State Highway Fund||5.03%||4/1/2026||0.9|
|Hertz Vehicle Financing III, LP Series 2021-2A, Class A||1.68%||12/27/2027||0.9|
|Franklin-Mckinley School District||5.49%||2/1/2026||0.9|
|Illinois Housing Development Authority||3.10%||2/1/2024||0.9|
|Galaxy Pipeline Assets Bidco Ltd||2.16%||3/31/2034||0.9|
|RenaissanceRe Finance, Inc.||3.45%||7/1/2027||0.9|
|Name||1-Year||3-Year||5-Year||Since Inception (7/17)|
|Dynamic Intermediate Tax-Efficient (Gross)||-2.17%||-0.18%||1.86%||1.61%|
|Dynamic Intermediate Tax-Efficient (Net)||-2.38%||-0.39%||1.64%||1.39%|
|Bloomberg US Aggregate Intermediate Index||-2.79%||-1.96%||0.99%||0.79%|
|Name||Qtr ending Mar 23||YTD 2023||2022||2021||2020||2019||2018||7/1/17 - 12/31/17|
|Dynamic Intermediate Tax-Efficient (Gross)||1.87%||1.87%||-7.76%||0.24%||6.24%||7.06%||1.57%||0.72%|
|Dynamic Intermediate Tax-Efficient (Net)||1.82%||1.82%||-7.96%||0.03%||6.02%||6.82%||1.34%||0.61%|
|Bloomberg US Aggregate Intermediate Index||2.39%||2.39%||-9.51%||-1.29%||5.60%||6.67%||0.92%||0.65%|
Past performance does not guarantee or indicate future results. Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown.
Returns or Risk/Reward statistics presented reflect the Calamos Intermediate Bond Tax-Efficient Insurance Composite, which is an actively managed composite that invests in a broad range of US dollar-denominated intermediate maturity, investment grade fixed-income securities, including corporate bonds, municipal bonds, Treasuries, agencies, mortgage-backed securities and asset-backed securities. The Composite was created July 1, 2017, calculated with an inception date of July 1, 2017.
Unmanaged index returns, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.
The Bloomberg US Aggregate Intermediate Index is an unmanaged index that measures the performance of the US investment-grade bond market while removing the longer-maturity portions of the broad market benchmarks.
Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Calamos Advisors LLC.
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.
|Name||Calamos Intermediate Bond Tax-Efficient Insurance Composite||Bloomberg US Aggregate Intermediate Index|
|Annualized Standard Deviation||3.27%||3.88%|
|Separately Managed Accounts||$1 million||Available to new investors|
The Dynamic Intermediate Tax-Efficient Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.