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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$15.50

$626 M

0.67%

$0.10

1.92%

Vitals

YTD Return

5.4%

1 yr return

18.3%

3 Yr Avg Return

5.0%

5 Yr Avg Return

6.8%

Net Assets

$626 M

Holdings in Top 10

31.7%

52 WEEK LOW AND HIGH

$15.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.92%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 39.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$15.50

$626 M

0.67%

$0.10

1.92%

CCHEX - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 5.0%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.30%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Calamos Hedged Equity Fund
  • Fund Family Name
    Calamos
  • Inception Date
    Dec 31, 2014
  • Shares Outstanding
    576206
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eli Pars

Fund Description

The Fund seeks to achieve total return with lower volatility than equity markets. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and securities with economic characteristics similar to stock or the equity markets. The Fund invests in a broadly diversified portfolio of equity securities while also writing (selling) index call and put options and/or entering into other options strategies on equity securities and/or broad based indices. The Fund may write call options (i) on a portion of the equity securities in the Fund's portfolio and (ii) on broad- based securities indexes (such as the S&P 500 or MSCI EAFE) or ETFs (exchange traded funds).

In addition, to seek to offset some of the risk of a potential decline in value of certain long positions, the Fund may also purchase put options on individual securities, broad-based securities indexes (such as the S&P 500), or ETFs. The Fund may also engage in active and frequent trading of portfolio securities.

Equity securities purchased by the Fund may include U.S. exchange-listed common stocks, options on equities, and American Depositary Receipts (ADRs). The Fund may also invest in fixed-income securities. The Fund may also invest in ETFs.

The Fund may use derivatives for hedging (attempting to reduce risk by offsetting one investment position with another) or non-hedging purposes. In particular, the Fund may hedge some or all of the currency exposure of foreign securities by entering into forward foreign currency contracts, futures or other derivatives.

The Fund's investment adviser seeks to lower the risks of investing in stocks by using a "top-down approach" of diversification by company, industry, sector, country and currency and focusing on macro-level investment themes. The Fund intends that its option-based risk management strategy will reduce the volatility inherent in investments in equity securities over time.

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CCHEX - Performance

Return Ranking - Trailing

Period CCHEX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -2.8% 240.8% 44.66%
1 Yr 18.3% -4.3% 140.6% 65.22%
3 Yr 5.0%* -8.3% 18.3% 58.33%
5 Yr 6.8%* -5.0% 17.3% 51.69%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period CCHEX Return Category Return Low Category Return High Rank in Category (%)
2023 14.5% -34.1% 904.0% 27.03%
2022 -12.2% -28.6% 438.4% 35.84%
2021 12.3% -93.5% 8.2% 13.10%
2020 8.3% -38.9% 19.8% 48.84%
2019 13.0% -10.9% 12.8% 28.16%

Total Return Ranking - Trailing

Period CCHEX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -2.7% 244.0% 45.85%
1 Yr 18.3% -4.3% 140.6% 65.65%
3 Yr 5.0%* -8.3% 18.3% 53.21%
5 Yr 6.8%* -5.4% 17.3% 49.15%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period CCHEX Return Category Return Low Category Return High Rank in Category (%)
2023 14.7% -34.1% 904.0% 27.03%
2022 -12.0% -5.9% 438.4% 36.42%
2021 12.3% -81.2% 8.2% 15.17%
2020 8.6% -29.0% 19.8% 62.79%
2019 13.3% -10.9% 12.8% 50.49%

NAV & Total Return History


CCHEX - Holdings

Concentration Analysis

CCHEX Category Low Category High CCHEX % Rank
Net Assets 626 M 25 17.4 B 17.23%
Number of Holdings 269 2 508 10.69%
Net Assets in Top 10 178 M -6.66 M 5.12 B 35.11%
Weighting of Top 10 31.71% 11.3% 100.0% 55.33%

Top 10 Holdings

  1. APPLE INC COMMON STOCK USD.00001 6.88%
  2. MICROSOFT CORP COMMON STOCK USD.00000625 6.85%
  3. AMAZON.COM INC COMMON STOCK USD.01 3.24%
  4. S+P 500 INDEX DEC24 4350 PUT 2.82%
  5. NVIDIA CORP COMMON STOCK USD.001 2.74%
  6. ALPHABET INC CL C COMMON STOCK USD.001 2.05%
  7. META PLATFORMS INC CLASS A COMMON STOCK USD.000006 1.89%
  8. ALPHABET INC CL A COMMON STOCK USD.001 1.81%
  9. UNITEDHEALTH GROUP INC COMMON STOCK USD.01 1.74%
  10. S+P 500 INDEX DEC24 4400 PUT 1.70%

Asset Allocation

Weighting Return Low Return High CCHEX % Rank
Stocks
96.00% -3.92% 100.76% 51.53%
Other
1.75% 0.00% 45.92% 96.95%
Convertible Bonds
1.33% 0.00% 20.91% 5.34%
Cash
1.18% -0.76% 100.29% 70.99%
Bonds
1.07% 0.00% 97.96% 97.71%
Preferred Stocks
0.00% 0.00% 3.08% 96.95%

Stock Sector Breakdown

Weighting Return Low Return High CCHEX % Rank
Technology
24.63% 0.00% 44.43% 32.77%
Healthcare
14.61% 0.00% 25.91% 74.37%
Financial Services
13.62% 0.00% 29.60% 24.37%
Consumer Cyclical
10.14% 0.00% 19.02% 74.37%
Industrials
8.93% 1.41% 43.91% 58.40%
Communication Services
8.63% 0.00% 21.22% 18.49%
Consumer Defense
7.48% 0.00% 22.87% 70.17%
Energy
4.27% 0.00% 69.54% 23.95%
Utilities
2.76% 0.00% 13.35% 77.73%
Real Estate
2.63% 0.00% 9.74% 78.15%
Basic Materials
2.30% 0.00% 60.58% 79.41%

Stock Geographic Breakdown

Weighting Return Low Return High CCHEX % Rank
US
96.00% -3.89% 100.00% 40.46%
Non US
0.00% -2.17% 99.33% 72.14%

Bond Sector Breakdown

Weighting Return Low Return High CCHEX % Rank
Corporate
39.12% 0.00% 91.57% 5.34%
Derivative
1.75% 0.00% 0.13% 96.95%
Cash & Equivalents
1.10% 0.09% 100.00% 89.69%
Securitized
0.00% 0.00% 22.63% 96.95%
Municipal
0.00% 0.00% 97.57% 96.95%
Government
0.00% 0.00% 99.91% 97.33%

Bond Geographic Breakdown

Weighting Return Low Return High CCHEX % Rank
US
1.07% 0.00% 97.96% 98.09%
Non US
0.00% 0.00% 16.94% 97.33%

CCHEX - Expenses

Operational Fees

CCHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.92% 0.20% 6.78% 21.40%
Management Fee 0.74% 0.20% 1.75% 29.85%
12b-1 Fee 1.00% 0.00% 1.00% 100.00%
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

CCHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load 1.00% 1.00% 1.00% 100.00%

Trading Fees

CCHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CCHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.00% 0.00% 456.80% 65.18%

CCHEX - Distributions

Dividend Yield Analysis

CCHEX Category Low Category High CCHEX % Rank
Dividend Yield 0.67% 0.00% 3.76% 98.51%

Dividend Distribution Analysis

CCHEX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

CCHEX Category Low Category High CCHEX % Rank
Net Income Ratio -0.30% -2.54% 14.24% 57.38%

Capital Gain Distribution Analysis

CCHEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

CCHEX - Fund Manager Analysis

Managers

Eli Pars


Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

As a Co-Chief Investment Officer, Eli Pars is responsible for oversight of investment team resources, investment processes, performance and risk. As Head of Alternative Strategies and Co-Head of Convertible Strategies, he manages investment team members and has portfolio management responsibilities for those investment verticals. He is also a member of the Calamos Investment Committee, which is charged with providing a top-down framework, maintaining oversight of risk and performance metrics, and evaluating investment process. Eli has 34 years of industry experience, including 15 at Calamos. Prior to returning to Calamos in 2013, he was a Portfolio Manager at Chicago Fundamental Investment Partners, where he co-managed a convertible arbitrage portfolio. Previously, he held senior roles at Mulligan Partners LLC, Ritchie Capital and SAM Investments/The Hampshire Company. Earlier in his career, Eli was a Vice President and Assistant Portfolio Manager at Calamos. He received a BA in English Literature from the University of Illinois and an MBA with a specialization in Finance from the University of Chicago Graduate School of Business.

Jason Hill


Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

Jason Hill is a Vice President and Co-Portfolio Manager within the Alternatives Team. He has research and analysis responsibilities, primarily focusing on market neutral strategies and option analysis. Between August 2013 and June 2014, he was a Senior Strategy Analyst. Mr. Hill began his career at Calamos as a Portfolio Administrator in March 2004. He has progressed through a series of promotions and additional responsibilities in the Investment Department, ultimately being promoted to his current role. While at Calamos, Mr. Hill has focused on select areas, including the market neutral income strategy. Prior to joining Calamos, Mr. Hill held positions as both a Research and Risk Analyst at HFR Management, LLC. BA in Finance, North Central College. MS in Finance, DePaul University.

John Calamos


Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

John Calamos is Chairman and Global CIO of Calamos Investments, the firm he founded in 1977. With origins as an institutional convertible bond manager, Calamos Investments has grown into a global asset management firm with institutional and individual clients worldwide. Headquartered in the Chicago metropolitan area, the firm also has offices in New York, San Francisco, Milwaukee and the Miami area. Mr. Calamos established research and investment processes centered around a team-based approach designed to deliver superior risk-adjusted performance over full market cycles through a range of U.S. and global investment solutions including equity, fixed income, convertible and alternative strategies. As a pioneer in convertible securities, Calamos launched one of the first convertible funds in 1985 as a way to manage risk for clients in volatile times. He also established one of the first liquid alternative funds in 1990, reflecting a focus on innovation that continues to this day. Mr. Calamos has built a reputation for using investment techniques to control risk, preserve capital and build wealth for clients over the long term. With more than 50 years of industry experience, he is often quoted as an authority on risk-managed investment strategies, markets, and the economy. He is a frequent speaker at investment conferences around the world and appears regularly on CNBC, Bloomberg TV and Fox Business Channel. He has authored two books, Investing in Convertible Securities: Your Complete Guide to the Risks and Rewards and Convertible Securities: The Latest Instruments, Portfolio Strategies, and Valuation Analysis.   Prior to entering the investment industry, Mr. Calamos served in the United States Air Force. During the Vietnam War, he served as a Forward Air Controller, with responsibilities for guiding accurate air strikes and preventing injuries to friendly troops. His squadron was the first to fly the Cessna O-2, an aircraft in which he recorded over 400 missions in combat. Captain Calamos was awarded the Distinguished Flying Cross for “extraordinary achievement while participating in aerial flight under heavy hostile attack.” His Air Force career included five years of active duty flying B-52 bombers and twelve years in the Reserves flying A-37 jet fighters. He retired as a Major.   The son of Greek immigrants, Mr. Calamos is an active philanthropist supporting educational institutions and Hellenic organizations. He serves as Chairman of the Board of Directors for the National Hellenic Museum in Chicago. He is an investment committee member of the Faith Endowment, and a supporting member of the National Hellenic Society, Leadership 100 and The Hellenic Initiative. He received a B.A. in Economics and an M.B.A. in Finance from Illinois Tech, where he established Endowed Chairs in Philosophy and Business and is also a member of the Board of Trustees. He received an Honorary Doctorate in Humanities from Hellenic College Holy Cross.

David O’Donohue


Start Date

Tenure

Tenure Rank

Sep 01, 2015

6.75

6.8%

David O’Donohue joined CALAMOS ADVISORS in August 2014 and has been a Co-Portfolio Manager since September 2015. Between March 2013 and August 2014, he was a Trader at Forty4 Asset Management LLC/Hard8 Futures LLC. Prior thereto, Mr. O’Donohue was a Portfolio Manager at Chicago Fundamental Investment Partners LLC from February 2009 to November 2012.

Jimmy Young


Start Date

Tenure

Tenure Rank

Feb 28, 2019

3.25

3.3%

Jimmy Young joined Calamos Advisors in June 2003 and has been a Co-Portfolio Manager since February 2019. Between February 2018 and February 2019, he was an Assistant Portfolio Manager. Prior thereto, he was a senior strategy analyst from September 2015 to February 2018. Between July 2013 and August 2015, he was a strategy analyst.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67