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Name

As of 09/29/2023

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

Calamos Global Convertible Fund

CAGCX | Fund

$10.43

$133 M

0.56%

$0.06

1.28%

Vitals

YTD Return

7.5%

1 yr return

10.7%

3 Yr Avg Return

5.0%

5 Yr Avg Return

8.5%

Net Assets

$133 M

Holdings in Top 10

20.5%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.28%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 35.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 09/29/2023

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

Calamos Global Convertible Fund

CAGCX | Fund

$10.43

$133 M

0.56%

$0.06

1.28%

CAGCX - Profile

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return 5.0%
  • 5 Yr Annualized Total Return 8.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -2.96%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Calamos Global Convertible Fund
  • Fund Family Name
    Calamos Family of Funds
  • Inception Date
    Dec 31, 2014
  • Shares Outstanding
    1260028
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Hillenbrand

Fund Description

The Fund invests mainly in a globally-diversified portfolio of convertible securities (including synthetic convertible instruments) issued by both U.S. and foreign companies without regard to market capitalization. Convertible securities include, but are not limited to, any corporate debt security, debentures, notes or preferred stock that may be converted into equity securities of companies around the world, including in emerging markets. A synthetic convertible instrument is a financial instrument (or two or more securities held in tandem) that is designed to simulate the economic characteristics of a convertible security through the combined features of a debt instrument and a security providing an option on an equity security. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in convertible securities, including synthetic convertible securities. The Fund may establish a synthetic convertible instrument by combining fixed-income securities (which may be either convertible or non-convertible) with the right to acquire equity securities. In establishing a synthetic instrument, the Fund may combine a basket of fixed-income securities with a basket of warrants or options that together produce economic characteristics similar to a convertible security. Within each basket of fixed-income securities and warrants or options, different companies may issue the fixed-income and convertible components, which may be purchased separately and at different times.

The Fund anticipates that, under normal circumstances, the investment adviser's process will result in the Fund investing in a globally diversified manner, with at least 20% of its assets in securities of foreign issuers, including issuers in emerging markets. Securities of foreign issuers are securities issues by issuers that are organized under the laws of a foreign country or that have a substantial portion of their operations or assets in a foreign country or countries, or that derive a substantial portion of their revenue or profits from businesses, investments or sales outside of the United States. The Fund may also invest in foreign securities that are represented in the United States securities markets by American Depositary Receipts ("ADRs") or similar depository arrangements. The Fund's foreign debt investments can be denominated in U.S. dollars or in foreign currencies. Debt securities issued by a foreign government may not be supported by the "full faith and credit" of that government.

The Fund may invest up to 20% of its net assets in equity securities or securities with economic characteristics similar to stock or the equity markets. The Fund may also invest up to 20% of its net assets in high yield fixed-income securities, often referred to as "junk bonds"; however, such limitation shall not apply to convertible securities, including synthetic convertible securities. Junk bonds are securities rated BB or lower by S&P, or Ba or lower by Moody's or securities that are not rated but are considered by the Fund's investment adviser to be of similar quality. The Fund may not acquire debt securities that are rated lower than C. In addition, the Fund may engage in active and frequent trading of portfolio securities.

The Fund may use derivative instruments such as options, futures and forward contracts. The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis.

When buying and selling convertible securities, the Fund typically applies a four-step approach, without regard to market capitalization:

1. Evaluating the default risk of the convertible security using traditional credit analysis;

2. Analyzing the convertible security's underlying common stock to determine its capital appreciation potential;

3. Assessing the convertible security's risk/return potential; and

4. Evaluating the convertible security's impact on the Fund's overall composition and diversification strategy.

As well, the Fund's investment adviser seeks to lower the risks of investing in stocks by using a "top-down approach" of diversification by country, company, industry, sector and currency and by focusing on macro-level investment themes.

Consistent with the Fund's investment objective and principal investment strategies the Fund's investment adviser views these strategies as low volatility equity strategies and attempts to achieve equity-like returns with lower than equity market risk by managing a portfolio that it believes will exhibit less volatility over full market cycles.

Read More

CAGCX - Performance

Return Ranking - Trailing

Period CAGCX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -4.9% 8.4% 3.57%
1 Yr 10.7% -15.9% 3.1% 13.10%
3 Yr 5.0%* -13.4% 0.2% 68.29%
5 Yr 8.5%* -5.6% 5.3% 76.62%
10 Yr N/A* -8.4% 4.5% N/A

* Annualized

Return Ranking - Calendar

Period CAGCX Return Category Return Low Category Return High Rank in Category (%)
2022 -22.2% -37.8% -12.8% 59.04%
2021 -13.2% -18.9% 2.4% 57.83%
2020 27.8% 5.9% 54.0% 67.09%
2019 12.5% 9.9% 24.4% 92.41%
2018 -8.0% -15.3% -2.5% 36.84%

Total Return Ranking - Trailing

Period CAGCX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -4.4% 8.6% 3.57%
1 Yr 10.7% -15.5% 3.3% 13.10%
3 Yr 5.0%* -13.4% 6.1% 68.29%
5 Yr 8.5%* -3.7% 11.0% 76.62%
10 Yr N/A* -3.7% 10.2% N/A

* Annualized

Total Return Ranking - Calendar

Period CAGCX Return Category Return Low Category Return High Rank in Category (%)
2022 -22.2% -37.8% -10.6% 78.31%
2021 12.3% -12.2% 11.3% 63.86%
2020 48.2% 8.7% 64.4% 64.56%
2019 14.9% 12.2% 28.7% 93.67%
2018 -3.0% -15.1% 4.6% 64.47%

NAV & Total Return History

CAGCX - Holdings

Concentration Analysis

CAGCX Category Low Category High CAGCX % Rank
Net Assets 133 M 19.7 M 84.1 B 82.56%
Number of Holdings 130 37 381 22.09%
Net Assets in Top 10 27.2 M -991 K 795 M 88.37%
Weighting of Top 10 20.47% 9.5% 87.7% 66.28%

Top 10 Holdings

  1. State Street Navigator Securities Lending Government Money Market Portfolio 5.48%
  2. SEA LTD SR UNSECURED 09/26 0.25 2.15%
  3. NCL CORPORATION LTD COMPANY GUAR 02/27 1.125 1.97%
  4. WAYFAIR INC SR UNSECURED 144A 11/28 3.5 1.97%
  5. DRAFTKINGS HOLDINGS INC COMPANY GUAR 03/28 0.00000 1.58%
  6. BANK OF AMERICA CORP PREFERRED STOCK 7.25 1.55%
  7. ROYAL CARIBBEAN CRUISES SR UNSECURED 144A 08/25 6 1.54%
  8. MEITUAN SR UNSECURED REGS 04/28 0.0000 1.44%
  9. WELLS FARGO + COMPANY PREFERRED STOCK 7.5 1.40%
  10. OKTA INC SR UNSECURED 09/25 0.125 1.39%

Asset Allocation

Weighting Return Low Return High CAGCX % Rank
Bonds 		92.69% -18.46% 76.04% 17.44%
Convertible Bonds 		92.43% 33.22% 110.54% 10.47%
Cash 		5.48% -81.48% 7.92% 39.53%
Preferred Stocks 		4.69% 0.00% 22.93% 87.21%
Other 		0.39% -17.11% 1.13% 17.44%
Stocks 		0.00% 0.00% 23.09% 81.40%

Bond Sector Breakdown

Weighting Return Low Return High CAGCX % Rank
Corporate 		99.30% 91.11% 100.00% 25.58%
Cash & Equivalents 		5.48% 0.00% 8.40% 39.53%
Government 		0.70% 0.00% 2.94% 4.65%
Derivative 		0.39% 0.00% 0.00% 3.49%
Securitized 		0.00% 0.00% 0.00% 46.51%
Municipal 		0.00% 0.00% 0.00% 46.51%

Bond Geographic Breakdown

Weighting Return Low Return High CAGCX % Rank
US 		75.25% -25.25% 76.04% 76.74%
Non US 		17.45% 0.00% 6.79% 3.49%

CAGCX - Expenses

Operational Fees

CAGCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.28% 0.20% 9.99% 39.53%
Management Fee 0.85% 0.20% 1.37% 89.41%
12b-1 Fee 0.25% 0.00% 1.00% 43.14%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

CAGCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 2.25% 5.75% 93.75%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

CAGCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 35.00% 30.00% 154.00% 19.74%

CAGCX - Distributions

Dividend Yield Analysis

CAGCX Category Low Category High CAGCX % Rank
Dividend Yield 0.56% 0.00% 8.82% 69.77%

Dividend Distribution Analysis

CAGCX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Quarterly

Net Income Ratio Analysis

CAGCX Category Low Category High CAGCX % Rank
Net Income Ratio -2.96% -3.72% 10.32% 97.65%

Capital Gain Distribution Analysis

CAGCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

CAGCX - Fund Manager Analysis

Managers

John Hillenbrand

Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

As a Co-Chief Investment Officer, John Hillenbrand is responsible for oversight of investment team resources, investment processes, performance and risk. As Head of Multi-Asset 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. John joined Calamos in 2002 and has 30 years of industry experience. Prior to joining Calamos, he served as an equity research analyst at Credit Suisse First Boston and ABN AMRO and as an Account Manager - Business Credit Group at Continental Bank. John received a BBA in Public Accounting from Loyola University and an MBA in Analytic Finance from the University of Chicago Graduate School of Business. He is also a member of the American Institute of Certified Public Accountants.

Dennis Cogan

Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

Dennis Cogan is responsible for portfolio management and investment research for the firm’s global, international, and emerging market equity strategies. He joined Calamos in 2005 and has more than 20 years of industry experience. Previously, Dennis worked for Accenture in Strategic Planning and Analysis. He received a BS in Finance from Northern Illinois University.

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.

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.

Jon Vacko

Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

Jon Vacko is responsible for portfolio management and investment research. He joined the firm in 2000 and has 30 years of industry experience. Prior to joining Calamos, Jon was a credit analyst with Duff & Phelps Credit Rating (now part of Fitch Ratings) in the Financial Institutions Group and served as an examiner with the Federal Reserve Bank of Chicago. He received a BBA in Finance from the University of Wisconsin and an MBA from the University of Chicago.

Nick Niziolek

Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

As a Co-Chief Investment Officer, Nick Niziolek is responsible for oversight of investment team resources, investment processes, performance and risk. As Head of Global Strategies, he manages investment team members and has portfolio management responsibilities for international, global and emerging market strategies. 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. Nick joined the firm in 2005 and has 20 years of industry experience, including tenures at ABN AMRO and Bank One. He received a BS in Finance and an MBA from DePaul University.

Joe Wysocki

Start Date

Tenure

Tenure Rank

Mar 01, 2015

7.25

7.3%

Joe Wysocki is responsible for portfolio management and investment research. He joined Calamos in 2003 and has more than 20 years of industry experience. Prior to joining Calamos, he worked on the fixed income team at Strong Capital Management. Joe received a BA in Economics with a minor in Computer Science from Lake Forest College and an MBA from Northern Illinois University.

R. Matthew Freund

Start Date

Tenure

Tenure Rank

Nov 30, 2016

5.5

5.5%

As a Co-Chief Investment Officer, Matt Freund is responsible for oversight of investment team resources, investment processes, performance and risk. As Head of Fixed Income Strategies, he manages investment team members and has portfolio management responsibilities. 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. Matt joined Calamos in 2016 and has more than 30 years of industry experience. Prior to joining Calamos, he was Chief Investment Officer of USAA Investments, leading the teams responsible for the portfolio management of USAA’s mutual funds and affiliated portfolios, including P&C and life insurance products, and overseeing more than $140 billion in assets. During this time, he also served as lead portfolio manager for several highly regarded fixed income mutual funds. Earlier in his career, Matt served as a senior investment analyst for MetLife in the Capital Markets Group. He received a BA in Accounting from Franklin & Marshall College and an MBA from Indiana University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 36.97 10.12 7.42

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