CIHEX: Calamos Hedged Equity Income I

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CIHEX Calamos Hedged Equity Income I

  • Fund
  • CIHEX
  • Price as of: Oct 18, 2019
  • $11.76 - $0.03 - 0.25%

CIHEX - Profile

Vitals

  • YTD Return 9.5%
  • 3 Yr Annualized Return 5.3%
  • 5 Yr Annualized Return N/A
  • Net Assets $225 M
  • Holdings in Top 10 26.7%

52 WEEK LOW AND HIGH

$11.76
$10.57
$11.81

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.26%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 140.80%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

$1,000,000

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Options-based

Distributions

  • YTD Total Return 9.5%
  • 3 Yr Annualized Total Return 6.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.91%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Calamos Hedged Equity Fund
  • Fund Family Name Calamos
  • Inception Date Dec 31, 2014
  • Shares Outstanding 18156241
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager John P. Calamos

Fund Description

The fund seeks to achieve total return with lower volatility than equity markets. Under normal circumstances, it 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 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).

CIHEX - Performance

Return Ranking - Trailing

Period CIHEX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% -22.9% 47.5% 36.49%
1 Yr 1.9% -44.7% 33.7% 26.55%
3 Yr 5.3%* -19.4% 25.4% 27.78%
5 Yr N/A* -24.8% 22.5% N/A
10 Yr N/A* -5.8% 26.4% N/A

* Annualized


Return Ranking - Calendar

Period CIHEX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.2% -35.0% 4.6% 3.83%
2017 7.4% -25.3% 49.9% 44.71%
2016 4.1% -22.0% 47.9% 70.88%
2015 -1.8% -65.1% 127.1% 22.37%
2014 N/A -12.5% 39.1% N/A

Total Return Ranking - Trailing

Period CIHEX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% -22.9% 47.5% 37.07%
1 Yr 1.9% -31.7% 33.7% 29.20%
3 Yr 6.0%* -19.4% 25.4% 29.51%
5 Yr N/A* -24.8% 22.5% N/A
10 Yr N/A* -5.8% 26.4% N/A

* Annualized


Total Return Ranking - Calendar

Period CIHEX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.7% -31.5% 8.2% 7.99%
2017 8.4% -25.3% 49.9% 49.49%
2016 5.5% -22.0% 65.5% 68.58%
2015 0.8% -65.1% 127.1% 15.98%
2014 N/A -12.5% 39.1% N/A

NAV & Total Return History

CIHEX - Holdings

Concentration Analysis

CIHEX Category Low Category High CIHEX % Rank
Net Assets 225 M 1.07 M 8.01 B 39.44%
Number of Holdings 318 6 2019 11.88%
Net Assets in Top 10 33.6 M -877 M 2.4 B 61.05%
Weighting of Top 10 26.73% 10.8% 461.9% 81.49%

Top 10 Holdings

  1. Microsoft Corp 4.62%

  2. Apple Inc 4.32%

  3. S+p 500 Index Dec19 2500 Call 3.80%

  4. Amazon.com Inc 3.32%

  5. Facebook Inc A 2.33%

  6. S+p 500 Index Sep19 2675 Call 1.90%

  7. JPMorgan Chase & Co 1.74%

  8. Berkshire Hathaway Inc B 1.63%

  9. Visa Inc Class A 1.57%

  10. Alphabet Inc Class C 1.52%


Asset Allocation

Weighting Return Low Return High CIHEX % Rank
Stocks
99.76% 80.31% 259.25% 20.99%
Cash
0.24% -39.89% 36.18% 79.01%
Preferred Stocks
0.00% -5.47% 7.20% 68.23%
Other
0.00% -47.42% 39.52% 63.26%
Convertible Bonds
0.00% -0.03% 3.03% 68.78%
Bonds
0.00% -234.98% 40.78% 64.64%

Stock Sector Breakdown

Weighting Return Low Return High CIHEX % Rank
Technology
24.16% 0.00% 60.24% 14.25%
Financial Services
16.66% 0.00% 91.88% 19.27%
Healthcare
14.97% 0.00% 28.15% 10.89%
Consumer Cyclical
12.99% 0.00% 31.33% 26.26%
Industrials
10.83% -7.48% 48.09% 23.18%
Consumer Defense
8.64% -12.43% 30.80% 19.55%
Energy
4.95% -0.45% 152.81% 49.16%
Utilities
3.54% -10.13% 35.22% 34.36%
Communication Services
3.47% -0.44% 11.49% 22.35%
Real Estate
3.37% -2.38% 84.46% 26.82%
Basic Materials
2.20% -1.05% 15.55% 44.41%

Stock Geographic Breakdown

Weighting Return Low Return High CIHEX % Rank
US
99.03% 80.26% 151.48% 19.06%
Non US
0.73% -2.30% 159.65% 69.89%

CIHEX - Expenses

Operational Fees

CIHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.26% -2.86% 37.17% 75.22%
Management Fee 0.75% 0.00% 2.64% 23.20%
12b-1 Fee 0.00% 0.00% 1.00% 11.17%
Administrative Fee N/A 0.04% 0.45% N/A

Sales Fees

CIHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

Turnover 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.

CIHEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 140.80% 0.00% 5155.00% 70.79%

CIHEX - Distributions

Dividend Yield Analysis

CIHEX Category Low Category High CIHEX % Rank
Dividend Yield 0.13% 0.00% 79.01% 66.85%

Dividend Distribution Analysis

CIHEX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

CIHEX Category Low Category High CIHEX % Rank
Net Income Ratio 0.91% -7.28% 9.57% 23.92%

Capital Gain Distribution Analysis

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

CIHEX - Managers

John P. Calamos

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2014

4.75

4.8%

John P. Calamos is the founder of CALAMOS ASSET MANAGEMENT, INC., the 16th largest money manager in Chicagoland. The firm offers institutional and individual investors a breadth of strategies through both individually managed portfolios and mutual funds. Mr. Calamos received his undergraduate degree in Economics and MBA in Finance from the Illinois Institute of Technology. Joining the United States Air Force after graduation, he served as a combat pilot during the Vietnam War and ultimately earned the rank of Major. Following his military service, John devoted his entire professional career to investment management and research, establishing his own firm in 1977. Mr. Calamos is a member of the Investment Analysts Society of Chicago and has taught graduate level courses on finance and investments. Mr. Calamos has written 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, along with numerous articles in various financial journals. He is often quoted in the press, including The Wall Street Journal, Investor’s Business Daily, Barron’s, Fortune, BusinessWeek and Pensions & Investments. He has appeared on CNBC, CNNfn, Louis Rukeyser's Wall Street and Nightly Business Report.


Eli Pars

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2014

4.75

4.8%

Eli Pars joined CALAMOS ADVISORS in May 2013 and has been Co-CIO, Head of Alternative Strategies and Co-Head of Convertible Strategies, as well as a Senior Co-Portfolio Manager, since September 2015. Between May 2013 and September 2015, he was a Co-Portfolio Manager. Previously, he was a Portfolio Manager at Chicago Fundamental Investment Partners from February 2009 until November 2012. He received a B.A. in English Literature from the University of Illinois and an M.B.A. with a specialization in Finance from the University of Chicago Graduate School of Business.


Jason Hill

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2014

4.75

4.8%

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.


David O’Donohue

Manager

Start Date

Tenure

Tenure Rank

Sep 01, 2015

4.08

4.1%

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

Manager

Start Date

Tenure

Tenure Rank

Feb 28, 2019

0.59

0.6%

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

0.34

Category High

41.28

Category Average

5.71

Category Mode

9.51