CVSIX: Calamos Market Neutral Income - MutualFunds.com
Continue to site >
Trending ETFs

Welcome to MutualFunds.com

Please help us personalize your experience and select the one that best describes you.

Your personalized experience is almost ready.

Join other Individual Investors receiving FREE personalized market updates and research. Join other Institutional Investors receiving FREE personalized market updates and research. Join other Financial Advisors receiving FREE personalized market updates and research.

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission

We hope you enjoy your experience

Calamos Market Neutral Income A

CVSIX - Snapshot

Vitals

  • YTD Return 0.4%
  • 3 Yr Annualized Return 4.3%
  • 5 Yr Annualized Return 4.5%
  • Net Assets $11 B
  • Holdings in Top 10 35.2%

52 WEEK LOW AND HIGH

$14.15
$12.47
$14.15

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.21%

SALES FEES

  • Front Load 2.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 76.60%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $500

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Market Neutral

Compare CVSIX to Popular Market Neutral Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$14.14

-0.07%

$10.99 B

0.65%

$0.09

0.43%

-

$10.03

0.00%

$6.22 B

0.00%

$0.00

0.40%

-

$17.66

+0.23%

$3.62 B

0.73%

$0.13

1.32%

-

$12.96

+0.08%

$1.38 B

-

$0.00

1.65%

-

$9.09

+0.22%

$1.37 B

-

$0.04

3.30%

-

CVSIX - Profile

Distributions

  • YTD Total Return 0.4%
  • 3 Yr Annualized Total Return 3.4%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.43%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Calamos Market Neutral Income
  • Fund Family Name
    Calamos
  • Inception Date
    Sep 04, 1990
  • Shares Outstanding
    63974288
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Calamos

Fund Description

The fund invests (i) equities (ii) convertible securities of U.S. companies without regard to market capitalization and (iii) employs short selling and enters into total return swaps to enhance income and hedge against market risk. The average term to maturity of the convertible securities purchased by the fund will typically range from two to ten years. It may seek to generate income from option premiums by writing (selling) options. The fund may invest without limit in high yield fixed-income securities (often referred to as "junk bonds").


CVSIX - Performance

Return Ranking - Trailing

Period CVSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -1.9% 6.6% 72.12%
1 Yr 5.2% -19.7% 25.2% 37.74%
3 Yr 4.3%* -14.5% 11.7% 35.00%
5 Yr 4.5%* -7.0% 9.7% 25.93%
10 Yr 3.9%* -5.9% 8.7% 25.71%

* Annualized

Return Ranking - Calendar

Period CVSIX Return Category Return Low Category Return High Rank in Category (%)
2020 4.5% -31.7% 23.2% 24.51%
2019 5.0% -20.7% 10.7% 10.89%
2018 -2.9% -12.4% 14.7% 61.70%
2017 1.7% -13.2% 12.9% 51.85%
2016 2.0% -17.6% 7.9% 48.61%

Total Return Ranking - Trailing

Period CVSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -1.9% 6.6% 72.12%
1 Yr 2.3% -21.4% 25.2% 50.94%
3 Yr 3.4%* -14.5% 11.7% 44.00%
5 Yr 3.9%* -7.0% 9.7% 30.86%
10 Yr 3.7%* -5.9% 8.7% 25.71%

* Annualized

Total Return Ranking - Calendar

Period CVSIX Return Category Return Low Category Return High Rank in Category (%)
2020 4.5% -31.7% 23.2% 24.51%
2019 5.0% -20.7% 10.7% 10.89%
2018 1.5% -12.4% 14.7% 34.04%
2017 4.6% -12.7% 12.9% 38.27%
2016 4.7% -17.6% 13.2% 19.44%

NAV & Total Return History


CVSIX - Holdings

Concentration Analysis

CVSIX Category Low Category High CVSIX % Rank
Net Assets 11 B 105 K 11 B 0.93%
Number of Holdings 827 5 4018 19.44%
Net Assets in Top 10 766 M -14.4 M 5.34 B 5.56%
Weighting of Top 10 35.19% 8.7% 96.3% 68.89%

Top 10 Holdings

  1. Tesla Inc 8.73%
  2. Morgan Stanley Instl Lqudty Govt Instl 4.44%
  3. Tesla Inc 2.38% 4.29%
  4. Tesla Inc 2% 3.13%
  5. S&P 500 Call Dec20 3.01%
  6. S&P 500 Call Dec20 3.01%
  7. S&P 500 Call Dec20 3.01%
  8. S&P 500 Call Dec20 3.01%
  9. S&P 500 Call Dec20 3.01%
  10. S&P 500 Call Dec20 3.01%

Asset Allocation

Weighting Return Low Return High CVSIX % Rank
Convertible Bonds
49.35% 0.00% 88.08% 8.33%
Cash
46.94% -225.56% 114.99% 55.56%
Preferred Stocks
3.18% 0.00% 6.55% 6.48%
Bonds
1.78% -3.69% 61.47% 32.41%
Other
0.13% -2.75% 45.62% 44.44%
Stocks
-1.39% -50.14% 325.56% 75.93%

Stock Sector Breakdown

Weighting Return Low Return High CVSIX % Rank
Technology
22.85% 0.00% 100.00% 26.80%
Healthcare
13.56% 0.00% 33.24% 28.87%
Financial Services
13.05% 0.00% 99.83% 68.04%
Consumer Cyclical
11.46% 0.00% 21.98% 36.08%
Communication Services
10.46% 0.00% 33.72% 23.71%
Industrials
9.16% 0.00% 25.71% 40.21%
Consumer Defense
7.26% 0.00% 30.58% 24.74%
Utilities
5.58% 0.00% 66.28% 17.53%
Real Estate
2.42% 0.00% 96.33% 48.45%
Energy
2.14% 0.00% 30.03% 44.33%
Basic Materials
2.06% 0.00% 100.00% 58.76%

Stock Geographic Breakdown

Weighting Return Low Return High CVSIX % Rank
US
3.56% -44.74% 325.56% 58.33%
Non US
-4.95% -9.31% 83.94% 93.52%

Bond Sector Breakdown

Weighting Return Low Return High CVSIX % Rank
Corporate
53.11% 0.00% 100.00% 12.04%
Cash & Equivalents
46.36% 0.00% 100.00% 78.70%
Securitized
0.29% 0.00% 28.36% 8.33%
Government
0.22% 0.00% 31.71% 26.85%
Municipal
0.02% 0.00% 2.25% 11.11%
Derivative
0.00% 0.00% 30.34% 30.56%

Bond Geographic Breakdown

Weighting Return Low Return High CVSIX % Rank
US
1.29% -0.23% 112.14% 32.41%
Non US
0.49% -102.63% 11.98% 13.89%

CVSIX - Expenses

Operational Fees

CVSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.21% 0.64% 10.50% 89.72%
Management Fee 0.66% 0.13% 1.65% 17.59%
12b-1 Fee 0.25% 0.00% 1.00% 31.75%
Administrative Fee N/A 0.06% 0.40% N/A

Sales Fees

CVSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.75% 2.75% 5.75% 94.74%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CVSIX 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.

CVSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 76.60% 30.00% 483.00% 9.68%

CVSIX - Distributions

Dividend Yield Analysis

CVSIX Category Low Category High CVSIX % Rank
Dividend Yield 0.00% 0.00% 1.22% 12.96%

Dividend Distribution Analysis

CVSIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

CVSIX Category Low Category High CVSIX % Rank
Net Income Ratio 1.43% -3.64% 3.48% 23.36%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

CVSIX - Fund Manager Analysis

Managers

John Calamos


Start Date

Tenure

Tenure Rank

Sep 04, 1990

30.35

30.4%

John P. Calamos, Sr. has been President and Trustee of the Calamos Investment Trust (“Trust”) and for CALAMOS ADVISORS: Founder, Chairman and Global Chief Investment Officer (“Global CIO”) since August 2016; Chairman and Global CIO from April to August 2016; Chairman, Chief Executive Officer and Global Co-CIO between April 2013 and April 2016; Chief Executive Officer and Global Co-CIO between August 2012 and April 2013; and Chief Executive Officer and Co-CIO prior thereto. Mr. Calamos received his B.A. in Economics and an M.B.A. in Finance from the Illinois Institute of Technology. He joined the United States Air Force after graduation where he served as a combat pilot during the Vietnam War and ultimately earned the rank of Major.

Jason Hill


Start Date

Tenure

Tenure Rank

Aug 05, 2013

7.41

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.

Eli Pars


Start Date

Tenure

Tenure Rank

Jun 26, 2014

6.52

6.5%

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 32 years of industry experience, including 13 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 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.

David O’Donohue


Start Date

Tenure

Tenure Rank

Sep 01, 2015

5.34

5.3%

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

1.84

1.8%

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
0.02 30.35 6.28 3.37