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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
26.5%
1 yr return
35.4%
3 Yr Avg Return
5.5%
5 Yr Avg Return
12.6%
Net Assets
$270 M
Holdings in Top 10
32.7%
Expense Ratio 1.49%
Front Load 4.75%
Deferred Load N/A
Turnover 82.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$500
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund invests primarily in a globally-diversified portfolio of convertible, equity and fixed-income securities, which may include synthetic convertible instruments, without regard to market capitalization. In pursuing its investment objective, the Fund attempts to utilize these different types of securities to strike, in the investment adviser's opinion, the appropriate balance between risk and reward in terms of growth and income.
A synthetic convertible instrument is designed to simulate the economic characteristics of a convertible security through the combined features of a debt instrument, or loan, and a security providing an option on an equity security. The Fund may establish a synthetic convertible instrument by combining a fixed-income security with the right to acquire an equity security. The fixed-income and equity option components may have different issuers, and either component may change at any time.
The Fund anticipates that under normal circumstances its investment adviser's investment process will result in the Fund investing in an internationally-diversified manner, with at least 40% of its assets in securities of foreign issuers. 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 investment adviser takes environmental, social and governance ("ESG") factors into account in making investment decisions. 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. Consistent with the Fund's investment objective and principal investment strategies the Fund's investment adviser views the 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.
Period | CVLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 26.5% | -23.7% | 16.4% | 95.49% |
1 Yr | 35.4% | -8.9% | 48.3% | 43.35% |
3 Yr | 5.5%* | -2.2% | 16.4% | 0.67% |
5 Yr | 12.6%* | -0.7% | 13.4% | 0.93% |
10 Yr | 8.8%* | 0.9% | 11.8% | 9.47% |
* Annualized
Period | CVLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.4% | -40.8% | 20.6% | 26.61% |
2022 | -22.3% | -21.0% | 24.5% | 0.68% |
2021 | 9.3% | -24.2% | 27.8% | 10.05% |
2020 | 24.1% | -23.1% | 11.7% | 96.02% |
2019 | 16.8% | -100.0% | 20.6% | 19.07% |
Period | CVLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 26.5% | -23.7% | 16.4% | 95.49% |
1 Yr | 35.4% | -12.8% | 48.3% | 76.91% |
3 Yr | 5.5%* | -3.4% | 16.4% | 1.53% |
5 Yr | 12.6%* | -1.1% | 13.4% | 2.52% |
10 Yr | 8.8%* | 0.9% | 11.8% | 17.40% |
* Annualized
Period | CVLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.1% | -40.8% | 20.6% | 26.61% |
2022 | -22.3% | -21.0% | 24.5% | 0.68% |
2021 | 15.8% | -24.2% | 27.8% | 10.05% |
2020 | 31.8% | -23.1% | 11.7% | 98.26% |
2019 | 18.3% | -2.9% | 23.1% | 4.90% |
CVLOX | Category Low | Category High | CVLOX % Rank | |
---|---|---|---|---|
Net Assets | 270 M | 1.12 M | 110 B | 60.04% |
Number of Holdings | 88 | 2 | 10961 | 69.10% |
Net Assets in Top 10 | 85.4 M | -31.7 M | 22 B | 65.76% |
Weighting of Top 10 | 32.74% | 10.8% | 100.0% | 56.76% |
Weighting | Return Low | Return High | CVLOX % Rank | |
---|---|---|---|---|
Stocks | 53.84% | -45.72% | 98.42% | 29.23% |
Bonds | 40.31% | -39.76% | 93.84% | 93.11% |
Convertible Bonds | 21.19% | 0.00% | 25.49% | 0.21% |
Other | 2.36% | -1.25% | 197.12% | 71.40% |
Preferred Stocks | 1.80% | -0.03% | 14.00% | 5.43% |
Cash | 1.69% | -97.12% | 185.58% | 86.85% |
Weighting | Return Low | Return High | CVLOX % Rank | |
---|---|---|---|---|
Technology | 21.86% | 0.00% | 39.48% | 6.16% |
Healthcare | 14.17% | 0.00% | 30.30% | 68.37% |
Financial Services | 14.17% | 0.00% | 30.34% | 20.17% |
Industrials | 11.58% | 0.09% | 32.39% | 75.58% |
Consumer Defense | 10.07% | 0.00% | 31.85% | 19.96% |
Consumer Cyclical | 8.15% | 0.00% | 20.84% | 50.74% |
Communication Services | 7.40% | 0.00% | 28.59% | 43.10% |
Energy | 6.76% | 0.00% | 38.61% | 28.03% |
Basic Materials | 5.14% | 0.00% | 60.23% | 26.75% |
Utilities | 0.69% | 0.00% | 40.29% | 85.56% |
Real Estate | 0.00% | 0.00% | 90.14% | 95.33% |
Weighting | Return Low | Return High | CVLOX % Rank | |
---|---|---|---|---|
US | 37.81% | -4.82% | 95.75% | 33.40% |
Non US | 16.03% | -46.69% | 57.06% | 32.36% |
Weighting | Return Low | Return High | CVLOX % Rank | |
---|---|---|---|---|
Corporate | 86.72% | 0.00% | 99.90% | 1.25% |
Government | 3.83% | 0.00% | 98.64% | 90.19% |
Derivative | 2.36% | 0.00% | 41.88% | 49.27% |
Cash & Equivalents | 0.60% | 0.10% | 100.00% | 91.86% |
Securitized | 0.00% | 0.00% | 83.28% | 73.49% |
Municipal | 0.00% | 0.00% | 31.28% | 35.91% |
Weighting | Return Low | Return High | CVLOX % Rank | |
---|---|---|---|---|
US | 33.15% | -177.12% | 87.76% | 92.90% |
Non US | 7.17% | -39.00% | 137.36% | 86.85% |
CVLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.49% | 0.16% | 2.71% | 36.95% |
Management Fee | 1.00% | 0.00% | 1.70% | 95.07% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 16.33% |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
CVLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.75% | 0.00% | 5.75% | 65.52% |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
CVLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
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.
CVLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 82.00% | 0.00% | 441.00% | 67.70% |
CVLOX | Category Low | Category High | CVLOX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.32% | 0.00% | 10.92% | 27.23% |
CVLOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Monthly |
CVLOX | Category Low | Category High | CVLOX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.33% | -5.20% | 6.33% | 96.73% |
CVLOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 16, 2024 | $0.011 | OrdinaryDividend |
Mar 15, 2024 | $0.004 | OrdinaryDividend |
Dec 21, 2023 | $0.028 | OrdinaryDividend |
Sep 15, 2023 | $0.017 | OrdinaryDividend |
Jun 15, 2023 | $0.020 | OrdinaryDividend |
Dec 20, 2021 | $0.664 | OrdinaryDividend |
Sep 15, 2021 | $0.001 | OrdinaryDividend |
Jun 16, 2021 | $0.012 | OrdinaryDividend |
Mar 17, 2021 | $0.009 | OrdinaryDividend |
Dec 22, 2020 | $0.655 | OrdinaryDividend |
Sep 17, 2020 | $0.011 | OrdinaryDividend |
Jun 18, 2020 | $0.006 | OrdinaryDividend |
Dec 18, 2019 | $0.086 | CapitalGainLongTerm |
Sep 12, 2019 | $0.010 | OrdinaryDividend |
Jun 13, 2019 | $0.014 | OrdinaryDividend |
Mar 14, 2019 | $0.003 | OrdinaryDividend |
Dec 20, 2018 | $0.042 | OrdinaryDividend |
Dec 20, 2018 | $0.147 | CapitalGainShortTerm |
Dec 20, 2018 | $0.738 | CapitalGainLongTerm |
Sep 13, 2018 | $0.010 | OrdinaryDividend |
Jun 14, 2018 | $0.013 | OrdinaryDividend |
Mar 15, 2018 | $0.010 | OrdinaryDividend |
Dec 14, 2017 | $0.566 | CapitalGainLongTerm |
Jun 15, 2017 | $0.007 | OrdinaryDividend |
Dec 15, 2016 | $0.001 | OrdinaryDividend |
Dec 15, 2016 | $0.056 | CapitalGainLongTerm |
Dec 17, 2015 | $0.107 | CapitalGainLongTerm |
Dec 18, 2014 | $0.040 | OrdinaryDividend |
Dec 18, 2014 | $0.115 | CapitalGainShortTerm |
Dec 18, 2014 | $1.598 | CapitalGainLongTerm |
Mar 20, 2014 | $0.009 | OrdinaryDividend |
Dec 19, 2013 | $0.277 | OrdinaryDividend |
Dec 19, 2013 | $0.001 | CapitalGainShortTerm |
Dec 19, 2013 | $1.745 | CapitalGainLongTerm |
Mar 21, 2013 | $0.014 | OrdinaryDividend |
Dec 20, 2012 | $0.241 | CapitalGainLongTerm |
Dec 20, 2012 | $0.076 | OrdinaryDividend |
Jun 21, 2012 | $0.045 | OrdinaryDividend |
Mar 22, 2012 | $0.126 | OrdinaryDividend |
Dec 22, 2011 | $0.041 | OrdinaryDividend |
Jun 17, 2010 | $0.149 | OrdinaryDividend |
Mar 18, 2010 | $0.042 | OrdinaryDividend |
Dec 18, 2008 | $0.228 | OrdinaryDividend |
Dec 20, 2007 | $0.028 | CapitalGainLongTerm |
Nov 16, 2007 | $0.697 | CapitalGainLongTerm |
Dec 28, 2006 | $0.010 | CapitalGainLongTerm |
Nov 16, 2006 | $0.041 | CapitalGainShortTerm |
Nov 16, 2006 | $0.288 | CapitalGainLongTerm |
Apr 06, 2006 | $0.104 | OrdinaryDividend |
Dec 29, 2005 | $0.237 | OrdinaryDividend |
Nov 17, 2005 | $0.016 | CapitalGainShortTerm |
Nov 17, 2005 | $0.144 | CapitalGainLongTerm |
Nov 17, 2004 | $0.003 | CapitalGainLongTerm |
Jun 26, 2003 | $0.010 | OrdinaryDividend |
Jun 26, 2002 | $0.023 | OrdinaryDividend |
Mar 27, 2002 | $0.159 | OrdinaryDividend |
Nov 07, 2001 | $0.028 | CapitalGainLongTerm |
Sep 26, 2001 | $0.033 | OrdinaryDividend |
Jun 27, 2001 | $0.042 | OrdinaryDividend |
Mar 28, 2001 | $0.048 | OrdinaryDividend |
Dec 28, 2000 | $0.370 | OrdinaryDividend |
Nov 09, 2000 | $0.679 | CapitalGainLongTerm |
Sep 28, 2000 | $0.025 | OrdinaryDividend |
Jun 29, 2000 | $0.028 | OrdinaryDividend |
Dec 29, 1999 | $0.137 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
Sep 09, 1996
25.74
25.7%
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.
Start Date
Tenure
Tenure Rank
Mar 01, 2004
18.26
18.3%
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.
Start Date
Tenure
Tenure Rank
Mar 01, 2004
18.26
18.3%
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.
Start Date
Tenure
Tenure Rank
Mar 01, 2013
9.25
9.3%
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.
Start Date
Tenure
Tenure Rank
Mar 01, 2013
9.25
9.3%
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.
Start Date
Tenure
Tenure Rank
Aug 05, 2013
8.82
8.8%
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.
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.
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |
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