Fund Evaluator:
Calamos Global Convertible C (CCGCX)
Follow This Fund
Best Performing in Convertibles Over the Last Year
| 24.2% | Harbor Ares Systematic Cnvrt Scs Ins (HACSX) |
| 24.1% | Fidelity Advisor Convertible Secs Z (FIQVX) |
| 24.0% | Fidelity Convertible Securities (FCVSX) |
| 23.8% | Harbor Ares Systematic Cnvrt Scs Inv (HICSX) |
| 21.1% | Invesco Convertible Securities Y (CNSDX) |
Fund Details
Calamos Global Convertible C Overview
Calamos Global Convertible C (CCGCX) is an actively managed Allocation Convertibles fund. Calamos launched the fund in 2014.
The investment seeks total return through capital appreciation and current income. 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. Under normal circumstances, it 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 invest up to 20% of its net assets in equity securities or securities with economic characteristics similar to stock or the equity markets.
About Calamos Global Convertible C (CCGCX)
There are 9 members of the management team with an average tenure of 10.45 years: Jon Vacko (2014), John Hillenbrand (2014), Joe Wysocki (2015), Dennis Cogan (2014), Nick Niziolek (2014), Eli Pars (2014), Anthony Vecchiolla (2023), John Calamos (2014), R. Matthew Freund (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Refinitiv Global Convertible TR USD index with a weighting of 100%. Calamos Global Convertible C has 122 securities in its portfolio. The top 10 holdings constitute 25.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Calamos Global Convertible C is part of the Hybrid Securities global asset class and is within the Allocation fund group. Calamos Global Convertible C has 3.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 9.9% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 4.4% (0.8% domestic bond, 3.6% foreign bond and 83.3% convertible bond). Calamos Global Convertible C has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $212 million average for the Convertibles category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CCGCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Calamos Global Convertible C expense ratio is high compared to funds in the Convertibles category. Calamos Global Convertible C has an expense ratio of 2.08%, which is 87% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Calamos Global Convertible C has a portfolio turnover rate of 52%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 109% for the Convertibles category.
Recently, in the month of July 2026, Calamos Global Convertible C returned -0.7%, which earned it a grade of A, as the Convertibles category had an average return of -4.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Calamos Global Convertible C has a trailing yield of 0.07%, which is below the 1.71% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Calamos Global Convertible C Grades
Year to date, the fund has returned 13.6%, 0.6 percentage points better than the category, which translates into a grade of C. The fund has returned 21.5% over the past year (grade of C), 13.8% over the past three years (grade of D) and 4.3% per year over the past five years (grade of F) and 7.9% per year over the past 10 years (grade of F).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Calamos Global Convertible C, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
CCGCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CCGCX Return (NAV) | -0.7% | 4.1% | 21.5% | 13.8% | 4.3% | 7.9% |
| CCGCX Grade | A | A | C | D | F | F |
| +/- Category | 3.7% | 3.1% | 0.6% | 0.0% | -1.3% | -2.8% |
| Convertibles Avg | -4.5% | 1.1% | 20.9% | 13.8% | 5.6% | 10.7% |
| CCGCX Tax Cost Ratio | na | na | 1.2% | 0.4% | 1.1% | 1.1% |
CCGCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CCGCX Return (NAV) | 13.6% | 17.4% | 9.9% | 12.3% | -22.8% | -1.2% | 37.2% | 14.0% | -3.8% | 13.3% | 2.8% |
| CCGCX Grade | C | C | D | A | F | F | D | F | F | D | F |
| +/- Category | 0.6% | 1.2% | -1.3% | 3.6% | -5.0% | -6.1% | -5.3% | -8.9% | -2.2% | -0.5% | -5.3% |
| Convertibles Avg | 13.0% | 16.1% | 11.2% | 8.7% | -17.8% | 4.9% | 42.4% | 22.9% | -1.6% | 13.8% | 8.1% |
| Risk Measures | |
| Standard Deviation: | 9.6% |
| Total Risk Index: | 0.78 - Below Average |
| Category Risk Index: | 0.82 - Low |
| Category Risk Grade: | A (17% Rank) |
| Beta: | 0.92 |
| R-Squared: | 81% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 0.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $184 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 52% |
Management Team
| Number of Managers: 9 | |||
| Longest Tenure: 11.6 years | |||
| Average Tenure: 10.5 years | |||
| Managers (Year): Cogan Dennis (2014), Niziolek Nick (2014), Pars Eli (2014), Vacko Jon (2014), Hillenbrand John (2014), Calamos John (2014), Wysocki Joe (2015), Freund R. Matthew (2016), Vecchiolla Anthony (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 122 |
| % in Top 10 Holdings: | 25.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 9.9% |
| Domestic Bond: | 0.8% |
| Foreign Bond: | 3.6% |
| Convertible Bond: | 83.3% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Calamos |
| Phone Number: | 800-582-6959 |
| Website: | www.calamos.com |
| Status: | Open |
| Inception Date: | December 31, 2014 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.08% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.11% |
| Share Class: | Calamos Global Convertible I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
