CCEF vs VOO
Calamos CEF Income & Arbitrage ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | CCEF | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 3.19% | 0.03% | |
| AUM | $35M | $997.4B | |
| Dividend Yield | 8.03% | 1.08% | |
| Holdings | 55 | 509 | |
| YTD Return | +9.37% | +13.73% | |
| 1Y Return | +14.05% | +21.53% | |
| 3Y Return (annualized) | - | +22.60% | |
| 5Y Return (annualized) | - | +13.31% | |
| Volatility (annualized) | 9.5% | 14.1% | |
| Max Drawdown | -14.1% | -34.3% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 16, 2024 | Sep 7, 2010 |
CCEF vs VOO Performance
Calamos CEF Income & Arbitrage ETF (CCEF) is a ETF from Calamos Investments and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CCEF returned +14.05% while VOO returned +21.53%. Year to date, CCEF is up 9.37% versus a gain of 13.73% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 9.5% for CCEF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.1% for CCEF and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CCEF charges 3.19% per year while VOO charges 0.03%. On a $10,000 position that is $319 vs $3 annually, a gap of $316 per year that compounds over a long holding period. On income, CCEF currently yields 8.03% against 1.08% for VOO.
Holdings Overlap
CCEF and VOO share 0 holdings out of 561 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CCEF or VOO?
CCEF has an expense ratio of 3.19% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $316 per year of difference.
Which performed better, CCEF or VOO?
Over the past year CCEF returned +14.05% vs +21.53% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (3 years), CCEF annualized +15.59% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, CCEF or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 9.5% for CCEF. Worst drawdown: CCEF -14.1% vs VOO -34.3%.
Should I hold both CCEF and VOO?
CCEF and VOO have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CCEF and VOO?
CCEF and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 561 unique securities.
Which pays a higher dividend, CCEF or VOO?
CCEF yields 8.03% while VOO yields 1.08%, so CCEF currently pays the higher dividend yield.
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