CGO vs VYM
Calamos Global Total Return Fund vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | CGO | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 2.30% | 0.04% | |
| AUM | $203M | $79.0B | |
| Dividend Yield | 5.69% | 2.86% | |
| Holdings | 714 | 568 | |
| YTD Return | +19.39% | +16.10% | |
| 1Y Return | +22.45% | +25.99% | |
| 3Y Return (annualized) | +21.55% | +18.29% | |
| 5Y Return (annualized) | +4.78% | +12.35% | |
| Volatility (annualized) | 20.9% | 14.6% | |
| Max Drawdown | -67.0% | -58.8% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Oct 27, 2005 | Nov 10, 2006 |
CGO vs VYM Performance
Calamos Global Total Return Fund (CGO) is a ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CGO returned +22.45% while VYM returned +25.99%. Year to date, CGO is up 19.39% versus a gain of 16.10% for VYM.
Over three years, CGO compounded at +21.55% per year against +18.29% for VYM; over five years the annualized figures are +4.78% and +12.35% respectively. Across the full 20-year window we track, VYM has the edge at +7.08% annualized vs +1.75%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGO has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 14.6% for VYM. 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 -67.0% for CGO and -58.8% for VYM. 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CGO charges 2.30% per year while VYM charges 0.04%. On a $10,000 position that is $230 vs $4 annually, a gap of $226 per year that compounds over a long holding period. On income, CGO currently yields 5.69% against 2.86% for VYM.
Holdings Overlap
CGO and VYM share 67 holdings out of 984 unique holdings combined, representing a 8.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CGO or VYM?
CGO has an expense ratio of 2.30% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $226 per year of difference.
Which performed better, CGO or VYM?
Over the past year CGO returned +22.45% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), CGO annualized +1.75% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, CGO or VYM?
CGO has been the more volatile fund at 20.9% annualized versus 14.6% for VYM. Worst drawdown: CGO -67.0% vs VYM -58.8%.
Should I hold both CGO and VYM?
CGO and VYM have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CGO and VYM?
CGO and VYM share 67 common holdings with a 8.3% weight overlap. Combined, they hold 984 unique securities.
Which pays a higher dividend, CGO or VYM?
CGO yields 5.69% while VYM yields 2.86%, so CGO currently pays the higher dividend yield.
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