CHI vs VOO
Calamos Convertible Opportunities and Income Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. CHI delivered stronger 1-year returns. CHI offers more diversification with 624 holdings.
Side-by-Side Comparison
| Metric | CHI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.83% | 0.03% | |
| AUM | $1.5B | $997.4B | |
| Dividend Yield | 8.77% | 1.08% | |
| Holdings | 624 | 509 | |
| YTD Return | +29.00% | +12.68% | |
| 1Y Return | +40.35% | +21.87% | |
| 3Y Return (annualized) | +17.52% | +22.06% | |
| 5Y Return (annualized) | +6.70% | +12.95% | |
| Volatility (annualized) | 19.6% | 14.1% | |
| Max Drawdown | -73.3% | -34.3% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Jun 26, 2002 | Sep 7, 2010 |
CHI vs VOO Performance
Calamos Convertible Opportunities and Income Fund (CHI) is a ETF from Calamos Investments and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CHI returned +40.35% while VOO returned +21.87%. Year to date, CHI is up 29.00% versus a gain of 12.68% for VOO.
Over three years, CHI compounded at +17.52% per year against +22.06% for VOO; over five years the annualized figures are +6.70% and +12.95% respectively. Across the full 16-year window we track, VOO has the edge at +13.47% annualized vs +1.63%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHI has been the more volatile fund, with annualized monthly volatility of 19.6% compared with 14.1% for VOO. 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 -73.3% for CHI 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CHI charges 1.83% per year while VOO charges 0.03%. On a $10,000 position that is $183 vs $3 annually, a gap of $180 per year that compounds over a long holding period. On income, CHI currently yields 8.77% against 1.08% for VOO.
Holdings Overlap
CHI and VOO share 7 holdings out of 1009 unique holdings combined, representing a 0.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CHI or VOO?
CHI has an expense ratio of 1.83% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $180 per year of difference.
Which performed better, CHI or VOO?
Over the past year CHI returned +40.35% vs +21.87% for VOO, so CHI leads on 1-year performance. Over the longest common window we track (16 years), CHI annualized +1.63% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, CHI or VOO?
CHI has been the more volatile fund at 19.6% annualized versus 14.1% for VOO. Worst drawdown: CHI -73.3% vs VOO -34.3%.
Should I hold both CHI and VOO?
CHI and VOO have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CHI and VOO?
CHI and VOO share 7 common holdings with a 0.6% weight overlap. Combined, they hold 1009 unique securities.
Which pays a higher dividend, CHI or VOO?
CHI yields 8.77% while VOO yields 1.08%, so CHI currently pays the higher dividend yield.
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