CHI vs VTI
Calamos Convertible Opportunities and Income Fund vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. CHI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | CHI | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.83% | 0.03% | |
| AUM | $1.5B | $666.9B | |
| Dividend Yield | 8.77% | 1.07% | |
| Holdings | 624 | 3,543 | |
| YTD Return | +29.00% | +13.14% | |
| 1Y Return | +40.35% | +22.35% | |
| 3Y Return (annualized) | +17.52% | +21.83% | |
| 5Y Return (annualized) | +6.70% | +12.01% | |
| Volatility (annualized) | 19.6% | 15.3% | |
| Max Drawdown | -73.3% | -56.6% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Jun 26, 2002 | May 24, 2001 |
CHI vs VTI Performance
Calamos Convertible Opportunities and Income Fund (CHI) is a ETF from Calamos Investments and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year CHI returned +40.35% while VTI returned +22.35%. Year to date, CHI is up 29.00% versus a gain of 13.14% for VTI.
Over three years, CHI compounded at +17.52% per year against +21.83% for VTI; over five years the annualized figures are +6.70% and +12.01% respectively. Across the full 24-year window we track, VTI has the edge at +8.09% 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 15.3% for VTI. 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 -56.6% for VTI. 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CHI charges 1.83% per year while VTI 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 1.07% for VTI.
Holdings Overlap
CHI and VTI share 10 holdings out of 3288 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 VTI?
CHI has an expense ratio of 1.83% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $180 per year of difference.
Which performed better, CHI or VTI?
Over the past year CHI returned +40.35% vs +22.35% for VTI, so CHI leads on 1-year performance. Over the longest common window we track (24 years), CHI annualized +1.63% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, CHI or VTI?
CHI has been the more volatile fund at 19.6% annualized versus 15.3% for VTI. Worst drawdown: CHI -73.3% vs VTI -56.6%.
Should I hold both CHI and VTI?
CHI and VTI have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CHI and VTI?
CHI and VTI share 10 common holdings with a 0.6% weight overlap. Combined, they hold 3288 unique securities.
Which pays a higher dividend, CHI or VTI?
CHI yields 8.77% while VTI yields 1.07%, so CHI currently pays the higher dividend yield.
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