CHY vs VOO
Calamos Convertible and High Income Fund vs Vanguard S&P 500 ETF
Which is better, CHY or VOO?
Convertibles against Large Cap Blend.
VOO has a lower expense ratio. CHY led over 1Y, VOO over 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CHY | VOO |
|---|---|---|
| Expense Ratio | 1.84% | 0.03%Best |
| AUM | $1.5B | $997.4B |
| Dividend Yield | 3.97% | 1.04% |
| Holdings | 620 | 509 |
| YTD Return | +17.06%Best | +11.55% |
| 1Y Return | +24.60%Best | +17.54% |
| 3Y Return (annualized) | +13.74% | +20.71%Best |
| 5Y Return (annualized) | +4.77% | +12.80%Best |
| Volatility (annualized) | 19.4% | 14.1%Best |
| Max Drawdown | -60.1% | -34.3%Best |
| $10,000 over 5 years | $12,624 | $18,262Best |
| Fund Family | Calamos Investments | Vanguard (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Blend |
| Inception | May 28, 2003 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 10, 2026 (16 years).
CHY vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
CHY vs VOO Performance
Calamos Convertible and High Income Fund (CHY) is an ETF from Calamos Investments and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CHY returned +24.60% while VOO returned +17.54%. Year to date, CHY is up 17.06% versus a gain of 11.55% for VOO.
Over three years, CHY compounded at +13.74% per year against +20.71% for VOO; over five years the annualized figures are +4.77% and +12.80% respectively. Across the full 16-year window we track, VOO has the edge at +13.35% annualized vs +3.58%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHY has been the more volatile fund, with annualized monthly volatility of 19.4% 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 -60.1% for CHY and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CHY charges 1.84% per year while VOO charges 0.03%. On a $10,000 position that is $184 vs $3 annually, a gap of $181 per year that compounds over a long holding period. On income, CHY currently yields 3.97% against 1.04% for VOO.
Holdings Overlap
At least 1.0% of VOO's money is in holdings CHY also owns.
Only one direction is shown: for CHY, our book for it lists positions totalling 120.2% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
VOO and CHY share little of their money.
The two holdings books were reported 242 days apart, CHY as of Oct 31, 2025 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
7 positions in common, counted across the 512 positions we hold weights for in CHY and 505 in VOO, against full books of 620 and 509.
Top Shared Holdings
| Stock | Weight in CHY | Weight in VOO | Difference |
|---|---|---|---|
| NEENextera Energy Inc. | 0.96% | 0.28% | 0.68% |
| KKRKkr & Co. Inc. Class a | 0.86% | 0.10% | 0.76% |
| ARESAres Management Corp Common Stock | 0.89% | 0.04% | 0.85% |
| MCHPMicrochip Technology Inc. | 0.79% | 0.08% | 0.71% |
| ALBAlbemarle Corp. | 0.67% | 0.02% | 0.65% |
| CCitigroup Inc. | 0.06% | 0.36% | 0.30% |
| TMUST-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558 | 0.02% | 0.12% | 0.10% |
You are not choosing between two funds in isolation.
Whichever of CHY and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CHY or VOO?
CHY has an expense ratio of 1.84% while VOO charges 0.03%. VOO is the cheaper option, by $181 a year on a $10,000 investment.
Which performed better, CHY or VOO?
Over the past year CHY returned +24.60% vs +17.54% for VOO, so CHY leads on 1-year performance. Over the longest common window we track (16 years), CHY annualized +3.58% vs +13.35% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CHY or VOO?
CHY has been the more volatile fund at 19.4% annualized versus 14.1% for VOO. Worst drawdown: CHY -60.1% vs VOO -34.3%.
Should I hold both CHY and VOO?
CHY and VOO have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CHY and VOO?
At least 1.0% of VOO's money is in holdings CHY also owns. Our book for CHY is partial, so the real figure is this or higher. They hold 7 positions in common, counted across the 512 positions we hold weights for in CHY and 505 in VOO.
Which pays a higher dividend, CHY or VOO?
CHY yields 3.97% while VOO yields 1.04%, so CHY currently pays the higher dividend yield.
Is VOO better than CHY?
VOO has a lower expense ratio. CHY led over 1Y, VOO over 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.