CHY vs VTI
Calamos Convertible and High Income Fund vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. CHY delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | CHY | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.84% | 0.03% | |
| AUM | $1.6B | $666.9B | |
| Dividend Yield | 8.17% | 1.07% | |
| Holdings | 620 | 3,543 | |
| YTD Return | +21.39% | +13.14% | |
| 1Y Return | +33.90% | +22.35% | |
| 3Y Return (annualized) | +17.18% | +21.83% | |
| 5Y Return (annualized) | +5.84% | +12.01% | |
| Volatility (annualized) | 20.3% | 15.3% | |
| Max Drawdown | -66.9% | -56.6% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | May 28, 2003 | May 24, 2001 |
CHY vs VTI Performance
Calamos Convertible and High Income Fund (CHY) is a ETF from Calamos Investments and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year CHY returned +33.90% while VTI returned +22.35%. Year to date, CHY is up 21.39% versus a gain of 13.14% for VTI.
Over three years, CHY compounded at +17.18% per year against +21.83% for VTI; over five years the annualized figures are +5.84% and +12.01% respectively. Across the full 23-year window we track, VTI has the edge at +8.09% annualized vs +1.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHY has been the more volatile fund, with annualized monthly volatility of 20.3% 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 -66.9% for CHY 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CHY charges 1.84% per year while VTI 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 8.17% against 1.07% for VTI.
Holdings Overlap
CHY 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, CHY or VTI?
CHY has an expense ratio of 1.84% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $181 per year of difference.
Which performed better, CHY or VTI?
Over the past year CHY returned +33.90% vs +22.35% for VTI, so CHY leads on 1-year performance. Over the longest common window we track (23 years), CHY annualized +1.59% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, CHY or VTI?
CHY has been the more volatile fund at 20.3% annualized versus 15.3% for VTI. Worst drawdown: CHY -66.9% vs VTI -56.6%.
Should I hold both CHY and VTI?
CHY and VTI have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CHY and VTI?
CHY and VTI share 10 common holdings with a 0.6% weight overlap. Combined, they hold 3288 unique securities.
Which pays a higher dividend, CHY or VTI?
CHY yields 8.17% while VTI yields 1.07%, so CHY currently pays the higher dividend yield.
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