CSQ vs VYM
Calamos Strategic 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 | CSQ | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 2.03% | 0.04% | |
| AUM | $5.0B | $79.0B | |
| Dividend Yield | 5.90% | 2.86% | |
| Holdings | 816 | 568 | |
| YTD Return | +14.03% | +16.10% | |
| 1Y Return | +23.17% | +25.99% | |
| 3Y Return (annualized) | +21.16% | +18.29% | |
| 5Y Return (annualized) | +10.63% | +12.35% | |
| Volatility (annualized) | 20.3% | 14.6% | |
| Max Drawdown | -72.7% | -58.8% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Mar 26, 2004 | Nov 10, 2006 |
CSQ vs VYM Performance
Calamos Strategic Total Return Fund (CSQ) is a ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CSQ returned +23.17% while VYM returned +25.99%. Year to date, CSQ is up 14.03% versus a gain of 16.10% for VYM.
Over three years, CSQ compounded at +21.16% per year against +18.29% for VYM; over five years the annualized figures are +10.63% and +12.35% respectively. Across the full 20-year window we track, VYM has the edge at +7.08% annualized vs +3.44%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSQ has been the more volatile fund, with annualized monthly volatility of 20.3% 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 -72.7% for CSQ 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CSQ charges 2.03% per year while VYM charges 0.04%. On a $10,000 position that is $203 vs $4 annually, a gap of $199 per year that compounds over a long holding period. On income, CSQ currently yields 5.90% against 2.86% for VYM.
Holdings Overlap
CSQ and VYM share 112 holdings out of 898 unique holdings combined, representing a 23.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CSQ or VYM?
CSQ has an expense ratio of 2.03% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $199 per year of difference.
Which performed better, CSQ or VYM?
Over the past year CSQ returned +23.17% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), CSQ annualized +3.44% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, CSQ or VYM?
CSQ has been the more volatile fund at 20.3% annualized versus 14.6% for VYM. Worst drawdown: CSQ -72.7% vs VYM -58.8%.
Should I hold both CSQ and VYM?
CSQ and VYM have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CSQ and VYM?
CSQ and VYM share 112 common holdings with a 23.1% weight overlap. Combined, they hold 898 unique securities.
Which pays a higher dividend, CSQ or VYM?
CSQ yields 5.90% while VYM yields 2.86%, so CSQ currently pays the higher dividend yield.
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