Calamos Convertible ETF Jumps 68% in Past Year

The Calamos Convertible Equity Alternative ETF (CVRT) posted a 68.06% increase in net asset value for the 12 months ended April 30, 2026. The gain coincided with higher investor interest in alternative ETFs and convertible securities.

Calamos Investments manages CVRT as an actively managed fund that invests in U.S. convertible equities with the stated goals of capital appreciation and income. The fund uses a mix of quantitative screening and fundamental analysis to select holdings.

Portfolio construction incorporates a proprietary convertible model that seeks securities with specified equity sensitivity. The model and fundamental inputs are used together to balance potential equity upside with the defensive features of convertibles.

Calamos notes more than four decades of experience in convertible markets. Financial advisors and investors have used CVRT for different purposes, including diversifying equity exposure through convertibles or as a potential alternative to small- or mid-cap growth exposures.

The fund prospectus includes standard investor warnings. Past performance does not guarantee future results. CVRT is not a bank deposit and is not insured by the FDIC. The prospectus also notes that the fund is classified as non-diversified and has a limited operating history.

Principal risks described by the issuer include interest-rate sensitivity, where convertible values generally fall when rates rise; debt and credit risk, including default risk for holdings that carry debt; and equity-market volatility that can lower portfolio values. The fund also faces risks tied to high-yield and unrated securities, foreign securities exposure and related currency and political risks, and options-market liquidity constraints.

Other listed risks include higher portfolio turnover from active trading, authorized participant concentration that can affect creation and redemption of shares, different behavior of synthetic convertible instruments compared with traditional convertibles, and greater volatility associated with small- and mid-sized company holdings.

Prospective investors are directed to the fund prospectus and summary prospectus for full details on investment objectives, fees, and the complete list of risks before making an investment decision.