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Upturn AI Summary
Calamos ETF Trust(CCEF)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for CCEF
10/02/2026: CCEF (1-star) is currently NOT-A-BUY. Pass it for now.
CCEF is an actively managed ETF that provides exposure to the closed-end fund (CEF) market by utilizing an arbitrage strategy to capitalize on discount/premium discrepancies. Its primary strength lies in Calamos' active management expertise, which aims to generate income and capital appreciation, making it a compelling option for yield-focused portfolios. However, investors should be mindful of its higher expense ratio and the inherent volatility of CEF discounts, which are susceptible to interest rate and credit market shifts. It is most suitable for investors who prioritize income and have a moderate-to-high risk tolerance for market-specific fluctuations. Key factors to monitor include the overall sector trend for CEF discounts and interest rate policies.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The focus on CEF arbitrage provides income more than aggressive capital appreciation. |
| Momentum investor | Strong fit while signal remains positive | Momentum investors may find value during periods when CEF discounts are closing across the sector. |
| Value investor | Strong fit | The strategy specifically seeks out mispriced assets trading at significant discounts to their net asset value. |
| Dividend/Income investor | Strong fit | CCEF is designed to capture the high income yields typically offered by closed-end funds. |
| Low-risk investor | Weak fit | The inherent volatility of CEF discounts and underlying holdings makes this less suitable for conservative portfolios. |
Investor Profile
Ideal Investor Profile
The ideal investor is an income-oriented individual or advisor seeking to capture value from CEF market inefficiencies.
Suitability
CCEF is best suited for long-term income-focused investors who understand the risks of CEF market valuations.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium / high | CEFs often exhibit higher volatility than the underlying assets they hold due to discount/premium fluctuations. |
| Market risk | Medium / high | The fund is exposed to the broad market conditions affecting the credit and equity sectors held by the underlying CEFs. |
| Concentration | Medium | The portfolio is concentrated in the CEF asset class, which may react differently than broad equity or bond markets. |
| Tracking/expense | Medium | Active management entails higher costs and the potential for performance to deviate from broad market CEF benchmarks. |
| Liquidity | Medium | The underlying CEFs can become illiquid during market downturns, affecting the fund's ability to execute its arbitrage strategy. |
| Business/sector quality | Medium | Performance relies on the quality of the CEF management teams and the underlying assets within those funds. |
Risk Analysis
Volatility
CCEF experiences higher volatility than broad bond ETFs due to the discount/premium fluctuations of closed-end funds.
Market Risk
The fund carries market risk derived from both the underlying asset classes (bonds, equities) held by the CEFs and the discount risk associated with CEF structures.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Investment factor | Closed-End Fund (CEF) Arbitrage Strategy | 95 | The fund primarily holds a diversified selection of closed-end funds selected for their potential valuation discounts and yield. |
| Cash/collateral | Cash and Cash Equivalents | 5 | A small portion of the portfolio is held in cash to provide liquidity for rebalancing and management of arbitrage positions. |
Price Behavior
Steady Uptrend
The stock demonstrates consistent and steady upward price momentum.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 14.74% | Avg. Invested days 64 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 10/02/2026 |
ETF Fundamentals 
Source: EOD Historical Data • Updated Oct 2, 2026
Fund Basics
| Metric | Value |
|---|---|
| Fund Size (AUM) | $34.63M |
| Issuer | Calamos |
| Expense Ratio | 2.74% |
| Distribution Yield | 6.82% |
| Inception | Jan 12, 2024 |
Performance
| Period | Total Return |
|---|---|
| YTD | +5.49% |
| 1 Year | +8.39% |
Risk Metrics
| Metric | Value |
|---|---|
| 1Y Volatility | 8.92% |
| 3Y Volatility | 0% |
| 3Y Sharpe Ratio | 0 |
Market Cap Distribution
| Cap Size | Weight |
|---|---|
| Mega Cap | 15.28% |
| Mid Cap | 13.53% |
| Large Cap | 12.37% |
| Small Cap | 3.21% |
| Micro Cap | 1.42% |
Top Sectors
| Sector | Weight |
|---|---|
| Financial Services | 31.21% |
| Energy | 17.50% |
| Technology | 17.27% |
| Industrials | 6.82% |
Asset Allocation
Portfolio Characteristics
| Metric | Value |
|---|---|
| Portfolio P/E | 17.42x |
| Portfolio P/B | 3.11x |
| Portfolio P/S | 2.29x |
| Holdings Turnover | 0.0% |
Top Holdings
| Holding | Weight |
|---|---|
| Eaton Vance Tax Managed Global Buy Write Opportunities Closed Fund | 4.20% |
| AllianzGI Equity & Convertible Income Closed Fund | 4.10% |
| Adams Natural Resources Closed Fund | 3.55% |
| BlackRock Health Sciences Trust II | 3.03% |
| Virtus AllianzGI Artificial Intell & Tech Opps | 2.77% |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
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