Summary
CHY Chart
CHY: Some AI Exposure And A Better Fund Than Most Bond Funds
The Calamos Convertible & High Income Fund (CHY) offers a 9.35% yield, blending convertible bonds and high-yield corporates for both income and capital appreciation. CHY's portfolio is heavily weighted toward convertible bonds (69.09%), providing inflation protection and diversification away from the 'Magnificent 7' tech stocks. CHY consistently covers its distribution through realized gains and leverage, supporting its high yield and monthly payout reliability.
The Market's All-Terrain Vehicle: A Deep Dive Into Convertible CEFs
Convertible bonds offer built-in flexibility, combining bond income with equity upside and historically delivering asymmetric returns—participating in rallies while helping cushion drawdowns. Actively managed, levered convertible CEFs offer a high-income way to participate in this market, with Calamos demonstrating a strong track record of navigating convertibles and delivering competitive returns. Among the US-focused Calamos funds (CCD, CHY, & CHI), CCD provides the highest (~85%) convertible exposure and equity optionality, while CHY and CHI offer more credit-tilted.
CHY: Well-Supported 10% Dividend Yield
CHY: Well-Supported 10% Dividend Yield
Calamos Convertible and High Income Fund Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TMB Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 2,100 | $29,610 | $28,518 | -$1,092 | -3.69% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 8,917 | $98,456.13 | $120,379.5 | $21,923.37 | 22.27% |
 Jeff Ameen Spire Wealth Management | 12,462 | $164,324.54 | $168,486.24 | $4,161.7 | 2.53% |
| TJ Taylor Jobe MKT Advisors LLC | 23,113 | $349,985.89 | $312,950.02 | -$37,035.87 | -10.58% |
 Courtney Lawson Autumn Glory Partners LLC | 30,000 | $339,300 | $404,100 | $64,800 | 19.1% |
Calamos Convertible and High Income Fund (CHY) FAQ
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Calamos Convertible and High Income Fund Profile
| NASDAQ (NMS) Exchange | US Country |
Overview
The Calamos Convertible and High Income Fund is a multifaceted financial instrument created to offer investors a hybrid of current income and capital appreciation. This closed-end fund strategically deploys its investments across convertible securities and high-yield bonds, aiming to leverage the composite benefits of fixed income and potential equity growth. Convertible securities endow the fund with a peculiar flexibility, permitting conversion into a pre-agreed number of common shares, thereby tapping into the equity markets' upside while maintaining a foothold in the relative safety and steady income stream of bonds. Additionally, the inclusion of high-yield bonds, despite their increased risk level, serves to elevate the income generated, setting this fund apart as a distinctive choice for investors inclined towards diversified income avenues alongside capital growth opportunities.
Products and Services
- Convertible Securities:
- High-Yield Bonds:
Convertible securities are a cornerstone of the Calamos Convertible and High Income Fund's investment strategy. By offering the potential for conversion into equity, these instruments provide a pathway to participate in stock market gains without relinquishing the inherent benefits of bonds. This dual nature enhances the fund's adaptability, allowing it to pivot between the security of fixed-income investments and the growth potential of equities based on market conditions.
Another critical component of the fund's portfolio is its commitment to high-yield bonds. These instruments, often characterized as "junk bonds," are selected to augment the fund’s income potential due to their higher interest payments relative to investment-grade bonds. While they introduce a greater level of risk, the inclusion of high-yield bonds is justified by the potential for increased returns, making the fund an attractive option for investors seeking higher income streams in conjunction with capital appreciation prospects.
