CAHEX Fees and Costs — Calamos Hedged Equity Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.15%: a 0.73% management fee, a 0.25% 12b-1 fee plus 0.17% other expenses. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2025 the fund paid $28K in broker commissions, 0.0038% of average net assets, and portfolio turnover was 10%.
CAHEX Fees and Expenses
Annual operating expenses and sales charges of CAHEX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.73% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.17% |
| Gross expense ratio | 1.15% |
| Fee waiver | — |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CAHEX Costs Over Time
On $10,000 invested in CAHEX, assuming 5% a year before costs, total costs come to $1,292 over 5 years, cutting the return by 2.22% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $475 | $475 | $475 |
| Fund expenses (net expense ratio 1.15%) | $115 | $358 | $620 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $24 | $93 | $194 |
| Total costs | $614 | $927 | $1,292 |
| Value after costs | $9,886 | $10,649 | $11,471 |
| Impact on return, per year | 6.14% | 2.88% | 2.22% |
CAHEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0038%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 10%
- Securities on loan, average value: $5.0M
- Net income from securities lending: $4K (0.001% of average net assets)
CAHEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $13K | 48.11% |
| J.P. Morgan Securities LLC | $8K | 28.61% |
| Morgan Stanley & Co. LLC | $2K | 6.11% |
| Goldman Sachs & Co. LLC | $2K | 5.55% |
| Jefferies LLC | $977 | 3.51% |
| O'Neil Securities, Incorporated | $933 | 3.35% |
| Raymond James & Associates, Inc. | $596 | 2.14% |
| William Blair & Company, L.L.C. | $575 | 2.07% |
| RBC Capital Markets, LLC | $147 | 0.53% |
| Kezar Trading, LLC | $4 | 0.01% |
Calamos Hedged Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CIHEX | Class I | 0.90% | none |
| CAHEX | Class A | 1.15% | 4.75% |
| CCHEX | Class C | 1.90% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.