CMRAX Performance — Calamos Merger Arbitrage Fund, Class A
Data updated: 2026-09-29
CMRAX returned +2.68% year to date and +7.17% over one year to Jul 2026. Over one year the fund trailed its US Mid-Cap category average: $100 grew to $107, against $153 for the category. Volatility over the past 12 months was 3.16% a year. In the 12 months to Jul 2026 the fund took in a net $434K, and assets reached $2.56M.
CMRAX Growth of $100
What $100 invested in Calamos Merger Arbitrage Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap category average over the same months.
| Period | CMRAX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $107 | $153 |
| Since data start (Sep 2023 – Jul 2026) | $116 | $1799 |
CMRAX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.68% |
| 1 year | +7.17% |
3- and 5-year figures withheld: too few months to verify.
CMRAX Annual Returns
Calendar-year total returns of Calamos Merger Arbitrage Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +2.68% |
| 2025 | +10.51% |
| 2024 | −2.05% |
| 2023 (Sep–Dec) | +3.97% |
CMRAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | +0.7% | −1.3% | +1.5% | 0.0% | −0.1% | +1.1% | — | — | — | — | — |
| 2025 | +0.2% | +0.9% | −1.0% | −0.4% | +1.2% | +3.1% | +1.8% | +1.7% | +1.4% | 0.0% | −0.3% | +1.5% |
| 2024 | −4.9% | −0.3% | +0.8% | −2.2% | +0.7% | −0.2% | +2.8% | +0.3% | +1.0% | −1.7% | +2.1% | −0.2% |
| 2023 | — | — | — | — | — | — | — | — | 0.0% | −2.7% | +4.1% | +2.6% |
CMRAX Risk
Risk measures from monthly returns over Aug 2025 – Jul 2026.
- 1-year volatility (annualised): 3.16%
- Best month: +1.72% (Aug 2025)
- Worst month: −1.26% (Mar 2026)
CMRAX Fund Flows
Monthly money in and out of Calamos Merger Arbitrage Fund, from SEC Form N-PORT.
- 12-month net flow: $434K
- 12-month gross sales (incl. reinvestments): $1.0M
- Sales ÷ redemptions: 1.71×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $25 | $35K | −$35K |
| Jun 2026 | $7K | $0 | $7K |
| May 2026 | $99K | $10K | $89K |
| Apr 2026 | $38K | $5K | $33K |
| Mar 2026 | $23K | $278K | −$255K |
| Feb 2026 | $16K | $70K | −$54K |
| Jan 2026 | $0 | $5K | −$5K |
| Dec 2025 | $226K | $86K | $140K |
| Nov 2025 | $0 | $103K | −$103K |
| Oct 2025 | $33K | $23K | $10K |
| Sep 2025 | $168K | $0 | $168K |
| Aug 2025 | $439K | $5 | $439K |
CMRAX Assets Under Management
Net assets of Calamos Merger Arbitrage Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $2.56M |
| 2026-04-30 | $2.47M |
| 2026-01-31 | $2.73M |
| 2025-10-31 | $2.84M |
| 2025-07-31 | $2.14M |
| 2025-04-30 | $2.01M |
| 2025-01-31 | $2.12M |
| 2024-10-31 | $2.10M |
| 2024-07-31 | $2.13M |
| 2024-04-30 | $2.07M |
| 2024-01-31 | $2.10M |
| 2023-10-31 | $2.06M |
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.