CVAAX Fees and Costs — Calamos Select Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.15%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses, less a 0.37% fee waiver. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2025 the fund paid $8K in broker commissions, 0.0136% of average net assets, and portfolio turnover was 46%.
CVAAX Fees and Expenses
Annual operating expenses and sales charges of CVAAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.52% |
| Fee waiver | −0.37% |
| 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 | Yes |
| Waived fees subject to recoupment | No |
CVAAX Costs Over Time
On $10,000 invested in CVAAX, assuming 5% a year before costs, total costs come to $1,297 over 5 years, cutting the return by 2.23% 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) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $24 | $93 | $195 |
| Total costs | $615 | $930 | $1,297 |
| Value after costs | $9,885 | $10,646 | $11,466 |
| Impact on return, per year | 6.15% | 2.89% | 2.23% |
CVAAX 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): 0.0136%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $304K
- Net income from securities lending: $133 (0.000% of average net assets)
CVAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $2K | 30.92% |
| Jefferies LLC | $2K | 24.21% |
| J.P. Morgan Securities LLC | $1K | 16.31% |
| Goldman Sachs & Co. LLC | $648 | 8.21% |
| RBC Capital Markets, LLC | $540 | 6.84% |
| O'Neil Securities, Incorporated | $380 | 4.82% |
| Academy Securities, Inc. | $367 | 4.65% |
| Barclays Capital Inc. | $136 | 1.72% |
| Virtu Americas LLC | $135 | 1.71% |
| Raymond James & Associates, Inc. | $49 | 0.62% |
Calamos Select Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CVAIX | Class I | 0.90% | none |
| CVAAX | Class A | 1.15% | 4.75% |
| CVACX | 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.