CVRT — Calamos Convertible Equity Alternative ETF
Data updated: 2026-09-29
CVRT — Calamos Convertible Equity Alternative ETF. Short Preferred / Convertible Bond · $61.46M AUM. Holdings, fees, performance and SEC filings.
CVRT Fund Overview
CVRT — Calamos Convertible Equity Alternative ETF is a US ETF managed by Calamos ETF Trust, categorised as Short Preferred / Convertible Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Calamos ETF Trust
- Category: Short Preferred / Convertible Bond
- Assets under management: $61.46M
- 1-year return: 68.1%
- Ticker: CVRT
- SEC CIK: 0001579881
- SEC series ID: S000081270
- Share class ID: C000243953
CVRT Investment Objective and Strategy
Calamos Convertible Equity Alternative ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Calamos ETF Trust.
Investment objective
The Calamos Convertible Equity Alternative ETF's investment objective is total return through capital appreciation and current income.
Principal investment strategy
"The Fund is an actively managed exchange-traded fund (""ETF"") that invests in the segment of the U.S. convertibles marketplace that has a higher level of equity sensitivity. The Fund seeks to achieve its objective by investing at least 80% of its net assets (plus borrowings for investment purposes, if any) in a portfolio of convertible securities (including synthetic convertible instruments). The Fund's investment adviser is Calamos Advisors LLC (""Calamos Advisors"" or the ""Adviser""). The Adviser utilizes a quantitative and qualitative screening process that consists of a proprietary convertible model and fundamental inputs to identify securities that meet the criteria for inclusion in the portfolio and intends to rebalance the portfolio regularly to ensure that the desired exposures are maintained.
The Adviser will also make active adjustments to the portfolio based on fundamental analyses (such as an issuer's financial soundness, ability to make interest and dividend payments, earnings and cash flow forecast and quality of management), as well as certain portfolio-level characteristics, such as size of an issue (e.g., value of bonds outstanding), liquidity, trade execution, and exposure to macro-level investment themes. Convertible debt securities are exchangeable for equity securities of the issuer at a predetermined price, and typically offer greater appreciation potential than non-convertible debt securities. The convertible securities in which the Fund may invest consist of U.S. bonds, structured notes, debentures and preferred stocks, which may be converted or exchanged at a stated or determinable exchange ratio into underlying shares.
Structured notes are fixed-income debentures linked to equity. Convertible structured notes have the attributes of a convertible security, however, the investment bank that issued the convertible note assumes the credit risk associated with the investment, rather than the issuer of the underlying common stock into which the note is convertible. The bonds, structured notes and debentures may be rated investment grade or below investment grade or may not be rated, may be issued by corporations, governments or public international bodies and may be denominated in a variety of currencies and issued with either fixed or floating rates. Bonds rated below investment grade are commonly known as ""junk bonds."" Convertible securities may offer higher income than the shares into which they are convertible.
The Fund may be required to permit the issuer of a convertible security to redeem the security, convert it into the underlying shares or sell it to a third party. Convertible securities include debt obligations and preferred stock of the company issuing the security, which may be exchanged for a predetermined price (the conversion price), into the issuer's common stock. The Fund may invest up to 20% of its net assets in foreign securities. Foreign securities are securities issued by issuers that are organized under the laws of a foreign country or that have a substantial portion of their operations or assets in a foreign country or countries, or that derive a substantial portion of their revenue or profits from businesses, investments or sales outside of the United States. The Fund may also invest in foreign securities that are represented in the United States securities markets by American Depositary Receipts (""ADRs"") or similar depository arrangements.
The Fund's foreign securities can be denominated in U.S. dollars or in foreign currencies. Debt securities issued by a foreign government may not be supported by the ""full faith and credit"" of that government. Certain convertible debt securities include a ""put option"" which entitles the Fund to sell the security to the issuer before maturity at a stated price, which may represent a premium over the stated principal amount of the debt security. Conversely many convertible securities are issued with a ""call"" feature that allows the security's issuers to choose when to redeem the security. A synthetic convertible instrument is designed to simulate the economic characteristics of a convertible security through the combined features of a debt instrument and a security providing an option on an equity security.
The Fund may establish a synthetic convertible instrument by combining a fixed-income security (which may be either convertible or non-convertible) with the right to acquire an equity security. The fixed-income and equity option components may have different issuers, and either component may change at any time. The Fund is classified as ""non-diversified"" under the Investment Company Act of 1940 (the ""1940 Act""). As of September 30, 2025, the Fund had significant investments in information technology companies."
CVRT Holdings
Top 10 holdings of Calamos Convertible Equity Alternative ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| State Street Global Advisors | 5.29% |
| Western Digital Corp. | 3.50% |
| Boeing Co/the | 2.66% |
| Alphabet, Inc. | 2.51% |
| Alphabet, Inc. | 2.51% |
| Lumentum Holdings, Inc. | 1.71% |
| Oracle Corp. | 1.32% |
| Super Micro Computer, Inc. | 1.31% |
| Hp Enterprise Co. | 1.29% |
| Oracle Corp | 1.12% |
CVRT Portfolio Allocation
Asset-class allocation of Calamos Convertible Equity Alternative ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 33.7% |
| Equity | 21.7% |
| Cash & Equivalents | 5.3% |
CVRT Performance
Total returns for CVRT (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 27.2% |
| 1 year | 68.1% |
| 3 years (annualised) | 31.0% |
CVRT Risk Information
Risk metrics for CVRT, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.6%
CVRT Costs and Fees
CVRT costs about $69 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.69%
- Gross expense ratio: 0.69%
- Portfolio turnover: 150%
- Brokerage commissions: 0.11 bps of average net assets (SEC N-CEN)
CVRT Cashflows
Over the 12 months to 2026-04, Calamos Convertible Equity Alternative ETF had net inflows of $4.01M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $0 |
| 2026-03 | $0 |
| 2026-02 | −$2.18M |
| 2026-01 | $4.05M |
| 2025-12 | $1.89M |
| 2025-11 | $1.90M |
CVRT Debt Constituents
Largest debt holdings of Calamos Convertible Equity Alternative ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Western Digital Corp. | 3.50% |
| Lumentum Holdings, Inc. | 1.71% |
| Bloom Energy Corp. | 1.09% |
| Mks, Inc. | 0.99% |
| Akamai Technologies, Inc. | 0.86% |
| Snowflake, Inc. | 0.79% |
| Snowflake, Inc. | 0.75% |
| Cipher Digital, Inc. | 0.75% |
| Welltower Op LLC | 0.72% |
| Cyberark Software Ltd. | 0.71% |
CVRT Prospectus and SEC Filings
Official Calamos Convertible Equity Alternative ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-11-21
- Prospectus (485BPOS) — filed 2024-11-21
- Prospectus (485BPOS) — filed 2023-09-28
- Portfolio holdings (N-PORT) — filed 2026-09-29
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-31
- Annual census (N-CEN) — filed 2025-10-14
- Annual census, amended (N-CEN/A) — filed 2025-02-28
Related Funds
Other Short Preferred / Convertible Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.