CVSIX Fees and Costs — Calamos Market Neutral Income Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.26%. This share class carries a maximum front-end sales load of 2.75%. In fiscal 2025 the fund paid $3.2M in broker commissions, 0.0199% of average net assets, and portfolio turnover was 43%.
CVSIX Fees and Expenses
Annual operating expenses and sales charges of CVSIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.15% |
| Gross expense ratio | 1.26% |
| Fee waiver | — |
| Net expense ratio | 1.26% |
| Sales charges | |
|---|---|
| Max front load | 2.75% |
| 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 |
CVSIX Costs Over Time
On $10,000 invested in CVSIX, assuming 5% a year before costs, total costs come to $1,125 over 5 years, cutting the return by 1.92% 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 | $275 | $275 | $275 |
| Fund expenses (net expense ratio 1.26%) | $129 | $400 | $692 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $14 | $64 | $147 |
| Total costs | $419 | $745 | $1,125 |
| Value after costs | $10,081 | $10,831 | $11,638 |
| Impact on return, per year | 4.19% | 2.30% | 1.92% |
CVSIX 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): 0.0199%
- Total broker commissions: $3.2M
- Bought from dealers (principal trades, not a cost): $7.6B
- Portfolio turnover (prospectus): 43%
- Securities on loan, average value: $312.5M
- Net income from securities lending: $426K (0.003% of average net assets)
CVSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.0M | 36.26% |
| Jefferies LLC | $456K | 15.78% |
| Morgan Stanley & Co. LLC | $347K | 12.02% |
| J.P. Morgan Securities LLC | $308K | 10.68% |
| Mizuho Securities USA LLC | $213K | 7.38% |
| Wells Fargo Securities, LLC | $137K | 4.75% |
| Goldman Sachs & Co. LLC | $134K | 4.63% |
| BNY Capital Markets, LLC | $105K | 3.63% |
| RBC Capital Markets, LLC | $95K | 3.30% |
| UBS Securities LLC | $46K | 1.58% |
CVSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.4B | 35.22% |
| Goldman Sachs & Co. LLC | $1.1B | 16.63% |
| Morgan Stanley & Co. LLC | $966.5M | 14.13% |
| Barclays Capital Inc. | $602.0M | 8.80% |
| Nomura Securities International, Inc. | $521.2M | 7.62% |
| Citigroup Global Markets Inc. | $357.2M | 5.22% |
| BofA Securities, Inc. | $324.8M | 4.75% |
| UBS Securities LLC | $190.7M | 2.79% |
| Cowen and Company, LLC | $188.5M | 2.76% |
| Jefferies LLC | $142.5M | 2.08% |
Calamos Market Neutral Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CVSOX | Class R6 | 0.92% | none |
| CMNIX | Class I | 1.01% | none |
| CVSIX | Class A | 1.26% | 2.75% |
| CVSCX | Class C | 2.01% | 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.