Calamos CEF Income & Arbitrage ETF (CCEF) holdings & weights
Per-holding contribution · concentration · sector skew — a deep read
Fund overview
This is a US-listed ETF from Calamos. Key facts — expense ratio 3.19%; net assets about $34M; inception Jan 16, 2024. Its 1-year return is +7.3%.
Fund details
Fund overview
This is a US-listed ETF from Calamos. Key facts — expense ratio 3.19%; net assets about $34M; inception Jan 16, 2024. Its 1-year return is +7.3%.
23 identified stocks · net exposure / NAV 59.74%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
Weight and calculation basis
23 identified stocks · net exposure / NAV 59.74%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
We have this ETF's holdings, but the prices for those particular listings are outside our quote coverage (currently Korea- and US-listed securities). So today's contribution and return are not computed — showing 0% would claim it did not move, which is a different statement. The holdings and weights below follow the calculation basis above.
Today's summary
Its top 10 holdings make up about 54.2% of the fund. The concentration index (HHI) is 467 — Low — evenly diversified, and the largest sector is Financials (100%). The higher the concentration, the more one stock or sector drives the whole ETF's return.
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (467), so no single holding dominates.
Financials alone is 100%. This is effectively a bet on that one industry — if the sector falls, diversification will not help.
3.19% a year is on the high side — about 31.9% over a decade, so it needs a reason to earn that.
Net assets of $34M are small. Thin funds trade at wider spreads, and very small ones get closed or merged.
A plain 1x physical fund holding the shares themselves — no structural drift from how long you hold it.
Concentration and diversification
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (467), so no single holding dominates.
Financials alone is 100%. This is effectively a bet on that one industry — if the sector falls, diversification will not help.
3.19% a year is on the high side — about 31.9% over a decade, so it needs a reason to earn that.
Net assets of $34M are small. Thin funds trade at wider spreads, and very small ones get closed or merged.
A plain 1x physical fund holding the shares themselves — no structural drift from how long you hold it.
Top 20 holdings
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
Normalized to 100% of analysed positions
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
| # | Holding | Weight |
|---|---|---|
| 1 | Eaton Vance Tax-Managed Global Buy-Write Opportunities FundETW | 7.03% |
| 2 | Virtus Equity & Convertible Income FundNIE | 6.58% |
| 3 | BlackRock Health Sciences Term TrustBMEZ | 6.16% |
| 4 | Adams Natural Resources FundPEO | 6.11% |
| 5 | BlackRock Enhanced International Dividend TrustBGY | 5.07% |
| 6 | John Hancock Premium Dividend FundPDT | 4.90% |
| 7 | ClearBridge Energy Midstream Opportunity FundEMO | 4.74% |
| 8 | Virtus Artificial Intelligence & Technology Opportunities FundAIO | 4.64% |
| 9 | Nuveen Multi-Asset Income FundNMAI | 4.52% |
| 10 | Templeton Emerging Markets FundEMF | 4.47% |
| 11 | Nuveen S&P 500 Dynamic Overwrite FundSPXX | 4.39% |
| 12 | LMP Capital and Income FundSCD | 4.29% |
| 13 | Morgan Stanley Emerging Markets Debt FundMSD | 4.20% |
| 14 | Neuberger Berman Income Funds - Neuberger Real Estate Securities Income FundNRO | 3.93% |
| 15 | FS Credit OpportunitiesFSCO | 3.55% |
| 16 | BlackRock Enhanced Equity Dividend TrustBDJ | 3.40% |
| 17 | Eaton Vance Tax-Managed Diversified Equity Income FundETY | 3.30% |
| 18 | Royce Small-Cap TrustRVT | 3.28% |
| 19 | Allspring Multi-Sector Income FundERC | 3.26% |
| 20 | Flaherty & Crumrine Preferred Securities Income FundFFC | 3.23% |
Holdings below 0.5% or outside the top list are folded into “Others” and omitted above.
Where the weight sits — sector mix
Listed equity weights summed by sector and normalized to 100%. Each band is one sector's share.
Industry breakdown
HHI sums the squared weights. The more it leans on a few names, the higher it goes — and the more the whole ETF moves with them.
How concentrated is it
Concentration (HHI) is low at 467, with the top 10 holdings at just 54.2% of equity weight. No single name can dominate the fund.
Good for damping single-stock risk — and equally, a big winner inside gets diluted.
HHI squares each weight and sums them: 10,000 means one stock is everything, and the more evenly spread the holdings, the closer it falls to zero.
Where the sector weight sits
By sector, Financials alone is 100% — whatever the fund is called, this is a bet on that industry.
Bad news for the sector moves the whole fund. Worth checking against anything else you hold in the same space.
Weights above sum the individually listed equities and normalize that equity total to 100%.
How much it overlaps others
Even its closest peer, CEFZ, overlaps only 9% (3 shared names).
Funds filed under the same label can hold quite different companies, so pairing this one with another may genuinely spread risk.
What it is made of
The fund holds 57 positions in total; this page lists the largest 23 and folds the rest into "Others".
Equities are 59.7% of the fund, the rest swaps and cash — index exposure built synthetically rather than by owning the shares, which adds counterparty risk.
The expense ratio is 3.19% a year, which is not cheap. Fees come out of returns every year you hold, so it is worth checking whether the same index is available for less.
This page is not investment advice. Investment decisions and responsibility are your own.
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