Calamos Enters Active ETF Space With Hedged Equity Strategy

The new fund marks a strategic shift for Calamos, which has managed hedged equity portfolios for over a decade. By moving away from rigid, systematic rolling hedge structures, the firm intends to offer investors a more consistent return profile that adapts to real-time market volatility. President and CEO John Koudounis emphasized that this launch leverages nearly 50 years of company expertise in derivatives, translating a strategy previously reserved for mutual fund investors into the more tax-efficient ETF structure.

Management of the fund is led by a team of six, including Co-CIO Eli Pars and Senior Portfolio Manager Jason Hill, who collectively oversee more than $25 billion in assets. Unlike passive alternatives that may struggle with inconsistent exposure during short-term market turbulence, CHDG employs continuous portfolio monitoring. With an expense ratio of 0.66%, the fund will trade on the CBOE, utilizing FLEX options on the SPDR Portfolio S&P 500 ETF to manage downside risk without sacrificing long-term growth potential.