Calamos Convertible and High Income Fund

CHY

Market cap $914M

Calamos Convertible & High Income Fund is upgraded to a Buy, now trading at a 3.18% discount to NAV versus its historical premium. CHY offers a 10.6% yield, prioritizing capital preservation and income reliability, making it suitable for investors seeking stability amid market uncertainty. The fund's diversified strategy blends convertible securities and income assets, but aggressive leverage (34.41%) poses risks in high-rate environments.

METRO CHICAGO, Ill. , Oct. 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in October 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

METRO CHICAGO, Illinois , Sept. 2, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in September 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

METRO CHICAGO, Ill. , Aug. 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in August 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

CHY offers an attractive 11% yield and monthly distributions, but recent performance has suffered due to high interest rates and inconsistent earnings. The fund's heavy use of leverage and significant exposure to below-investment-grade and unrated debt heighten risk, especially if rates remain elevated. CHY trades at a small premium to NAV, but its price has declined and capital appreciation potential is limited; total returns rely mainly on distributions.

METRO CHICAGO, Ill. , July 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in July 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

METRO CHICAGO, Ill. , June 2, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in June 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

The Calamos Convertible & High Income Fund offers a high yield of 11.73%, higher than domestic convertible and junk bond indices, appealing to income-oriented investors. Convertible bonds, less volatile than stocks, provide downside protection and upside potential, making them suitable for risk-averse investors, including retirees. The fund's recent underperformance is due to its high leverage and significant exposure to the underperforming technology sector, despite its overall potential for reduced volatility.

METRO CHICAGO, Ill. , May 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in May 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

METRO CHICAGO, Ill. , April 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in April 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.