Calamos Convertible Opportunities And Income Fund Q4 2025 Commentary

Calamos Investments560 FollowersFollow5ShareSavePlay(13min)CommentsSummaryThe US Convertible market advanced 1.97% in the fourth quarter as measured by the ICE BofA All US Convertible Index, capping off a strong 2025 calendar year.Global convertible issuance year-to-date total reached $166.5 billion—with $118.8 billion raised in the US, marking the highest annual US convertible issuance on record.For the quarter ending December 31, 2025, the fund rose 1.54% on price and 2.03% on NAV.As of quarter end, convertible securities account for approximately 70% of the portfolio, while corporate bonds comprise around 23% of the portfolio.The convertible market enters 2026 with considerable momentum, finishing 2025 as one of the strongest-performing asset classes across the capital markets. YurolaitsAlbert/iStock via Getty Images Market Overview The US Convertible market advanced 1.97% in the fourth quarter as measured by the ICE BofA All US Convertible Index, capping off a strong 2025 calendar year (+17.98%). During the quarter, convertibles captured most of the equity market'sThis article was written byCalamos Investments560 FollowersFollowCalamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco. For more information, please visit www.calamos.com.