Two of the market's most popular income ETFs compared side-by-side. See which one fits your yield strategy.
What this means: Both CCEF and CSWC fall intoTier 3: Specialty. This suggests they share a similar risk profile and volatility expectation.
| Metric | CCEF | CSWC |
|---|---|---|
| Total Return (1Y) | 11.95% | 12.17% |
| NAV Change (1Y) | 3.95% | -0.60% |
| Max Drawdown | -17.17% | -24.44% |
| Beta | - | - |
* Returns include dividend reinvestment. Drawdown calculates peak-to-trough decline over trailing 12 months.
CCEF (Calamos CEF Income & Arbitrage ETF) is a sector-specific income fund managed by Calamos. It focuses on generating income through strategic holdings. With $31.8M in assets under management, this fund has been operational since its inception.
Strategy: Concentrates on sector-specific opportunities, typically REITs, MLPs, or BDCs with higher baseline yields.
CSWC (Capital Southwest) is a sector-specific income fund managed by institutional managers. It focuses on generating income through strategic holdings. With significant capital, this fund has been operational since its inception.
Strategy: Concentrates on sector-specific opportunities, typically REITs, MLPs, or BDCs with higher baseline yields.
In the head-to-head battle of CCEF vs CSWC, the choice depends on your specific goal. CSWC wins for Immediate Income with a 12.77% yield. However, CSWC is the better choice for Long-Term Growth due to superior total return performance.
Which fund is safer for retirement income? We analyze the yield sustainability and structural risk.
The Bottom Line Question: If you invest $100,000 today, how much cash will you actually receive each month? Here's the exact math:
CCEF
Annual Yield: 8.00%
$667/mo
($7,999/year)
Frequency: monthly
CSWC
Annual Yield: 12.77%
$1,064/mo
($12,767/year)
Frequency: monthly
Income Gap: CSWC generates $4,768/year more than CCEF on the same $100k investment.
Over 20 years, that's $95,368 in additional cash flow (before reinvestment).
Context Matters: Higher income doesn't always mean better investment. Review the "Yield Trap" and "Total Return" sections above—you want income that's sustainable, not just headline-grabbing.
Historical data reveals how these funds behave during market stress. CSWC has delivered a superior Total Return of 12.17% over the past year.
What is Max Drawdown? Max drawdown measures the largest peak-to-trough decline in portfolio value during a specific period. Unlike NAV change (which only looks at start vs. end), max drawdown captures the worst moment of pain an investor experienced.
Real-World Scenario: $100,000 Investment
CCEF (More Resilient)
Max Drawdown: -17.17%
-$17,170
Worst unrealized loss
CSWC (More Volatile)
Max Drawdown: -24.44%
-$24,440
Worst unrealized loss
Protection Value: CCEF saved investors $7,270 in drawdown severity on a $100k position.
Why This Matters More Than Total Return: During bear markets or corrections, investors with lower max drawdown are:
⚖️ Capital Preservation Winner: CCEF demonstrated superior downside protection, making it the better choice for retirees who cannot afford steep temporary losses.
Every investor has a unique risk profile. Use our Portfolio Intelligence tool to see the impact of adding these ETFs to your holdings.