CCD: A Better Way To Play Bonds, Albeit A Pricey One

  • Calamos Dynamic Convertible and Income Fund offers strong real returns and high income, outperforming traditional fixed-income funds over the past decade. The fund's focus on convertible bonds enables both capital appreciation and income, with an attractive 11.06% yield and a reliable payout history. However, declining net asset value and a significant premium to NAV raise concerns about sustainability and current valuation versus peers.