Investment objective & strategy
As of Feb. 26, 2026 · prospectusObjective. Calamos Evolving World Growth Fund's investment objective is long-term capital growth.
Strategy. The Fund anticipates that, under normal circumstances, the investment adviser's process will result in the Fund investing in a globally diversified manner, with at least 40% of its assets in securities of foreign issuers. Securities of foreign issuers are securities issued by issuers that are organized under the laws of a foreign country or that have a substantial portion of their operations or assets in a foreign country or countries, or that derive a substantial portion of their revenue or profits from businesses, investments or sales outside of the United States. The Fund may also invest in foreign securities that are represented in the United States securities markets by American Depositary Receipts ("ADRs") or similar depository arrangements. The Fund's foreign … The Fund anticipates that, under normal circumstances, the investment adviser's process will result in the Fund investing in a globally diversified manner, with at least 40% of its assets in securities of foreign issuers. Securities of foreign issuers are securities issued by issuers that are organized under the laws of a foreign country or that have a substantial portion of their operations or assets in a foreign country or countries, or that derive a substantial portion of their revenue or profits from businesses, investments or sales outside of the United States. The Fund may also invest in foreign securities that are represented in the United States securities markets by American Depositary Receipts ("ADRs") or similar depository arrangements. The Fund's foreign debt investments can be denominated in U.S. dollars or in foreign currencies. Debt securities issued by a foreign government may not be supported by the "full faith and credit" of that government. The Fund intends to invest at least 35% of its assets in equity, convertible or debt securities of issuers that are incorporated in emerging market countries. Under normal circumstances, the remaining assets will be invested primarily in (1) equity, convertible (including synthetic convertible) or debt securities of companies, regardless of where they are incorporated, if the Fund's investment adviser determines that a significant portion (generally, 20% or more) of the assets or revenues of each such company is attributable to emerging market countries and (2) sovereign and agency debt of non-emerging market countries. A synthetic convertible instrument is designed to simulate the economic characteristics of a convertible security through the combined features of a debt instrument, or loan, and a security providing an option on an equity security. The Fund may establish a synthetic convertible instrument by combining a fixed-income security with the right to acquire an equity security. The fixed-income and equity option components may have different issuers, and either component may change at any time. In pursuing its investment objective, the Fund seeks out securities that, in the investment adviser's opinion, offer the best opportunities for growth. The Fund's investment adviser typically considers the company's financial soundness, earnings and cash flow forecast and quality of management. The investment adviser takes environmental, social and governance ("ESG") factors into account in making investment decisions. The Fund may also invest in high yield securities and unrated securities of similar credit quality (commonly known as "junk bonds"). The Fund's investment adviser seeks to lower the risks of investing in stocks by using a "top-down approach" of diversification by company, industry, sector, country, and currency and focusing on macro-level investment themes.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $63.46M | 15.01% |
| SAMSUNG ELECTRONICS CO LTD | — | $25.30M | 5.98% |
| Alibaba Group Holding Ltd. | — | $18.37M | 4.34% |
| HYUNDAI MOTOR CO | — | $16.62M | 3.93% |
| State Street Navigator Securities Lending Government Money Market Portfolio | — | $16.25M | 3.84% |
| Goldman Sachs Finance Corp International Ltd | — | $15.56M | 3.68% |
| SK hynix Inc | — | $12.17M | 2.88% |
| HYOSUNG HEAVY IN | — | $9.41M | 2.23% |
| BIDU-SW | — | $8.20M | 1.94% |
| BABA-W | — | $7.94M | 1.88% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Lord Abbett Emerging Markets Equity Fund · EMWLX, EAMAX, EMILX, EMOLX, ELMFX, ELMCX | 39% | 0.87% |
| Matthews Emerging Markets Equity Fund · MEGMX, MIEFX | 38% | 0.90% |
| Fidelity Series Emerging Markets Fund · FHKFX | 37% | 0.01% |
Advisers
| Firm | Role |
|---|---|
| Calamos Advisors LLC | Adviser |
Footnotes
- Expense ratio as of February 26, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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