ETF Report: Calamos Dynamic Convertible and Income Fund (CCD)

What this ETF is trying to do

The Calamos Dynamic Convertible and Income Fund, known by its ticker symbol CCD, is an ETF traded on the NASDAQ. This fund focuses on "convertible" securities and income. In simple terms, it looks for investments that can provide regular payments to investors while also participating in market growth.

What the numbers show

As of July 15, 2026, the current price of one share is $25.435. Looking back at the last year, the fund has seen significant growth. The one-year price return was 25.481%, and the total return (which includes both price changes and payouts) was 39.2508%.

To see how this works with real money, let's look at a simple example. Imagine you invested $10,000 into this ETF one year ago when the estimated price was about $20.27 per share. If you only looked at the price change, your $10,000 would have grown to roughly $12,548 based on the one-year price return.

Income and distribution explanation

Some investors look for ETFs that pay them regular money, which is called a "distribution." This ETF has a distribution yield of 9.1999%. Over the last 12 months, it made 12 total distributions, meaning it usually pays out monthly. The total amount distributed over the last year was $2.34 per share.

It is important to remember that a high yield alone can be misleading. A very high percentage might look good, but you must always check if the actual price of the ETF is staying healthy.

NAV erosion explanation

"NAV erosion" happens when an ETF's share price keeps dropping because it is paying out more money than it is actually earning. If a fund's price falls from a high amount to a much lower amount, it can destroy your "principal." Principal is the original money you put in. If the price collapses, you might get large payments, but your total account value could end up being much less than what you started with.

For this specific ETF, no price erosion was detected. The data shows an erosion score of 100, which is labeled as "good."

Pros

• The fund has shown strong total returns over the last year (39.2508%) and the last three years (66.2571%).

• It provides regular monthly income.

• The price has been increasing rather than falling.

Cons

• High-yield investments can sometimes be more volatile (change in price quickly) than other types of funds.

Beginner takeaway

Income investors usually prefer ETFs that go sideways (stay at the same price) or move slightly up. They prefer this over funds that "collapse" in price. This is because if the price drops too much, the loss in value can be bigger than the money you get from the monthly payments. In the case of CCD, the data shows the price has been growing alongside its distributions.