Understanding the Calamos Global Dynamic Income Fund (CHW)

What this ETF is trying to do

The Calamos Global Dynamic Income Fund, known by its ticker symbol CHW, is an Exchange Traded Fund (ETF). This type of fund is designed to provide income to its investors. It trades on the NASDAQ exchange.

What the numbers show

As of July 15, 2026, the current price of one share is $8.75. Looking back at the past year, the price has grown significantly. About 12 months ago, the estimated price was roughly $7.09.

The fund has shown strong growth recently:

• Year-to-Date (YTD) Total Return: 22.565%

• One-Year Total Return: 33.3636%

• Three-Year Total Return: 84.5285%

To see how price changes affect money, imagine you invested $10,000 into this fund one year ago when the price was about $7.10. If the price rose to the current $8.75 without counting any extra payments, your $10,000 would have grown to approximately $12,324 based on the price change alone.

Income and distribution explanation

Some investors look for ETFs that pay them regular cash. This is called a "distribution." CHW has a distribution yield of 6.9714%. Over the last 12 months, it paid out a total of $0.61 per share. These payments usually happen every month, and there were 12 payments in the last year.

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

NAV erosion explanation

"NAV erosion" is a term used when the value of the fund's underlying assets drops because the fund is paying out more money than it is actually earning. If an ETF's share price falls from a high number to a much lower number over time, it can destroy your "principal." Principal is the original amount of money you put in. When the price collapses, even if you get monthly payments, you might end up with much less total money than you started with.

In the case of CHW, no price erosion was detected. The data shows a "good" erosion score, meaning the price has been rising rather than falling.

Pros

• The fund has shown very high total returns over one, three, and year-to-date periods.

• It provides regular monthly income.

• The share price has increased significantly over the last year.

Cons

• Investors must monitor if the high yield is sustainable.

• Like all ETFs, the value can change based on market movements.

Beginner takeaway

Income investors usually prefer ETFs that go sideways (stay at the same price) or move slightly up. They prefer this because it means their original investment stays safe while they collect the cash payments. When an ETF's price collapses, the income might not be enough to make up for the lost money. For CHW, the data shows the price has been moving up along with the income.