CGO vs INCM
Calamos Global Total Return Fund vs Franklin Income Focus ETF
Which is better, CGO or INCM?
Each has led over a different period.
INCM has a lower expense ratio. CGO led over 3Y and the full window, INCM over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CGO | INCM |
|---|---|---|
| Expense Ratio | 2.30% | 0.38%Best |
| AUM | $201M | $1.9B |
| Dividend Yield | 2.27% | 5.40% |
| Holdings | 714 | 396 |
| YTD Return | +10.30%Best | +6.40% |
| 1Y Return | +7.39% | +9.34%Best |
| 3Y Return (annualized) | +21.82%Best | +11.90% |
| 5Y Return (annualized) | +4.24% | - |
| Volatility (annualized) | 19.4% | 7.3%Best |
| Max Drawdown | -26.7% | -7.8%Best |
| $10,000 over 3.4 years | $17,439Best | $13,759 |
| Fund Family | Calamos Investments | Franklin Templeton Investments (US) |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Oct 27, 2005 | Jun 6, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: Jun 8, 2023 to Oct 14, 2026 (3.4 years).
CGO vs INCM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.4 years both funds cover.
CGO vs INCM Performance
Calamos Global Total Return Fund (CGO) is an ETF from Calamos Investments and Franklin Income Focus ETF (INCM) is an ETF from Franklin Templeton Investments (US). Over the past year CGO returned +7.39% while INCM returned +9.34%. Year to date, CGO is up 10.30% versus a gain of 6.40% for INCM.
Over three years, CGO compounded at +21.82% per year against +11.90% for INCM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGO has been the more volatile fund, with annualized monthly volatility of 19.4% compared with 7.3% for INCM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.7% for CGO and -7.8% for INCM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CGO charges 2.30% per year while INCM charges 0.38%. On a $10,000 position that is $230 vs $38 annually, a gap of $192 per year that compounds over a long holding period. On income, CGO currently yields 2.27% against 5.40% for INCM.
Holdings Overlap
We hold position weights for 492 holdings in CGO and 266 in INCM, totalling 87.9% and 57.7% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 16 positions appear in both.
The two holdings books were reported 243 days apart, CGO as of Jan 31, 2026 and INCM as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
16 positions in common, counted across the 492 positions we hold weights for in CGO and 266 in INCM, against full books of 714 and 396.
Top Shared Holdings
| Stock | Weight in CGO | Weight in INCM | Difference |
|---|---|---|---|
| CVXChevron Corp | 0.85% | 1.43% | 0.58% |
| DUKDuke Energy Corp | 0.57% | 1.10% | 0.53% |
| SOSouthern Co. | 0.58% | 0.98% | 0.40% |
| AMZNAmazon.Com Inc | 1.16% | 0.18% | 0.98% |
| PMPhilip Morris International Inc. | 0.58% | 0.76% | 0.18% |
| MSFTMicrosoft Corp | 0.94% | 0.22% | 0.72% |
| JNJJohnson & Johnson - Common | 0.61% | 0.52% | 0.09% |
| INTCIntel Corporation | 0.47% | 0.50% | 0.03% |
| WFCWells Fargo & Co. | 0.61% | 0.24% | 0.37% |
| CCitigroup Inc 6.875 11/73 6.88 2173-11-15 | 0.50% | 0.14% | 0.36% |
You are not choosing between two funds in isolation.
Whichever of CGO and INCM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CGO or INCM?
CGO has an expense ratio of 2.30% while INCM charges 0.38%. INCM is the cheaper option, by $192 a year on a $10,000 investment.
Which performed better, CGO or INCM?
Over the past year CGO returned +7.39% vs +9.34% for INCM, so INCM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGO or INCM?
CGO has been the more volatile fund at 19.4% annualized versus 7.3% for INCM. Worst drawdown: CGO -26.7% vs INCM -7.8%.
Should I hold both CGO and INCM?
CGO and INCM have a monthly-return correlation of 0.61, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CGO or INCM?
CGO yields 2.27% while INCM yields 5.40%, so INCM currently pays the higher dividend yield.
Is INCM better than CGO?
INCM has a lower expense ratio. CGO led over 3Y and the full window, INCM over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.