CHW vs PAYR
Calamos Global Dynamic Income Fund vs Federated Hermes Enhanced Income ETF
Which is better, CHW or PAYR?
CHW has been ahead.
PAYR has a lower expense ratio. CHW led over 1Y and the full window.
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 | CHW | PAYR |
|---|---|---|
| Expense Ratio | 2.27% | 0.40%Best |
| AUM | $854M | $82M |
| Dividend Yield | 2.18% | 8.32% |
| Holdings | 775 | 55 |
| YTD Return | +12.41%Best | +6.04% |
| 1Y Return | +12.15%Best | +9.06% |
| 3Y Return (annualized) | +23.60% | - |
| 5Y Return (annualized) | +4.95% | - |
| Volatility (annualized) | 25.3% | 12.7%Best |
| Max Drawdown | -15.9% | -8.8%Best |
| $10,000 over 1 years | $11,082Best | $10,927 |
| Fund Family | Calamos Investments | Federated Hermes Funds |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Jun 27, 2007 | Oct 7, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Oct 8, 2025 to Oct 14, 2026 (1 years).
CHW vs PAYR 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 1 years both funds cover.
CHW vs PAYR Performance
Calamos Global Dynamic Income Fund (CHW) is an ETF from Calamos Investments and Federated Hermes Enhanced Income ETF (PAYR) is an ETF from Federated Hermes Funds. Over the past year CHW returned +12.15% while PAYR returned +9.06%. Year to date, CHW is up 12.41% versus a gain of 6.04% for PAYR.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHW has been the more volatile fund, with annualized monthly volatility of 25.3% compared with 12.7% for PAYR. 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 -15.9% for CHW and -8.8% for PAYR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.20. They move largely independently of each other.
Fees and Cost Over Time
CHW charges 2.27% per year while PAYR charges 0.40%. On a $10,000 position that is $227 vs $40 annually, a gap of $187 per year that compounds over a long holding period. On income, CHW currently yields 2.18% against 8.32% for PAYR.
Holdings Overlap
We hold position weights for 498 holdings in CHW and 46 in PAYR, totalling 87.9% and 91.8% 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, 6 positions appear in both.
The two holdings books were reported 244 days apart, CHW as of Jan 31, 2026 and PAYR as of Oct 2, 2026, so some of the difference between them is the time between the two reports rather than the funds.
6 positions in common, counted across the 498 positions we hold weights for in CHW and 46 in PAYR, against full books of 775 and 55.
You are not choosing between two funds in isolation.
Whichever of CHW and PAYR 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, CHW or PAYR?
CHW has an expense ratio of 2.27% while PAYR charges 0.40%. PAYR is the cheaper option, by $187 a year on a $10,000 investment.
Which performed better, CHW or PAYR?
Over the past year CHW returned +12.15% vs +9.06% for PAYR, so CHW leads on 1-year performance. Over the longest common window we track (1 years), CHW annualized +10.82% vs +9.27% for PAYR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CHW or PAYR?
CHW has been the more volatile fund at 25.3% annualized versus 12.7% for PAYR. Worst drawdown: CHW -15.9% vs PAYR -8.8%.
Should I hold both CHW and PAYR?
CHW and PAYR have a monthly-return correlation of 0.20, 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, CHW or PAYR?
CHW yields 2.18% while PAYR yields 8.32%, so PAYR currently pays the higher dividend yield.
Is PAYR better than CHW?
PAYR has a lower expense ratio. CHW led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.