CCEF – Calamos CEF Income & Arbitrage ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks high current income and long-term capital appreciation. The fund is an actively managed exchange-traded fund ("ETF") that seeks high current income and long-term capital appreciation by investing in unaffiliated closed-end funds that the fund's investment adviser, Calamos Advisors LLC, believes offer both attractive income opportunities as well as arbitrage opportunities resulting from such closed-end funds trading at attractive discounts. Under normal circumstances, the fund seeks to achieve its investment objectives by investing at least 80% of its net assets in U.S. and non-U.S. closed-end funds. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
CCEF	Calamos CEF Income & Arbitrage ETF	ETF	Open	—	—	Jan 12, 2024	$34.16M	3.190%	—	—	$12.60M

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