CHW vs MMU

Comparison between Calamos Global Dynamic Income Fund (CHW, ETF) and Western Asset Managed Municipals Fund Inc (MMU, ETF).

5-Year PerformanceCHW has outperformed MMU, delivering a return of +5.1% compared to -0.6%

CHW vs MMU - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CHW(ETF)	MMU(ETF)
Net Assets	$586M	$586M
Max Drawdown	72.87%	46.70%
Sharpe Ratio	1.26	0.66
5Y Beta	0.88	0.17
5Y Dividends CAGR	-4.42%	4.49%

Net Assets

Winner

CHW

$586M

MMU

$586M

Max Drawdown

CHW

72.87%

Winner

MMU

46.70%

Sharpe Ratio

Winner

CHW

1.26

MMU

0.66

5Y Beta

CHW

0.88

Winner

MMU

0.17

5Y Dividends CAGR

CHW

-4.42%

Winner

MMU

4.49%

CHW vs MMU - Historical Returns

Returns include dividend reinvestment.

Period	CHW	MMU
1 month	+2.37%	+0.94%
3 months	-2.80%	+0.72%
6 months	+8.57%	-1.78%
1 year	+26.72%	+9.14%
5 years(CAGR)	+5.08%	-0.57%
10 years(CAGR)	+11.69%	+1.04%
Max(CAGR)	+7.12%	+5.84%

Winner

CHW

+2.37%

MMU

+0.94%

CHW

-2.80%

Winner

MMU

+0.72%

Winner

CHW

+8.57%

MMU

-1.78%

Winner

CHW

+26.72%

MMU

+9.14%

5Y(CAGR)

Winner

CHW

+5.08%

MMU

-0.57%

10Y(CAGR)

Winner

CHW

+11.69%

MMU

+1.04%

Max(CAGR)

Winner

CHW

+7.12%

MMU

+5.84%

CHW vs MMU - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	CHW	MMU
2026	+19.76%	+1.14%
2025	+20.25%	+6.96%
2024	+29.15%	+5.34%
2023	+13.92%	+4.91%
2022	-37.66%	-19.58%
2021	+16.61%	+6.24%
2020	+22.85%	+0.29%
2019	+42.73%	+5.60%
2018	-20.91%	-4.82%
2017	+44.00%	+8.30%
2016	+9.71%	+1.72%
2015	-11.37%	+10.34%
2014	+13.84%	+18.47%
2013	+14.81%	-11.35%
2012	+22.73%	+14.07%
2011	-7.00%	+20.27%
2010	+13.76%	+3.61%
2009	+45.50%	+37.35%
2008	-47.92%	-9.63%
2007	-11.08%	+3.15%
2006	N/A	+10.06%
2005	N/A	+3.14%
2004	N/A	+0.27%
2003	N/A	+14.43%
2002	N/A	+8.40%
2001	N/A	+7.38%
2000	N/A	+16.78%
1999	N/A	-6.08%

CHW vs MMU Drawdown Comparison

The maximum drawdown for CHW was -66.81%, occurring on Nov 20, 2008. Recovery took 1371 trading sessions.

The maximum drawdown for MMU was -34.50%, occurring on Mar 18, 2020. This drawdown has not yet recovered.

The current CHW drawdown is -4.61%. The current MMU drawdown is -5.83%.

Rank	CHW	MMU
#1	-66.81% Jul 26, 2007 - Jan 4, 2013	-34.50% Aug 8, 2019 - Mar 18, 2020
#2	-53.47% Feb 20, 2020 - Aug 31, 2020	-32.11% May 28, 2008 - Apr 21, 2009
#3	-46.07% Jul 29, 2021 - Sep 19, 2025	-26.42% Nov 26, 2012 - Mar 4, 2015
#4	-31.90% Sep 12, 2018 - Nov 4, 2019	-16.43% Dec 20, 2017 - Feb 26, 2019
#5	-29.24% Jul 24, 2014 - Feb 7, 2017	-14.63% Aug 23, 2016 - Dec 20, 2017
#6	-15.50% Feb 25, 2026 - Apr 27, 2026	-13.52% Sep 10, 2010 - Sep 7, 2011
#7	-11.96% Oct 13, 2020 - Nov 11, 2020	-12.27% Mar 8, 2004 - Nov 26, 2004
#8	-11.53% May 14, 2013 - Oct 22, 2013	-9.50% Feb 9, 2012 - May 3, 2012
#9	-10.79% Jan 26, 2018 - Sep 12, 2018	-8.49% Nov 16, 1999 - Jun 22, 2000
#10	-10.58% Jun 2, 2026 - Jul 29, 2026	-7.74% Oct 6, 2009 - Jan 14, 2010
#11	-7.74% Oct 9, 2025 - Jan 9, 2026	-7.60% Apr 24, 2015 - Jul 29, 2015
#12	-7.11% Aug 31, 2020 - Oct 7, 2020	-7.25% Sep 7, 2001 - Nov 7, 2001
#13	-6.63% May 14, 2026 - May 27, 2026	-7.17% Jul 27, 2012 - Sep 21, 2012
#14	-6.56% Apr 12, 2021 - Jun 8, 2021	-7.06% May 14, 2007 - Jan 3, 2008
#15	-6.30% Aug 7, 2017 - Sep 19, 2017	-6.87% Oct 2, 2002 - May 14, 2003

Correlation

Correlation between CHW and MMU is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (1999 - 2026)

CHW vs MMU dividend yield comparison.

Year	CHW	MMU
2026	4.32%	4.30%
2025	8.10%	6.26%
2024	8.89%	6.16%
2023	10.40%	4.36%
2022	13.62%	4.65%
2021	8.43%	3.88%
2020	8.79%	4.21%
2019	9.67%	4.96%
2018	12.82%	5.68%
2017	9.25%	5.37%
2016	12.05%	5.67%
2015	11.73%	5.50%
2014	8.93%	5.74%
2013	8.29%	6.39%
2012	8.91%	5.43%
2011	8.22%	5.82%
2010	7.17%	6.40%
2009	10.05%	5.29%
2008	21.28%	5.79%
2007	5.21%	4.97%
2006	0.00%	5.16%
2005	0.00%	5.54%
2004	0.00%	6.35%
2003	0.00%	6.10%
2002	0.00%	5.87%
2001	0.00%	5.77%
2000	0.00%	6.04%
1999	0.00%	1.10%