CEFSvsCCEFETF Comparison
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Saba Closed-End Funds ETF (CEFS) and Calamos CEF Income & Arbitrage ETF (CCEF) belong to the same industry segment: Multi-Asset: Other. Both ETFs have the same top 2 sector exposures: Non-Corporate and Finance. CEFS is less expensive with a Total Expense Ratio (TER) of 2.61%, versus 3.19% for CCEF. CEFS is up 16.61% year-to-date (YTD) with +$38M in YTD flows. CCEF performs worse with 9.24% YTD performance, and +$8M in YTD flows. Run a side-by-side ETF comparison of CEFS and CCEF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CEFS vs CCEF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CEFS CCEF | +1.93%+1.85% | +0.23%+2.97% | +16.61%+9.24% | +21.85%+13.07% | +76.79%n/a | +90.47%n/a |
| Flows | CEFS CCEF | +$6M+$1M | +$20M+$3M | +$38M+$8M | +$80M+$16M | +$230M- | +$286M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CEFS CCEF | +10.52%+7.59% | +9.17%+8.44% | +10.55%n/a | +12.21%n/a |
| Max drawdown | CEFS CCEF | -4.11%-2.32% | -4.75%-7.57% | -12.48%n/a | -16.51%n/a |
| Max drawdown duration | CEFS CCEF | 51d20d | 41d63d | 104dn/a | 436dn/a |
Trading data
CEFS | CCEF | |
Last sale 9/3/2026 at 1:30 PM | $25.26 | $29.79 |
| Previous close 09/02/2026 | $25.28 | $29.81 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
CEFS | CCEF | |
|---|---|---|
| Last price | $25.26 | $29.79 |
| 1D performance | -0.08% | -0.08% |
| AuM | $439.74 M | $35.72 M |
| E/R | 2.61% | 3.19% |
Characteristics
CEFS | CCEF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Saba Capital | Calamos Investments |
| Benchmark | - | - |
| N° of holdings | 24 | 12 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 21, 2017 | January 16, 2024 |
| ESG | No | No |
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Exposure
Countries
CEFS
USA
35.86%
Other
64.14%
CCEF
USA
21.96%
Other
78.04%
Sectors
CEFS
Non-Corporate
35.41%
Other
64.59%
CCEF
Non-Corporate
20.48%
Other
79.52%
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Diversification
CEFS
Total weight of top 15 holdings out of 15
58.26%
CCEF
Total weight of top 15 holdings out of 15
43.88%
Top 15 holdings
Data as of July 31, 2026
CEFS
US09260K1016
11.41%
Virtus Dividend Interest & Premium Strategy Fund
6.95%
ASA Gold & Precious Metals Ltd.
6.61%
BlackRock ESG Capital Allocation Term Trust
4.82%
US7809151043
3.58%
US36242H1041
3.24%
US3688021043
2.91%
PIMCO Dynamic Income Strategy Fund
2.90%
Neuberger Next Generation Connectivity Fund Inc.
2.57%
US6706EW1000
2.51%
US64129H1041
2.39%
US92835W1071
2.25%
US5928351023
2.16%
BlackRock Technology & Private Equity Term Trust
2.05%
US8954361031
1.89%
CCEF
US27829C1053
4.12%
Virtus Equity & Convertible Income Fund
4.02%
US25538A2042
3.49%
US00548F1057
3.48%
US09260E1055
2.97%
Virtus AllianzGI Artificial Intelligence & Technology Opps
2.72%
ClearBridge Energy MLP Opportunity Fund Inc.
2.72%
Nuveen Multi-Asset Income Fund
2.62%
LMP Capital & Income Fund, Inc.
2.60%
US8801911012
2.57%
US6706EW1000
2.57%
US61744H1059
2.54%
US0925241079
2.53%
US64190A1034
2.48%
US41013T1051
2.45%
Frequently asked questions about CEFS and CCEF
How have the CEFS and CCEF ETFs performed in 2026?
As of September 2, 2026, CEFS is up 16.61% year-to-date (YTD), while CCEF has returned 9.24%. That puts CEFS better performer ahead so far this year.
Which ETF is attracting more investor money: CEFS or CCEF?
Year-to-date, the CEFS ETF saw +$38M in flows, compared to +$8M for CCEF.
Which ETF is more volatile: CEFS or CCEF?
Over the past year, CEFS had a volatility of 9.17%, while CCEF experienced 8.44%.
Which ETF is bigger: CEFS or CCEF?
As of September 2, 2026, CEFS holds $439.74 M in assets under management (AUM), while CCEF manages $35.72 M.
What sectors do the CEFS and CCEF ETFs invest in?
CEFS leans toward sectors like Non-Corporate. Meanwhile, CCEF focuses on Non-Corporate.
What are the top holdings of the CEFS ETF and CCEF ETF?
CEFS top holdings include US09260K1016, Virtus Dividend Interest & Premium Strategy Fund and ASA Gold & Precious Metals Ltd.. CCEF holds in its top three: US27829C1053, Virtus Equity & Convertible Income Fund and US25538A2042.
Which ETF is more diversified: CEFS or CCEF?
CEFS holds 71 securities with 58.26% of its assets in the top 15. CCEF has 52 securities and a top 15 weight of 43.88%.
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