Company: CHY
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124662
Chunk: 79

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-12-29
Form: N-CSR
Chunk 79
---
 on a net asset value (NAV) basis and 11.59% on a market price basis for the 12 months ended October 31, 2025 ("annual period") versus a return of 19.85% for a comparator index comprising 50% MSCI ACWI Index (Net Returns), 25% FTSE Global Convertible Bond Index, and 25% Bloomberg US Corporate High Yield 2% Issuer Capped Index. At the end of the annual period, the Fund's shares traded at a -8.77% discount to the NAV. How do NAV and market price returns differ? Closed-end funds trade on exchanges where factors other than the value of the underlying securities may drive the price of shares or market price. For example, general market sentiment or future expectations may influence the market price. A fund's NAV return measures the actual return of the individual securities in the portfolio, less fund expenses. It also measures how effectively a manager capitalizes on market opportunities. Because we believe closed-end funds are best utilized long term within asset allocations, we deem that the NAV return is the better measure of a fund's performance. However, when managing our Fund, we strongly consider actions and policies to optimize its overall price performance and returns based on market value.

TOTAL RETURN* Common Shares – Inception 10/27/05

|                 |     | 1 Year |       |   |     | Since       
 Inception** |      |   |
| On Market Price |     |        | 11.59 | % |     |             | 8.22 | % |
| On NAV          |     |        | 20.97 | % |     |             | 8.97 | % |

*Total return measures net investment income and net realized gain or loss from Fund investments, and change in net unrealized appreciation and depreciation, assuming reinvestment of income and net realized gains distributions. **Annualized since inception. SECTOR WEIGHTINGS

| Information Technology      |     | 26.2 | % |
| Communication Services      |     | 13.5 |   |
| Industrials                 |     | 12.3 |   |
| Financials                  |     | 12.2 |   |
| Consumer Discretionary      |     |  9.8 |   |
| Materials                   |     |  4.7 |   |
| Consumer Staples            |     |  4.6 |   |
| Health Care                 |     |