Calamos Convertible and High Income Fund Common Stock (CHY)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Calamos Convertible and High Income Fund as a closed-end fund, not an operating business, so the usual moat test is difficult. It invests in convertibles and high-yield bonds rated Ba/BB or lower. At the close on 2026-10-13, the price was $11.90. FairStock calculations show a P/B of 0.93, a P/E of 2.84, a Graham Number of $32.29, and a 63.15% margin of safety. The 9.53% dividend yield is tempting and ROE is 36.30%, but a single-year P/E for a fund can be misleading because portfolio gains and losses swing earnings. Financial health is the weak spot: Piotroski F-Score is 1/9, Altman Z-Score is 1.37, leverage D/E is 0.46, and ROCE is only 0.21%. The fund has no Lynch category because there are only 0 years of filed results, and revenue/profit growth is not available. That lack of history matters. A 54/100 FairStock Score and beta of 1.16 suggest average risk/reward at best. The 52-week range of $10.41-$13.91 shows sentiment can move sharply. I would want real evidence that the high distribution is covered by durable income and that credit losses are contained before treating the discount as a true margin of safety.

In plain English: Calamos Convertible and High Income Fund is a closed-end fund that invests in convertible securities and lower-rated corporate bonds. Its price looks low compared with its accounting value and reported earnings, and it pays a very high income yield. But risk scores are weak and there is little filed history, so the business is hard to call strong.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer