This small-cap fund is built to win the -2-

The following performance comparison begins with the Calamos Timpany Small Cap Growth Fund, then the iShares Russell 2000 Growth ETF IWO, an exchange-traded fund that tracks the performance of the fund's performance benchmark index. Then there is the iShares Russell 2000 ETF IWM, which tracks the full Russell 2000 Index. There are the five peer funds with the highest five-year annual returns, among those available currently for direct purchase by new investors. All returns are through June 30, include reinvested dividends and capital-gain distributions, and are net of expenses and net of any sales charges. The funds' net expense ratios are in the right-most column.

Asset Name 1-year return 3-year avg. return 5-year avg. return 10-year avg. return Net expense ratio

Calamos Timpani Small Cap Growth Fund; I 64.8% 34.6% 10.2% 18.3% 1.05%

iShares Russell 2000 Growth ETF 38.6% 18.3% 5.5% 11.9% 0.24%

iShares Russell 2000 ETF 40.6% 18.4% 6.9% 11.5% 0.19%