CAL High Yield Fund vs CAL Three Year Closed End Fund
Prices as at 26 Aug 2026. Both are income / fixed income funds, so they are measured over the same window on the same basis. Past performance is not indicative of future results.
In short
Over the last 180 days CAL High Yield Fund returned +5.52% and CAL Three Year Closed End Fund returned +3.82%, both to 26 Aug 2026. CAL High Yield Fund is the cheaper of the two at 0.75% a year against 1.00%. CAL High Yield Fund has been the steadier, moving 2.6 times less than CAL Three Year Closed End Fund.
Side by side
Returns are price returns on the bid side, computed by us from daily published prices.
| CAL High Yield Fund | CAL Three Year Closed End Fund | |
|---|---|---|
| Fund manager | Capital Alliance Investments Ltd | Capital Alliance Investments Ltd |
| Category | Income / Fixed Income | Income / Fixed Income |
| 180-day returnPrice return, bid side | +5.52% | +3.82% |
| Management feeA year, deducted before pricing | 0.75% | 1.00% |
| VolatilityAnnualised, from daily prices | 0.30% | 0.78% |
| Largest fallPeak to trough, our record | −0.06% | −0.43% |
| Minimum investment | LKR 100 | LKR 100 |
| Pricing days we hold | 329 | 315 |
A blank means unknown, not zero: our price record for that fund does not reach back far enough, or the figure is not published.
What actually differs
Both funds are run by Capital Alliance Investments Ltd, so this is a comparison within one house rather than between two. That removes a variable: the same investment team, the same operational setup and the same trustee arrangements sit behind each. What is left to separate them is what each fund is mandated to hold and what it charges for doing so.
The clearest difference is the management fee. CAL High Yield Fund charges 0.75% a year against CAL Three Year Closed End Fund's 1.00%, a gap of 0.25 percentage points. On LKR 100,000 held for a year that is about LKR 250 more retained by a holder of CAL High Yield Fund, before any difference in what the two funds actually earn. The fee is deducted from the fund's assets before the unit price is struck, so it applies whatever the market does — which makes it the one number here that is knowable in advance.
Over the 180 days to the date shown, CAL High Yield Fund returned +5.52% against CAL Three Year Closed End Fund's +3.82%, a gap of 1.69 percentage points. That is one window: a different 180 days would very likely order them differently, and neither figure predicts the next six months. Both are price returns on the bid side and exclude income a fund distributed rather than accrued into its price.
They have not moved by the same amount. CAL High Yield Fund has annualised volatility of 0.30% against CAL Three Year Closed End Fund's 0.78%, meaning CAL Three Year Closed End Fund's unit price has swung roughly 2.6 times as much day to day. Their largest peak-to-trough falls over the period we hold prices for were −0.06% and −0.43%. Volatility describes how the price has behaved, not how likely a loss is, and a fund that has been steady can still fall.
Among the 19 income / fixed income funds we price daily, CAL High Yield Fund ranks 1st on 180-day return and CAL Three Year Closed End Fund 9th, against a category median of +3.71% over the same window. On fee they sit 15th and 16th cheapest of the 19, where the median is 0.50%. On how much the price has moved, CAL High Yield Fund is 4th steadiest and CAL Three Year Closed End Fund 10th.
Common questions
Which has the lower fee, CAL High Yield Fund or CAL Three Year Closed End Fund?
CAL High Yield Fund, at 0.75% a year against 1.00%. The management fee is deducted before the unit price is struck, so the returns shown on this page are already after it.
Which is less volatile, CAL High Yield Fund or CAL Three Year Closed End Fund?
CAL High Yield Fund, with annualised volatility of 0.30% against 0.78%, measured from the daily prices we collect. That describes how much each price has moved in the past; it is not a prediction and not a risk rating.
Can I hold both funds at the same time?
Yes. Unit trusts are bought independently of each other and holding two does not affect either. Whether holding both makes sense for a particular person depends on their circumstances, which is a question for a licensed investment adviser rather than for this page.
What is the minimum investment for each?
CAL High Yield Fund opens at LKR 100 and CAL Three Year Closed End Fund at LKR 100. Minimums are set by each fund manager and can change, so treat these as the last published figures rather than a quotation.
This page sets out how two funds differ on measures we can state and date. It is not a recommendation, it does not say which fund is better, and CeylonFunds is not a licensed investment adviser. How every figure is calculated is in our methodology.
Related
Daily unit prices published by the Unit Trust Association of Sri Lanka (utasl.lk). Performance figures as published by the respective fund managers.