<SEC-DOCUMENT>0001602584-15-000018.txt : 20151229
<SEC-HEADER>0001602584-15-000018.hdr.sgml : 20151229
<ACCEPTANCE-DATETIME>20151229162024
ACCESSION NUMBER:		0001602584-15-000018
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151031
FILED AS OF DATE:		20151229
DATE AS OF CHANGE:		20151229
EFFECTIVENESS DATE:		20151229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Calamos Dynamic Convertible & Income Fund
		CENTRAL INDEX KEY:			0001602584
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22949
		FILM NUMBER:		151311541

	BUSINESS ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
		BUSINESS PHONE:		630-245-7200

	MAIL ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>cvx5answers.fil
<DESCRIPTION>CVX5 ANSWERS 10.31.15
<TEXT>
<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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SIGNATURE   CURTIS HOLLOWAY
TITLE       TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>CVX5Exh77B.txt
<DESCRIPTION>CVX5 AUDIT LETTER
<TEXT>
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and Board of Trustees of Calamos Dynamic Convertible
 and Income Fund
In planning and performing our audit of the financial statements of Calamos
 Dynamic Convertible and Income Fund (the Fund) as of October 31, 2015 and
for the period from March 27, 2015 (commencement of operations) through
October 31, 2015, in accordance with the standards of the Public Company
Accounting Oversight Board (United States), we considered the Funds internal
 control over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for the purpose
of expressing our opinion on the financial statements and to comply with the
 requirements of Form N-SAR, but not for the purpose of expressing an opinion
 on the effectiveness of the Funds internal control over financial reporting.
 Accordingly, we express no such opinion.
The management of the Fund is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
 the expected benefits and related costs of controls. A companys internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
 generally accepted accounting principles. A companys internal control over
financial reporting includes those policies and procedures that (1) pertain
to the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures
of the company are being made only in accordance with authorizations of
management and directors of the company; and (3) provide reasonable assurance
 regarding prevention or timely detection of unauthorized acquisition, use,
or disposition of a companys assets that could have a material effect on the
 financial statements.
Because of its inherent limitations, internal control over financial
 reporting may not prevent or detect misstatements. Also, projections of any
 evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions or that the
degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in
the normal course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A material weakness is a deficiency,
 or a combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a material
misstatement of the companys annual or interim financial statements will not
 be prevented or detected on a timely basis.
Our consideration of the Funds internal control over financial reporting was
 for the limited purpose described in the first paragraph and would not
 necessarily disclose all deficiencies in internal control that might be
material weaknesses under standards established by the Public Company
Accounting Oversight Board (United States). However, we noted no
deficiencies in the Funds internal control over financial reporting and its
operation, including controls for safeguarding securities, that we consider
to be a material weakness, as defined above, as of October 31, 2015.
This report is intended solely for the information and use of management and
 the Board of Trustees of Calamos Dynamic Convertible and Income Fund and
the Securities and Exchange Commission and is not intended to be and should
not be used by anyone other than these specified parties.
/s/ DELOITTE & TOUCHE LLP
Chicago, Illinois
December 16, 2015

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
