CAAAX vs. CAEIX

Last updated Jun 4, 2026

CAAAX (Calvert Growth Allocation Fund) and CAEIX (Calvert Global Energy Solutions Fund) are both mutual funds - CAAAX is a Diversified Portfolio fund managed by Calvert Research and Management, while CAEIX is a Global Equities fund managed by Calvert Research and Management. Over the past 10 years, CAAAX returned 10.84%/yr vs 11.83%/yr for CAEIX. Their correlation of 0.85 suggests significant overlap in exposure. CAAAX charges 0.43%/yr vs 0.99%/yr for CAEIX.

Performance

CAAAX vs. CAEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Growth Allocation Fund (CAAAX) and Calvert Global Energy Solutions Fund (CAEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAAAX achieves a 11.48% return, which is significantly lower than CAEIX's 23.10% return. Over the past 10 years, CAAAX has underperformed CAEIX with an annualized return of 10.84%, while CAEIX has yielded a comparatively higher 11.83% annualized return.

CAAAX

• 1D: 0.27%
• 1M: 6.04%
• YTD: 11.48%
• 6M: 12.09%
• 1Y: 23.62%
• 3Y*: 15.87%
• 5Y*: 7.53%
• 10Y*: 10.84%

CAEIX

• 1D: 1.24%
• 1M: 4.18%
• YTD: 23.10%
• 6M: 23.57%
• 1Y: 49.07%
• 3Y*: 13.90%
• 5Y*: 6.54%
• 10Y*: 11.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAAAX vs. CAEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAAAX Calvert Growth Allocation Fund	11.48%	14.93%	12.56%	15.14%	-18.26%	16.67%	18.55%	27.33%	-7.73%	20.27%
CAEIX Calvert Global Energy Solutions Fund	23.10%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	29.65%

Correlation

The correlation between CAAAX and CAEIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007	0.85

The correlation between CAAAX and CAEIX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

Return for Risk

CAAAX vs. CAEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAAAX

CAAAX Risk / Return Rank: 49
CAAAX Sharpe Ratio Rank: 50
CAAAX Sortino Ratio Rank: 49
CAAAX Omega Ratio Rank: 47
CAAAX Calmar Ratio Rank: 45
CAAAX Martin Ratio Rank: 55

CAEIX

CAEIX Risk / Return Rank: 89
CAEIX Sharpe Ratio Rank: 92
CAEIX Sortino Ratio Rank: 84
CAEIX Omega Ratio Rank: 80
CAEIX Calmar Ratio Rank: 95
CAEIX Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAAAX vs. CAEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Growth Allocation Fund (CAAAX) and Calvert Global Energy Solutions Fund (CAEIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CAAAX	CAEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	3.08	-1.00
Sortino ratio: Return per unit of downside risk	2.96	3.95	-0.99
Omega ratio: Gain probability vs. loss probability	1.37	1.52	-0.15
Calmar ratio: Return relative to maximum drawdown	2.56	6.03	-3.47
Martin ratio: Return relative to average drawdown	11.25	20.83	-9.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAAAX vs. CAEIX - Sharpe Ratio Comparison

The current CAAAX Sharpe Ratio is 2.08, which is lower than the CAEIX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of CAAAX and CAEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CAAAX	CAEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	3.08	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.34	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.60	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.07	+0.39

Drawdowns

CAAAX vs. CAEIX - Drawdown Comparison

The maximum CAAAX drawdown since its inception was -53.45%, smaller than the maximum CAEIX drawdown of -75.81%. Use the drawdown chart below to compare losses from any high point for CAAAX and CAEIX.

Drawdown Indicators

	CAAAX	CAEIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-75.81%	+22.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-8.39%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-15.37%	-24.57%	+9.20%
Max Drawdown (5Y) Largest decline over 5 years	-25.90%	-32.58%	+6.68%
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	-37.54%	+4.95%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.26%	-48.64%	+40.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.42%	-0.29%

Volatility

CAAAX vs. CAEIX - Volatility Comparison

The current volatility for Calvert Growth Allocation Fund (CAAAX) is 3.65%, while Calvert Global Energy Solutions Fund (CAEIX) has a volatility of 5.76%. This indicates that CAAAX experiences smaller price fluctuations and is considered to be less risky than CAEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAAAX	CAEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	5.76%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	12.91%	-3.56%
Volatility (1Y) Calculated over the trailing 1-year period	11.55%	16.43%	-4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	19.18%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.51%	19.69%	-4.18%

CAAAX vs. CAEIX - Expense Ratio Comparison

CAAAX has a 0.43% expense ratio, which is lower than CAEIX's 0.99% expense ratio.

Dividends

CAAAX vs. CAEIX - Dividend Comparison

CAAAX's dividend yield for the trailing twelve months is around 3.59%, more than CAEIX's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAAAX Calvert Growth Allocation Fund	3.59%	4.00%	2.50%	4.47%	2.81%	3.68%	3.34%	3.53%	6.44%	5.57%	5.13%	15.27%
CAEIX Calvert Global Energy Solutions Fund	0.59%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%

Frequently Asked Questions

Can I hold both CAAAX and CAEIX in my portfolio?

CAAAX and CAEIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAAAX or CAEIX?

CAEIX has higher volatility (5.76%) compared to CAAAX (3.65%). In terms of maximum drawdown, CAAAX dropped -53.45% vs CAEIX's -75.81%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (3.08 vs 2.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.