CAAAX vs. CGJIX

Last updated Aug 1, 2026

CAAAX (Calvert Growth Allocation Fund) and CGJIX (Calvert US Large-Cap Growth Responsible Index Fund) are both mutual funds - CAAAX is a Diversified Portfolio fund managed by Calvert, while CGJIX is a Large Cap Growth Equities fund managed by Calvert. Over the past 10 years, CAAAX returned 10.47%/yr vs 16.80%/yr for CGJIX. Their correlation of 0.90 means they have usually moved in the same direction. CAAAX charges 0.43%/yr vs 0.24%/yr for CGJIX.

Performance

CAAAX vs. CGJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Growth Allocation Fund (CAAAX) and Calvert US Large-Cap Growth Responsible Index Fund (CGJIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAAAX achieves a 9.81% return, which is significantly higher than CGJIX's 7.25% return. Over the past 10 years, CAAAX has underperformed CGJIX with an annualized return of 10.47%, while CGJIX has yielded a comparatively higher 16.80% annualized return.

CAAAX

• 1D: 1.76%
• 1M: -0.86%
• 6M: 7.51%
• YTD: 9.81%
• 1Y: 19.44%
• 3Y*: 13.29%
• 5Y*: 6.85%
• 10Y*: 10.47%
• ALL TIME*: 7.60%

CGJIX

• 1D: 2.47%
• 1M: -1.39%
• 6M: 7.29%
• YTD: 7.25%
• 1Y: 16.78%
• 3Y*: 18.40%
• 5Y*: 11.27%
• 10Y*: 16.80%
• ALL TIME*: 16.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAAAX Calvert Growth Allocation Fund	$0.00	$0.00	$0.00
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	$0.00	$0.00	$0.00

CAAAX vs. CGJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAAAX Calvert Growth Allocation Fund	9.81%	14.93%	12.56%	15.14%	-18.26%	16.67%	18.55%	27.33%	-7.73%	20.27%
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	7.25%	14.56%	27.74%	36.66%	-26.84%	26.13%	38.69%	35.29%	0.74%	27.39%

Correlation

The correlation between CAAAX and CGJIX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.90

The correlation between CAAAX and CGJIX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

CAAAX vs. CGJIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CAAAX

CAAAX Risk / Return Rank: 53
CAAAX Sharpe Ratio Rank: 53
CAAAX Sortino Ratio Rank: 53
CAAAX Omega Ratio Rank: 50
CAAAX Calmar Ratio Rank: 50
CAAAX Martin Ratio Rank: 62

CGJIX

CGJIX Risk / Return Rank: 29
CGJIX Sharpe Ratio Rank: 29
CGJIX Sortino Ratio Rank: 28
CGJIX Omega Ratio Rank: 27
CGJIX Calmar Ratio Rank: 29
CGJIX Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CAAAX vs. CGJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Growth Allocation Fund (CAAAX) and Calvert US Large-Cap Growth Responsible Index Fund (CGJIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CAAAX	CGJIX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	0.95	+0.43
Sortino ratio: Return per unit of downside risk	1.98	1.39	+0.60
Omega ratio: Gain probability vs. loss probability	1.25	1.17	+0.08
Calmar ratio: Return relative to maximum drawdown	1.85	1.27	+0.58
Martin ratio: Return relative to average drawdown	7.91	4.75	+3.16

CAAAX vs. CGJIX - Sharpe Ratio Comparison

The current CAAAX Sharpe Ratio is 1.38, which is higher than the CGJIX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of CAAAX and CGJIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CAAAX vs. CGJIX - Drawdown Comparison

The maximum CAAAX drawdown since its inception was -53.45%, which is greater than CGJIX's maximum drawdown of -31.18%. Use the drawdown chart below to compare losses from any high point for CAAAX and CGJIX.

Drawdown Indicators

	CAAAX	CGJIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-31.18%	-22.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-11.15%	+1.76%
Max Drawdown (3Y) Largest decline over 3 years	-15.37%	-21.90%	+6.53%
Max Drawdown (5Y) Largest decline over 5 years	-25.90%	-31.18%	+5.28%
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	-31.18%	-1.41%
Current Drawdown Current decline from peak	-1.73%	-4.54%	+2.81%
Average Drawdown Average peak-to-trough decline	-8.20%	-5.43%	-2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	2.97%	-0.77%

Volatility

CAAAX vs. CGJIX - Volatility Comparison

The current volatility for Calvert Growth Allocation Fund (CAAAX) is 3.53%, while Calvert US Large-Cap Growth Responsible Index Fund (CGJIX) has a volatility of 4.58%. This indicates that CAAAX experiences smaller price fluctuations and is considered to be less risky than CGJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAAAX	CGJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	4.58%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	10.63%	12.06%	-1.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.66%	14.94%	-2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	19.99%	-5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	20.08%	-4.60%

CAAAX vs. CGJIX - Expense Ratio Comparison

CAAAX has a 0.43% expense ratio, which is higher than CGJIX's 0.24% expense ratio.

Dividends

CAAAX vs. CGJIX - Dividend Comparison

CAAAX's dividend yield for the trailing twelve months is around 3.64%, more than CGJIX's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAAAX Calvert Growth Allocation Fund	3.64%	4.00%	2.50%	4.47%	2.81%	3.68%	3.34%	3.53%	6.44%	5.57%	5.13%	15.27%
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	2.84%	3.05%	2.04%	0.53%	0.51%	1.85%	1.76%	1.64%	5.72%	2.19%	1.13%	0.00%

Frequently Asked Questions

Can I hold both CAAAX and CGJIX in my portfolio?

With a correlation of 0.93, CAAAX and CGJIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CAAAX or CGJIX?

CGJIX has higher volatility (4.58%) compared to CAAAX (3.53%). In terms of maximum drawdown, CAAAX dropped -53.45% vs CGJIX's -31.18%.

Which has better risk-adjusted returns?

CAAAX currently has the higher Sharpe Ratio (1.38 vs 0.95), 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.