CAEIX vs. NALFX

Last updated Jun 23, 2026

CAEIX (Calvert Global Energy Solutions Fund) and NALFX (New Alternatives Fund) are both Global Equities funds. Over the past 10 years, CAEIX returned 11.57%/yr vs 10.91%/yr for NALFX. Their correlation of 0.84 suggests significant overlap in exposure. CAEIX charges 0.99%/yr vs 0.89%/yr for NALFX.

Performance

CAEIX vs. NALFX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with CAEIX having a 17.95% return and NALFX slightly lower at 17.77%. Over the past 10 years, CAEIX has outperformed NALFX with an annualized return of 11.57%, while NALFX has yielded a comparatively lower 10.91% annualized return.

CAEIX

• 1D: 1.29%
• 1M: -1.79%
• YTD: 17.95%
• 6M: 17.45%
• 1Y: 42.22%
• 3Y*: 11.22%
• 5Y*: 5.91%
• 10Y*: 11.57%

NALFX

• 1D: 1.54%
• 1M: 0.27%
• YTD: 17.77%
• 6M: 17.61%
• 1Y: 30.18%
• 3Y*: 9.77%
• 5Y*: 3.13%
• 10Y*: 10.91%

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

CAEIX vs. NALFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAEIX Calvert Global Energy Solutions Fund	17.95%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	29.65%
NALFX New Alternatives Fund	17.77%	28.13%	-6.03%	-2.49%	-15.87%	-4.78%	61.74%	36.98%	-6.91%	21.24%

Correlation

The correlation between CAEIX and NALFX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since May 31, 2007	0.84

The correlation between CAEIX and NALFX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

CAEIX vs. NALFX — Risk / Return Rank

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

CAEIX

CAEIX Risk / Return Rank: 80
CAEIX Sharpe Ratio Rank: 81
CAEIX Sortino Ratio Rank: 70
CAEIX Omega Ratio Rank: 69
CAEIX Calmar Ratio Rank: 94
CAEIX Martin Ratio Rank: 89

NALFX

NALFX Risk / Return Rank: 59
NALFX Sharpe Ratio Rank: 53
NALFX Sortino Ratio Rank: 48
NALFX Omega Ratio Rank: 46
NALFX Calmar Ratio Rank: 87
NALFX Martin Ratio Rank: 63

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.

CAEIX vs. NALFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Global Energy Solutions Fund (CAEIX) and New Alternatives Fund (NALFX). 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.

	CAEIX	NALFX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.98	+0.46
Sortino ratio: Return per unit of downside risk	3.18	2.68	+0.49
Omega ratio: Gain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	5.00	3.97	+1.02
Martin ratio: Return relative to average drawdown	16.04	11.61	+4.42

CAEIX vs. NALFX - Sharpe Ratio Comparison

The current CAEIX Sharpe Ratio is 2.44, which is comparable to the NALFX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of CAEIX and NALFX, 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

CAEIX vs. NALFX - Drawdown Comparison

The maximum CAEIX drawdown since its inception was -75.81%, which is greater than NALFX's maximum drawdown of -59.67%. Use the drawdown chart below to compare losses from any high point for CAEIX and NALFX.

Drawdown Indicators

	CAEIX	NALFX	Difference
Max Drawdown Largest peak-to-trough decline	-75.81%	-59.67%	-16.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.39%	-7.53%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-24.57%	-24.35%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-38.03%	+5.45%
Max Drawdown (10Y) Largest decline over 10 years	-37.54%	-42.35%	+4.81%
Current Drawdown Current decline from peak	-4.18%	-1.23%	-2.95%
Average Drawdown Average peak-to-trough decline	-48.51%	-14.82%	-33.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.57%	+0.04%

Volatility

CAEIX vs. NALFX - Volatility Comparison

Calvert Global Energy Solutions Fund (CAEIX) has a higher volatility of 6.86% compared to New Alternatives Fund (NALFX) at 4.92%. This indicates that CAEIX's price experiences larger fluctuations and is considered to be riskier than NALFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAEIX	NALFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	4.92%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	13.98%	12.47%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	15.11%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	17.87%	+1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	18.04%	+1.68%

CAEIX vs. NALFX - Expense Ratio Comparison

CAEIX has a 0.99% expense ratio, which is higher than NALFX's 0.89% expense ratio.

Dividends

CAEIX vs. NALFX - Dividend Comparison

CAEIX's dividend yield for the trailing twelve months is around 0.61%, less than NALFX's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAEIX Calvert Global Energy Solutions Fund	0.61%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%
NALFX New Alternatives Fund	0.99%	1.17%	2.04%	4.47%	4.63%	5.14%	4.93%	5.55%	6.62%	4.16%	3.71%	1.71%

Frequently Asked Questions

Can I hold both CAEIX and NALFX in my portfolio?

CAEIX and NALFX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAEIX or NALFX?

CAEIX has higher volatility (6.86%) compared to NALFX (4.92%). In terms of maximum drawdown, CAEIX dropped -75.81% vs NALFX's -59.67%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (2.44 vs 1.98), 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.