CDEI vs. CVSE

Last updated Apr 2, 2026

Compare and contrast key facts about Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) and Calvert US Select Equity ETF (CVSE).

CDEI and CVSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CDEI is a passively managed fund by Calvert that tracks the performance of the Russell 1000 Index. It was launched on Jan 30, 2023. CVSE is an actively managed fund by Calvert. It was launched on Jan 30, 2023.

Performance

CDEI vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

CDEI vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	-5.10%	16.60%	18.67%	20.47%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	19.11%	13.35%

Returns By Period

CDEI

• 1D: 0.93%
• 1M: -4.35%
• YTD: -5.10%
• 6M: -1.22%
• 1Y: 17.27%
• 3Y*: 15.97%
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -0.72%
• 1Y: 15.06%
• 3Y*: 14.69%
• 5Y*: —
• 10Y*: —

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

CDEI vs. CVSE - Expense Ratio Comparison

CDEI has a 0.14% expense ratio, which is lower than CVSE's 0.29% expense ratio.

CVSE

Calvert US Select Equity ETF

CDEI

Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF

Return for Risk

CDEI vs. CVSE — Risk / Return Rank

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

CDEI

CDEI Risk / Return Rank: 52
CDEI Sharpe Ratio Rank: 49
CDEI Sortino Ratio Rank: 52
CDEI Omega Ratio Rank: 54
CDEI Calmar Ratio Rank: 50
CDEI Martin Ratio Rank: 58

CVSE

CVSE Risk / Return Rank: 54
CVSE Sharpe Ratio Rank: 48
CVSE Sortino Ratio Rank: 52
CVSE Omega Ratio Rank: 81
CVSE Calmar Ratio Rank: 35
CVSE Martin Ratio Rank: 53

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.

CDEI vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) and Calvert US Select Equity ETF (CVSE). 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.

	CDEI	CVSE	Difference
Sharpe ratio Return per unit of total volatility	0.94	0.94	0.00
Sortino ratio Return per unit of downside risk	1.46	1.48	-0.01
Omega ratio Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio Return relative to maximum drawdown	1.45	1.05	+0.39
Martin ratio Return relative to average drawdown	6.37	5.90	+0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDEI vs. CVSE - Sharpe Ratio Comparison

The current CDEI Sharpe Ratio is 0.94, which is comparable to the CVSE Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of CDEI and CVSE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CDEI	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.94	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.95	+0.09

Correlation

The correlation between CDEI and CVSE is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CDEI vs. CVSE - Dividend Comparison

CDEI's dividend yield for the trailing twelve months is around 1.11%, more than CVSE's 0.59% yield.

	TTM	2025	2024	2023
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	1.11%	1.05%	1.22%	1.16%
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%

Drawdowns

CDEI vs. CVSE - Drawdown Comparison

The maximum CDEI drawdown since its inception was -19.46%, roughly equal to the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for CDEI and CVSE.

Drawdown Indicators

	CDEI	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-20.29%	+0.83%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-12.80%	+0.66%
Current Drawdown Current decline from peak	-6.47%	-1.68%	-4.79%
Average Drawdown Average peak-to-trough decline	-2.36%	-2.74%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.31%	+0.45%

Volatility

CDEI vs. CVSE - Volatility Comparison

Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) has a higher volatility of 5.31% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that CDEI's price experiences larger fluctuations and is considered to be riskier than CVSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDEI	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	0.00%	+5.31%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	3.23%	+6.33%
Volatility (1Y) Calculated over the trailing 1-year period	18.46%	16.29%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	14.24%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	14.24%	+0.94%