CDEI vs. ITOT

Last updated Jun 6, 2026

CDEI (Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds - CDEI tracks the Russell 1000 Index while ITOT tracks the S&P Total Market Index. Both are passively managed. Over the past 3 years, CDEI returned 18.74%/yr vs 21.07%/yr for ITOT. With a 0.96 correlation, they move nearly in lockstep. CDEI charges 0.14%/yr vs 0.03%/yr for ITOT.

Performance

CDEI vs. ITOT - 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 iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDEI achieves a 7.78% return, which is significantly lower than ITOT's 8.76% return.

CDEI

• 1D: -2.02%
• 1M: 0.96%
• YTD: 7.78%
• 6M: 8.06%
• 1Y: 25.22%
• 3Y*: 18.74%
• 5Y*: —
• 10Y*: —

ITOT

• 1D: -2.71%
• 1M: 0.38%
• YTD: 8.76%
• 6M: 8.31%
• 1Y: 25.86%
• 3Y*: 21.07%
• 5Y*: 12.18%
• 10Y*: 14.67%

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

CDEI vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	7.78%	16.60%	18.67%	20.47%
ITOT iShares Core S&P Total U.S. Stock Market ETF	8.76%	17.00%	23.80%	16.59%

Correlation

The correlation between CDEI and ITOT is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.96

The correlation between CDEI and ITOT has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

CDEI vs. ITOT - Sectors Allocation Comparison

Sectors	CDEI	ITOT
Technology	40.9%	33.8%
Financial Services	15.6%	12.1%
Communication Services	12.3%	10.3%
Healthcare	9.8%	9.0%
Consumer Cyclical	6.5%	10.1%
Industrials	5.2%	9.5%
Consumer Defensive	4.9%	4.7%
Utilities	2.3%	2.3%
Real Estate	1.6%	2.4%
Energy	0.5%	3.7%
Basic Materials	0.3%	2.1%

Return for Risk

CDEI vs. ITOT — Risk / Return Rank

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

CDEI

CDEI Risk / Return Rank: 63
CDEI Sharpe Ratio Rank: 67
CDEI Sortino Ratio Rank: 66
CDEI Omega Ratio Rank: 64
CDEI Calmar Ratio Rank: 55
CDEI Martin Ratio Rank: 65

ITOT

ITOT Risk / Return Rank: 64
ITOT Sharpe Ratio Rank: 64
ITOT Sortino Ratio Rank: 61
ITOT Omega Ratio Rank: 63
ITOT Calmar Ratio Rank: 60
ITOT Martin Ratio Rank: 72

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. ITOT - 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 iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.08	-0.01
Sortino ratio: Return per unit of downside risk	2.85	2.80	+0.04
Omega ratio: Gain probability vs. loss probability	1.36	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	2.56	2.92	-0.36
Martin ratio: Return relative to average drawdown	11.11	13.34	-2.22
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. ITOT - Sharpe Ratio Comparison

The current CDEI Sharpe Ratio is 2.07, which is comparable to the ITOT Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of CDEI and ITOT, 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

	CDEI	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.08	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	0.57	+0.71

Drawdowns

CDEI vs. ITOT - Drawdown Comparison

The maximum CDEI drawdown since its inception was -19.46%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for CDEI and ITOT.

Drawdown Indicators

	CDEI	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-55.20%	+35.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	-8.90%	-0.98%
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	-19.44%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-2.02%	-2.95%	+0.93%
Average Drawdown Average peak-to-trough decline	-2.28%	-6.97%	+4.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	1.94%	+0.33%

Volatility

CDEI vs. ITOT - Volatility Comparison

The current volatility for Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) is 3.54%, while iShares Core S&P Total U.S. Stock Market ETF (ITOT) has a volatility of 3.93%. This indicates that CDEI experiences smaller price fluctuations and is considered to be less risky than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDEI	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.93%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	9.56%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	12.51%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.06%	17.39%	-2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.06%	18.28%	-3.22%

CDEI vs. ITOT - Expense Ratio Comparison

CDEI has a 0.14% expense ratio, which is higher than ITOT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CDEI vs. ITOT - Dividend Comparison

CDEI's dividend yield for the trailing twelve months is around 0.98%, less than ITOT's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	0.98%	1.05%	1.22%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.00%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%

Frequently Asked Questions

Can I hold both CDEI and ITOT in my portfolio?

With a correlation of 0.95, CDEI and ITOT 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, CDEI or ITOT?

ITOT has higher volatility (3.93%) compared to CDEI (3.54%). In terms of maximum drawdown, CDEI dropped -19.46% vs ITOT's -55.20%.

Which ETF is better, CDEI or ITOT?

On 3-year performance, ITOT leads with 21.07% vs 18.74% for CDEI. On fees, ITOT is cheaper at 0.03% per year. On volatility, CDEI has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDEI or ITOT?

Over the 3-year period, ITOT has performed better with a 21.07% return vs 18.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDEI or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.14% for CDEI.

Which ETF pays a higher dividend yield, CDEI or ITOT?

ITOT has the higher dividend yield at 1.00%, compared with 0.98% for CDEI.

What is the main difference between CDEI and ITOT?

CDEI tracks Russell 1000 Index, while ITOT tracks S&P Total Market Index. They also come from different issuers: Calvert and iShares. Their fees differ too: 0.14% for CDEI and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.08 vs 2.07), 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.