CDHIX vs. CTTLX

Last updated Jun 3, 2026

CDHIX (Calvert International Responsible Index Fund) and CTTLX (Calvert Responsible Municipal Income Fund) are both mutual funds - CDHIX is a Foreign Large Cap Equities fund managed by Calvert Research and Management, while CTTLX is a Municipal Bonds fund managed by Calvert Research and Management. Over the past 10 years, CDHIX returned 10.97%/yr vs 1.89%/yr for CTTLX. At a 0.05 correlation, their price movements are largely independent. CDHIX charges 0.29%/yr vs 0.75%/yr for CTTLX.

Performance

CDHIX vs. CTTLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert International Responsible Index Fund (CDHIX) and Calvert Responsible Municipal Income Fund (CTTLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDHIX achieves a 19.33% return, which is significantly higher than CTTLX's 1.49% return. Over the past 10 years, CDHIX has outperformed CTTLX with an annualized return of 10.97%, while CTTLX has yielded a comparatively lower 1.89% annualized return.

CDHIX

• 1D: 0.98%
• 1M: 7.62%
• YTD: 19.33%
• 6M: 23.22%
• 1Y: 36.30%
• 3Y*: 21.54%
• 5Y*: 10.50%
• 10Y*: 10.97%

CTTLX

• 1D: 0.00%
• 1M: 0.40%
• YTD: 1.49%
• 6M: 1.96%
• 1Y: 7.42%
• 3Y*: 4.05%
• 5Y*: 0.97%
• 10Y*: 1.89%

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

CDHIX vs. CTTLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDHIX Calvert International Responsible Index Fund	19.33%	33.29%	5.04%	20.03%	-19.22%	12.57%	15.33%	24.38%	-13.67%	25.31%
CTTLX Calvert Responsible Municipal Income Fund	1.49%	5.18%	1.93%	5.00%	-8.48%	0.20%	4.38%	7.45%	0.54%	5.00%

Correlation

The correlation between CDHIX and CTTLX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.05

Over the past year, CDHIX and CTTLX have become more correlated (0.27) than their long-term average of 0.05, meaning their price movements have been converging.

Return for Risk

CDHIX vs. CTTLX — Risk / Return Rank

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

CDHIX

CDHIX Risk / Return Rank: 59
CDHIX Sharpe Ratio Rank: 63
CDHIX Sortino Ratio Rank: 56
CDHIX Omega Ratio Rank: 57
CDHIX Calmar Ratio Rank: 61
CDHIX Martin Ratio Rank: 60

CTTLX

CTTLX Risk / Return Rank: 69
CTTLX Sharpe Ratio Rank: 84
CTTLX Sortino Ratio Rank: 87
CTTLX Omega Ratio Rank: 90
CTTLX Calmar Ratio Rank: 43
CTTLX Martin Ratio Rank: 40

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.

CDHIX vs. CTTLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert International Responsible Index Fund (CDHIX) and Calvert Responsible Municipal Income Fund (CTTLX). 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.

	CDHIX	CTTLX	Difference
Sharpe ratio Return per unit of total volatility	2.34	2.71	-0.37
Sortino ratio Return per unit of downside risk	3.15	4.18	-1.03
Omega ratio Gain probability vs. loss probability	1.42	1.65	-0.23
Calmar ratio Return relative to maximum drawdown	3.00	2.50	+0.51
Martin ratio Return relative to average drawdown	11.97	8.64	+3.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDHIX vs. CTTLX - Sharpe Ratio Comparison

The current CDHIX Sharpe Ratio is 2.34, which is comparable to the CTTLX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of CDHIX and CTTLX, 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

	CDHIX	CTTLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.71	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.26	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.49	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.03	-0.38

Drawdowns

CDHIX vs. CTTLX - Drawdown Comparison

The maximum CDHIX drawdown since its inception was -32.32%, which is greater than CTTLX's maximum drawdown of -13.21%. Use the drawdown chart below to compare losses from any high point for CDHIX and CTTLX.

Drawdown Indicators

	CDHIX	CTTLX	Difference
Max Drawdown Largest peak-to-trough decline	-32.32%	-13.21%	-19.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-2.94%	-9.67%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	-5.67%	-7.74%
Max Drawdown (5Y) Largest decline over 5 years	-32.01%	-13.21%	-18.80%
Max Drawdown (10Y) Largest decline over 10 years	-32.32%	-13.21%	-19.11%
Current Drawdown Current decline from peak	0.00%	-0.66%	+0.66%
Average Drawdown Average peak-to-trough decline	-6.32%	-2.02%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	0.85%	+2.31%

Volatility

CDHIX vs. CTTLX - Volatility Comparison

Calvert International Responsible Index Fund (CDHIX) has a higher volatility of 5.79% compared to Calvert Responsible Municipal Income Fund (CTTLX) at 1.07%. This indicates that CDHIX's price experiences larger fluctuations and is considered to be riskier than CTTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDHIX	CTTLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	1.07%	+4.72%
Volatility (6M) Calculated over the trailing 6-month period	13.58%	2.04%	+11.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.23%	2.65%	+13.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	3.71%	+12.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	3.83%	+12.71%

CDHIX vs. CTTLX - Expense Ratio Comparison

CDHIX has a 0.29% expense ratio, which is lower than CTTLX's 0.75% expense ratio.

Dividends

CDHIX vs. CTTLX - Dividend Comparison

CDHIX's dividend yield for the trailing twelve months is around 2.84%, less than CTTLX's 3.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDHIX Calvert International Responsible Index Fund	2.84%	3.39%	2.87%	2.00%	1.92%	2.00%	1.25%	1.72%	2.25%	1.35%	2.01%	0.00%
CTTLX Calvert Responsible Municipal Income Fund	3.15%	3.99%	3.29%	2.21%	1.43%	1.04%	1.43%	2.46%	2.44%	2.57%	2.71%	2.62%

Frequently Asked Questions

Can I hold both CDHIX and CTTLX in my portfolio?

CDHIX and CTTLX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDHIX or CTTLX?

CDHIX has higher volatility (5.79%) compared to CTTLX (1.07%). In terms of maximum drawdown, CDHIX dropped -32.32% vs CTTLX's -13.21%.

Which has better risk-adjusted returns?

CTTLX currently has the higher Sharpe Ratio (2.71 vs 2.34), 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.