CFICX vs. CYBIX

Last updated Jun 4, 2026

CFICX (Calvert Income Fund) and CYBIX (Calvert High Yield Bond Fund) are both mutual funds - CFICX is a Corporate Bonds fund managed by Calvert Research and Management, while CYBIX is a High Yield Bonds fund managed by Calvert Research and Management. Over the past 10 years, CFICX returned 3.01%/yr vs 4.26%/yr for CYBIX. At a 0.27 correlation, their price movements are largely independent. CFICX charges 0.92%/yr vs 0.76%/yr for CYBIX.

Performance

CFICX vs. CYBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Income Fund (CFICX) and Calvert High Yield Bond Fund (CYBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CFICX having a 0.59% return and CYBIX slightly higher at 0.60%. Over the past 10 years, CFICX has underperformed CYBIX with an annualized return of 3.01%, while CYBIX has yielded a comparatively higher 4.26% annualized return.

CFICX

• 1D: 0.07%
• 1M: 0.64%
• YTD: 0.59%
• 6M: 0.73%
• 1Y: 6.37%
• 3Y*: 6.12%
• 5Y*: 1.05%
• 10Y*: 3.01%

CYBIX

• 1D: 0.04%
• 1M: 0.53%
• YTD: 0.60%
• 6M: 1.21%
• 1Y: 5.52%
• 3Y*: 7.04%
• 5Y*: 2.84%
• 10Y*: 4.26%

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

CFICX vs. CYBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFICX Calvert Income Fund	0.59%	8.94%	4.11%	7.61%	-16.07%	1.71%	8.26%	14.75%	-3.36%	6.57%
CYBIX Calvert High Yield Bond Fund	0.60%	7.73%	6.70%	10.02%	-11.50%	3.66%	5.46%	12.82%	-2.53%	6.09%

Correlation

The correlation between CFICX and CYBIX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jul 10, 2001	0.27

Over the past year, CFICX and CYBIX have become more correlated (0.69) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

CFICX vs. CYBIX — Risk / Return Rank

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

CFICX

CFICX Risk / Return Rank: 35
CFICX Sharpe Ratio Rank: 36
CFICX Sortino Ratio Rank: 40
CFICX Omega Ratio Rank: 37
CFICX Calmar Ratio Rank: 30
CFICX Martin Ratio Rank: 30

CYBIX

CYBIX Risk / Return Rank: 49
CYBIX Sharpe Ratio Rank: 41
CYBIX Sortino Ratio Rank: 58
CYBIX Omega Ratio Rank: 56
CYBIX Calmar Ratio Rank: 34
CYBIX Martin Ratio Rank: 58

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.

CFICX vs. CYBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Income Fund (CFICX) and Calvert High Yield Bond Fund (CYBIX). 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.

	CFICX	CYBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.86	-0.12
Sortino ratio: Return per unit of downside risk	2.65	3.20	-0.55
Omega ratio: Gain probability vs. loss probability	1.32	1.42	-0.09
Calmar ratio: Return relative to maximum drawdown	2.07	2.18	-0.11
Martin ratio: Return relative to average drawdown	6.95	11.67	-4.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CFICX vs. CYBIX - Sharpe Ratio Comparison

The current CFICX Sharpe Ratio is 1.73, which is comparable to the CYBIX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of CFICX and CYBIX, 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

	CFICX	CYBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	1.86	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.63	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.93	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	1.07	-0.06

Drawdowns

CFICX vs. CYBIX - Drawdown Comparison

The maximum CFICX drawdown since its inception was -21.28%, smaller than the maximum CYBIX drawdown of -32.13%. Use the drawdown chart below to compare losses from any high point for CFICX and CYBIX.

Drawdown Indicators

	CFICX	CYBIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.28%	-32.13%	+10.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-2.60%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-6.11%	-3.62%	-2.49%
Max Drawdown (5Y) Largest decline over 5 years	-21.28%	-14.95%	-6.33%
Max Drawdown (10Y) Largest decline over 10 years	-21.28%	-17.55%	-3.73%
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-3.46%	-3.35%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.48%	+0.44%

Volatility

CFICX vs. CYBIX - Volatility Comparison

Calvert Income Fund (CFICX) has a higher volatility of 1.50% compared to Calvert High Yield Bond Fund (CYBIX) at 1.05%. This indicates that CFICX's price experiences larger fluctuations and is considered to be riskier than CYBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFICX	CYBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	1.05%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	2.46%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.05%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.64%	4.56%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	4.62%	+0.60%

CFICX vs. CYBIX - Expense Ratio Comparison

CFICX has a 0.92% expense ratio, which is higher than CYBIX's 0.76% expense ratio.

Dividends

CFICX vs. CYBIX - Dividend Comparison

CFICX's dividend yield for the trailing twelve months is around 4.74%, less than CYBIX's 5.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFICX Calvert Income Fund	4.74%	4.86%	4.91%	4.05%	3.22%	2.70%	2.96%	3.25%	3.60%	2.96%	3.23%	2.87%
CYBIX Calvert High Yield Bond Fund	5.82%	5.44%	5.25%	4.47%	4.12%	4.22%	4.49%	4.98%	5.20%	4.92%	5.51%	5.78%

Frequently Asked Questions

Can I hold both CFICX and CYBIX in my portfolio?

CFICX and CYBIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFICX or CYBIX?

CFICX has higher volatility (1.50%) compared to CYBIX (1.05%). In terms of maximum drawdown, CFICX dropped -21.28% vs CYBIX's -32.13%.

Which has better risk-adjusted returns?

CYBIX currently has the higher Sharpe Ratio (1.86 vs 1.73), 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.