CGAEX vs. CAAAX

Last updated Aug 1, 2026

CGAEX (Calvert Global Energy Solutions Fund Class A) and CAAAX (Calvert Growth Allocation Fund) are both mutual funds - CGAEX is a Energy Equities fund managed by Calvert, while CAAAX is a Diversified Portfolio fund managed by Calvert. Over the past 10 years, CGAEX returned 10.57%/yr vs 10.47%/yr for CAAAX. Their correlation of 0.85 means they have usually moved in the same direction. CGAEX charges 1.24%/yr vs 0.43%/yr for CAAAX.

Performance

CGAEX vs. CAAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Global Energy Solutions Fund Class A (CGAEX) and Calvert Growth Allocation Fund (CAAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGAEX achieves a 11.27% return, which is significantly higher than CAAAX's 9.81% return. Both investments have delivered pretty close results over the past 10 years, with CGAEX having a 10.57% annualized return and CAAAX not far behind at 10.47%.

CGAEX

• 1D: 2.89%
• 1M: -2.92%
• 6M: 4.58%
• YTD: 11.27%
• 1Y: 25.04%
• 3Y*: 8.14%
• 5Y*: 3.59%
• 10Y*: 10.57%
• ALL TIME*: 0.72%

CAAAX

• 1D: 1.76%
• 1M: -0.86%
• 6M: 7.51%
• YTD: 9.81%
• 1Y: 19.44%
• 3Y*: 13.29%
• 5Y*: 6.85%
• 10Y*: 10.47%
• ALL TIME*: 7.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAAAX Calvert Growth Allocation Fund	$0.00	$0.00	$0.00
CGAEX Calvert Global Energy Solutions Fund Class A	$0.00	$0.00	$0.00

CGAEX vs. CAAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGAEX Calvert Global Energy Solutions Fund Class A	11.27%	32.27%	-7.33%	5.40%	-17.66%	6.50%	61.15%	33.16%	-19.66%	29.42%
CAAAX Calvert Growth Allocation Fund	9.81%	14.93%	12.56%	15.14%	-18.26%	16.67%	18.55%	27.33%	-7.73%	20.27%

Correlation

The correlation between CGAEX and CAAAX is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.88
Correlation (All Time) Calculated using the full available price history since May 31, 2007	0.85

The correlation between CGAEX and CAAAX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

Return for Risk

CGAEX vs. CAAAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CGAEX

CGAEX Risk / Return Rank: 47
CGAEX Sharpe Ratio Rank: 48
CGAEX Sortino Ratio Rank: 44
CGAEX Omega Ratio Rank: 43
CGAEX Calmar Ratio Rank: 55
CGAEX Martin Ratio Rank: 44

CAAAX

CAAAX Risk / Return Rank: 53
CAAAX Sharpe Ratio Rank: 53
CAAAX Sortino Ratio Rank: 53
CAAAX Omega Ratio Rank: 50
CAAAX Calmar Ratio Rank: 50
CAAAX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CGAEX vs. CAAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Global Energy Solutions Fund Class A (CGAEX) and Calvert Growth Allocation Fund (CAAAX). 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.

	CGAEX	CAAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.38	-0.04
Sortino ratio: Return per unit of downside risk	1.86	1.98	-0.13
Omega ratio: Gain probability vs. loss probability	1.23	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	1.98	1.85	+0.12
Martin ratio: Return relative to average drawdown	6.37	7.91	-1.54

CGAEX vs. CAAAX - Sharpe Ratio Comparison

The current CGAEX Sharpe Ratio is 1.33, which is comparable to the CAAAX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of CGAEX and CAAAX, 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

CGAEX vs. CAAAX - Drawdown Comparison

The maximum CGAEX drawdown since its inception was -76.34%, which is greater than CAAAX's maximum drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for CGAEX and CAAAX.

Drawdown Indicators

	CGAEX	CAAAX	Difference
Max Drawdown Largest peak-to-trough decline	-76.34%	-53.45%	-22.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.06%	-9.39%	-2.67%
Max Drawdown (3Y) Largest decline over 3 years	-22.12%	-15.37%	-6.75%
Max Drawdown (5Y) Largest decline over 5 years	-33.14%	-25.90%	-7.24%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	-32.59%	-4.94%
Current Drawdown Current decline from peak	-13.30%	-1.73%	-11.57%
Average Drawdown Average peak-to-trough decline	-50.30%	-8.20%	-42.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	2.20%	+1.54%

Volatility

CGAEX vs. CAAAX - Volatility Comparison

Calvert Global Energy Solutions Fund Class A (CGAEX) has a higher volatility of 5.40% compared to Calvert Growth Allocation Fund (CAAAX) at 3.53%. This indicates that CGAEX's price experiences larger fluctuations and is considered to be riskier than CAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGAEX	CAAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	3.53%	+1.87%
Volatility (6M) Calculated over the trailing 6-month period	14.80%	10.63%	+4.17%
Volatility (1Y) Calculated over the trailing 1-year period	17.93%	12.66%	+5.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.41%	14.30%	+5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	15.48%	+4.09%

CGAEX vs. CAAAX - Expense Ratio Comparison

CGAEX has a 1.24% expense ratio, which is higher than CAAAX's 0.43% expense ratio.

Dividends

CGAEX vs. CAAAX - Dividend Comparison

CGAEX's dividend yield for the trailing twelve months is around 0.46%, less than CAAAX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAAAX Calvert Growth Allocation Fund	3.64%	4.00%	2.50%	4.47%	2.81%	3.68%	3.34%	3.53%	6.44%	5.57%	5.13%	15.27%
CGAEX Calvert Global Energy Solutions Fund Class A	0.46%	0.51%	0.91%	0.83%	0.65%	0.26%	0.66%	1.01%	1.69%	1.19%	1.06%	0.20%

Frequently Asked Questions

Can I hold both CGAEX and CAAAX in my portfolio?

CGAEX and CAAAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGAEX or CAAAX?

CGAEX has higher volatility (5.40%) compared to CAAAX (3.53%). In terms of maximum drawdown, CGAEX dropped -76.34% vs CAAAX's -53.45%.

Which has better risk-adjusted returns?

CAAAX currently has the higher Sharpe Ratio (1.38 vs 1.33), 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.