CGAEX vs. CAEIX

Last updated Jun 4, 2026

CGAEX (Calvert Global Energy Solutions Fund Class A) and CAEIX (Calvert Global Energy Solutions Fund) are both mutual funds - CGAEX is a Energy Equities fund managed by Calvert Research and Management, while CAEIX is a Global Equities fund managed by Calvert Research and Management. Over the past 10 years, CGAEX returned 11.54%/yr vs 11.83%/yr for CAEIX. With a 1.00 correlation, they move nearly in lockstep. CGAEX charges 1.24%/yr vs 0.99%/yr for CAEIX.

Performance

CGAEX vs. CAEIX - 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 Global Energy Solutions Fund (CAEIX). 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 CGAEX having a 22.98% return and CAEIX slightly higher at 23.10%. Both investments have delivered pretty close results over the past 10 years, with CGAEX having a 11.54% annualized return and CAEIX not far ahead at 11.83%.

CGAEX

• 1D: 1.26%
• 1M: 4.19%
• YTD: 22.98%
• 6M: 23.45%
• 1Y: 48.72%
• 3Y*: 13.64%
• 5Y*: 6.29%
• 10Y*: 11.54%

CAEIX

• 1D: 1.24%
• 1M: 4.18%
• YTD: 23.10%
• 6M: 23.57%
• 1Y: 49.07%
• 3Y*: 13.90%
• 5Y*: 6.54%
• 10Y*: 11.83%

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

CGAEX vs. CAEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGAEX Calvert Global Energy Solutions Fund Class A	22.98%	32.27%	-7.33%	5.40%	-17.66%	6.50%	61.15%	33.16%	-19.66%	29.42%
CAEIX Calvert Global Energy Solutions Fund	23.10%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	29.65%

Correlation

The correlation between CGAEX and CAEIX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007	1.00

The correlation between CGAEX and CAEIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

CGAEX vs. CAEIX — Risk / Return Rank

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

CGAEX

CGAEX Risk / Return Rank: 88
CGAEX Sharpe Ratio Rank: 91
CGAEX Sortino Ratio Rank: 83
CGAEX Omega Ratio Rank: 79
CGAEX Calmar Ratio Rank: 95
CGAEX Martin Ratio Rank: 93

CAEIX

CAEIX Risk / Return Rank: 89
CAEIX Sharpe Ratio Rank: 92
CAEIX Sortino Ratio Rank: 84
CAEIX Omega Ratio Rank: 80
CAEIX Calmar Ratio Rank: 95
CAEIX Martin Ratio Rank: 94

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.

CGAEX vs. CAEIX - 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 Global Energy Solutions Fund (CAEIX). 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.

	CGAEX	CAEIX	Difference
Sharpe ratio: Return per unit of total volatility	3.06	3.08	-0.02
Sortino ratio: Return per unit of downside risk	3.91	3.95	-0.03
Omega ratio: Gain probability vs. loss probability	1.52	1.52	0.00
Calmar ratio: Return relative to maximum drawdown	5.98	6.03	-0.05
Martin ratio: Return relative to average drawdown	20.62	20.83	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGAEX vs. CAEIX - Sharpe Ratio Comparison

The current CGAEX Sharpe Ratio is 3.06, which is comparable to the CAEIX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of CGAEX and CAEIX, 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

	CGAEX	CAEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	3.08	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.34	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.60	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.07	-0.02

Drawdowns

CGAEX vs. CAEIX - Drawdown Comparison

The maximum CGAEX drawdown since its inception was -76.34%, roughly equal to the maximum CAEIX drawdown of -75.81%. Use the drawdown chart below to compare losses from any high point for CGAEX and CAEIX.

Drawdown Indicators

	CGAEX	CAEIX	Difference
Max Drawdown Largest peak-to-trough decline	-76.34%	-75.81%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-8.39%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.93%	-24.57%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-33.14%	-32.58%	-0.56%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	-37.54%	+0.01%
Current Drawdown Current decline from peak	-4.17%	0.00%	-4.17%
Average Drawdown Average peak-to-trough decline	-50.64%	-48.64%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	2.42%	+0.01%

Volatility

CGAEX vs. CAEIX - Volatility Comparison

Calvert Global Energy Solutions Fund Class A (CGAEX) and Calvert Global Energy Solutions Fund (CAEIX) have volatilities of 5.83% and 5.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGAEX	CAEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	5.76%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.93%	12.91%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	16.43%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.16%	19.18%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	19.69%	+0.02%

CGAEX vs. CAEIX - Expense Ratio Comparison

CGAEX has a 1.24% expense ratio, which is higher than CAEIX's 0.99% expense ratio.

Dividends

CGAEX vs. CAEIX - Dividend Comparison

CGAEX's dividend yield for the trailing twelve months is around 0.42%, less than CAEIX's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAEIX Calvert Global Energy Solutions Fund	0.59%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%
CGAEX Calvert Global Energy Solutions Fund Class A	0.42%	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 CAEIX in my portfolio?

With a correlation of 1.00, CGAEX and CAEIX 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, CGAEX or CAEIX?

CGAEX has higher volatility (5.83%) compared to CAEIX (5.76%). In terms of maximum drawdown, CGAEX dropped -76.34% vs CAEIX's -75.81%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (3.08 vs 3.06), 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.