CGBIX vs. CDHIX

Last updated Jun 24, 2026

CGBIX (Calvert Green Bond Fund) and CDHIX (Calvert International Responsible Index Fund) are both mutual funds - CGBIX is a Intermediate Core-Plus Bond fund managed by Calvert Research and Management, while CDHIX is a Foreign Large Cap Equities fund managed by Calvert Research and Management. Over the past 10 years, CGBIX returned 1.82%/yr vs 11.96%/yr for CDHIX. At a 0.08 correlation, their price movements are largely independent. CGBIX charges 0.48%/yr vs 0.29%/yr for CDHIX.

Performance

CGBIX vs. CDHIX - Performance Comparison

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

Returns By Period

In the year-to-date period, CGBIX achieves a 0.12% return, which is significantly lower than CDHIX's 21.89% return. Over the past 10 years, CGBIX has underperformed CDHIX with an annualized return of 1.82%, while CDHIX has yielded a comparatively higher 11.96% annualized return.

CGBIX

• 1D: -0.28%
• 1M: 0.59%
• YTD: 0.12%
• 6M: 0.67%
• 1Y: 4.33%
• 3Y*: 4.68%
• 5Y*: 0.29%
• 10Y*: 1.82%

CDHIX

• 1D: 0.26%
• 1M: 5.99%
• YTD: 21.89%
• 6M: 21.79%
• 1Y: 40.00%
• 3Y*: 22.51%
• 5Y*: 11.23%
• 10Y*: 11.96%

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

CGBIX vs. CDHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGBIX Calvert Green Bond Fund	0.12%	7.90%	2.00%	6.14%	-13.08%	-1.66%	7.02%	8.14%	0.68%	3.17%
CDHIX Calvert International Responsible Index Fund	21.89%	33.29%	5.04%	20.03%	-19.22%	12.57%	15.33%	24.38%	-13.67%	25.31%

Correlation

The correlation between CGBIX and CDHIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.08

Over the past year, CGBIX and CDHIX have become more correlated (0.41) than their long-term average of 0.08, meaning their price movements have been converging.

Return for Risk

CGBIX vs. CDHIX — Risk / Return Rank

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

CGBIX

CGBIX Risk / Return Rank: 24
CGBIX Sharpe Ratio Rank: 25
CGBIX Sortino Ratio Rank: 26
CGBIX Omega Ratio Rank: 24
CGBIX Calmar Ratio Rank: 24
CGBIX Martin Ratio Rank: 21

CDHIX

CDHIX Risk / Return Rank: 74
CDHIX Sharpe Ratio Rank: 78
CDHIX Sortino Ratio Rank: 69
CDHIX Omega Ratio Rank: 72
CDHIX Calmar Ratio Rank: 76
CDHIX 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.

CGBIX vs. CDHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Green Bond Fund (CGBIX) and Calvert International Responsible Index Fund (CDHIX). 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.

	CGBIX	CDHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.38	-1.05
Sortino ratio: Return per unit of downside risk	2.00	3.16	-1.16
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.20
Calmar ratio: Return relative to maximum drawdown	1.66	3.27	-1.61
Martin ratio: Return relative to average drawdown	4.74	12.84	-8.10

CGBIX vs. CDHIX - Sharpe Ratio Comparison

The current CGBIX Sharpe Ratio is 1.33, which is lower than the CDHIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of CGBIX and CDHIX, 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

CGBIX vs. CDHIX - Drawdown Comparison

The maximum CGBIX drawdown since its inception was -17.46%, smaller than the maximum CDHIX drawdown of -32.32%. Use the drawdown chart below to compare losses from any high point for CGBIX and CDHIX.

Drawdown Indicators

	CGBIX	CDHIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.46%	-32.32%	+14.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-12.61%	+9.86%
Max Drawdown (3Y) Largest decline over 3 years	-5.10%	-13.41%	+8.31%
Max Drawdown (5Y) Largest decline over 5 years	-17.46%	-32.01%	+14.55%
Max Drawdown (10Y) Largest decline over 10 years	-17.46%	-32.32%	+14.86%
Current Drawdown Current decline from peak	-1.51%	0.00%	-1.51%
Average Drawdown Average peak-to-trough decline	-3.51%	-6.30%	+2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	3.21%	-2.25%

Volatility

CGBIX vs. CDHIX - Volatility Comparison

The current volatility for Calvert Green Bond Fund (CGBIX) is 1.06%, while Calvert International Responsible Index Fund (CDHIX) has a volatility of 7.29%. This indicates that CGBIX experiences smaller price fluctuations and is considered to be less risky than CDHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGBIX	CDHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	7.29%	-6.23%
Volatility (6M) Calculated over the trailing 6-month period	2.65%	15.00%	-12.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	17.36%	-13.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.97%	16.53%	-11.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.08%	16.59%	-12.51%

CGBIX vs. CDHIX - Expense Ratio Comparison

CGBIX has a 0.48% expense ratio, which is higher than CDHIX's 0.29% expense ratio.

Dividends

CGBIX vs. CDHIX - Dividend Comparison

CGBIX's dividend yield for the trailing twelve months is around 3.77%, more than CDHIX's 2.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDHIX Calvert International Responsible Index Fund	2.78%	3.39%	2.87%	2.00%	1.92%	2.00%	1.25%	1.72%	2.25%	1.35%	2.01%	0.00%
CGBIX Calvert Green Bond Fund	3.77%	4.09%	3.49%	2.37%	1.86%	1.99%	1.85%	2.45%	2.26%	2.54%	3.22%	2.01%

Frequently Asked Questions

Can I hold both CGBIX and CDHIX in my portfolio?

CGBIX and CDHIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGBIX or CDHIX?

CDHIX has higher volatility (7.29%) compared to CGBIX (1.06%). In terms of maximum drawdown, CGBIX dropped -17.46% vs CDHIX's -32.32%.

Which has better risk-adjusted returns?

CDHIX currently has the higher Sharpe Ratio (2.38 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.