CGBIX vs. VGSBX

Last updated Jun 4, 2026

CGBIX (Calvert Green Bond Fund) and VGSBX (VY BrandywineGLOBAL - Bond Portfolio) are both Intermediate Core-Plus Bond funds. Over the past 10 years, CGBIX returned 1.89%/yr vs 2.81%/yr for VGSBX. Their correlation of 0.81 suggests significant overlap in exposure. CGBIX charges 0.48%/yr vs 0.55%/yr for VGSBX.

Performance

CGBIX vs. VGSBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Green Bond Fund (CGBIX) and VY BrandywineGLOBAL - Bond Portfolio (VGSBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGBIX achieves a 0.40% return, which is significantly lower than VGSBX's 0.96% return. Over the past 10 years, CGBIX has underperformed VGSBX with an annualized return of 1.89%, while VGSBX has yielded a comparatively higher 2.81% annualized return.

CGBIX

• 1D: 0.00%
• 1M: 0.52%
• YTD: 0.40%
• 6M: 0.54%
• 1Y: 5.52%
• 3Y*: 4.68%
• 5Y*: 0.40%
• 10Y*: 1.89%

VGSBX

• 1D: 0.00%
• 1M: 0.42%
• YTD: 0.96%
• 6M: 0.63%
• 1Y: 5.76%
• 3Y*: 3.35%
• 5Y*: 0.14%
• 10Y*: 2.81%

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

CGBIX vs. VGSBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGBIX Calvert Green Bond Fund	0.40%	7.90%	2.00%	6.14%	-13.08%	-1.66%	7.02%	8.14%	0.68%	3.17%
VGSBX VY BrandywineGLOBAL - Bond Portfolio	0.96%	6.12%	0.68%	5.65%	-11.86%	1.15%	17.48%	10.01%	-1.55%	2.93%

Correlation

The correlation between CGBIX and VGSBX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.81

The correlation between CGBIX and VGSBX shifts across timeframes, from 0.76 (1 year) to 0.87 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CGBIX vs. VGSBX — Risk / Return Rank

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

CGBIX

CGBIX Risk / Return Rank: 30
CGBIX Sharpe Ratio Rank: 31
CGBIX Sortino Ratio Rank: 33
CGBIX Omega Ratio Rank: 30
CGBIX Calmar Ratio Rank: 29
CGBIX Martin Ratio Rank: 25

VGSBX

VGSBX Risk / Return Rank: 43
VGSBX Sharpe Ratio Rank: 21
VGSBX Sortino Ratio Rank: 25
VGSBX Omega Ratio Rank: 33
VGSBX Calmar Ratio Rank: 79
VGSBX Martin Ratio Rank: 56

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. VGSBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Green Bond Fund (CGBIX) and VY BrandywineGLOBAL - Bond Portfolio (VGSBX). 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.

	CGBIX	VGSBX	Difference
Sharpe ratio Return per unit of total volatility	1.60	1.34	+0.26
Sortino ratio Return per unit of downside risk	2.42	2.09	+0.33
Omega ratio Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio Return relative to maximum drawdown	2.01	3.61	-1.60
Martin ratio Return relative to average drawdown	6.10	11.30	-5.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGBIX vs. VGSBX - Sharpe Ratio Comparison

The current CGBIX Sharpe Ratio is 1.60, which is comparable to the VGSBX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of CGBIX and VGSBX, 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

	CGBIX	VGSBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	1.34	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.02	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.46	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.50	+0.08

Drawdowns

CGBIX vs. VGSBX - Drawdown Comparison

The maximum CGBIX drawdown since its inception was -17.46%, roughly equal to the maximum VGSBX drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for CGBIX and VGSBX.

Drawdown Indicators

	CGBIX	VGSBX	Difference
Max Drawdown Largest peak-to-trough decline	-17.46%	-18.20%	+0.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-1.79%	-0.96%
Max Drawdown (3Y) Largest decline over 3 years	-5.10%	-10.28%	+5.18%
Max Drawdown (5Y) Largest decline over 5 years	-17.46%	-18.20%	+0.74%
Max Drawdown (10Y) Largest decline over 10 years	-17.46%	-18.20%	+0.74%
Current Drawdown Current decline from peak	-1.23%	-0.11%	-1.12%
Average Drawdown Average peak-to-trough decline	-3.52%	-3.45%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.66%	+0.25%

Volatility

CGBIX vs. VGSBX - Volatility Comparison

The current volatility for Calvert Green Bond Fund (CGBIX) is 1.32%, while VY BrandywineGLOBAL - Bond Portfolio (VGSBX) has a volatility of 2.40%. This indicates that CGBIX experiences smaller price fluctuations and is considered to be less risky than VGSBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGBIX	VGSBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	2.40%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	2.74%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	4.84%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.96%	7.93%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.07%	6.24%	-2.17%

CGBIX vs. VGSBX - Expense Ratio Comparison

CGBIX has a 0.48% expense ratio, which is lower than VGSBX's 0.55% expense ratio.

Dividends

CGBIX vs. VGSBX - Dividend Comparison

CGBIX's dividend yield for the trailing twelve months is around 3.76%, less than VGSBX's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGBIX Calvert Green Bond Fund	3.76%	4.09%	3.49%	2.37%	1.86%	1.99%	1.85%	2.45%	2.26%	2.54%	3.22%	2.01%
VGSBX VY BrandywineGLOBAL - Bond Portfolio	3.89%	3.93%	4.56%	2.18%	6.85%	8.48%	2.48%	1.89%	2.29%	2.31%	2.34%	0.00%

Frequently Asked Questions

Can I hold both CGBIX and VGSBX in my portfolio?

CGBIX and VGSBX have a correlation of 0.76, 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 VGSBX?

VGSBX has higher volatility (2.40%) compared to CGBIX (1.32%). In terms of maximum drawdown, CGBIX dropped -17.46% vs VGSBX's -18.20%.

Which has better risk-adjusted returns?

CGBIX currently has the higher Sharpe Ratio (1.60 vs 1.34), 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.