CGJIX vs. CMCIX

Last updated Jun 24, 2026

CGJIX (Calvert US Large-Cap Growth Responsible Index Fund) and CMCIX (Calvert Small/Mid-Cap Fund Class I) are both mutual funds - CGJIX is a Large Cap Growth Equities fund managed by Calvert Research and Management, while CMCIX is a Small Cap Growth Equities fund actively managed by Calvert Research and Management. Over the past year, CGJIX returned 25.06% vs 3.42% for CMCIX. A 0.64 correlation means they provide meaningful diversification when combined. CGJIX charges 0.24%/yr vs 1.26%/yr for CMCIX.

Performance

CGJIX vs. CMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Large-Cap Growth Responsible Index Fund (CGJIX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGJIX achieves a 9.65% return, which is significantly higher than CMCIX's 5.94% return.

CGJIX

• 1D: -0.37%
• 1M: 0.47%
• YTD: 9.65%
• 6M: 8.62%
• 1Y: 25.06%
• 3Y*: 21.34%
• 5Y*: 12.87%
• 10Y*: 18.01%

CMCIX

• 1D: -0.23%
• 1M: 3.73%
• YTD: 5.94%
• 6M: 3.85%
• 1Y: 3.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGJIX vs. CMCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	9.65%	14.56%	27.74%	9.03%
CMCIX Calvert Small/Mid-Cap Fund Class I	5.94%	-5.28%	10.46%	7.81%

Correlation

The correlation between CGJIX and CMCIX is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023	0.64

The correlation between CGJIX and CMCIX has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.

Return for Risk

CGJIX vs. CMCIX — Risk / Return Rank

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

CGJIX

CGJIX Risk / Return Rank: 45
CGJIX Sharpe Ratio Rank: 47
CGJIX Sortino Ratio Rank: 43
CGJIX Omega Ratio Rank: 43
CGJIX Calmar Ratio Rank: 42
CGJIX Martin Ratio Rank: 50

CMCIX

CMCIX Risk / Return Rank: 5
CMCIX Sharpe Ratio Rank: 5
CMCIX Sortino Ratio Rank: 5
CMCIX Omega Ratio Rank: 5
CMCIX Calmar Ratio Rank: 5
CMCIX Martin Ratio Rank: 5

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.

CGJIX vs. CMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Large-Cap Growth Responsible Index Fund (CGJIX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). 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.

	CGJIX	CMCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	0.32	+1.54
Sortino ratio: Return per unit of downside risk	2.53	0.59	+1.95
Omega ratio: Gain probability vs. loss probability	1.33	1.06	+0.26
Calmar ratio: Return relative to maximum drawdown	2.36	0.41	+1.94
Martin ratio: Return relative to average drawdown	9.77	0.96	+8.81

CGJIX vs. CMCIX - Sharpe Ratio Comparison

The current CGJIX Sharpe Ratio is 1.86, which is higher than the CMCIX Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of CGJIX and CMCIX, 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

CGJIX vs. CMCIX - Drawdown Comparison

The maximum CGJIX drawdown since its inception was -31.18%, which is greater than CMCIX's maximum drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for CGJIX and CMCIX.

Drawdown Indicators

	CGJIX	CMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.18%	-21.50%	-9.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-11.68%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-21.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.18%	—	—
Current Drawdown Current decline from peak	-2.40%	-7.09%	+4.69%
Average Drawdown Average peak-to-trough decline	-5.44%	-6.48%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	5.04%	-2.35%

Volatility

CGJIX vs. CMCIX - Volatility Comparison

Calvert US Large-Cap Growth Responsible Index Fund (CGJIX) has a higher volatility of 5.34% compared to Calvert Small/Mid-Cap Fund Class I (CMCIX) at 4.24%. This indicates that CGJIX's price experiences larger fluctuations and is considered to be riskier than CMCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGJIX	CMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	4.24%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	11.31%	10.89%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	15.39%	-1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	16.53%	+3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	16.53%	+3.56%

CGJIX vs. CMCIX - Expense Ratio Comparison

CGJIX has a 0.24% expense ratio, which is lower than CMCIX's 1.26% expense ratio.

Dividends

CGJIX vs. CMCIX - Dividend Comparison

CGJIX's dividend yield for the trailing twelve months is around 2.78%, less than CMCIX's 4.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	2.78%	3.05%	2.04%	0.53%	0.51%	1.85%	1.76%	1.64%	5.72%	2.19%	1.13%
CMCIX Calvert Small/Mid-Cap Fund Class I	4.01%	4.25%	7.13%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGJIX and CMCIX in my portfolio?

CGJIX and CMCIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGJIX or CMCIX?

CGJIX has higher volatility (5.34%) compared to CMCIX (4.24%). In terms of maximum drawdown, CGJIX dropped -31.18% vs CMCIX's -21.50%.

Which has better risk-adjusted returns?

CGJIX currently has the higher Sharpe Ratio (1.86 vs 0.32), 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.