CMAAX vs. CAAAX
CMAAX (Calvert Moderate Allocation Fund) and CAAAX (Calvert Growth Allocation Fund) are both Diversified Portfolio funds from Calvert. Over the past 10 years, CMAAX returned 7.90%/yr vs 10.47%/yr for CAAAX. Their 0.99 correlation means they have historically moved very closely together. CMAAX charges 0.40%/yr vs 0.43%/yr for CAAAX.
Performance
CMAAX vs. CAAAX - Performance Comparison
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Returns By Period
In the year-to-date period, CMAAX achieves a 6.92% return, which is significantly lower than CAAAX's 9.81% return. Over the past 10 years, CMAAX has underperformed CAAAX with an annualized return of 7.90%, while CAAAX has yielded a comparatively higher 10.47% annualized return.
CMAAX
- 1D
- 1.26%
- 1M
- -0.83%
- 6M
- 5.26%
- YTD
- 6.92%
- 1Y
- 14.37%
- 3Y*
- 10.90%
- 5Y*
- 5.12%
- 10Y*
- 7.90%
- ALL TIME*
- 6.38%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CMAAX vs. CAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMAAX Calvert Moderate Allocation Fund | 6.92% | 12.70% | 10.06% | 12.87% | -15.65% | 10.47% | 15.17% | 21.19% | -5.13% | 12.93% |
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 CMAAX and CAAAX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2005 | 0.99 |
The correlation between CMAAX and CAAAX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
CMAAX vs. CAAAX — Risk / Return Rank
CMAAX
CAAAX
CMAAX vs. CAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Moderate Allocation Fund (CMAAX) 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.
| CMAAX | CAAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 1.85 | -0.06 |
| Martin ratioReturn relative to average drawdown | 7.64 | 7.91 | -0.28 |
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Drawdowns
CMAAX vs. CAAAX - Drawdown Comparison
The maximum CMAAX drawdown since its inception was -42.64%, smaller than the maximum CAAAX drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for CMAAX and CAAAX.
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Drawdown Indicators
| CMAAX | CAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.64% | -53.45% | +10.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -9.39% | +2.06% |
Max Drawdown (3Y)Largest decline over 3 years | -11.26% | -15.37% | +4.11% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -25.90% | +3.35% |
Max Drawdown (10Y)Largest decline over 10 years | -24.42% | -32.59% | +8.17% |
Current DrawdownCurrent decline from peak | -1.50% | -1.73% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -8.20% | +2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 2.20% | -0.48% |
Volatility
CMAAX vs. CAAAX - Volatility Comparison
The current volatility for Calvert Moderate Allocation Fund (CMAAX) is 2.64%, while Calvert Growth Allocation Fund (CAAAX) has a volatility of 3.53%. This indicates that CMAAX experiences smaller price fluctuations and is considered to be less risky than CAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMAAX | CAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 3.53% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 8.07% | 10.63% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.59% | 12.66% | -3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.08% | 14.30% | -3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.09% | 15.48% | -4.39% |
CMAAX vs. CAAAX - Expense Ratio Comparison
CMAAX has a 0.40% expense ratio, which is lower than CAAAX's 0.43% expense ratio.
Dividends
CMAAX vs. CAAAX - Dividend Comparison
CMAAX's dividend yield for the trailing twelve months is around 4.30%, more 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% |
CMAAX Calvert Moderate Allocation Fund | 4.30% | 4.55% | 2.99% | 6.69% | 1.82% | 4.24% | 4.18% | 4.35% | 5.88% | 2.71% | 5.05% | 12.52% |
Frequently Asked Questions
With a correlation of 1.00, CMAAX and CAAAX 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.
CAAAX has higher volatility (3.53%) compared to CMAAX (2.64%). In terms of maximum drawdown, CMAAX dropped -42.64% vs CAAAX's -53.45%.
CAAAX currently has the higher Sharpe Ratio (1.38 vs 1.37), 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.
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