CMAAX vs. CSIEX
CMAAX (Calvert Moderate Allocation Fund) and CSIEX (Calvert Equity Fund) are both mutual funds - CMAAX is a Diversified Portfolio fund managed by Calvert, while CSIEX is a Large Cap Growth Equities fund managed by Calvert. Over the past 10 years, CMAAX returned 7.90%/yr vs 11.84%/yr for CSIEX. Their correlation of 0.90 means they have usually moved in the same direction. CMAAX charges 0.40%/yr vs 0.91%/yr for CSIEX.
Performance
CMAAX vs. CSIEX - Performance Comparison
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Returns By Period
In the year-to-date period, CMAAX achieves a 6.92% return, which is significantly higher than CSIEX's -4.38% return. Over the past 10 years, CMAAX has underperformed CSIEX with an annualized return of 7.90%, while CSIEX has yielded a comparatively higher 11.84% 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%
CSIEX
- 1D
- -0.83%
- 1M
- 2.53%
- 6M
- -3.13%
- YTD
- -4.38%
- 1Y
- -1.72%
- 3Y*
- 5.38%
- 5Y*
- 3.27%
- 10Y*
- 11.84%
- ALL TIME*
- 8.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
CSIEX Calvert Equity Fund | $0.00 | $0.00 | $0.00 |
CMAAX vs. CSIEX - 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% |
CSIEX Calvert Equity Fund | -4.38% | 7.27% | 8.35% | 17.93% | -17.61% | 28.90% | 24.26% | 36.46% | 5.03% | 25.78% |
Correlation
The correlation between CMAAX and CSIEX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2005 | 0.90 |
Over the past year, the correlation between CMAAX and CSIEX has dropped to 0.54 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
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Return for Risk
CMAAX vs. CSIEX — Risk / Return Rank
CMAAX
CSIEX
CMAAX vs. CSIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Moderate Allocation Fund (CMAAX) and Calvert Equity Fund (CSIEX). 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 | CSIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.98 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | -0.21 | +2.00 |
| Martin ratioReturn relative to average drawdown | 7.64 | -0.41 | +8.05 |
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Drawdowns
CMAAX vs. CSIEX - Drawdown Comparison
The maximum CMAAX drawdown since its inception was -42.64%, smaller than the maximum CSIEX drawdown of -50.81%. Use the drawdown chart below to compare losses from any high point for CMAAX and CSIEX.
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Drawdown Indicators
| CMAAX | CSIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.64% | -50.81% | +8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -14.28% | +6.95% |
Max Drawdown (3Y)Largest decline over 3 years | -11.26% | -14.87% | +3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -25.71% | +3.16% |
Max Drawdown (10Y)Largest decline over 10 years | -24.42% | -30.50% | +6.08% |
Current DrawdownCurrent decline from peak | -1.50% | -6.68% | +5.18% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -6.25% | +0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 7.25% | -5.53% |
Volatility
CMAAX vs. CSIEX - Volatility Comparison
The current volatility for Calvert Moderate Allocation Fund (CMAAX) is 2.64%, while Calvert Equity Fund (CSIEX) has a volatility of 5.58%. This indicates that CMAAX experiences smaller price fluctuations and is considered to be less risky than CSIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMAAX | CSIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 5.58% | -2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 8.07% | 11.19% | -3.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.59% | 13.72% | -4.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.08% | 16.46% | -5.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.09% | 17.22% | -6.13% |
CMAAX vs. CSIEX - Expense Ratio Comparison
CMAAX has a 0.40% expense ratio, which is lower than CSIEX's 0.91% expense ratio.
Dividends
CMAAX vs. CSIEX - Dividend Comparison
CMAAX's dividend yield for the trailing twelve months is around 4.30%, less than CSIEX's 24.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
CSIEX Calvert Equity Fund | 24.02% | 22.97% | 8.74% | 1.79% | 3.40% | 3.56% | 2.70% | 2.87% | 8.78% | 8.10% | 11.30% | 25.62% |
Frequently Asked Questions
CMAAX and CSIEX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSIEX has higher volatility (5.58%) compared to CMAAX (2.64%). In terms of maximum drawdown, CMAAX dropped -42.64% vs CSIEX's -50.81%.
CMAAX currently has the higher Sharpe Ratio (1.37 vs -0.22), 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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