CMJIX vs. CGJIX

Last updated Jun 4, 2026

CMJIX (Calvert US Mid-Cap Core Responsible Index Fund) and CGJIX (Calvert US Large-Cap Growth Responsible Index Fund) are both mutual funds - CMJIX is a Mid Cap Blend Equities fund managed by Calvert Research and Management, while CGJIX is a Large Cap Growth Equities fund managed by Calvert Research and Management. Over the past 10 years, CMJIX returned 11.92%/yr vs 17.80%/yr for CGJIX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.24% expense ratio.

Performance

CMJIX vs. CGJIX - Performance Comparison

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

Returns By Period

In the year-to-date period, CMJIX achieves a 15.46% return, which is significantly higher than CGJIX's 12.35% return. Over the past 10 years, CMJIX has underperformed CGJIX with an annualized return of 11.92%, while CGJIX has yielded a comparatively higher 17.80% annualized return.

CMJIX

• 1D: 1.33%
• 1M: 6.21%
• YTD: 15.46%
• 6M: 15.62%
• 1Y: 25.72%
• 3Y*: 16.41%
• 5Y*: 7.39%
• 10Y*: 11.92%

CGJIX

• 1D: 0.13%
• 1M: 6.98%
• YTD: 12.35%
• 6M: 11.64%
• 1Y: 28.82%
• 3Y*: 23.19%
• 5Y*: 14.53%
• 10Y*: 17.80%

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

CMJIX vs. CGJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMJIX Calvert US Mid-Cap Core Responsible Index Fund	15.46%	9.41%	12.53%	15.25%	-19.10%	21.27%	24.04%	31.03%	-9.21%	19.13%
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	12.35%	14.56%	27.74%	36.66%	-26.84%	26.13%	38.69%	35.29%	0.74%	27.39%

Correlation

The correlation between CMJIX and CGJIX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.85

The correlation between CMJIX and CGJIX shifts across timeframes, from 0.74 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CMJIX vs. CGJIX — Risk / Return Rank

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

CMJIX

CMJIX Risk / Return Rank: 48
CMJIX Sharpe Ratio Rank: 43
CMJIX Sortino Ratio Rank: 44
CMJIX Omega Ratio Rank: 40
CMJIX Calmar Ratio Rank: 57
CMJIX Martin Ratio Rank: 58

CGJIX

CGJIX Risk / Return Rank: 53
CGJIX Sharpe Ratio Rank: 56
CGJIX Sortino Ratio Rank: 51
CGJIX Omega Ratio Rank: 50
CGJIX Calmar Ratio Rank: 50
CGJIX Martin Ratio Rank: 57

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.

CMJIX vs. CGJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Mid-Cap Core Responsible Index Fund (CMJIX) and Calvert US Large-Cap Growth Responsible Index Fund (CGJIX). 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.

	CMJIX	CGJIX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.22	-0.30
Sortino ratio: Return per unit of downside risk	2.80	3.01	-0.22
Omega ratio: Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio: Return relative to maximum drawdown	2.88	2.68	+0.20
Martin ratio: Return relative to average drawdown	11.62	11.47	+0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMJIX vs. CGJIX - Sharpe Ratio Comparison

The current CMJIX Sharpe Ratio is 1.92, which is comparable to the CGJIX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of CMJIX and CGJIX, 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

	CMJIX	CGJIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.22	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.74	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.89	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.88	-0.25

Drawdowns

CMJIX vs. CGJIX - Drawdown Comparison

The maximum CMJIX drawdown since its inception was -38.09%, which is greater than CGJIX's maximum drawdown of -31.18%. Use the drawdown chart below to compare losses from any high point for CMJIX and CGJIX.

Drawdown Indicators

	CMJIX	CGJIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.09%	-31.18%	-6.91%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-11.15%	+1.77%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-21.90%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-28.13%	-31.18%	+3.05%
Max Drawdown (10Y) Largest decline over 10 years	-38.09%	-31.18%	-6.91%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.24%	-5.46%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.60%	-0.28%

Volatility

CMJIX vs. CGJIX - Volatility Comparison

Calvert US Mid-Cap Core Responsible Index Fund (CMJIX) has a higher volatility of 4.05% compared to Calvert US Large-Cap Growth Responsible Index Fund (CGJIX) at 3.38%. This indicates that CMJIX's price experiences larger fluctuations and is considered to be riskier than CGJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMJIX	CGJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	3.38%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	10.41%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	13.49%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.61%	19.79%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	20.04%	-0.47%

CMJIX vs. CGJIX - Expense Ratio Comparison

Both CMJIX and CGJIX have an expense ratio of 0.24%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CMJIX vs. CGJIX - Dividend Comparison

CMJIX's dividend yield for the trailing twelve months is around 3.98%, more than CGJIX's 2.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CGJIX Calvert US Large-Cap Growth Responsible Index Fund	2.71%	3.05%	2.04%	0.53%	0.51%	1.85%	1.76%	1.64%	5.72%	2.19%	1.13%
CMJIX Calvert US Mid-Cap Core Responsible Index Fund	3.98%	4.59%	1.14%	1.06%	0.99%	2.78%	2.60%	1.85%	3.19%	2.85%	1.99%

Frequently Asked Questions

Can I hold both CMJIX and CGJIX in my portfolio?

CMJIX and CGJIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMJIX or CGJIX?

CMJIX has higher volatility (4.05%) compared to CGJIX (3.38%). In terms of maximum drawdown, CMJIX dropped -38.09% vs CGJIX's -31.18%.

Which has better risk-adjusted returns?

CGJIX currently has the higher Sharpe Ratio (2.22 vs 1.92), 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.