CSIEX vs. CSIFX

Last updated Jun 4, 2026

CSIEX (Calvert Equity Fund) and CSIFX (Calvert Balanced Fund) are both mutual funds - CSIEX is a Large Cap Growth Equities fund managed by Calvert Research and Management, while CSIFX is a Diversified Portfolio fund managed by Calvert Research and Management. Over the past 10 years, CSIEX returned 11.54%/yr vs 9.55%/yr for CSIFX. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.91% expense ratio.

Performance

CSIEX vs. CSIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Equity Fund (CSIEX) and Calvert Balanced Fund (CSIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSIEX achieves a -9.20% return, which is significantly lower than CSIFX's 4.11% return. Over the past 10 years, CSIEX has outperformed CSIFX with an annualized return of 11.54%, while CSIFX has yielded a comparatively lower 9.55% annualized return.

CSIEX

• 1D: -1.58%
• 1M: -1.43%
• YTD: -9.20%
• 6M: -8.41%
• 1Y: -6.46%
• 3Y*: 5.80%
• 5Y*: 4.09%
• 10Y*: 11.54%

CSIFX

• 1D: 0.04%
• 1M: 2.44%
• YTD: 4.11%
• 6M: 3.75%
• 1Y: 14.48%
• 3Y*: 14.57%
• 5Y*: 7.98%
• 10Y*: 9.55%

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

CSIEX vs. CSIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSIEX Calvert Equity Fund	-9.20%	7.27%	8.35%	17.93%	-17.61%	28.90%	24.26%	36.46%	5.03%	25.78%
CSIFX Calvert Balanced Fund	4.11%	11.32%	18.96%	16.35%	-15.33%	14.30%	15.43%	23.71%	-2.75%	10.72%

Correlation

The correlation between CSIEX and CSIFX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 25, 1987	0.90

Over the past year, the correlation between CSIEX and CSIFX has dropped to 0.65 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

CSIEX vs. CSIFX — Risk / Return Rank

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

CSIEX

CSIEX Risk / Return Rank: 1
CSIEX Sharpe Ratio Rank: 1
CSIEX Sortino Ratio Rank: 1
CSIEX Omega Ratio Rank: 1
CSIEX Calmar Ratio Rank: 1
CSIEX Martin Ratio Rank: 1

CSIFX

CSIFX Risk / Return Rank: 34
CSIFX Sharpe Ratio Rank: 36
CSIFX Sortino Ratio Rank: 36
CSIFX Omega Ratio Rank: 36
CSIFX Calmar Ratio Rank: 25
CSIFX Martin Ratio Rank: 37

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.

CSIEX vs. CSIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Equity Fund (CSIEX) and Calvert Balanced Fund (CSIFX). 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.

	CSIEX	CSIFX	Difference
Sharpe ratio: Return per unit of total volatility	-0.48	1.75	-2.23
Sortino ratio: Return per unit of downside risk	-0.58	2.51	-3.10
Omega ratio: Gain probability vs. loss probability	0.93	1.32	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.42	1.86	-2.27
Martin ratio: Return relative to average drawdown	-0.99	8.07	-9.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSIEX vs. CSIFX - Sharpe Ratio Comparison

The current CSIEX Sharpe Ratio is -0.48, which is lower than the CSIFX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of CSIEX and CSIFX, 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

	CSIEX	CSIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	1.75	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.74	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.87	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.70	-0.22

Drawdowns

CSIEX vs. CSIFX - Drawdown Comparison

The maximum CSIEX drawdown since its inception was -50.81%, which is greater than CSIFX's maximum drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for CSIEX and CSIFX.

Drawdown Indicators

	CSIEX	CSIFX	Difference
Max Drawdown Largest peak-to-trough decline	-50.81%	-38.68%	-12.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.12%	-7.98%	-6.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.87%	-11.86%	-3.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-19.95%	-5.76%
Max Drawdown (10Y) Largest decline over 10 years	-30.50%	-23.77%	-6.73%
Current Drawdown Current decline from peak	-11.38%	0.00%	-11.38%
Average Drawdown Average peak-to-trough decline	-6.23%	-5.30%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.93%	1.83%	+4.10%

Volatility

CSIEX vs. CSIFX - Volatility Comparison

Calvert Equity Fund (CSIEX) has a higher volatility of 3.95% compared to Calvert Balanced Fund (CSIFX) at 2.37%. This indicates that CSIEX's price experiences larger fluctuations and is considered to be riskier than CSIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSIEX	CSIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.37%	+1.58%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	6.74%	+2.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	8.45%	+3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	10.89%	+5.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	11.07%	+6.09%

CSIEX vs. CSIFX - Expense Ratio Comparison

Both CSIEX and CSIFX have an expense ratio of 0.91%.

Dividends

CSIEX vs. CSIFX - Dividend Comparison

CSIEX's dividend yield for the trailing twelve months is around 25.29%, more than CSIFX's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSIEX Calvert Equity Fund	25.29%	22.97%	8.74%	1.79%	3.40%	3.56%	2.70%	2.87%	8.78%	8.10%	11.30%	25.62%
CSIFX Calvert Balanced Fund	4.29%	4.76%	5.23%	2.37%	2.32%	7.61%	2.43%	3.45%	5.25%	7.41%	2.68%	12.56%

Frequently Asked Questions

Can I hold both CSIEX and CSIFX in my portfolio?

CSIEX and CSIFX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSIEX or CSIFX?

CSIEX has higher volatility (3.95%) compared to CSIFX (2.37%). In terms of maximum drawdown, CSIEX dropped -50.81% vs CSIFX's -38.68%.

Which has better risk-adjusted returns?

CSIFX currently has the higher Sharpe Ratio (1.75 vs -0.48), 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.