CSIEX vs. VOO

Last updated Apr 1, 2026

Compare and contrast key facts about Calvert Equity Fund (CSIEX) and Vanguard S&P 500 ETF (VOO).

CSIEX is managed by Calvert Research and Management. It was launched on Aug 24, 1987. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.

Performance

CSIEX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Equity Fund (CSIEX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

CSIEX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSIEX Calvert Equity Fund	-11.00%	7.27%	8.35%	17.93%	-17.61%	28.90%	24.26%	36.46%	5.03%	25.78%
VOO Vanguard S&P 500 ETF	-4.42%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Returns By Period

In the year-to-date period, CSIEX achieves a -11.00% return, which is significantly lower than VOO's -4.42% return. Over the past 10 years, CSIEX has underperformed VOO with an annualized return of 11.39%, while VOO has yielded a comparatively higher 14.05% annualized return.

CSIEX

• 1D: 1.14%
• 1M: -7.71%
• YTD: -11.00%
• 6M: -10.10%
• 1Y: -4.11%
• 3Y*: 5.46%
• 5Y*: 4.83%
• 10Y*: 11.39%

VOO

• 1D: 2.86%
• 1M: -5.01%
• YTD: -4.42%
• 6M: -1.84%
• 1Y: 17.67%
• 3Y*: 18.27%
• 5Y*: 11.75%
• 10Y*: 14.05%

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

CSIEX vs. VOO - Expense Ratio Comparison

CSIEX has a 0.91% expense ratio, which is higher than VOO's 0.03% expense ratio.

CSIEX

Calvert Equity Fund

VOO

Vanguard S&P 500 ETF

Return for Risk

CSIEX vs. VOO — Risk / Return Rank

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

CSIEX

CSIEX Risk / Return Rank: 3
CSIEX Sharpe Ratio Rank: 3
CSIEX Sortino Ratio Rank: 3
CSIEX Omega Ratio Rank: 3
CSIEX Calmar Ratio Rank: 3
CSIEX Martin Ratio Rank: 2

VOO

VOO Risk / Return Rank: 65
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 62
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 65
VOO Martin Ratio Rank: 75

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Equity Fund (CSIEX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio Return per unit of total volatility	-0.21	0.98	-1.19
Sortino ratio Return per unit of downside risk	-0.19	1.50	-1.69
Omega ratio Gain probability vs. loss probability	0.98	1.23	-0.25
Calmar ratio Return relative to maximum drawdown	-0.36	1.53	-1.90
Martin ratio Return relative to average drawdown	-1.20	7.29	-8.50
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. VOO - Sharpe Ratio Comparison

The current CSIEX Sharpe Ratio is -0.21, which is lower than the VOO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of CSIEX and VOO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CSIEX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	0.98	-1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.70	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.78	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.83	-0.36

Correlation

The correlation between CSIEX and VOO is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CSIEX vs. VOO - Dividend Comparison

CSIEX's dividend yield for the trailing twelve months is around 25.81%, more than VOO's 1.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSIEX Calvert Equity Fund	25.81%	22.97%	8.74%	1.79%	3.40%	3.56%	2.70%	2.87%	8.78%	8.10%	11.30%	25.62%
VOO Vanguard S&P 500 ETF	1.19%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Drawdowns

CSIEX vs. VOO - Drawdown Comparison

The maximum CSIEX drawdown since its inception was -50.81%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CSIEX and VOO.

Drawdown Indicators

	CSIEX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-50.81%	-33.99%	-16.82%
Max Drawdown (1Y) Largest decline over 1 year	-14.12%	-11.98%	-2.14%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-24.52%	-1.19%
Max Drawdown (10Y) Largest decline over 10 years	-30.50%	-33.99%	+3.49%
Current Drawdown Current decline from peak	-13.14%	-6.29%	-6.85%
Average Drawdown Average peak-to-trough decline	-6.21%	-3.72%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	2.52%	+1.74%

Volatility

CSIEX vs. VOO - Volatility Comparison

The current volatility for Calvert Equity Fund (CSIEX) is 4.14%, while Vanguard S&P 500 ETF (VOO) has a volatility of 5.29%. This indicates that CSIEX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSIEX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	5.29%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	9.44%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	18.10%	-1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	16.82%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	17.99%	-0.87%