CSIFX vs. CAAAX

Last updated Aug 1, 2026

CSIFX (Calvert Balanced Fund) and CAAAX (Calvert Growth Allocation Fund) are both Diversified Portfolio funds from Calvert. Over the past 10 years, CSIFX returned 9.13%/yr vs 10.47%/yr for CAAAX. Their correlation of 0.93 means they have usually moved in the same direction. CSIFX charges 0.91%/yr vs 0.43%/yr for CAAAX.

Performance

CSIFX vs. CAAAX - Performance Comparison

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

Returns By Period

In the year-to-date period, CSIFX achieves a 2.66% return, which is significantly lower than CAAAX's 9.81% return. Over the past 10 years, CSIFX has underperformed CAAAX with an annualized return of 9.13%, while CAAAX has yielded a comparatively higher 10.47% annualized return.

CSIFX

• 1D: 1.60%
• 1M: -0.21%
• 6M: 2.51%
• YTD: 2.66%
• 1Y: 8.55%
• 3Y*: 12.49%
• 5Y*: 6.84%
• 10Y*: 9.13%
• ALL TIME*: 7.29%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAAAX Calvert Growth Allocation Fund	$0.00	$0.00	$0.00
CSIFX Calvert Balanced Fund	$0.00	$0.00	$0.00

CSIFX vs. CAAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSIFX Calvert Balanced Fund	2.66%	11.32%	18.96%	16.35%	-15.33%	14.30%	15.43%	23.71%	-2.75%	10.72%
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 CSIFX and CAAAX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jun 30, 2005	0.93

The correlation between CSIFX and CAAAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

CSIFX vs. CAAAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CSIFX

CSIFX Risk / Return Rank: 23
CSIFX Sharpe Ratio Rank: 23
CSIFX Sortino Ratio Rank: 23
CSIFX Omega Ratio Rank: 22
CSIFX Calmar Ratio Rank: 20
CSIFX Martin Ratio Rank: 27

CAAAX

CAAAX Risk / Return Rank: 53
CAAAX Sharpe Ratio Rank: 53
CAAAX Sortino Ratio Rank: 53
CAAAX Omega Ratio Rank: 50
CAAAX Calmar Ratio Rank: 50
CAAAX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CSIFX vs. CAAAX - Risk-Adjusted Trends Comparison

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

	CSIFX	CAAAX	Difference
Sharpe ratio: Return per unit of total volatility	0.82	1.38	-0.56
Sortino ratio: Return per unit of downside risk	1.21	1.98	-0.77
Omega ratio: Gain probability vs. loss probability	1.15	1.25	-0.10
Calmar ratio: Return relative to maximum drawdown	0.95	1.85	-0.90
Martin ratio: Return relative to average drawdown	3.95	7.91	-3.97

CSIFX vs. CAAAX - Sharpe Ratio Comparison

The current CSIFX Sharpe Ratio is 0.82, which is lower than the CAAAX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of CSIFX and CAAAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CSIFX vs. CAAAX - Drawdown Comparison

The maximum CSIFX drawdown since its inception was -38.68%, smaller than the maximum CAAAX drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for CSIFX and CAAAX.

Drawdown Indicators

	CSIFX	CAAAX	Difference
Max Drawdown Largest peak-to-trough decline	-38.68%	-53.45%	+14.77%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-9.39%	+1.41%
Max Drawdown (3Y) Largest decline over 3 years	-11.86%	-15.37%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-19.95%	-25.90%	+5.95%
Max Drawdown (10Y) Largest decline over 10 years	-23.77%	-32.59%	+8.82%
Current Drawdown Current decline from peak	-1.40%	-1.73%	+0.33%
Average Drawdown Average peak-to-trough decline	-5.29%	-8.20%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.20%	-0.27%

Volatility

CSIFX vs. CAAAX - Volatility Comparison

The current volatility for Calvert Balanced Fund (CSIFX) is 2.87%, while Calvert Growth Allocation Fund (CAAAX) has a volatility of 3.53%. This indicates that CSIFX 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.

Volatility by Period

	CSIFX	CAAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	3.53%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	10.63%	-3.05%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	12.66%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.00%	14.30%	-3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.10%	15.48%	-4.38%

CSIFX vs. CAAAX - Expense Ratio Comparison

CSIFX has a 0.91% expense ratio, which is higher than CAAAX's 0.43% expense ratio.

Dividends

CSIFX vs. CAAAX - Dividend Comparison

CSIFX's dividend yield for the trailing twelve months is around 4.37%, 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%
CSIFX Calvert Balanced Fund	4.37%	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 CSIFX and CAAAX in my portfolio?

With a correlation of 0.93, CSIFX 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.

Which is riskier, CSIFX or CAAAX?

CAAAX has higher volatility (3.53%) compared to CSIFX (2.87%). In terms of maximum drawdown, CSIFX dropped -38.68% vs CAAAX's -53.45%.

Which has better risk-adjusted returns?

CAAAX currently has the higher Sharpe Ratio (1.38 vs 0.82), 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.