CSXRX vs. CBAIX

Last updated Jun 23, 2026

CSXRX (Calvert US Large Cap Core Responsible Index Fund Class R6) and CBAIX (Calvert Balanced Fund Class I) are both mutual funds - CSXRX is a Large Cap Blend Equities fund tracking the Calvert US Large-Cap Core Responsible Index, while CBAIX is a Diversified Portfolio fund actively managed by Calvert. CSXRX is passively managed, while CBAIX is actively managed. Over the past 5 years, CSXRX returned 13.01%/yr vs 8.09%/yr for CBAIX. With a 0.95 correlation, they move nearly in lockstep. CSXRX charges 0.19%/yr vs 0.65%/yr for CBAIX.

Performance

CSXRX vs. CBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Large Cap Core Responsible Index Fund Class R6 (CSXRX) and Calvert Balanced Fund Class I (CBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSXRX achieves a 12.32% return, which is significantly higher than CBAIX's 4.04% return.

CSXRX

• 1D: 1.26%
• 1M: 1.87%
• YTD: 12.32%
• 6M: 11.78%
• 1Y: 29.58%
• 3Y*: 20.93%
• 5Y*: 13.01%
• 10Y*: —

CBAIX

• 1D: 0.90%
• 1M: 0.56%
• YTD: 4.04%
• 6M: 4.05%
• 1Y: 14.42%
• 3Y*: 14.22%
• 5Y*: 8.09%
• 10Y*: 9.89%

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

CSXRX vs. CBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSXRX Calvert US Large Cap Core Responsible Index Fund Class R6	12.32%	15.96%	24.19%	27.32%	-21.64%	25.71%	26.19%	32.83%	-4.07%	4.39%
CBAIX Calvert Balanced Fund Class I	4.04%	11.60%	19.24%	16.66%	-15.13%	14.56%	15.74%	24.03%	-2.47%	2.85%

Correlation

The correlation between CSXRX and CBAIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017	0.95

The correlation between CSXRX and CBAIX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

CSXRX vs. CBAIX — Risk / Return Rank

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

CSXRX

CSXRX Risk / Return Rank: 69
CSXRX Sharpe Ratio Rank: 70
CSXRX Sortino Ratio Rank: 65
CSXRX Omega Ratio Rank: 62
CSXRX Calmar Ratio Rank: 68
CSXRX Martin Ratio Rank: 79

CBAIX

CBAIX Risk / Return Rank: 34
CBAIX Sharpe Ratio Rank: 36
CBAIX Sortino Ratio Rank: 35
CBAIX Omega Ratio Rank: 35
CBAIX Calmar Ratio Rank: 28
CBAIX Martin Ratio Rank: 38

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.

CSXRX vs. CBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Large Cap Core Responsible Index Fund Class R6 (CSXRX) and Calvert Balanced Fund Class I (CBAIX). 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.

	CSXRX	CBAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.60	+0.64
Sortino ratio: Return per unit of downside risk	3.07	2.30	+0.77
Omega ratio: Gain probability vs. loss probability	1.40	1.29	+0.11
Calmar ratio: Return relative to maximum drawdown	3.03	1.87	+1.16
Martin ratio: Return relative to average drawdown	13.67	7.90	+5.78

CSXRX vs. CBAIX - Sharpe Ratio Comparison

The current CSXRX Sharpe Ratio is 2.25, which is higher than the CBAIX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of CSXRX and CBAIX, 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

CSXRX vs. CBAIX - Drawdown Comparison

The maximum CSXRX drawdown since its inception was -32.82%, smaller than the maximum CBAIX drawdown of -38.21%. Use the drawdown chart below to compare losses from any high point for CSXRX and CBAIX.

Drawdown Indicators

	CSXRX	CBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.82%	-38.21%	+5.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.72%	-7.65%	-2.07%
Max Drawdown (3Y) Largest decline over 3 years	-19.93%	-11.80%	-8.13%
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	-19.79%	-7.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.76%	—
Current Drawdown Current decline from peak	-0.71%	-0.46%	-0.25%
Average Drawdown Average peak-to-trough decline	-5.60%	-4.45%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.81%	+0.34%

Volatility

CSXRX vs. CBAIX - Volatility Comparison

Calvert US Large Cap Core Responsible Index Fund Class R6 (CSXRX) has a higher volatility of 5.05% compared to Calvert Balanced Fund Class I (CBAIX) at 3.50%. This indicates that CSXRX's price experiences larger fluctuations and is considered to be riskier than CBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSXRX	CBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	3.50%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	7.28%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	8.90%	+4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	10.95%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	11.10%	+8.54%

CSXRX vs. CBAIX - Expense Ratio Comparison

CSXRX has a 0.19% expense ratio, which is lower than CBAIX's 0.65% expense ratio.

Dividends

CSXRX vs. CBAIX - Dividend Comparison

CSXRX's dividend yield for the trailing twelve months is around 4.87%, more than CBAIX's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBAIX Calvert Balanced Fund Class I	4.68%	4.86%	5.32%	2.53%	2.50%	7.68%	2.59%	3.60%	5.40%	7.91%	3.01%	12.83%
CSXRX Calvert US Large Cap Core Responsible Index Fund Class R6	4.87%	5.47%	1.83%	1.08%	1.28%	1.07%	0.97%	1.17%	4.40%	2.41%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSXRX and CBAIX in my portfolio?

With a correlation of 0.96, CSXRX and CBAIX 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, CSXRX or CBAIX?

CSXRX has higher volatility (5.05%) compared to CBAIX (3.50%). In terms of maximum drawdown, CSXRX dropped -32.82% vs CBAIX's -38.21%.

Which has better risk-adjusted returns?

CSXRX currently has the higher Sharpe Ratio (2.25 vs 1.60), 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.