CUBIX vs. CDHIX

Last updated Aug 1, 2026

CUBIX (Calvert Flexible Bond Fund) and CDHIX (Calvert International Responsible Index Fund) are both mutual funds - CUBIX is a Nontraditional Bonds fund managed by Calvert, while CDHIX is a Foreign Large Cap Equities fund managed by Calvert. Over the past 10 years, CUBIX returned 3.83%/yr vs 10.71%/yr for CDHIX. Their 0.34 correlation means their historical movements had little consistent relationship. CUBIX charges 0.66%/yr vs 0.29%/yr for CDHIX.

Performance

CUBIX vs. CDHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Flexible Bond Fund (CUBIX) and Calvert International Responsible Index Fund (CDHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CUBIX achieves a 0.13% return, which is significantly lower than CDHIX's 16.93% return. Over the past 10 years, CUBIX has underperformed CDHIX with an annualized return of 3.83%, while CDHIX has yielded a comparatively higher 10.71% annualized return.

CUBIX

• 1D: 0.07%
• 1M: -0.81%
• 6M: -0.52%
• YTD: 0.13%
• 1Y: 3.06%
• 3Y*: 6.10%
• 5Y*: 3.52%
• 10Y*: 3.83%
• ALL TIME*: 3.79%

CDHIX

• 1D: 3.24%
• 1M: -1.23%
• 6M: 10.87%
• YTD: 16.93%
• 1Y: 33.40%
• 3Y*: 19.02%
• 5Y*: 10.15%
• 10Y*: 10.71%
• ALL TIME*: 10.38%

*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)
CDHIX Calvert International Responsible Index Fund	$0.00	$0.00	$0.00
CUBIX Calvert Flexible Bond Fund	$0.00	$0.00	$0.00

CUBIX vs. CDHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CUBIX Calvert Flexible Bond Fund	0.13%	8.23%	6.56%	7.24%	-4.15%	3.82%	4.12%	7.06%	0.43%	3.30%
CDHIX Calvert International Responsible Index Fund	16.93%	33.29%	5.04%	20.03%	-19.22%	12.57%	15.33%	24.38%	-13.67%	25.31%

Correlation

The correlation between CUBIX and CDHIX is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.43
Correlation (10Y) Provides a long-term view across more market conditions.	0.34
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.34

The correlation between CUBIX and CDHIX shifts across timeframes, from 0.34 (10 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CUBIX vs. CDHIX — Risk / Return Rank

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

CUBIX

CUBIX Risk / Return Rank: 51
CUBIX Sharpe Ratio Rank: 51
CUBIX Sortino Ratio Rank: 59
CUBIX Omega Ratio Rank: 58
CUBIX Calmar Ratio Rank: 41
CUBIX Martin Ratio Rank: 44

CDHIX

CDHIX Risk / Return Rank: 74
CDHIX Sharpe Ratio Rank: 73
CDHIX Sortino Ratio Rank: 70
CDHIX Omega Ratio Rank: 71
CDHIX Calmar Ratio Rank: 77
CDHIX Martin Ratio Rank: 77

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.

CUBIX vs. CDHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Flexible Bond Fund (CUBIX) and Calvert International Responsible Index Fund (CDHIX). 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.

	CUBIX	CDHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.71	-0.29
Sortino ratio: Return per unit of downside risk	2.18	2.35	-0.16
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	1.74	2.50	-0.75
Martin ratio: Return relative to average drawdown	6.47	9.25	-2.78

CUBIX vs. CDHIX - Sharpe Ratio Comparison

The current CUBIX Sharpe Ratio is 1.42, which is comparable to the CDHIX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of CUBIX and CDHIX, 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

CUBIX vs. CDHIX - Drawdown Comparison

The maximum CUBIX drawdown since its inception was -14.12%, smaller than the maximum CDHIX drawdown of -32.32%. Use the drawdown chart below to compare losses from any high point for CUBIX and CDHIX.

Drawdown Indicators

	CUBIX	CDHIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.12%	-32.32%	+18.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.26%	-12.61%	+10.35%
Max Drawdown (3Y) Largest decline over 3 years	-2.26%	-13.41%	+11.15%
Max Drawdown (5Y) Largest decline over 5 years	-7.48%	-32.01%	+24.53%
Max Drawdown (10Y) Largest decline over 10 years	-14.12%	-32.32%	+18.20%
Current Drawdown Current decline from peak	-1.04%	-4.07%	+3.03%
Average Drawdown Average peak-to-trough decline	-0.95%	-6.27%	+5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	3.40%	-2.79%

Volatility

CUBIX vs. CDHIX - Volatility Comparison

The current volatility for Calvert Flexible Bond Fund (CUBIX) is 0.77%, while Calvert International Responsible Index Fund (CDHIX) has a volatility of 6.33%. This indicates that CUBIX experiences smaller price fluctuations and is considered to be less risky than CDHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CUBIX	CDHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	6.33%	-5.56%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	16.34%	-13.94%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	18.42%	-15.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.95%	16.76%	-13.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.84%	16.46%	-13.62%

CUBIX vs. CDHIX - Expense Ratio Comparison

CUBIX has a 0.66% expense ratio, which is higher than CDHIX's 0.29% expense ratio.

Dividends

CUBIX vs. CDHIX - Dividend Comparison

CUBIX's dividend yield for the trailing twelve months is around 4.51%, more than CDHIX's 2.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDHIX Calvert International Responsible Index Fund	2.90%	3.39%	2.87%	2.00%	1.92%	2.00%	1.25%	1.72%	2.25%	1.35%	2.01%	0.00%
CUBIX Calvert Flexible Bond Fund	4.51%	4.93%	5.50%	3.95%	4.75%	3.58%	2.85%	3.35%	3.33%	3.41%	4.48%	3.25%

Frequently Asked Questions

Can I hold both CUBIX and CDHIX in my portfolio?

CUBIX and CDHIX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CUBIX or CDHIX?

CDHIX has higher volatility (6.33%) compared to CUBIX (0.77%). In terms of maximum drawdown, CUBIX dropped -14.12% vs CDHIX's -32.32%.

Which has better risk-adjusted returns?

CDHIX currently has the higher Sharpe Ratio (1.71 vs 1.42), 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.