CULAX vs. SPY
Compare and contrast key facts about Calvert Ultra-Short Duration Income Fund (CULAX) and SPDR S&P 500 ETF (SPY).
CULAX is managed by Calvert Research and Management. It was launched on Oct 31, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CULAX or SPY.
Key characteristics
| CULAX | SPY | |
|---|---|---|
| YTD Return | 1.88% | 9.15% |
| 1Y Return | 6.14% | 27.68% |
| 3Y Return (Ann) | 2.55% | 8.61% |
| 5Y Return (Ann) | 2.06% | 14.27% |
| 10Y Return (Ann) | 1.67% | 12.68% |
| Sharpe Ratio | 3.68 | 2.36 |
| Daily Std Dev | 1.64% | 11.51% |
| Max Drawdown | -7.40% | -55.19% |
| Current Drawdown | 0.00% | -1.14% |
Correlation
The correlation between CULAX and SPY is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CULAX vs. SPY - Performance Comparison
In the year-to-date period, CULAX achieves a 1.88% return, which is significantly lower than SPY's 9.15% return. Over the past 10 years, CULAX has underperformed SPY with an annualized return of 1.67%, while SPY has yielded a comparatively higher 12.68% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CULAX vs. SPY - Expense Ratio Comparison
CULAX has a 0.72% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
CULAX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Ultra-Short Duration Income Fund (CULAX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
CULAX vs. SPY - Dividend Comparison
CULAX's dividend yield for the trailing twelve months is around 4.81%, more than SPY's 1.30% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CULAX Calvert Ultra-Short Duration Income Fund | 4.81% | 4.52% | 1.77% | 0.64% | 1.24% | 2.45% | 2.10% | 1.25% | 1.10% | 0.72% | 0.68% | 0.71% |
SPY SPDR S&P 500 ETF | 1.30% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
CULAX vs. SPY - Drawdown Comparison
The maximum CULAX drawdown since its inception was -7.40%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CULAX and SPY. For additional features, visit the drawdowns tool.
Volatility
CULAX vs. SPY - Volatility Comparison
The current volatility for Calvert Ultra-Short Duration Income Fund (CULAX) is 0.75%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.07%. This indicates that CULAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.