CVIE vs. DFSB
CVIE (Calvert International Responsible Index ETF) and DFSB (Dimensional Global Sustainability Fixed Income ETF) are both exchange-traded funds - CVIE is a Foreign Large Cap Equities fund tracking the Calvert International Responsible Index, while DFSB is a Global Bonds fund actively managed by Dimensional. CVIE is passively managed, while DFSB is actively managed. Over the past 3 years, CVIE returned 20.58%/yr vs 4.65%/yr for DFSB. Their 0.33 correlation means their historical movements had little consistent relationship. CVIE charges 0.18%/yr vs 0.24%/yr for DFSB.
Performance
CVIE vs. DFSB - Performance Comparison
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Returns By Period
In the year-to-date period, CVIE achieves a 17.45% return, which is significantly higher than DFSB's 0.59% return.
CVIE
- 1D
- 0.42%
- 1M
- -1.09%
- 6M
- 10.53%
- YTD
- 17.45%
- 1Y
- 34.04%
- 3Y*
- 20.58%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.42%
DFSB
- 1D
- 0.36%
- 1M
- -0.99%
- 6M
- 0.14%
- YTD
- 0.59%
- 1Y
- 2.12%
- 3Y*
- 4.65%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.74M | $2.27M | $1.96M | |
| $2.42M | $2.31M | $2.29M |
CVIE vs. DFSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CVIE Calvert International Responsible Index ETF | 17.45% | 33.23% | 5.37% | 9.62% |
DFSB Dimensional Global Sustainability Fixed Income ETF | 0.59% | 5.22% | 2.45% | 5.60% |
Correlation
The correlation between CVIE and DFSB is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | 0.33 |
The correlation between CVIE and DFSB shifts across timeframes, from 0.33 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CVIE vs. DFSB — Risk / Return Rank
CVIE
DFSB
CVIE vs. DFSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert International Responsible Index ETF (CVIE) and Dimensional Global Sustainability Fixed Income ETF (DFSB). 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.
| CVIE | DFSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.09 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 0.70 | +1.99 |
| Martin ratioReturn relative to average drawdown | 9.94 | 2.02 | +7.91 |
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Drawdowns
CVIE vs. DFSB - Drawdown Comparison
The maximum CVIE drawdown since its inception was -13.52%, which is greater than DFSB's maximum drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for CVIE and DFSB.
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Drawdown Indicators
| CVIE | DFSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.52% | -5.16% | -8.36% |
Max Drawdown (1Y)Largest decline over 1 year | -12.71% | -3.04% | -9.67% |
Max Drawdown (3Y)Largest decline over 3 years | -13.52% | -3.88% | -9.64% |
Current DrawdownCurrent decline from peak | -3.79% | -1.37% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -1.24% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 1.05% | +2.39% |
Volatility
CVIE vs. DFSB - Volatility Comparison
Calvert International Responsible Index ETF (CVIE) has a higher volatility of 6.15% compared to Dimensional Global Sustainability Fixed Income ETF (DFSB) at 1.15%. This indicates that CVIE's price experiences larger fluctuations and is considered to be riskier than DFSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVIE | DFSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 1.15% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 16.63% | 3.34% | +13.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.63% | 3.91% | +14.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.90% | 5.41% | +10.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 5.41% | +10.49% |
CVIE vs. DFSB - Expense Ratio Comparison
CVIE has a 0.18% expense ratio, which is lower than DFSB's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CVIE vs. DFSB - Dividend Comparison
CVIE's dividend yield for the trailing twelve months is around 2.37%, less than DFSB's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CVIE Calvert International Responsible Index ETF | 2.37% | 2.85% | 2.78% | 1.96% | 0.00% |
DFSB Dimensional Global Sustainability Fixed Income ETF | 5.63% | 3.46% | 4.35% | 5.27% | 0.41% |
Frequently Asked Questions
CVIE and DFSB have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVIE has higher volatility (6.15%) compared to DFSB (1.15%). In terms of maximum drawdown, CVIE dropped -13.52% vs DFSB's -5.16%.
On 3-year performance, CVIE leads with 20.58% vs 4.65% for DFSB. On fees, CVIE is cheaper at 0.18% per year. On volatility, DFSB has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CVIE has performed better with a 20.58% return vs 4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CVIE is cheaper with a 0.18% expense ratio, compared with 0.24% for DFSB.
DFSB has the higher dividend yield at 5.63%, compared with 2.37% for CVIE.
CVIE is categorized as Foreign Large Cap Equities, while DFSB is Global Bonds. They also come from different issuers: Calvert and Dimensional. Their fees differ too: 0.18% for CVIE and 0.24% for DFSB.
CVIE currently has the higher Sharpe Ratio (1.84 vs 0.55), 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.
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