CVLC vs. AVIE

Last updated Jul 14, 2026

CVLC (Calvert US Large-Cap Core Responsible Index ETF) and AVIE (Avantis Inflation Focused Equity ETF) are both Large Cap Blend Equities funds. CVLC is passively managed, while AVIE is actively managed. Over the past 3 years, CVLC returned 19.90%/yr vs 13.54%/yr for AVIE. At a 0.46 correlation, their price movements are largely independent. CVLC charges 0.15%/yr vs 0.25%/yr for AVIE.

Performance

CVLC vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Large-Cap Core Responsible Index ETF (CVLC) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVLC achieves a 11.97% return, which is significantly lower than AVIE's 16.94% return.

CVLC

• 1D: -0.78%
• 1M: 0.91%
• 6M: 9.50%
• YTD: 11.97%
• 1Y: 22.82%
• 3Y*: 19.90%
• 5Y*: —
• 10Y*: —

AVIE

• 1D: 1.05%
• 1M: 1.67%
• 6M: 14.10%
• YTD: 16.94%
• 1Y: 25.91%
• 3Y*: 13.54%
• 5Y*: —
• 10Y*: —

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

CVLC vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVLC Calvert US Large-Cap Core Responsible Index ETF	11.97%	16.13%	24.20%	19.04%
AVIE Avantis Inflation Focused Equity ETF	16.94%	11.37%	6.17%	2.77%

Correlation

The correlation between CVLC and AVIE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.46

Over the past year, the correlation between CVLC and AVIE has dropped to 0.20 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

CVLC vs. AVIE - Sectors Allocation Comparison

Sectors	CVLC	AVIE
Technology	39.8%	0.1%
Financial Services	12.0%	15.0%
Industrials	10.2%	1.3%
Healthcare	9.2%	26.3%
Consumer Cyclical	8.8%	0.0%
Communication Services	8.7%	-
Consumer Defensive	4.6%	17.1%
Real Estate	2.7%	0.1%
Basic Materials	2.0%	9.8%
Utilities	1.7%	0.0%
Energy	0.4%	30.0%

Return for Risk

CVLC vs. AVIE — Risk / Return Rank

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

CVLC

CVLC Risk / Return Rank: 67
CVLC Sharpe Ratio Rank: 68
CVLC Sortino Ratio Rank: 67
CVLC Omega Ratio Rank: 65
CVLC Calmar Ratio Rank: 60
CVLC Martin Ratio Rank: 72

AVIE

AVIE Risk / Return Rank: 92
AVIE Sharpe Ratio Rank: 92
AVIE Sortino Ratio Rank: 93
AVIE Omega Ratio Rank: 90
AVIE Calmar Ratio Rank: 93
AVIE Martin Ratio Rank: 90

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.

CVLC vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Large-Cap Core Responsible Index ETF (CVLC) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	CVLC	AVIE	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.55	-0.81
Sortino ratio: Return per unit of downside risk	2.46	3.70	-1.24
Omega ratio: Gain probability vs. loss probability	1.31	1.45	-0.14
Calmar ratio: Return relative to maximum drawdown	2.39	5.24	-2.85
Martin ratio: Return relative to average drawdown	10.60	16.43	-5.84

CVLC vs. AVIE - Sharpe Ratio Comparison

The current CVLC Sharpe Ratio is 1.75, which is lower than the AVIE Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of CVLC and AVIE, 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

CVLC vs. AVIE - Drawdown Comparison

The maximum CVLC drawdown since its inception was -19.92%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for CVLC and AVIE.

Drawdown Indicators

	CVLC	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-12.39%	-7.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-4.97%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-12.39%	-7.53%
Current Drawdown Current decline from peak	-1.07%	-0.07%	-1.00%
Average Drawdown Average peak-to-trough decline	-2.38%	-2.97%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	1.60%	+0.56%

Volatility

CVLC vs. AVIE - Volatility Comparison

Calvert US Large-Cap Core Responsible Index ETF (CVLC) has a higher volatility of 4.17% compared to Avantis Inflation Focused Equity ETF (AVIE) at 3.66%. This indicates that CVLC's price experiences larger fluctuations and is considered to be riskier than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLC	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.66%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	7.47%	+3.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	10.21%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	12.90%	+2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.57%	12.90%	+2.67%

CVLC vs. AVIE - Expense Ratio Comparison

CVLC has a 0.15% expense ratio, which is lower than AVIE's 0.25% 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

CVLC vs. AVIE - Dividend Comparison

CVLC's dividend yield for the trailing twelve months is around 0.92%, less than AVIE's 1.42% yield.

Position	TTM	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	1.42%	1.75%	1.89%	3.72%	0.39%
CVLC Calvert US Large-Cap Core Responsible Index ETF	0.92%	1.02%	1.03%	0.91%	0.00%

Frequently Asked Questions

Can I hold both CVLC and AVIE in my portfolio?

CVLC and AVIE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVLC or AVIE?

CVLC has higher volatility (4.17%) compared to AVIE (3.66%). In terms of maximum drawdown, CVLC dropped -19.92% vs AVIE's -12.39%.

Which ETF is better, CVLC or AVIE?

On 3-year performance, CVLC leads with 19.90% vs 13.54% for AVIE. On fees, CVLC is cheaper at 0.15% per year. On volatility, AVIE has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVLC or AVIE?

Over the 3-year period, CVLC has performed better with a 19.90% return vs 13.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVLC or AVIE?

CVLC is cheaper with a 0.15% expense ratio, compared with 0.25% for AVIE.

Which ETF pays a higher dividend yield, CVLC or AVIE?

AVIE has the higher dividend yield at 1.42%, compared with 0.92% for CVLC.

What is the main difference between CVLC and AVIE?

They also come from different issuers: Calvert and Avantis. Their fees differ too: 0.15% for CVLC and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.55 vs 1.75), 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.