CVLC vs. ESGU

Last updated Aug 2, 2026

CVLC (Calvert US Large-Cap Core Responsible Index ETF) and ESGU (iShares ESG Aware MSCI USA ETF) are both Large Cap Blend Equities funds - CVLC tracks the Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross while ESGU tracks the MSCI USA Extended ESG Focus Index. Both are passively managed. Over the past 3 years, CVLC returned 19.34%/yr vs 19.00%/yr for ESGU. Their 0.98 correlation means they have historically moved very closely together. Both charge a 0.15% expense ratio.

Performance

CVLC vs. ESGU - 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 iShares ESG Aware MSCI USA ETF (ESGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVLC achieves a 11.99% return, which is significantly higher than ESGU's 10.36% return.

CVLC

• 1D: 0.62%
• 1M: 0.02%
• 6M: 10.73%
• YTD: 11.99%
• 1Y: 23.51%
• 3Y*: 19.34%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.58%

ESGU

• 1D: 0.71%
• 1M: 0.15%
• 6M: 9.05%
• YTD: 10.36%
• 1Y: 21.68%
• 3Y*: 19.00%
• 5Y*: 11.65%
• 10Y*: —
• ALL TIME*: 15.10%

*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)
CVLC Calvert US Large-Cap Core Responsible Index ETF	$2.45M	$3.31M	$2.99M
ESGU iShares ESG Aware MSCI USA ETF	$80.49M	$59.39M	$71.31M

CVLC vs. ESGU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVLC Calvert US Large-Cap Core Responsible Index ETF	11.99%	16.13%	24.20%	19.04%
ESGU iShares ESG Aware MSCI USA ETF	10.36%	16.90%	24.31%	18.14%

Correlation

The correlation between CVLC and ESGU is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.98

The correlation between CVLC and ESGU has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

CVLC vs. ESGU - Sectors Allocation Comparison

Sectors	CVLC	ESGU
Technology	38.1%	38.6%
Financial Services	13.2%	11.6%
Industrials	10.2%	8.7%
Healthcare	10.0%	9.5%
Consumer Cyclical	8.0%	9.0%
Communication Services	7.4%	9.2%
Consumer Defensive	4.7%	4.3%
Real Estate	2.8%	2.0%
Basic Materials	2.6%	1.9%
Utilities	2.3%	1.9%
Energy	0.4%	3.3%

Return for Risk

CVLC vs. ESGU — Risk / Return Rank

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

CVLC

CVLC Risk / Return Rank: 70
CVLC Sharpe Ratio Rank: 71
CVLC Sortino Ratio Rank: 70
CVLC Omega Ratio Rank: 68
CVLC Calmar Ratio Rank: 64
CVLC Martin Ratio Rank: 78

ESGU

ESGU Risk / Return Rank: 65
ESGU Sharpe Ratio Rank: 65
ESGU Sortino Ratio Rank: 62
ESGU Omega Ratio Rank: 63
ESGU Calmar Ratio Rank: 61
ESGU Martin Ratio Rank: 73

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.

CVLC vs. ESGU - 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 iShares ESG Aware MSCI USA ETF (ESGU). 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	ESGU	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.50	+0.11
Sortino ratio: Return per unit of downside risk	2.28	2.07	+0.21
Omega ratio: Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.26	2.13	+0.13
Martin ratio: Return relative to average drawdown	9.92	8.95	+0.97

CVLC vs. ESGU - Sharpe Ratio Comparison

The current CVLC Sharpe Ratio is 1.61, which is comparable to the ESGU Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of CVLC and ESGU, 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. ESGU - Drawdown Comparison

The maximum CVLC drawdown since its inception was -19.92%, smaller than the maximum ESGU drawdown of -33.87%. Use the drawdown chart below to compare losses from any high point for CVLC and ESGU.

Drawdown Indicators

	CVLC	ESGU	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-33.87%	+13.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-9.26%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-19.32%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.15%	—
Current Drawdown Current decline from peak	-1.05%	-1.42%	+0.37%
Average Drawdown Average peak-to-trough decline	-2.37%	-4.84%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.20%	-0.02%

Volatility

CVLC vs. ESGU - Volatility Comparison

Calvert US Large-Cap Core Responsible Index ETF (CVLC) and iShares ESG Aware MSCI USA ETF (ESGU) have volatilities of 3.68% and 3.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLC	ESGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.62%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.72%	10.31%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	13.48%	13.15%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	17.44%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	18.54%	-2.99%

CVLC vs. ESGU - Expense Ratio Comparison

Both CVLC and ESGU have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CVLC vs. ESGU - Dividend Comparison

CVLC's dividend yield for the trailing twelve months is around 0.92%, less than ESGU's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVLC Calvert US Large-Cap Core Responsible Index ETF	0.92%	1.02%	1.03%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ESGU iShares ESG Aware MSCI USA ETF	0.94%	0.99%	1.18%	1.43%	1.58%	1.06%	1.27%	1.32%	1.73%	1.82%

Frequently Asked Questions

Can I hold both CVLC and ESGU in my portfolio?

With a correlation of 0.98, CVLC and ESGU 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, CVLC or ESGU?

CVLC has higher volatility (3.68%) compared to ESGU (3.62%). In terms of maximum drawdown, CVLC dropped -19.92% vs ESGU's -33.87%.

Which ETF is better, CVLC or ESGU?

On 3-year performance, CVLC leads with 19.34% vs 19.00% for ESGU. Both ETFs have the same 0.15% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVLC or ESGU?

Over the 3-year period, CVLC has performed better with a 19.34% return vs 19.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVLC or ESGU?

CVLC and ESGU have the same expense ratio: 0.15% per year.

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

ESGU has the higher dividend yield at 0.94%, compared with 0.92% for CVLC.

What is the main difference between CVLC and ESGU?

CVLC tracks Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross, while ESGU tracks MSCI USA Extended ESG Focus Index. They also come from different issuers: Calvert and iShares.

Which has better risk-adjusted returns?

CVLC currently has the higher Sharpe Ratio (1.61 vs 1.50), 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.