CVLC vs. ESGV

Last updated Jun 23, 2026

CVLC (Calvert US Large-Cap Core Responsible Index ETF) and ESGV (Vanguard ESG U.S. Stock ETF) are both Large Cap Blend Equities funds - CVLC tracks the Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross while ESGV tracks the FTSE US All Cap Choice Index. Both are passively managed. Over the past 3 years, CVLC returned 21.49%/yr vs 21.19%/yr for ESGV. With a 0.98 correlation, they move nearly in lockstep. CVLC charges 0.15%/yr vs 0.09%/yr for ESGV.

Performance

CVLC vs. ESGV - 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 Vanguard ESG U.S. Stock ETF (ESGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVLC achieves a 12.05% return, which is significantly higher than ESGV's 9.39% return.

CVLC

• 1D: -0.31%
• 1M: 1.64%
• YTD: 12.05%
• 6M: 11.50%
• 1Y: 29.30%
• 3Y*: 21.49%
• 5Y*: —
• 10Y*: —

ESGV

• 1D: -0.51%
• 1M: 0.39%
• YTD: 9.39%
• 6M: 8.78%
• 1Y: 26.60%
• 3Y*: 21.19%
• 5Y*: 12.10%
• 10Y*: —

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

CVLC vs. ESGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVLC Calvert US Large-Cap Core Responsible Index ETF	12.05%	16.13%	24.20%	19.04%
ESGV Vanguard ESG U.S. Stock ETF	9.39%	16.48%	24.69%	21.21%

Correlation

The correlation between CVLC and ESGV is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.98

The correlation between CVLC and ESGV has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

CVLC vs. ESGV - Sectors Allocation Comparison

Sectors	CVLC	ESGV
Technology	39.8%	43.0%
Financial Services	12.0%	11.4%
Industrials	10.2%	4.2%
Healthcare	9.2%	9.5%
Consumer Cyclical	8.8%	11.7%
Communication Services	8.7%	12.2%
Consumer Defensive	4.6%	3.6%
Real Estate	2.7%	2.6%
Basic Materials	2.0%	1.8%
Utilities	1.7%	0.2%
Energy	0.4%	0.1%

Return for Risk

CVLC vs. ESGV — Risk / Return Rank

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

CVLC

CVLC Risk / Return Rank: 71
CVLC Sharpe Ratio Rank: 73
CVLC Sortino Ratio Rank: 72
CVLC Omega Ratio Rank: 71
CVLC Calmar Ratio Rank: 64
CVLC Martin Ratio Rank: 75

ESGV

ESGV Risk / Return Rank: 55
ESGV Sharpe Ratio Rank: 59
ESGV Sortino Ratio Rank: 56
ESGV Omega Ratio Rank: 57
ESGV Calmar Ratio Rank: 48
ESGV Martin Ratio Rank: 57

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. ESGV - 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 Vanguard ESG U.S. Stock ETF (ESGV). 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	ESGV	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.90	+0.36
Sortino ratio: Return per unit of downside risk	3.10	2.58	+0.52
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	3.06	2.30	+0.76
Martin ratio: Return relative to average drawdown	13.77	9.65	+4.13

CVLC vs. ESGV - Sharpe Ratio Comparison

The current CVLC Sharpe Ratio is 2.26, which is comparable to the ESGV Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of CVLC and ESGV, 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. ESGV - Drawdown Comparison

The maximum CVLC drawdown since its inception was -19.92%, smaller than the maximum ESGV drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for CVLC and ESGV.

Drawdown Indicators

	CVLC	ESGV	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-33.66%	+13.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-11.60%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-20.41%	+0.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.81%	—
Current Drawdown Current decline from peak	-0.99%	-2.09%	+1.10%
Average Drawdown Average peak-to-trough decline	-2.40%	-6.40%	+4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.76%	-0.63%

Volatility

CVLC vs. ESGV - Volatility Comparison

The current volatility for Calvert US Large-Cap Core Responsible Index ETF (CVLC) is 4.74%, while Vanguard ESG U.S. Stock ETF (ESGV) has a volatility of 5.40%. This indicates that CVLC experiences smaller price fluctuations and is considered to be less risky than ESGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLC	ESGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	5.40%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	10.42%	11.18%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	14.08%	-1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.64%	18.47%	-2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	20.60%	-4.96%

CVLC vs. ESGV - Expense Ratio Comparison

CVLC has a 0.15% expense ratio, which is higher than ESGV's 0.09% expense ratio. However, 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. ESGV - Dividend Comparison

CVLC's dividend yield for the trailing twelve months is around 1.12%, more than ESGV's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CVLC Calvert US Large-Cap Core Responsible Index ETF	1.12%	1.02%	1.03%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%
ESGV Vanguard ESG U.S. Stock ETF	0.87%	0.91%	1.04%	1.16%	1.42%	0.95%	1.11%	1.27%	0.28%

Frequently Asked Questions

Can I hold both CVLC and ESGV in my portfolio?

With a correlation of 0.97, CVLC and ESGV 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 ESGV?

ESGV has higher volatility (5.40%) compared to CVLC (4.74%). In terms of maximum drawdown, CVLC dropped -19.92% vs ESGV's -33.66%.

Which ETF is better, CVLC or ESGV?

On 3-year performance, CVLC leads with 21.49% vs 21.19% for ESGV. On fees, ESGV is cheaper at 0.09% per year. On volatility, CVLC has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVLC or ESGV?

Over the 3-year period, CVLC has performed better with a 21.49% return vs 21.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVLC or ESGV?

ESGV is cheaper with a 0.09% expense ratio, compared with 0.15% for CVLC.

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

CVLC has the higher dividend yield at 1.12%, compared with 0.87% for ESGV.

What is the main difference between CVLC and ESGV?

CVLC tracks Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross, while ESGV tracks FTSE US All Cap Choice Index. They also come from different issuers: Calvert and Vanguard. Their fees differ too: 0.15% for CVLC and 0.09% for ESGV.

Which has better risk-adjusted returns?

CVLC currently has the higher Sharpe Ratio (2.26 vs 1.90), 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.