CVLC vs. ITOT

Last updated Jun 4, 2026

CVLC (Calvert US Large-Cap Core Responsible Index ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - CVLC is a Large Cap Blend Equities fund tracking the Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross, while ITOT is a Large Cap Growth Equities fund tracking the S&P Composite 1500 Index. Both are passively managed. Over the past 3 years, CVLC returned 22.30%/yr vs 22.09%/yr for ITOT. With a 0.98 correlation, they move nearly in lockstep. CVLC charges 0.15%/yr vs 0.03%/yr for ITOT.

Performance

CVLC vs. ITOT - 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 Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVLC achieves a 12.35% return, which is significantly higher than ITOT's 11.25% return.

CVLC

• 1D: -0.73%
• 1M: 5.88%
• YTD: 12.35%
• 6M: 12.15%
• 1Y: 29.31%
• 3Y*: 22.30%
• 5Y*: —
• 10Y*: —

ITOT

• 1D: -0.73%
• 1M: 5.01%
• YTD: 11.25%
• 6M: 11.12%
• 1Y: 28.12%
• 3Y*: 22.09%
• 5Y*: 12.69%
• 10Y*: 15.01%

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

CVLC vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVLC Calvert US Large-Cap Core Responsible Index ETF	12.35%	16.13%	24.20%	17.14%
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.25%	17.00%	23.80%	16.59%

Correlation

The correlation between CVLC and ITOT is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.98

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

CVLC vs. ITOT - Sectors Allocation Comparison

Sectors	CVLC	ITOT
Technology	39.5%	33.8%
Financial Services	11.8%	12.1%
Industrials	9.9%	9.5%
Healthcare	9.1%	9.0%
Consumer Cyclical	8.7%	10.1%
Communication Services	8.5%	10.3%
Consumer Defensive	4.6%	4.7%
Real Estate	2.7%	2.4%
Utilities	2.2%	2.3%
Basic Materials	2.1%	2.1%
Energy	0.5%	3.7%

Return for Risk

CVLC vs. ITOT — Risk / Return Rank

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

CVLC

CVLC Risk / Return Rank: 70
CVLC Sharpe Ratio Rank: 72
CVLC Sortino Ratio Rank: 71
CVLC Omega Ratio Rank: 69
CVLC Calmar Ratio Rank: 62
CVLC Martin Ratio Rank: 74

ITOT

ITOT Risk / Return Rank: 68
ITOT Sharpe Ratio Rank: 69
ITOT Sortino Ratio Rank: 68
ITOT Omega Ratio Rank: 67
ITOT Calmar Ratio Rank: 63
ITOT Martin Ratio Rank: 75

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. ITOT - 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 Core S&P Total U.S. Stock Market ETF (ITOT). 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.

	CVLC	ITOT	Difference
Sharpe ratio Return per unit of total volatility	2.36	2.32	+0.04
Sortino ratio Return per unit of downside risk	3.26	3.17	+0.09
Omega ratio Gain probability vs. loss probability	1.42	1.42	0.00
Calmar ratio Return relative to maximum drawdown	3.06	3.17	-0.11
Martin ratio Return relative to average drawdown	14.09	14.57	-0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVLC vs. ITOT - Sharpe Ratio Comparison

The current CVLC Sharpe Ratio is 2.36, which is comparable to the ITOT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of CVLC and ITOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CVLC	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.32	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.57	+0.80

Drawdowns

CVLC vs. ITOT - Drawdown Comparison

The maximum CVLC drawdown since its inception was -19.92%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for CVLC and ITOT.

Drawdown Indicators

	CVLC	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-55.20%	+35.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-8.90%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-19.44%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-0.73%	-0.73%	0.00%
Average Drawdown Average peak-to-trough decline	-2.41%	-6.97%	+4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.94%	+0.15%

Volatility

CVLC vs. ITOT - Volatility Comparison

Calvert US Large-Cap Core Responsible Index ETF (CVLC) has a higher volatility of 3.36% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 2.99%. This indicates that CVLC's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLC	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	2.99%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	9.13%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	12.20%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	17.36%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	18.26%	-2.71%

CVLC vs. ITOT - Expense Ratio Comparison

CVLC has a 0.15% expense ratio, which is higher than ITOT's 0.03% 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. ITOT - Dividend Comparison

CVLC's dividend yield for the trailing twelve months is around 0.89%, less than ITOT's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVLC Calvert US Large-Cap Core Responsible Index ETF	0.89%	1.02%	1.03%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.98%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%

Frequently Asked Questions

Can I hold both CVLC and ITOT in my portfolio?

With a correlation of 0.98, CVLC and ITOT 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 ITOT?

CVLC has higher volatility (3.36%) compared to ITOT (2.99%). In terms of maximum drawdown, CVLC dropped -19.92% vs ITOT's -55.20%.

Which ETF is better, CVLC or ITOT?

On 3-year performance, CVLC leads with 22.30% vs 22.09% for ITOT. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVLC or ITOT?

Over the 3-year period, CVLC has performed better with a 22.30% return vs 22.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVLC or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.15% for CVLC.

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

ITOT has the higher dividend yield at 0.98%, compared with 0.89% for CVLC.

What is the main difference between CVLC and ITOT?

CVLC is categorized as Large Cap Blend Equities, while ITOT is Large Cap Growth Equities. CVLC tracks Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross, while ITOT tracks S&P Composite 1500 Index. They also come from different issuers: Calvert and iShares. Their fees differ too: 0.15% for CVLC and 0.03% for ITOT.

Which has better risk-adjusted returns?

CVLC currently has the higher Sharpe Ratio (2.36 vs 2.32), 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.