CVLC vs. KLIP

Last updated Jun 4, 2026

CVLC (Calvert US Large-Cap Core Responsible Index ETF) and KLIP (KraneShares China Internet and Covered Call Strategy 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 KLIP is a Options Trading fund managed by CICC. Over the past 3 years, CVLC returned 22.30%/yr vs 8.39%/yr for KLIP. At a 0.42 correlation, their price movements are largely independent. CVLC charges 0.15%/yr vs 0.95%/yr for KLIP.

Performance

CVLC vs. KLIP - 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 KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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 KLIP's -7.94% return.

CVLC

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

KLIP

• 1D: -2.14%
• 1M: -2.02%
• YTD: -7.94%
• 6M: -9.28%
• 1Y: 1.16%
• 3Y*: 8.39%
• 5Y*: —
• 10Y*: —

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

CVLC vs. KLIP - 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%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-7.94%	16.92%	3.37%	8.34%

Correlation

The correlation between CVLC and KLIP is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.42

CVLC vs. KLIP - Sectors Allocation Comparison

Sectors	CVLC	KLIP
Technology	39.5%	3.6%
Financial Services	11.8%	2.0%
Industrials	9.9%	-
Healthcare	9.1%	6.9%
Consumer Cyclical	8.7%	38.4%
Communication Services	8.5%	40.1%
Consumer Defensive	4.6%	4.3%
Real Estate	2.7%	4.8%
Utilities	2.2%	-
Basic Materials	2.1%	-
Energy	0.5%	-

Return for Risk

CVLC vs. KLIP — 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

KLIP

KLIP Risk / Return Rank: 9
KLIP Sharpe Ratio Rank: 9
KLIP Sortino Ratio Rank: 9
KLIP Omega Ratio Rank: 9
KLIP Calmar Ratio Rank: 9
KLIP Martin Ratio Rank: 9

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. KLIP - 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 KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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	KLIP	Difference
Sharpe ratio: Return per unit of total volatility	2.36	0.07	+2.28
Sortino ratio: Return per unit of downside risk	3.26	0.21	+3.05
Omega ratio: Gain probability vs. loss probability	1.42	1.03	+0.39
Calmar ratio: Return relative to maximum drawdown	3.06	0.07	+2.99
Martin ratio: Return relative to average drawdown	14.09	0.17	+13.91
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. KLIP - Sharpe Ratio Comparison

The current CVLC Sharpe Ratio is 2.36, which is higher than the KLIP Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of CVLC and KLIP, 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	KLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	0.07	+2.28
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.35	+1.02

Drawdowns

CVLC vs. KLIP - Drawdown Comparison

The maximum CVLC drawdown since its inception was -19.92%, which is greater than KLIP's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for CVLC and KLIP.

Drawdown Indicators

	CVLC	KLIP	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-18.61%	-1.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-15.97%	+6.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-18.61%	-1.31%
Current Drawdown Current decline from peak	-0.73%	-13.22%	+12.49%
Average Drawdown Average peak-to-trough decline	-2.41%	-3.79%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	6.70%	-4.61%

Volatility

CVLC vs. KLIP - Volatility Comparison

The current volatility for Calvert US Large-Cap Core Responsible Index ETF (CVLC) is 3.36%, while KraneShares China Internet and Covered Call Strategy ETF (KLIP) has a volatility of 5.71%. This indicates that CVLC experiences smaller price fluctuations and is considered to be less risky than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLC	KLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	5.71%	-2.35%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	12.86%	-3.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	15.84%	-3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	18.13%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	18.13%	-2.58%

CVLC vs. KLIP - Expense Ratio Comparison

CVLC has a 0.15% expense ratio, which is lower than KLIP's 0.95% expense ratio.

Dividends

CVLC vs. KLIP - Dividend Comparison

CVLC's dividend yield for the trailing twelve months is around 0.89%, less than KLIP's 28.17% yield.

Position	TTM	2025	2024	2023
CVLC Calvert US Large-Cap Core Responsible Index ETF	0.89%	1.02%	1.03%	0.91%
KLIP KraneShares China Internet and Covered Call Strategy ETF	28.17%	25.14%	54.26%	61.22%

Frequently Asked Questions

Can I hold both CVLC and KLIP in my portfolio?

CVLC and KLIP have a correlation of 0.45, 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 KLIP?

KLIP has higher volatility (5.71%) compared to CVLC (3.36%). In terms of maximum drawdown, CVLC dropped -19.92% vs KLIP's -18.61%.

Which ETF is better, CVLC or KLIP?

On 3-year performance, CVLC leads with 22.30% vs 8.39% for KLIP. On fees, CVLC is cheaper at 0.15% per year. On volatility, CVLC has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVLC or KLIP?

Over the 3-year period, CVLC has performed better with a 22.30% return vs 8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVLC or KLIP?

CVLC is cheaper with a 0.15% expense ratio, compared with 0.95% for KLIP.

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

KLIP has the higher dividend yield at 28.17%, compared with 0.89% for CVLC.

What is the main difference between CVLC and KLIP?

CVLC is categorized as Large Cap Blend Equities, while KLIP is Options Trading. They also come from different issuers: Calvert and CICC. Their fees differ too: 0.15% for CVLC and 0.95% for KLIP.

Which has better risk-adjusted returns?

CVLC currently has the higher Sharpe Ratio (2.36 vs 0.07), 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.