CVLC vs. THLV

Last updated Jun 24, 2026

CVLC (Calvert US Large-Cap Core Responsible Index ETF) and THLV (THOR Equal Weight Low Volatility ETF) are both Large Cap Blend Equities funds - CVLC tracks the Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross while THLV tracks the THOR Equal Weight Low Volatility Index. Both are passively managed. Over the past 3 years, CVLC returned 20.91%/yr vs 12.14%/yr for THLV. A 0.78 correlation means they provide meaningful diversification when combined. CVLC charges 0.15%/yr vs 0.64%/yr for THLV.

Performance

CVLC vs. THLV - 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 THOR Equal Weight Low Volatility ETF (THLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CVLC having a 10.46% return and THLV slightly lower at 10.20%.

CVLC

• 1D: -1.42%
• 1M: 0.19%
• YTD: 10.46%
• 6M: 9.54%
• 1Y: 26.31%
• 3Y*: 20.91%
• 5Y*: —
• 10Y*: —

THLV

• 1D: -0.82%
• 1M: 1.23%
• YTD: 10.20%
• 6M: 9.69%
• 1Y: 18.38%
• 3Y*: 12.14%
• 5Y*: —
• 10Y*: —

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

CVLC vs. THLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVLC Calvert US Large-Cap Core Responsible Index ETF	10.46%	16.13%	24.20%	19.04%
THLV THOR Equal Weight Low Volatility ETF	10.20%	10.50%	9.52%	1.96%

Correlation

The correlation between CVLC and THLV is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.78

The correlation between CVLC and THLV has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.

CVLC vs. THLV - Sectors Allocation Comparison

Sectors	CVLC	THLV
Technology	39.8%	18.1%
Financial Services	12.0%	13.4%
Industrials	10.2%	13.2%
Healthcare	9.2%	12.5%
Consumer Cyclical	8.8%	15.7%
Communication Services	8.7%	0.2%
Consumer Defensive	4.6%	13.7%
Real Estate	2.7%	13.9%
Basic Materials	2.0%	11.9%
Utilities	1.7%	13.7%
Energy	0.4%	17.5%

Return for Risk

CVLC vs. THLV — Risk / Return Rank

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

CVLC

CVLC Risk / Return Rank: 66
CVLC Sharpe Ratio Rank: 67
CVLC Sortino Ratio Rank: 65
CVLC Omega Ratio Rank: 64
CVLC Calmar Ratio Rank: 60
CVLC Martin Ratio Rank: 71

THLV

THLV Risk / Return Rank: 57
THLV Sharpe Ratio Rank: 58
THLV Sortino Ratio Rank: 58
THLV Omega Ratio Rank: 55
THLV Calmar Ratio Rank: 61
THLV Martin Ratio Rank: 52

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. THLV - 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 THOR Equal Weight Low Volatility ETF (THLV). 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	THLV	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.80	+0.22
Sortino ratio: Return per unit of downside risk	2.79	2.53	+0.26
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.04
Calmar ratio: Return relative to maximum drawdown	2.75	2.77	-0.02
Martin ratio: Return relative to average drawdown	12.34	8.24	+4.09

CVLC vs. THLV - Sharpe Ratio Comparison

The current CVLC Sharpe Ratio is 2.02, which is comparable to the THLV Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of CVLC and THLV, 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. THLV - Drawdown Comparison

The maximum CVLC drawdown since its inception was -19.92%, which is greater than THLV's maximum drawdown of -13.15%. Use the drawdown chart below to compare losses from any high point for CVLC and THLV.

Drawdown Indicators

	CVLC	THLV	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-13.15%	-6.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-6.66%	-2.95%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-13.15%	-6.77%
Current Drawdown Current decline from peak	-2.40%	-1.35%	-1.05%
Average Drawdown Average peak-to-trough decline	-2.40%	-3.74%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.23%	-0.09%

Volatility

CVLC vs. THLV - Volatility Comparison

Calvert US Large-Cap Core Responsible Index ETF (CVLC) has a higher volatility of 4.97% compared to THOR Equal Weight Low Volatility ETF (THLV) at 3.95%. This indicates that CVLC's price experiences larger fluctuations and is considered to be riskier than THLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLC	THLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	3.95%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	8.03%	+2.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	10.29%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.65%	11.81%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.65%	11.81%	+3.84%

CVLC vs. THLV - Expense Ratio Comparison

CVLC has a 0.15% expense ratio, which is lower than THLV's 0.64% expense ratio.

Dividends

CVLC vs. THLV - Dividend Comparison

CVLC's dividend yield for the trailing twelve months is around 0.93%, less than THLV's 1.61% yield.

Position	TTM	2025	2024	2023	2022
CVLC Calvert US Large-Cap Core Responsible Index ETF	0.93%	1.02%	1.03%	0.91%	0.00%
THLV THOR Equal Weight Low Volatility ETF	1.61%	1.77%	1.25%	2.72%	0.62%

Frequently Asked Questions

Can I hold both CVLC and THLV in my portfolio?

CVLC and THLV have a correlation of 0.68, 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 THLV?

CVLC has higher volatility (4.97%) compared to THLV (3.95%). In terms of maximum drawdown, CVLC dropped -19.92% vs THLV's -13.15%.

Which ETF is better, CVLC or THLV?

On 3-year performance, CVLC leads with 20.91% vs 12.14% for THLV. On fees, CVLC is cheaper at 0.15% per year. On volatility, THLV has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVLC or THLV?

Over the 3-year period, CVLC has performed better with a 20.91% return vs 12.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVLC or THLV?

CVLC is cheaper with a 0.15% expense ratio, compared with 0.64% for THLV.

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

THLV has the higher dividend yield at 1.61%, compared with 0.93% for CVLC.

What is the main difference between CVLC and THLV?

CVLC tracks Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross, while THLV tracks THOR Equal Weight Low Volatility Index. They also come from different issuers: Calvert and THOR. Their fees differ too: 0.15% for CVLC and 0.64% for THLV.

Which has better risk-adjusted returns?

CVLC currently has the higher Sharpe Ratio (2.02 vs 1.80), 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.