CVMC vs. CDEI

Last updated Aug 2, 2026

CVMC (Calvert US Mid-Cap Core Responsible Index ETF) and CDEI (Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF) are both exchange-traded funds - CVMC is a Mid Cap Blend Equities fund tracking the Russell Midcap Index, while CDEI is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Both are passively managed. Over the past 3 years, CVMC returned 14.66%/yr vs 17.59%/yr for CDEI. Their 0.80 correlation means they have sometimes moved together and sometimes differently. CVMC charges 0.15%/yr vs 0.14%/yr for CDEI.

Performance

CVMC vs. CDEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Mid-Cap Core Responsible Index ETF (CVMC) and Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVMC achieves a 18.88% return, which is significantly higher than CDEI's 11.21% return.

CVMC

• 1D: -0.26%
• 1M: -0.69%
• 6M: 15.14%
• YTD: 18.88%
• 1Y: 25.98%
• 3Y*: 14.66%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.48%

CDEI

• 1D: 0.33%
• 1M: 0.13%
• 6M: 11.32%
• YTD: 11.21%
• 1Y: 24.16%
• 3Y*: 17.59%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.99%

*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)
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	$669.24K	$332.56K	$157.58K
CVMC Calvert US Mid-Cap Core Responsible Index ETF	$208.77K	$235.08K	$243.94K

CVMC vs. CDEI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVMC Calvert US Mid-Cap Core Responsible Index ETF	18.88%	9.52%	12.57%	6.14%
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	11.21%	16.60%	18.67%	22.82%

Correlation

The correlation between CVMC and CDEI is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.80

The correlation between CVMC and CDEI has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

CVMC vs. CDEI - Sectors Allocation Comparison

Sectors	CVMC	CDEI
Industrials	20.1%	7.4%
Technology	17.3%	42.5%
Financial Services	15.7%	15.7%
Healthcare	12.8%	12.2%
Consumer Cyclical	9.2%	3.4%
Real Estate	7.8%	2.2%
Utilities	5.8%	1.6%
Consumer Defensive	5.2%	3.9%
Basic Materials	3.0%	0.2%
Communication Services	2.8%	10.4%
Energy	0.3%	0.4%

Return for Risk

CVMC vs. CDEI — Risk / Return Rank

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

CVMC

CVMC Risk / Return Rank: 77
CVMC Sharpe Ratio Rank: 76
CVMC Sortino Ratio Rank: 78
CVMC Omega Ratio Rank: 73
CVMC Calmar Ratio Rank: 75
CVMC Martin Ratio Rank: 81

CDEI

CDEI Risk / Return Rank: 72
CDEI Sharpe Ratio Rank: 75
CDEI Sortino Ratio Rank: 73
CDEI Omega Ratio Rank: 71
CDEI Calmar Ratio Rank: 65
CDEI Martin Ratio Rank: 76

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.

CVMC vs. CDEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Mid-Cap Core Responsible Index ETF (CVMC) and Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI). 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.

	CVMC	CDEI	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.72	+0.01
Sortino ratio: Return per unit of downside risk	2.55	2.39	+0.16
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	2.65	2.27	+0.38
Martin ratio: Return relative to average drawdown	10.74	9.68	+1.06

CVMC vs. CDEI - Sharpe Ratio Comparison

The current CVMC Sharpe Ratio is 1.73, which is comparable to the CDEI Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of CVMC and CDEI, 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

CVMC vs. CDEI - Drawdown Comparison

The maximum CVMC drawdown since its inception was -22.53%, which is greater than CDEI's maximum drawdown of -19.46%. Use the drawdown chart below to compare losses from any high point for CVMC and CDEI.

Drawdown Indicators

	CVMC	CDEI	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-19.46%	-3.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.35%	-9.88%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-22.53%	-19.46%	-3.07%
Current Drawdown Current decline from peak	-1.41%	-0.51%	-0.90%
Average Drawdown Average peak-to-trough decline	-4.03%	-2.23%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.32%	-0.01%

Volatility

CVMC vs. CDEI - Volatility Comparison

The current volatility for Calvert US Mid-Cap Core Responsible Index ETF (CVMC) is 3.11%, while Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) has a volatility of 4.75%. This indicates that CVMC experiences smaller price fluctuations and is considered to be less risky than CDEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVMC	CDEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	4.75%	-1.64%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	10.47%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	13.09%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	15.07%	+1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	15.07%	+1.30%

CVMC vs. CDEI - Expense Ratio Comparison

CVMC has a 0.15% expense ratio, which is higher than CDEI's 0.14% 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

CVMC vs. CDEI - Dividend Comparison

CVMC's dividend yield for the trailing twelve months is around 1.18%, more than CDEI's 0.98% yield.

Position	TTM	2025	2024	2023
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	0.98%	1.05%	1.22%	1.16%
CVMC Calvert US Mid-Cap Core Responsible Index ETF	1.18%	1.39%	1.21%	1.00%

Frequently Asked Questions

Can I hold both CVMC and CDEI in my portfolio?

CVMC and CDEI have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVMC or CDEI?

CDEI has higher volatility (4.75%) compared to CVMC (3.11%). In terms of maximum drawdown, CVMC dropped -22.53% vs CDEI's -19.46%.

Which ETF is better, CVMC or CDEI?

On 3-year performance, CDEI leads with 17.59% vs 14.66% for CVMC. On fees, CDEI is cheaper at 0.14% per year. On volatility, CVMC has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVMC or CDEI?

Over the 3-year period, CDEI has performed better with a 17.59% return vs 14.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVMC or CDEI?

CDEI is cheaper with a 0.14% expense ratio, compared with 0.15% for CVMC.

Which ETF pays a higher dividend yield, CVMC or CDEI?

CVMC has the higher dividend yield at 1.18%, compared with 0.98% for CDEI.

What is the main difference between CVMC and CDEI?

CVMC is categorized as Mid Cap Blend Equities, while CDEI is Large Cap Blend Equities. CVMC tracks Russell Midcap Index, while CDEI tracks Russell 1000 Index. Their fees differ too: 0.15% for CVMC and 0.14% for CDEI.

Which has better risk-adjusted returns?

CVMC currently has the higher Sharpe Ratio (1.73 vs 1.72), 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.