CVMC vs. CPAI

Last updated Jun 4, 2026

CVMC (Calvert US Mid-Cap Core Responsible Index ETF) and CPAI (Counterpoint Quantitative Equity ETF) are both Mid Cap Blend Equities funds. CVMC is passively managed, while CPAI is actively managed. Over the past year, CVMC returned 25.78% vs 45.47% for CPAI. A 0.78 correlation means they provide meaningful diversification when combined. CVMC charges 0.15%/yr vs 0.75%/yr for CPAI.

Performance

CVMC vs. CPAI - 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 Counterpoint Quantitative Equity ETF (CPAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVMC achieves a 15.51% return, which is significantly lower than CPAI's 27.41% return.

CVMC

• 1D: -0.01%
• 1M: 6.27%
• YTD: 15.51%
• 6M: 15.72%
• 1Y: 25.78%
• 3Y*: 16.44%
• 5Y*: —
• 10Y*: —

CPAI

• 1D: -1.84%
• 1M: 8.24%
• YTD: 27.41%
• 6M: 29.49%
• 1Y: 45.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVMC vs. CPAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVMC Calvert US Mid-Cap Core Responsible Index ETF	15.51%	9.52%	12.57%	9.25%
CPAI Counterpoint Quantitative Equity ETF	27.41%	17.79%	28.37%	6.69%

Correlation

The correlation between CVMC and CPAI is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.78

The correlation between CVMC and CPAI has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

CVMC vs. CPAI - Sectors Allocation Comparison

Sectors	CVMC	CPAI
Technology	20.9%	45.4%
Industrials	20.6%	5.7%
Financial Services	13.1%	4.3%
Healthcare	10.1%	16.0%
Consumer Cyclical	10.0%	4.2%
Real Estate	7.1%	-
Utilities	6.0%	-
Consumer Defensive	5.5%	9.5%
Communication Services	2.9%	7.9%
Basic Materials	2.6%	3.3%
Energy	1.1%	3.7%

Return for Risk

CVMC vs. CPAI — Risk / Return Rank

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

CVMC

CVMC Risk / Return Rank: 57
CVMC Sharpe Ratio Rank: 55
CVMC Sortino Ratio Rank: 58
CVMC Omega Ratio Rank: 53
CVMC Calmar Ratio Rank: 57
CVMC Martin Ratio Rank: 62

CPAI

CPAI Risk / Return Rank: 77
CPAI Sharpe Ratio Rank: 78
CPAI Sortino Ratio Rank: 73
CPAI Omega Ratio Rank: 71
CPAI Calmar Ratio Rank: 82
CPAI Martin Ratio Rank: 81

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.

CVMC vs. CPAI - 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 Counterpoint Quantitative Equity ETF (CPAI). 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.

	CVMC	CPAI	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.52	-0.66
Sortino ratio: Return per unit of downside risk	2.75	3.33	-0.58
Omega ratio: Gain probability vs. loss probability	1.33	1.43	-0.10
Calmar ratio: Return relative to maximum drawdown	2.77	4.36	-1.59
Martin ratio: Return relative to average drawdown	11.15	15.90	-4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVMC vs. CPAI - Sharpe Ratio Comparison

The current CVMC Sharpe Ratio is 1.86, which is comparable to the CPAI Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of CVMC and CPAI, 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

	CVMC	CPAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	2.52	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.78	-1.01

Drawdowns

CVMC vs. CPAI - Drawdown Comparison

The maximum CVMC drawdown since its inception was -22.53%, roughly equal to the maximum CPAI drawdown of -21.46%. Use the drawdown chart below to compare losses from any high point for CVMC and CPAI.

Drawdown Indicators

	CVMC	CPAI	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-21.46%	-1.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.35%	-10.48%	+1.13%
Max Drawdown (3Y) Largest decline over 3 years	-22.53%	—	—
Current Drawdown Current decline from peak	-0.01%	-1.84%	+1.83%
Average Drawdown Average peak-to-trough decline	-4.18%	-2.97%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.87%	-0.55%

Volatility

CVMC vs. CPAI - Volatility Comparison

The current volatility for Calvert US Mid-Cap Core Responsible Index ETF (CVMC) is 3.95%, while Counterpoint Quantitative Equity ETF (CPAI) has a volatility of 5.35%. This indicates that CVMC experiences smaller price fluctuations and is considered to be less risky than CPAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVMC	CPAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	5.35%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	14.50%	-3.99%
Volatility (1Y) Calculated over the trailing 1-year period	13.93%	18.14%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.46%	19.19%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	19.19%	-2.73%

CVMC vs. CPAI - Expense Ratio Comparison

CVMC has a 0.15% expense ratio, which is lower than CPAI's 0.75% expense ratio.

Dividends

CVMC vs. CPAI - Dividend Comparison

CVMC's dividend yield for the trailing twelve months is around 1.17%, more than CPAI's 0.70% yield.

Position	TTM	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	0.70%	0.89%	0.41%	0.06%
CVMC Calvert US Mid-Cap Core Responsible Index ETF	1.17%	1.39%	1.21%	1.00%

Frequently Asked Questions

Can I hold both CVMC and CPAI in my portfolio?

CVMC and CPAI have a correlation of 0.71, 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 CPAI?

CPAI has higher volatility (5.35%) compared to CVMC (3.95%). In terms of maximum drawdown, CVMC dropped -22.53% vs CPAI's -21.46%.

Which ETF is better, CVMC or CPAI?

On 1-year performance, CPAI leads with 45.47% vs 25.78% for CVMC. On fees, CVMC is cheaper at 0.15% per year. On volatility, CVMC 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, CVMC or CPAI?

Over the 1-year period, CPAI has performed better with a 45.47% return vs 25.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVMC or CPAI?

CVMC is cheaper with a 0.15% expense ratio, compared with 0.75% for CPAI.

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

CVMC has the higher dividend yield at 1.17%, compared with 0.70% for CPAI.

What is the main difference between CVMC and CPAI?

They also come from different issuers: Calvert and Counterpoint Funds. Their fees differ too: 0.15% for CVMC and 0.75% for CPAI.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.52 vs 1.86), 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.