CVMC vs. ESGV

Last updated Aug 2, 2026

CVMC (Calvert US Mid-Cap Core Responsible Index ETF) and ESGV (Vanguard ESG U.S. Stock ETF) are both exchange-traded funds - CVMC is a Mid Cap Blend Equities fund tracking the Russell Midcap Index, while ESGV is a Large Cap Blend Equities fund tracking the FTSE US All Cap Choice Index. Both are passively managed. Over the past 3 years, CVMC returned 14.66%/yr vs 19.06%/yr for ESGV. Their correlation of 0.82 means they have usually moved in the same direction. CVMC charges 0.15%/yr vs 0.09%/yr for ESGV.

Performance

CVMC vs. ESGV - 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 Vanguard ESG U.S. Stock ETF (ESGV). 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 ESGV's 9.66% 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%

ESGV

• 1D: 0.68%
• 1M: 0.09%
• 6M: 9.06%
• YTD: 9.66%
• 1Y: 21.29%
• 3Y*: 19.06%
• 5Y*: 11.32%
• 10Y*: —
• ALL TIME*: 14.36%

*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)
CVMC Calvert US Mid-Cap Core Responsible Index ETF	$208.77K	$235.08K	$243.94K
ESGV Vanguard ESG U.S. Stock ETF	$15.60M	$18.04M	$25.74M

CVMC vs. ESGV - 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%
ESGV Vanguard ESG U.S. Stock ETF	9.66%	16.48%	24.69%	21.21%

Correlation

The correlation between CVMC and ESGV 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.	0.81
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.82

The correlation between CVMC and ESGV has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

CVMC vs. ESGV - Sectors Allocation Comparison

Sectors	CVMC	ESGV
Industrials	20.1%	4.2%
Technology	17.3%	43.1%
Financial Services	15.7%	11.9%
Healthcare	12.8%	10.1%
Consumer Cyclical	9.2%	11.2%
Real Estate	7.8%	2.6%
Utilities	5.8%	0.1%
Consumer Defensive	5.2%	3.7%
Basic Materials	3.0%	2.0%
Communication Services	2.8%	11.2%
Energy	0.3%	0.0%

Return for Risk

CVMC vs. ESGV — 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

ESGV

ESGV Risk / Return Rank: 53
ESGV Sharpe Ratio Rank: 55
ESGV Sortino Ratio Rank: 53
ESGV Omega Ratio Rank: 53
ESGV Calmar Ratio Rank: 46
ESGV Martin Ratio Rank: 56

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. ESGV - 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 Vanguard ESG U.S. Stock ETF (ESGV). 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	ESGV	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.31	+0.42
Sortino ratio: Return per unit of downside risk	2.55	1.85	+0.70
Omega ratio: Gain probability vs. loss probability	1.31	1.23	+0.07
Calmar ratio: Return relative to maximum drawdown	2.65	1.65	+1.00
Martin ratio: Return relative to average drawdown	10.74	6.66	+4.08

CVMC vs. ESGV - Sharpe Ratio Comparison

The current CVMC Sharpe Ratio is 1.73, which is higher than the ESGV Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of CVMC and ESGV, 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. ESGV - Drawdown Comparison

The maximum CVMC drawdown since its inception was -22.53%, smaller than the maximum ESGV drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for CVMC and ESGV.

Drawdown Indicators

	CVMC	ESGV	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-33.66%	+11.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.35%	-11.60%	+2.25%
Max Drawdown (3Y) Largest decline over 3 years	-22.53%	-20.41%	-2.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.81%	—
Current Drawdown Current decline from peak	-1.41%	-1.85%	+0.44%
Average Drawdown Average peak-to-trough decline	-4.03%	-6.34%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.87%	-0.56%

Volatility

CVMC vs. ESGV - Volatility Comparison

The current volatility for Calvert US Mid-Cap Core Responsible Index ETF (CVMC) is 3.11%, while Vanguard ESG U.S. Stock ETF (ESGV) has a volatility of 4.17%. This indicates that CVMC experiences smaller price fluctuations and is considered to be less risky than ESGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVMC	ESGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	4.17%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	11.64%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	14.59%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	18.52%	-2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	20.52%	-4.15%

CVMC vs. ESGV - Expense Ratio Comparison

CVMC has a 0.15% expense ratio, which is higher than ESGV's 0.09% 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. ESGV - Dividend Comparison

CVMC's dividend yield for the trailing twelve months is around 1.18%, more than ESGV's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CVMC Calvert US Mid-Cap Core Responsible Index ETF	1.18%	1.39%	1.21%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ESGV Vanguard ESG U.S. Stock ETF	0.87%	0.91%	1.04%	1.16%	1.42%	0.95%	1.11%	1.27%	0.28%

Frequently Asked Questions

Can I hold both CVMC and ESGV in my portfolio?

CVMC and ESGV 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 ESGV?

ESGV has higher volatility (4.17%) compared to CVMC (3.11%). In terms of maximum drawdown, CVMC dropped -22.53% vs ESGV's -33.66%.

Which ETF is better, CVMC or ESGV?

On 3-year performance, ESGV leads with 19.06% vs 14.66% for CVMC. On fees, ESGV is cheaper at 0.09% 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 ESGV?

Over the 3-year period, ESGV has performed better with a 19.06% 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 ESGV?

ESGV is cheaper with a 0.09% expense ratio, compared with 0.15% for CVMC.

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

CVMC has the higher dividend yield at 1.18%, compared with 0.87% for ESGV.

What is the main difference between CVMC and ESGV?

CVMC is categorized as Mid Cap Blend Equities, while ESGV is Large Cap Blend Equities. CVMC tracks Russell Midcap Index, while ESGV tracks FTSE US All Cap Choice Index. They also come from different issuers: Calvert and Vanguard. Their fees differ too: 0.15% for CVMC and 0.09% for ESGV.

Which has better risk-adjusted returns?

CVMC currently has the higher Sharpe Ratio (1.73 vs 1.31), 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.