CVMC vs. FLQM

Last updated Apr 1, 2026

Compare and contrast key facts about Calvert US Mid-Cap Core Responsible Index ETF (CVMC) and Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM).

CVMC and FLQM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVMC is a passively managed fund by Calvert that tracks the performance of the Russell Midcap Index. It was launched on Jan 30, 2023. FLQM is a passively managed fund by Franklin Templeton that tracks the performance of the LibertyQ U.S. Mid Cap Equity Index. It was launched on Apr 26, 2017. Both CVMC and FLQM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CVMC vs. FLQM - 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 Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM). The values are adjusted to include any dividend payments, if applicable.

CVMC vs. FLQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVMC Calvert US Mid-Cap Core Responsible Index ETF	0.08%	9.52%	12.57%	4.40%
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	-2.14%	5.16%	14.32%	8.92%

Returns By Period

In the year-to-date period, CVMC achieves a 0.08% return, which is significantly higher than FLQM's -2.14% return.

CVMC

• 1D: 2.84%
• 1M: -6.16%
• YTD: 0.08%
• 6M: 1.53%
• 1Y: 14.43%
• 3Y*: 10.84%
• 5Y*: —
• 10Y*: —

FLQM

• 1D: 1.55%
• 1M: -5.77%
• YTD: -2.14%
• 6M: -1.93%
• 1Y: 5.22%
• 3Y*: 9.81%
• 5Y*: 7.29%
• 10Y*: —

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

CVMC vs. FLQM - Expense Ratio Comparison

CVMC has a 0.15% expense ratio, which is lower than FLQM's 0.30% expense ratio.

FLQM

Franklin LibertyQ U.S. Mid Cap Equity ETF

CVMC

Calvert US Mid-Cap Core Responsible Index ETF

Return for Risk

CVMC vs. FLQM — Risk / Return Rank

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

CVMC

CVMC Risk / Return Rank: 43
CVMC Sharpe Ratio Rank: 39
CVMC Sortino Ratio Rank: 42
CVMC Omega Ratio Rank: 41
CVMC Calmar Ratio Rank: 41
CVMC Martin Ratio Rank: 50

FLQM

FLQM Risk / Return Rank: 22
FLQM Sharpe Ratio Rank: 21
FLQM Sortino Ratio Rank: 21
FLQM Omega Ratio Rank: 21
FLQM Calmar Ratio Rank: 23
FLQM Martin Ratio Rank: 26

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. FLQM - 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 Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM). 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	FLQM	Difference
Sharpe ratio Return per unit of total volatility	0.73	0.30	+0.43
Sortino ratio Return per unit of downside risk	1.20	0.56	+0.63
Omega ratio Gain probability vs. loss probability	1.16	1.07	+0.09
Calmar ratio Return relative to maximum drawdown	1.05	0.48	+0.57
Martin ratio Return relative to average drawdown	4.92	1.96	+2.96
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. FLQM - Sharpe Ratio Comparison

The current CVMC Sharpe Ratio is 0.73, which is higher than the FLQM Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of CVMC and FLQM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CVMC	FLQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	0.30	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.56	-0.06

Correlation

The correlation between CVMC and FLQM is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CVMC vs. FLQM - Dividend Comparison

CVMC's dividend yield for the trailing twelve months is around 1.35%, less than FLQM's 1.56% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVMC Calvert US Mid-Cap Core Responsible Index ETF	1.35%	1.39%	1.21%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	1.56%	1.49%	1.28%	1.27%	1.33%	1.05%	1.10%	1.37%	1.42%	1.15%

Drawdowns

CVMC vs. FLQM - Drawdown Comparison

The maximum CVMC drawdown since its inception was -22.53%, smaller than the maximum FLQM drawdown of -37.26%. Use the drawdown chart below to compare losses from any high point for CVMC and FLQM.

Drawdown Indicators

	CVMC	FLQM	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-37.26%	+14.73%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-12.77%	-1.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.51%	—
Current Drawdown Current decline from peak	-6.77%	-6.06%	-0.71%
Average Drawdown Average peak-to-trough decline	-4.34%	-4.95%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	3.12%	-0.09%

Volatility

CVMC vs. FLQM - Volatility Comparison

Calvert US Mid-Cap Core Responsible Index ETF (CVMC) has a higher volatility of 5.78% compared to Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM) at 3.73%. This indicates that CVMC's price experiences larger fluctuations and is considered to be riskier than FLQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVMC	FLQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	3.73%	+2.05%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	8.94%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	19.89%	17.46%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	16.44%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	18.60%	-2.06%