CVMIX vs. CSIFX

Last updated Aug 5, 2026

CVMIX (Calvert Emerging Markets Equity Fund) and CSIFX (Calvert Balanced Fund) are both mutual funds - CVMIX is a Emerging Markets Equities fund managed by Calvert, while CSIFX is a Diversified Portfolio fund managed by Calvert. Over the past 10 years, CVMIX returned 9.38%/yr vs 9.24%/yr for CSIFX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. CVMIX charges 0.99%/yr vs 0.91%/yr for CSIFX.

Performance

CVMIX vs. CSIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Emerging Markets Equity Fund (CVMIX) and Calvert Balanced Fund (CSIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVMIX achieves a 23.37% return, which is significantly higher than CSIFX's 4.25% return. Both investments have delivered pretty close results over the past 10 years, with CVMIX having a 9.38% annualized return and CSIFX not far behind at 9.24%.

CVMIX

• 1D: 0.82%
• 1M: -1.42%
• 6M: 11.90%
• YTD: 23.37%
• 1Y: 44.42%
• 3Y*: 21.27%
• 5Y*: 6.05%
• 10Y*: 9.38%
• ALL TIME*: 7.64%

CSIFX

• 1D: 0.97%
• 1M: 1.34%
• 6M: 4.56%
• YTD: 4.25%
• 1Y: 9.09%
• 3Y*: 13.69%
• 5Y*: 7.19%
• 10Y*: 9.24%
• ALL TIME*: 7.32%

*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)
CSIFX Calvert Balanced Fund	$0.00	$0.00	$0.00
CVMIX Calvert Emerging Markets Equity Fund	$0.00	$0.00	$0.00

CVMIX vs. CSIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVMIX Calvert Emerging Markets Equity Fund	23.37%	36.77%	6.37%	4.74%	-22.57%	-7.43%	24.88%	22.65%	-15.23%	44.71%
CSIFX Calvert Balanced Fund	4.25%	11.32%	18.96%	16.35%	-15.33%	14.30%	15.43%	23.71%	-2.75%	10.72%

Correlation

The correlation between CVMIX and CSIFX is 0.72, 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.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.63

The correlation between CVMIX and CSIFX shifts across timeframes, from 0.62 (5 years) to 0.72 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CVMIX vs. CSIFX — Risk / Return Rank

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

CVMIX

CVMIX Risk / Return Rank: 70
CVMIX Sharpe Ratio Rank: 71
CVMIX Sortino Ratio Rank: 56
CVMIX Omega Ratio Rank: 70
CVMIX Calmar Ratio Rank: 81
CVMIX Martin Ratio Rank: 71

CSIFX

CSIFX Risk / Return Rank: 29
CSIFX Sharpe Ratio Rank: 29
CSIFX Sortino Ratio Rank: 28
CSIFX Omega Ratio Rank: 28
CSIFX Calmar Ratio Rank: 25
CSIFX Martin Ratio Rank: 33

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.

CVMIX vs. CSIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Emerging Markets Equity Fund (CVMIX) and Calvert Balanced Fund (CSIFX). 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.

	CVMIX	CSIFX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.10	+0.70
Sortino ratio: Return per unit of downside risk	2.30	1.61	+0.69
Omega ratio: Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio: Return relative to maximum drawdown	2.89	1.29	+1.60
Martin ratio: Return relative to average drawdown	9.65	5.33	+4.32

CVMIX vs. CSIFX - Sharpe Ratio Comparison

The current CVMIX Sharpe Ratio is 1.80, which is higher than the CSIFX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of CVMIX and CSIFX, 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

CVMIX vs. CSIFX - Drawdown Comparison

The maximum CVMIX drawdown since its inception was -43.96%, which is greater than CSIFX's maximum drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for CVMIX and CSIFX.

Drawdown Indicators

	CVMIX	CSIFX	Difference
Max Drawdown Largest peak-to-trough decline	-43.96%	-38.68%	-5.28%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-7.98%	-8.05%
Max Drawdown (3Y) Largest decline over 3 years	-17.48%	-11.86%	-5.62%
Max Drawdown (5Y) Largest decline over 5 years	-38.08%	-19.95%	-18.13%
Max Drawdown (10Y) Largest decline over 10 years	-43.96%	-23.77%	-20.19%
Current Drawdown Current decline from peak	-9.32%	0.00%	-9.32%
Average Drawdown Average peak-to-trough decline	-14.13%	-5.29%	-8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	1.92%	+2.87%

Volatility

CVMIX vs. CSIFX - Volatility Comparison

Calvert Emerging Markets Equity Fund (CVMIX) has a higher volatility of 10.80% compared to Calvert Balanced Fund (CSIFX) at 3.05%. This indicates that CVMIX's price experiences larger fluctuations and is considered to be riskier than CSIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVMIX	CSIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.80%	3.05%	+7.75%
Volatility (6M) Calculated over the trailing 6-month period	23.82%	7.63%	+16.19%
Volatility (1Y) Calculated over the trailing 1-year period	25.75%	9.37%	+16.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	11.01%	+8.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	11.11%	+7.96%

CVMIX vs. CSIFX - Expense Ratio Comparison

CVMIX has a 0.99% expense ratio, which is higher than CSIFX's 0.91% expense ratio.

Dividends

CVMIX vs. CSIFX - Dividend Comparison

CVMIX's dividend yield for the trailing twelve months is around 1.83%, less than CSIFX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSIFX Calvert Balanced Fund	4.30%	4.76%	5.23%	2.37%	2.32%	7.61%	2.43%	3.45%	5.25%	7.41%	2.68%	12.56%
CVMIX Calvert Emerging Markets Equity Fund	1.83%	2.26%	0.63%	0.92%	0.79%	0.76%	0.41%	0.68%	1.24%	0.27%	0.84%	1.26%

Frequently Asked Questions

Can I hold both CVMIX and CSIFX in my portfolio?

CVMIX and CSIFX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVMIX or CSIFX?

CVMIX has higher volatility (10.80%) compared to CSIFX (3.05%). In terms of maximum drawdown, CVMIX dropped -43.96% vs CSIFX's -38.68%.

Which has better risk-adjusted returns?

CVMIX currently has the higher Sharpe Ratio (1.80 vs 1.10), 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.