CVSB vs. CVSE

Last updated Apr 1, 2026

Compare and contrast key facts about Calvert Ultra-Short Investment Grade ETF (CVSB) and Calvert US Select Equity ETF (CVSE).

CVSB and CVSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVSB is an actively managed fund by Calvert. It was launched on Jan 30, 2023. CVSE is an actively managed fund by Calvert. It was launched on Jan 30, 2023.

Performance

CVSB vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Ultra-Short Investment Grade ETF (CVSB) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

CVSB vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVSB Calvert Ultra-Short Investment Grade ETF	0.72%	4.92%	6.23%	5.40%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	19.11%	13.35%

Returns By Period

CVSB

• 1D: 0.04%
• 1M: 0.04%
• YTD: 0.72%
• 6M: 1.97%
• 1Y: 4.58%
• 3Y*: 5.63%
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -0.46%
• 1Y: 15.26%
• 3Y*: 14.69%
• 5Y*: —
• 10Y*: —

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

CVSB vs. CVSE - Expense Ratio Comparison

CVSB has a 0.24% expense ratio, which is lower than CVSE's 0.29% expense ratio.

CVSE

Calvert US Select Equity ETF

CVSB

Calvert Ultra-Short Investment Grade ETF

Return for Risk

CVSB vs. CVSE — Risk / Return Rank

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

CVSB

CVSB Risk / Return Rank: 99
CVSB Sharpe Ratio Rank: 99
CVSB Sortino Ratio Rank: 99
CVSB Omega Ratio Rank: 99
CVSB Calmar Ratio Rank: 99
CVSB Martin Ratio Rank: 99

CVSE

CVSE Risk / Return Rank: 56
CVSE Sharpe Ratio Rank: 52
CVSE Sortino Ratio Rank: 56
CVSE Omega Ratio Rank: 84
CVSE Calmar Ratio Rank: 37
CVSE Martin Ratio Rank: 54

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.

CVSB vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Ultra-Short Investment Grade ETF (CVSB) and Calvert US Select Equity ETF (CVSE). 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.

	CVSB	CVSE	Difference
Sharpe ratio Return per unit of total volatility	4.09	0.95	+3.13
Sortino ratio Return per unit of downside risk	6.21	1.49	+4.72
Omega ratio Gain probability vs. loss probability	2.09	1.34	+0.76
Calmar ratio Return relative to maximum drawdown	9.64	0.96	+8.68
Martin ratio Return relative to average drawdown	61.29	5.36	+55.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVSB vs. CVSE - Sharpe Ratio Comparison

The current CVSB Sharpe Ratio is 4.09, which is higher than the CVSE Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of CVSB and CVSE, 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

	CVSB	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.09	0.95	+3.13
Sharpe Ratio (All Time) Calculated using the full available price history	4.09	0.95	+3.14

Correlation

The correlation between CVSB and CVSE is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CVSB vs. CVSE - Dividend Comparison

CVSB's dividend yield for the trailing twelve months is around 4.49%, more than CVSE's 0.59% yield.

	TTM	2025	2024	2023
CVSB Calvert Ultra-Short Investment Grade ETF	4.49%	4.72%	5.13%	4.95%
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%

Drawdowns

CVSB vs. CVSE - Drawdown Comparison

The maximum CVSB drawdown since its inception was -0.63%, smaller than the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for CVSB and CVSE.

Drawdown Indicators

	CVSB	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-0.63%	-20.29%	+19.66%
Max Drawdown (1Y) Largest decline over 1 year	-0.47%	-12.80%	+12.33%
Current Drawdown Current decline from peak	-0.01%	-1.68%	+1.67%
Average Drawdown Average peak-to-trough decline	-0.05%	-2.74%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	2.35%	-2.28%

Volatility

CVSB vs. CVSE - Volatility Comparison

Calvert Ultra-Short Investment Grade ETF (CVSB) has a higher volatility of 0.25% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that CVSB's price experiences larger fluctuations and is considered to be riskier than CVSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVSB	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	0.00%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	0.61%	3.26%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	1.13%	16.30%	-15.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.35%	14.25%	-12.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.35%	14.25%	-12.90%