CVSE vs. ITOT

Last updated Jun 5, 2026

CVSE (Calvert US Select Equity ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds. CVSE is actively managed, while ITOT is passively managed. Over the past 3 years, CVSE returned 13.49%/yr vs 22.39%/yr for ITOT. Their correlation of 0.85 suggests significant overlap in exposure. CVSE charges 0.29%/yr vs 0.03%/yr for ITOT.

Performance

CVSE vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Select Equity ETF (CVSE) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 8.08%
• 3Y*: 13.49%
• 5Y*: —
• 10Y*: —

ITOT

• 1D: 0.48%
• 1M: 4.64%
• YTD: 11.78%
• 6M: 11.52%
• 1Y: 28.81%
• 3Y*: 22.39%
• 5Y*: 12.80%
• 10Y*: 15.01%

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

CVSE vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVSE Calvert US Select Equity ETF	0.00%	10.14%	19.11%	13.35%
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.78%	17.00%	23.80%	16.59%

Correlation

The correlation between CVSE and ITOT is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.85

Over the past year, the correlation between CVSE and ITOT has dropped to 0.47 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

CVSE vs. ITOT - Sectors Allocation Comparison

Sectors	CVSE	ITOT
Technology	39.5%	33.8%
Financial Services	16.3%	12.1%
Industrials	11.3%	9.5%
Healthcare	10.3%	9.0%
Consumer Cyclical	7.0%	10.1%
Communication Services	5.1%	10.3%
Real Estate	3.5%	2.4%
Basic Materials	2.7%	2.1%
Utilities	2.5%	2.3%
Consumer Defensive	1.7%	4.7%
Energy	-	3.7%

Return for Risk

CVSE vs. ITOT — Risk / Return Rank

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

CVSE

CVSE Risk / Return Rank: 47
CVSE Sharpe Ratio Rank: 37
CVSE Sortino Ratio Rank: 37
CVSE Omega Ratio Rank: 68
CVSE Calmar Ratio Rank: 55
CVSE Martin Ratio Rank: 37

ITOT

ITOT Risk / Return Rank: 73
ITOT Sharpe Ratio Rank: 74
ITOT Sortino Ratio Rank: 73
ITOT Omega Ratio Rank: 72
ITOT Calmar Ratio Rank: 66
ITOT Martin Ratio Rank: 78

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.

CVSE vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Select Equity ETF (CVSE) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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.

	CVSE	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.37	-1.09
Sortino ratio: Return per unit of downside risk	1.90	3.24	-1.33
Omega ratio: Gain probability vs. loss probability	1.40	1.43	-0.02
Calmar ratio: Return relative to maximum drawdown	2.67	3.25	-0.59
Martin ratio: Return relative to average drawdown	5.72	14.92	-9.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVSE vs. ITOT - Sharpe Ratio Comparison

The current CVSE Sharpe Ratio is 1.28, which is lower than the ITOT Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of CVSE and ITOT, 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

	CVSE	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	2.37	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.57	+0.35

Drawdowns

CVSE vs. ITOT - Drawdown Comparison

The maximum CVSE drawdown since its inception was -20.29%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for CVSE and ITOT.

Drawdown Indicators

	CVSE	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-20.29%	-55.20%	+34.91%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-8.90%	+5.82%
Max Drawdown (3Y) Largest decline over 3 years	-20.29%	-19.44%	-0.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-1.68%	-0.25%	-1.43%
Average Drawdown Average peak-to-trough decline	-2.69%	-6.97%	+4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	1.94%	-0.51%

Volatility

CVSE vs. ITOT - Volatility Comparison

The current volatility for Calvert US Select Equity ETF (CVSE) is 0.00%, while iShares Core S&P Total U.S. Stock Market ETF (ITOT) has a volatility of 2.94%. This indicates that CVSE experiences smaller price fluctuations and is considered to be less risky than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVSE	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	2.94%	-2.94%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	9.14%	-9.14%
Volatility (1Y) Calculated over the trailing 1-year period	6.42%	12.19%	-5.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.86%	17.35%	-3.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.86%	18.26%	-4.40%

CVSE vs. ITOT - Expense Ratio Comparison

CVSE has a 0.29% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

CVSE vs. ITOT - Dividend Comparison

CVSE's dividend yield for the trailing twelve months is around 0.59%, less than ITOT's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.97%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%

Frequently Asked Questions

Can I hold both CVSE and ITOT in my portfolio?

CVSE and ITOT have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVSE or ITOT?

ITOT has higher volatility (2.94%) compared to CVSE (0.00%). In terms of maximum drawdown, CVSE dropped -20.29% vs ITOT's -55.20%.

Which ETF is better, CVSE or ITOT?

On 3-year performance, ITOT leads with 22.39% vs 13.49% for CVSE. On fees, ITOT is cheaper at 0.03% per year. On volatility, CVSE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVSE or ITOT?

Over the 3-year period, ITOT has performed better with a 22.39% return vs 13.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVSE or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.29% for CVSE.

Which ETF pays a higher dividend yield, CVSE or ITOT?

ITOT has the higher dividend yield at 0.97%, compared with 0.59% for CVSE.

What is the main difference between CVSE and ITOT?

They also come from different issuers: Calvert and iShares. Their fees differ too: 0.29% for CVSE and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.37 vs 1.28), 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.