EFIV vs. CISIX

Last updated Jun 24, 2026

EFIV (State Street SPDR S&P 500 ESG ETF) and CISIX (Calvert US Large-Cap Core Responsible Index Fund) are both funds - EFIV is a S&P 500 fund tracking the S&P 500 ESG Index, while CISIX is a Large Cap Blend Equities fund managed by Calvert Research and Management. Over the past 5 years, EFIV returned 13.94%/yr vs 12.49%/yr for CISIX. With a 0.98 correlation, they move nearly in lockstep. EFIV charges 0.10%/yr vs 0.24%/yr for CISIX.

Performance

EFIV vs. CISIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ESG ETF (EFIV) and Calvert US Large-Cap Core Responsible Index Fund (CISIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFIV achieves a 8.70% return, which is significantly lower than CISIX's 12.08% return.

EFIV

• 1D: -1.65%
• 1M: -0.29%
• YTD: 8.70%
• 6M: 8.03%
• 1Y: 27.67%
• 3Y*: 20.78%
• 5Y*: 13.94%
• 10Y*: —

CISIX

• 1D: -0.19%
• 1M: 1.67%
• YTD: 12.08%
• 6M: 11.13%
• 1Y: 28.10%
• 3Y*: 21.41%
• 5Y*: 12.49%
• 10Y*: 15.95%

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

EFIV vs. CISIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EFIV State Street SPDR S&P 500 ESG ETF	8.70%	18.47%	23.80%	27.92%	-17.76%	31.70%	16.38%
CISIX Calvert US Large-Cap Core Responsible Index Fund	12.08%	15.90%	24.14%	27.27%	-21.68%	25.63%	19.32%

Correlation

The correlation between EFIV and CISIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jul 28, 2020	0.98

The correlation between EFIV and CISIX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

EFIV vs. CISIX — Risk / Return Rank

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

EFIV

EFIV Risk / Return Rank: 71
EFIV Sharpe Ratio Rank: 74
EFIV Sortino Ratio Rank: 72
EFIV Omega Ratio Rank: 72
EFIV Calmar Ratio Rank: 63
EFIV Martin Ratio Rank: 74

CISIX

CISIX Risk / Return Rank: 68
CISIX Sharpe Ratio Rank: 70
CISIX Sortino Ratio Rank: 64
CISIX Omega Ratio Rank: 62
CISIX Calmar Ratio Rank: 68
CISIX 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.

EFIV vs. CISIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ESG ETF (EFIV) and Calvert US Large-Cap Core Responsible Index Fund (CISIX). 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.

	EFIV	CISIX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.24	-0.01
Sortino ratio: Return per unit of downside risk	3.05	3.06	0.00
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	2.94	3.02	-0.08
Martin ratio: Return relative to average drawdown	13.37	13.63	-0.26

EFIV vs. CISIX - Sharpe Ratio Comparison

The current EFIV Sharpe Ratio is 2.23, which is comparable to the CISIX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of EFIV and CISIX, 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

EFIV vs. CISIX - Drawdown Comparison

The maximum EFIV drawdown since its inception was -24.52%, smaller than the maximum CISIX drawdown of -59.36%. Use the drawdown chart below to compare losses from any high point for EFIV and CISIX.

Drawdown Indicators

	EFIV	CISIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.52%	-59.36%	+34.84%
Max Drawdown (1Y) Largest decline over 1 year	-9.44%	-9.72%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-19.94%	+0.71%
Max Drawdown (5Y) Largest decline over 5 years	-24.52%	-27.37%	+2.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.82%	—
Current Drawdown Current decline from peak	-2.43%	-0.90%	-1.53%
Average Drawdown Average peak-to-trough decline	-4.78%	-14.26%	+9.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.15%	-0.08%

Volatility

EFIV vs. CISIX - Volatility Comparison

State Street SPDR S&P 500 ESG ETF (EFIV) and Calvert US Large-Cap Core Responsible Index Fund (CISIX) have volatilities of 5.15% and 4.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFIV	CISIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	4.93%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	10.50%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	13.16%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	17.88%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	18.62%	-1.75%

EFIV vs. CISIX - Expense Ratio Comparison

EFIV has a 0.10% expense ratio, which is lower than CISIX's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EFIV vs. CISIX - Dividend Comparison

EFIV's dividend yield for the trailing twelve months is around 0.98%, less than CISIX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CISIX Calvert US Large-Cap Core Responsible Index Fund	4.81%	5.39%	1.77%	1.02%	1.17%	1.02%	0.94%	1.14%	4.33%	2.41%	3.77%	7.62%
EFIV State Street SPDR S&P 500 ESG ETF	0.98%	1.03%	1.20%	1.37%	1.64%	1.19%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EFIV and CISIX in my portfolio?

With a correlation of 0.95, EFIV and CISIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EFIV or CISIX?

EFIV has higher volatility (5.15%) compared to CISIX (4.93%). In terms of maximum drawdown, EFIV dropped -24.52% vs CISIX's -59.36%.

Which has better risk-adjusted returns?

CISIX currently has the higher Sharpe Ratio (2.24 vs 2.23), 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.