EQTY vs. CVSE

Last updated Jun 4, 2026

EQTY (Kovitz Core Equity ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. EQTY is passively managed, while CVSE is actively managed. Over the past 3 years, EQTY returned 15.88%/yr vs 13.34%/yr for CVSE. Their correlation of 0.80 suggests significant overlap in exposure. EQTY charges 0.99%/yr vs 0.29%/yr for CVSE.

Performance

EQTY vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kovitz Core Equity ETF (EQTY) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQTY

• 1D: -0.36%
• 1M: 1.29%
• YTD: 1.88%
• 6M: 3.56%
• 1Y: 14.80%
• 3Y*: 15.88%
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 8.06%
• 3Y*: 13.34%
• 5Y*: —
• 10Y*: —

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

EQTY vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQTY Kovitz Core Equity ETF	1.88%	13.63%	19.89%	14.15%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	19.11%	13.35%

Correlation

The correlation between EQTY and CVSE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.80

Over the past year, the correlation between EQTY and CVSE has dropped to 0.45 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

EQTY vs. CVSE - Sectors Allocation Comparison

Sectors	EQTY	CVSE
Technology	23.8%	39.5%
Financial Services	19.0%	16.3%
Industrials	16.3%	11.3%
Healthcare	14.3%	10.3%
Communication Services	11.1%	5.1%
Consumer Cyclical	10.0%	7.0%
Consumer Defensive	4.0%	1.7%
Energy	1.5%	-
Basic Materials	-	2.7%
Real Estate	-	3.5%
Utilities	-	2.5%

Return for Risk

EQTY vs. CVSE — Risk / Return Rank

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

EQTY

EQTY Risk / Return Rank: 31
EQTY Sharpe Ratio Rank: 33
EQTY Sortino Ratio Rank: 32
EQTY Omega Ratio Rank: 31
EQTY Calmar Ratio Rank: 27
EQTY Martin Ratio Rank: 32

CVSE

CVSE Risk / Return Rank: 46
CVSE Sharpe Ratio Rank: 36
CVSE Sortino Ratio Rank: 37
CVSE Omega Ratio Rank: 67
CVSE Calmar Ratio Rank: 54
CVSE Martin Ratio Rank: 37

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.

EQTY vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kovitz Core Equity ETF (EQTY) 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.

	EQTY	CVSE	Difference
Sharpe ratio Return per unit of total volatility	1.16	1.28	-0.11
Sortino ratio Return per unit of downside risk	1.71	1.90	-0.19
Omega ratio Gain probability vs. loss probability	1.21	1.40	-0.19
Calmar ratio Return relative to maximum drawdown	1.25	2.66	-1.40
Martin ratio Return relative to average drawdown	4.66	5.71	-1.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQTY vs. CVSE - Sharpe Ratio Comparison

The current EQTY Sharpe Ratio is 1.16, which is comparable to the CVSE Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of EQTY and CVSE, 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

	EQTY	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	1.28	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.92	+0.19

Drawdowns

EQTY vs. CVSE - Drawdown Comparison

The maximum EQTY drawdown since its inception was -17.28%, smaller than the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for EQTY and CVSE.

Drawdown Indicators

	EQTY	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-17.28%	-20.29%	+3.01%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-3.08%	-8.77%
Max Drawdown (3Y) Largest decline over 3 years	-17.28%	-20.29%	+3.01%
Current Drawdown Current decline from peak	-2.26%	-1.68%	-0.58%
Average Drawdown Average peak-to-trough decline	-2.71%	-2.69%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	1.42%	+1.77%

Volatility

EQTY vs. CVSE - Volatility Comparison

Kovitz Core Equity ETF (EQTY) has a higher volatility of 2.58% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that EQTY'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

	EQTY	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	0.00%	+2.58%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	0.00%	+9.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	6.49%	+6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	13.87%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	13.87%	+1.08%

EQTY vs. CVSE - Expense Ratio Comparison

EQTY has a 0.99% expense ratio, which is higher than CVSE's 0.29% expense ratio.

Dividends

EQTY vs. CVSE - Dividend Comparison

EQTY's dividend yield for the trailing twelve months is around 0.02%, less than CVSE's 0.59% yield.

Position	TTM	2025	2024	2023	2022
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%	0.00%
EQTY Kovitz Core Equity ETF	0.02%	0.02%	0.33%	0.26%	0.08%

Frequently Asked Questions

Can I hold both EQTY and CVSE in my portfolio?

EQTY and CVSE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQTY or CVSE?

EQTY has higher volatility (2.58%) compared to CVSE (0.00%). In terms of maximum drawdown, EQTY dropped -17.28% vs CVSE's -20.29%.

Which ETF is better, EQTY or CVSE?

On 3-year performance, EQTY leads with 15.88% vs 13.34% for CVSE. On fees, CVSE is cheaper at 0.29% 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, EQTY or CVSE?

Over the 3-year period, EQTY has performed better with a 15.88% return vs 13.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQTY or CVSE?

CVSE is cheaper with a 0.29% expense ratio, compared with 0.99% for EQTY.

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

CVSE has the higher dividend yield at 0.59%, compared with 0.02% for EQTY.

What is the main difference between EQTY and CVSE?

They also come from different issuers: Kovitz and Calvert. Their fees differ too: 0.99% for EQTY and 0.29% for CVSE.

Which has better risk-adjusted returns?

CVSE currently has the higher Sharpe Ratio (1.28 vs 1.16), 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.