ESGV vs. CVLC

Last updated Aug 2, 2026

ESGV (Vanguard ESG U.S. Stock ETF) and CVLC (Calvert US Large-Cap Core Responsible Index ETF) are both Large Cap Blend Equities funds - ESGV tracks the FTSE US All Cap Choice Index while CVLC tracks the Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, ESGV returned 19.06%/yr vs 19.34%/yr for CVLC. Their 0.98 correlation means they have historically moved very closely together. ESGV charges 0.09%/yr vs 0.15%/yr for CVLC.

Performance

ESGV vs. CVLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard ESG U.S. Stock ETF (ESGV) and Calvert US Large-Cap Core Responsible Index ETF (CVLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESGV achieves a 9.66% return, which is significantly lower than CVLC's 11.99% return.

ESGV

• 1D: 0.68%
• 1M: 0.09%
• 6M: 9.06%
• YTD: 9.66%
• 1Y: 21.29%
• 3Y*: 19.06%
• 5Y*: 11.32%
• 10Y*: —
• ALL TIME*: 14.36%

CVLC

• 1D: 0.62%
• 1M: 0.02%
• 6M: 10.73%
• YTD: 11.99%
• 1Y: 23.51%
• 3Y*: 19.34%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.58%

*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)
CVLC Calvert US Large-Cap Core Responsible Index ETF	$2.45M	$3.31M	$2.99M
ESGV Vanguard ESG U.S. Stock ETF	$15.60M	$18.04M	$25.74M

ESGV vs. CVLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ESGV Vanguard ESG U.S. Stock ETF	9.66%	16.48%	24.69%	21.21%
CVLC Calvert US Large-Cap Core Responsible Index ETF	11.99%	16.13%	24.20%	19.04%

Correlation

The correlation between ESGV and CVLC is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.98

The correlation between ESGV and CVLC has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

ESGV vs. CVLC - Sectors Allocation Comparison

Sectors	ESGV	CVLC
Technology	43.1%	38.1%
Financial Services	11.9%	13.2%
Communication Services	11.2%	7.4%
Consumer Cyclical	11.2%	8.0%
Healthcare	10.1%	10.0%
Industrials	4.2%	10.2%
Consumer Defensive	3.7%	4.7%
Real Estate	2.6%	2.8%
Basic Materials	2.0%	2.6%
Utilities	0.1%	2.3%
Energy	0.0%	0.4%

Return for Risk

ESGV vs. CVLC — Risk / Return Rank

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

ESGV

ESGV Risk / Return Rank: 53
ESGV Sharpe Ratio Rank: 55
ESGV Sortino Ratio Rank: 53
ESGV Omega Ratio Rank: 53
ESGV Calmar Ratio Rank: 46
ESGV Martin Ratio Rank: 56

CVLC

CVLC Risk / Return Rank: 70
CVLC Sharpe Ratio Rank: 71
CVLC Sortino Ratio Rank: 70
CVLC Omega Ratio Rank: 68
CVLC Calmar Ratio Rank: 64
CVLC Martin Ratio Rank: 78

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.

ESGV vs. CVLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG U.S. Stock ETF (ESGV) and Calvert US Large-Cap Core Responsible Index ETF (CVLC). 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.

	ESGV	CVLC	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.61	-0.30
Sortino ratio: Return per unit of downside risk	1.85	2.28	-0.43
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.65	2.26	-0.61
Martin ratio: Return relative to average drawdown	6.66	9.92	-3.26

ESGV vs. CVLC - Sharpe Ratio Comparison

The current ESGV Sharpe Ratio is 1.31, which is comparable to the CVLC Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of ESGV and CVLC, 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

ESGV vs. CVLC - Drawdown Comparison

The maximum ESGV drawdown since its inception was -33.66%, which is greater than CVLC's maximum drawdown of -19.92%. Use the drawdown chart below to compare losses from any high point for ESGV and CVLC.

Drawdown Indicators

	ESGV	CVLC	Difference
Max Drawdown Largest peak-to-trough decline	-33.66%	-19.92%	-13.74%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-9.61%	-1.99%
Max Drawdown (3Y) Largest decline over 3 years	-20.41%	-19.92%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-28.81%	—	—
Current Drawdown Current decline from peak	-1.85%	-1.05%	-0.80%
Average Drawdown Average peak-to-trough decline	-6.34%	-2.37%	-3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	2.18%	+0.69%

Volatility

ESGV vs. CVLC - Volatility Comparison

Vanguard ESG U.S. Stock ETF (ESGV) has a higher volatility of 4.17% compared to Calvert US Large-Cap Core Responsible Index ETF (CVLC) at 3.68%. This indicates that ESGV's price experiences larger fluctuations and is considered to be riskier than CVLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESGV	CVLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.68%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	10.72%	+0.92%
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	13.48%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.52%	15.55%	+2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.52%	15.55%	+4.97%

ESGV vs. CVLC - Expense Ratio Comparison

ESGV has a 0.09% expense ratio, which is lower than CVLC's 0.15% 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

ESGV vs. CVLC - Dividend Comparison

ESGV's dividend yield for the trailing twelve months is around 0.87%, less than CVLC's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CVLC Calvert US Large-Cap Core Responsible Index ETF	0.92%	1.02%	1.03%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%
ESGV Vanguard ESG U.S. Stock ETF	0.87%	0.91%	1.04%	1.16%	1.42%	0.95%	1.11%	1.27%	0.28%

Frequently Asked Questions

Can I hold both ESGV and CVLC in my portfolio?

With a correlation of 0.97, ESGV and CVLC 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, ESGV or CVLC?

ESGV has higher volatility (4.17%) compared to CVLC (3.68%). In terms of maximum drawdown, ESGV dropped -33.66% vs CVLC's -19.92%.

Which ETF is better, ESGV or CVLC?

On 3-year performance, CVLC leads with 19.34% vs 19.06% for ESGV. On fees, ESGV is cheaper at 0.09% per year. On volatility, CVLC has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ESGV or CVLC?

Over the 3-year period, CVLC has performed better with a 19.34% return vs 19.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESGV or CVLC?

ESGV is cheaper with a 0.09% expense ratio, compared with 0.15% for CVLC.

Which ETF pays a higher dividend yield, ESGV or CVLC?

CVLC has the higher dividend yield at 0.92%, compared with 0.87% for ESGV.

What is the main difference between ESGV and CVLC?

ESGV tracks FTSE US All Cap Choice Index, while CVLC tracks Calvert US Large-Cap Core Responsible Index - Benchmark TR Gross. They also come from different issuers: Vanguard and Calvert. Their fees differ too: 0.09% for ESGV and 0.15% for CVLC.

Which has better risk-adjusted returns?

CVLC currently has the higher Sharpe Ratio (1.61 vs 1.31), 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.