EVSD vs. CVSB

Last updated Jun 4, 2026

EVSD (Eaton Vance Short Duration Income ETF) and CVSB (Calvert Ultra-Short Investment Grade ETF) are both exchange-traded funds - EVSD is a Short-Term Bond fund actively managed by Eaton Vance, while CVSB is a Ultrashort Bond fund actively managed by Calvert. Both are actively managed. Over the past year, EVSD returned 4.84% vs 4.48% for CVSB. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.24% expense ratio.

Performance

EVSD vs. CVSB - Performance Comparison

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

Returns By Period

In the year-to-date period, EVSD achieves a 0.77% return, which is significantly lower than CVSB's 1.48% return.

EVSD

• 1D: -0.08%
• 1M: 0.32%
• YTD: 0.77%
• 6M: 1.16%
• 1Y: 4.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVSB

• 1D: -0.01%
• 1M: 0.28%
• YTD: 1.48%
• 6M: 2.03%
• 1Y: 4.48%
• 3Y*: 5.54%
• 5Y*: —
• 10Y*: —

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

EVSD vs. CVSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVSD Eaton Vance Short Duration Income ETF	0.77%	6.80%	3.87%
CVSB Calvert Ultra-Short Investment Grade ETF	1.48%	4.92%	3.33%

Correlation

The correlation between EVSD and CVSB is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jun 18, 2024	0.23

The correlation between EVSD and CVSB shifts across timeframes, from 0.23 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EVSD vs. CVSB — Risk / Return Rank

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

EVSD

EVSD Risk / Return Rank: 87
EVSD Sharpe Ratio Rank: 90
EVSD Sortino Ratio Rank: 94
EVSD Omega Ratio Rank: 93
EVSD Calmar Ratio Rank: 76
EVSD Martin Ratio Rank: 81

CVSB

CVSB Risk / Return Rank: 98
CVSB Sharpe Ratio Rank: 98
CVSB Sortino Ratio Rank: 98
CVSB Omega Ratio Rank: 98
CVSB Calmar Ratio Rank: 99
CVSB Martin Ratio Rank: 98

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.

EVSD vs. CVSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Income ETF (EVSD) and Calvert Ultra-Short Investment Grade ETF (CVSB). 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.

	EVSD	CVSB	Difference
Sharpe ratio: Return per unit of total volatility	3.16	5.12	-1.95
Sortino ratio: Return per unit of downside risk	5.08	8.83	-3.75
Omega ratio: Gain probability vs. loss probability	1.67	2.38	-0.71
Calmar ratio: Return relative to maximum drawdown	3.86	19.85	-15.99
Martin ratio: Return relative to average drawdown	16.16	80.53	-64.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVSD vs. CVSB - Sharpe Ratio Comparison

The current EVSD Sharpe Ratio is 3.16, which is lower than the CVSB Sharpe Ratio of 5.12. The chart below compares the historical Sharpe Ratios of EVSD and CVSB, 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

	EVSD	CVSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	5.12	-1.95
Sharpe Ratio (All Time) Calculated using the full available price history	3.03	4.13	-1.10

Drawdowns

EVSD vs. CVSB - Drawdown Comparison

The maximum EVSD drawdown since its inception was -1.26%, which is greater than CVSB's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for EVSD and CVSB.

Drawdown Indicators

	EVSD	CVSB	Difference
Max Drawdown Largest peak-to-trough decline	-1.26%	-0.63%	-0.63%
Max Drawdown (1Y) Largest decline over 1 year	-1.26%	-0.23%	-1.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.63%	—
Current Drawdown Current decline from peak	-0.17%	-0.03%	-0.14%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.05%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	0.06%	+0.24%

Volatility

EVSD vs. CVSB - Volatility Comparison

Eaton Vance Short Duration Income ETF (EVSD) has a higher volatility of 0.47% compared to Calvert Ultra-Short Investment Grade ETF (CVSB) at 0.15%. This indicates that EVSD's price experiences larger fluctuations and is considered to be riskier than CVSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVSD	CVSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	0.15%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	1.14%	0.53%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	0.88%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.94%	1.32%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.94%	1.32%	+0.62%

EVSD vs. CVSB - Expense Ratio Comparison

Both EVSD and CVSB have an expense ratio of 0.24%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EVSD vs. CVSB - Dividend Comparison

EVSD's dividend yield for the trailing twelve months is around 4.62%, more than CVSB's 4.37% yield.

Position	TTM	2025	2024	2023
CVSB Calvert Ultra-Short Investment Grade ETF	4.37%	4.72%	5.13%	4.95%
EVSD Eaton Vance Short Duration Income ETF	4.62%	4.64%	2.91%	0.00%

Frequently Asked Questions

Can I hold both EVSD and CVSB in my portfolio?

EVSD and CVSB have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVSD or CVSB?

EVSD has higher volatility (0.47%) compared to CVSB (0.15%). In terms of maximum drawdown, EVSD dropped -1.26% vs CVSB's -0.63%.

Which ETF is better, EVSD or CVSB?

On 1-year performance, EVSD leads with 4.84% vs 4.48% for CVSB. Both ETFs have the same 0.24% expense ratio. On volatility, CVSB has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVSD or CVSB?

Over the 1-year period, EVSD has performed better with a 4.84% return vs 4.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVSD or CVSB?

EVSD and CVSB have the same expense ratio: 0.24% per year.

Which ETF pays a higher dividend yield, EVSD or CVSB?

EVSD has the higher dividend yield at 4.62%, compared with 4.37% for CVSB.

What is the main difference between EVSD and CVSB?

EVSD is categorized as Short-Term Bond, while CVSB is Ultrashort Bond. They also come from different issuers: Eaton Vance and Calvert.

Which has better risk-adjusted returns?

CVSB currently has the higher Sharpe Ratio (5.12 vs 3.16), 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.