FTCIX vs. CCLAX

Last updated Jun 23, 2026

FTCIX (Franklin Conservative Allocation Fund) and CCLAX (Calvert Conservative Allocation Fund) are both Diversified Portfolio funds. Over the past 10 years, FTCIX returned 7.05%/yr vs 5.71%/yr for CCLAX. Their correlation of 0.90 suggests significant overlap in exposure. FTCIX charges 0.63%/yr vs 0.41%/yr for CCLAX.

Performance

FTCIX vs. CCLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Conservative Allocation Fund (FTCIX) and Calvert Conservative Allocation Fund (CCLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTCIX achieves a 5.23% return, which is significantly higher than CCLAX's 4.47% return. Over the past 10 years, FTCIX has outperformed CCLAX with an annualized return of 7.05%, while CCLAX has yielded a comparatively lower 5.71% annualized return.

FTCIX

• 1D: 0.65%
• 1M: 1.18%
• YTD: 5.23%
• 6M: 5.22%
• 1Y: 13.92%
• 3Y*: 10.27%
• 5Y*: 4.70%
• 10Y*: 7.05%

CCLAX

• 1D: 0.67%
• 1M: 1.55%
• YTD: 4.47%
• 6M: 4.52%
• 1Y: 11.69%
• 3Y*: 8.56%
• 5Y*: 3.77%
• 10Y*: 5.71%

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

FTCIX vs. CCLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTCIX Franklin Conservative Allocation Fund	5.23%	12.17%	8.05%	11.38%	-15.20%	8.18%	22.41%	13.24%	-3.44%	9.81%
CCLAX Calvert Conservative Allocation Fund	4.47%	10.23%	6.39%	10.07%	-14.32%	7.73%	12.18%	15.62%	-2.96%	8.28%

Correlation

The correlation between FTCIX and CCLAX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 29, 2005	0.90

The correlation between FTCIX and CCLAX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

FTCIX vs. CCLAX — Risk / Return Rank

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

FTCIX

FTCIX Risk / Return Rank: 61
FTCIX Sharpe Ratio Rank: 61
FTCIX Sortino Ratio Rank: 64
FTCIX Omega Ratio Rank: 65
FTCIX Calmar Ratio Rank: 53
FTCIX Martin Ratio Rank: 64

CCLAX

CCLAX Risk / Return Rank: 51
CCLAX Sharpe Ratio Rank: 51
CCLAX Sortino Ratio Rank: 54
CCLAX Omega Ratio Rank: 54
CCLAX Calmar Ratio Rank: 42
CCLAX Martin Ratio Rank: 54

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.

FTCIX vs. CCLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Conservative Allocation Fund (FTCIX) and Calvert Conservative Allocation Fund (CCLAX). 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.

	FTCIX	CCLAX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.94	+0.18
Sortino ratio: Return per unit of downside risk	3.05	2.83	+0.22
Omega ratio: Gain probability vs. loss probability	1.41	1.37	+0.04
Calmar ratio: Return relative to maximum drawdown	2.66	2.34	+0.32
Martin ratio: Return relative to average drawdown	11.74	10.32	+1.42

FTCIX vs. CCLAX - Sharpe Ratio Comparison

The current FTCIX Sharpe Ratio is 2.12, which is comparable to the CCLAX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FTCIX and CCLAX, 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

FTCIX vs. CCLAX - Drawdown Comparison

The maximum FTCIX drawdown since its inception was -25.18%, which is greater than CCLAX's maximum drawdown of -23.98%. Use the drawdown chart below to compare losses from any high point for FTCIX and CCLAX.

Drawdown Indicators

	FTCIX	CCLAX	Difference
Max Drawdown Largest peak-to-trough decline	-25.18%	-23.98%	-1.20%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-5.02%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-7.64%	-7.90%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-25.18%	-18.86%	-6.32%
Max Drawdown (10Y) Largest decline over 10 years	-25.18%	-18.86%	-6.32%
Current Drawdown Current decline from peak	-0.06%	-0.05%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.31%	-2.85%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	1.14%	+0.04%

Volatility

FTCIX vs. CCLAX - Volatility Comparison

Franklin Conservative Allocation Fund (FTCIX) has a higher volatility of 2.68% compared to Calvert Conservative Allocation Fund (CCLAX) at 2.50%. This indicates that FTCIX's price experiences larger fluctuations and is considered to be riskier than CCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTCIX	CCLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.50%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	5.52%	5.14%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	6.55%	6.06%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.21%	7.19%	+2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.09%	6.78%	+2.31%

FTCIX vs. CCLAX - Expense Ratio Comparison

FTCIX has a 0.63% expense ratio, which is higher than CCLAX's 0.41% expense ratio.

Dividends

FTCIX vs. CCLAX - Dividend Comparison

FTCIX's dividend yield for the trailing twelve months is around 4.92%, more than CCLAX's 3.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCLAX Calvert Conservative Allocation Fund	3.14%	3.31%	3.37%	3.24%	2.22%	5.37%	4.16%	4.14%	4.83%	2.22%	3.52%	5.82%
FTCIX Franklin Conservative Allocation Fund	4.92%	5.99%	2.52%	2.40%	3.73%	8.58%	13.27%	7.14%	7.71%	1.51%	1.76%	4.93%

Frequently Asked Questions

Can I hold both FTCIX and CCLAX in my portfolio?

With a correlation of 0.96, FTCIX and CCLAX 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, FTCIX or CCLAX?

FTCIX has higher volatility (2.68%) compared to CCLAX (2.50%). In terms of maximum drawdown, FTCIX dropped -25.18% vs CCLAX's -23.98%.

Which has better risk-adjusted returns?

FTCIX currently has the higher Sharpe Ratio (2.12 vs 1.94), 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.