MNZL vs. CVSE

Last updated Jun 5, 2026

MNZL (Manzil Russell Halal USA Broad Market ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. MNZL is passively managed, while CVSE is actively managed. MNZL charges 0.40%/yr vs 0.29%/yr for CVSE.

Performance

MNZL vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manzil Russell Halal USA Broad Market ETF (MNZL) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MNZL

• 1D: -1.04%
• 1M: 8.16%
• YTD: 18.20%
• 6M: 16.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 8.08%
• 3Y*: 13.49%
• 5Y*: —
• 10Y*: —

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

MNZL vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025
MNZL Manzil Russell Halal USA Broad Market ETF	18.20%	2.90%
CVSE Calvert US Select Equity ETF	0.00%	0.00%

Return for Risk

MNZL vs. CVSE — Risk / Return Rank

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

CVSE

CVSE Risk / Return Rank: 47
CVSE Sharpe Ratio Rank: 37
CVSE Sortino Ratio Rank: 37
CVSE Omega Ratio Rank: 68
CVSE Calmar Ratio Rank: 55
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.

MNZL vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manzil Russell Halal USA Broad Market ETF (MNZL) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MNZL	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.84	0.92	+1.92

Drawdowns

MNZL vs. CVSE - Drawdown Comparison

The maximum MNZL drawdown since its inception was -9.66%, smaller than the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for MNZL and CVSE.

Drawdown Indicators

	MNZL	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-9.66%	-20.29%	+10.63%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.08%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.29%	—
Current Drawdown Current decline from peak	-1.04%	-1.68%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.74%	-2.69%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.43%	—

Volatility

Volatility by Period

	MNZL	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	6.42%	+9.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.73%	13.86%	+1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	13.86%	+1.87%

MNZL vs. CVSE - Expense Ratio Comparison

MNZL has a 0.40% expense ratio, which is higher than CVSE's 0.29% expense ratio.

Dividends

MNZL vs. CVSE - Dividend Comparison

MNZL's dividend yield for the trailing twelve months is around 0.03%, less than CVSE's 0.59% yield.

Position	TTM	2025	2024	2023
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%
MNZL Manzil Russell Halal USA Broad Market ETF	0.03%	0.04%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, MNZL or CVSE?

On fees, CVSE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNZL or CVSE?

CVSE is cheaper with a 0.29% expense ratio, compared with 0.40% for MNZL.

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

CVSE has the higher dividend yield at 0.59%, compared with 0.03% for MNZL.

What is the main difference between MNZL and CVSE?

They also come from different issuers: Manzil and Calvert. Their fees differ too: 0.40% for MNZL and 0.29% for CVSE.