QLTY vs. CVSE

Last updated Jun 3, 2026

QLTY (GMO U.S. Quality ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. QLTY is passively managed, while CVSE is actively managed. Over the past year, QLTY returned 28.67% vs 9.15% for CVSE. A 0.74 correlation means they provide meaningful diversification when combined. QLTY charges 0.50%/yr vs 0.29%/yr for CVSE.

Performance

QLTY vs. CVSE - Performance Comparison

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

Returns By Period

QLTY

• 1D: -0.17%
• 1M: 3.91%
• YTD: 7.91%
• 6M: 8.88%
• 1Y: 28.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 9.15%
• 3Y*: 13.34%
• 5Y*: —
• 10Y*: —

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

QLTY vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QLTY GMO U.S. Quality ETF	7.91%	21.26%	21.02%	5.68%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	19.11%	7.29%

Correlation

The correlation between QLTY and CVSE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Nov 16, 2023	0.74

Over the past year, the correlation between QLTY and CVSE has dropped to 0.40 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

QLTY vs. CVSE - Sectors Allocation Comparison

Sectors	QLTY	CVSE
Technology	36.5%	39.5%
Healthcare	24.5%	10.3%
Communication Services	10.9%	5.1%
Consumer Defensive	9.1%	1.7%
Consumer Cyclical	8.1%	7.0%
Financial Services	7.4%	16.3%
Industrials	3.6%	11.3%
Basic Materials	-	2.7%
Energy	-	-
Real Estate	-	3.5%
Utilities	-	2.5%

Return for Risk

QLTY vs. CVSE — Risk / Return Rank

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

QLTY

QLTY Risk / Return Rank: 64
QLTY Sharpe Ratio Rank: 71
QLTY Sortino Ratio Rank: 72
QLTY Omega Ratio Rank: 69
QLTY Calmar Ratio Rank: 49
QLTY Martin Ratio Rank: 57

CVSE

CVSE Risk / Return Rank: 50
CVSE Sharpe Ratio Rank: 40
CVSE Sortino Ratio Rank: 42
CVSE Omega Ratio Rank: 74
CVSE Calmar Ratio Rank: 57
CVSE Martin Ratio Rank: 40

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.

QLTY vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO U.S. Quality ETF (QLTY) 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.

	QLTY	CVSE	Difference
Sharpe ratio Return per unit of total volatility	2.35	1.43	+0.92
Sortino ratio Return per unit of downside risk	3.33	2.14	+1.19
Omega ratio Gain probability vs. loss probability	1.42	1.45	-0.03
Calmar ratio Return relative to maximum drawdown	2.48	2.88	-0.41
Martin ratio Return relative to average drawdown	10.13	6.27	+3.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLTY vs. CVSE - Sharpe Ratio Comparison

The current QLTY Sharpe Ratio is 2.35, which is higher than the CVSE Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of QLTY 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

	QLTY	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	1.43	+0.92
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	0.92	+0.63

Drawdowns

QLTY vs. CVSE - Drawdown Comparison

The maximum QLTY drawdown since its inception was -17.00%, smaller than the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for QLTY and CVSE.

Drawdown Indicators

	QLTY	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-17.00%	-20.29%	+3.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-3.08%	-8.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.29%	—
Current Drawdown Current decline from peak	-0.22%	-1.68%	+1.46%
Average Drawdown Average peak-to-trough decline	-2.05%	-2.69%	+0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	1.42%	+1.44%

Volatility

QLTY vs. CVSE - Volatility Comparison

GMO U.S. Quality ETF (QLTY) has a higher volatility of 2.65% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that QLTY'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

	QLTY	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	0.00%	+2.65%
Volatility (6M) Calculated over the trailing 6-month period	9.24%	0.00%	+9.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	6.49%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.65%	13.88%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.65%	13.88%	+0.77%

QLTY vs. CVSE - Expense Ratio Comparison

QLTY has a 0.50% expense ratio, which is higher than CVSE's 0.29% expense ratio.

Dividends

QLTY vs. CVSE - Dividend Comparison

QLTY's dividend yield for the trailing twelve months is around 0.71%, more 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%
QLTY GMO U.S. Quality ETF	0.71%	0.73%	0.79%	0.15%

Frequently Asked Questions

Can I hold both QLTY and CVSE in my portfolio?

QLTY and CVSE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLTY or CVSE?

QLTY has higher volatility (2.65%) compared to CVSE (0.00%). In terms of maximum drawdown, QLTY dropped -17.00% vs CVSE's -20.29%.

Which ETF is better, QLTY or CVSE?

On 1-year performance, QLTY leads with 28.67% vs 9.15% 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, QLTY or CVSE?

Over the 1-year period, QLTY has performed better with a 28.67% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLTY or CVSE?

CVSE is cheaper with a 0.29% expense ratio, compared with 0.50% for QLTY.

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

QLTY has the higher dividend yield at 0.71%, compared with 0.59% for CVSE.

What is the main difference between QLTY and CVSE?

They also come from different issuers: GMO and Calvert. Their fees differ too: 0.50% for QLTY and 0.29% for CVSE.

Which has better risk-adjusted returns?

QLTY currently has the higher Sharpe Ratio (2.35 vs 1.43), 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.