RND vs. CVSE

Last updated Jun 4, 2026

RND (First Trust Bloomberg R&D Leaders ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. RND is passively managed, while CVSE is actively managed. Over the past year, RND returned 26.80% vs 8.06% for CVSE. A 0.67 correlation means they provide meaningful diversification when combined. RND charges 0.60%/yr vs 0.29%/yr for CVSE.

Performance

RND vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg R&D Leaders ETF (RND) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RND

• 1D: -0.70%
• 1M: 5.38%
• YTD: 6.61%
• 6M: 5.59%
• 1Y: 26.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 8.06%
• 3Y*: 13.34%
• 5Y*: —
• 10Y*: —

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

RND vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RND First Trust Bloomberg R&D Leaders ETF	6.61%	22.38%	26.88%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	13.95%

Correlation

The correlation between RND and CVSE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.67

Over the past year, the correlation between RND and CVSE has dropped to 0.39 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

RND vs. CVSE - Sectors Allocation Comparison

Sectors	RND	CVSE
Technology	44.1%	39.5%
Consumer Cyclical	16.0%	7.0%
Communication Services	14.2%	5.1%
Healthcare	14.0%	10.3%
Industrials	8.5%	11.3%
Consumer Defensive	1.2%	1.7%
Financial Services	1.1%	16.3%
Basic Materials	0.9%	2.7%
Energy	-	-
Real Estate	-	3.5%
Utilities	-	2.5%

Return for Risk

RND vs. CVSE — Risk / Return Rank

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

RND

RND Risk / Return Rank: 45
RND Sharpe Ratio Rank: 51
RND Sortino Ratio Rank: 49
RND Omega Ratio Rank: 48
RND Calmar Ratio Rank: 35
RND Martin Ratio Rank: 40

CVSE

CVSE Risk / Return Rank: 46
CVSE Sharpe Ratio Rank: 36
CVSE Sortino Ratio Rank: 37
CVSE Omega Ratio Rank: 67
CVSE Calmar Ratio Rank: 54
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.

RND vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg R&D Leaders ETF (RND) 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.

	RND	CVSE	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.28	+0.44
Sortino ratio: Return per unit of downside risk	2.35	1.90	+0.45
Omega ratio: Gain probability vs. loss probability	1.30	1.40	-0.10
Calmar ratio: Return relative to maximum drawdown	1.73	2.66	-0.93
Martin ratio: Return relative to average drawdown	6.26	5.71	+0.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RND vs. CVSE - Sharpe Ratio Comparison

The current RND Sharpe Ratio is 1.72, which is higher than the CVSE Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of RND 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

	RND	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.28	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.92	+0.38

Drawdowns

RND vs. CVSE - Drawdown Comparison

The maximum RND drawdown since its inception was -23.52%, which is greater than CVSE's maximum drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for RND and CVSE.

Drawdown Indicators

	RND	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-20.29%	-3.23%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-3.08%	-12.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.29%	—
Current Drawdown Current decline from peak	-0.70%	-1.68%	+0.98%
Average Drawdown Average peak-to-trough decline	-3.72%	-2.69%	-1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	1.42%	+2.87%

Volatility

RND vs. CVSE - Volatility Comparison

First Trust Bloomberg R&D Leaders ETF (RND) has a higher volatility of 3.75% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that RND'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

	RND	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	0.00%	+3.75%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	0.00%	+11.78%
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	6.49%	+9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.15%	13.87%	+7.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	13.87%	+7.28%

RND vs. CVSE - Expense Ratio Comparison

RND has a 0.60% expense ratio, which is higher than CVSE's 0.29% expense ratio.

Dividends

RND vs. CVSE - Dividend Comparison

RND has not paid dividends to shareholders, while CVSE's dividend yield for the trailing twelve months is around 0.59%.

Position	TTM	2025	2024	2023
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%
RND First Trust Bloomberg R&D Leaders ETF	0.00%	0.00%	0.04%	0.00%

Frequently Asked Questions

Can I hold both RND and CVSE in my portfolio?

RND and CVSE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RND or CVSE?

RND has higher volatility (3.75%) compared to CVSE (0.00%). In terms of maximum drawdown, RND dropped -23.52% vs CVSE's -20.29%.

Which ETF is better, RND or CVSE?

On 1-year performance, RND leads with 26.80% vs 8.06% 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, RND or CVSE?

Over the 1-year period, RND has performed better with a 26.80% return vs 8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RND or CVSE?

CVSE is cheaper with a 0.29% expense ratio, compared with 0.60% for RND.

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

CVSE has the higher dividend yield at 0.59%, compared with 0.00% for RND.

What is the main difference between RND and CVSE?

They also come from different issuers: First Trust and Calvert. Their fees differ too: 0.60% for RND and 0.29% for CVSE.

Which has better risk-adjusted returns?

RND currently has the higher Sharpe Ratio (1.72 vs 1.28), 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.