SWP vs. CVSE

Last updated Jun 3, 2026

SWP (SWP Growth & Income ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, SWP returned 25.37% vs 9.15% for CVSE. A 0.68 correlation means they provide meaningful diversification when combined. SWP charges 0.99%/yr vs 0.29%/yr for CVSE.

Performance

SWP vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SWP Growth & Income ETF (SWP) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SWP

• 1D: -0.39%
• 1M: 1.69%
• YTD: 7.31%
• 6M: 7.03%
• 1Y: 25.37%
• 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)

SWP vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SWP SWP Growth & Income ETF	7.31%	16.86%	1.23%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	0.24%

Correlation

The correlation between SWP and CVSE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024	0.68

Over the past year, the correlation between SWP and CVSE has dropped to 0.46 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

SWP vs. CVSE — Risk / Return Rank

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

SWP

SWP Risk / Return Rank: 60
SWP Sharpe Ratio Rank: 62
SWP Sortino Ratio Rank: 63
SWP Omega Ratio Rank: 63
SWP Calmar Ratio Rank: 51
SWP Martin Ratio Rank: 62

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.

SWP vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SWP Growth & Income ETF (SWP) 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.

	SWP	CVSE	Difference
Sharpe ratio Return per unit of total volatility	2.14	1.43	+0.71
Sortino ratio Return per unit of downside risk	3.00	2.14	+0.86
Omega ratio Gain probability vs. loss probability	1.39	1.45	-0.06
Calmar ratio Return relative to maximum drawdown	2.55	2.88	-0.33
Martin ratio Return relative to average drawdown	11.40	6.27	+5.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWP vs. CVSE - Sharpe Ratio Comparison

The current SWP Sharpe Ratio is 2.14, which is higher than the CVSE Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SWP 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

	SWP	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.43	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.92	+0.14

Drawdowns

SWP vs. CVSE - Drawdown Comparison

The maximum SWP drawdown since its inception was -16.41%, smaller than the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for SWP and CVSE.

Drawdown Indicators

	SWP	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-16.41%	-20.29%	+3.88%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-3.08%	-6.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.29%	—
Current Drawdown Current decline from peak	-0.39%	-1.68%	+1.29%
Average Drawdown Average peak-to-trough decline	-2.42%	-2.69%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.42%	+0.81%

Volatility

SWP vs. CVSE - Volatility Comparison

SWP Growth & Income ETF (SWP) has a higher volatility of 2.68% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that SWP'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

	SWP	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	0.00%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	0.00%	+9.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	6.49%	+5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	13.88%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.53%	13.88%	+0.65%

SWP vs. CVSE - Expense Ratio Comparison

SWP has a 0.99% expense ratio, which is higher than CVSE's 0.29% expense ratio.

Dividends

SWP vs. CVSE - Dividend Comparison

SWP's dividend yield for the trailing twelve months is around 6.81%, 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%
SWP SWP Growth & Income ETF	6.81%	5.64%	0.44%	0.00%

Frequently Asked Questions

Can I hold both SWP and CVSE in my portfolio?

SWP and CVSE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWP or CVSE?

SWP has higher volatility (2.68%) compared to CVSE (0.00%). In terms of maximum drawdown, SWP dropped -16.41% vs CVSE's -20.29%.

Which ETF is better, SWP or CVSE?

On 1-year performance, SWP leads with 25.37% 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, SWP or CVSE?

Over the 1-year period, SWP has performed better with a 25.37% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SWP or CVSE?

CVSE is cheaper with a 0.29% expense ratio, compared with 0.99% for SWP.

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

SWP has the higher dividend yield at 6.81%, compared with 0.59% for CVSE.

What is the main difference between SWP and CVSE?

They also come from different issuers: SWP Investment Management and Calvert. Their fees differ too: 0.99% for SWP and 0.29% for CVSE.

Which has better risk-adjusted returns?

SWP currently has the higher Sharpe Ratio (2.14 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.