Overview

Historical Returns (%) as of Mar 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc. Max Sales Charge: 5.25%.
 

Fund Facts as of Mar 31, 2024

Class A Inception 06/30/2005
Investment Objective Long-term capital appreciation
Total Net Assets $351.9M
Minimum Investment $1000
Expense Ratio (Gross)3 0.98%
Expense Ratio (Net)3,4 0.95%
Adjusted Expense Ratio (Gross) 0.96%
Adjusted Expense Ratio (Net) 0.93%
CUSIP 131618647
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Calvert Funds, if applicable none of which are paid to Calvert Funds.

Top 10 Holdings (%)5,6 as of Mar 31, 2024

Calvert US Large Cap Core Responsible Index Fund 20.15
Calvert US Large Cap Value Responsible Index Fund 10.32
Calvert US Large Cap Growth Responsible Index Fund 9.48
Calvert International Equity Fund 7.39
Calvert International Responsible Index Fund 7.24
Calvert Equity Fund 6.92
Calvert Emerging Markets Advancement Fund 6.47
Calvert Focused Value Fund 6.46
Calvert International Opportunities Fund 4.71
Calvert Core Bond Fund 3.94
Total 83.07
 

Portfolio Management

Jim Caron Managed Fund since 2024
Schuyler Hooper, CFA Managed Fund since 2021

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The Fund invests in other underlying funds in a fund-of-funds structure. The Fund’s performance is dependent upon the performance of the underlying funds and the Fund is subject to all of the risks of the underlying funds. The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. As interest rates rise, the value of certain income investments is likely to decline. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Russell 3000® Index is an unmanaged index of the 3,000 largest U.S. stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Growth Allocation Blended Benchmark is an internally constructed benchmark which, as of 04/01/2018, is comprised of a blend of 60% Russell® 3000 Index, 30% MSCI All-Country World Ex US Investable Market Index, and 10% Bloomberg U.S. Aggregate Index. Rebalanced Monthly. See the Fund's prospectus for additional information, including past benchmark composition.
3. Source: Fund prospectus.
4. Net Expense Ratio reflects a contractual expense reimbursement that continues through 2/1/25. Without the reimbursement, if applicable, performance would have been lower.
5. Top 10 Holdings excludes cash and equivalents.
6. Percent of total net assets.

Performance

Historical Returns (%) as of Mar 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc. Max Sales Charge: 5.25%.
 

Calendar Year Returns (%)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund at NAV 5.83 -0.19 7.56 20.25 -7.74 27.33 18.54 16.40 -18.30 15.14
Russell 3000® Index1 12.56 0.48 12.74 21.13 -5.24 31.02 20.89 25.66 -19.21 25.96
Growth Allocation Blended Benchmark2 6.79 -0.93 9.29 21.23 -7.53 25.92 16.90 17.50 -17.62 20.71
 

Fund Facts

Class A Inception 06/30/2005
Expense Ratio (Gross)3 0.98%
Expense Ratio (Net)3,4 0.95%
Adjusted Expense Ratio (Gross) 0.96%
Adjusted Expense Ratio (Net) 0.93%
Distribution Frequency Annually
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Calvert Funds, if applicable none of which are paid to Calvert Funds.
 

Morningstar Rating™ as of Mar 31, 2024

Time Period Rating Funds in
Aggressive Allocation
Category
Overall 177
3 Years 177
5 Years 163
10 Years 129
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
 

NAV History

Date NAV NAV Change
Apr 18, 2024 $24.55 -$0.02
Apr 17, 2024 $24.57 -$0.08
Apr 16, 2024 $24.65 -$0.12
Apr 15, 2024 $24.77 -$0.22
Apr 12, 2024 $24.99 -$0.38
Apr 11, 2024 $25.37 $0.09
Apr 10, 2024 $25.28 -$0.31
Apr 09, 2024 $25.59 $0.06
Apr 08, 2024 $25.53 $0.05
Apr 05, 2024 $25.48 $0.17
 

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 28, 2023 $0.37000 $24.30
Dec 29, 2022 $0.29020 $22.11
Dec 30, 2021 $0.49410 $27.69
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 28, 2023 $0.71330 $24.30
Dec 29, 2022 $0.32800 $22.11
Dec 30, 2021 $0.11030 $0.35130 $27.69
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The Fund invests in other underlying funds in a fund-of-funds structure. The Fund’s performance is dependent upon the performance of the underlying funds and the Fund is subject to all of the risks of the underlying funds. The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. As interest rates rise, the value of certain income investments is likely to decline. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Russell 3000® Index is an unmanaged index of the 3,000 largest U.S. stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Growth Allocation Blended Benchmark is an internally constructed benchmark which, as of 04/01/2018, is comprised of a blend of 60% Russell® 3000 Index, 30% MSCI All-Country World Ex US Investable Market Index, and 10% Bloomberg U.S. Aggregate Index. Rebalanced Monthly. See the Fund's prospectus for additional information, including past benchmark composition.
3. Source: Fund prospectus.
4. Net Expense Ratio reflects a contractual expense reimbursement that continues through 2/1/25. Without the reimbursement, if applicable, performance would have been lower.
7. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)6 as of Mar 31, 2024

 

Fund Holdings (%)6,8 as of Feb 29, 2024

Holding % of Net Assets
Calvert US Large Cap Core Responsible Index Fund 20.07%
Calvert US Large Cap Value Responsible Index Fund 10.06%
Calvert US Large Cap Growth Responsible Index Fund 9.52%
Calvert International Equity Fund 7.38%
Calvert International Responsible Index Fund 7.21%
Calvert Equity Fund 7.04%
Calvert Emerging Markets Advancement Fund 6.48%
Calvert Focused Value Fund 6.32%
Calvert International Opportunities Fund 4.74%
Calvert Core Bond Fund 4.01%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The Fund invests in other underlying funds in a fund-of-funds structure. The Fund’s performance is dependent upon the performance of the underlying funds and the Fund is subject to all of the risks of the underlying funds. The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. As interest rates rise, the value of certain income investments is likely to decline. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


6. Percent of total net assets.
8. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Management

Jim Caron

Managing Director, Chief Investment Officer of the Portfolio Solutions Group

Biography

Jim Caron is the Chief Investment Officer of the Portfolio Solutions Group at MSIM.

He has 31 years of industry experience and joined Morgan Stanley in 2006. Previously, he was a portfolio manager and head of global macro strategies on the Fixed Income Team. He also held the position of Global Head of Interest Rates, Foreign Exchange, and Emerging Markets Strategy with Morgan Stanley Research. In earlier years, he was a director at Merrill Lynch where he headed the U.S. Interest Rate Strategy Group. Jim also held various trading positions in rates and option products at JP Morgan.

He earned a B.A. in physics from Bowdoin College, a B.S. in aeronautical engineering from the California Institute of Technology, and an M.B.A. from New York University.

Education
  • B.A. Bowdoin College
  • B.S. California Institute of Technology
  • M.B.A. New York University

Experience
  • Managed Fund since 2024

 
Schuyler Hooper, CFA

Schuyler Hooper, CFA

Executive Director, Portfolio Manager

Biography

Schuyler Hooper is a portfolio manager on the Multi-Sector team. He is responsible for investment research, portfolio optimization, risk modeling and operations. He began his career in the investment management industry with Eaton Vance in 2011. Morgan Stanley acquired Eaton Vance in March 2021.

Schuyler earned a B.A., cum laude, from Union College. He is a CFA charterholder.

Education
  • B.A. Union College

Experience
  • Managed Fund since 2021

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Mar 31, 2024

Commentary

Download Commentary - Last updated: Dec 31, 2023

Annual Report

Download Annual Report - Last updated: Sep 30, 2023

Calvert Responsible Funds Overview

Download Calvert Responsible Funds Overview - Last updated: Dec 31, 2023

Full Prospectus

Download Full Prospectus - Last updated: Feb 1, 2024

Q1 Holdings

Download Q1 Holdings - Last updated: Dec 31, 2023

Q3 Holdings

Download Q3 Holdings - Last updated: Jun 30, 2023

Holdings - Form N-PORT

Download Holdings - Form N-PORT

SAI

Download SAI - Last updated: Feb 1, 2024

Semi-Annual Report

Download Semi-Annual Report - Last updated: Mar 31, 2023

Summary Prospectus

Download Summary Prospectus - Last updated: Feb 1, 2024