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Calvert Balanced Portfolio (CBAIX)

Daily Performance (as of 8/1/2014)
Price $33.35
Price Change $-0.01 (-0.03%)
YTD Return 5.06%
Fund Facts (as of 7/31/2014)
NASDAQ Symbol CBAIX (I Shares)
Calvert Fund Number 796 (I Shares)
CUSIP Number 131618829 (I Shares)
Assets Under Management $642.59 Million
Yields (as of 6/30/2014)
30-Day SEC Yield Subsidized 1.60%
30-Day SEC Yield Unsubsidized 1.60%
12 Mth Distribution Yield
(No Charge)
1.23%

Overview

Fund Management

Calvert Investment Management, Inc.

Natalie Trunow,
Chief Investment Officer, Equities

Matthew Duch,
Vice President and Lead Portfolio Manager

Vishal Khanduja, CFA
Vice President and Co-Portfolio Manager

Joshua Linder,
Assistant Portfolio Manager

Profit Investment Management

Eugene Profit,
Founder, CEO, and Chief Investment Officer

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

(percentages are of entire portfolio)
Issues in Portfolio: 438
Click here for all Fund Holdings

Investment Objective

The Fund seeks to achieve a competitive total return through an actively managed portfolio of stocks, bonds, and money market instruments, which offer income and capital growth opportunity and which satisfy the investment criteria, including financial, sustainability and social responsibility factors.

Investment Strategy

The Fund invests in a combination of stocks, bonds, and money market instruments seeking to provide a complete investment portfolio in a single product. The Fund typically invests about 60% of its net assets in stocks and 40% in bonds or other fixed-income investments. The equity portion of the Fund is primarily a large cap core U.S. domestic portfolio, although the Fund may also invest in foreign stocks and mid-cap stocks. The fixed-income investments are primarily a wide variety of investment-grade debt securities, including corporate, mortgage-backed, and other asset-backed securities. The Fund uses a multi-manager approach that combines complementary equity investment styles with Calvert's in-house, relative-value fixed-income approach. The Advisor monitors the Fund's allocation and may rebalance or reallocate the Fund's assets based on its view of economic and market factors and events. The Fund seeks to invest in companies and other enterprises that demonstrate positive environmental, social and governance performance as they address corporate responsibility and sustainability challenges.

Investment Risk

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of stocks or bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. There is a risk that the Advisor may allocate assets to an asset class that that underperforms other asset classes.


Important Disclosure

Holdings are subject to change.

Industry classifications provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.

The 30-Day SEC Yield is a standardized measure of the current market yield on the Fund’s portfolio and is calculated by dividing the net investment income per share earned during the 30-day period by the maximum offering price per share on the last day of the period. For funds that have a contractual fee waiver and/or expense reimbursement in effect, the fund also displays the higher subsidized yield, which accounts for the effect of the waiver and/or reimbursement . The 12-month Distribution Yield takes all the interest payments made by the fund over the last 12 months, and divides it by the sum of (i) the Fund’s NAV on the last day of the period, and (ii) any capital gains distributions that were made during that period. The 30-Day SEC Yield reflects the rate at which the Fund is earning income on its current portfolio of securities, while the 12-month Distribution yield reflects the Fund's past dividends paid to shareholders.


Performance

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Benchmark Index

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Lipper Category Index

Checking this box will compare fund performance to that of its Lipper Category Index.

Average Annual Total Returns (%) for period ending 7/31/2014
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
I Shares (No Charge) 5.09 -0.86 12.04 11.21 11.83 6.19 4.29 2/26/1999
Average Annual Total Returns (%) for period ending 6/30/2014
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
I Shares (No Charge) 6.01 4.06 17.31 11.38 13.29 6.07 4.37 2/26/1999
Portfolio Expenses and Turnover (from Prospectus)
(Performance data quoted above already reflects deduction for portfolio operating expenses)
Expense Ratio
(if no waiver reimbursement in effect)
Net Expense Ratio
(if waiver reimbursement in effect)
Gross Expense Ratio
(if waiver reimbursement in effect)
Fund Turnover
0.70% n/a n/a 114.0%

Hypothetical Growth of $10,000

Yearly Percentage Return

Modern Portfolio Theory Statistics* as of 6/30/2014

  Fund (IShares) Russell 1000 Index
  3 yrs 5 yrs 3 yrs 5 yrs
Alpha 1.94% 2.21% 0.00% 0.00%
Beta 0.56 0.57 1.00 1.00
R-Squared 94.11% 95.36% 100.00% 100.00%
Sharpe Ratio 1.55 1.65 1.32 1.40
Standard Deviation 7.30% 8.00% 12.57% 13.66%
Excess Return -5.25% -5.97% 0.00% 0.00%
Information Ratio -0.91 -0.98 0.00 0.00
Tracking Error 5.76% 6.10% 0.00% 0.00%
*Source: Zephyr StyleADVISOR using MorningstarTM data


Standard Deviation is a measure of a fund's risk. A standard deviation of 1 means a fund can be expected to produce an annual return that is +/-1% of its average annual return 66% of the time.
Alpha is a measure of the difference between a fund's actual returns and its expected performance, given its level of risk as measured by beta.
Beta is a measure of portfolio risk relative to the market or benchmark. A portfolio beta of 1.0 indicates a risk level equal to that of the fund's benchmark.
Excess Return is return in excess of the risk-free rate or in excess of a benchmark.
R Squared is a statistical measure that represents the percentage of a fund's movements that can be explained by movements in its benchmark index.
Tracking Error is the difference in the return earned by a portfolio and the return earned by the benchmark against which the portfolio is constructed.
Information Ratio is a measure of the consistency of excess return of a mutual fund as compared to its benchmark.
Sharpe Ratio is used to measure risk-adjusted performance. It is calculated by using standard deviation and return in excess of the benchmark to determine reward per unit of risk.


Important Disclosure

From June 30, 2003 to December 27, 2004, there were no Class I shareholders in Calvert Balanced Portfolio. Performance results for the Fund during this period reflect the performance of Class A shares at NAV (i.e., without deduction of any front-end sales charge). Actual Class I share performance would have been higher than Class A share performance because Class has lower class-specific expenses than Class A.

The Fund also shows the Balanced Composite Benchmark (60% Russell 1000 Index; 40% Barclays U.S. Credit Index) because it is more consistent with the Fund's portfolio construction process and represents a more accurate reflection of the Fund's anticipated risk and return patterns.


Pricing & Distribution

Most Recent Distributions

I Shares: Without Sales Charge
Date Type Rate Record Date Ex Date Reinvest Date Reinvest Price
6/27/2014 Dividend 0.13652 6/25/2014 6/26/2014 6/26/2014 33.58
3/28/2014 Dividend 0.11859 3/26/2014 3/27/2014 3/27/2014 32.24
12/27/2013 Dividend 0.10767 12/24/2013 12/26/2013 12/26/2013 31.88
12/6/2013 Long Term Gain 3.00388 12/4/2013 12/5/2013 12/5/2013 31.46
12/6/2013 Short Term Gain 1.09594 12/4/2013 12/5/2013 12/5/2013 31.46
9/27/2013 Dividend 0.09983 9/25/2013 9/26/2013 9/26/2013 34.67
6/28/2013 Dividend 0.09320 6/26/2013 6/27/2013 6/27/2013 32.87
3/28/2013 Dividend 0.08721 3/26/2013 3/27/2013 3/27/2013 32.61
12/28/2012 Dividend 0.11860 12/26/2012 12/27/2012 12/27/2012 30.94
9/28/2012 Dividend 0.06714 9/26/2012 9/27/2012 9/27/2012 31.27
6/29/2012 Dividend 0.08934 6/27/2012 6/28/2012 6/28/2012 29.58
3/30/2012 Dividend 0.08710 3/28/2012 3/29/2012 3/29/2012 30.73
12/23/2011 Dividend 0.11214 12/21/2011 12/22/2011 12/22/2011 28.11
9/30/2011 Dividend 0.09721 9/28/2011 9/29/2011 9/29/2011 26.96
6/30/2011 Dividend 0.10140 6/28/2011 6/29/2011 6/29/2011 28.45
3/31/2011 Dividend 0.10108 3/29/2011 3/30/2011 3/30/2011 28.51
12/23/2010 Dividend 0.08965 12/21/2010 12/22/2010 12/22/2010 27.61
9/30/2010 Dividend 0.09881 9/28/2010 9/29/2010 9/29/2010 26.29
6/25/2010 Dividend 0.09676 6/23/2010 6/24/2010 6/24/2010 24.96
3/26/2010 Dividend 0.07760 3/24/2010 3/25/2010 3/25/2010 25.96
12/24/2009 Dividend 0.10259 12/22/2009 12/23/2009 12/23/2009 25.18
9/25/2009 Dividend 0.11119 9/23/2009 9/24/2009 9/24/2009 24.07
6/26/2009 Dividend 0.10693 6/24/2009 6/25/2009 6/25/2009 21.87
3/27/2009 Dividend 0.13099 3/25/2009 3/26/2009 3/26/2009 20.15
12/24/2008 Dividend 0.15046 12/22/2008 12/23/2008 12/23/2008 19.98
12/4/2008 Long Term Gain 0.00011 12/2/2008 12/3/2008 12/3/2008 20.22
9/26/2008 Dividend 0.15124 9/24/2008 9/25/2008 9/25/2008 25.87
6/27/2008 Dividend 0.17168 6/25/2008 6/26/2008 6/26/2008 27.49
3/28/2008 Dividend 0.16004 3/26/2008 3/27/2008 3/27/2008 27.74
12/28/2007 Dividend 0.20662 12/26/2007 12/27/2007 12/27/2007 29.51
12/7/2007 Long Term Gain 1.63068 12/5/2007 12/6/2007 12/6/2007 30.07
9/28/2007 Dividend 0.18891 9/26/2007 9/27/2007 9/27/2007 31.69
6/29/2007 Dividend 0.16183 6/27/2007 6/28/2007 6/28/2007 31.47
3/30/2007 Dividend 0.18334 3/28/2007 3/29/2007 3/29/2007 30.75
12/28/2006 Dividend 0.18342 12/26/2006 12/27/2006 12/27/2006 30.88
9/28/2006 Dividend 0.15936 9/26/2006 9/27/2006 9/27/2006 29.75
6/29/2006 Dividend 0.03773 6/27/2006 6/28/2006 6/28/2006 28.30
3/30/2006 Dividend 0.15417 3/28/2006 3/29/2006 3/29/2006 29.30
12/29/2005 Dividend 0.14227 12/27/2005 12/28/2005 12/28/2005 28.86
9/29/2005 Dividend 0.12315 9/27/2005 9/28/2005 9/28/2005 28.19
6/24/2005 Dividend 0.12314 6/22/2005 6/23/2005 6/23/2005 27.88
3/24/2005 Dividend 0.12149 3/22/2005 3/23/2005 3/23/2005 27.13
12/29/2004 Dividend 0.00579 12/27/2004 12/28/2004 12/28/2004 27.61
6/27/2003 Dividend 0.07772 6/25/2003 6/26/2003 6/26/2003 23.99
3/28/2003 Dividend 0.11917 3/26/2003 3/27/2003 3/27/2003 21.98
12/30/2002 Dividend 0.14722 12/26/2002 12/27/2002 12/27/2002 22.20
9/27/2002 Dividend 0.16417 9/25/2002 9/26/2002 9/26/2002 21.84
6/27/2002 Dividend 0.13848 6/25/2002 6/26/2002 6/26/2002 23.45
3/27/2002 Dividend 0.19566 3/25/2002 3/26/2002 3/26/2002 25.25
12/28/2001 Dividend 0.19459 12/26/2001 12/27/2001 12/27/2001 25.99
9/27/2001 Dividend 0.18667 9/25/2001 9/26/2001 9/26/2001 23.97
6/28/2001 Dividend 0.24169 6/26/2001 6/27/2001 6/27/2001 27.27
3/29/2001 Dividend 0.23633 3/27/2001 3/28/2001 3/28/2001 26.38
12/22/2000 Dividend 0.27296 12/20/2000 12/21/2000 12/21/2000 27.70
12/8/2000 Long Term Gain 2.40142 12/6/2000 12/7/2000 12/7/2000 28.74
12/8/2000 Short Term Gain 0.03686 12/6/2000 12/7/2000 12/7/2000 28.74
9/28/2000 Dividend 0.26840 9/26/2000 9/27/2000 9/27/2000 32.99
6/29/2000 Dividend 0.25994 6/27/2000 6/28/2000 6/28/2000 32.52
3/30/2000 Dividend 0.23526 3/28/2000 3/29/2000 3/29/2000 32.78
12/23/1999 Dividend 0.22495 12/21/1999 12/22/1999 12/22/1999 31.79
12/23/1999 Long Term Gain 2.04638 12/21/1999 12/22/1999 12/22/1999 31.79
9/24/1999 Dividend 0.20902 9/22/1999 9/23/1999 9/23/1999 31.99
6/25/1999 Dividend 0.19420 6/23/1999 6/24/1999 6/24/1999 32.76
3/26/1999 Dividend 0.16076 3/24/1999 3/25/1999 3/25/1999 33.32

Holdings

Overall Fund Characteristics (Equity and Fixed Income)

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

(percentages are of entire portfolio)
Issues in Portfolio: 438
Click here for all Fund Holdings
Equity Characteristics

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

(percentages are of entire portfolio)
Issues in Portfolio: 438
Click here for all Fund Holdings
Fixed Income Characteristics

Sector Distribution - Market Value Weighted as of 6/30/2014

Fund
Corporate 67.82% 78.93%
Financial Institutions 26.74% 25.78%
Industrial 40.48% 44.18%
Utility 0.60% 8.97%
Government Related 4.57% 21.09%
Agency 1.01% 6.02%
Local Authority 2.83% 4.59%
Sovereign - 5.14%
Supranational 0.73% 5.34%
Securitized 19.64% -
Asset Backed Securities 10.99% -
CMBS 7.86% -
Covered - -
CMO - -
Mortgage Backed Passthrough 0.79% -
Treasury 4.51% -
Cash and Cash Equivalents 2.50% -
Municipals 0.97% -
Municipals 0.97% -
Total 100.01%  
(percentages are of fixed income allocation)

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

(percentages are of entire portfolio)
Issues in Portfolio: 438
Click here for all Fund Holdings

Credit Quality

(percentages are of fixed income allocation)

Important Disclosure

Holdings are subject to change.

Industry classifications provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.

Negative Cash positions may occur as the result of varying settlement schedules for securities.

Ratings are determined by using S&P, Moody's and Fitch rating services, whose rating categories are reflected above respectively. The letter ratings generally range from AAA (judged to be of the highest quality, with minimal credit risk) to D (the lowest rated class of bonds, typically in default with respect to timely payment of principal or interest). Bonds rated by all three services are assigned the median rating; if a bond is rated by only two agencies, it is assigned the lowest rating; if it is only rated by one agency, it is assigned that rating. Government securities may be rated lower than AAA/Aaa/AAA or may not be rated, and may include foreign government securities. If a bond is not rated by any of the aforementioned rating services, it appears in the "Not Rated" category. Ratings are subject to change.


Management & Commentary

Fund Management

Calvert Investment Management, Inc.

As investment advisor to the Calvert family of funds, Calvert Investment Management, Inc. oversees assets covering a broad range of equity, fixed-income, balanced, and asset allocation funds.

Natalie Trunow,
Chief Investment Officer, Equities

Matthew Duch,
Vice President and Lead Portfolio Manager

Vishal Khanduja, CFA
Vice President and Co-Portfolio Manager

Joshua Linder,
Assistant Portfolio Manager

Profit Investment Management

Profit Investment Management was founded in 1996 and is based in the Washington, D.C. metropolitan area. The firm manages primarily large-cap, U.S. equity portfolios and serves a diverse range of institutional and retail clients. Profit Investment Management pursues a valuation-sensitive, growth investing approach to identify stocks with rapid earnings expansion that may be mispriced relative to their fundamentals.

Eugene Profit,
Founder, CEO, and Chief Investment Officer

Fees & Minimums

Annual Operating Expenses (deducted from Fund assets)

Description Expense
Management fees 0.533%
Distribution and service (12b-1) fees none
Other expenses 0.147%
Indirect underlying fund expenses 0.020%
Total annual Fund operating expenses 0.700%

Shareholder Fees (fees paid directly from your account)

Description Fee
Maximum sales charge (load) imposed on purchases
(as a percentage of offering price)
none
Maximum deferred sales charge (load)
(as a percentage of purchase or redemption
proceeds, whichever is lower)
none
Redemption Fee
(unless otherwise noted in the prospectus the redemption fee applies to redemptions, including exchanges within 30 days of purchase (seven days for Class I and R shares)
2.00%

Fund Expense Ratios

Description Expense
Expense Ratio
(if no waiver/reimbursement
in effect)
0.70%
Net Expense Ratio
(if waiver/reimbursement
in effect)
n/a
Gross Expense Ratio
(if waiver/reimbursement
in effect)
n/a

Investment Minimums

Description Minimum
Minimum Initial Investment (ClassI) $1,000,000
Minimum Initial Investment for IRA (ClassI) $1,000,000
Minimum Subsequent Investment (ClassI) $250

Important Disclosure

Calvert has agreed contractually to limit direct net annual operating expenses for Calvert Balanced Portolio through January 31, 2015. This limitation does not limit the acquired fund fees and expenses incurred by a shareholder. Direct net operating expenses will not exceed 0.72% for Class I shares of the Portfolio. Only the Board of Trustees of the Fund may terminate the Fund's expense limitation before the contractual period expires, upon 60 days' prior notice to shareholders. Under the terms of the contractual expense limitation, operating expenses do not include interest expense, brokerage commissions, extraordinary expenses and taxes.

Management fees include the advisory fee paid by the Fund to the Advisor, and the administrative fee paid by the Fund to Calvert Investment Administrative Services, Inc., an affiliate of the Advisor.


Morningstar Style Box™

Morningstar Style

A style box is a graphical representation of a mutual fund's characteristics. Together, the vertical and horizontal axes can be used to classify a mutual fund into one of nine categories.

Large Blend

CBAIX is categorized as: Large Blend

Morningstar Category™

Moderate Allocation

Risk/Return Assessment

Risk/Return Assessment

Demonstrates where the Fund falls on a risk/return spectrum, relative to other Calvert Funds. Funds with more conservative objectives and strategies would fall on the left side of the spectrum, while funds with more aggressive objectives and strategies would appear on the right.

Compared against all Calvert Funds

Calvert mutual funds are underwritten and distributed by Calvert Investment Distributors, Inc., member, FINRA, and subsidiary of Calvert Investments, Inc. 800.368.2748

Calvert Investment Management, Inc. serves as the investment advisor and provides sustainability research for the Calvert mutual funds and institutional investment strategies.

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