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Calvert New Vision Small Cap Fund (CNVAX)

Daily Performance (as of 9/8/2010)
Price $12.42
Price Change $0.04 (0.32%)
YTD Return (4.75% Sales Charge) -7.27%
YTD Return (No Charge) -2.67%
Fund Facts (as of 9/8/2010)
NASDAQ Symbol CNVAX (A Shares)
Calvert Fund Number 911 (A Shares)
CUSIP Number 131582850 (A Shares)
Assets Under Management $69.18 Million

Overview

Fund Management

Calvert Asset Management Company, Inc.

Top 10 Equity Holdings

Top 10 Equity Holdings

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

Issues in Portfolio: 94
Click here for all Fund Holdings

Investment Objectives

The Fund seeks to provide long-term capital appreciation by investing primarily in small cap stocks of U.S. companies that meet the Fund’s investment criteria , including financial, sustainability and social responsibility factors. 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 stock market may decline in value; the individual stocks in the Fund may not perform as well as expected; and/or the Fund’s portfolio management practices may not work to achieve their desired result. Prices of small-cap stocks may respond to market activity differently from and can be more volatile than those of larger, more established companies. Small-cap companies are more likely to have more limited product lines, fewer capital resources and less depth of management than larger companies.

Investment Strategy

At least 80% of the Fund’s net assets will be invested in the common stocks of small-cap companies. The Fund currently defines small-cap companies as those with market capitalization of $3 billion or less at the time the Fund initially invests. Returns in the Fund will be mostly from the changes in the price of the Fund’s holdings (capital appreciation).

Important Disclosure

Holdings are subject to change.


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 Returns (%) for period ending 8/31/2010
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
A Shares (4.75% Sales Charge) -12.13 -7.13 -4.32 -13.19 -7.50 -2.77 -0.28 1/31/1997
A Shares (No Charge) -7.78 -2.49 0.43 -11.77 -6.60 -2.29 0.08 1/31/1997
Average Annual Returns (%) for period ending 6/30/2010
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
A Shares (4.75% Sales Charge) -9.89 -12.70 7.31 -13.44 -7.00 -2.34 -0.10 1/31/1997
A Shares (No Charge) -5.42 -8.38 12.64 -12.03 -6.09 -1.86 0.27 1/31/1997
The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Indices reflect no deductions for fees or expenses. An investor cannot invest directly in an index.
Fund Expenses (from Prospectus)
(Performance data quoted above already reflects deduction for Fund 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)
1.97% n/a n/a

Hypothetical Growth of $10,000

Yearly Percentage Return

Modern Portfolio Theory Statistics* as of 7/31/2010

  Fund (AShares) Russell 2000 Index
  3 yrs 5 yrs 3 yrs 5 yrs
Alpha -5.48% -5.76% n/a n/a
Beta 0.84 0.84 1.00 1.00
R-Squared 93.57% 90.90% 100.00% 100.00%
Sharpe Ratio -0.43 -0.40 -0.21 -0.10
Standard Deviation 23.09% 19.46% 26.68% 22.00%
Excess Return -4.31% -5.70% n/a n/a
Information Ratio -0.59 -0.84 n/a n/a
*Source: Zephyr StyleADVISOR using MorningstarTM data

Glossary of Terms:

In Modern Portfolio Theory statistical calculations are applied to an investment strategy to seek to construct an optimal portfolio by considering the relationship between risk and return.

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. A positive alpha figure indicates the fund has performed better than its beta would predict. In contrast, a negative alpha indicates the fund's underperformance, given the expectations established by the fund's 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.

R-Squared is a statistical measure that represents the percentage of a fund's or security's movements that can be explained by movements in a benchmark index. R-squared values range from 0 to 100 percent. An R-squared of 100 percent means that all movements of a security are completely explained by movements in the index. A high R-squared (between 85 and 100 percent) indicates the fund's performance patterns have been in line with the index. A fund with a low R-squared (70 percent or less) doesn't act much like the index. A higher R-squared value will indicate a more useful beta figure. For example, if a fund has an R-squared value of close to 100 percent but has a beta below 1, it is most likely offering higher risk-adjusted returns.

Sharpe Ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the fund's historical risk-adjusted performance.

Standard Deviation is a useful measure of a fund's risk. For example, a fund with a standard deviation of 10 can be expected to produce an annual return that is within 10 percentage points (plus or minus) of its average annual return two-thirds of the time.

Excess Return is return in excess of the risk-free rate or in excess of a benchmark.

Information Ratio is a measure of the consistency of excess return of a mutual fund as compared to its benchmark. The higher the Information Ratio of a Fund, the higher the active return of the Fund, given the amount of risk involved, and the more consistently the Fund manager beats the Fund's benchmark.

 

Pricing & Distribution

Most Recent Distributions

A Shares: Without Sales Charge
Date Type Rate Record Date Ex Date Reinvest Date Reinvest Price
12/9/2005 Long Term Gain 1.89593 12/7/2005 12/8/2005 12/8/2005 17.01
5/27/2005 Long Term Gain 0.00124 5/25/2005 5/26/2005 5/26/2005 18.25
12/10/2004 Long Term Gain 0.60446 12/8/2004 12/9/2004 12/9/2004 19.38
12/30/2002 Dividend 0.12885 12/26/2002 12/27/2002 12/27/2002 13.82
12/6/2002 Short Term Gain 0.00554 12/4/2002 12/5/2002 12/5/2002 14.55
12/7/2001 Short Term Gain 0.11652 12/5/2001 12/6/2001 12/6/2001 17.25
12/7/2001 Long Term Gain 0.25676 12/5/2001 12/6/2001 12/6/2001 17.25
12/8/2000 Short Term Gain 1.32687 12/6/2000 12/7/2000 12/7/2000 15.82
12/8/2000 Long Term Gain 0.09449 12/6/2000 12/7/2000 12/7/2000 15.82
12/24/1997 Short Term Gain 0.03579 12/22/1997 12/23/1997 12/23/1997 14.63
12/24/1997 Dividend 0.00403 12/22/1997 12/23/1997 12/23/1997 14.63

Top Holdings

Top 10 Equity Holdings

Top 10 Equity Holdings

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

Issues in Portfolio: 94
Click here for all Fund Holdings

Important Disclosure

Holdings are subject to change.


Fees & Minimums

Annual Operating Expenses (deducted from Fund assets)

Description Expense
Management fees 1.000%
Distribution and service (12b-1) fees 0.250%
Other expenses 0.720%
Total annual Fund operating expenses 1.970%

Shareholder Fees (fees paid directly from your account)

Description Fee
Maximum sales charge (load) imposed on purchases
(as a percentage of offering price)		 4.75%
Maximum deferred sales charge (load)
(as a percentage of purchase or redemption
proceeds, whichever is lower) 		none
Short term trading fee
(unless otherwise noted 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)		 1.97%
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 (ClassA) $2,000
Minimum Initial Investment for IRA (ClassA) $1,000
Minimum Subsequent Investment (ClassA) $250

Important Disclosure

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


Fund literature and resources
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.

Small Blend

CNVAX is categorized as: Small Blend

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