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Calvert World Values International Equity Fund (CWVGX)

Daily Performance (as of 2/8/2010)
Price $12.47
Price Change $-0.04 (-0.32%)
YTD Return (4.75% Sales Charge) -12.37%
YTD Return (No Charge) -7.97%
Fund Facts (as of 2/8/2010)
NASDAQ Symbol CWVGX (A Shares)
Calvert Fund Number 926 (A Shares)
CUSIP Number 131649105 (A Shares)
Assets Under Management $271.94 Million

Fund Management

Calvert Asset Management Company, Inc.

Martin Currie Investment Management, Ltd.

Thornburg Investment Management, 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: 295
Click here for all Fund Holdings

Investment Objectives

The Fund seeks to provide a high total return consistent with reasonable risk by investing primarily in a diversified portfolio of stocks that meet the Fund's investment and social criteria. 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 (including markets outside the U.S.) 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. Investment in foreign securities involves greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations.

Investment Strategy

Under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities of foreign companies. The Fund invests primarily in the common and preferred stocks of non-U.S. large cap companies using a core investment approach. The Fund defines "non-U.S. large cap" companies as those whose market capitalization falls within the range of the Morgan Stanley Capital International (MSCI) Europe, Australasia and Far East (EAFE) Global Investable Market Index (IMI). In the multi-manager structure, Thornburg and Martin Currie are two higher tracking error, highly concentrated growth biased managers that serve as the main alpha generating vehicles for the Fund, while Calvert provides style balance to the Fund with a more value-oriented, more diversified investment strategy and lower tracking error. Calvert may shift allocations between managers depending on market conditions, managers’ respective style biases, and performance opportunities.

Important Disclosure

Holdings are subject to change.


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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 1/31/2010
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
A Shares (4.75% Sales Charge) -9.14 -9.14 27.04 -15.40 -2.87 -2.74 2.93 7/2/1992
A Shares (No Charge) -4.58 -4.58 33.42 -14.02 -1.92 -2.26 3.22 7/2/1992
Average Annual Returns (%) for period ending 12/31/2009
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
A Shares (4.75% Sales Charge) 15.94 -5.95 15.94 -14.08 -2.26 -3.04 3.22 7/2/1992
A Shares (No Charge) 21.74 -1.26 21.74 -12.68 -1.30 -2.57 3.51 7/2/1992
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)
1.87% n/a n/a

Hypothetical Growth of $10,000

Yearly Percentage Return

Modern Portfolio Theory Statistics* as of 12/31/2009

  Fund (A shares) MSCI EAFE Investable Market Index
  3 yrs 5 yrs 3 yrs 5 yrs
Alpha -6.63% -5.22% n/a n/a
Beta 1.06 1.07 1.00 1.00
R-Squared 95.11% 95.43% 100.00% 100.00%
Sharpe Ratio -0.56 -0.19 -0.33 0.06
Standard Deviation 26.39% 21.63% 24.18% 19.81%
Excess Return -7.02% -5.46% n/a n/a
Information Ratio -1.16 -1.14 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. 


 

Most Recent Distributions

A Shares: Without Sales Charge
Date Type Rate Record Date Ex Date Reinvest Date Reinvest Price
12/24/2009 Dividend 0.09694 12/22/2009 12/23/2009 12/23/2009 13.61
12/24/2008 Dividend 0.36935 12/22/2008 12/23/2008 12/23/2008 10.66
12/4/2008 Short Term Gain 0.03008 12/2/2008 12/3/2008 12/3/2008 10.45
12/28/2007 Dividend 0.23664 12/26/2007 12/27/2007 12/27/2007 21.50
12/7/2007 Long Term Gain 1.21822 12/5/2007 12/6/2007 12/6/2007 22.71
12/7/2007 Short Term Gain 0.71564 12/5/2007 12/6/2007 12/6/2007 22.71
12/28/2006 Dividend 0.19996 12/26/2006 12/27/2006 12/27/2006 23.37
12/8/2006 Long Term Gain 2.14814 12/6/2006 12/7/2006 12/7/2006 23.15
12/8/2006 Short Term Gain 0.78386 12/6/2006 12/7/2006 12/7/2006 23.15
12/29/2005 Dividend 0.16710 12/27/2005 12/28/2005 12/28/2005 21.04
12/29/2004 Dividend 0.11167 12/27/2004 12/28/2004 12/28/2004 18.99
12/30/2003 Dividend 0.17074 12/26/2003 12/29/2003 12/29/2003 16.07
12/30/2002 Dividend 0.06041 12/26/2002 12/27/2002 12/27/2002 12.60
12/7/2001 Long Term Gain 0.07981 12/5/2001 12/6/2001 12/6/2001 14.97
12/8/2000 Long Term Gain 1.37627 12/6/2000 12/7/2000 12/7/2000 19.77
12/23/1999 Long Term Gain 0.08949 12/21/1999 12/22/1999 12/22/1999 24.37
12/23/1999 Short Term Gain 0.87238 12/21/1999 12/22/1999 12/22/1999 24.37
12/24/1998 Dividend 0.07177 12/22/1998 12/23/1998 12/23/1998 19.98
12/24/1998 Long Term Gain 1.51341 12/22/1998 12/23/1998 12/23/1998 19.98
12/24/1998 Short Term Gain 0.04994 12/22/1998 12/23/1998 12/23/1998 19.98
12/24/1997 Dividend 0.05529 12/22/1997 12/23/1997 12/23/1997 18.50
12/24/1997 Long Term Gain 0.55526 12/22/1997 12/23/1997 12/23/1997 18.50
12/24/1997 Short Term Gain 0.82504 12/22/1997 12/23/1997 12/23/1997 18.50
12/27/1996 Dividend 0.05077 12/24/1996 12/26/1996 12/26/1996 18.76
12/27/1996 Long Term Gain 0.24238 12/24/1996 12/26/1996 12/26/1996 18.76
12/27/1996 Short Term Gain 0.17714 12/24/1996 12/26/1996 12/26/1996 18.76
12/29/1995 Dividend 0.13605 12/22/1995 12/26/1995 12/28/1995 17.40
11/30/1995 Long Term Gain 0.27990 11/24/1995 11/27/1995 11/29/1995 17.15
11/30/1995 Short Term Gain 0.15786 11/24/1995 11/27/1995 11/29/1995 17.15
12/23/1994 Short Term Gain 0.68441 12/16/1994 12/19/1994 12/22/1994 16.02
11/25/1994 Long Term Gain 0.17743 11/18/1994 11/21/1994 11/23/1994 17.04
12/31/1993 Dividend 0.07388 12/23/1993 12/27/1993 12/30/1993 17.43
11/26/1993 Dividend 0.38937 11/19/1993 11/22/1993 11/24/1993 16.21
11/26/1993 Long Term Gain 0.04309 11/19/1993 11/22/1993 11/24/1993 16.21
12/31/1992 Dividend 0.00564 12/24/1992 12/28/1992 12/30/1992 14.29
11/27/1992 Dividend 0.04807 11/20/1992 11/23/1992 11/25/1992 14.12
11/27/1992 Long Term Gain 0.03261 11/20/1992 11/23/1992 11/25/1992 14.12

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: 295
Click here for all Fund Holdings

Top 10 Countries (% of total investment)

Top 10 Countries (% of total investment)

The portfolio invests in companies based in these countries. The number next to each country name indicates the percentage of the portfolio that investments in that country comprise.

Important Disclosure

Holdings are subject to change.


Fund Management

Calvert Asset Management Company, Inc.

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

Martin Currie Investment Management, Ltd.

Thornburg Investment Management, Inc.

Quarterly Fund Commentary

Related Market Outlook

Annual Operating Expenses (deducted from fund assets)

Description Expense
Management fees 1.090%
Distribution and service (12b-1) fees 0.250%
Other expenses 0.530%
Total annual fund operating expenses 1.870%

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)		 none

Fund Expense Ratios

Description Expense
Expense Ratio
(if no waiver/reimbursement
in effect)		 1.87%
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 (Class A) $2,000
Minimum Initial Investment for IRA (Class A) $1,000
Minimum Subsequent Investment (Class A) $250

Important Disclosure

Annual fund operating expenses are based on expenses for the Fund's most recent fiscal year unless otherwise noted.


Calvert voluntarily waives 0.025% of its annual advisory fee for CWVF International Equity Fund on assets in excess of $250 million up to $500 million, and an additional 0.05% on assets in excess of $500 million, contingent upon the continued service by Acadian Asset Management, Inc. as Subadvisor to the Fund at a specified annual fee. Calvert may cease this waiver at any time.


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.

Large Value

CWVGX is categorized as: Large Value

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