Calvert VP SRI Large Cap Value Portfolio

Daily Performance (as of 4/15/2014)
Price $97.03
Price Change $0.57 (0.59%)
YTD Return 0.87%
Fund Facts (as of 4/15/2014)
Calvert Fund Number 863 (I Shares)
CUSIP Number 866167307 (I Shares)
Assets Under Management $152.43 Million

Overview

Fund Management

Calvert Investment Management, Inc.

James R. McGlynn, CFA
Senior Vice President and Portfolio Manager

Top 10 Holdings

Top 10 Equity Holdings

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

Issues in Portfolio: 44
Click here for all Fund Holdings

Investment Objective

The Fund seeks long-term capital appreciation through investment primarily in large-cap U.S. common stocks that are trading at prices below what are believed to be their intrinsic value, in accordance with the Fund's corporate responsibility standards and strategies.

Investment Strategy

The Portfolio offers opportunities for long-term growth of capital through investments in large-cap company equity securities that the portfolio manager believes are undervalued. The Portfolio normally invests at least 80% of its net assets in the common stocks of large-cap companies, as defined by those within the range of market capitalizations of the Russell 1000 Value Index. The Advisor seeks to identify common stocks of companies it believes are significantly undervalued compared to their perceived worth or prospects, historical valuations or the general market level of valuation. The Advisor primarily uses a bottom-up approach focused on fundamental analysis of issuers in a number of different sectors and industries, in light of the issuers' current financial condition and industry position, as well as market, economic, political and regulatory conditions. The Portfolio has threshold responsibility standards with respect to tobacco, weapons and human rights, which it applies in determining whether a security qualifies for investment.

Investment Risk

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Portfolio or the Portfolio could underperform because of the following risks: the stock market may fall in value, causing the prices of stocks held by the Portfolio to fall; individual investments of the Portfolio may not perform as expected; and/or the Portfolio's portfolio management practices may not achieve the desired result. The Portfolio's value-oriented investing approach may fall out of favor with investors from time to time, during which the Portfolio may underperform other funds using different investment approaches. In addition, the market may not recognize a security's intrinsic value for a long time, or a stock judged to be undervalued may actually be appropriately priced, and it may not appreciate as anticipated. Large-cap companies may be unable to respond quickly to new competitive challenges, such as changes in technology, and also may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.


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.


Performance

Select additional indices to display below:

Benchmark Index

Checking this box will compare fund performance to that of its benchmark index.

Lipper Category Index

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

Average Annual Total Returns (%) for period ending 3/31/2014
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
I Shares (No Charge) 2.28 2.28 21.91 14.05 20.42 7.13 10.05 8/15/1984
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
n/a 0.78% 0.85% 51.00%

Hypothetical Growth of $10,000

Yearly Percentage Return

Modern Portfolio Theory Statistics* as of 3/31/2014

  Fund (IShares) Russell 1000 Value Index
  3 yrs 5 yrs 3 yrs 5 yrs
Alpha -0.54% -0.78% 0.00% 0.00%
Beta 0.99 0.98 1.00 1.00
R-Squared 97.79% 97.74% 100.00% 100.00%
Sharpe Ratio 1.05 1.39 1.11 1.47
Standard Deviation 13.25% 14.67% 13.22% 14.75%
Excess Return -0.76% -1.34% 0.00% 0.00%
Information Ratio -0.38 -0.60 0.00 0.00
Tracking Error 1.98% 2.22% 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

Net expense ratio reflects contractual fee waiver and/or expense reimbursement through April 30, 2014.


Pricing & Distribution

Most Recent Distributions

I Shares: Without Sales Charge
Date Type Rate Record Date Ex Date Reinvest Date Reinvest Price
12/20/2013 Dividend 1.48112 12/18/2013 12/19/2013 12/19/2013 94.08
12/28/2012 Dividend 1.33865 12/27/2012 12/28/2012 12/28/2012 72.67
12/29/2011 Dividend 1.48100 12/28/2011 12/29/2011 12/29/2011 64.45
12/30/2010 Dividend 0.98613 12/29/2010 12/30/2010 12/30/2010 66.67
12/30/2009 Dividend 1.13755 12/29/2009 12/30/2009 12/30/2009 61.22
12/30/2009 Long Term Gain 0.12360 12/29/2009 12/30/2009 12/30/2009 61.22
12/30/2008 Dividend 0.25161 12/29/2008 12/30/2008 12/30/2008 48.80
12/30/2008 Long Term Gain 0.11434 12/29/2008 12/30/2008 12/30/2008 48.80
3/3/2008 Dividend 1.69979 3/3/2008 75.18
3/3/2008 Short Term Gain 8.00227 3/3/2008 75.18
2/26/2007 Dividend 1.42141 2/26/2007 94.42
2/26/2007 Short Term Gain 8.31831 2/26/2007 94.42
2/27/2006 Dividend 1.42000 2/27/2006 86.04
2/27/2006 Short Term Gain 8.68185 2/27/2006 86.04
2/22/2005 Dividend 1.43000 2/22/2005 85.46
2/22/2005 Short Term Gain 4.00613 2/22/2005 85.46
3/8/2004 Dividend 1.26000 3/8/2004 82.95
2/28/2003 Dividend 0.09000 2/28/2003 57.31
3/1/2002 Dividend 0.43000 3/1/2002 79.27
3/1/2002 Short Term Gain 4.84186 3/1/2002 79.27
11/9/2001 Dividend 0.55000 11/9/2001 79.75
5/21/2001 Dividend 0.40000 5/21/2001 83.15
2/26/2001 Dividend 0.35000 2/26/2001 77.95
11/10/2000 Dividend 0.10000 11/10/2000 71.55
5/8/2000 Dividend 0.75000 5/8/2000 65.05
2/25/2000 Dividend 0.20000 2/25/2000 56.80
11/15/1999 Dividend 0.15000 11/15/1999 64.70
6/18/1999 Dividend 0.15000 6/18/1999 63.90
3/26/1999 Dividend 11.32045 3/26/1999 57.05
12/16/1998 Dividend 0.25000 12/16/1998 71.60
9/25/1998 Dividend 0.40000 9/25/1998 72.05
6/12/1998 Dividend 0.30000 6/12/1998 90.00
3/20/1998 Dividend 13.59890 3/20/1998 94.95
12/17/1997 Dividend 0.30000 12/17/1997 100.70
9/18/1997 Dividend 0.25000 9/18/1997 101.75
6/16/1997 Dividend 0.35000 6/16/1997 90.50
3/27/1997 Dividend 11.91050 3/27/1997 84.10
12/11/1996 Dividend 0.25000 12/11/1996 94.55
9/19/1996 Dividend 0.35000 9/19/1996 87.85
6/21/1996 Dividend 0.40000 6/21/1996 87.25
3/25/1996 Dividend 3.95000 3/25/1996 83.85
12/13/1995 Dividend 0.35000 12/13/1995 81.40
9/15/1995 Dividend 0.15000 9/15/1995 80.20
6/16/1995 Dividend 0.35000 6/16/1995 74.20
3/27/1995 Dividend 5.95000 3/27/1995 69.35
12/14/1994 Dividend 0.25000 12/14/1994 69.60
9/19/1994 Dividend 0.25000 9/19/1994 73.85
6/13/1994 Dividend 0.30000 6/13/1994 71.85
3/18/1994 Dividend 3.15000 3/18/1994 73.60
12/15/1993 Dividend 0.15000 12/15/1993 71.05
9/18/1993 Dividend 0.25000 9/18/1993 69.25
6/18/1993 Dividend 0.25000 6/18/1993 67.50
3/20/1993 Dividend 4.40758 3/20/1993 67.55
12/17/1992 Dividend 0.20000 12/17/1992 67.15
9/18/1992 Dividend 0.25000 9/18/1992 64.60
6/19/1992 Dividend 0.30000 6/19/1992 63.05
3/20/1992 Dividend 0.87890 3/20/1992 66.40
12/17/1991 Dividend 0.20000 12/17/1991 58.40
9/20/1991 Dividend 0.25000 9/20/1991 58.55
6/13/1991 Dividend 0.30000 6/13/1991 56.90
3/21/1991 Dividend 0.25000 3/21/1991 53.80
12/14/1990 Dividend 0.12500 12/14/1990 43.50
9/12/1990 Dividend 0.35000 9/12/1990 44.40
6/13/1990 Dividend 0.45000 6/13/1990 54.60
3/21/1990 Dividend 0.85000 3/21/1990 52.80
12/13/1989 Dividend 4.70000 12/13/1989 53.60
9/13/1989 Dividend 0.55000 9/13/1989 61.25
6/14/1989 Dividend 1.02889 6/14/1989 58.35
2/22/1989 Dividend 0.52500 2/22/1989 56.50
12/14/1988 Dividend 0.73000 12/14/1988 54.00
9/21/1988 Dividend 0.50000 9/21/1988 52.95
6/15/1988 Dividend 0.60000 6/15/1988 51.55
3/16/1988 Dividend 0.15000 3/16/1988 49.80
12/18/1987 Dividend 0.30000 12/18/1987 42.90
12/16/1987 Dividend 4.35000 12/16/1987 43.40
9/15/1987 Dividend 0.35000 9/15/1987 58.70
6/16/1987 Dividend 0.45000 6/16/1987 55.85
3/18/1987 Dividend 0.41470 3/18/1987 54.75
12/18/1986 Dividend 20.05000 12/18/1986 48.05
9/18/1986 Dividend 0.55000 9/18/1986 67.80
6/20/1986 Dividend 0.80000 6/20/1986 71.45
3/31/1986 Dividend 2.21750 3/31/1986 70.10
12/18/1985 Dividend 0.60000 12/18/1985 62.60
9/17/1985 Dividend 0.65000 9/17/1985 56.85
6/18/1985 Dividend 0.05500 6/18/1985 57.05
4/4/1985 Dividend 0.84500 4/4/1985 55.40
12/18/1984 Dividend 0.90000 12/18/1984 51.95
9/18/1984 Dividend 0.70000 9/18/1984 51.70

Holdings

Top 10 Holdings

Top 10 Equity Holdings

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

Issues in Portfolio: 44
Click here for all Fund Holdings

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.


Management & Commentary

Fees & Minimums

Annual Operating Expenses (deducted from Fund assets)

Description Expense
Management fees 0.740%
Distribution and service (12b-1) fees none
Other expenses 0.110%
Total annual Fund operating expenses 0.850%

Less fee waiver and/or expense reimbursement 0.070%
Net expenses 0.780%

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

Fund Expense Ratios

Description Expense
Expense Ratio
(if no waiver/reimbursement
in effect)
n/a
Net Expense Ratio
(if waiver/reimbursement
in effect)
0.78%
Gross Expense Ratio
(if waiver/reimbursement
in effect)
0.85%

Investment Minimums

Description Minimum
Minimum Initial Investment (ClassI) n/a
Minimum Initial Investment for IRA (ClassI) n/a
Minimum Subsequent Investment (ClassI) n/a

Important Disclosure

Calvert has agreed contractually to limit direct net annual operating expenses for Calvert VP SRI Large Cap Value Portfolio through April 30, 2014. Direct net operating expenses for the Portfolio will not exceed 0.78%. Only the Board of Directors of the Portfolio may terminate the Portfolio's expense limitation before the contractual period expires. Under the terms of the contractual expense limitation, operating expenses do not include interest expenses, 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 Value

is categorized as: Large Value

Morningstar Category™

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