PERFORMANCE Average Annual Returns (%) for Period Ended 6/30/2014
  QTR YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE
INCEPTION
INCEPTION
DATE
I Shares 5.57 7.60 20.13 15.01 18.54 6.41 5.06 4/15/1998
Russell 1000 Index 5.12 7.27 25.35 16.63 19.25 8.19 5.77  
Lipper Large-Cap Core Funds Average 4.59 6.35 23.53 15.06 17.32 7.32 5.25  
Characteristics
  June 30, 2014
  Portfolio Benchmark
Number of Holdings N/A 1,027
W. Avg Cap. (mils) $107,772.4 $101,829.0
W. Median Cap (mils) $44,901.8 $52,253.7
P/E 1-year trailing 16.7 18.6
P/E 1-year forward 15.3 17.0
EPS Growth, past 3 years 14.1% 12.1%
EPS Growth, next 3 - 5 years 10.4% 12.2%
Price to Book 2.7 2.7
Price to Sales 1.5 1.7
Dividend Yield 1.8% 1.9%
Active Share 89.2% N/A
March 31, 2014
Portfolio Benchmark
N/A 1,016
$94,056.2 $100,346.5
$40,560.1 $51,608.6
15.8 17.9
14.7 16.4
13.7% 13.3%
10.7% 12.0%
2.6 2.6
1.5 1.7
1.9% 1.9%
89.3% N/A
December 31, 2013
Portfolio Benchmark
N/A 1,015
$94,000.3 $101,057.4
$43,175.7 $52,116.1
15.8 18.2
15.1 17.1
14.8% 12.6%
11.3% 12.1%
2.6 2.7
1.5 1.6
1.8% 1.9%
89.3% N/A
Returns Based Statistics (3 Year)
  June 30, 2014
  Portfolio Benchmark
Average Annual Return 15.00% 16.63%
Standard Deviation 11.47% 12.57%
Beta vs. Market 0.89 1.00
Excess Return -1.62% 0.00%
R-Squared 95.17% 100.00%
Tracking Error 2.88% 0.00%
Information Ratio -0.56 0.00
Sharpe Ratio 1.30 1.32
March 31, 2014
Portfolio Benchmark
13.70% 14.75%
11.53% 12.78%
0.88 1.00
-1.04% 0.00%
95.18% 100.00%
2.96% 0.00%
-0.35 0.00
1.18 1.15
December 31, 2013
Portfolio Benchmark
15.23% 16.30%
10.98% 12.43%
0.86 1.00
-1.06% 0.00%
95.11% 100.00%
2.98% 0.00%
-0.36 0.00
1.38 1.31
Sector Weights / Percentage of Holdings (ex-cash)
  June 30, 2014
  Portfolio Benchmark + / -
Consumer Disc. 18.78% 12.39% 6.39%
Consumer Staples 6.84% 8.69% -1.86%
Energy 6.15% 10.12% -3.97%
Financials 18.81% 16.79% 2.02%
Health Care 19.22% 12.99% 6.23%
Industrials 11.15% 11.37% -0.22%
Information Tech 17.26% 18.36% -1.11%
Materials 0.00% 3.82% -3.82%
Telecomm Services 1.81% 2.30% -0.50%
Utilities 0.00% 3.18% -3.18%
March 31, 2014
Portfolio Benchmark + / -
18.81% 12.89% 5.92%
7.13% 8.80% -1.67%
6.06% 9.58% -3.52%
19.12% 17.14% 1.99%
19.72% 12.95% 6.78%
10.78% 11.25% -0.47%
16.52% 18.22% -1.70%
0.00% 3.75% -3.75%
1.85% 2.36% -0.51%
0.00% 3.06% -3.06%
December 31, 2013
Portfolio Benchmark + / -
18.64% 13.37% 5.28%
8.89% 8.96% -0.07%
5.74% 9.62% -3.88%
19.07% 16.92% 2.15%
17.45% 12.57% 4.88%
10.89% 11.48% -0.58%
16.28% 18.20% -1.92%
0.00% 3.73% -3.73%
3.04% 2.23% 0.81%
0.00% 2.93% -2.93%
Top Ten Holdings / Percentage of Net Assets
June 30, 2014
APPLE INC 6.14%
JOHNSON + JOHNSON 4.81%
WELLS FARGO + CO 4.58%
MEDTRONIC INC 3.65%
DIRECTV 3.63%
CAPITAL ONE FINANCIAL CORP 3.62%
FEDEX CORP 3.61%
MCKESSON CORP 3.56%
TIME WARNER CABLE 3.54%
KELLOGG CO 3.52%
Total 40.64%
March 31, 2014
APPLE INC 6.00%
JOHNSON + JOHNSON 4.35%
CAPITAL ONE FINANCIAL CORP 3.60%
DIRECTV 3.54%
FEDEX CORP 3.50%
WELLS FARGO + CO 3.41%
AMGEN INC 3.38%
CISCO SYSTEMS INC 3.35%
EXTERRAN HOLDINGS INC 3.22%
DANAHER CORP 3.08%
Total 37.43%
December 31, 2013
APPLE INC 5.67%
JOHNSON + JOHNSON 4.07%
WELLS FARGO + CO 4.04%
CVS CAREMARK CORP 3.66%
CISCO SYSTEMS INC 3.36%
FEDEX CORP 3.22%
CAPITAL ONE FINANCIAL CORP 3.22%
DIRECTV 3.21%
DANAHER CORP 3.18%
AMGEN INC 3.14%
Total 36.77%
PERFORMANCE ATTRIBUTIONRelative to the Russell 1000 Index for the quarter ending 6/30/2014
Performance Attribution Chart
Latest Quarter Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Health Care 19.25% 12.86% 3.05% 4.62% -0.03% -0.32% -0.35%
Financials 19.01% 16.89% 4.44% 2.48% -0.05% 0.38% 0.33%
Consumer Disc. 18.76% 12.69% 5.54% 3.33% -0.10% 0.41% 0.31%
Information Tech 16.97% 17.98% 10.71% 6.00% 0.00% 0.76% 0.76%
Industrials 11.01% 11.36% 9.17% 3.81% 0.00% 0.57% 0.58%
Consumer Staples 7.12% 8.91% 1.63% 4.87% 0.01% -0.22% -0.22%
Energy 6.04% 10.03% 7.22% 12.28% -0.26% -0.31% -0.57%
Telecomm Services 1.83% 2.38% 2.79% 4.11% 0.01% -0.02% -0.01%
Utilities 0.00% 3.11% 0.00% 7.74% -0.08% 0.00% -0.08%
Materials 0.00% 3.78% 0.00% 5.52% -0.01% 0.00% -0.01%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Apple Inc. Information Tech 0.64%
FedEx Corporation Industrials 0.32%
DIRECTV Consumer Disc. 0.22%
Cisco Systems, Inc. Information Tech 0.19%
Denbury Resources Inc. Energy 0.19%
Time Warner Inc. Consumer Disc. 0.16%
Bank of America Corporation Financials 0.15%
Moody's Corporation Financials 0.15%
Pfizer Inc. Health Care 0.13%
JPMorgan Chase & Co. Financials 0.12%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Telecomm Services Underweight 0.01%
Consumer Staples Underweight 0.01%
Industrials Underweight 0.00%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Apple Inc. Information Tech 1.43%
FedEx Corporation Industrials 0.53%
DIRECTV Consumer Disc. 0.43%
Cisco Systems, Inc. Information Tech 0.43%
Johnson & Johnson Health Care 0.34%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Credit Suisse Group AG Sponsored ADR Financials -0.40%
Amgen Inc. Health Care -0.27%
Target Corporation Consumer Disc. -0.23%
CA, Inc. Information Tech -0.22%
Roche Holding Ltd Sponsored ADR Health Care -0.19%
DST Systems, Inc. Information Tech -0.15%
Omnicom Group Inc Consumer Disc. -0.13%
Schlumberger NV Energy -0.11%
Kimberly-Clark Corporation Consumer Staples -0.10%
Intel Corporation Information Tech -0.10%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Energy Underweight -0.26%
Consumer Disc. Overweight -0.10%
Utilities Underweight -0.08%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Credit Suisse Group AG Sponsored ADR Financials -0.28%
Amgen Inc. Health Care -0.14%
CA, Inc. Information Tech -0.13%
Target Corporation Consumer Disc. -0.11%
DST Systems, Inc. Information Tech -0.06%
PERFORMANCE ATTRIBUTIONRelative to the Russell 1000 Index for the period ending 6/30/2014
Performance Attribution Chart
Year-To-Date Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Financials 18.96% 16.97% 6.59% 5.53% -0.03% 0.20% 0.18%
Health Care 18.95% 12.97% 11.52% 10.74% 0.15% 0.14% 0.29%
Consumer Disc. 18.71% 12.93% 4.88% 1.23% -0.34% 0.67% 0.33%
Information Tech 16.62% 18.14% 8.64% 8.45% -0.01% 0.03% 0.02%
Industrials 10.86% 11.35% 7.15% 4.30% 0.01% 0.30% 0.31%
Consumer Staples 7.71% 8.84% 7.04% 5.47% -0.02% 0.22% 0.21%
Energy 5.95% 9.75% 21.39% 13.94% -0.23% 0.40% 0.18%
Telecomm Services 2.24% 2.26% -3.99% 4.06% -0.07% -0.12% -0.18%
Utilities 0.00% 3.04% 0.00% 18.19% -0.30% 0.00% -0.30%
Materials 0.00% 3.76% 0.00% 8.91% -0.06% 0.00% -0.06%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Exterran Holdings, Inc. Energy 0.67%
DIRECTV Consumer Disc. 0.51%
Apple Inc. Information Tech 0.43%
Johnson & Johnson Health Care 0.25%
Wells Fargo & Company Financials 0.23%
Amazon.com, Inc. Consumer Disc. 0.20%
General Electric Company Industrials 0.18%
McKesson Corporation Health Care 0.16%
Exxon Mobil Corporation Energy 0.15%
Cisco Systems, Inc. Information Tech 0.15%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Health Care Overweight 0.15%
Industrials Underweight 0.01%
Information Tech Underweight -0.01%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Apple Inc. Information Tech 1.18%
Exterran Holdings, Inc. Energy 0.91%
DIRECTV Consumer Disc. 0.82%
Johnson & Johnson Health Care 0.71%
Wells Fargo & Company Financials 0.61%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
CA, Inc. Information Tech -0.43%
Target Corporation Consumer Disc. -0.42%
Credit Suisse Group AG Sponsored ADR Financials -0.34%
Toyota Motor Corp. Sponsored ADR Consumer Disc. -0.22%
Omnicom Group Inc Consumer Disc. -0.21%
Rogers Communications Inc. Class B Telecomm Services -0.20%
Danaher Corporation Industrials -0.16%
Schlumberger NV Energy -0.15%
Viacom Inc. Class B Consumer Disc. -0.14%
Aflac Incorporated Financials -0.13%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Consumer Disc. Overweight -0.34%
Utilities Underweight -0.30%
Energy Underweight -0.23%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
CA, Inc. Information Tech -0.31%
Target Corporation Consumer Disc. -0.25%
Rogers Communications Inc. Class B Telecomm Services -0.19%
Credit Suisse Group AG Sponsored ADR Financials -0.16%
Omnicom Group Inc Consumer Disc. -0.07%
PERFORMANCE ATTRIBUTIONRelative to the Russell 1000 Index for the period ending 6/30/2014
Performance Attribution Chart
1-Year Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Financials 19.15% 17.12% 18.53% 18.55% -0.12% -0.01% -0.13%
Consumer Disc. 19.03% 13.05% 19.02% 21.72% -0.13% -0.62% -0.75%
Health Care 16.96% 12.77% 26.59% 30.75% 0.16% -0.69% -0.53%
Information Tech 16.17% 17.92% 19.63% 32.66% -0.10% -1.90% -2.00%
Industrials 9.81% 11.23% 44.11% 29.29% -0.13% 1.02% 0.89%
Consumer Staples 9.60% 9.06% 16.36% 15.93% -0.13% -0.08% -0.21%
Energy 5.66% 9.80% 34.88% 30.75% -0.16% 0.23% 0.07%
Telecomm Services 3.62% 2.24% 12.79% 7.68% -0.38% 0.54% 0.16%
Utilities 0.00% 3.08% 0.00% 21.11% 0.16% 0.00% 0.16%
Materials 0.00% 3.72% 0.00% 32.04% -0.22% 0.00% -0.22%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Exterran Holdings, Inc. Energy 1.02%
FedEx Corporation Industrials 0.73%
DIRECTV Consumer Disc. 0.66%
Apple Inc. Information Tech 0.45%
Dover Corporation Industrials 0.37%
International Business Machines Corporation Information Tech 0.30%
BT Group plc Sponsored ADR Telecomm Services 0.29%
CVS Caremark Corporation Consumer Staples 0.29%
Moody's Corporation Financials 0.26%
Exxon Mobil Corporation Energy 0.24%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Utilities Underweight 0.16%
Health Care Overweight 0.16%
Information Tech Underweight -0.10%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Apple Inc. Information Tech 2.36%
FedEx Corporation Industrials 1.61%
Exterran Holdings, Inc. Energy 1.41%
DIRECTV Consumer Disc. 1.18%
CVS Caremark Corporation Consumer Staples 1.18%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Target Corporation Consumer Disc. -1.18%
Toyota Motor Corp. Sponsored ADR Consumer Disc. -0.71%
Cisco Systems, Inc. Information Tech -0.70%
Credit Suisse Group AG Sponsored ADR Financials -0.52%
Denbury Resources Inc. Energy -0.50%
Symantec Corporation Information Tech -0.47%
DaVita HealthCare Partners Inc. Health Care -0.45%
CA, Inc. Information Tech -0.39%
Western Union Company Information Tech -0.38%
JPMorgan Chase & Co. Financials -0.37%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Telecomm Services Overweight -0.38%
Materials Underweight -0.22%
Energy Underweight -0.16%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Target Corporation Consumer Disc. -0.50%
Credit Suisse Group AG Sponsored ADR Financials -0.20%
DaVita HealthCare Partners Inc. Health Care -0.18%
Rogers Communications Inc. Class B Telecomm Services -0.10%
Campbell Soup Company Consumer Staples -0.06%

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