PERFORMANCE Average Annual Returns (%) for Period Ended 9/30/2014
  QTR YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE
INCEPTION
INCEPTION
DATE
I Shares 1.76 5.21 18.23 19.49 14.21 8.49 7.49 11/1/1999
S&P 500 Index 1.13 8.34 19.73 22.99 15.70 8.11 4.51  
Lipper Large-Cap Growth Funds Average 1.28 5.65 16.93 21.29 14.67 8.14 3.23  
Characteristics
  September 30, 2014
  Portfolio Benchmark
Number of Holdings N/A 502
W. Avg Cap. (mils) $118,543.9 $130,662.6
W. Median Cap (mils) $60,756.9 $74,961.3
P/E 1-year trailing 23.3 18.5
P/E 1-year forward 18.6 16.6
EPS Growth, past 3 years 12.8% 12.2%
EPS Growth, next 3 - 5 years 14.4% 11.6%
Price to Book 3.6 2.7
Price to Sales 2.2 1.8
Dividend Yield 1.1% 1.9%
Active Share 78.7% N/A
June 30, 2014
Portfolio Benchmark
N/A 501
$102,586.2 $115,824.7
$58,491.5 $65,477.1
22.7 18.2
18.9 16.6
14.0% 11.4%
14.8% 11.6%
3.7 2.7
2.0 1.7
1.2% 2.0%
79.7% N/A
December 31, 2013
Portfolio Benchmark
N/A 500
$100,857.3 $113,301.6
$57,189.3 $64,142.8
22.2 18.0
19.9 16.8
15.6% 11.3%
15.1% 11.7%
3.6 2.7
2.0 1.7
1.1% 2.0%
77.7% N/A
Returns Based Statistics (3 Year)
  September 30, 2014
  Portfolio Benchmark
Average Annual Return 19.48% 22.99%
Standard Deviation 11.29% 10.57%
Beta vs. Market 1.02 1.00
Excess Return -3.51% 0.00%
R-Squared 90.28% 100.00%
Tracking Error 3.52% 0.00%
Information Ratio -1.00 0.00
Sharpe Ratio 1.72 2.17
June 30, 2014
Portfolio Benchmark
12.53% 16.58%
13.34% 12.26%
1.05 1.00
-4.05% 0.00%
92.41% 100.00%
3.72% 0.00%
-1.09 0.00
0.94 1.35
December 31, 2013
Portfolio Benchmark
14.41% 16.18%
12.97% 12.11%
1.03 1.00
-1.77% 0.00%
91.84% 100.00%
3.72% 0.00%
-0.48 0.00
1.11 1.33
Sector Weights / Percentage of Holdings (ex-cash)
  September 30, 2014
  Portfolio Benchmark + / -
Consumer Disc. 20.46% 11.70% 8.76%
Consumer Staples 13.86% 9.55% 4.31%
Energy 2.65% 9.70% -7.05%
Financials 12.37% 16.34% -3.96%
Health Care 16.86% 13.89% 2.97%
Industrials 8.56% 10.28% -1.72%
Information Tech 22.71% 19.66% 3.05%
Materials 2.53% 3.45% -0.92%
Telecomm Services 0.00% 2.43% -2.43%
Utilities 0.00% 3.00% -3.00%
June 30, 2014
Portfolio Benchmark + / -
18.54% 11.85% 6.69%
13.27% 9.51% 3.76%
1.80% 10.86% -9.06%
12.98% 16.05% -3.08%
17.65% 13.32% 4.33%
8.82% 10.51% -1.68%
23.86% 18.83% 5.03%
3.08% 3.51% -0.42%
0.00% 2.41% -2.41%
0.00% 3.15% -3.15%
December 31, 2013
Portfolio Benchmark + / -
18.61% 12.54% 6.07%
11.74% 9.76% 1.98%
3.10% 10.28% -7.18%
12.59% 16.18% -3.59%
16.72% 12.95% 3.76%
10.46% 10.94% -0.48%
24.22% 18.63% 5.59%
2.56% 3.50% -0.94%
0.00% 2.30% -2.30%
0.00% 2.93% -2.93%
Top Ten Holdings / Percentage of Net Assets
September 30, 2014
APPLE INC 4.66%
GILEAD SCIENCES INC 4.43%
CVS HEALTH CORP 4.24%
QUALCOMM INC 3.34%
COCA COLA CO/THE 3.17%
COSTCO WHOLESALE CORP 2.92%
WELLS FARGO + CO 2.83%
VISA INC CLASS A SHARES 2.73%
STARBUCKS CORP 2.72%
LOWE S COS INC 2.65%
Total 33.69%
June 30, 2014
APPLE INC 4.80%
CVS CAREMARK CORP 4.06%
GILEAD SCIENCES INC 3.93%
QUALCOMM INC 3.58%
COCA COLA CO/THE 3.18%
WELLS FARGO + CO 2.90%
COSTCO WHOLESALE CORP 2.72%
CIGNA CORP 2.71%
WALT DISNEY CO/THE 2.59%
DANAHER CORP 2.59%
Total 33.06%
December 31, 2013
CVS CAREMARK CORP 4.58%
APPLE INC 4.13%
GOOGLE INC CL A 3.94%
QUALCOMM INC 3.36%
COCA COLA CO/THE 3.10%
GILEAD SCIENCES INC 3.04%
ALLERGAN INC 2.77%
EXPRESS SCRIPTS HOLDING CO 2.76%
INTERCONTINENTALEXCHANGE GRO 2.74%
AMERICAN EXPRESS CO 2.69%
Total 33.11%
PERFORMANCE ATTRIBUTIONRelative to the S&P 500 Index for the quarter ending 9/30/2014
Performance Attribution Chart
Latest Quarter Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Information Tech 22.73% 19.29% 1.66% 4.76% 0.14% -0.69% -0.55%
Consumer Disc. 19.79% 11.88% 2.20% 0.26% -0.08% 0.38% 0.29%
Health Care 17.76% 13.56% 8.66% 5.46% 0.17% 0.56% 0.74%
Consumer Staples 13.54% 9.47% 4.59% 1.95% 0.04% 0.34% 0.39%
Financials 12.52% 16.16% -2.52% 2.33% -0.05% -0.63% -0.67%
Industrials 8.63% 10.30% -6.38% -1.10% 0.04% -0.48% -0.44%
Materials 3.03% 3.51% -1.49% 0.22% 0.01% -0.05% -0.04%
Energy 2.00% 10.42% -2.24% -8.62% 0.83% 0.13% 0.96%
Telecomm Services 0.00% 2.42% 0.00% 3.07% -0.04% 0.00% -0.04%
Utilities 0.00% 3.00% 0.00% -3.96% 0.16% 0.00% 0.16%
Total 100.00% 100.00% 1.92% 1.13% 1.23% -0.44% 0.80%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Gilead Sciences, Inc. Health Care 0.91%
Costco Wholesale Corporation Consumer Staples 0.20%
eBay Inc. Information Tech 0.19%
Ross Stores, Inc. Consumer Disc. 0.19%
Lowe's Companies, Inc. Consumer Disc. 0.19%
CVS Health Corporation Consumer Staples 0.18%
Exxon Mobil Corporation Energy 0.17%
NIKE, Inc. Class B Consumer Disc. 0.16%
Schlumberger NV Energy 0.13%
Chevron Corporation Energy 0.13%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Energy Underweight 0.83%
Health Care Overweight 0.17%
Utilities Underweight 0.16%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Gilead Sciences, Inc. Health Care 1.16%
Apple Inc. Information Tech 0.42%
eBay Inc. Information Tech 0.26%
Costco Wholesale Corporation Consumer Staples 0.26%
CVS Health Corporation Consumer Staples 0.25%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Eaton Corp. Plc Industrials -0.26%
QUALCOMM Incorporated Information Tech -0.18%
Fastenal Company Industrials -0.18%
American Express Company Financials -0.17%
Michael Kors Holdings Ltd Consumer Disc. -0.16%
B/E Aerospace Inc. Industrials -0.13%
T. Rowe Price Group Financials -0.12%
Microsoft Corporation Information Tech -0.12%
Facebook, Inc. Class A Information Tech -0.11%
Intel Corporation Information Tech -0.11%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Consumer Disc. Overweight -0.08%
Financials Underweight -0.05%
Telecomm Services Underweight -0.04%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Eaton Corp. Plc Industrials -0.28%
American Express Company Financials -0.19%
QUALCOMM Incorporated Information Tech -0.19%
Michael Kors Holdings Ltd Consumer Disc. -0.17%
Fastenal Company Industrials -0.16%
PERFORMANCE ATTRIBUTIONRelative to the S&P 500 Index for the period ending 9/30/2014
Performance Attribution Chart
Year-To-Date Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Information Tech 23.29% 18.90% 7.17% 14.13% 0.26% -1.47% -1.22%
Consumer Disc. 19.00% 12.05% -0.31% 0.86% -0.52% -0.22% -0.74%
Health Care 17.68% 13.42% 21.09% 16.62% 0.32% 0.72% 1.04%
Consumer Staples 13.08% 9.59% 5.30% 7.23% -0.03% -0.24% -0.27%
Financials 12.66% 16.22% 0.47% 7.49% 0.03% -0.87% -0.84%
Industrials 9.29% 10.57% -1.31% 2.81% 0.08% -0.39% -0.31%
Materials 2.86% 3.51% 3.96% 8.87% -0.00% -0.15% -0.15%
Energy 2.14% 10.36% -0.61% 3.38% 0.34% -0.15% 0.19%
Telecomm Services 0.00% 2.37% 0.00% 6.89% 0.02% 0.00% 0.02%
Utilities 0.00% 3.02% 0.00% 13.73% -0.15% 0.00% -0.15%
Total 100.00% 100.00% 5.92% 8.34% 0.34% -2.76% -2.42%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Allergan, Inc. Health Care 1.23%
Gilead Sciences, Inc. Health Care 1.03%
Exxon Mobil Corporation Energy 0.34%
Apple Inc. Information Tech 0.27%
General Electric Company Industrials 0.24%
CVS Health Corporation Consumer Staples 0.15%
Chevron Corporation Energy 0.14%
Walt Disney Company Consumer Disc. 0.14%
Pfizer Inc. Health Care 0.10%
Kansas City Southern Industrials 0.10%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Energy Underweight 0.34%
Health Care Overweight 0.32%
Information Tech Overweight 0.26%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Gilead Sciences, Inc. Health Care 1.57%
Allergan, Inc. Health Care 1.55%
Apple Inc. Information Tech 1.19%
CVS Health Corporation Consumer Staples 0.54%
Wells Fargo & Company Financials 0.44%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Intercontinental Exchange, Inc. Financials -0.57%
Amazon.com, Inc. Consumer Disc. -0.47%
Whole Foods Market, Inc. Consumer Staples -0.40%
Informatica Corporation Information Tech -0.34%
Eaton Corp. Plc Industrials -0.33%
Bed Bath & Beyond Inc. Consumer Disc. -0.24%
Noble Corporation PLC Energy -0.24%
American Express Company Financials -0.22%
Perrigo Co. Plc Health Care -0.22%
Danaher Corporation Industrials -0.22%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Consumer Disc. Overweight -0.52%
Utilities Underweight -0.15%
Consumer Staples Overweight -0.03%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Amazon.com, Inc. Consumer Disc. -0.52%
Intercontinental Exchange, Inc. Financials -0.36%
Whole Foods Market, Inc. Consumer Staples -0.33%
Bed Bath & Beyond Inc. Consumer Disc. -0.27%
Noble Corporation PLC Energy -0.27%
PERFORMANCE ATTRIBUTIONRelative to the S&P 500 Index for the period ending 9/30/2014
Performance Attribution Chart
1-Year Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Information Tech 23.65% 18.65% 23.01% 29.29% 0.43% -1.11% -0.68%
Consumer Disc. 19.06% 12.16% 9.14% 11.76% -0.52% -0.46% -0.98%
Health Care 17.07% 13.33% 41.42% 28.43% 0.30% 1.73% 2.04%
Consumer Staples 12.77% 9.71% 19.92% 16.52% -0.07% 0.37% 0.30%
Financials 12.60% 16.27% 17.67% 18.50% 0.04% -0.03% 0.00%
Industrials 9.48% 10.63% 8.91% 16.68% 0.06% -0.71% -0.65%
Materials 2.82% 3.50% 10.06% 20.47% -0.01% -0.27% -0.28%
Energy 2.54% 10.39% -1.40% 12.08% 0.48% -0.62% -0.14%
Telecomm Services 0.00% 2.34% 0.00% 13.06% 0.12% 0.00% 0.12%
Utilities 0.00% 3.01% 0.00% 16.51% 0.09% 0.00% 0.09%
Total 100.00% 100.00% 19.55% 19.73% 0.92% -1.09% -0.19%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Allergan, Inc. Health Care 1.52%
Gilead Sciences, Inc. Health Care 1.24%
CVS Health Corporation Consumer Staples 0.77%
Google Inc. Class A Information Tech 0.37%
Apple Inc. Information Tech 0.35%
Walt Disney Company Consumer Disc. 0.28%
Chevron Corporation Energy 0.26%
Philip Morris International Inc. Consumer Staples 0.16%
Exxon Mobil Corporation Energy 0.14%
Pfizer Inc. Health Care 0.14%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Energy Underweight 0.48%
Information Tech Overweight 0.43%
Health Care Overweight 0.30%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Gilead Sciences, Inc. Health Care 2.18%
Allergan, Inc. Health Care 2.16%
Apple Inc. Information Tech 1.97%
CVS Health Corporation Consumer Staples 1.75%
Google Inc. Class A Information Tech 1.31%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Fastenal Company Industrials -0.47%
Noble Corporation PLC Energy -0.44%
Starbucks Corporation Consumer Disc. -0.40%
Informatica Corporation Information Tech -0.39%
Whole Foods Market, Inc. Consumer Staples -0.39%
Bed Bath & Beyond Inc. Consumer Disc. -0.34%
Eaton Corp. Plc Industrials -0.31%
Cameron International Corporation Energy -0.31%
eBay Inc. Information Tech -0.29%
McDonald's Corporation Consumer Disc. -0.29%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Consumer Disc. Overweight -0.52%
Consumer Staples Overweight -0.07%
Materials Underweight -0.01%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Whole Foods Market, Inc. Consumer Staples -0.33%
Noble Corporation PLC Energy -0.27%
Bed Bath & Beyond Inc. Consumer Disc. -0.22%
Informatica Corporation Information Tech -0.19%
Fastenal Company Industrials -0.17%

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