Calvert Government Fund: A Shares

PERFORMANCE PROFILE AS OF 3/31/2013
Objective	Strategy
The Fund seeks to maximize income, to the extent consistent with preservation of capital, primarily through investment in debt securities issued or guaranteed by the U.S. government, its agencies or instrumentalities.	Under normal circumstances, the Fund will invest at least 80% of its net assets in (i) debt securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities ("U.S. Government Securities"), (ii) repurchase agreements collateralized by U.S. Government Securities and (iii) incidental to those investments, futures contracts that are related to U.S. Government Securities. The Fund may also invest in corporate debt securities, trust preferred securities, taxable municipal securities, asset-backed securities, including commercial mortgage-backed securities, and repurchase agreements. The Fund uses an active strategy, seeking relative value to earn incremental income. There is no limit on the Fund's average maturity. The Fund seeks to avoid investing in tobacco companies.

PERFORMANCE PROFILE AS OF 3/31/2013

Objective

Strategy

The Fund seeks to maximize income, to the extent consistent with preservation of capital, primarily through investment in debt securities issued or guaranteed by the U.S. government, its agencies or instrumentalities.

Under normal circumstances, the Fund will invest at least 80% of its net assets in (i) debt securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities ("U.S. Government Securities"), (ii) repurchase agreements collateralized by U.S. Government Securities and (iii) incidental to those investments, futures contracts that are related to U.S. Government Securities. The Fund may also invest in corporate debt securities, trust preferred securities, taxable municipal securities, asset-backed securities, including commercial mortgage-backed securities, and repurchase agreements. The Fund uses an active strategy, seeking relative value to earn incremental income. There is no limit on the Fund's average maturity. The Fund seeks to avoid investing in tobacco companies.

Ticker Symbol	CUSIP Number	Net Assets ($MILS)	# Of Fixed Income Holdings	Benchmark	Management
CGVAX	131582546	$40.3	73	Barclays U.S. Government Index	Calvert Investment Management, Inc.

PORTFOLIO STATISTICSAs of 3/31/2013
	FUND	BENCHMARK
SEC YIELD	0.60%	N/A
EFFECTIVE DURATION	4.12 YRS	5.12 YRS
WEIGHTED AVERAGE EFFECTIVE MATURITY	6.63 YRS	6.25 YRS
WEIGHTED AVERAGE PRICE	102.30	107.27
# OF FIXED INCOME HOLDINGS	73	1056

TOP HOLDINGSAs of 3/31/2013
Holding	% of Net Assets
FREDDIE MAC	18.56%
FREDDIE MAC	12.23%
FANNIE MAE	7.12%
FHLMC MULTIFAMILY STRUCTURED P	4.85%
PRIVATE EXPORT FUNDING	4.78%
FHLMC MULTIFAMILY STRUCTURED P	3.37%
PRIVATE EXPORT FUNDING	2.97%
FNMA TBA 3PCT APR 30YR	2.91%
TENN VALLEY AUTHORITY	2.89%
PRIVATE EXPORT FUNDING	2.44%
Total	62.13%

The Fund may or may not still invest in, and no action is recommended on, companies listed. For the most recently available information on the Fund's holdings, visit www.calvert.com.

CREDIT QUALITY (% of Net Assets)As of 3/31/2013
	FUND	BENCHMARK
Cash	0.39%	-
Government	77.00%	-
AAA/Aaa/AAA	5.43%	96.90%
AA/Aa/AA	4.34%	3.08%
A/A/A	7.96%	0.02%
BBB/Baa/BBB	4.37%	0.00%
BB/Ba/BB	-	-
B/B/B	-	-
CCC/Caa/CCC	-	-
CC/CC/CC	-	-
C/C/C	-	-
Not Rated	0.51%	-
Equities	-	-

Ratings are determined by using S&P, Moody's and Fitch rating services, whose rating categories are reflected above respectively. The letter ratings generally range from AAA (judged to be of the highest quality, with minimal credit risk) to D (the lowest rated class of bonds, typically in default with respect to timely payment of principal or interest). Bonds rated by all three services are assigned the median rating; if a bond is rated by only two agencies, it is assigned the lowest rating; if it is only rated by one agency, it is assigned that rating. Government securities may be rated lower than AAA/Aaa/AAA or may not be rated, and may include foreign government securities. If a bond is not rated by any of the aforementioned rating services, it appears in the "Not Rated" category. Ratings are subject to change.

EFFECTIVE MATURITY DISTRIBUTIONAs of 3/31/2013
Years	Percentage
0-1	17.23%
1-3	10.36%
3-5	7.09%
5-7	25.98%
7-10	33.77%
10-20	2.41%
20-30	3.16%
30+	0.00%
TOTAL	100%

EFFECTIVE DURATIONAs of 3/31/2013
Years	Percentage
0-1	20.40%
1-2	0.74%
2-3	10.69%
3-5	2.85%
5-7	26.10%
7-9	33.91%
9+	5.31%
TOTAL	100%

RISK MEASURES (3-Year)As of 3/31/2013
	FUND	BENCHMARK
STANDARD DEVIATION	2.10%	3.34%
ALPHA	2.88%	0.00%
BETA	0.48	1.00
EXCESS RETURN	0.43%	0.00%
R-SQUARED	57.66%	100.00%
TRACKING ERROR	2.22%	0.00%
INFORMATION RATIO	0.20	0.00
SHARPE RATIO	2.42	1.39

Source: Zephyr StyleAdvisor using Morningstar^TM and/or Lipper data.

SECTOR WEIGHTSAs of 3/31/2013
	FUND	BENCHMARK
CORPORATE	9.57%	-
GOVERNMENT RELATED	65.89%	11.52%
SECURITIZED	23.99%	-
TREASURY	-	88.49%
CASH AND CASH EQUIVALENTS	-0.02%	-
TOTAL	99%	100%

PERFORMANCE Average Annual Returns (%) for Period Ended 3/31/2013
	QTR	YTD	1 YEAR	3 YEARS	5 YEARS	10 YEARS	SINCE INCEPTION	INCEPTION DATE
A Shares (NAV)	-0.24	-0.24	2.46	4.89	n/a	n/a	5.78	12/31/2008
Barclays U.S. Government Index	-0.16	-0.16	3.01	5.04	n/a	n/a	3.26

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. Index reflects no deductions for fees or expenses. An investor cannot invest directly in an index. Visit www.calvert.com to obtain performance data current to the most recent month-end. Returns for periods of less than one year are not annualized.

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 market prices of bonds may fall; individual bonds in the Fund may not perform as expected; and/or the Fund’s portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. The Fund is nondiversified and may be more volatile than a diversified fund.

Net assets include all share classes.

Calvert funds are available at NAV for RIAs and Wrap Programs. Not all funds available at all firms.

G200ATT

FOR INSTITUTIONAL INVESTOR AND BROKER/DEALER USE ONLY. NOT FOR PUBLIC DISTRIBUTION.

Fund Profiles & Performance

Asset Allocation Funds

Money Market Funds

Equity Funds

Bond Funds

Get Information and Resources

For more information on any Calvert fund, please contact Calvert at 800.368.2748 for a free summary prospectus and/or prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The summary prospectus and prospectus contain this and other information. Read them carefully before you invest or send money.