Overview

Historical Returns (%) as of Dec 31, 2020

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc. The share class has no sales charge.
 

Fund Facts as of Dec 31, 2020

Class I Inception 06/03/2003
Performance Inception 10/31/1994
Investment Objective Long-term capital appreciation
Total Net Assets $272.6M
Minimum Investment $250000
Expense Ratio (Gross)2 1.05%
Expense Ratio (Net)2,3 0.93%
CUSIP 131649709

Top 10 Holdings (%)4,5 as of Sep 30, 2020

Black Knight Inc 2.49
ANSYS Inc 2.46
Broadridge Financial Solutions Inc 2.34
Xcel Energy Inc 2.24
Electronic Arts Inc 2.15
Stanley Black & Decker Inc 2.13
Agilent Technologies Inc 2.11
IHS Markit Ltd 2.10
Cognizant Technology Solutions Corp 2.02
Terminix Global Holdings Inc 1.97
Total 22.00
 

Portfolio Management

Charles Gaffney Managed Fund since 2016

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Portfolio characteristics exclude 3 securities in Calvert's High Impact Investments program, which represented 1.523% of the portfolio as of 09/30/2019. High Social Impact Investments are investments that, in the Adviser’s opinion, offer the opportunity for significant sustainability and social impact. These investments are generally illiquid and involve high risks. See the Fund's prospectus for details and calvert.com for a complete list of Fund holdings.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Russell Midcap® Index is an unmanaged index of U.S. mid-cap stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Source: Fund prospectus.
3. Net Expense Ratio reflects a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, if applicable, performance would have been lower.
4. Top 10 Holdings excludes cash and equivalents.
5. Percent of total net assets.

Performance

Historical Returns (%) as of Dec 31, 2020

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc. The share class has no sales charge.
 

Calendar Year Returns (%)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fund at NAV 2.89 16.60 29.62 8.09 -3.19 6.83 12.14 -4.01 30.91 11.95
Russell Midcap® Index1 -1.55 17.28 34.76 13.22 -2.44 13.80 18.52 -9.06 30.54 17.10
 

Fund Facts

Expense Ratio (Gross)2 1.05%
Expense Ratio (Net)2,3 0.93%
Class I Inception 06/03/2003
Performance Inception 10/31/1994
Distribution Frequency Annually

Risk Measures (3 Year)7 as of Dec 31, 2020

Alpha (%) 1.95
Beta 0.84
Information Ratio 0.09
R-Squared (%) 97.17
Standard Deviation (%) 18.77
Sharpe Ratio 0.56
 

Morningstar Rating™ as of Dec 31, 2020

Time Period Rating Funds in
Mid-Cap Blend
Category
Overall 374
3 Years 374
5 Years 309
10 Years 215
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
 

NAV History

Date NAV NAV Change
Jan 15, 2021 $47.57 -$0.27
Jan 14, 2021 $47.84 $0.00
Jan 13, 2021 $47.84 -$0.11
Jan 12, 2021 $47.95 $0.29
Jan 11, 2021 $47.66 -$0.29
Jan 08, 2021 $47.95 $0.11
Jan 07, 2021 $47.84 $0.71
Jan 06, 2021 $47.13 $1.13
Jan 05, 2021 $46.00 $0.33
Jan 04, 2021 $45.67 -$0.71
 

Distribution History8

Ex-Date Distribution Reinvest NAV
Dec 08, 2020 $0.08480 $45.31
Dec 05, 2019 $0.09000 $40.84
Dec 07, 2018 $0.15720 $35.43
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History8

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 08, 2020 $0.32940 $45.31
Dec 05, 2019 $0.03980 $1.77960 $40.84
Dec 07, 2018 $1.02440 $0.99050 $35.43
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Portfolio characteristics exclude 3 securities in Calvert's High Impact Investments program, which represented 1.523% of the portfolio as of 09/30/2019. High Social Impact Investments are investments that, in the Adviser’s opinion, offer the opportunity for significant sustainability and social impact. These investments are generally illiquid and involve high risks. See the Fund's prospectus for details and calvert.com for a complete list of Fund holdings.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Russell Midcap® Index is an unmanaged index of U.S. mid-cap stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Source: Fund prospectus.
3. Net Expense Ratio reflects a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, if applicable, performance would have been lower.
6. The Morningstar Mid-Cap Blend Category includes funds that invest primarily in U.S. mid-cap companies where neither strong growth or value characteristics predominate.
7. Alpha measures risk-adjusted performance, showing excess return delivered at the same risk level as the benchmark. Beta measures the volatility of a fund relative to the overall market. R-Squared represents the percentage of the portfolio's movement that can be explained by the general movement of the market. Standard deviation measures the historic volatility of a fund. Sharpe Ratio uses standard deviation and excess return to determine reward per unit of risk.
8. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)5 as of Sep 30, 2020

Portfolio Statistics as of Sep 30, 2020

Number of Holdings 76
 

GICS Sector Breakdown (%)5 as of Sep 30, 2020

Assets by Country (%)5 as of Sep 30, 2020

United States 94.53
United Kingdom 3.04
Netherlands 1.15
Canada 0.79
Israel 0.10
Cash & Other Assets 0.40
Total 100.00
 

Fund Holdings (%)5,9 as of Nov 30, 2020

Holding % of Net Assets
Coca-Cola European Partners PLC 2.41%
IHS Markit Ltd 2.38%
Black Knight Inc 2.35%
Broadridge Financial Solutions Inc 2.34%
AMETEK Inc 2.31%
ANSYS Inc 2.28%
Zebra Technologies Corp 2.20%
Agilent Technologies Inc 2.19%
Stanley Black & Decker Inc 2.17%
Terminix Global Holdings Inc 2.09%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Portfolio characteristics exclude 3 securities in Calvert's High Impact Investments program, which represented 1.523% of the portfolio as of 09/30/2019. High Social Impact Investments are investments that, in the Adviser’s opinion, offer the opportunity for significant sustainability and social impact. These investments are generally illiquid and involve high risks. See the Fund's prospectus for details and calvert.com for a complete list of Fund holdings.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Russell Midcap® Index is an unmanaged index of U.S. mid-cap stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
5. Percent of total net assets.
9. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Management

Charles Gaffney

Charles Gaffney

Portfolio Manager

Biography

Charles Gaffney is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016.

Charlie began his career in the investment management industry in 1996. He has been affiliated with the Eaton Vance organization since 2003. Before joining the Eaton Vance organization, he was affiliated with Brown Brothers Harriman as a sector portfolio manager and Morgan Stanley Dean Witter as a senior equity analyst.

Charlie earned a B.A. from Bowdoin College in 1995 and an MBA from Fordham University.

Education
  • B.A. Bowdoin College
  • M.B.A. Graduate School of Business, Fordham University

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2020

Commentary

Download - Last updated: Sep 30, 2019

Attribution

Download - Last updated: Sep 30, 2019

Annual Report

Download - Last updated: Sep 30, 2020

Full Prospectus

Download - Last updated: Feb 1, 2020

Q1 Holdings

Download - Last updated: Dec 31, 2019

Q3 Holdings

Download - Last updated: Jun 30, 2020

Holdings - Form N-PORT

Download

Proxy Statement

Download - Last updated: Dec 30, 2020

SAI

Download - Last updated: Feb 1, 2020

Semi-Annual Report

Download - Last updated: Mar 31, 2020

Summary Prospectus

Download - Last updated: Feb 1, 2020