Overview

Historical Returns (%) as of Dec 31, 2022

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.
 

Fund Facts as of Dec 31, 2022

Class R6 Inception 02/01/2019
Performance Inception 10/01/2004
Investment Objective Long-term capital appreciation
Total Net Assets $2.6B
Minimum Investment $5000000
Expense Ratio2 0.86%
CUSIP 13161P672

Top 10 Holdings (%)3,4 as of Dec 31, 2022

CBIZ Inc 3.08
Chemed Corp 2.88
Essential Properties Realty Trust Inc 2.46
RLI Corp 2.39
AAON Inc 2.36
Dorman Products Inc 2.33
Addus HomeCare Corp 2.32
Ryan Specialty Holdings Inc 2.27
Minerals Technologies Inc 2.27
Commerce Bancshares Inc/MO 2.18
Total 24.56
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Portfolio characteristics exclude 1 security in Calvert's High Impact Investments program, which represented 0.092% of the portfolio as of 12/31/2022. The Special Equities program enables the Fund to promote approaches to responsible investment goals through privately placed investments. 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.

RISK CONSIDERATIONS 

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.


Performance

Historical Returns (%) as of Dec 31, 2022

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.
 

Calendar Year Returns (%)

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Fund at NAV 26.37 15.02 20.04 -15.83
Russell 2000® Index1 38.82 4.89 -4.41 21.31 14.65 -11.01 25.52 19.96 14.82 -20.44
 

Fund Facts

Expense Ratio2 0.86%
Class R6 Inception 02/01/2019
Performance Inception 10/01/2004
Distribution Frequency Annually

Risk Measures (3 Year)6 as of Dec 31, 2022

Alpha (%) 2.28
Beta 0.78
Information Ratio 0.23
R-Squared (%) 89.92
Standard Deviation (%) 21.65
Sharpe Ratio 0.20
 

NAV History

Date NAV NAV Change
Jan 27, 2023 $32.36 $0.16
Jan 26, 2023 $32.20 $0.17
Jan 25, 2023 $32.03 -$0.03
Jan 24, 2023 $32.06 -$0.10
Jan 23, 2023 $32.16 $0.40
Jan 20, 2023 $31.76 $0.39
Jan 19, 2023 $31.37 -$0.11
Jan 18, 2023 $31.48 -$0.42
Jan 17, 2023 $31.90 -$0.11
Jan 13, 2023 $32.01 $0.34
 

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 15, 2022 $0.09140 $30.03
Dec 07, 2021 $0.06130 $35.39
Dec 08, 2020 $0.05120 $31.23
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 History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 15, 2022 $0.39230 $30.03
Dec 07, 2021 $1.19310 $1.25900 $35.39
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 1 security in Calvert's High Impact Investments program, which represented 0.092% of the portfolio as of 12/31/2022. The Special Equities program enables the Fund to promote approaches to responsible investment goals through privately placed investments. 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.

RISK CONSIDERATIONS 

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.


Portfolio

Asset Mix (%)4 as of Dec 31, 2022

Portfolio Statistics as of Dec 31, 2022

Number of Holdings 68
 

GICS Sector Breakdown (%)4 as of Dec 31, 2022

Assets by Country (%)4 as of Dec 31, 2022

United States 97.65
United Kingdom 1.90
Cash & Other Assets 0.45
Total 100.00
 

Fund Holdings (%)4,8 as of Nov 30, 2022

Holding % of Net Assets
CBIZ Inc 3.06%
Performance Food Group Co 3.05%
Chemed Corp 2.75%
Commerce Bancshares Inc/MO 2.54%
SouthState Corp 2.50%
Addus HomeCare Corp 2.41%
AAON Inc 2.33%
Dorman Products Inc 2.31%
Essential Properties Realty Trust Inc 2.28%
ONE Gas Inc 2.27%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Portfolio characteristics exclude 1 security in Calvert's High Impact Investments program, which represented 0.092% of the portfolio as of 12/31/2022. The Special Equities program enables the Fund to promote approaches to responsible investment goals through privately placed investments. 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.

RISK CONSIDERATIONS 

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.


Management

Michael D. McLean, CFA

Michael D. McLean, CFA

Managing Director, Co-Head of US Small/Mid Cap
Joined Calvert Research and Management 2016

Biography

Mike is a managing director of Morgan Stanley. He is Co-Head of the Eaton Vance U.S. Small/Midcap team and a portfolio manager. He is responsible for buy and sell decisions, portfolio construction and risk management for U.S. small- and midcap equity portfolios as well as coverage of the consumer discretionary and consumer staples sectors. He is also a vice president and portfolio manager for Calvert Research and Management. He began his career in the investment management industry with Eaton Vance in 2001. Morgan Stanley acquired Eaton Vance in March 2021.

Mike earned a B.S. from Providence College. He is a CFA charterholder and holds both the CFA Institute Certificate in ESG Investing and the Fundamentals of Sustainability Accounting FSA Credential.

Education
  • B.S. Providence College

Experience
  • Managed Fund since 2016

 
J. Griffith Noble, CFA

J. Griffith Noble, CFA

Managing Director, Co-Head of US Small/Mid Cap
Joined Calvert Research and Management 2016

Biography

Griff is a managing director of Morgan Stanley. He is Co-Head of the Eaton Vance U.S. Small/Midcap team and a portfolio manager. He is responsible for buy and sell decisions, portfolio construction and risk management for U.S. small- and midcap equity portfolios as well as coverage of the energy and industrials sectors. He is also a vice president and portfolio manager for Calvert Research and Management. He joined Eaton Vance in 2012. Morgan Stanley acquired Eaton Vance in March 2021.

Griff began his career in the investment management industry in 1996. Before joining Eaton Vance, he was an equity analyst with BlackRock, Inc. He was previously affiliated with Byram Capital Management, Emerson Investment Management, Deutsche Asset Management and Putnam Investments.

Griff earned a B.S. from the University of Vermont and an MBA from Babson College. He is a member of CFA Society Boston and is a CFA charterholder.

Education
  • B.S. University of Vermont
  • M.B.A. Babson College

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Sep 30, 2022

Commentary/Attribution

Download Commentary/Attribution - Last updated: Dec 31, 2022

Annual Report

Download Annual Report - Last updated: Sep 30, 2022

Full Prospectus

Download Full Prospectus - Last updated: Feb 1, 2022

Q1 Holdings

Download Q1 Holdings - Last updated: Dec 31, 2021

Q3 Holdings

Download Q3 Holdings - Last updated: Jun 30, 2022

Results of Joint Special Meeting of Shareholders of Calvert Funds

Download Results of Joint Special Meeting of Shareholders of Calvert Funds - Last updated: Feb 23, 2021

Joint Special Meeting of Shareholders of Calvert Funds on February 19, 2021 Will Be A Virtual Meeting

Download Joint Special Meeting of Shareholders of Calvert Funds on February 19, 2021 Will Be A Virtual Meeting - Last updated: Feb 8, 2021

SAI

Download SAI - Last updated: Feb 1, 2022

Semi-Annual Report

Download Semi-Annual Report - Last updated: Mar 31, 2022

Summary Prospectus

Download Summary Prospectus - Last updated: Feb 1, 2022