Calvert for Institutional Investors
Variable Insurance Product Yields

Fund Yields

Fund 30-Day SEC Yield (%)
(Subsidized)
30-Day SEC Yield (%)
(Unsubsidized)
12 Mth Distribution Yield (%)
(Max Sales Charge)
12 Mth Distribution Yield (%)
(No Charge)
  as of 3/31/2014 as of 4/16/2014
Calvert Bond Portfolio-A Shares (CSIBX) 2.12 2.12 2.18 2.26
Calvert Bond Portfolio-B Shares (CBDBX) 1.10 0.36 1.24 1.24
Calvert Bond Portfolio-C Shares (CSBCX) 1.41 1.41 1.46 1.46
Calvert Bond Portfolio-I Shares (CBDIX) 2.80 2.80 2.83 2.83
Calvert Bond Portfolio-Y Shares (CSIYX) 2.46 2.46 2.55 2.55
Calvert Government Fund-A Shares (CGVAX) 1.08 0.75 1.03 1.07
Calvert Government Fund-C Shares (CGVCX) 0.14 0.05 0.06 0.06
Calvert Government Fund-I Shares (CVGIX) 1.43 1.35 1.37 1.37
Calvert Green Bond Fund-A Shares (CGAFX) 1.12 0.68 n/a n/a
Calvert Green Bond Fund-I Shares (CGBIX) 1.58 1.17 n/a n/a
Calvert Green Bond Fund-Y Shares (CGYFX) 1.43 -5.15 n/a n/a
Calvert High Yield Bond Fund-A Shares (CYBAX) 3.75 3.50 4.81 4.99
Calvert High Yield Bond Fund-C Shares (CHBCX) 2.90 2.70 4.09 4.09
Calvert High Yield Bond Fund-I Shares (CYBIX) 4.23 4.09 5.32 5.32
Calvert High Yield Bond Fund-Y Shares (CYBYX) 4.15 3.88 5.23 5.23
Calvert Income Fund-A Shares (CFICX) 2.33 2.33 2.64 2.74
Calvert Income Fund-B Shares (CBINX) 1.60 1.46 1.99 1.99
Calvert Income Fund-C Shares (CIFCX) 1.70 1.70 2.07 2.07
Calvert Income Fund-I Shares (CINCX) 2.98 2.98 3.39 3.39
Calvert Income Fund-R Shares (CICRX) 2.13 1.85 2.56 2.56
Calvert Income Fund-Y Shares (CIFYX) 2.72 2.72 3.14 3.14
Calvert Long-Term Income Fund-A Shares (CLDAX) 3.23 3.15 3.24 3.37
Calvert Short Duration Income Fund-A Shares (CSDAX) 1.24 1.21 1.87 1.92
Calvert Short Duration Income Fund-C Shares (CDICX) 0.58 0.58 1.18 1.18
Calvert Short Duration Income Fund-I Shares (CDSIX) 1.89 1.89 2.43 2.43
Calvert Short Duration Income Fund-Y Shares (CSDYX) 1.61 1.61 2.24 2.24
Calvert Tax-Free Bond Fund-A Shares (CTTLX) 1.99 1.99 3.29 3.42
Calvert Ultra-Short Income Fund-A Shares (CULAX) 0.61 0.36 0.62 0.63
Calvert Ultra-Short Income Fund-Y Shares (CULYX) 0.73 0.73 0.84 0.84
Calvert VP Income Portfolio-I Shares 2.29 1.95 3.03 3.03
Calvert VP Investment Grade Bond Index Portfolio-I Shares 2.04 2.04 2.39 2.39

Important Performance Disclosure

The 30-Day SEC Yield is a standardized measure of the current market yield on the Fund’s portfolio and is calculated by dividing the net investment income per share earned during the 30-day period by the maximum offering price per share on the last day of the period. For funds that have a contractual fee waiver and/or expense reimbursement in effect, the fund also displays the higher subsidized yield, which accounts for the effect of the waiver and/or reimbursement . The 12-month Distribution Yield takes all the interest payments made by the fund over the last 12 months, and divides it by the sum of (i) the Fund’s NAV on the last day of the period, and (ii) any capital gains distributions that were made during that period. The 30-Day SEC Yield reflects the rate at which the Fund is earning income on its current portfolio of securities, while the 12-month Distribution yield reflects the Fund's past dividends paid to shareholders.

I202 (4/09)