ETF Evaluator:
Calvert US Large-Cp Div, Eq AndIncETF ()
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(as of Aug 26)
Best Performing in Large Blend Over the Last Year
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ETF Details
Calvert US Large-Cp Div, Eq AndIncETF Overview
Calvert US Large-Cp Div, Eq AndIncETF (CDEI) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). Calvert ETFs launched the ETF in 2023.
The investment seeks to track the performance of the Calvert U.S. Large-Cap Diversity Research Index.
Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities included in the underlying index. The index is composed of common stocks of large companies that operate their businesses in a manner consistent with the calvert principles for Responsible Investment and are selected from the universe of the 1,000 largest publicly traded U.S. companies based on market capitalization, excluding business development companies. The fund is non-diversified.
About Calvert US Large-Cp Div, Eq AndIncETF (CDEI)
There are 2 members of the management team with an average tenure of 1.70 years: Gordon Wotherspoon (2025) and Jennifer Mihara (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Calvert US LC Diversity TR USD index with a weighting of 100%. Calvert US Large-Cp Div, Eq AndIncETF has 236 securities in its portfolio. The top 10 holdings constitute 47.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
Calvert US Large-Cp Div, Eq AndIncETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Calvert US Large-Cp Div, Eq AndIncETF has 0.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.4% There is 0.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Calvert US Large-Cp Div, Eq AndIncETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $18 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CDEI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Calvert US Large-Cp Div, Eq AndIncETF expense ratio is low compared to funds in the Large Blend category. Calvert US Large-Cp Div, Eq AndIncETF has an expense ratio of 0.14%, which is 66% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Calvert US Large-Cp Div, Eq AndIncETF has a portfolio turnover rate of 37%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Calvert US Large-Cp Div, Eq AndIncETF returned 0.4%, which earned it a grade of B, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Calvert US Large-Cp Div, Eq AndIncETF has a trailing yield of 0.98%, which is below the 1.16% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Calvert US Large-Cp Div, Eq AndIncETF Grades
Year to date, the ETF has returned 11.1%, 1.6 percentage points better than the category, which translates into a grade of B. The fund has returned 22.0% over the past year (grade of A) and 17.4% over the past three years (grade of C).
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CDEI Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CDEI Return (NAV) | 0.4% | 6.5% | 22.0% | 17.4% | na | na |
| CDEI Return (Price) | 1.4% | 6.6% | 22.4% | 17.5% | na | na |
| NAV +/- Price Return | -1.006% | -0.059% | -0.327% | -0.112% | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| CDEI Grade (NAV) | B | A | A | C | na | na |
| +/- Category (NAV) | 1.3% | 2.8% | 4.5% | -0.0% | na | na |
| CDEI Tax-Cost Ratio | na | na | 0.4% | 0.5% | na | na |
CDEI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CDEI Return (NAV) | 11.1% | 16.4% | 18.7% | na | na | na | na | na | na | na | na |
| CDEI Return (Price) | 11.2% | 16.6% | 18.7% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.008% | 0.013% | -0.004% | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| CDEI Grade (NAV) | B | C | D | na | na | na | na | na | na | na | na |
| +/- Category | 1.6% | 1.0% | -3.2% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.97 |
| R-Squared: | 95% |
| Standard Deviation: | 13.0% |
| Category Risk Index: | 0.96 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.06 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 18 Mil |
| Share Class Assets: | $ 18 Mil |
| Turnover: | 37.0% |
| Expense Ratio: | 0.14% |
| Index Fund: | Yes |
| Index Tracked: | Russell 1000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.1 years | |||
| Average Tenure: 1.7 years | |||
| Managers (Year): Mihara Jennifer (2024), Wotherspoon Gordon (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 236 |
| % in Top 10 Holdings: | 47.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.3% |
Portfolio Allocation |
|
| Domestic Stock: | 99.4% |
| Foreign Stock: | 0.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Calvert ETFs |
| Phone Number: | 800-836-2414 |
| Website: | |
| Inception Date: | January 30, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.14% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
