Fund Evaluator:
Calvert Balanced I (CBAIX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
Calvert Balanced I Overview
Calvert Balanced I (CBAIX) is an actively managed Allocation Moderate Allocation fund. Calvert Research and Management launched the fund in 1999.
The investment seeks to achieve a competitive total return through an actively managed portfolio of stocks, bonds, and money market instruments which offer income and capital growth opportunity. Under normal market conditions, the fund invests between 50% and 75% of its net assets in equity securities and between 25% and 50% of its net assets in fixed-income securities. Stock investments are primarily common stock of large-cap companies. Fixed-income investments are primarily a wide variety of investment grade debt securities.
About Calvert Balanced I (CBAIX)
There are 3 members of the management team with an average tenure of 11.27 years: Charles Gaffney (2016), Vishal Khanduja (2013), Brian Ellis (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Calvert Balanced I has 617 securities in its portfolio. The top 10 holdings constitute 36.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Calvert Balanced I is part of the Allocation global asset class and is within the Allocation fund group. Calvert Balanced I has 5.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 60.3%. There is 1.6% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 31.9% (28.2% domestic bond, 3.7% foreign bond and 0.1% convertible bond). Calvert Balanced I has 6.1% of the portfolio in cash.
Assets Under Management
The fund has $333 million in total assets, which is below the $2 billion average for the Moderate Allocation 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.
CBAIX 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 Balanced I expense ratio is above average compared to funds in the Moderate Allocation category. Calvert Balanced I has an expense ratio of 0.65%, which is 35% lower than its category average, making the fund expense ratio grade a B. 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 Balanced I has a portfolio turnover rate of 164%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of July 2026, Calvert Balanced I returned -0.0%, which earned it a grade of B, as the Moderate Allocation category had an average return of -0.3%. 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 funds in that category.
Calvert Balanced I has a trailing yield of 1.48%, which is below the 1.97% 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 Balanced I Grades
Year to date, the fund has returned 3.7%, 2.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 9.2% over the past year (grade of F), 13.1% over the past three years (grade of B) and 7.3% per year over the past five years (grade of B) and 9.6% per year over the past 10 years (grade of B).
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CBAIX 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 |
|
| CBAIX Return (NAV) | -0.0% | 1.4% | 9.2% | 13.1% | 7.3% | 9.6% |
| CBAIX Grade | B | F | F | B | B | B |
| +/- Category | 0.3% | -0.8% | -3.9% | 1.1% | 0.7% | 1.1% |
| Moderate Allocation Avg | -0.3% | 2.1% | 13.1% | 12.0% | 6.6% | 8.5% |
| CBAIX Tax Cost Ratio | na | na | 1.4% | 1.3% | 1.4% | 1.4% |
CBAIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CBAIX Return (NAV) | 3.7% | 11.6% | 19.3% | 16.7% | -15.1% | 14.6% | 15.7% | 24.1% | -2.5% | 11.9% | 8.2% |
| CBAIX Grade | F | D | A | B | C | C | B | A | A | D | B |
| +/- Category | -2.7% | -1.8% | 7.0% | 2.3% | -1.2% | 0.2% | 2.8% | 4.2% | 2.6% | -1.9% | 0.4% |
| Moderate Allocation Avg | 6.4% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 9.6% |
| Total Risk Index: | 0.78 - Below Average |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (78% Rank) |
| Beta: | 0.89 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.5% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1460 Mil |
| Fund Total Assets: | $ 333 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 164% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 13.5 years | |||
| Average Tenure: 11.3 years | |||
| Managers (Year): Khanduja Vishal (2013), Ellis Brian (2015), Gaffney Charles (2016) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 617 |
| % in Top 10 Holdings: | 36.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.3% |
Portfolio Allocation |
|
| Domestic Stock: | 60.3% |
| Foreign Stock: | 1.6% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 28.2% |
| Foreign Bond: | 3.7% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 6.1% |
Purchase Information
| Fund Family: | Calvert Research and Management |
| Phone Number: | 800-368-2745 |
| Website: | www.calvert.com |
| Status: | Open |
| Inception Date: | February 26, 1999 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Calvert Balanced A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
