Fund Evaluator:
Calvert Green Bond I (CGBIX)
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Fund Details
Calvert Green Bond I Overview
Calvert Green Bond I (CGBIX) is an actively managed Taxable Bond Intermediate Core Bond fund. Calvert Research and Management launched the fund in 2013.
The investment seeks to maximize income, to the extent consistent with preservation of capital, primarily through investment in bonds. Under normal circumstances, the fund invests at least 80% of its net assets (including borrowings for investment purposes) in "green" bonds. Bonds include debt securities of any maturity. It typically invests at least 65% of its net assets in investment grade debt securities, as assessed at the time of purchase.
About Calvert Green Bond I (CGBIX)
There are 2 members of the management team with an average tenure of 11.72 years: 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: Bloomberg US Universal TR USD index with a weighting of 100% and ICE BofA Green Bond TR USD index with a weighting of 100%. Calvert Green Bond I has 200 securities in its portfolio. The top 10 holdings constitute 21.8% 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 Green Bond I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Calvert Green Bond I has 28.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 1.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.9% (64.1% domestic bond, 28.8% foreign bond and 0.0% convertible bond). Calvert Green Bond I has 6.1% of the portfolio in cash.
Assets Under Management
The fund has $688 million in total assets, which is below the $3 billion average for the Intermediate Core Bond 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.
CGBIX 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 Green Bond I expense ratio is average compared to funds in the Intermediate Core Bond category. Calvert Green Bond I has an expense ratio of 0.48%, which is 15% lower than its category average, making the fund expense ratio grade a C. 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 Green Bond I has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.
Recently, in the month of July 2026, Calvert Green Bond I returned -1.2%, which earned it a grade of A, as the Intermediate Core Bond category had an average return of -1.3%. 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 Green Bond I has a trailing yield of 3.83%, which is below the 4.04% category average. The fund normally distributes its income monthly 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 Green Bond I Grades
Year to date, the fund has returned -0.5%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 2.6% over the past year (grade of C), 4.3% over the past three years (grade of A) and -0.0% per year over the past five years (grade of A) and 1.7% per year over the past 10 years (grade of A).
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CGBIX 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 |
|
| CGBIX Return (NAV) | -1.2% | -0.7% | 2.6% | 4.3% | -0.0% | 1.7% |
| CGBIX Grade | A | A | C | A | A | A |
| +/- Category | 0.1% | 0.1% | 0.1% | 0.6% | 0.5% | 0.4% |
| Intermediate Core Bond Avg | -1.3% | -0.8% | 2.5% | 3.7% | -0.5% | 1.4% |
| CGBIX Tax Cost Ratio | na | na | 1.5% | 1.5% | 1.3% | 1.1% |
CGBIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CGBIX Return (NAV) | -0.5% | 7.4% | 2.0% | 6.9% | -12.8% | -1.7% | 7.2% | 8.3% | 0.7% | 3.4% | 4.1% |
| CGBIX Grade | B | B | B | A | B | C | D | C | A | C | A |
| +/- Category | 0.2% | 0.4% | 0.4% | 1.3% | 0.4% | -0.2% | -0.9% | -0.1% | 1.1% | -0.2% | 1.3% |
| Intermediate Core Bond Avg | -0.7% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 5.1% |
| Total Risk Index: | 0.41 - Low |
| Category Risk Index: | 0.91 - Low |
| Category Risk Grade: | A (9% Rank) |
| Beta: | 0.89 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $799 Mil |
| Fund Total Assets: | $ 689 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 22% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.8 years | |||
| Average Tenure: 11.7 years | |||
| Managers (Year): Khanduja Vishal (2013), Ellis Brian (2015) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 200 |
| % in Top 10 Holdings: | 21.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 28.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.0% |
| Domestic Bond: | 64.1% |
| Foreign Bond: | 28.8% |
| Convertible Bond: | 0.0% |
| 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: | October 31, 2013 |
| 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 (%): | 0.48% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Calvert Green Bond I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
