Fund Evaluator:
Calvert International Opportunities R6 (COIRX)
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Best Performing in Foreign Small/Mid Growth Over the Last Year
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Fund Details
Calvert International Opportunities R6 Overview
Calvert International Opportunities R6 (COIRX) is an actively managed International Equity Foreign Small/Mid Growth fund. Calvert Research and Management launched the fund in 2019.
The investment seeks long-term capital appreciation. The fund invests primarily in common and preferred stocks of non-U.S. small-cap to mid-cap companies, which it defines as companies whose market capitalization falls within the range of the Morgan Stanley Capital International ("MSCI") Europe, Australasia and Far East ("EAFE") Small-Mid ("SMID") Index. It invests no more than 20% of its net assets in U.S. companies (excluding High Social Impact). The fund may enter into foreign currency derivatives to seek to hedge foreign currency exposure.
About Calvert International Opportunities R6 (COIRX)
There are 2 members of the management team with an average tenure of 2.08 years: Allen Mayer (2024), Bradley Powell (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and MSCI EAFE SMID NR USD index with a weighting of 100%. Calvert International Opportunities R6 has 89 securities in its portfolio. The top 10 holdings constitute 19.7% 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 International Opportunities R6 is part of the Equity global asset class and is within the International Equity fund group. Calvert International Opportunities R6 has 98.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.8%. There is 98.7% 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 International Opportunities R6 has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $21 million in total assets, which is below the $325 million average for the Foreign Small/Mid Growth 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.
COIRX 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 International Opportunities R6 expense ratio is high compared to funds in the Foreign Small/Mid Growth category. Calvert International Opportunities R6 has an expense ratio of 0.99%, which is 19% 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 International Opportunities R6 has a portfolio turnover rate of 36%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Foreign Small/Mid Growth category.
Recently, in the month of August 2026, Calvert International Opportunities R6 returned 3.2%, which earned it a grade of D, as the Foreign Small/Mid Growth category had an average return of 4.3%. 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 International Opportunities R6 has a trailing yield of 3.18%, which is above the 1.38% category average. The fund normally distributes its income 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 International Opportunities R6 Grades
Year to date, the fund has returned 11.7%, 0.4 percentage points better than the category, which translates into a grade of B. The fund has returned 10.9% over the past year (grade of C), 10.5% over the past three years (grade of D) and 0.5% per year over the past five years (grade of C) and 7.2% per year over the past 10 years (grade of C).
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COIRX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| COIRX Return (NAV) | 3.2% | 3.6% | 10.9% | 10.5% | 0.5% | 7.2% |
| COIRX Grade | D | B | C | D | C | C |
| +/- Category | -1.1% | 3.7% | -1.0% | -2.4% | -0.0% | 0.0% |
| Foreign Small/Mid Growth Avg | 4.3% | -0.1% | 11.8% | 12.9% | 0.5% | 7.2% |
| COIRX Tax Cost Ratio | na | na | 1.1% | 1.0% | 1.1% | na |
COIRX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| COIRX Return (NAV) | 11.7% | 13.9% | -1.4% | 13.1% | -26.6% | 14.0% | 14.1% | 26.2% | -14.6% | 38.5% | 1.0% |
| COIRX Grade | B | D | D | C | B | B | F | C | B | B | B |
| +/- Category | 0.4% | -7.0% | -2.3% | -0.4% | 2.0% | 4.1% | -11.3% | -1.5% | 1.6% | 3.2% | 1.6% |
| Foreign Small/Mid Growth Avg | 11.3% | 20.8% | 0.9% | 13.4% | -28.6% | 9.9% | 25.4% | 27.8% | -16.2% | 35.3% | -0.7% |
| Risk Measures | |
| Standard Deviation: | 16.0% |
| Total Risk Index: | 1.32 - Above Average |
| Category Risk Index: | 0.95 - Average |
| Category Risk Grade: | C (52% Rank) |
| Beta: | 1.07 |
| R-Squared: | 80% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 3.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $256 Mil |
| Fund Total Assets: | $ 22 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 36% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.6 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Mayer Allen (2024), Powell Bradley (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 89 |
| % in Top 10 Holdings: | 19.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.8% |
| Foreign Stock: | 98.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | Calvert Research and Management |
| Phone Number: | 800-368-2745 |
| Website: | www.calvert.com |
| Status: | Open |
| Inception Date: | February 1, 2019 |
| Min. Initial Purchase: | $5,000,000 |
| 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 (%): | 0.99% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Calvert International Opportunities I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
