At a glance
CVIE charges 0.18% a year, above the 0.09% average of the 7 funds most like it (the 7th cheapest of 8). It has $421.4M in assets, the 8th largest of that group; it paid 2.44% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +18.1% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds; over three years it returned +24.1% a year. Its ten largest positions make up 20.8% of the fund, out of 720 in all.
The short version
Calvert International Responsible Index ETF (CVIE) is an index fund that tracks the Calvert International Responsible Index. It held 720 large non-US companies as of June 30, 2026, chosen for how well they meet Calvert's environmental, social and governance (ESG) standards. Its 0.18% expense ratio is twice the 0.09% average of similar international funds. Calvert's own definition of a developed market also gives it sizable stakes in Taiwan and South Korea.
Price history
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CVIE +18.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CVIE official prospectus, to Dec 31, 2025 | — | +33.15% | — | — | — | +16.02% |
| MSCI World ex USA Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +31.85% | — | — | — | +14.95% |
| Calvert International Responsible Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +33.45% | — | — | — | +16.15% |
| CVIE price data to Oct 27, 2026 | +15.7% | +18.1% | +24.1% | — | — | +16.4% |
- Over the year to Oct 27, 2026, CVIE returned +18.1%, 1st of 8 among similar funds.
- Its worst full calendar year was 2024 (+5.4%); its best was 2025 (+33.2%).
- The deepest fall in its price history was 13.5% (Mar 5, 2025 to Apr 8, 2025), recovered by Apr 29, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +15.7% | — |
| 2025 | +33.2% | +33.15% |
| 2024 | +5.4% | +5.53% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0700 | |
| 2025 | $2.0200 | +31.2% |
| 2024 | $1.5400 |
What's inside
As of Jun 30, 2026, the fund held 720 securities; the ten largest made up 20.76% of assets.
| Holding | Weight | |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 5.69% | |
| Samsung Electronics Co. Ltd. | 3.56% | |
| SK hynix, Inc. | 2.99% | |
| ASML Holding NV | 2.49% | |
| HSBC Holdings plc | 1.07% | |
| Roche Holding AG | 1.02% | |
| AstraZeneca plc | 1.01% | |
| Royal Bank of Canada | 1.00% | |
| Novartis AG | 1.00% | |
| Nestle SA | 0.93% | |
| Siemens AG | 0.90% | |
| Tokyo Electron Ltd. | 0.77% | |
| Mitsubishi UFJ Financial Group, Inc. | 0.75% | |
| Toronto-Dominion Bank (The) | 0.74% | |
| Schneider Electric SE | 0.71% |
By country
Japan 15.65%Taiwan 10.41%Canada 9.63%United Kingdom 9.2%South Korea 8.8%By asset type
Stocks 99.41%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $47.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +11.02%, +7.25%, +0.85%.
How it works
CVIE is passively managed. It tries to match the Calvert International Responsible Index, which is built and owned by Calvert Research and Management, an affiliate of the fund's adviser. The index starts with about 1,000 large companies outside the US. Generally that means the 500 largest tied to Europe and the 500 largest tied to other developed markets. Calvert uses its own test to decide which countries count as developed. That is why Taiwan (10.41%) and South Korea (8.8%) were among the fund's largest country weights as of June 30, 2026.
From that pool, Calvert keeps companies it judges to show leadership on ESG issues under its Calvert Principles. These cover areas such as resource efficiency, human rights and accountable governance. The remaining stocks are weighted by float-adjusted market value, meaning the value of shares actually available to trade. Weights are set by country and sector, within set limits. As of September 30, 2025, the index held 807 companies. It is rebuilt once a year and rebalanced every quarter.
The fund does not have to buy every stock in the index. It uses sampling: it holds a representative set of stocks, so its returns can drift further from the index than a fund that holds every stock. It may also lend out its securities and use currency forward contracts when it trades foreign stocks. Portfolio turnover was 11%.
What it really costs
- CVIE charges 0.18% a year, versus an average of 0.09% for the similar funds below (7th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $18 in the first year and $230 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CVIE | $18 | $58 | $101 | $230 |
In a retirement portfolio
It adds large non-US companies, led by Asian chipmakers and European drugmakers and banks, to portfolios that often lean heavily on US stocks.
CVIE launched on January 30, 2023, so it has no record from the 2008, 2020 or 2022 sell-offs. Its weakest calendar year so far was 2024, a 5.53% gain. Its worst quarter was a 6.9% loss in the last quarter of 2024. Its deepest price drop was 13.5%, from March 5 to April 8, 2025, and it had recovered by April 29, 2025. Stock funds can fall much further in a real bear market, so someone who has to sell shares in a bad year could face bigger losses than this short history shows. The fund's yield over the 12 months to October 27, 2026 was 2.44%, paid quarterly. In the SEC's standard example, its 0.18% expense ratio costs $18 in the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want broad international stocks screened through Calvert's ESG principles rather than a plain market-value index.
- Holders comfortable with heavy chip exposure: TSMC, Samsung, SK hynix and ASML were the four largest holdings as of June 30, 2026.
- Investors who value quarterly payouts from large foreign companies; the trailing 12-month yield was 2.44% as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: VEA charges 0.03% and SCHF 0.06%, compared with CVIE's 0.18%.
- Those who want a long track record; the fund launched in January 2023 and has not been through a full bear market.
- Investors who keep Taiwan and South Korea in a separate emerging-markets fund; here they were 10.41% and 8.8% of assets.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CVIE this fund | — | 0.18% | $421.4M | +18.1% | +24.1% |
| SCHF Schwab International Equity ETF | 68% | 0.06% | $69.68B | +17.7% | +20.4% |
| EFA iShares MSCI EAFE ETF | 63% | 0.32% | $77.98B | +13.5% | +18.2% |
| VEA Vanguard FTSE Developed Markets ETF | 63% | 0.03% | $316.42B | +16.8% | +21.7% |
| IEFA iShares Core MSCI EAFE ETF | 61% | 0.07% | $190.11B | +13.7% | +18.5% |
| VEU Vanguard FTSE All-World ex-US Index Fund | 56% | 0.04% | $95.84B | +13.4% | +20.6% |
| IXUS iShares Core MSCI Total International Stock… | 54% | 0.07% | $58.39B | +13.8% | +19.5% |
| VXUS Vanguard Total International Stock ETF | 52% | 0.05% | $645.86B | +12.9% | +20.3% |
Questions investors ask
What does CVIE invest in?
CVIE invests in large stocks outside the US that pass Calvert's ESG standards. As of June 30, 2026, it held 720 stocks. The largest were Taiwan Semiconductor Manufacturing (5.69%), Samsung Electronics (3.56%), SK hynix (2.99%) and ASML (2.49%). The ten biggest made up 20.76% of the fund. Japan was the largest country at 15.65%, followed by Taiwan, Canada, the United Kingdom, South Korea and Switzerland.
What's the difference between CVIE and SCHF?
Both hold large international stocks, and their holdings overlapped by 68%. The main differences are the ESG screen, cost and size. CVIE adds Calvert's ESG screen and charges 0.18%, while SCHF charges 0.06%. SCHF had $69.7 billion in net assets as of August 31, 2026, compared with CVIE's $421 million as of June 30, 2026. CVIE's one-year return was 18.1% as of October 27, 2026. SCHF's was 17.3% as of October 30, 2026.
Does CVIE pay dividends?
Yes. CVIE pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.99 per share, a yield of 2.44%. The payouts come from dividends paid by the foreign companies it owns, so the amount can change from one quarter to the next. Changes in exchange rates can also affect the amount, because the companies pay in their own currencies.
What is CVIE's expense ratio?
CVIE's expense ratio is 0.18%, according to the prospectus filed January 28, 2026. In the SEC's standard example ($10,000 invested, 5% annual return), that comes to about $18 after one year, $58 after three years, $101 after five and $230 after ten. That is twice the 0.09% average of similar funds. Of the eight funds compared, only iShares MSCI EAFE ETF (EFA) cost more, at 0.32%.
How has CVIE performed compared with other international index funds?
CVIE has done slightly better than its broad benchmark so far. In 2025 it returned 33.15%, compared with 31.85% for the MSCI World ex USA Index. From launch through December 31, 2025, it returned 16.02% a year, compared with the index's 14.95%. Its one-year and three-year returns ranked first among eight similar funds as of October 27, 2026. Its history is short, and the prospectus warns that ESG-screened funds can lag at times.