At a glance
CVLC charges 0.15% a year, above the 0.07% average of the 8 funds most like it (the 8th cheapest of 9). It has $869.0M in assets, the 7th largest of that group; it paid 0.93% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +13.6% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +24.6% a year. Its ten largest positions make up 35.1% of the fund, out of 759 in all.
The short version
Calvert US Large-Cap Core Responsible Index ETF (CVLC) tracks an index of roughly 700 to 800 large US companies that pass Calvert's environmental, social and governance (ESG) screens. Its holdings overlap about 79% with plain S&P 500 funds such as VOO. What sets it apart is the responsible-investing filter and its cost. Its 0.15% expense ratio is about double the 0.07% average of similar funds.
Price history
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CVLC +13.6% 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 | |
|---|---|---|---|---|---|---|
| CVLC official prospectus, to Dec 31, 2025 | — | +16.02% | — | — | — | +20.85% |
| Russell 1000 Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +17.37% | — | — | — | +21.38% |
| Calvert US Large-Cap Core Responsible Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +16.25% | — | — | — | +21.10% |
| CVLC price data to Oct 27, 2026 | +13.5% | +13.6% | +24.6% | — | — | +19.0% |
- Over the year to Oct 27, 2026, CVLC returned +13.6%, 1st of 9 among similar funds.
- Its worst full calendar year was 2025 (+16.1%); its best was 2024 (+24.2%).
- The deepest fall in its price history was 19.9% (Jan 23, 2025 to Apr 8, 2025), recovered by Jun 27, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +13.5% | — |
| 2025 | +16.1% | +16.02% |
| 2024 | +24.2% | +24.22% |
| 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) | $0.6000 | |
| 2025 | $0.8500 | +11.8% |
| 2024 | $0.7600 |
What's inside
As of Jun 30, 2026, the fund held 759 securities; the ten largest made up 35.15% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp. | 6.74% | |
| Apple, Inc. | 6.16% | |
| Alphabet, Inc. | 5.63% | |
| Microsoft Corp. | 4.00% | |
| Amazon.com, Inc. | 3.46% | |
| Broadcom, Inc. | 2.62% | |
| Micron Technology, Inc. | 2.02% | |
| Eli Lilly & Co. | 1.61% | |
| Advanced Micro Devices, Inc. | 1.51% | |
| JPMorgan Chase & Co. | 1.41% | |
| Intel Corp. | 0.99% | |
| Applied Materials, Inc. | 0.96% | |
| Visa, Inc. | 0.95% | |
| Lam Research Corp. | 0.90% | |
| Caterpillar, Inc. | 0.88% |
By country
United States 96.32%Ireland 2.71%Bermuda 0.21%Switzerland 0.14%Jersey 0.11%By asset type
Stocks 99.8%By sector
Sectors of the companies held, for the 82.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $44.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +11.83%, +5.51%, +0.31%.
How it works
The fund tracks the Calvert US Large-Cap Core Responsible Index. Calvert Research and Management owns and builds the index, and it is an affiliate of the fund's adviser. The starting pool is the 1,000 largest US public companies by market value, minus business development companies. Calvert keeps the companies it judges to be run in line with its Calvert Principles for Responsible Investment. These cover environmental sustainability, human rights and accountable governance. As of September 30, 2025, the index held 787 companies. It usually holds between 700 and 800.
Stocks are weighted by float-adjusted market value within their sector, subject to set limits. "Float-adjusted" means only shares available to the public are counted. Big companies therefore get big weights. As of June 30, 2026, NVIDIA was 6.7% of assets, Apple 6.2% and Alphabet 5.6%, and the top 10 holdings made up about 35%. The index has been concentrated in information technology. Holdings are reset once a year and reweighted every quarter. Portfolio turnover was 7%.
The fund aims to own every stock in the index in about the same proportions, and it may lend out its shares. It uses no leverage or options. As of December 31, 2025, the fund returned 20.85% a year since launch, against 21.1% for its index. The gap reflects fees and trading costs.
What it really costs
- CVLC charges 0.15% a year, versus an average of 0.07% for the similar funds below (8th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $15 in the first year and $192 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CVLC | $15 | $48 | $85 | $192 |
In a retirement portfolio
It spreads money across about 760 large US companies with a broad-market weighting, adding an ESG screen on top.
CVLC could serve as the US stock core of a portfolio for investors who want a responsible-investing filter. Its record is short. It launched on January 30, 2023, so it has no history through the 2008, 2020 or 2022 downturns. Its deepest drop was 19.9%, from January 23 to April 8, 2025, and it recovered by June 27, 2025, about 2.6 months later. It has not had a losing calendar year so far. Its weakest year was 2025, when it rose 16%. Anyone who may need to sell shares in a bad year should expect falls similar to the broad market's. Its one-year beta was 1.03, meaning it has moved almost in step with the market. The yield was 0.93% as of October 27, 2026, paid quarterly, so income is modest. 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 wanting large US companies picked under the Calvert Principles, an environmental, social and governance (ESG) framework, across 759 holdings as of June 30, 2026.
- Hands-off investors wanting a passive fund holding every index stock, with little trading (7% turnover) and $15 first-year costs per $10,000 (SEC example).
- Investors comfortable with stock-market swings and a short record: since its January 2023 launch, the worst drop was 19.9%, recovered in about 2.6 months.
Look elsewhere if
- Cost-focused investors: the 0.15% annual expense ratio compares with 0.08% for ESG-screened iShares XVV and 0.03% for Vanguard's VOO.
- Retirees relying on dividends for spending: the dividend yield over the past year was 0.93% as of October 27, 2026, paid quarterly.
- Investors expecting ESG screening to avoid big tech: NVIDIA, Apple and Alphabet led holdings, and technology was 34.2% of assets as of June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CVLC this fund | — | 0.15% | $869.0M | +13.6% | +24.6% |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF | 79% | 0.2% | $2.74B | +12.6% | +24.8% |
| SPY SPDR S&P 500 ETF Trust | 79% | 0.0945% | $781.19B | +11.5% | +21.9% |
| SPYM SPDR Portfolio S&P 500 ETF | 79% | 0.02% | $153.92B | +11.5% | +22.0% |
| IVV iShares Core S&P 500 ETF | 79% | 0.03% | $888.13B | +11.5% | +22.0% |
| USPX Franklin U.S. Equity Index ETF | 79% | 0.03% | $1.98B | +12.9% | +24.9% |
| VOO Vanguard S&P 500 ETF | 79% | 0.03% | $1.67T | +12.4% | +23.6% |
| XVV iShares ESG Select Screened S&P 500 ETF | 79% | 0.08% | $644.9M | +12.4% | +24.9% |
Questions investors ask
What's the difference between CVLC and XVV?
Both screen large US companies on ESG criteria, but they use different indexes. CVLC tracks Calvert's own index, which starts from the 1,000 largest US companies and held about 760 stocks as of June 30, 2026. iShares ESG Select Screened S&P 500 ETF (XVV) is built from the S&P 500. XVV costs less, at 0.08% a year versus 0.15%. Their three-year price returns were close as of October 27, 2026: 24.6% a year for CVLC and 24.9% for XVV.
Is CVLC more expensive than VOO?
Yes. CVLC's expense ratio is 0.15%, versus 0.03% for Vanguard S&P 500 ETF (VOO). In the SEC's standard example ($10,000 invested, 5% annual return), CVLC's costs come to $192 over 10 years. Among nine similar funds, CVLC ranks 8th on cost, and the group's average expense ratio is 0.07%. About 79% of CVLC's holdings overlap with VOO's. Whether the ESG screen is worth the higher fee is a personal call.
Does CVLC pay dividends?
Yes, it pays quarterly. Over the 12 months to October 27, 2026, it paid $0.88 per share, for a yield of 0.93%. That is modest income, because the fund is weighted toward large technology companies rather than chosen for dividends. Investors who rely on their stock holdings for regular cash may find the yield low and may want to compare it with dividend-focused funds.
What are CVLC's top holdings?
As of June 30, 2026, its largest holdings were NVIDIA (6.7%), Apple (6.2%), Alphabet (5.6%), Microsoft (4.0%), Amazon (3.5%) and Broadcom (2.6%). The top 10 made up about 35% of assets, across 759 holdings in total. Technology was the largest sector, at roughly a third of the portfolio. Energy was just 0.1%. About 96% of assets were in US-based companies.
How has CVLC performed since launch?
CVLC returned 20.85% a year from its January 2023 launch through December 31, 2025. Over the same period its index returned 21.1% and the Russell 1000 returned 21.38%. The fund gained 24.22% in 2024 and 16.02% in 2025. As of October 27, 2026, it was up 13.5% for the year to date and 13.6% over one year. Its biggest drop was 19.9%, in early 2025. Past returns don't predict future results.