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Sustainable, Responsible and Impact Mutual Fund and ETF Chart

Jump to: General Fund Information | Fund Institution Information | Account Minimums | Methodology | Proxy Voting Information | Specific Screening Information by Category | Performance Data

General Fund Information - [Return to Top]

Ticker: CBAIX

Assets under management (AUM): $1200M (in US$ millions) - See other performance data below

General Fund Type: Balanced Funds

Specific Sizes or Types of Investments: Between 50% and 75% of its net assets in equity securities and 25% and 50% of its net assets in fixed-income securities. The equity portion is primarily large-cap U.S. stocks. The fixed-income portion is primarily a variety of investment-grade debt

Financial Objective: The Fund 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.

Specific ESG Focus: Calvert Research and Management (Calvert) is a global leader in Responsible Investing. Calvert sponsors one of the largest and most diversified families of responsibly invested mutual funds, encompassing active and passively managed equity, income, alternative and multi-asset strategies. With roots in Responsible Investing back to 1982, the firm seeks to generate favorable investment returns for clients by allocating capital consistent with environmental, social and governance best practices and through structured engagement with portfolio companies. Headquartered in Washington, D.C., Calvert manages assets on behalf of funds, individual and institutional separate account clients, and their advisors. For more information, visit calvert.com. Responsible Investing is at the heart of everything Calvert does. Calvert believes that companies and issuers do not operate solely within the financial system that informs traditional investment management research. Instead, Calvert believes companies are parts of complex ecosystems that are impacted by ESG issues. At the same time companies’ operations, products and services impact the environment and society. As responsible investors Calvert believes we must understand financially material ESG issues that affect companies to enhance investment decision making as well as improve environmental and social outcomes through its allocation of capital. As a purpose driven investment management organization, Calvert has two primary goals: Provide opportunities for long term value creation for Calvert’s clients –Calvert focuses on identifying the financially material ESG issues that impact companies. These are issues that it can demonstrate impact a company’s value, operating performance or relationship with its stakeholders. Calvert integrates this research and information into the decision-making processes across all of Calvert’s investment strategies to provide a broader, holistic view of companies and issuers. The Firm’s experience indicates that companies and issuers that manage financially material ESG issues well outperform companies that do not over the long term. As a result, Calvert believes that understanding financially material ESG issues and identifying better performing ESG companies is additive to long term investment performance. Calvert’s investment strategies seek to outperform broad markets and perform at least as well as their traditional peers. Provide opportunities for positive global change – Calvert believes investment performance and performance on financially material ESG issues are closely linked. As Calvert seeks to invest in better performing ESG companies Calvert tends to consolidate capital in companies that exhibit environmental sustainability, resource efficiency, support for equitable societies and human rights, accountable governance and transparent operations. Calvert also engages with companies to help them improve their operational performance on financially material ESG issues. Calvert does this because it believes it can help companies improve and be better – better for the environment, better for society and better long-term investments for its clients. Calvert refines these key goals and links the needs of return seeking investors with global norms of sustainable businesses through the Calvert Principles for Responsible Investment (Calvert Principles), which are the foundation of the Firm’s research processes and engagement work.

To invest, call: 800-368-2748

Institution Name:
Calvert Research and Management

Mutual Funds Description: Calvert is a leader in the responsible investing arena and is headquartered in Washington, DC. Calvert was formed in 2016 and traces its roots to Calvert Investment Management (CIM), which was founded in 1976. The Calvert Funds are one of the largest and most diversified families of responsibly invested mutual funds, encompassing actively and passively managed strategies, U.S. and international equity strategies, fixed-income strategies, and asset allocation funds. Calvert was formed on December 30, 2016 and at that time, substantially all of the business assets of CIM were purchased by Calvert. The assets of CIM included all technology, know-how, intellectual property and the Calvert Research System and processes. After approval of the Boards of Directors or Trustees and shareholders of the Calvert Funds, Calvert also became the successor investment adviser to the registered investment management companies that CIM had been manager of prior to the transaction. In addition, Calvert hired the majority of the employees that were part of CIM's sustainability research department. On March 1, 2021, Morgan Stanley completed its acquisition of Eaton Vance and Calvert became a wholly owned subsidiary of Morgan Stanley and part of Morgan Stanley Investment Management (MSIM), the asset management division of Morgan Stanley.

Contact info:
2050 M Street NW STE 925
Washington,DC 20036
United States
Phone: 800-327-2109
Email: andrew.olig@calvert.com
Web: https://www.calvert.com/ (Opens in a new window)

Account Minimums - [Return to Top]

Minimum Account: $1000

Minimum IRA: $1000

Methodology - [Return to Top]

Screening Venue: In-house

Screening Party: Calvert Research & Management

Screening Database Used: Calvert Proprietary Research

Screening Process: The Calvert Principles for Responsible Investment: We believe that most corporations deliver benefits to society, through their products and services, creation of jobs, payment of taxes, and the sum of their behaviors. As a responsible investor, Calvert Research and Management seeks to invest in companies and other issuers that provide positive leadership in the areas of their business operations and overall activities that are material to improving long-term shareholder value and societal outcomes. Calvert seeks to invest in companies and other issuers that balance the needs of financial and nonfinancial stakeholders and demonstrate a commitment to the global commons as well as to the rights of individuals and communities. The Calvert Principles for Responsible Investment (Calvert Principles) provide a framework for Calvert’s evaluation of investments and guide Calvert’s stewardship on behalf of clients through active engagement with companies and other issuers. The Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote: Environmental Sustainability and Resource Efficiency, Equitable Societies and Respect for Human Rights, and Accountable Governance and Transparent Operations. Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that: Demonstrate poor management of environmental risks or contribute significantly to local or global environmental problems, Demonstrate a pattern of employing forced, compulsory or child labor, Exhibit a pattern and practice directly or through the company’s supply chain of human rights violations or are complicit in human rights violations committed by governments or security forces, including those that are under U.S. or international sanction for human rights abuses, Exhibit a pattern and practice of violating the rights and protections of Indigenous Peoples, Demonstrate poor governance or engage in harmful or unethical business practices, Manufacture tobacco products, Have significant and direct involvement in the manufacture of alcoholic beverages without taking significant steps to reduce the harmful impact of these products, Have significant and direct involvement in gambling or gaming operations without taking significant steps to reduce the harmful impact of these businesses. Have significant and direct involvement in the manufacture of civilian handguns and/or automatic weapons marketed to civilians, Have significant and direct involvement in the manufacture of military weapons that violate international humanitarian law, including cluster bombs, landmines, biochemical weapons, nuclear weapons, blinding laser weapons, or incendiary weapons, Use animals in product testing without countervailing social benefits such as the development of medical treatments to ease human suffering and disease. In testing and observing financially material issues we have adopted approximately 20 broad ESG issues that may impact companies: Biodiversity & Land, Climate & Energy, Corporate Ethics & Behavior, Corporate Governance- Diversity, Employee Health & Safety, Environmental Opportunities, Human Capital & Labor Management, Overall Risk Management, Packaging & Electronic Waste, Pollution & Waste, Privacy & Data Security, Product Safety & Integrity, Social Opportunities, Stakeholder Relations, Supply Chain, Supply Chain Labor, Water, Workplace Diversity, Corporate Resilience, Overall Governance. We assess companies’ performance on these issues. However, we assess these issues differently based on sectors, industries and sub-industries. As an early adopter of the Sustainable Accounting Standards Board’s (SASB) views on financial materiality and as a founding member of SASB’s Investment Advisory Board we organize and apply our research at the sub-industry level. The organization of our research by sub-industry allows us to relevantly and systematically assess and measure the performance of companies on these financially material ESG issues. We use approximately 200 sub-industry peer groups of companies, many of them unique and proprietary to Calvert, to organize our research. The creation of the peer groups and mapping of financially material ESG issues and metrics to them is a significant part of Calvert’s intellectual property and a key differentiator between Calvert and its peers.

Proxy Voting Information - [Return to Top]

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Proxy Voting Records: Open external link in new window

Specific Screening Information by Category - [Return to Top]

Environment

• Climate / Clean Technology: Combination of Positive and Restricted/Exclusionary Strategies - Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote Environmental sustainability and resource efficiency, Reduce the negative impact of operations and practices on the environment, Manage water scarcity and ensure efficient and equitable access to clean sources, Mitigate impact on all types of natural capital, Diminish climate-related risks and reduce their carbon emissions, Drive sustainability innovation and resource efficiency through business operations or other activities, products and services.
• Pollution / Toxics: Combination of Positive and Restricted/Exclusionary Strategies - Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote Environmental sustainability and resource efficiency, Reduce the negative impact of operations and practices on the environment, Manage water scarcity and ensure efficient and equitable access to clean sources, Mitigate impact on all types of natural capital, Diminish climate-related risks and reduce their carbon emissions, Drive sustainability innovation and resource efficiency through business operations or other activities, products and services. Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that: Demonstrate poor management of environmental, risks or contribute significantly to local or global environmental problems.
• Other Environmental: Combination of Positive and Restricted/Exclusionary Strategies - Since water supports all life, Calvert regards access to clean, affordable water and adequate sanitation as a basic human right. Accordingly, we believe every company whose products or services entail water usage has a corporate responsibility to enforce sustainable practices across its supply chain. At its most fundamental level, water supply is a local issue, affecting communities, work opportunities, agriculture, families, and a region’s social welfare. While water issues cut across all industries, the industries presenting the greatest sustainability risks are those that require a high volume of water, a supply of clean water, or face risk from intensifying water competition. Companies that rely directly on water for their products, such as those in the beverage and agricultural industries, pose the highest risks. In addition, clothing manufacturers, food and drug companies, hotels and resorts, and chemical companies are greatly dependent on water for the production of their goods or services—and are closely scrutinized by Calvert. The oil and gas industries, where water is a critical process ingredient to almost all areas of exploration and production, are also closely monitored.

Social

• Community Development: Positive Investment - The Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote Equitable Societies and respect for human rights, Respect consumers by marketing products and services in a fair and ethical manner, maintaining integrity in customer relations and ensuring the security of sensitive consumer data, Respect human rights, respect culture and tradition in local communities and economies and respect Indigenous Peoples’ Rights, Promote diversity and gender equity across workplaces, marketplaces and communities, Demonstrate a commitment to employees by promoting development, communication, appropriate economic opportunity and decent workplace standards, Respect the health and wellbeing of consumers and other users of products and services by promoting product safety The Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote companies that have built solid relationships with the local communities in which they operate. We examine philanthropy, employee volunteerism, and support of women-and minority-owned businesses. We look for companies to invest in that: Demonstrate a solid commitment to the communities in which they operate; Develop programs that target neglected communities, including low-income and minority populations; and Build strong working relationships with local and community development organizations.
• Diversity & Equal Employment Opportunity: Combination of Positive and Restricted/Exclusionary Strategies - The strategy’s investment process is guided by the Calvert Principles for Responsible Investment. In line with the principles, the strategy seeks to identify companies and other issuers that operate in a manner that is consistent with or promote Equitable societies and respect for human rights, Respect human rights, respect culture and tradition in local communities and economies and respect Indigenous Peoples’ Rights, Promote diversity and gender equity across workplaces, marketplaces and communities. Calvert’s dedicated Impact & Data team is responsible for managing the firm’s relationships with ESG data vendors, testing the quality of data, and creating impact reporting for our strategies. Additionally, this team collaborates with ESG analysts to uncover new data sets from current vendors, as well as new data vendors. This collaboration includes reviewing data methodologies, conducting due diligence calls, and testing partial data sets for quality & applicability to our ESG research process. Calvert's Impact Data and Technology team is also tasked with creating impact reports and measurements for Calvert strategies, analyzing and evaluating ESG data associated with impact, and building out Calvert’s technology platform. Calvert seeks disclosure of policies, programs, and performance metrics in three areas: diversity, labor relations, and employee health safety. Evaluations focus on quality of policies and programs, compliance with national laws and regulations, and proactive management initiatives. Calvert invests in companies that demonstrate inclusive diversity policies, fair treatment of all employees, robust diversity programs and training, and disclosure of workforce diversity data.
• Human Rights: Combination of Positive and Restricted/Exclusionary Strategies - The strategy’s investment process is guided by the Calvert Principles for Responsible Investment. In line with the principles, the strategy seeks to identify companies and other issuers that operate in a manner that is consistent with or promote Equitable societies and respect for human rights, Respect human rights, respect culture and tradition in local communities and economies and respect Indigenous Peoples’ Rights, Promote diversity and gender equity across workplaces, marketplaces and communities. For many years, Calvert has led initiatives pressing companies and entire industries to respect human rights—from improving factory labor practices, curtailing human trafficking in global supply chains, and divesting from Sudan—to promoting freedom of expression and the right to privacy on the Internet. Calvert believes it is critical for companies to adopt core human rights standards throughout their operations and proactively manage human rights-related risks. For example, we participated in the SEC rule-making process of the Dodd-Frank Act provisions that require companies to disclose their efforts to source and remove conflict minerals from their supply chains. Calvert evaluates corporate policies and actions in many areas. We work directly with companies and with coalitions of investors, human rights groups, and industry leaders to establish global standards and effect change from the top-down. Calvert has also pressed companies to endorse the UN Declaration on the Rights of Indigenous Peoples and to accept the principle of Free, Prior, and Informed Consent (FPIC) as the standard for operating in proximity to indigenous lands and communities. In the area of the Internet, Calvert joined the multi-stakeholder Global Network Initiative (GNI) to establish international, baseline human rights standards for technology companies and governments with regard to free expression and privacy issues. In our view, companies that directly and aggressively address human rights issues can reduce these business risks and costs, facilitate overseas expansion, protect and extend their brand reputation, and generate valuable goodwill among consumers, investors, and the community.
• Labor Relations: Combination of Positive and Restricted/Exclusionary Strategies - Calvert believes that safety, freedom, and dignity in the work environment are fundamental rights, regardless of an employee’s country of origin, gender, race, or socioeconomic status. To that end, we urge companies to establish robust codes of conduct, with strong labor and safety provisions, and to take active steps to enforce them across their global operations. Fostering safe work environments and high labor standards is not only the right thing to do for the health and well-being of employees—it also yields multiple benefits for the community, the environment and, ultimately, the company itself.
• Conflict Risk: No Investment - Our stand on Sudan is entirely appropriate for Calvert, consistent with our commitment to human rights since our pioneering decision in 1982 not to invest in companies doing business in South Africa's then-apartheid regime. That was the first such commitment made by any US socially responsible investment firm, or by any mutual fund.

Governance

• Board Issues: Combination of Positive and Restricted/Exclusionary Strategies - Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote Accountable Governance and transparent operations, Provide responsible stewardship of capital in the best interests of shareholders and debt holders, Exhibit accountable governance and develop effective boards or other governing bodies that reflect expertise and diversity of perspective and provide oversight of sustainability risk and opportunity, Include environmental and social risks, impacts and performance in material financial disclosures to inform shareholders and debt holders, benefit stakeholders and contribute to strategy, Lift ethical standards in all operations, including in dealings with customers, regulators and business partners, Demonstrate transparency and accountability in addressing adverse events and controversies while minimizing risks and building trust. For over two decades, Calvert has regarded board diversity as a critical governance goal. A company’s board membership should broadly reflect its customer base and employees. The array of viewpoints, skills, background, and experience provided by boards whose members have diverse backgrounds gives the company a broader foundation to draw upon for strategic decision-making—especially in today’s highly competitive, global marketplace. We believe that to be marketplace leaders, companies must actively seek women and minority candidates for their boardrooms.
• Executive Pay: Combination of Positive and Restricted/Exclusionary Strategies - Doling out excessive payments to executives at the expense of other employees is in direct contrast to shareholders’ interests and often increases employee turnover. We have found that excessive executive compensation during a period of lackluster business performance may be an early indication of bigger trouble at a company. Poorly designed compensation programs that encourage executives to manage for short-term performance—at the expense of long-term profitability—are another concern, potentially compromising the governance goals of a corporation. We strongly believe it is in the best interests of a firm to align senior management’s risks and rewards with those of employees, shareholders, and the long-term performance of the corporation. “Pay-for-performance” compensation plans, for example, typically link executive compensation to clearly defined and rigorous criteria.

Products

• Alcohol: Combination of Positive and Restricted/Exclusionary Strategies - Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that have significant and direct involvement in the manufacture of alcoholic beverages without taking significant steps to reduce the harmful impact of these products.
• Animal Welfare: Combination of Positive and Restricted/Exclusionary Strategies - Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that use animals in product testing without countervailing social benefits such as the development of medical treatments to ease human suffering and disease.
• Defense/Weapons: Combination of Positive and Restricted/Exclusionary Strategies - Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that have significant and direct involvement in the manufacture of military weapons that violate international humanitarian law, including cluster bombs, landmines, biochemical weapons, nuclear weapons, blinding laser weapons, or incendiary weapons as well as issuers that have significant and direct involvement in the manufacture of civilian handguns and/or automatic weapons marketed to civilians.
• Gambling: Combination of Positive and Restricted/Exclusionary Strategies - Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that have significant and direct involvement in gambling or gaming operations without taking significant steps to reduce the harmful impact of these businesses.
• Tobacco: Restricted/Exclusionary Investment - Through the application of the Calvert Principles, Calvert could have no or limited exposure to issuers that manufacture tobacco products.

Other

• Other/Qualitative: Shareholder resolutions: Any shareholder with $2,000 of company stock, held for one year, can file a resolution calling on a company to take a particular action, such as changing a company policy or asking the company to report to its shareholders on a particular issue of concern. If not settled favorably and withdrawn beforehand, these resolutions may come to a vote in front of all shareholders at the company's annual meeting. Calvert routinely files or co-files up to three dozen resolutions each year with a wide range of companies on our priority objectives. Working in coalitions: Calvert believes there is power in numbers; we often partner with other major investors and NGOs — representing a wide range of voices and interests — to advance common objectives. Calvert can be a co-filer of a shareholder resolution or participate in multi-stakeholder dialogue around industries or particular companies, conduct joint research, and play an active role in broad-based public policy platforms. Dialogue with company executives: Before investing, Calvert regularly initiates conversations with company management as part of our sustainable research process and corporate engagement. Through periodic calls, letters, and in-person meetings, Calvert continues its dialogue with management of companies in which we invest. These interactions provide Calvert with a sharper sense of the company's commitment to, and performance on, ESG issues, enabling us to press for improvement in specific areas of concern. Multi-stakeholder dialogues: Calvert works with other investors, corporations, and members of civil society to formulate standards and principles for new and challenging corporate responsibility issues. Such exercises present efficient and effective ways to raise standards across an entire industry.
• Shareholder Engagement - Shareholder Resolutions: Filed or co-filed with companies on environmental, social or governance issues
• Shareholder Engagement - Private Dialogue: Conducted with companies on environmental, social or governance issues
• Description of Shareholder Engagement: Calvert Research and Management has a long history of supporting the health and sustainability of global markets and improving investment returns through its active engagement with corporations. Rigorous corporate engagement can improve corporate behaviors, contributing to a more sustainable and equitable world, and potentially contribute to an investment’s business prospects. Responsible investors work within and help strengthen a set of global norms. These global norms, expressed in agreements such as the United Nations Sustainable Development Goals, United Nations Principles for Responsible Investment (UN PRI) and the Paris Climate Accord, provide a framework for investors and businesses to create a more just and sustainable world. Critical to these efforts is a robust program for engaging corporations on material ESG issues, which is more essential now than ever before. We believe that as investors, we have a responsibility to engage in oversight of companies to ensure management is acting in our long-term interests. Leveraging our rigorous research process, we believe we can make a valuable contribution to corporate governance, improve long-term financial and market outcomes, and bring about social and environmental benefits. Our engagement philosophy encompasses the following characteristics: INFORMED: We leverage Calvert’s extensive ESG and investment research to select targets with the potential for positive change, and to contribute meaningful ideas for the improvement of company financial and social performance. OUTCOME-ORIENTED: Our engagements are rooted in the unique ESG risks and opportunities associated with each company. We set differentiated objectives for transparency, policy and performance for each target company to ensure that our engagement catalyzes tangible performance improvements. LONG-TERM: We intend to build a long-term constructive relationship with the company to bring about lasting change and continual improvement. THOUGHT-LEADING: We promote ESG innovations developed by internal and external partners, such as new methods to measure corporate impact, to contribute to ongoing progress in the ESG field and in corporate best practices, generally. COLLABORATION AND ESCALATION: While our goal is to work collaboratively with companies, we will escalate our engagement where necessary with reluctant companies, including filing shareholder proposals (also referred to as shareholder resolutions), alerting other investors to our concerns and speaking out in the media.

Performance Data - [Return to Top]

Data provided by: - Information current as of December 31, 2023

Year-to-date rate of return: 16.65%

1-year rate of return: 16.65%

3-year rate of return: 4.3%

5-year rate of return: 10.25%

10-year rate of return: 7.55%

Previous year rate of return: -15.17%

Management fee: 0.62%

Expense ratio: 0.74%

Standard deviation: 11.45%

Benchmark used: Russell 1000 | External link (Opens in a new window)

Disclaimer: The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non‑payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description. https://www.calvert.com/our-funds.php?fund=Calvert&left_filter=all&docs=docs Please consider the investment objective, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund. To obtain a prospectus, download one at https://www.calvert.com/our-funds.php or contact your financial professional. Please read the prospectus carefully before investing.

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