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Trending ETFs

Name

As of 09/29/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.53

$453 M

2.86%

$0.42

0.88%

Vitals

YTD Return

-1.6%

1 yr return

1.8%

3 Yr Avg Return

-2.9%

5 Yr Avg Return

0.5%

Net Assets

$453 M

Holdings in Top 10

11.8%

52 WEEK LOW AND HIGH

$14.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.88%

SALES FEES

Front Load 3.25%

Deferred Load N/A

TRADING FEES

Turnover 18.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 09/29/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.53

$453 M

2.86%

$0.42

0.88%

CTTLX - Profile

Distributions

  • YTD Total Return -1.6%
  • 3 Yr Annualized Total Return -2.9%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.02%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Calvert Responsible Municipal Income Fund
  • Fund Family Name
    Calvert Investments
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    7421492
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cynthia Clemson

Fund Description

Under normal market conditions, at least 80% of the income from the Fund will be exempt from federal income tax (the “Tax-Exempt 80% Policy”). In complying with this policy, the Fund normally expects to invest at least 80% of its net assets in municipal obligations, the interest on which is exempt from regular federal income tax and federal alternative minimum tax (the “Municipal Obligations 80% Policy”). The Fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in issuers that the investment adviser determines operate in a manner consistent with or promote The Calvert Principles for Responsible Investment (the “Principles”) (the “Principles 80% Policy”). The Principles provide a framework for the investment adviser’s evaluation of investments considering environmental, social and governance (“ESG”) factors. The Principles seek to identify 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 transparency, among other factors. For additional information, please refer to “Appendix A: The Calvert Principles for Responsible Investment” in this Prospectus.

At least 65% of the Fund’s net assets normally will be invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The Fund may invest up 35% of its net assets in obligations rated below investment grade and in unrated obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if municipal obligations are rated differently by two or more rating agencies, the highest rating is used.

The Fund may invest in municipal obligations without limitation as to their maturity or duration, and there is no upper or lower limit on the Fund’s average maturity or average duration. At the sole discretion of the Fund’s portfolio managers, the Fund may seek out attractive investment opportunities across the yield curve.

The Fund may invest in a variety of municipal obligations, including obligations issued by state and local issuers as well as U.S. territories, various types of revenue debt, special tax obligations, qualified private activity bonds, municipal leases, principal only municipal investments and certificates of participation in such investments.  The Fund may invest 25% or more of its total assets in certain types of municipal obligations (such as general obligations, municipal leases, principal only municipal investments, revenue bonds and industrial development bonds) and in one or more economic sectors (such as housing, hospitals, healthcare facilities or utilities).  The Fund may invest in pooled investment vehicles, including exchange-traded funds (“ETFs”), in order to seek exposure to the municipal markets or municipal market sectors.  Such investments in pooled investment vehicles will not be counted toward the Principles 80% Policy or toward the Tax-Exempt 80% Policy but may be counted toward the Municipal Obligations 80% Policy if the vehicle invests at least 80% of its net assets in the type of securities included in the Municipal Obligations 80% Policy. The Fund may invest in restricted securities.

The Fund may invest in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities (“Agency Securities”) provided that not more than 20% of its income will be taxable. Interest earned from taxable investments will be taxed as ordinary income.  Dividends attributable to interest on certain private activity bonds are included in federal alternative minimum tax for individuals and corporations.  The Fund may purchase or sell futures contracts for hedging purposes.  The Fund may also purchase or sell residual interest bonds. The Fund may also lend its securities.

The investment adviser’s process for selecting obligations for purchase and sale includes an evaluation of an obligation’s creditworthiness and consideration of the responsible investing criteria described below.  In evaluating creditworthiness, the investment adviser will consider ratings assigned by rating agencies and generally perform additional credit and investment analysis.  The investment adviser will also consider the relative value of the obligation in the market.  

Responsible Investing.  In selecting investments for the Fund, the Fund’s investment adviser is guided by the Principles (a copy of which is included as an appendix to the Fund’s Prospectus), which provide a framework for considering ESG factors. The Fund’s investments include municipal securities that the Fund’s adviser believes may have a positive environmental and/or social impact, such as obligations that fund education, healthcare, community services, housing, water, public transportation and other public purposes.

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CTTLX - Performance

Return Ranking - Trailing

Period CTTLX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.6% -60.4% 26.2% 63.65%
1 Yr 1.8% -14.1% 8.5% 52.94%
3 Yr -2.9%* -9.3% 50.1% 67.78%
5 Yr 0.5%* -4.5% 28.8% 52.32%
10 Yr 1.6%* -1.7% 14.1% 52.35%

* Annualized

Return Ranking - Calendar

Period CTTLX Return Category Return Low Category Return High Rank in Category (%)
2022 -9.8% -76.8% 4.7% 35.41%
2021 -0.8% -69.5% 9.0% 65.83%
2020 2.9% -66.1% 310.0% 8.81%
2019 4.8% -57.4% 26.0% 16.86%
2018 -1.9% -30.0% 11.0% 41.56%

Total Return Ranking - Trailing

Period CTTLX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.6% -60.4% 26.2% 63.65%
1 Yr 1.8% -14.6% 11.3% 52.94%
3 Yr -2.9%* -5.8% 6071.3% 67.78%
5 Yr 0.5%* -1.6% 1098.8% 52.32%
10 Yr 1.6%* -0.4% 247.4% 52.35%

* Annualized

Total Return Ranking - Calendar

Period CTTLX Return Category Return Low Category Return High Rank in Category (%)
2022 -8.1% -76.8% 4.7% 38.36%
2021 0.3% -69.5% 23761504.0% 80.56%
2020 4.5% -66.1% 34671.4% 42.98%
2019 7.1% -57.4% 3514.6% 42.22%
2018 0.5% -30.0% 15.0% 61.07%

NAV & Total Return History


CTTLX - Holdings

Concentration Analysis

CTTLX Category Low Category High CTTLX % Rank
Net Assets 453 M 423 K 437 B 49.68%
Number of Holdings 266 1 14000 45.56%
Net Assets in Top 10 53.6 M -317 M 8.64 B 60.49%
Weighting of Top 10 11.77% 2.4% 101.7% 77.49%

Top 10 Holdings

  1. CONNECTICUT ST 1.26%
  2. LOS ANGELES CA UNIF SCH DIST 1.24%
  3. BROWARD CNTY FL SCH DIST 1.22%
  4. SANTA CLARA VLY CA WTR DIST SAFE CLEAN WTR REVENUE 1.22%
  5. LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE 1.22%
  6. SAN DIEGO CNTY CA WTR AUTH 1.16%
  7. GEISINGER PA AUTH HLTH SYS REVENUE 1.15%
  8. MARION POLK CNTYS OR SCH DIST #24J SALEM 1.12%
  9. SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE 1.10%
  10. CALIFORNIA ST HSG FIN AGY REVENUE 1.07%

Asset Allocation

Weighting Return Low Return High CTTLX % Rank
Bonds
99.61% 65.51% 150.86% 23.68%
Cash
0.34% -50.86% 33.96% 77.38%
Other
0.05% -13.03% 30.01% 10.78%
Stocks
0.00% -0.03% 4.63% 10.08%
Preferred Stocks
0.00% -0.52% 0.04% 3.28%
Convertible Bonds
0.00% 0.00% 0.93% 3.42%

Bond Sector Breakdown

Weighting Return Low Return High CTTLX % Rank
Municipal
92.93% 44.39% 100.00% 88.67%
Corporate
2.38% 0.00% 9.41% 1.01%
Cash & Equivalents
0.23% 0.00% 33.95% 45.94%
Derivative
0.05% 0.00% 3.41% 6.55%
Securitized
0.00% 0.00% 5.93% 5.06%
Government
0.00% 0.00% 52.02% 10.76%

Bond Geographic Breakdown

Weighting Return Low Return High CTTLX % Rank
US
99.61% 37.86% 142.23% 21.68%
Non US
0.00% 0.00% 62.14% 12.54%

CTTLX - Expenses

Operational Fees

CTTLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.88% 0.02% 6.50% 35.69%
Management Fee 0.47% 0.00% 1.10% 70.28%
12b-1 Fee 0.25% 0.00% 1.00% 35.59%
Administrative Fee 0.12% 0.01% 0.44% 49.60%

Sales Fees

CTTLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.25% 0.00% 4.75% 54.12%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

CTTLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 16.42%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CTTLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.00% 0.00% 283.00% 51.92%

CTTLX - Distributions

Dividend Yield Analysis

CTTLX Category Low Category High CTTLX % Rank
Dividend Yield 2.86% 0.00% 4.53% 56.86%

Dividend Distribution Analysis

CTTLX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

CTTLX Category Low Category High CTTLX % Rank
Net Income Ratio 1.02% -0.53% 5.33% 85.77%

Capital Gain Distribution Analysis

CTTLX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Monthly

Distributions History

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CTTLX - Fund Manager Analysis

Managers

Cynthia Clemson


Start Date

Tenure

Tenure Rank

Dec 31, 2016

5.42

5.4%

Cindy Clemson is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. She joined Calvert Research and Management in 2016. Cindy began her career in the investment management industry in 1985. She has been affiliated with the Eaton Vance organization since 1985. Cindy earned a B.A. from Mount Holyoke College and an MBA from Boston University. She is a member of the Boston Municipal Analysts Forum, the CFA Society of Boston, the Municipal Bond Buyer Conference and the National Federation of Municipal Analysts.

William Delahunty


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

William J. Delahunty, Jr. are the portfolio managers of the Fund. Mr. Delahunty has been a portfolio manager of the Fund since October 1, 2021. Mr. Delahunty is a Vice President of Eaton Vance and BMR, manages other Eaton Vance portfolios and has been a member of the Eaton Vance municipals team for more than five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.28 1.58