Calvert Emerging Markets Equity Fund
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.2%
1 yr return
-0.4%
3 Yr Avg Return
-10.1%
5 Yr Avg Return
-0.4%
Net Assets
$1.88 B
Holdings in Top 10
44.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.03%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 36.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CVMIX - Profile
Distributions
- YTD Total Return -1.2%
- 3 Yr Annualized Total Return -10.1%
- 5 Yr Annualized Total Return -0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.71%
- Dividend Yield 0.9%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameCalvert Emerging Markets Equity Fund
-
Fund Family NameCalvert Investments
-
Inception DateOct 29, 2012
-
Shares Outstanding139590009
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKunjal Gala
Fund Description
The Fund normally invests at least 80% of its assets, including borrowings for investment purposes, in equity securities of companies located in emerging market countries (the “80% Policy”). The Fund is sub-advised by Hermes Investment Management Limited (the “Sub-Adviser”).
Equity securities held by the Fund will primarily include common stock, preferred stock, depositary receipts, options on securities, and equity-equivalent securities, such as participation notes (“P-Notes”). Derivatives, such as futures, options on futures, and swaps, may also be held by the Fund incidental to its main investment strategy.
The Sub-Adviser considers emerging market countries to be those included in the Fund’s benchmark index, the MSCI Emerging Markets Index; countries determined by the World Bank to have a low to middle income economy; and other countries or markets with similar emerging market characteristics as determined by the Sub-Adviser. A company is considered to be located in an emerging market country if it has a class of securities whose principal securities market is in an emerging market country; is organized under the laws of, or has a principal office in, an emerging market country; derives 50% or more of its total revenues or earnings from goods produced, sales made, or services provided in one or more emerging market countries; or maintains 50% or more of its assets in one or more emerging market countries.
The Fund may invest in companies of any market capitalization but seeks to have market capitalization size characteristics similar to that of the MSCI Emerging Markets Index. As of December 31, 2023, the market capitalization of the MSCI Emerging Markets Index companies ranged from $787 million to $2.1 trillion with a weighted average market capitalization of $109.1 billion. Market capitalizations of companies within the MSCI Emerging Markets Index are subject to change. The Fund is expected to invest its assets among companies located in emerging markets throughout the world. The Fund may also invest in securities denominated in foreign currencies and may acquire foreign currency or enter into foreign currency derivatives (including forward foreign currency exchange contracts and currency futures contracts) to seek to hedge foreign currency exposure.
Securities of companies located in emerging market countries may include American Depositary Receipts (“ADRs”), which are either sponsored or unsponsored, and Global Depositary Receipts (“GDRs”).
The Sub-Adviser seeks to identify quality companies trading at attractive valuations that are located in emerging market countries that are believed by the Sub-Adviser to have conditions that are supportive of economic growth. To this end, the Sub-Adviser combines a top-down approach to country and sector analysis with a bottom-up approach to fundamental company research, including consideration of the Fund’s responsible investing criteria described below. The country analysis includes an assessment of the risks and opportunities for each emerging market country through in-depth quantitative and qualitative analysis. The sector analysis includes a valuation assessment through qualitative analysis. The fundamental company research also utilizes a number of qualitative and quantitative methods. Portfolio construction is determined by the Sub-Adviser based on its level of conviction in the country and company with input from proprietary risk models.
The Fund may sell a security when its fundamentals deteriorate, the target price is reached, other securities are identified to displace a current holding or it does not meet the Fund’s sustainability and corporate responsibility criteria. The Fund may also lend its securities.
Responsible Investing. The Fund has established sustainable and socially responsible investment criteria to determine whether a security qualifies as an investment for the Fund. The Fund seeks to invest in emerging market companies whose products, services or industrial and/or business practices contribute towards addressing one or more global sustainability challenges in local or international markets, including (i) development, poverty and health, (ii) environment and climate change, or (iii) rights and governance. The foregoing are commonly known as environmental, social and governance (“ESG”) factors. Investments are selected for financial soundness and evaluated according to these sustainability and corporate responsibility criteria, the application of which is considered to be in the economic interest of the Fund and its shareholders.
CVMIX - Performance
Return Ranking - Trailing
Period | CVMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -11.9% | 9.8% | 67.39% |
1 Yr | -0.4% | -13.6% | 30.1% | 88.90% |
3 Yr | -10.1%* | -24.9% | 7.2% | 79.42% |
5 Yr | -0.4%* | -8.7% | 10.6% | 79.15% |
10 Yr | 3.2%* | -3.1% | 6.1% | 29.47% |
* Annualized
Return Ranking - Calendar
Period | CVMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.8% | -6.5% | 35.5% | 92.55% |
2022 | -23.2% | -50.1% | -2.4% | 37.29% |
2021 | -8.1% | -33.1% | 22.5% | 64.60% |
2020 | 24.4% | -22.1% | 80.1% | 25.62% |
2019 | 21.8% | -0.7% | 42.0% | 30.14% |
Total Return Ranking - Trailing
Period | CVMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -11.9% | 9.8% | 67.39% |
1 Yr | -0.4% | -13.6% | 30.1% | 88.90% |
3 Yr | -10.1%* | -24.9% | 7.2% | 79.42% |
5 Yr | -0.4%* | -8.7% | 10.6% | 79.15% |
10 Yr | 3.2%* | -3.1% | 6.1% | 29.47% |
* Annualized
Total Return Ranking - Calendar
Period | CVMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.7% | -2.7% | 42.0% | 94.44% |
2022 | -22.6% | -42.2% | 1.9% | 50.56% |
2021 | -7.4% | -32.5% | 33.1% | 85.25% |
2020 | 24.9% | -20.0% | 81.6% | 26.54% |
2019 | 22.7% | 2.3% | 42.0% | 37.80% |
NAV & Total Return History
CVMIX - Holdings
Concentration Analysis
CVMIX | Category Low | Category High | CVMIX % Rank | |
---|---|---|---|---|
Net Assets | 1.88 B | 682 K | 103 B | 26.10% |
Number of Holdings | 52 | 10 | 7049 | 87.95% |
Net Assets in Top 10 | 916 M | 118 K | 19.2 B | 19.81% |
Weighting of Top 10 | 44.15% | 0.7% | 122.2% | 14.48% |
Top 10 Holdings
- Samsung Electronics Co Ltd 9.49%
- Taiwan Semiconductor Manufacturing Co Ltd 8.88%
- Prosus NV 4.38%
- Tencent Holdings Ltd 3.86%
- Alibaba Group Holding Ltd 3.58%
- Bank Rakyat Indonesia Persero Tbk PT 3.26%
- AIA Group Ltd 3.00%
- Itausa SA 2.70%
- Infosys Ltd 2.66%
- HDFC Bank Ltd 2.34%
Asset Allocation
Weighting | Return Low | Return High | CVMIX % Rank | |
---|---|---|---|---|
Stocks | 96.70% | 0.00% | 103.65% | 55.29% |
Preferred Stocks | 2.70% | 0.00% | 10.09% | 16.73% |
Cash | 0.60% | -2.03% | 99.29% | 78.31% |
Other | 0.00% | -1.64% | 50.31% | 43.64% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 20.89% |
Bonds | 0.00% | 0.00% | 94.30% | 31.06% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CVMIX % Rank | |
---|---|---|---|---|
Technology | 28.48% | 0.00% | 47.50% | 18.43% |
Financial Services | 21.13% | 0.00% | 48.86% | 57.32% |
Consumer Cyclical | 16.14% | 0.00% | 48.94% | 18.56% |
Industrials | 11.95% | 0.00% | 43.53% | 10.03% |
Communication Services | 8.47% | 0.00% | 39.29% | 54.61% |
Healthcare | 6.05% | 0.00% | 16.53% | 23.85% |
Consumer Defense | 4.16% | 0.00% | 25.90% | 80.62% |
Basic Materials | 3.62% | 0.00% | 30.03% | 82.66% |
Utilities | 0.00% | 0.00% | 39.12% | 75.88% |
Real Estate | 0.00% | 0.00% | 17.15% | 87.94% |
Energy | 0.00% | 0.00% | 24.80% | 88.35% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CVMIX % Rank | |
---|---|---|---|---|
Non US | 93.55% | 0.00% | 100.18% | 17.94% |
US | 3.15% | 0.00% | 101.58% | 82.33% |
CVMIX - Expenses
Operational Fees
CVMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.03% | 0.03% | 24.48% | 73.79% |
Management Fee | 0.85% | 0.00% | 2.00% | 41.69% |
12b-1 Fee | N/A | 0.00% | 1.00% | 81.91% |
Administrative Fee | 0.12% | 0.01% | 0.85% | 64.16% |
Sales Fees
CVMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
CVMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 18.26% |
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.
CVMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 36.00% | 0.00% | 189.00% | 36.45% |
CVMIX - Distributions
Dividend Yield Analysis
CVMIX | Category Low | Category High | CVMIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.93% | 0.00% | 10.29% | 76.84% |
Dividend Distribution Analysis
CVMIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
CVMIX | Category Low | Category High | CVMIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.71% | -1.98% | 17.62% | 50.00% |
Capital Gain Distribution Analysis
CVMIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 22, 2023 | $0.150 | OrdinaryDividend |
Dec 30, 2022 | $0.124 | OrdinaryDividend |
Dec 30, 2021 | $0.155 | OrdinaryDividend |
Dec 30, 2020 | $0.091 | OrdinaryDividend |
Dec 03, 2019 | $0.122 | OrdinaryDividend |
Nov 30, 2018 | $0.183 | OrdinaryDividend |
Dec 29, 2017 | $0.047 | OrdinaryDividend |
Dec 28, 2016 | $0.103 | OrdinaryDividend |
Dec 30, 2015 | $0.144 | OrdinaryDividend |
Dec 30, 2014 | $0.075 | OrdinaryDividend |
Dec 27, 2013 | $0.122 | OrdinaryDividend |
Dec 28, 2012 | $0.034 | OrdinaryDividend |
CVMIX - Fund Manager Analysis
Managers
Kunjal Gala
Start Date
Tenure
Tenure Rank
Nov 04, 2019
2.57
2.6%
Kunjal Gala is director and co-portfolio manager for Federated Hermes, a subadvisor to Calvert. He joined Federated Hermes in 2012. Kunjal began his career in the investment management industry in 2004. Before joining Federated Hermes, he was assistant director for UK Government Investments (UKGI), focused on managing the UK government's portfolio investments and businesses including strategic advisory and monetization options across various sectors. Previously, he was a senior financial analyst in the investment banking division of Morgan Stanley in India and subsequently London, and worked at Thomas Cook India Limited and PricewaterhouseCoopers (PwC) in India. Kunjal earned a B.Com from the University of Mumbai. He holds the Associate Chartered Accountant (ACA) qualification from the Institute of Chartered Accountants of India and the Certificate in Investment Management (IMC) from the CFA Society UK.
Vivek Bhutoria
Start Date
Tenure
Tenure Rank
Jan 04, 2022
0.4
0.4%
Mr. Bhutoria has been a Senior Analyst (Asia ex-Japan) for the Hermes Emerging Markets team since 2019. Prior to joining Hermes, he was a Senior Analyst with NN Investment Partners (formerly ING Investment Management) in the global emerging equity team from June 2017 to June 2018 and a Vice President with Deutsche Bank, covering emerging markets equities, from 2011 to 2017.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.54 | 13.42 |