Investment Process - Calvert Investments

TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% //////APSG -0.03 -1.00%
-1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0
-1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68% JOSB +0.85 +4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 +0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.4
-4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05
////////////////////////////////////////////////////////// CRGN +0.02 +2.67% WXH +0.15 +1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW
LFT -0.15 -0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55
+0.35% CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.04% CLRO 0.17 -5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN +0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LK
NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0
-0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS
ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0.60% HTGC -0.04 -1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68% JOSB +0.85 +4.20% 
-1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 -2.39% RGR +0.04 +0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6
+0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05%CRGN +0.02 +2.67% WXH +0.15 +1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6
+0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69% LFT -0.15 -0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +
AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.04% CLRO 0.17 -5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN
INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch
TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% ///////////////////////////// APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +
-0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0.60% HTGC -0.04 -1.10% HTS -0.0
-0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68% JOSB +0.85 +4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 -2.39% RGR +0.04 +0.39% SCL
SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% 
ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05% CRGN +0.02 +2.67% 
AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69% LFT -0.15 -0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0
SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.0
-5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN +0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +
RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% 
APSG -0.03 -1.00%
ARQL -0.03
Calvert’s
Asset
Allocation
provide
convenient,
solution
to investment
diversification
thatincorporates
environmental,
-1.10%
-0.32% 
INFI -0.09a
-1.13%
-5.39% ITWO
-0.12 -1.68%
LONG +0.18 +3.51%
HMSY +0.19 +0.60%
HTGC -0.04
HTS -0.07Funds
INSU -0.68one-step
 JOSB +0.85 +4.20%
KOPN -0.03 -1.91%
LUFK -0.24 -0.86% MTXX -0.23 -1.37%
-3.04% QCOR -0.12
-2.39%
RGR
+0.04
+0.39%
SCL
-1.66
-6.43%
SEAC
4.32
unch
SHOR
-0.37
-8.92%
SIGM
-0.91
-6.03%
SNWL
-0.29
-6.
-82%
SUPG
+0.01
+0.63%
TG
-0.77
-5.07%
-0.35 -5.38% TTEC -0.04 -0.46








TIVOmoney
social, and governance (ESG) criteria. Our fund-of-funds, multi-manager structure offers clients access to institutional-quality
-2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.
-1.23% DFZ +0.17
+3.05% /CRGN +0.02
+2.67% across
WXH +0.15
+1.61% range
ALDA -0.05Calvert
-0.95% CSLR
5.00 unch CVV
-0.16 -6.37% CYAN
+0.00
+0.01%
-0.01 -0.10%
0.09 -8.65%
AHPI 0.07
EWST
FLL
management
expertise,
a wide
of -1.33%
assetclasses.
Investment
Management,
Inc.
(CIM),
the
advisor
to the
Funds,
is KSW -0.10 -4.69
-0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0
responsible
oversight
the 
Funds
and
theCNAF
Calvert
Asset
Allocation
manages
Funds.
includes
implementing
unch
CLRO 0.17
-5.36%
15.51 unch
+0.83 +3.76%Committee
FFDF 11.25 unch
+0.26%
INHXThis
0.24 unch
+2.85% LBCP -0.15 -2.31% LKI -0.07 -5
CHMP +0.33 +21.97%
CKX 11.01for
CLFD -0.09of-8.04%
DIT
HIFN +0.01the
KIRK +0.08
-4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00%
strategic
and+4.18%
tactical
asset
allocation
monitoring
theunderlying
funds,
asset
allocation
-0.01 -1.73%
/ APSGdecisions,
-0.03 -1.00% 
ARQL -0.03 -1.00%
COBH +0.58 +4.52%
-0.21working
-2.54% CYwith
+0.31 the
+4.75%
+0.31 +4.75%consultants
WVFC -0.01 -0.06%
ACFN +0.09
AFOP
CSBKand
DBTK
DEP -0.41 -2.86% EBS -1.01 -5.07%
-1.54% EXTR -0.17
-13.82%
FORR
-0.13
-0.78%
HBE
-0.05
-0.75%
HMSY
+0.19
+0.60%
HTGC
-0.04
-1.10%
HTS
-0.07
-0.32%
INFI
-0.09
-1.13%
INSU
-0.68
-5.39%
ITWO
-0.12 -1.68% JOSB +0.85 +4.20% KOPN -0.03 






at
Ibbotson
Associates
to
develop
asset
class
models.
+0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 -2.39% RGR +0.04 +0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +
-0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -5.16% BKMU -0.1
-0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05% CRGN +0.02 +2.67% WXH +0.15 +1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.0
-0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69% LFT -0.15 -0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0
CALVERT
CONSERVATIVE
FUND
CALVERT
(CMAAX)
CALVERT
AGGRESSIVE
ALLOCATION
-0.15 -4.76% AWH
-0.52 -1.55%
+0.35% CHMP
+0.33(CCLAX)
+21.97% CKX 11.01
unchMODERATE
-8.04% CLROFUND
0.17 -5.36%
CNAF 15.51 unch
+3.76% FFDF
11.25 unchFUND
+0.01 +0.26% INHX 0.24 un
BITI +0.01 ALLOCATION
CLFD -0.09ALLOCATION
DIT +0.83
HIFN(CAAAX)
+2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.
+0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBT
Objective
Objective
Objective
-0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0.60% HTGC -0.04 -1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITW
DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR
Fund -0.03
seeks-1.91%
currentincome
and capital
Fund
seekslong-term
capitalappreciation.
JOSB +0.85 +4.20%The
LONG +0.18
+3.51% appreciation,
-0.23seeks
-1.37%
-3.04%
-0.12 -2.39% RGRThe
+0.04
+0.39%
SCL -1.66 -6.43%
SEAC 4.32 unch SHOR -0.37 -8.92% SI
The Fund
long-term
capital
appreciation
KOPN
LUFK -0.24 -0.86% MTXX
PSEC -0.20
QCOR and
+0.01
-5.07% TIVO -0.35 -5.38% TTEC
-0.04of-0.46%
-0.38 -2.23%
-0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% B
SNWL -0.29 -6. -82%
SUPGwith
TG -0.77
WIRE
ACTG
consistent
the+0.63%
preservation
of capital.
growth
income,
with current
income
a secondary
BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05% //////////////////////////////////////////////////////
CRGN +0.02 +2.67% WXH +0.15 +1.61% 
Strategic Asset Allocation Targets
objective,
consistent
with-8.65%
the preservation
capital.LFT -0.15 -0.84%
CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST
-0.01 -0.10%
+0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA
ALDA -0.05 -0.95%
FLL 0.09
KSW -0.10of-4.69%
MVCEquities
Strategic
Asset
Allocation
Targets
70
–
100%
|
0
–
30%
Fixed
0 – 10%
-8.04% CLRO 0.17 -5.36%
SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 unchIncome
CLFD |-0.09
– 45%11.25
Equities
| 45
– 75%+0.01
Fixed+0.26%
IncomeINHX
| 0 – 0.24
20%unch
CashKIRK +0.08
Cash
or Cash
Equivalents
unch
+2.85%Asset
LBCP Allocation
-0.15 -2.31%Targets
LKI -0.07 -5.04% NUHC -0.07 -4.46%
+0.02
+0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.1
Strategic
DIT +0.83 +3.76%15 FFDF
HIFN
OKN
unch TAST -0.17or
-5.82%
TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH
+0.44% 
UNFY
-0.20
-10.00%
-1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% APSG -0.03 -1.00%
VII| 0-0.05
Cash Equivalents
50 – +0.04
80% Equities
| 20
– 50%
Fixed
Income
– 20%
-1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0
Cash
or Cash
Equivalents
-1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68%
+0.85
+4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12  JOSB
+0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.4
Target
Asset
Target
Target-0.40
Asset
Class
Allocation
-4.05% AREX -0.22
-4.45%
-0.11Allocation
-1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53%
-0.98 Class
-5.16%Allocation
-4.02%
-0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05
ARLClass
BHBAsset
BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX
CLRT
+2.67% WXH +0.15 +1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69% LFT -0.15 -0.84% MVC +0.82 +12.85%
SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 u
SCLN -0.03 -2.78% SNFCA -0.29 -14.26% International
International
International
CLRO
0.17
-5.36%
+3.76% FFDF
11.25 unch HIFN +0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.
U.S.
Equities
U.S.
EquitiesCNAF 15.51 unch DIT +0.83
.-8.04%
Equities
InternationalInternationalInternational Equities U.S. EquitiesU.S. Equities
Equities
8%-5.82%
EquitiesTCX
8%
Equities
8%TAST
U.S. TOFC
Equities
International
International
U.S.0.36
Equities
U.S. Equities
+0.15
+4.17%
RGDX
-0.15
-15.00%
SSE
5.75
unch 
-0.17
unch
4.75
unch TWER +0.02 +2.74% UBOH +0.04 +0.44% U.S.
UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC
-0.01 -0.06%
+0.09 +4

ACFNInternationa
22%
22%
22%
Equities 18%Equities 18%Equities 18%
47%
64%
64%
64%
Equities 26%Equities 26%Equities 26%
47%
47%
-1.73%
INVESTMENT PROCESS:
Calvert Asset Allocation Funds
Cash or CashCash or CashCash or Cash
Equivalents Equivalents Equivalents
10%
10%
10%
Cash or CashCash or CashCash or Cash
Equivalents Equivalents Equivalents
5%
5%
5%
Underlying Calvert Fund Options
Underlying Calvert Fund Options
Calvert Bond Portfolio
Calvert Green Bond Fund
Calvert Government Fund
Calvert Large Cap Core
Portfolio
Calvert Equity Portfolio
Calvert Social Index Fund
Calvert International
Equity Fund
Calvert Bond Portfolio
Calvert Green Bond Fund
Calvert Government Fund
Calvert Large Cap Core
Portfolio
Calvert Equity Portfolio
Calvert Social Index Fund
Calvert International
Equity Fund
Calvert Capital
Accumulation Fund
Calvert International
Opportunities Fund
Calvert Emerging Markets
Equity
Fund
US Small
Cap
US Small Cap
US Small Cap
Calvert Small Cap Fund
Fixed income
Fixed income
Fixed income
Calvert Global Alternative
Energy
Cash Fund Cash
Cash
Calvert Global Water Fund
Int'l stocks
Int'l stocks
Int'l stocks
Fixed IncomeFixed IncomeFixed Incom
10%
10%
10%
Fixed IncomeFixed IncomeFixed Income
30%
30%
30%
Fixed IncomeFixed IncomeFixed Income
60%
60%
60%
Underlying Calvert Fund Options
Calvert Capital
Accumulation Fund
Calvert International
Opportunities Fund
Calvert Emerging Markets
Equity FundUS Small Cap US Small Cap
Calvert Small Cap Fund
Fixed Income
Fixed Income
Calvert Global Alternative
Energy FundCash
Cash
Calvert Global Water Fund
Int'l Stocks
Int'l Stocks
Calvert Bond Portfolio
Calvert Green Bond Fund
Calvert Government Fund
Calvert Large Cap Core
Portfolio
US Calvert
Small Cap Equity Portfolio
Calvert Social Index Fund
Fixed Income
Calvert International
Cash Equity Fund
Int'l Stocks
Calvert Capital
Accumulation Fund
Calvert International
Opportunities Fund
Calvert Emerging Markets
Equity Fund
US Small Cap
Calvert Small Cap Fund
Fixed Income
Calvert Global Alternative
Energy Fund
Cash
Calvert Global Water Fund
Int'l Stocks
Fund holdings are subject to change. Asset allocation, target asset class allocation charts, and percentages are for
illustrative purposes only and represent a target allocation for each Fund. The Advisor monitors the Funds’ allocations
and may rebalance or reallocate the Funds’ assets based on its view of economic and market factors and events, or to
adjust for shifts in the style biases of the underlying funds. The Advisor also evaluates any necessary rebalancing to
reflect different target asset class allocations based on changed economic and market conditions. Each Fund is subject to
asset allocation risk, management risk, and market risk. This information should not be viewed or relied upon as advice
with respect to asset allocation or any particular investment.
May Lose Value. Not FDIC Insured. Not a Deposit. No Bank Guarantee. Not NCUA/NCUSIF Insured. No Credit Union Guarantee.
Calvert Investments is a registered trademark representing Calvert Investments, Inc. and its affiliates including Calvert
Investment Management, Inc.
US Small Cap
US S
Fixed Income
Fixe
Cash
Cash
Int'l Stocks
Int'l
TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% //////APSG -0.03 -1.00%
-1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0
-1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68% JOSB +0.85 +4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 +0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.4
-4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05
////////////////////////////////////////////////////////// CRGN +0.02 +2.67% WXH +0.15 +1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW
LFT -0.15 -0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55
+0.35% CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.04% CLRO 0.17 -5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN +0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LK
NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0
-0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS
ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0.60% HTGC -0.04 -1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68% JOSB +0.85 +4.20% 
Natalie
Trunow,
senior
Determining
long-term
strategic
theunch
first
and-0.37
most
important
-0.86% MTXX
-0.23 -1.37%
+0.39% asset
SCL -1.66allocation
-6.43% SEACis4.32
-8.92%
-6.03% SNWL -0.29 -6
-1.91% LONG +0.18 +3.51% LUFK -0.24
PSEC -0.20 -3.04%
QCOR -0.12a-2.39%
RGR +0.04
SHOR
SIGM -0.91step
+0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 vice
president
and
in-1.23%
the Calvert
(“Committee”)
to-0.05
managing
-0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02
+3.05%Allocation
+2.67% WXH +0.15
+1.61% AHPI 0.07approach
-1.33% ALDA
-0.95% CSLRthe
5.00 unch CVV -0.16 -6
DFZ +0.17Asset
CRGN +0.02 Committee’s
+0.00 +0.01% EWST -0.01 -0.10% FLL 0.09
-8.65%
+12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +
KSW -0.10 -4.69% LFT -0.15 -0.84% MVC
chief
investment
The+0.82
Committee
utilizes internal and external sources of expertise to develop
CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.04% CLRO 0.17 -5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN
AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% Funds.
officer
for equities
-0.15 -2.31%
LKI -0.07 -5.04% NUHC -0.07
-4.46%class
+0.02 +0.24% that
PW -0.03
-0.28%
+4.17%
-0.15investment
-15.00% SSE 5.75objective
unch TASTand
-0.17 -5.82% TCX 0.36 unch
INHX 0.24 unch KIRK +0.08 +2.85% LBCP
OKNallocations
RAND +0.15
RGDX
asset
are
consistent
with
each
Fund’s
-0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% ///////////////////////////// APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +
TWER +0.02 +2.74% UBOH +0.04 +0.44%
UNFY
heads
the
Calvert
-0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01align
-5.07%with
ENSG
-0.22
-1.54%
EXTR
-0.17
-13.82%
FORR
-0.13
-0.78%
HBE
-0.05
-0.75%
HMSY
+0.19
+0.60%
HTGC
funds available for investment.
As part
 the underlying


 of this process,
 the -0.04 -1.10% HTS -0.0
-0.09 -1.13% INSU -0.68
-5.39%
-1.68% JOSB +0.85 +4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 -2.39% RGR +0.04 +0.39% SCL
ITWO -0.12Committee.
Asset
Allocation
uses
combination
historical
market
information.
SUPG +0.01 +0.63%
-5.07% TIVOof
-0.35
-5.38% TTECand
-0.04current
-0.46% WIRE
-0.38 -2.23%
SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% Committee
TGa -0.77
ACTG -0.26 -10.40% ALNC -0.69 -4.05% 
Ms.-0.16
Trunow
has
-0.93% 
BCPCoverseen
-0.49 -2.53%the
ARL -0.11 -1.03% AZZ
BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05% CRGN +0.02 +2.67% 
ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN The
+0.00Committee
+0.01% EWST -0.01
-8.65% KSW -0.10 -4.69%
-0.15 -0.84%Associates.
AHPI 0.07 -1.33% Funds’
FLL 0.09
LFTIbbotson
MVC +0.82 +12.85%
PRLS -0.06 -3.64% SCLN -0
also-0.10%
considers
recommendations
from
Ibbotson
investment
strategy and
+0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.0
SNFCA -0.29 -14.26% SPAN +0.07
approaches
portfolio
construction
from
a
top-down
perspective,
developing
forecasts
-5.36% CNAF 15.51 unch
FFDFSeptember
11.25 unch HIFN
+0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW for
-0.03 -0.28% RAND +
DIT +0.83 +3.76%
management
since
2008.
unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 each
asset
class.
The+0.31
Committee
evaluates
recommendations,
+4.52% CSBK -0.21 -2.54% CY +0.31
+4.75%
DBTK
+4.75% DEP
-0.41 -2.86%Ibbotson’s
EBS -1.01 -5.07%
ENSG -0.22 -1.54% incorporating
EXTR -0.17 -13.82% FORR -0.13 -0.78% 
APSG -0.03 -1.00% ARQL -0.03 -1.00%Joshua
COBH +0.58



Linder,
-0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68% JOSB +0.85 +4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37%
HMSY +0.19 +0.60% HTGC -0.04 -1.10% HTS -0.07
Calvert’s view of the macroeconomic environment, and analysis of capital markets to
-3.04% QCOR -0.12 -2.39% RGR +0.04assistant
+0.39% SCLportfolio
-1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46
-2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03%
-0.93% BCPC
-0.49 -2.53%
-5.16% 
BKMU
-2.62%
-4.02% CLRT -0.05 -2.
AZZ -0.16
BHB -0.98
CBZ -0.37
CGNX -0.40
establish
long-term
strategic
allocation
targets
for
the-0.19
asset
classes
and-5.60%
underlying
funds.
manager
for +0.15
the Funds,
-1.23% DFZ +0.17 +3.05% /CRGN +0.02
+2.67% WXH
+1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69
-0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0
primarily
on
While the long-term strategic allocation process remains the core of the strategy, the
-8.04% CLRO 0.17 -5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN +0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5
CHMP +0.33 +21.97% CKX 11.01 unchfocuses
CLFD -0.09
-4.46% OKN +0.02 +0.24% PW -0.03 -0.28%
+4.17% RGDX -0.15 -15.00%
SSE 5.75 also
unch 
TAST -0.17
-5.82% TCX 0.36
unch TOFC
4.75 unch
+0.02 +2.74%
+0.04 +0.44%
RAND +0.15
TWER asset
UBOH
UNFY -0.20 -10.00%
quantitative
research
Committee
makes
short-term,
tactical
shifts
between
classes,
driven
by both
WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% / APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07%
and analysis
Calvert’s
internally
-1.54% EXTR -0.17 -13.82%
FORR -0.13for
-0.78%
-0.75% HMSY +0.19 +0.60%
-1.10%
-0.12 -1.68%
+0.85 +4.20% KOPN -0.03 quantitative
fundamental
insights,
an attempt
capture
returns
HBE -0.05
HTGC -0.04and
HTS -0.07 -0.32%
INFI -0.09in-1.13%
INSU -0.68to-5.39%
ITWOhigher
 JOSBand
+0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 -2.39% RGR +0.04 +0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +
managed
equity
strategies
and
reduce
risk.
The
Committee
regularly
reviews
each
asset
class
model
and
fund-specific
-0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53% BHB -0.98 -5.16% BKMU -0.1
-2.98% CNU
-0.02 -1.23% DFZ +0.17 +3.05% CRGN +0.02 +2.67% WXH +0.15 +1.61% AHPI 0.07 -1.33% ALDA -0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.0
-0.37 -5.60% CGNX -0.40
CLRTof-0.05
is a -4.02%
member
Calvert’s
Asset
portfolio to ensure they remain consistent with their stated strategic and tactical
-0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69% LFT -0.15 -0.84% MVC +0.82 +12.85% PRLS -0.06 -3.64% SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0
Allocation
Committee.
-0.15 -4.76% AWH -0.52
-1.55% BITI
+0.01 +0.35% CHMP +0.33 +21.97% CKX allocation
11.01 unch CLFD
-0.09 -8.04% CLRO 0.17 -5.36% CNAF 15.51 unch DIT +0.83 +3.76% FFDF 11.25 unch HIFN +0.01 +0.26% INHX 0.24 un
targets.
+2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.
+0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4.18% AFOP -0.01 -1.73% APSG -0.03 -1.00% ARQL -0.03 -1.00% COBH +0.58 +4.52% CSBK -0.21 -2.54% CY +0.31 +4.75% DBT
DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0.60% HTGC -0.04 -1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITW
JOSB +0.85 +4.20% KOPN -0.03 -1.91% LONG +0.18 +3.51% LUFK -0.24 -0.86% MTXX -0.23 -1.37% PSEC -0.20 -3.04% QCOR -0.12 -2.39% RGR +0.04 +0.39% SCL -1.66 -6.43% SEAC 4.32 unch SHOR -0.37 -8.92% SI
SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.40% ALNC -0.69 -4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% B
BHB -0.98 -5.16% BKMU -0.19 -2.62% CBZ -0.37 -5.60% CGNX -0.40 -4.02% CLRT -0.05 -2.98% CNU -0.02 -1.23% DFZ +0.17 +3.05% ////////////////////////////////////////////////////// CRGN +0.02 +2.67% WXH +0.15 +1.61% 
Calvert
believes
that
responsible
corporate
behavior
can+0.82
contribute
to investment
CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST
-0.01 -0.10%
-8.65%
-0.84% MVC
+12.85% PRLS
-0.06 -3.64% SCLN -0.03 -2.78% SNFCA
ALDA -0.05 -0.95% The
FLL 0.09
KSW -0.10 -4.69%
LFT -0.15
are
managed
+0.02 +3.92% funds
VSCP +0.09
+9.09%
AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 unch CLFD -0.09 -8.04% CLRO 0.17 -5.36%
SPAN +0.07 +0.85% TIII underlying
AIRT -0.22 -3.67% returns
and
mitigate
risk
over
the
long
term.
For
this
reason,
Calvert
incorporates
unch firms
INHX
0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.03 -0.28% RAND +0.15 +4.17% RGDX -0.1
DIT +0.83 +3.76% FFDF
HIFN +0.01
by 11.25
premier
with+0.26%
a high
degree
unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH
+0.04 +0.44%
-1.01%
-0.06% research
+4.18%
UNFY -0.20 -10.00%social,
VII -0.05
WVFC -0.01(ESG)
ACFN +0.09into
AFOPof-0.01
proprietary
environmental,
and
governance
many
the-1.73% APSG -0.03 -1.00%
expertise
in
a
particular
asset
-1.00% COBH +0.58 of
+4.52%
CSBK
-0.21
-2.54%
CY
+0.31
+4.75%


DBTK +0.31 +4.75% DEP -0.41 -2.86% EBS -1.01 -5.07% ENSG -0.22 -1.54% EXTR -0.17 -13.82% FORR -0.13 -0.78% HBE -0.05 -0.75% HMSY +0.19 +0
-1.10% HTS -0.07 -0.32% INFI -0.09 -1.13% INSU -0.68 -5.39% ITWO -0.12 -1.68%
JOSB
+0.85
+4.20%
KOPN
-0.03
-1.91%
LONG
+0.18
+3.51%
LUFK
-0.24
-0.86%
MTXX
-0.23
-1.37%
PSEC
-0.20 -3.04% QCOR -0.12 




underlying Funds’ security selection processes. Calvert’s team of in-house sustainability
class.
These
4.32 firms
unch include:
SHOR -0.37 -8.92% SIGM -0.91 -6.03% SNWL -0.29 -6. -82% SUPG +0.01 +0.63% TG -0.77 -5.07% TIVO -0.35 -5.38% TTEC -0.04 -0.46% WIRE -0.38 -2.23% ACTG -0.26 -10.4
+0.39% SCL -1.66 -6.43%
SEAC
analysts
evaluates
companies
seven
broad
of concern:
and-1.23% DFZ +0.17 +3.05
-4.05% AREX -0.22 -4.45% ARL -0.11 -1.03% AZZ -0.16 -0.93% BCPC -0.49 -2.53%
-5.16% BKMU
-0.19 -2.62%across
-5.60%
-0.40 -4.02%
-2.98% CNU -0.02
BHB -0.98
CBZ -0.37
CGNXareas
CLRT -0.05governance
■ Advisory
+2.67% WXH +0.15 ■
+1.61%
-1.33% ALDA
Research,
Inc.-0.05 -0.95% CSLR 5.00 unch CVV -0.16 -6.37% CYAN +0.00 +0.01% EWST -0.01 -0.10% FLL 0.09 -8.65% KSW -0.10 -4.69% LFT -0.15 -0.84% MVC +0.82 +12.85%
AHPI 0.07
ethics,
the
environment,
workplace
issues,
product
safety
and
impact,
international
SCLN -0.03 -2.78% SNFCA -0.29 -14.26% SPAN +0.07 +0.85% TIII +0.02 +3.92% VSCP +0.09 +9.09% AIRT -0.22 -3.67% AMEN -0.15 -4.76% AWH -0.52 -1.55% BITI +0.01 +0.35% CHMP +0.33 +21.97% CKX 11.01 u
■■ Atlanta
Capital
-8.04% CLRO 0.17 -5.36%
CNAF 15.51
unch Management
DIT +0.83 +3.76% FFDF 11.25 unch HIFN +0.01 +0.26% INHX 0.24 unch KIRK +0.08 +2.85% LBCP -0.15 -2.31% LKI -0.07 -5.04% NUHC -0.07 -4.46% OKN +0.02 +0.24% PW -0.
operations and human rights, Indigenous Peoples’ rights, and community relations.
+0.15 +4.17% RGDX -0.15 -15.00% SSE 5.75 unch TAST -0.17 -5.82% TCX 0.36 unch TOFC 4.75 unch TWER +0.02 +2.74% UBOH +0.04 +0.44% UNFY -0.20 -10.00% VII -0.05 -1.01% WVFC -0.01 -0.06% ACFN +0.09 +4
Company, LLC
-1.73%
MANAGEMENT TEAM
ASSET ALLOCATION INVESTMENT APPROACH
INSTITUTIONAL MONEY
MANAGEMENT EXPERTISE
ESG INTEGRATION
■■ Calvert Investment Management, Inc.
■■ Hermes Investment
Management, Ltd.
■■ Kleinwort Benson Investors,
International Ltd.
■■ Martin Currie Investment
Management, Ltd.
■■ New Amsterdam Partners, LLC
■■ Thornburg Investment
Management, Inc.
■■ Trilogy Global Advisors, LP.
Investment Risk. The Advisor’s selection of, and allocation of Fund assets to, the underlying funds may cause
the Fund to underperform. Each Fund shares the principal risks of each underlying fixed-income and equity
fund in which it invests and pays a proportionate share of the operating expenses of those funds as well as
the direct expenses of investing in the Fund. Asset allocation does not ensure a profit and may not protect
against a loss. There is no assurance that a diversified portfolio or asset allocation will achieve a better return
than a non-diversified portfolio.
The Conservative, Moderate and Aggressive Allocation Funds differ by the percentage invested in equity
funds versus fixed-income funds and cash equivalents as evidenced by the strategic asset allocation targets
outlined on the previous page. The greater the degree of equity investments in the underlying funds, the
higher the potential volatility and risk of the Allocation Fund. Thus the Aggressive Allocation Fund may
experience more price fluctuations and involve greater risk than the Moderate Allocation Fund, which in turn
may experience more price fluctuations and involve more risk than the Conservative Allocation Fund.
Ibbotson Associates is a registered investment advisor and is a wholly owned subsidiary of Morningstar, Inc. Ibbotson is not affiliated with Calvert.
For more information on any Calvert fund, please contact your financial advisor, call Calvert at 800.368.2748, or visit www.calvert.com for a free
summary prospectus and/or prospectus. Retirement plan investors should call Calvert at 800.327.2109. An investor should consider the investment
objectives, risks, charges, and expenses of an investment carefully before investing. The summary prospectus and prospectus contain this and other
information. Read them carefully before you invest or send money.
The Class A shares’ maximum sales charge is 4.75%. Calvert mutual funds are available at NAV for RIAs, wrap programs and omnibus retirement plans
with more than 300 eligible participants.
Calvert mutual funds are underwritten and distributed by Calvert Investment Distributors, Inc., member FINRA and subsidiary of
Calvert Investments, Inc., 4550 Montgomery Ave., Bethesda, Maryland 20814 IP10962-201404
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