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Trending ETFs

Name

As of 05/17/2024

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

$14.42

$367 M

5.62%

$0.81

0.68%

Vitals

YTD Return

2.3%

1 yr return

8.1%

3 Yr Avg Return

2.4%

5 Yr Avg Return

3.4%

Net Assets

$367 M

Holdings in Top 10

37.8%

52 WEEK LOW AND HIGH

$14.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 96.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/17/2024

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

$14.42

$367 M

5.62%

$0.81

0.68%

CUBIX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.42%
DIVIDENDS
  • Dividend Yield 5.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Calvert Flexible Bond Fund
  • Fund Family Name
    Calvert Investments
  • Inception Date
    Sep 30, 2014
  • Shares Outstanding
    16169890
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Vishal Khanduja

Fund Description

The Fund seeks to achieve its investment objective through a flexible investment process that allocates investments across global fixed-income markets and uses various investment strategies. The Fund is not constrained in its management relative to a stock or bond market index.

Under normal circumstances, the Fund invests at least 80% of its net assets (including borrowings for investment purposes) in bonds and/or instruments (including derivative instruments) that provide exposure to bonds. Bonds include debt securities of any maturity.

The Fund may invest, without limitation, in below-investment grade, high-yield debt securities (commonly known as “junk bonds”), including distressed securities that are in default. The Fund, however, currently does not intend to invest more than 75% of its net assets in such securities. A debt security is considered below investment grade when assigned a credit quality rating below BBB- by S&P Global Ratings (“S&P”) or an equivalent rating by another nationally recognized statistical rating organization (“NRSRO”), including Moody’s Investors Service, Inc. or Fitch Ratings, or Kroll Bond Rating Agency, LLC for securitized debt instruments only (such as asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”)), or if unrated, considered to be of comparable credit quality by the Fund’s investment adviser. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used.

The Fund’s investments may include, but are not limited to the following: bonds issued by U.S. corporations, the U.S. government or its agencies, and U.S. government-sponsored entities (e.g., the Federal National Mortgage Association (“FNMA”) and the Federal Home Loan Mortgage Corporation (“FHLMC”)); debt or debt-related securities issued by foreign governments and corporations; trust preferred securities; taxable municipal securities; ABS, including commercial mortgage-backed securities; collateralized mortgage obligations (“CMOs”); convertible bonds and other hybrid securities; investment companies, such as exchange-traded bond funds and closed-end bond funds; money market instruments; and loans.

Under normal circumstances, the average portfolio duration of the Fund will vary from negative three (-3) years to positive eight (8) years.  Average portfolio duration will vary depending on the portfolio managers’ outlook on changing market, economic, and political conditions.

The Fund may invest up to 15% of its net assets in equity securities, including preferred and common stock. The Fund may also invest in foreign securities, and up to 50% of the Fund’s net assets may be invested in securities and instruments that are tied to emerging market countries. The Fund may purchase securities denominated in foreign currencies and U.S. dollar-denominated securities of foreign issuers (including depository receipts, such as American Depositary Receipts, which are either sponsored or unsponsored and Global Depositary Receipts, that evidence ownership in underlying foreign stocks).

The Fund may invest in derivative instruments, such as options, futures contracts (including index futures contracts), foreign forward currency exchange contracts or swap agreements (including credit default swaps). The use of these derivative transactions may allow the Fund to obtain net long or short exposures to select currencies, interest rates, countries, duration or credit risks. These derivatives may be used to seek to hedge against fluctuations in securities prices, interest rates, or currency exchange rates, enhance Fund returns, increase liquidity and/or gain exposure to certain instruments or markets (e.g., the corporate bond market) in a more efficient way. In addition, the Fund may invest

in “to-be-announced” securities, including when-issued, delayed delivery and forward commitment securities, may invest in restricted securities and may engage in short sales up to 20% of its net assets. The Fund may also lend its securities.

The Fund employs an “absolute return” investment approach. This means that the Fund benchmarks itself to an index of cash instruments, rather than a stock or bond market index, and seeks to achieve returns that exceed its benchmark and are largely independent of broad movements in stocks and bonds. The Fund’s benchmark is the ICE BofA 3-Month U.S. Treasury Bill Index.

Investment decisions for the Fund are made primarily on the basis of fundamental and quantitative research conducted by the investment adviser’s research staff and consideration of the responsible investment criteria described below. Management of the Fund involves consideration of numerous factors (such as quality of business franchises, financial strength, management quality and security structural and collateral considerations). The portfolio managers may also use sector rotation and relative value strategies in their management of the Fund. The portfolio managers may sell a security when the investment adviser’s valuation target is reached, the fundamentals of the investment change or to pursue more attractive investment options. A security will also be sold (in accordance with the investment adviser’s guidelines and at a time and in a manner that is determined to be in the best interests of shareholders) if the investment adviser determines that the issuer does not operate in a manner consistent with the Fund’s responsible investment criteria. The portfolio managers intend to focus on risk management and also seek to preserve capital to the extent consistent with the Fund’s investment objectives. The Fund intends to seek to manage investment risk by maintaining broad issuer and industry diversification among its holdings, and by utilizing fundamental analysis of risk/return characteristics in securities selection. The Fund manages duration and any hedging of interest rate risk through the purchase and sale of U.S. Treasury securities and related futures contracts (which are a type of derivative instrument).

Responsible Investing. The portfolio manager(s) seek to invest in companies that manage environmental, social and governance (“ESG”) risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities. Companies are analyzed by the investment adviser’s ESG analysts utilizing The Calvert Principles for Responsible Investment (“Principles”), a framework for considering ESG factors (a copy of which is included as an appendix to the Fund’s Prospectus). Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by the investment adviser. Pursuant to the Principles, the investment adviser seeks to identify companies and other issuers that operate in a manner that is consistent with or promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, and accountable governance and transparency. The Fund generally invests in issuers that are believed by the investment adviser to operate in accordance with the Principles and may also invest in issuers that the investment adviser believes are likely to operate in accordance with the Principles pending the investment adviser’s engagement activity with such issuer.  

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CUBIX - Performance

Return Ranking - Trailing

Period CUBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -8.9% 7.3% 29.60%
1 Yr 8.1% -7.3% 26.3% 35.98%
3 Yr 2.4%* -17.2% 17.1% 14.03%
5 Yr 3.4%* -13.0% 15.1% 14.96%
10 Yr N/A* -13.6% 6.5% N/A

* Annualized

Return Ranking - Calendar

Period CUBIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.0% -12.0% 15.7% 44.79%
2022 -8.5% -31.8% 18.4% 23.92%
2021 0.2% -26.6% 25.7% 19.11%
2020 1.1% -49.2% 18.7% 57.40%
2019 3.5% -35.1% 15.3% 68.20%

Total Return Ranking - Trailing

Period CUBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -8.9% 7.3% 29.60%
1 Yr 8.1% -7.3% 26.3% 35.98%
3 Yr 2.4%* -17.2% 17.1% 14.03%
5 Yr 3.4%* -13.0% 15.1% 14.96%
10 Yr N/A* -13.6% 6.5% N/A

* Annualized

Total Return Ranking - Calendar

Period CUBIX Return Category Return Low Category Return High Rank in Category (%)
2023 8.6% -7.0% 22.2% 36.70%
2022 -3.4% -31.8% 21.1% 18.98%
2021 4.0% -13.5% 49.9% 16.64%
2020 4.4% -28.6% 24.1% 61.32%
2019 6.7% -4.8% 19.1% 70.69%

NAV & Total Return History


CUBIX - Holdings

Concentration Analysis

CUBIX Category Low Category High CUBIX % Rank
Net Assets 367 M 2.53 M 143 B 57.62%
Number of Holdings 280 4 9868 65.93%
Net Assets in Top 10 130 M -1.57 B 65.8 B 53.85%
Weighting of Top 10 37.80% 0.7% 171.7% 35.30%

Top 10 Holdings

  1. Uniform Mortgage-Backed Security, TBA 7.65%
  2. United States Treasury Note/Bond 7.34%
  3. State Street Navigator Securities Lending Government Money Market Portfolio 5.58%
  4. United States Treasury Bill 4.95%
  5. United States Treasury Note/Bond 3.18%
  6. United States Treasury Note/Bond 2.28%
  7. Uniform Mortgage-Backed Security, TBA 2.20%
  8. United States Treasury Bill 2.07%
  9. Morgan Stanley Institutional Liquidity Funds - Government Portfolio 1.51%
  10. VMC Finance 2021-HT1 LLC 1.05%

Asset Allocation

Weighting Return Low Return High CUBIX % Rank
Bonds
83.55% -150.81% 196.48% 60.75%
Other
15.06% -62.91% 100.00% 18.52%
Cash
14.11% -94.66% 258.91% 12.09%
Convertible Bonds
1.64% 0.00% 33.50% 44.43%
Preferred Stocks
0.42% 0.00% 30.46% 22.14%
Stocks
0.20% -4.18% 99.88% 53.69%

Stock Sector Breakdown

Weighting Return Low Return High CUBIX % Rank
Utilities
0.00% 0.00% 100.00% 58.76%
Technology
0.00% 0.00% 28.30% 53.88%
Real Estate
0.00% 0.00% 100.00% 60.09%
Industrials
0.00% 0.00% 100.00% 66.30%
Healthcare
0.00% 0.00% 18.60% 53.22%
Financial Services
0.00% 0.00% 100.00% 72.06%
Energy
0.00% 0.00% 100.00% 77.38%
Communication Services
0.00% 0.00% 100.00% 1.11%
Consumer Defense
0.00% 0.00% 99.97% 33.26%
Consumer Cyclical
0.00% 0.00% 89.95% 59.65%
Basic Materials
0.00% 0.00% 100.00% 54.32%

Stock Geographic Breakdown

Weighting Return Low Return High CUBIX % Rank
US
0.20% -4.11% 99.88% 51.02%
Non US
0.00% -0.07% 17.73% 55.73%

Bond Sector Breakdown

Weighting Return Low Return High CUBIX % Rank
Corporate
39.99% 0.00% 96.66% 43.84%
Securitized
39.50% 0.00% 99.65% 23.04%
Government
15.93% 0.00% 99.43% 39.68%
Cash & Equivalents
14.11% 0.00% 74.29% 11.65%
Municipal
0.00% 0.00% 54.26% 64.00%
Derivative
-0.27% -62.91% 37.37% 76.85%

Bond Geographic Breakdown

Weighting Return Low Return High CUBIX % Rank
US
82.76% -151.11% 196.48% 43.01%
Non US
0.79% 0.00% 67.77% 58.87%

CUBIX - Expenses

Operational Fees

CUBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.03% 20.67% 84.66%
Management Fee 0.47% 0.00% 2.29% 21.18%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.12% 0.00% 0.70% 55.87%

Sales Fees

CUBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CUBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

CUBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 96.00% 0.00% 632.00% 63.16%

CUBIX - Distributions

Dividend Yield Analysis

CUBIX Category Low Category High CUBIX % Rank
Dividend Yield 5.62% 0.00% 13.03% 37.48%

Dividend Distribution Analysis

CUBIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

CUBIX Category Low Category High CUBIX % Rank
Net Income Ratio 2.42% -1.55% 10.56% 68.42%

Capital Gain Distribution Analysis

CUBIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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CUBIX - Fund Manager Analysis

Managers

Vishal Khanduja


Start Date

Tenure

Tenure Rank

Sep 30, 2014

7.67

7.7%

Vishal Khanduja 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. He joined Calvert Research and Management in 2016. Vishal began his career in the investment management industry in 2005. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a senior vice president, portfolio manager and head of taxable fixed income for Calvert Investments. Previously, he was a vice president and portfolio manager at Columbia Threadneedle and associate director of fixed-income analytics at Galliard Capital. Vishal earned a bachelor of engineering from VJTI, Mumbai, India and an MBA from the Tippie School of Management at the University of Iowa. He is a member of the CFA Institute and the CFA Society of Boston. He is a CFA charterholder.

Brian Ellis


Start Date

Tenure

Tenure Rank

Sep 30, 2014

7.67

7.7%

Brian Ellis 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. He joined Calvert Research and Management in 2016. Brian began his career in the investment management industry in 2006. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a portfolio manager of fixed-income strategies for Calvert Investments. Previously, he was a software engineer and analyst at Legg Mason Capital Management (now ClearBridge Investments). Brian earned a B.S. in finance from Salisbury University. He is a CFA charterholder and an FSA credential holder. He is a member of the CFA Institute and the CFA Society of Boston.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.78 3.19