CVSE vs. VLUE ETF Comparison

Comparison of Calvert US Select Equity ETF (CVSE) to iShares MSCI USA Value Factor (VLUE)

CVSE

Calvert US Select Equity ETF

CVSE Description

Under normal circumstances, at least 80% of the fund"s net assets (plus any borrowings for investment purposes) will be invested in the equity securities of U.S. issuers. The fund is actively managed, not designed to track a benchmark, and therefore not constrained by the composition of a benchmark. The fund primarily invests in the equity securities of large capitalization U.S. issuers that are involved in economic activities that address global environmental or societal challenges that relate to areas such as environmental sustainability and resource efficiency.

Grade (RS Rating)

Last Trade

$70.50

Average Daily Volume

945

Number of Holdings ^*

178

* may have additional holdings in another (foreign) market

VLUE

iShares MSCI USA Value Factor

VLUE Description

The investment seeks to track the performance of MSCI USA Value Weighted Index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations, before fees and expenses. The fund generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The MSCI USA Value Weighted Index (the "underlying index") is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid- capitalization stocks.

Grade (RS Rating)

Last Trade

$114.13

Average Daily Volume

324,164

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

Performance

Period	CVSE	VLUE
30 Days	2.61%	4.45%
60 Days	4.06%	5.68%
90 Days	5.46%	7.63%
12 Months	30.71%	25.66%

37 Overlapping Holdings

Symbol	Grade	Weight in CVSE	Weight in VLUE	Overlap
AKAM	D	0.14%	0.14%	0.14%
AMAT	F	0.69%	2.37%	0.69%
BBY	D	0.24%	0.38%	0.24%
BMY	B	0.41%	1.55%	0.41%
CFG	B	0.55%	0.26%	0.26%
CMI	A	1.11%	0.6%	0.6%
COF	B	0.47%	0.66%	0.47%
CSCO	B	0.75%	6.43%	0.75%
DELL	C	0.19%	0.84%	0.19%
DVA	B	0.17%	0.08%	0.08%
ES	D	0.64%	0.22%	0.22%
FITB	A	0.35%	0.21%	0.21%
FSLR	F	0.04%	0.38%	0.04%
GILD	C	0.34%	1.29%	0.34%
GM	B	1.04%	3.6%	1.04%
HBAN	A	0.28%	0.17%	0.17%
HIG	B	0.21%	0.22%	0.21%
HPE	B	0.55%	1.4%	0.55%
HPQ	B	0.27%	1.19%	0.27%
HST	C	0.05%	0.23%	0.05%
INTC	D	0.26%	3.65%	0.26%
KEY	B	0.06%	0.13%	0.06%
KNX	B	0.18%	0.19%	0.18%
MET	A	1.14%	0.46%	0.46%
MOS	F	0.28%	0.17%	0.17%
NUE	C	0.61%	0.45%	0.45%
ON	D	0.05%	0.67%	0.05%
PFE	D	0.27%	2.07%	0.27%
PRU	A	0.76%	0.45%	0.45%
RF	A	0.19%	0.2%	0.19%
SJM	D	0.4%	0.22%	0.22%
STT	A	0.4%	0.26%	0.26%
SWK	D	0.09%	0.1%	0.09%
TFC	A	0.7%	0.54%	0.54%
TWLO	A	0.12%	0.34%	0.12%
URI	B	0.68%	0.77%	0.68%
VZ	C	0.9%	2.91%	0.9%

CVSE Overweight 141 Positions Relative to VLUE

Symbol	Grade	Weight
NVDA	C	7.98%
MSFT	F	7.68%
AAPL	C	6.81%
LLY	F	2.63%
SPGI	C	2.01%
ACN	C	1.81%
MRK	F	1.73%
PH	A	1.66%
NFLX	A	1.55%
MA	C	1.54%
V	A	1.44%
ETN	A	1.42%
HD	A	1.33%
DIS	B	1.24%
VRSK	A	1.21%
NOW	A	1.11%
CRM	B	1.09%
PGR	A	1.06%
ICE	C	1.0%
CAT	B	0.94%
GIS	D	0.91%
AXP	A	0.88%
ADP	B	0.84%
TT	A	0.84%
BSX	B	0.82%
LOW	D	0.75%
AMGN	D	0.73%
TRV	B	0.72%
INTU	C	0.7%
ECL	D	0.69%
CBRE	B	0.69%
AWK	D	0.67%
ADBE	C	0.67%
OMC	C	0.65%
LIN	D	0.64%
PLD	D	0.63%
AMT	D	0.63%
SCHW	B	0.62%
SHW	A	0.61%
ITW	B	0.58%
TGT	F	0.56%
DFS	B	0.55%
AMD	F	0.52%
DE	A	0.52%
ED	D	0.49%
TXN	C	0.48%
EMR	A	0.47%
HUM	C	0.45%
JLL	D	0.43%
CDNS	B	0.43%
BALL	D	0.4%
NDAQ	A	0.4%
RMD	C	0.38%
TJX	A	0.37%
LULU	C	0.36%
ADSK	A	0.36%
STE	F	0.36%
EBAY	D	0.36%
MU	D	0.35%
DHR	F	0.35%
MKC	D	0.34%
PYPL	B	0.32%
DRI	B	0.31%
ROK	B	0.31%
A	D	0.31%
HUBS	A	0.31%
QCOM	F	0.3%
CLX	B	0.3%
IDXX	F	0.3%
MORN	B	0.3%
ULTA	F	0.29%
EW	C	0.29%
HOLX	D	0.28%
WDAY	B	0.28%
TSCO	D	0.28%
PNR	A	0.26%
IPG	D	0.26%
HAS	D	0.26%
ALNY	D	0.25%
NKE	D	0.25%
PRI	A	0.24%
MTN	C	0.23%
DAR	C	0.23%
EL	F	0.22%
MSA	D	0.22%
SNPS	B	0.22%
EXPD	D	0.22%
BFAM	D	0.21%
MSI	B	0.21%
VRTX	F	0.2%
TPR	B	0.2%
WSM	B	0.2%
DECK	A	0.2%
KLAC	D	0.19%
TROW	B	0.19%
FMC	D	0.18%
EQR	B	0.18%
WAT	B	0.18%
CTAS	B	0.18%
SCI	B	0.18%
FIS	C	0.16%
FCN	D	0.16%
EXR	D	0.15%
MTG	C	0.15%
LRCX	F	0.15%
PANW	C	0.15%
XYL	D	0.14%
VTR	C	0.14%
CNM	D	0.14%
NEE	D	0.11%
GAP	C	0.11%
G	B	0.11%
EXAS	D	0.1%
SNOW	C	0.1%
BXP	D	0.1%
MSCI	C	0.1%
REGN	F	0.1%
EA	A	0.1%
CHD	B	0.1%
RL	B	0.09%
PLNT	A	0.09%
GPC	D	0.09%
IQV	D	0.09%
TTEK	F	0.09%
VRSN	F	0.08%
MAN	D	0.08%
PODD	C	0.08%
CSGP	D	0.08%
PCTY	B	0.08%
BRX	A	0.06%
DKS	C	0.06%
RKT	F	0.06%
FICO	B	0.05%
LITE	B	0.05%
VLTO	D	0.05%
CIEN	B	0.05%
RHI	B	0.04%
ETSY	D	0.03%
CPRT	A	0.03%
HXL	D	0.03%
MRNA	F	0.02%

CVSE Underweight 111 Positions Relative to VLUE

Symbol	Grade	Weight
T	A	-6.04%
IBM	C	-3.86%
BAC	A	-2.25%
WFC	A	-1.92%
C	A	-1.78%
RTX	C	-1.77%
F	C	-1.68%
LEN	D	-1.49%
CVS	D	-1.46%
MO	A	-1.45%
GS	A	-1.43%
DHI	D	-1.4%
CI	F	-1.37%
SPG	B	-1.26%
FDX	B	-1.18%
NXPI	D	-1.12%
GLW	B	-1.1%
CTSH	B	-1.1%
TEL	B	-1.02%
ELV	F	-0.97%
PHM	D	-0.94%
VLO	C	-0.78%
PCAR	B	-0.76%
KR	B	-0.75%
KHC	F	-0.74%
WBD	C	-0.7%
ADM	D	-0.65%
PCG	A	-0.63%
JCI	C	-0.61%
FANG	D	-0.6%
CNC	D	-0.57%
WY	D	-0.55%
LHX	C	-0.53%
NTAP	C	-0.52%
AIG	B	-0.5%
EXPE	B	-0.48%
USB	A	-0.48%
D	C	-0.47%
ZM	B	-0.47%
BK	A	-0.47%
SWKS	F	-0.46%
VST	B	-0.45%
VTRS	A	-0.45%
MRO	B	-0.44%
TSN	B	-0.44%
GEN	B	-0.42%
TAP	C	-0.38%
FFIV	B	-0.37%
BLDR	D	-0.36%
OC	A	-0.36%
CTRA	B	-0.35%
FOXA	B	-0.33%
OVV	B	-0.33%
JNPR	F	-0.33%
WAB	B	-0.32%
PPL	B	-0.32%
JBL	B	-0.31%
MTB	A	-0.31%
EQT	B	-0.28%
PARA	C	-0.27%
EVRG	A	-0.27%
STLD	B	-0.27%
SSNC	B	-0.25%
DAL	C	-0.25%
LKQ	D	-0.24%
SYF	B	-0.24%
LH	C	-0.24%
TXT	D	-0.24%
UTHR	C	-0.23%
ATO	A	-0.23%
AZPN	A	-0.23%
SNA	A	-0.23%
DOW	F	-0.23%
CAG	D	-0.23%
WBA	F	-0.22%
LYB	F	-0.22%
GPN	B	-0.21%
BG	F	-0.2%
EXE	B	-0.2%
LDOS	C	-0.19%
IP	B	-0.19%
MAA	B	-0.19%
RPRX	D	-0.19%
DGX	A	-0.19%
FOX	A	-0.18%
UHS	D	-0.18%
QRVO	F	-0.18%
EG	C	-0.17%
CNH	C	-0.17%
CF	B	-0.16%
DINO	D	-0.16%
APA	D	-0.15%
SOLV	C	-0.14%
L	A	-0.13%
APTV	D	-0.13%
CPT	B	-0.13%
SW	A	-0.13%
FCNCA	A	-0.12%
EQH	B	-0.12%
ACI	C	-0.12%
LUV	C	-0.12%
UHAL	D	-0.11%
FBIN	D	-0.11%
NLY	C	-0.11%
ALLY	C	-0.1%
EMN	D	-0.1%
FNF	B	-0.09%
HII	D	-0.09%
BEN	C	-0.06%
WLK	D	-0.05%
BIO	D	-0.05%