Overview

Historical Returns (%) as of Sep 30, 2019

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc.
 

Fund Facts as of Nov 30, 2019

Class R6 Inception 02/01/2019
Performance Inception 07/09/2001
Investment Objective High current income and capital appreciation
Total Net Assets $217.1M
Minimum Investment $1000000
Expense Ratio (Gross)2 0.80%
Expense Ratio (Net)2,3 0.71%
CUSIP 131582272

Top 10 Holdings (%)4,5 as of Sep 30, 2019

Cablevision Systems Corp 2.81
Sprint Corp 1.67
Power Solutions 1.51
Navistar Intl Corp 1.50
GFL Environmental 1.43
Ziggo 1.35
Watcos 1.29
Asurion 1.29
Post 1.26
Clear Channel Holdings 1.23
Total 15.34
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Sep 30, 2019

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc.
 

Calendar Year Returns (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ICE BofAML U.S. High Yield Index1 57.51 15.19 4.38 15.58 7.42 2.50 -4.64 17.49 7.48 -2.26
 

Fund Facts

Expense Ratio (Gross)2 0.80%
Expense Ratio (Net)2,3 0.71%
Class R6 Inception 02/01/2019
Performance Inception 07/09/2001
Distribution Frequency Monthly

Yield Information as of Nov 30, 2019

Distribution Rate at NAV
SEC 30-day Yield7 3.79%
 

NAV History

Date NAV NAV Change
Dec 13, 2019 $26.88 $0.02
Dec 12, 2019 $26.86 $0.05
Dec 11, 2019 $26.81 $0.02
Dec 10, 2019 $26.79 $0.01
Dec 09, 2019 $26.78 $0.00
Dec 06, 2019 $26.78 $0.03
Dec 05, 2019 $26.75 $0.03
Dec 04, 2019 $26.72 $0.04
Dec 03, 2019 $26.68 -$0.02
Dec 02, 2019 $26.70 -$0.02
 

Distribution History8

Ex-Date Distribution Reinvest NAV
Nov 29, 2019 $0.13497 $26.72
Oct 31, 2019 $0.14021 $26.78
Sep 30, 2019 $0.09979 $26.81
Aug 30, 2019 $0.10755 $26.75
Jul 31, 2019 $0.10712 $26.68
Jun 28, 2019 $0.10922 $26.62
May 31, 2019 $0.11421 $26.23
Apr 30, 2019 $0.11300 $26.47
Mar 29, 2019 $0.11026 $26.27
Feb 28, 2019 $0.09603 $26.18
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History8

Ex-Date Short-Term Long-Term Reinvest NAV
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)5 as of Sep 30, 2019

Portfolio Statistics as of Sep 30, 2019

Number of Holdings 257
Effective Duration 2.38 yrs.
Average Effective Maturity 3.47 yrs.
 

Sector Breakdown (%)5 as of Sep 30, 2019

Healthcare 11.74
Technology 8.95
Cable & Satellite TV 8.37
Telecommunications 7.52
Services 5.42
Insurance 4.61
Broadcasting 4.06
Containers 3.72
Super Retail 3.61
Consumer Products 3.59
View All

Credit Quality (%)9 as of Sep 30, 2019

BBB 5.90
BB 38.75
B 42.84
CCC or Lower 11.15
Not Rated 1.36
Total 100.00
Credit ratings are categorized using S&P. If S&P does not publish a rating, then the Moody's rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.
 

Assets by Country (%)10 as of Sep 30, 2019

United States 85.55
Canada 4.30
Netherlands 2.82
Luxembourg 1.53
Ireland 1.38
Other 4.43
 

Fund Holdings5,11 as of Oct 31, 2019

Holding Coupon Rate Maturity Date % of Net Assets
United States Dollar 7.14%
Asurion 8.29% 08/04/2025 1.25%
Watco Cos LLC / Watco Finance Corp 6.38% 04/01/2023 1.24%
Sprint Corp 7.88% 09/15/2023 1.13%
Energizer Holdings Inc 7.75% 01/15/2027 1.09%
Applied Systems, Inc. 5.10% 09/19/2024 1.07%
Welbilt Inc 9.50% 02/15/2024 1.05%
Cablevision Systems Corp 5.88% 09/15/2022 1.05%
CSC Holdings LLC 5.50% 05/15/2026 1.05%
Hologic Inc 4.38% 10/15/2025 1.04%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Michael W. Weilheimer, CFA

Michael W. Weilheimer, CFA

Vice President, Calvert Research and Management
Joined Calvert Research and Management 2016

Biography

Michael Weilheimer 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.

Mike began his career in the investment management industry in 1987. He has been affiliated with the Eaton Vance organization since 1990. Before joining the Eaton Vance organization, he was an analyst specializing in distressed debt securities at Cowen & Company and later at Amroc Investments, L.P.

Mike earned a B.S. from the University at Albany - SUNY and an MBA from the University of Chicago. He is a member of the CFA Institute, the CFA Society Boston, the Dean's Advisory Board, School of Business, University at Albany - SUNY and a member of the board of trustees for the University at Albany Foundation. He is a CFA charterholder.

Mike's commentary has appeared in Barron's, The Wall Street Journal, Reuters and USA Today.

Education
  • B.S. State University of New York at Albany
  • M.B.A. Booth School of Business, University of Chicago

Experience
  • Managed Fund since 2016

 
Raphael A. Leeman

Raphael A. Leeman

Vice President, Calvert Research and Management
Joined Calvert Research and Management 2016

Biography

Raphael Leeman 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 markets. He joined Calvert Research and Management in 2016.

Raphael began his career in the investment management industry in 2003. He has been affiliated with the Eaton Vance organization since 2007. Before joining the Eaton Vance organization, he was a senior research analyst with Evergreen Investments.

Raphael earned a B.A., with honors, in economics from Oberlin College and an MBA from Harvard University.

Education
  • B.A. Oberlin College
  • M.B.A Harvard University

Experience
  • Managed Fund since 2016

 
Stephen C. Concannon, CFA

Stephen C. Concannon, CFA

Vice President, Calvert Research and Management
Joined Calvert Research and Management 2016

Biography

Stephen Concannon 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 2019.

Steve began his career in the investment management industry in 1993. He has been affiliated with the Eaton Vance organization since 2000. Before joining the Eaton Vance organization, he was a research analyst for Wellington Management.

Steve earned a B.A. from Bates College. He is a member of the CFA Society Boston and is a CFA charterholder.

Education
  • B.A. Bates College

Experience
  • Managed Fund since 2019

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2019

Commentary

Download - Last updated: Sep 30, 2019

Attribution

Download - Last updated: Nov 30, 2019

Annual Report

Download - Last updated: Sep 30, 2019

Full Prospectus

Download - Last updated: Feb 1, 2019

Holdings-1st or 3rd fiscal quarters-www.sec.gov (beginning 3/31/2019)

Download

SAI

Download - Last updated: Feb 1, 2019

Semi-Annual Report

Download - Last updated: Mar 31, 2019

Summary Prospectus

Download - Last updated: Feb 1, 2019

XBRL

Download - Last updated: Feb 19, 2019