EQUITY
SECOND QUARTER 2016
Calvert U.S. Large Cap Core Responsible Index Fund*
WHY INVEST
GROWTH OF $10,000 as of (6/30/16)
Seeks to track the performance of the Calvert U.S.
Large Cap Core Responsible Index, which measures
the investment return of large-capitalization stocks.
$25,000
$20,000
www.calvert.com
INVESTMENT STRATEGY
The Fund employs a passive management strategy
designed to track, as closely as possible, the
performance of the Calvert U.S. Large Cap Core
Responsible Index. The Fund uses a replication index
method, investing in the common stock of each
company in the Index in about the same proportion
as represented in the Index. The Index is composed of
companies that meet Calvert's responsible
investment principles and are selected from the
universe of companies included in the
S-Network U.S. Large Cap 1000 Index.
FUND INFORMATION as of (6/30/16)
CLASS
TICKER
CUSIP
INCEPTION
DATE
A
C
I
Y
CSXAX
CSXCX
CISIX
CISYX
131582785
131582769
131582751
131582355
6/30/00
6/30/00
6/30/00
7/13/12
EXPENSE RATIO GROSS (%)
NET (%)
MIN INTL INV
A
C
I
Y
0.54
1.29
0.19
0.29
$5,000
$5,000
$100,000
$10,000
0.74
1.54
0.38
0.59
ASSETS
DIVIDENDS
CAPITAL GAINS
MORNINGSTAR CATEGORY
ISSUES IN PORTFOLIO
$716.15 M
ANNUALLY
ANNUALLY
LARGE BLEND
720
$15,000
$10,000
$5,000
$0
2008
2012
2016
Chart depicts the value of a hypothetical $10,000 investment in the Fund over the past 10 years (or since inception
for funds lacking 10-year history). Investment performance is for Class A shares at NAV, and assumes the
reinvestment of dividends and capital gains. The performance would have been lower if the Class A sales charges
were deducted.
PERFORMANCE as of (6/30/16)
AVERAGE ANNUAL TOTAL RETURNS
QTD
YTD
1-YR
3-YR
5-YR
10-YR
SINCE FUND
INCEPTION*
A SHARES (NAV)
A SHARES (MAX LOAD OF 4.75%)
I SHARES
Y SHARES
CALVERT U.S. LARGE CAP CORE RESPONSIBLE
INDEX
RUSSELL 1000 INDEX
LIPPER MULTI-CAP CORE FUNDS INDEX
1.53%
-3.29%
1.60%
1.58%
1.87%
-2.97%
2.05%
2.04%
-0.27%
-5.00%
0.08%
0.00%
11.04%
9.25%
11.57%
11.15%
11.80%
10.71%
12.37%
11.90%
6.65%
6.13%
7.22%
6.70%
2.63%
2.31%
3.12%
2.65%
1.66%
2.23%
0.34%
11.94% 12.72% 7.73%
3.57%
2.54%
2.18%
3.74%
3.21%
2.93% 11.48% 11.88% 7.51%
-0.60% 9.44% 9.57% 6.52%
4.57%
4.45%
Net expense ratio reflects a contractual fee waiver and/or expense reimbursement through January 31, 2017.
Performance data quoted already reflects deduction of fund operating expenses and represents past
performance, which is no guarantee of future results. The investment return and principal value of an investment
will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
Current performance may be higher or lower than the performance data quoted. Visit www.calvert.com to obtain
performance data current to the most recent month-end. Returns for periods of less than one year are not
annualized. Indices are unmanaged and reflect no deductions for fees, expenses or taxes. It is not possible to invest
in an index. Effective December 11, 2012, Calvert Investment Management, Inc. assumed responsibility for the dayto-day management of the Fund. In addition, effective June 19, 2015, Calvert Social Index Fund was renamed
Calvert U.S. Large Cap Core Responsible Index Fund to correspond with changes to the index that the Fund tracks,
including changes to the Index’s ESG criteria and adoption of a sector-constrained capitalization weighting
approach. All data prior to June 19, 2015, reflect the Index’s prior ESG criteria and index construction
methodologies. Calvert has agreed to contractually waive 0.02% of the administrative fee on Class I shares
through January 31, 2018.
SECTOR WEIGHTINGS 1 as of (6/30/16)
INFO. TECH.
HEALTH CARE
FINANCIALS
CONSUMER DISC.
INDUSTRIALS
CONSUMER STAP.
UTILITIES
MATERIALS
ENERGY
TELECOM SVCS
CASH
TOP TEN HOLDINGS as of (6/30/16)
21.2%
14.7%
14.2%
14%
11.3%
10.7%
3.9%
3.3%
3%
3%
0.7%
* Prior to June 19 2015, Calvert U.S. Large Cap Core Responsible Index Fund was named Calvert Social Index Fund.
May Lose Value. Not FDIC Insured. Not a Deposit. No Bank Guarantee. Not NCUA/NCUSIF Insured. No Credit Union Guarantee.
APPLE INC
GENERAL ELECTRIC CO W/D
ALPHABET INC CL A
MICROSOFT CORP
JOHNSON + JOHNSON
AMAZON.COM INC
PROCTER + GAMBLE CO/THE
WELLS FARGO + CO
FACEBOOK INC A
AT&T INC
2.82%
2.29%
2.26%
2.16%
2.10%
1.78%
1.74%
1.58%
1.55%
1.38%
EQUITY
LIPPER LEADER RATINGS as of (6/30/16)
★★★★
The fund received the following ratings in the Large
Blend category for Class A shares (load waived) as of
6/30/16, based on risk-adjusted returns:2
Stars
Time Period # of Funds
★★★★
3 Year
1392
★★★★
5 Year
1206
★★★
10 Year
895
★★★★
Overall
MORNINGSTAR STYLE BOX
The Morningstar Style Box™
reveals a fund's current
investment strategy. For
equity funds, the vertical
axis shows the market
capitalization of the stocks
owned; the horizontal axis
shows investment style
(value, blend, or growth).
WHAT ARE THE RISKS
Investment in mutual funds involves risk, including
possible loss of principal invested. You could lose
money on your investment in the Fund or the Fund
could underperform because of the following risks:
the market prices of stocks held by the Fund may fall.
An index fund has operating expenses; a market
index does not. Although expected to track its target
index as closely as possible while satisfying its
investment criteria, the Fund will not be able to
match the performance of the index exactly. It is not
possible to invest directly in an index. Large-cap
companies may be unable to respond quickly to new
competitive challenges, such as changes in
technology, and also may not be able to attain the
high growth rate of successful smaller companies,
especially during periods of economic expansion.
Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns, adjusted for volatility, relative
to peers as of 6/30/16. Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other
funds within the same asset class, as of 6/30/16. Preservation ratings are relative, rather than absolute, measures,
and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be
larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Expense reflect funds’
expense minimization relative to peers with similar load structures as of 6/30/16. The Calvert U.S. Large Cap Core
Responsible Index Fund, (Class A) in Lipper’s Multi-Cap Core Funds classification, received the following ratings for
the Overall, 3 , 5 and 10 year periods, respectively (number of funds rated follows the score in parentheses):
Consistent Return: Lipper Leader (622), Lipper Leader (622), Lipper Leader (544), 4 (347); Preservation: Lipper Leader
(11692), Lipper Leader (11692), Lipper Leader (9814), 4 (6167); Expense: Lipper Leader (220), Lipper Leader (220),
Lipper Leader (202), Lipper Leader (151). 3
PORTFOLIO MANAGEMENT
CALVERT INVESTMENT MANAGEMENT, INC. (ADVISOR)
Calvert Investment Management, Inc. is the investment advisor to the Calvert funds and oversees funds covering
a broad range of asset classes. Calvert's in-house Equities and Fixed Income teams manage a full spectrum of
equity and fixed income strategies. In addition, Calvert's Equities team oversees premier sub-advisors who
provide expertise in their areas of specialization.
Laurie Webster, CFA
Fund Since 2015
Industry Since 1985
Dale Stout, CFA
Fund Since 2015
Industry Since 2002
Lise Bernhard
Fund Since 2015
Industry Since 1984
ABOUT CALVERT INVESTMENTS
WHO WE ARE
Calvert Investments is a global leader in Responsible Investing. Our mission is to deliver competitive long-term
performance to our clients and enable them to achieve positive impact.
WHAT WE OFFER
Serving financial advisors and their clients, as well as a wide array of institutional investors, Calvert’s investment
strategies feature integrated environmental, social, and governance (ESG) research and corporate engagement.
HOW WE STAND APART
At Calvert Investments, our integrated responsible investment approach sets us apart from many other
investment managers.
1. Source: Indices from IDC, FactSet and Lipper. Sector weightings provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or
financial products. This report is not approved, reviewed or produced by MSCI.
2. Morningstar ratings are subject to change on a monthly basis. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance, placing more
emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next
35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the
performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. Morningstar Rating is for the A share class only; other classes
may have different performance characteristics. ©2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its
content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are
responsible for any damages or losses arising from any use of this information.
3. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return metric over 3, 5, and 10 year
periods (if applicable). The highest 20% in each peer group are named Lipper Leaders, the next 20% receive a score of 4, the middle 20% receive a score of 3, the next 20% a
score of 2, and the lowest 20% a score of 1. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More
information is available at www.lipperleaders.com. Lipper Leader Copyright 2016, Reuters, All Rights Reserved.
*Except as otherwise noted, in the Average Annual Total Returns Table, all performance results labeled Since Fund Inception are calculated from the date of inception of the
fund's earliest class of shares (the "Initial Fund Inception Date"). For share classes launched subsequent to the Initial Fund Inception Date, returns prior to the share class'
inception date are linked to the performance of that fund's Class A shares at NAV (i.e., without deduction of any front-end sales charge). Actual share class performance
would have been lower (Class C and Class R shares) or higher (Class Y and Class I shares) for any such period, depending on whether that share class has higher or lower
expenses than Class A shares. Actual share class inception dates appear under Fund Information.
Calvert funds are available at NAV for RIAs and Wrap Programs. Not all share classes are available to all investors. See a fund's prospectus for details.
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. An institutional investor 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.
Calvert mutual funds are underwritten and distributed by Calvert Investment Distributors Inc., member FINRA, a subsidiary of Calvert Investments, Inc. FS10933
Printed on New Leaf Reincarnation paper containing 100% post-consumer waste.
www.calvert.com
MORNINGSTAR RATING as of (6/30/16)