CVLC vs MSLC
Calvert US Large-Cap Core Responsible Index ETF vs Morgan Stanley Pathway Large Cap Equity ETF
Which is better, CVLC or MSLC?
Nearly the same fund. CVLC costs less.
CVLC has a lower expense ratio. CVLC led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CVLC | MSLC |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.39% |
| AUM | $1.0B | $4.1B |
| Dividend Yield | 0.93% | 1.95% |
| Holdings | 1,511 | 793 |
| YTD Return | +12.83%Best | +10.97% |
| 1Y Return | +17.38%Best | +14.08% |
| 3Y Return (annualized) | +22.00% | - |
| Volatility (annualized) | 13.3% | 11.9%Best |
| Max Drawdown | -19.9% | -17.9%Best |
| $10,000 over 1.8 years | $12,658Best | $12,375 |
| Top 10 Weight | 38.2% | 35.6%Best |
| Fund Family | Calvert | Morgan Stanley |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 30, 2023 | Dec 9, 2024 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 14, 2026 (1.8 years).
CVLC vs MSLC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.8 years both funds cover.
CVLC vs MSLC Performance
Calvert US Large-Cap Core Responsible Index ETF (CVLC) is an ETF from Calvert and Morgan Stanley Pathway Large Cap Equity ETF (MSLC) is an ETF from Morgan Stanley. Over the past year CVLC returned +17.38% while MSLC returned +14.08%. Year to date, CVLC is up 12.83% versus a gain of 10.97% for MSLC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVLC has been the more volatile fund, with annualized monthly volatility of 13.3% compared with 11.9% for MSLC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.9% for CVLC and -17.9% for MSLC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CVLC charges 0.15% per year while MSLC charges 0.39%. On a $10,000 position that is $15 vs $39 annually, a gap of $24 per year that compounds over a long holding period. On income, CVLC currently yields 0.93% against 1.95% for MSLC.
Holdings Overlap
95.2% of CVLC's money is in holdings MSLC also owns. 78.3% of MSLC's money is in holdings CVLC also owns.
Most of CVLC is already inside MSLC. Owning both mostly buys the same companies twice.
558 positions in common, counted across the 759 positions we hold weights for in CVLC and 789 in MSLC, against full books of 1,511 and 793.
What only one of them owns
Our book lists 149 positions for MSLC that do not appear in our book for CVLC (18.8% of the fund), and 186 for CVLC that do not appear in MSLC (4.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CVLC | Weight in MSLC | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.80% | 7.04% | 0.76% |
| AAPLApple, Inc | 7.03% | 5.80% | 1.23% |
| MSFTMicrosoft Corp | 5.49% | 5.55% | 0.06% |
| GOOGLAlphabet Inc | 5.35% | 3.23% | 2.12% |
| AMZNAmazon.Com Inc | 3.63% | 4.07% | 0.44% |
| AVGOBroadcom Inc | 2.48% | 2.49% | 0.01% |
| MUMicron Technology, Inc. | 1.88% | 1.60% | 0.28% |
| JPMJpmorgan Chase | 1.38% | 1.61% | 0.23% |
| LLYEli Lilly & Co. | 1.52% | 1.05% | 0.47% |
| AMDAdvanced Micro Devices Inc | 1.66% | 0.88% | 0.78% |
95.2% of CVLC is already inside MSLC.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CVLC or MSLC?
CVLC has an expense ratio of 0.15% while MSLC charges 0.39%. CVLC is the cheaper option, by $24 a year on a $10,000 investment.
Which performed better, CVLC or MSLC?
Over the past year CVLC returned +17.38% vs +14.08% for MSLC, so CVLC leads on 1-year performance. Over the longest common window we track (2 years), CVLC annualized +13.99% vs +12.57% for MSLC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CVLC or MSLC?
CVLC has been the more volatile fund at 13.3% annualized versus 11.9% for MSLC. Worst drawdown: CVLC -19.9% vs MSLC -17.9%.
Should I hold both CVLC and MSLC?
CVLC and MSLC have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between CVLC and MSLC?
95.2% of CVLC's money is in holdings MSLC also owns. 78.3% of MSLC's is in holdings CVLC also owns. They hold 558 positions in common, counted across the 759 positions we hold weights for in CVLC and 789 in MSLC.
Which pays a higher dividend, CVLC or MSLC?
CVLC yields 0.93% while MSLC yields 1.95%, so MSLC currently pays the higher dividend yield.
Is MSLC better than CVLC?
CVLC has a lower expense ratio. CVLC led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.