CVMC vs SAEF
Calvert US Mid-Cap Core Responsible Index ETF vs Schwab Ariel Opportunities ETF
Which is better, CVMC or SAEF?
Each has led over a different period.
CVMC has a lower expense ratio. CVMC led over the full window, SAEF over 1Y. CVMC is less concentrated, with 5.9% of the fund in its ten largest positions against 34.6%.
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 | CVMC | SAEF |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.59% |
| AUM | $115M | $19M |
| Dividend Yield | 1.23% | 0.33% |
| Holdings | 1,184 | 59 |
| Volatility (annualized) | 15.7%Best | 24.1% |
| Max Drawdown | -22.5%Best | -27.4% |
| $10,000 over 3.5 years | $15,348Best | $10,843 |
| Top 10 Weight | 5.9%Best | 34.6% |
| Fund Family | Calvert | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Jan 30, 2023 | Nov 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 89 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. CVMC has data through Oct 14, 2026 and SAEF through Jul 17, 2026.
Volatility and max drawdown, and the $10,000 over 3.5 years row, are measured over the window both funds cover: Feb 1, 2023 to Jul 17, 2026 (3.5 years).
Risk: Volatility and Drawdowns
SAEF has been the more volatile fund, with annualized monthly volatility of 24.1% compared with 15.7% for CVMC. 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 -22.5% for CVMC and -27.4% for SAEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVMC charges 0.15% per year while SAEF charges 0.59%. On a $10,000 position that is $15 vs $59 annually, a gap of $44 per year that compounds over a long holding period. On income, CVMC currently yields 1.23% against 0.33% for SAEF.
Holdings Overlap
4.9% of CVMC's money is in holdings SAEF also owns. 42.9% of SAEF's money is in holdings CVMC also owns.
The two portfolios partly overlap.
The two holdings books were reported 185 days apart, CVMC as of Oct 2, 2026 and SAEF as of Mar 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
27 positions in common, counted across the 595 positions we hold weights for in CVMC and 58 in SAEF, against full books of 1,184 and 59.
What only one of them owns
Our book lists 29 positions for SAEF that do not appear in our book for CVMC (53.5% of the fund), and 557 for CVMC that do not appear in SAEF (93.1%).
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 CVMC | Weight in SAEF | Difference |
|---|---|---|---|
| JLLJones Lang Lasalle Inc. | 0.15% | 3.34% | 3.19% |
| NTRSNorthern Trust Corp. | 0.29% | 2.75% | 2.46% |
| FAFFirst American Corporation | 0.08% | 2.70% | 2.62% |
| KEYSKeysight Technologies Inc. | 0.60% | 2.04% | 1.44% |
| NVT:LNNvent Electric Plc | 0.28% | 2.35% | 2.07% |
| FIFiserv, Inc. (United States) | 0.25% | 2.15% | 1.90% |
| CRLCharles River Laboratories International Inc | 0.14% | 2.20% | 2.06% |
| GNRCGenerac Holdings, Inc. | 0.13% | 2.12% | 1.99% |
| MIDDMiddleby Corp Common Stock Usd.01 | 0.05% | 2.05% | 2.00% |
| CGCarlyle Group Inc. | 0.10% | 1.99% | 1.89% |
42.9% of SAEF is already inside CVMC.
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, CVMC or SAEF?
CVMC has an expense ratio of 0.15% while SAEF charges 0.59%. CVMC is the cheaper option, by $44 a year on a $10,000 investment.
Which is riskier, CVMC or SAEF?
SAEF has been the more volatile fund at 24.1% annualized versus 15.7% for CVMC. Worst drawdown: CVMC -22.5% vs SAEF -27.4%.
Should I hold both CVMC and SAEF?
CVMC and SAEF have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CVMC and SAEF?
42.9% of SAEF's money is in holdings CVMC also owns. 42.9% of SAEF's is in holdings CVMC also owns. They hold 27 positions in common, counted across the 595 positions we hold weights for in CVMC and 58 in SAEF.
Which pays a higher dividend, CVMC or SAEF?
CVMC yields 1.23% while SAEF yields 0.33%, so CVMC currently pays the higher dividend yield.
Is SAEF better than CVMC?
CVMC has a lower expense ratio. CVMC led over the full window, SAEF over 1Y. CVMC is less concentrated, with 5.9% of the fund in its ten largest positions against 34.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.