CVIE vs VSGX: Grades, Fees and Holdings Compared

Calvert International Responsible Index ETF

CVIEBNYSE Arca

Vanguard ESG International Stock ETF

VSGXACboe

Overlap

60.7%by weight

Expense ratio

VSGX −0.08pt a year

CVIE0.18%VSGX0.10%

Avg volume · 30D

VSGX 6.8×the volume

CVIE24.6KVSGX166K

3Y return · a year

CVIE +2.1pt

CVIE+22.8%VSGX+20.7%

CVIE vs VSGX Performance

Oct 31, 2025 – Oct 30, 2026

+17.9%CVIE+14.4%VSGX

Expense ratio: CVIE 0.18%; VSGX 0.10%, better
Fund size: CVIE $502M; VSGX $6.7B
1Y total return: CVIE +17.9%, better; VSGX +14.4%
Yield (12M): CVIE 2.47%; VSGX 3.11%, better
Holdings: CVIE 741; VSGX 6667
Avg volume (30D): CVIE 24.6K sh; VSGX 166K sh, better
NAV per share: CVIE $80.89; VSGX $77.91
52W range

ETF.net Grade

Pillar letters and Scores for CVIE, VSGX, with each pillar’s weight
Pillar	CVIE	VSGX
Cost30% weight	A76	A100Higher
Mission25% weight	B64	A100Higher
Risk15% weight	C44	C49Higher
Tradability15% weight	C40	B64Higher
Holdings10% weight	C54	B60Higher
Durability5% weight	C53	A92Higher

Rank among International ESG & Values Index funds

How we build Categories ›

Same Category. CVIE and VSGX are both graded against the same 18 International ESG & Values Index funds, so their Grades compare head to head.

International ESG & Values Index⁠

Category · 18 funds

See all 18 ›

VSGX ranks 1st and CVIE 9th of 18 funds in the International ESG & Values Index Category.

Rank 1AVSGXVanguard ESG International Stock ETFScore 82
Rank 2AESGDiShares ESG Aware MSCI EAFE ETFScore 79
Rank 7BNUDMNuveen ESG International Developed Markets EquityScore 60
Rank 9BCVIECalvert International Responsible Index ETFScore 59
Rank 9BDFSIDimensional International Sustainability Core 1 ETFScore 59

Our read on each fund

ETF.net Research

CVIEBCalvert International Responsible Index ETF

VSGXAVanguard ESG International Stock ETF

In short

CVIE A responsible-investing take on developed markets outside the US, built on Calvert's own index rather than a licensed screen, for 0.18% a year. That is roughly half the typical fee in its peer group.

VSGX Most ex-US ESG funds stop at big developed-market names. VSGX casts a wider net: large, mid and small caps across developed and emerging markets, minus the industries its index screens out, for 0.10% a year.

Stated mandate

CVIE The Fund seeks to track the Calvert International Responsible Index. It uses passive indexing and invests primarily in securities represented by that index.

VSGX The Fund seeks to track an index of large-, mid-, and small-capitalization stocks from developed and emerging markets outside the United States, subject to environmental, social, and corporate-governance screening.

Why people hold it

CVIE 0.18% a year: roughly half the typical fee among the international index funds we track, and level with unscreened GXUS.
The screen is in-house. It tracks the Calvert International Responsible Index, so the research and the fund come from the same shop, not a rented third-party benchmark.
Straightforward build: a registered 1940 Act fund that passively indexes developed-market stocks, with cash paid out quarterly.
Lands in the upper half of its international index-fund peer group on our review.

VSGX 0.10% a year, well under half the typical fee in its international ESG peer group. Vanguard's usual move: undercut the room.
Reaches past the usual EAFE box, holding thousands of stocks across developed and emerging markets. EAFE-based rivals like ESGD and DMXF cover developed large and mid caps only.msci.com
The screen is FTSE's rulebook, not Vanguard's opinion: out go fossil fuel reserves, weapons, tobacco, alcohol, gambling, adult entertainment and nuclear power, plus conduct flags.ftserussell.com
What survives the screen stays market-cap weighted, with no factor tilts or manager stock picks. Distributions land quarterly.lseg.com

Worth knowing

CVIE Thinly traded next to the category's giants, so the spread and a limit order matter more here.
Developed markets only, and it opened in 2023: no emerging-market sleeve, and a short record to judge.
Cheap for a screened fund, but broad unscreened rivals go lower. VXUS charges 0.05%.

VSGX Cutting oil, gas, coal, nuclear and weapons names removes whole slices of the market, so results can drift from a plain ex-US index in either direction.ftserussell.com
Emerging markets, small caps and foreign currency all ride along, which can mean wider swings than a developed large-cap-only ex-US fund.
It de-selects rather than rewards: clearing the screen isn't the same as being a sustainability leader, and there's no carbon or Paris-alignment target.lseg.com

Full CVIE profile⁠

Full VSGX profile⁠

CVIE vs VSGX Holdings

How CVIE and VSGX differ

Overlap by weight

60.7%

Shared holdings make up 77.1% of CVIE and 63.3% of VSGX.

Level by level

Holdings546 in both60.7%
Countryby domicile79.1%
Sector11 Sectors88.7%
Asset classEquity100%

Sector

Sector weights in CVIE and VSGX, widest gap first
Sector	More in CVIEMore in VSGX	CVIE	VSGX
Industrials	CVIE +6.6 points	14.8%	8.2%
Technology	VSGX +3.7 points	24.4%	28.1%
Financials	VSGX +2.7 points	25.6%	28.3%
Utilities	CVIE +2.6 points	3.2%	0.6%
Consumer Discretionary	VSGX +2.6 points	5.6%	8.2%
Real Estate	VSGX +1.5 points	1.2%	2.7%
Energy	CVIE +0.9 points	1.0%	0.1%
Consumer Staples	CVIE +0.8 points	5.5%	4.7%
Health Care	VSGX +0.8 points	8.2%	9.0%
Materials	CVIE +0.3 points	6.3%	6.0%
Communication	VSGX +0.2 points	4.0%	4.2%

Country, concentration and asset class

Country by domicile

Country weights in CVIE and VSGX, widest gap first
Country	More in CVIEMore in VSGX	CVIE	VSGX
China	VSGX +6.5 points	0.3%	6.8%
India	VSGX +3.9 points	0.0%	3.9%
Canada	CVIE +3.8 points	10.2%	6.4%
United Kingdom	CVIE +3.5 points	9.4%	5.9%
France	CVIE +3.1 points	6.0%	2.9%
South Africa	VSGX +3.1 points	0.0%	3.1%
Switzerland	CVIE +2.6 points	7.9%	5.3%
Germany	CVIE +2.3 points	6.4%	4.1%
Other countries (31)	VSGX +1.8 points	59.8%	61.6%

Outside the US: CVIE 81% developed, 19% emerging. VSGX 61% developed, 39% emerging.

Concentration

Weight in the 10 largest Holdings

CVIE19.3%
VSGX18.1%

Securities held

CVIE726
VSGX6,625

Asset class

CVIE: Equity
VSGX: Equity

Holdings

Only in CVIE180
In both546
Only in VSGX6,079

Only in CVIE

180 securities, 22.7% of CVIE by weight

Hsbc Holdings PLC Common1.02%
Siemens AG Common Stock0.87%
Toronto-Dominion Bank/The0.80%
Schneider Electric SE0.61%
Iberdrola SA Common Stock0.57%
Rolls-Royce Holdings PLC0.57%
Hitachi Ltd Common Stock0.51%
Abb Ltd Common Stock Chf0.51%
Air Liquide SA Common0.51%
Siemens Energy AG Common0.43%
Safran SA Common Stock0.42%
Bae Systems PLC0.37%
Canadian Pacific Kansas0.36%
Anglo American PLC Common0.35%
Repsol SA Common Stock0.34%
Cie Financiere Richemont0.33%
Enel Spa Common Stock Eur0.32%
National Grid PLC Common0.32%
Brookfield Corp Common0.32%
Lvmh Moet Hennessy Louis0.31%
Spotify Technology SA0.31%
Itochu Corp Common Stock0.30%
Canadian National Railway0.29%
Muenchener0.29%
Teck Resources Ltd Common0.28%
Anheuser-Busch Inbev0.28%
Nxp Semiconductors NV0.26%
Mitsubishi Heavy0.26%
Holcim AG Common Stock0.26%
Cameco Corp Common Stock0.23%
Mitsubishi Electric Corp0.23%
Argenx SE0.23%
Cie De Saint-Gobain SA0.23%
Vinci SA Common Stock Eur0.23%
Alimentation Couche-Tard0.22%
Ferrari NV Common Stock0.20%
Constellation Software0.19%
Engie SA Common Stock Eur0.19%
Nordea Bank Abp Common0.17%
Heidelberg Materials AG0.17%
Diageo PLC Common Stock0.17%
Orix Corp Common Stock0.16%
Sse PLC Common Stock Gbp0.16%
Prysmian Spa Common Stock0.15%
E.on SE Common Stock Eur0.15%
SOUTH32 Ltd Common Stock0.15%
Komatsu Ltd Common Stock0.15%
Marubeni Corp Common0.14%
Garmin Ltd Common Stock0.14%
Nebius Group NV Common0.14%

Only in VSGX

6,079 securities, 36.4% of VSGX by weight

SLCMT11421.12%
Alibaba Group Holding Ltd0.78%
Samsung Electronics-Pref0.35%
China Construction Bank Corp0.34%
Hon Hai Precision Industry Co Ltd0.29%
HDFC Bank Ltd0.26%
Industrial & Commercial Bank of China Ltd0.24%
ICICI Bank Ltd0.22%
L'Oreal SA0.19%
Nordea Bank Abp0.19%
Deutsche Bank AG0.19%
Argenx SE0.18%
Wheaton Precious Metals Corp0.18%
Pdd Holdings Inc0.18%
Bharti Airtel Ltd0.17%
Xiaomi Corp0.17%
Bayer AG0.16%
Bank of China Ltd0.16%
Basf SE0.15%
Meituan0.15%
Al Rajhi Bank0.15%
Itau Unibanco Holding S-Pref0.14%
Teva Pharmaceutical Industries Ltd0.14%
Ferrari NV0.14%
NetEase Inc0.13%
Ping An Insurance Group Co of China Ltd0.13%
Anglogold Ashanti Plc0.12%
Nan Ya Plastics Corp0.12%
Honda Motor Co Ltd0.12%
Infosys Ltd0.11%
Bank Leumi Le-Israel BM0.11%
BYD Co Ltd0.11%
Sandoz Group AG0.11%
STMicroelectronics NV0.10%
JD.com Inc0.10%
Gold Fields Ltd0.10%
Fairfax Financial Holdings Ltd0.10%
Naspers Ltd0.10%
Saudi National Bank/The0.09%
Teck Resources Ltd0.09%
FirstRand Ltd0.09%
Kuwait Finance House KSCP0.09%
OTP Bank Nyrt0.09%
Axis Bank Ltd0.09%
Atlas Copco AB0.09%
Emaar Properties PJSC0.09%
Bajaj Finance Ltd0.08%
Powszechna Kasa Oszczednosci Bank Polski SA0.08%
AIB Group PLC0.08%
adidas AG0.08%

Weight gaps

The 100 widest of 546 Holdings in both funds.

Holding weights in CVIE and VSGX, widest gap first
Holding	More in CVIEMore in VSGX	CVIE	VSGX
Shopify Inc Common Stock	VSGX +0.52 points	0.03%	0.55%
Roche Holding AG Common	CVIE +0.39 points	1.28%	0.89%
Astrazeneca PLC CommonAZN.L	CVIE +0.34 points	1.08%	0.74%
Sap SE Common Stock Eur 0	CVIE +0.30 points	0.92%	0.62%
L'oreal SA Common Stock	CVIE +0.28 points	0.39%	0.11%
Novartis AG Common Stock	CVIE +0.28 points	1.09%	0.81%
Nestle SA Common Stock	CVIE +0.27 points	0.98%	0.71%
Royal Bank of Canada	CVIE +0.20 points	1.04%	0.84%
Northern Star Resources	CVIE +0.18 points	0.25%	0.07%
Recruit Holdings Co Ltd	CVIE +0.18 points	0.62%	0.44%
Commonwealth Bank of	CVIE +0.18 points	0.71%	0.53%
Samsung Electronics Co	CVIE +0.17 points	2.93%	2.76%
Unilever PLC Common StockULVR.L	CVIE +0.15 points	0.54%	0.39%
Sk Hynix Inc Common Stock	VSGX +0.16 points	2.10%	2.26%
Geberit AG Common Stock	CVIE +0.15 points	0.21%	0.06%
Atlas Copco Ab Common	CVIE +0.15 points	0.30%	0.15%
Canadian Imperial Bank of	CVIE +0.15 points	0.46%	0.31%
Delta Electronics Inc	VSGX +0.14 points	0.27%	0.41%
Allianz SE Common Stock	CVIE +0.14 points	0.68%	0.54%
Manulife Financial Corp	CVIE +0.13 points	0.35%	0.22%
Kingspan Group PLC Common	CVIE +0.13 points	0.18%	0.05%
Bank of Nova Scotia/The	CVIE +0.13 points	0.47%	0.34%
Advantest Corp Common	CVIE +0.12 points	0.61%	0.49%
Agnico Eagle Mines Ltd	CVIE +0.13 points	0.41%	0.28%
Evolution Mining Ltd	CVIE +0.11 points	0.17%	0.06%
Tesco PLC Common StockTSCO.L	CVIE +0.11 points	0.23%	0.12%
Bank of Montreal Common	CVIE +0.11 points	0.47%	0.36%
Anz Group Holdings Ltd	CVIE +0.12 points	0.36%	0.24%
Csl Ltd Common Stock Aud	CVIE +0.11 points	0.30%	0.19%
Loblaw Cos Ltd Common	CVIE +0.11 points	0.18%	0.07%
James Hardie Industries	CVIE +0.11 points	0.15%	0.04%
Gsk PLC Common Stock GbpGSK.L	CVIE +0.11 points	0.40%	0.29%
Yuanta Financial Holding	CVIE +0.10 points	0.18%	0.08%
Waste Connections Inc	CVIE +0.10 points	0.22%	0.12%
Boliden Ab Common Stock	CVIE +0.11 points	0.15%	0.04%
Kinross Gold Corp Common	CVIE +0.10 points	0.19%	0.09%
Power Corp of Canada	CVIE +0.10 points	0.20%	0.10%
Lundin Mining Corp Common	CVIE +0.10 points	0.15%	0.05%
Sony Group Corp Common	CVIE +0.09 points	0.52%	0.43%
Fortescue Ltd Common	CVIE +0.10 points	0.15%	0.05%
Investor Ab Common Stock	CVIE +0.09 points	0.30%	0.21%
National Australia Bank	CVIE +0.09 points	0.35%	0.26%
Takeda Pharmaceutical Co	CVIE +0.09 points	0.27%	0.18%
Bluescope Steel Ltd	CVIE +0.09 points	0.12%	0.03%
Sanofi SA Common Stock	CVIE +0.09 points	0.36%	0.27%
Antofagasta PLC CommonANTO.L	CVIE +0.09 points	0.14%	0.05%
Mediatek Inc Common Stock	VSGX +0.09 points	0.60%	0.69%
Ssab Ab Common Stock Sek	CVIE +0.08 points	0.09%	<0.01%
Genmab A/S	CVIE +0.08 points	0.14%	0.06%
Bank Hapoalim Bm Common	CVIE +0.08 points	0.18%	0.10%
Dollarama Inc Common	CVIE +0.08 points	0.18%	0.10%
Westpac Banking Corp	CVIE +0.08 points	0.33%	0.25%
Macquarie Group Ltd	CVIE +0.08 points	0.26%	0.18%
Wesfarmers Ltd Common	CVIE +0.08 points	0.26%	0.18%
Coca-Cola EuropacificCCEP.L	CVIE +0.08 points	0.14%	0.06%
Compass Group PLC CommonCPG.L	CVIE +0.08 points	0.23%	0.15%
Deutsche Boerse AG Common	CVIE +0.07 points	0.25%	0.18%
Dsm-Firmenich AG Common	CVIE +0.08 points	0.14%	0.06%
Fubon Financial Holding	CVIE +0.07 points	0.19%	0.12%
Axa SA Common Stock Eur	CVIE +0.07 points	0.31%	0.24%
Relx PLC Common Stock GbpREL.L	CVIE +0.07 points	0.25%	0.18%
Essilorluxottica SA	CVIE +0.07 points	0.22%	0.15%
Taiwan Mobile Co Ltd	CVIE +0.07 points	0.09%	0.02%
Dbs Group Holdings Ltd	CVIE +0.07 points	0.44%	0.37%
Goodman Group Stapled	CVIE +0.07 points	0.18%	0.11%
Sun Life Financial Inc	CVIE +0.07 points	0.20%	0.13%
Schindler Holding AG	CVIE +0.06 points	0.08%	0.02%
Woolworths Group Ltd	CVIE +0.07 points	0.17%	0.10%
Danone SA Common Stock	CVIE +0.06 points	0.19%	0.13%
Ctbc Financial Holding Co	CVIE +0.06 points	0.18%	0.12%
Toyota Motor Corp Common	CVIE +0.07 points	0.65%	0.58%
Mega Financial Holding Co	CVIE +0.06 points	0.12%	0.06%
Transurban Group Stapled	CVIE +0.06 points	0.15%	0.09%
Banco Santander SA Common	VSGX +0.07 points	0.54%	0.61%
Dhl AG Common Stock Eur 0	CVIE +0.06 points	0.24%	0.18%
Givaudan SA Common Stock	CVIE +0.07 points	0.16%	0.09%
Taiwan Semiconductor	VSGX +0.07 points	5.72%	5.79%
Sumitomo Mitsui Financial	CVIE +0.07 points	0.55%	0.48%
Halma PLC Common StockHLMA.L	CVIE +0.06 points	0.11%	0.05%
Ts Financial Holding Co	CVIE +0.06 points	0.15%	0.09%
Dcc Energy PLC CommonDCC.L	CVIE +0.06 points	0.08%	0.02%
Nova Ltd Common Stock USD	CVIE +0.05 points	0.09%	0.04%
Alcon AG Common Stock Chf	CVIE +0.06 points	0.15%	0.09%
Norsk Hydro Asa Common	CVIE +0.06 points	0.09%	0.03%
Mitsubishi Chemical Group	CVIE +0.06 points	0.09%	0.03%
Far Eastone	CVIE +0.05 points	0.07%	0.02%
Kddi Corp Common Stock	CVIE +0.05 points	0.21%	0.16%
Alamos Gold Inc Common	CVIE +0.06 points	0.10%	0.04%
Metro Inc/Cn Common Stock	CVIE +0.05 points	0.09%	0.04%
Novo Nordisk A/S Common	CVIE +0.05 points	0.42%	0.37%
Nomura Holdings Inc	CVIE +0.05 points	0.14%	0.09%
Hydro One Ltd Common	CVIE +0.06 points	0.09%	0.03%
Cathay Financial Holding	CVIE +0.06 points	0.16%	0.10%
E.sun Financial Holding	CVIE +0.05 points	0.12%	0.07%
Evergreen Marine Corp	CVIE +0.06 points	0.08%	0.02%
Kyocera Corp Common Stock	CVIE +0.05 points	0.14%	0.09%
Sage Group Plc/TheSGE.L	CVIE +0.05 points	0.09%	0.04%
Volvo Ab Common Stock Sek	CVIE +0.06 points	0.20%	0.14%
Chunghwa Telecom Co Ltd	CVIE +0.05 points	0.10%	0.05%
Standard Life PLC CommonSDLF.L	CVIE +0.05 points	0.08%	0.03%

All CVIE holdings⁠All 6,429 VSGX holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CVIE vs VSGX Cost

Overpaying CVIE vs VSGX

$1,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CVIE 0.18%
$3,749
VSGX 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

CVIE 0.18%
VSGX 0.10%
Overpaying

Year by year

Year	CVIE	VSGX	Overpaying
10	$328	$183	$145
20	$1,281	$717	$564
30	$3,749	$2,106	$1,643

Expense ratio

0.18%CVIE
0.10%VSGX, cheaper

VSGX0.10%CVIE0.18%

0.10%0.95%

Middle half of International ESG & Values Index funds
Median 0.23%

VSGX cheapest of 18 funds

CVIE 5th cheapest of 18 funds

CVIE vs VSGX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CVIE 2.47%; VSGX 3.11%, better
Payout (12M): CVIE $1.99; VSGX $2.43
Last payment: CVIE $0.25; VSGX $0.47
Ex-dividend: CVIE Sep 21, 2026; VSGX Sep 18, 2026
Paid on: CVIE Sep 25, 2026; VSGX Sep 22, 2026
Frequency: CVIE Quarterly; VSGX Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

CVIEQuarterly · 15 paymentsAll CVIE payments⁠

VSGXQuarterly · 31 paymentsAll VSGX payments⁠

CVIE vs VSGX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CVIE 13.9%VSGX 12.8%, better
Return per unit of riskSharpe ratio, 3 years: CVIE 1.24, betterVSGX 1.20
Worst fallMax drawdown, 5 years: CVIE −13.5%since Feb 2023VSGX −31.2%
Market sensitivityBeta, 5 years: CVIE 1.10VSGX 0.97; Market = 1

CVIE and VSGX in the news

All news⁠

ETF Filings
Calamos to liquidate its Giannis Antetokounmpo sustainable ETF
Sep 11, 2026VSGX

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CVIE vs VSGX

In short

Stated mandate

Why people hold it

Worth knowing

How CVIE and VSGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CVIE

Only in VSGX

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Calamos to liquidate its Giannis Antetokounmpo sustainable ETF

How CVIE and VSGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CVIE

Only in VSGX

Weight gaps