CVLC vs USCL

CVLCBCalvert US Large-Cap Core Responsible Index ETF

USCLAiShares Climate Conscious & Transition MSCI USA ETF

In short

CVLC A plain US large-cap core index fund wearing a Calvert conscience. It tracks the Calvert US Large-Cap Core Responsible Index, so the big-company exposure is familiar and the screening happens inside the index rather than as a bolt-on.

USCL Most ESG index funds work by exclusion. USCL scores roughly 400 US large and mid caps on where they're heading instead: emissions intensity, reduction targets, green revenue. And it charges 0.08% a year to do it.

Stated mandate

CVLC The Fund seeks to track the performance of the Calvert US Large-Cap Core Responsible Index.

USCL The Fund seeks to track an index of U.S. large- and mid-capitalization companies selected for their relative positioning on the transition to a low-carbon economy, using climate-related measures such as emissions intensity, reduction targets, green-business revenue, and climate-risk management.

Why people hold it

• CVLC Values screening without leaving the core: it tracks the Calvert US Large-Cap Core Responsible Index, so responsible criteria are built into the benchmark rather than layered on by a manager.
• 0.15% a year, in the same neighborhood as the typical US large-cap fund. Screened index products often ask for more.
• Does exactly what the prospectus says: a US equity, index-tracking fund in a standard 1940 Act wrapper, with no factor tilt advertised on the side.
• Rates in the upper half of its US large-cap peer group, mostly on how faithfully it delivers its stated mandate.

• USCL At 0.08% a year, it matches the cheapest fund in its ESG cohort (XVV) and undercuts ESGV, SNPE, EFIV and ESGU.ishares.com
• The index doesn't just screen out offenders. It selects on transition evidence: emissions intensity, reduction targets, green-business revenue, climate-risk management.ishares.com
• About 400 US large and mid caps, so it reads as core equity exposure with a climate tilt, not a narrow clean-energy sector bet.
• A multi-billion-dollar iShares fund that sticks tightly to the MSCI USA Extended Climate Action Index, one of the cleaner implementations in its peer group.

Worth knowing

• CVLC The unscreened giants are cheaper. SCHX and VV charge 0.03%, and BKLC lists a 0% fee. The responsible index is what you are paying the difference for.
• Thinly traded and mid-sized by ETF standards, so bid-ask spreads can be wider than the household-name large-cap funds.
• Launched in 2023, so the track record is short. A screened index also holds a different roster than the full market, and results can drift from it in either direction.

• USCL Trading is thin for a fund this size, so spreads can widen. Limit orders are the standard tool here.
• Climate scoring reshapes the sector and name mix, so results can diverge from a plain US large-cap index in either direction.
• Launched in 2023, so its history is short next to the older ESG funds it competes with.

Full CVLC profile⁠

Full USCL profile⁠