CVMC vs SNPE

CVMCBCalvert US Mid-Cap Core Responsible Index ETF

SNPEAXtrackers S&P 500 Scored & Screened ETF

In short

CVMC Most mid-cap index funds buy the middle of the market and stop there. CVMC screens it first, tracking a Calvert-built responsible index of US mid-caps for 0.15% a year.

SNPE The S&P 500 with roughly 200 names screened out, for 0.10% a year. SNPE keeps the plumbing of a plain core index fund and lets S&P's rules, not a stock picker, decide who stays in the basket.

Stated mandate

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

SNPE The fund seeks investment results that generally correspond, before fees and expenses, to the performance of its underlying index.

Why people hold it

• CVMC Follows Calvert's own responsible index (CALMID) instead of a generic mid-cap benchmark, so the screening lives in the index rules rather than in a manager's discretion.
• At 0.15% a year it charges the same as the typical fund in its US mid-cap peer group, so the values screen does not come with a premium price tag.
• Plain structure under the hood: a passive US mid-cap core stock basket in a standard 1940 Act fund, with no leverage, options overlay or exotic wrapper. It pays quarterly.

• SNPE A 0.10% expense ratio puts it in the cheap seats of the screened-index crowd, alongside XVV (0.08%) and ESGV (0.09%) and well under the group's typical fee.
• Plain index plumbing: it aims to match the S&P 500 Scored & Screened Index before fees, and it has hugged that mandate closely.
• Roughly 300 stocks, so the screen actually bites. Around 200 S&P 500 members are cut outright rather than quietly trimmed.
• A multi-billion-dollar Xtrackers fund running since 2019 with steady daily volume and quarterly payouts. Not a thin, untested launch.

Worth knowing

• CVMC Thinly traded with a modest asset base, so bid-ask spreads can run wider than the giant mid-cap trackers, especially on larger tickets.
• Competitive on cost, but not the floor: VO and SCHM cover US mid-caps for 0.03%. The gap is the price of the responsible index.
• Launched in 2023, so its record is short next to mid-cap index funds that have been compounding through multiple market cycles.

• SNPE Cutting ~200 names concentrates what's left. The megacap leaders of the parent index end up carrying even more weight here.
• The screens are S&P's, not yours. They are rules-based and reapplied at each rebalance, so the roster can shift without warning.
• Not the outright cheapest option in the group: XVV and ESGV shave a basis point or two off the fee.

Full CVMC profile⁠

Full SNPE profile⁠