Calvert Short Duration Income Fund
Calvert Fund · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Calvert Short Duration Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2026 Q1
The Funds investment objective is to seek to maximize income, to the extent consistent with preservation of capital, through investment in short-term bonds and income-producing securities.
The fund invests at least 65% of its net assets in investment-grade U.S. dollar-denominated debt securities issued by corporations, the U.S. government, and government-sponsored enterprises, with an average portfolio duration of one to three years, and may allocate up to 35% to high-yield debt and up to 25% to foreign debt securities. The portfolio managers apply fundamental and quantitative research alongside environmental, social, and governance analysis to select securities, and may use derivatives and sector rotation to manage duration and seek enhanced returns. Because security selection depends on the managers' ESG assessments and valuation judgments, fund performance will diverge from any benchmark.
| Share class | Gross | Net |
|---|---|---|
| CSDAX | 0.77% | 0.76% |
| CDICX | 1.52% | 1.51% |
| CDSIX | 0.52% | 0.51% |
| CDSRX | 0.45% | 0.45% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 150.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 50.40% |
| Securitized | 42.66% |
| Cash & short-term | 4.03% |
| Loans | 3.56% |
| Derivatives | -1.74% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 44.2% |
| Government | 12.9% |
| Financials | 12.4% |
| Other | 12.3% |
| 11 smaller | 18.2% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: United States Treasury ×4, UMBS, TBA ×2, Eurex Deutschland, ROYAL BANK OF CANADA
Largest exited: UMBS, TBA ×2, Eurex Deutschland, United States Treasury ×2, BANK OF AMERICA CORP, ROYAL BANK OF CANADA, PNC FINANCIAL SERVICES
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.35% | +17.46% | +14.79% | 1.62% | -0.85% | |
| +3.59% | +14.88% | +10.59% | 1.59% | -0.91% | |
| +4.62% | +18.43% | +16.30% | 1.57% | -0.82% | |
| +4.70% | +18.66% | +16.65% | 1.57% | -0.81% |
These classes hold the same portfolio, so the 6.06pp spread over 5 years is the cost difference between them — roughly 1.21pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 75.3% |
| Floating rate | 24.3% |
| Zero-coupon or unclassified | 0.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 7.0% |
| 1-3y | 14.1% |
| 3-5y | 23.5% |
| 5-10y | 17.8% |
| 10y+ | 37.7% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 56% |
| Credit spreads | 44% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.65 yr |
| High yield | +0.32 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 1.14 yr | 43% |
| 5 yr | 1.31 yr | 50% |
| 30 yr | 0.18 yr | 7% |
3 mo and 10 yr are NEGATIVE (-0.03 yr, -0.15 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
| 3 mo | 0.03 yr | 2% |
| 1 yr | 0.47 yr | 24% |
| 5 yr | 1.03 yr | 52% |
| 10 yr | 0.23 yr | 12% |
| 30 yr | 0.21 yr | 11% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.03 | +0.02 | +0.01 | $6.3k | $2.2k |
| 1 yr | +1.14 | +0.40 | +0.08 | $115.1k | $21.9k |
| 5 yr | +1.31 | +0.86 | +0.17 | $247.3k | $49.9k |
| 10 yr | -0.15 | +0.17 | +0.06 | $49.7k | $16.2k |
| 30 yr | +0.18 | +0.20 | +0.01 | $58.6k | $1.7k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 2.46 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury3.63% · due 2030-08-31 | 4.07% | $117.41M | — |
| MVRXX | Morgan Stanley & Co. LLCMVRXX | 4.02% | $115.87M | — |
| — | UMBS, TBA5.00% · due 2056-07-01 | 3.77% | $108.91M | — |
| — | United States Treasury4.63% · due 2026-11-15 | 3.77% | $108.83M | — |
| — | United States Treasury2.25% · due 2027-11-15 | 2.95% | $85.01M | — |
| — | BANK OF AMERICA CORP4.46% · due 2032-02-06 | 1.58% | $45.52M | — |
| — | JPMORGAN CHASE & CO6.09% · due 2029-10-23 | 1.24% | $35.73M | — |
| — | NYKREDIT REALKREDIT A/S3.50% · due 2056-10-01 | 1.12% | $32.18M | — |
| — | ROYAL BANK OF CANADA4.61% · due 2032-05-03 | 1.09% | $31.48M | — |
| — | United States Treasury3.88% · due 2030-04-30 | 0.73% | $21.05M | — |
Top 10 positions are 24.33% of net assets, top 25 32.92%, across 277 issuers.
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