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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form N-CSR

 

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-09877

 

 

Calvert Responsible Index Series, Inc.

(Exact Name of Registrant as Specified in Charter)

 

 

2050 M Street NW, Suite 200, Washington, DC 20036

(Address of Principal Executive Offices)

 

 

Deidre E. Walsh

One Post Office Square, Boston, Massachusetts 02109

(Name and Address of Agent for Services)

 

 

(202) 238-2200

(Registrant’s Telephone Number)

September 30

Date of Fiscal Year End

March 31, 2026

Date of Reporting Period

 

 
 


Item 1. Reports to Stockholders

(a)

Calvert International Responsible Index Fund

Image

Class A CDHAX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert International Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class A
$28
0.54%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$1,329,408,199
# of Portfolio Holdings
818
Portfolio Turnover Rate
8%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Country Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Other
17.0%
Netherlands
4.7%
Australia
5.0%
South Korea
5.5%
Germany
6.8%
France
7.2%
Taiwan
7.6%
Switzerland
8.4%
Canada
10.4%
United Kingdom
11.2%
Japan
16.2%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
Taiwan Semiconductor Manufacturing Co. Ltd.
5.1%
Samsung Electronics Co. Ltd.
2.3%
ASML Holding NV
1.9%
AstraZeneca PLC
1.2%
SK Hynix, Inc.
1.2%
Roche Holding AG
1.2%
Novartis AG
1.1%
Nestle SA
1.1%
HSBC Holdings PLC
1.0%
Royal Bank of Canada
0.9%
Total
17.0%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CDHAX-TSR-SAR

Calvert International Responsible Index Fund

Image

Class I CDHIX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert International Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class I
$15
0.29%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$1,329,408,199
# of Portfolio Holdings
818
Portfolio Turnover Rate
8%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Country Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Other
17.0%
Netherlands
4.7%
Australia
5.0%
South Korea
5.5%
Germany
6.8%
France
7.2%
Taiwan
7.6%
Switzerland
8.4%
Canada
10.4%
United Kingdom
11.2%
Japan
16.2%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
Taiwan Semiconductor Manufacturing Co. Ltd.
5.1%
Samsung Electronics Co. Ltd.
2.3%
ASML Holding NV
1.9%
AstraZeneca PLC
1.2%
SK Hynix, Inc.
1.2%
Roche Holding AG
1.2%
Novartis AG
1.1%
Nestle SA
1.1%
HSBC Holdings PLC
1.0%
Royal Bank of Canada
0.9%
Total
17.0%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CDHIX-TSR-SAR

Calvert International Responsible Index Fund

Image

Class R6 CDHRX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert International Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class R6
$13
0.26%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$1,329,408,199
# of Portfolio Holdings
818
Portfolio Turnover Rate
8%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Country Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Other
17.0%
Netherlands
4.7%
Australia
5.0%
South Korea
5.5%
Germany
6.8%
France
7.2%
Taiwan
7.6%
Switzerland
8.4%
Canada
10.4%
United Kingdom
11.2%
Japan
16.2%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
Taiwan Semiconductor Manufacturing Co. Ltd.
5.1%
Samsung Electronics Co. Ltd.
2.3%
ASML Holding NV
1.9%
AstraZeneca PLC
1.2%
SK Hynix, Inc.
1.2%
Roche Holding AG
1.2%
Novartis AG
1.1%
Nestle SA
1.1%
HSBC Holdings PLC
1.0%
Royal Bank of Canada
0.9%
Total
17.0%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CDHRX-TSR-SAR

Calvert US Large-Cap Core Responsible Index Fund

Image

Class A CSXAX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class A
$24
0.49%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$5,553,962,380
# of Portfolio Holdings
787
Portfolio Turnover Rate
2%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.5%
Utilities
2.0%
Materials
2.5%
Real Estate
3.0%
Consumer Staples
5.5%
Communication Services
8.5%
Consumer Discretionary
8.7%
Health Care
10.3%
Industrials
11.6%
Financials
13.8%
Information Technology
33.5%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
7.0%
Apple, Inc.
6.4%
Alphabet, Inc., Class A
5.4%
Microsoft Corp.
4.7%
Amazon.com, Inc.
3.5%
Broadcom, Inc.
2.6%
JPMorgan Chase & Co.
1.5%
Eli Lilly & Co.
1.4%
Walmart, Inc.
1.0%
Visa, Inc., Class A
1.0%
Total
34.5%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CSXAX-TSR-SAR

Calvert US Large-Cap Core Responsible Index Fund

Image

Class C CSXCX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class C
$61
1.24%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$5,553,962,380
# of Portfolio Holdings
787
Portfolio Turnover Rate
2%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.5%
Utilities
2.0%
Materials
2.5%
Real Estate
3.0%
Consumer Staples
5.5%
Communication Services
8.5%
Consumer Discretionary
8.7%
Health Care
10.3%
Industrials
11.6%
Financials
13.8%
Information Technology
33.5%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
7.0%
Apple, Inc.
6.4%
Alphabet, Inc., Class A
5.4%
Microsoft Corp.
4.7%
Amazon.com, Inc.
3.5%
Broadcom, Inc.
2.6%
JPMorgan Chase & Co.
1.5%
Eli Lilly & Co.
1.4%
Walmart, Inc.
1.0%
Visa, Inc., Class A
1.0%
Total
34.5%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CSXCX-TSR-SAR

Calvert US Large-Cap Core Responsible Index Fund

Image

Class I CISIX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class I
$12
0.24%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$5,553,962,380
# of Portfolio Holdings
787
Portfolio Turnover Rate
2%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.5%
Utilities
2.0%
Materials
2.5%
Real Estate
3.0%
Consumer Staples
5.5%
Communication Services
8.5%
Consumer Discretionary
8.7%
Health Care
10.3%
Industrials
11.6%
Financials
13.8%
Information Technology
33.5%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
7.0%
Apple, Inc.
6.4%
Alphabet, Inc., Class A
5.4%
Microsoft Corp.
4.7%
Amazon.com, Inc.
3.5%
Broadcom, Inc.
2.6%
JPMorgan Chase & Co.
1.5%
Eli Lilly & Co.
1.4%
Walmart, Inc.
1.0%
Visa, Inc., Class A
1.0%
Total
34.5%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CISIX-TSR-SAR

Calvert US Large-Cap Core Responsible Index Fund

Image

Class R6 CSXRX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class R6
$9
0.19%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$5,553,962,380
# of Portfolio Holdings
787
Portfolio Turnover Rate
2%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.5%
Utilities
2.0%
Materials
2.5%
Real Estate
3.0%
Consumer Staples
5.5%
Communication Services
8.5%
Consumer Discretionary
8.7%
Health Care
10.3%
Industrials
11.6%
Financials
13.8%
Information Technology
33.5%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
7.0%
Apple, Inc.
6.4%
Alphabet, Inc., Class A
5.4%
Microsoft Corp.
4.7%
Amazon.com, Inc.
3.5%
Broadcom, Inc.
2.6%
JPMorgan Chase & Co.
1.5%
Eli Lilly & Co.
1.4%
Walmart, Inc.
1.0%
Visa, Inc., Class A
1.0%
Total
34.5%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CSXRX-TSR-SAR

Calvert US Large-Cap Growth Responsible Index Fund

Image

Class A CGJAX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Growth Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class A
$24
0.49%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$908,494,612
# of Portfolio Holdings
563
Portfolio Turnover Rate
7%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Energy
0.1%
Short-Term Investments
0.3%
Utilities
0.7%
Real Estate
2.0%
Materials
2.2%
Consumer Staples
5.1%
Communication Services
6.8%
Financials
8.2%
Health Care
8.5%
Consumer Discretionary
10.3%
Industrials
12.2%
Information Technology
43.6%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
9.6%
Apple, Inc.
8.7%
Microsoft Corp.
6.2%
Amazon.com, Inc.
4.8%
Alphabet, Inc., Class A
4.7%
Broadcom, Inc.
3.7%
Eli Lilly & Co.
2.0%
Visa, Inc., Class A
1.4%
Costco Wholesale Corp.
1.2%
Mastercard, Inc., Class A
1.1%
Total
43.4%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CGJAX-TSR-SAR

Calvert US Large-Cap Growth Responsible Index Fund

Image

Class I CGJIX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Growth Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class I
$12
0.24%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$908,494,612
# of Portfolio Holdings
563
Portfolio Turnover Rate
7%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Energy
0.1%
Short-Term Investments
0.3%
Utilities
0.7%
Real Estate
2.0%
Materials
2.2%
Consumer Staples
5.1%
Communication Services
6.8%
Financials
8.2%
Health Care
8.5%
Consumer Discretionary
10.3%
Industrials
12.2%
Information Technology
43.6%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
9.6%
Apple, Inc.
8.7%
Microsoft Corp.
6.2%
Amazon.com, Inc.
4.8%
Alphabet, Inc., Class A
4.7%
Broadcom, Inc.
3.7%
Eli Lilly & Co.
2.0%
Visa, Inc., Class A
1.4%
Costco Wholesale Corp.
1.2%
Mastercard, Inc., Class A
1.1%
Total
43.4%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CGJIX-TSR-SAR

Calvert US Large-Cap Growth Responsible Index Fund

Image

Class R6 CLGRX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Growth Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class R6
$10
0.21%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$908,494,612
# of Portfolio Holdings
563
Portfolio Turnover Rate
7%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Energy
0.1%
Short-Term Investments
0.3%
Utilities
0.7%
Real Estate
2.0%
Materials
2.2%
Consumer Staples
5.1%
Communication Services
6.8%
Financials
8.2%
Health Care
8.5%
Consumer Discretionary
10.3%
Industrials
12.2%
Information Technology
43.6%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
NVIDIA Corp.
9.6%
Apple, Inc.
8.7%
Microsoft Corp.
6.2%
Amazon.com, Inc.
4.8%
Alphabet, Inc., Class A
4.7%
Broadcom, Inc.
3.7%
Eli Lilly & Co.
2.0%
Visa, Inc., Class A
1.4%
Costco Wholesale Corp.
1.2%
Mastercard, Inc., Class A
1.1%
Total
43.4%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CLGRX-TSR-SAR

Calvert US Large-Cap Value Responsible Index Fund

Image

Class A CFJAX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Value Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class A
$25
0.49%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$1,819,623,514
# of Portfolio Holdings
548
Portfolio Turnover Rate
6%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.9%
Materials
3.9%
Communication Services
5.6%
Consumer Discretionary
5.7%
Utilities
6.3%
Real Estate
6.5%
Consumer Staples
7.7%
Information Technology
10.0%
Industrials
11.2%
Health Care
15.1%
Financials
27.0%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
JPMorgan Chase & Co.
3.5%
Bank of America Corp.
2.0%
Merck & Co., Inc.
1.7%
Wells Fargo & Co.
1.5%
UnitedHealth Group, Inc.
1.5%
Goldman Sachs Group, Inc.
1.5%
Micron Technology, Inc.
1.3%
Verizon Communications, Inc.
1.3%
AT&T, Inc.
1.2%
Citigroup, Inc.
1.2%
Total
16.7%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CFJAX-TSR-SAR

Calvert US Large-Cap Value Responsible Index Fund

Image

Class I CFJIX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Value Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class I
$12
0.24%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$1,819,623,514
# of Portfolio Holdings
548
Portfolio Turnover Rate
6%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.9%
Materials
3.9%
Communication Services
5.6%
Consumer Discretionary
5.7%
Utilities
6.3%
Real Estate
6.5%
Consumer Staples
7.7%
Information Technology
10.0%
Industrials
11.2%
Health Care
15.1%
Financials
27.0%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
JPMorgan Chase & Co.
3.5%
Bank of America Corp.
2.0%
Merck & Co., Inc.
1.7%
Wells Fargo & Co.
1.5%
UnitedHealth Group, Inc.
1.5%
Goldman Sachs Group, Inc.
1.5%
Micron Technology, Inc.
1.3%
Verizon Communications, Inc.
1.3%
AT&T, Inc.
1.2%
Citigroup, Inc.
1.2%
Total
16.7%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CFJIX-TSR-SAR

Calvert US Large-Cap Value Responsible Index Fund

Image

Class R6 CLVRX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Large-Cap Value Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class R6
$10
0.19%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$1,819,623,514
# of Portfolio Holdings
548
Portfolio Turnover Rate
6%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.1%
Energy
0.9%
Materials
3.9%
Communication Services
5.6%
Consumer Discretionary
5.7%
Utilities
6.3%
Real Estate
6.5%
Consumer Staples
7.7%
Information Technology
10.0%
Industrials
11.2%
Health Care
15.1%
Financials
27.0%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
JPMorgan Chase & Co.
3.5%
Bank of America Corp.
2.0%
Merck & Co., Inc.
1.7%
Wells Fargo & Co.
1.5%
UnitedHealth Group, Inc.
1.5%
Goldman Sachs Group, Inc.
1.5%
Micron Technology, Inc.
1.3%
Verizon Communications, Inc.
1.3%
AT&T, Inc.
1.2%
Citigroup, Inc.
1.2%
Total
16.7%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CLVRX-TSR-SAR

Calvert US Mid-Cap Core Responsible Index Fund

Image

Class A CMJAX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Mid-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class A
$25
0.49%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$425,427,867
# of Portfolio Holdings
625
Portfolio Turnover Rate
5%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.2%
Energy
1.2%
Communication Services
3.0%
Materials
4.0%
Consumer Staples
6.1%
Utilities
6.4%
Real Estate
6.8%
Consumer Discretionary
9.2%
Health Care
11.0%
Financials
14.3%
Information Technology
16.6%
Industrials
21.2%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
Corning, Inc.
0.9%
Vertiv Holdings Co., Class A
0.9%
Western Digital Corp.
0.8%
Marvell Technology, Inc.
0.8%
Sandisk Corp.
0.8%
Seagate Technology Holdings PLC
0.8%
Quanta Services, Inc.
0.7%
Cummins, Inc.
0.7%
Ross Stores, Inc.
0.7%
Warner Bros Discovery, Inc.
0.6%
Total
7.7%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CMJAX-TSR-SAR

Calvert US Mid-Cap Core Responsible Index Fund

Image

Class I CMJIX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Mid-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class I
$12
0.24%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$425,427,867
# of Portfolio Holdings
625
Portfolio Turnover Rate
5%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.2%
Energy
1.2%
Communication Services
3.0%
Materials
4.0%
Consumer Staples
6.1%
Utilities
6.4%
Real Estate
6.8%
Consumer Discretionary
9.2%
Health Care
11.0%
Financials
14.3%
Information Technology
16.6%
Industrials
21.2%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
Corning, Inc.
0.9%
Vertiv Holdings Co., Class A
0.9%
Western Digital Corp.
0.8%
Marvell Technology, Inc.
0.8%
Sandisk Corp.
0.8%
Seagate Technology Holdings PLC
0.8%
Quanta Services, Inc.
0.7%
Cummins, Inc.
0.7%
Ross Stores, Inc.
0.7%
Warner Bros Discovery, Inc.
0.6%
Total
7.7%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CMJIX-TSR-SAR

Calvert US Mid-Cap Core Responsible Index Fund

Image

Class R6 CMCRX

Semi-Annual Shareholder Report March 31, 2026 

This semi-annual shareholder report contains important information about the Calvert US Mid-Cap Core Responsible Index Fund for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.eatonvance.com/calvert-fund-documents.php. You can also request this information by contacting us at 1-800-368-2745.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class R6
$10
0.20%Footnote Reference1
Footnote Description
Footnote1
Annualized

Key Fund Statistics

Table Summary
Total Net Assets
$425,427,867
# of Portfolio Holdings
625
Portfolio Turnover Rate
5%

What did the Fund invest in? 

The following tables reflect what the Fund invested in as of the report date.

 

Sector Allocation (% of total investments)

Group By Asset Type Chart
Table Summary
Value
Value
Short-Term Investments
0.2%
Energy
1.2%
Communication Services
3.0%
Materials
4.0%
Consumer Staples
6.1%
Utilities
6.4%
Real Estate
6.8%
Consumer Discretionary
9.2%
Health Care
11.0%
Financials
14.3%
Information Technology
16.6%
Industrials
21.2%

Top Ten Holdings (% of total investments)Footnote Referencea

Table Summary
Corning, Inc.
0.9%
Vertiv Holdings Co., Class A
0.9%
Western Digital Corp.
0.8%
Marvell Technology, Inc.
0.8%
Sandisk Corp.
0.8%
Seagate Technology Holdings PLC
0.8%
Quanta Services, Inc.
0.7%
Cummins, Inc.
0.7%
Ross Stores, Inc.
0.7%
Warner Bros Discovery, Inc.
0.6%
Total
7.7%
Footnote Description
Footnotea
Excluding cash equivalents

Additional Information 

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.eatonvance.com/calvert-fund-documents.php

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/calvert-fund-documents.php. For proxy information, please visit www.calvert.com/active-engagement.php?DM=how-we-influence.

Householding

The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-368-2745 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

Not FDIC Insured | May Lose Value | No Bank Guarantee 

Semi-Annual Shareholder Report March 31, 2026 

CMCRX-TSR-SAR


(b) Not applicable.

Item 2. Code of Ethics

Not required in this filing.

Item 3. Audit Committee Financial Expert

Not required in this filing.

Item 4. Principal Accountant Fees and Services

Not required in this filing.

Item 5. Audit Committee of Listed Registrants

Not applicable. 

Item 6. Schedule of Investments

 

(a)

Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 7 of this Form N-CSR.

 

(b)

Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies



Calvert
US Large-Cap Growth Responsible Index Fund
Semi-Annual Financial Statements and
Additional Information
March 31, 2026


 

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the prospectus and/or statement of additional information, which can be obtained by calling 1-800-368-2745 or from a financial intermediary. Prospective investors should read the prospectus carefully before investing. 

 

Semi-Annual Financial Statements and Additional Information March 31, 2026
Calvert
US Large-Cap Growth Responsible Index Fund
Table of Contents  
Items 6 and 7 of Form N-CSR:  
Schedule of Investments 1
Statement of Assets and Liabilities 10
Statement of Operations 12
Statements of Changes in Net Assets 13
Financial Highlights 14
Notes to Financial Statements 17
Items 8, 9 and 11 of Form N-CSR are Not Applicable. For Item 10 of Form N-CSR, see Item 7.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited)

Common Stocks — 99.7%
    
Security Shares Value
Aerospace & Defense — 1.6%  
ATI, Inc.(1)       9,120 $  1,326,595
Axon Enterprise, Inc.(1)       2,624    1,114,386
Carpenter Technology Corp.       3,442    1,356,664
Curtiss-Wright Corp.       1,288      877,283
FTAI Aviation Ltd.       3,589      879,305
General Electric Co.      14,434    4,095,936
HEICO Corp.       3,393      930,361
Howmet Aerospace, Inc.      12,974    2,989,988
Loar Holdings, Inc.(1)   2,079 119,106
Moog, Inc., Class A   825 241,428
Woodward, Inc.   2,068 740,179
      $14,671,231
Air Freight & Logistics — 0.1%  
Expeditors International of Washington, Inc.   3,334 $477,529
GXO Logistics, Inc.(1)   5,155 267,287
      $744,816
Automobile Components — 0.0%  
BorgWarner, Inc.   4,406 $239,070
      $239,070
Automobiles — 0.1%  
Rivian Automotive, Inc., Class A(1)(2)   59,140 $890,057
      $890,057
Banks — 0.6%  
Cullen/Frost Bankers, Inc.   858 $117,615
First Citizens Bancshares, Inc., Class A   81 152,657
First Financial Bankshares, Inc.   3,855 113,530
Flagstar Bank NA   12,776 168,260
JPMorgan Chase & Co.   15,233 4,480,939
Pinnacle Financial Partners, Inc.   1,932 166,423
      $5,199,424
Beverages — 1.2%  
Celsius Holdings, Inc.(1)   8,703 $308,782
Coca-Cola Co.   74,789 5,687,703
Coca-Cola Consolidated, Inc.   2,775 532,078
Keurig Dr. Pepper, Inc.   23,293 613,305
Monster Beverage Corp.(1)   30,560 2,214,378
PepsiCo, Inc.   8,561 1,329,438
Primo Brands Corp., Class A   14,811 278,891
      $10,964,575
Biotechnology — 2.5%  
AbbVie, Inc.   45,344 $9,861,867
Alkermes PLC(1)   5,390 190,590
Security Shares Value
Biotechnology (continued)  
Alnylam Pharmaceuticals, Inc.(1)       3,439 $  1,137,862
Amgen, Inc.      11,067    3,893,924
BioMarin Pharmaceutical, Inc.(1)       6,207      350,633
Exelixis, Inc.(1)       8,226      352,813
Gilead Sciences, Inc.       8,497    1,184,227
Halozyme Therapeutics, Inc.(1)       4,026      260,200
Incyte Corp.(1)       4,845      456,011
Insmed, Inc.(1)       3,203      523,755
Ionis Pharmaceuticals, Inc.(1)   3,054 229,325
Natera, Inc.(1)   2,147 429,379
Neurocrine Biosciences, Inc.(1)   3,142 413,927
Roivant Sciences Ltd.(1)   7,377 204,343
United Therapeutics Corp.(1)   1,035 613,734
Vertex Pharmaceuticals, Inc.(1)   6,522 2,912,334
      $23,014,924
Broadline Retail — 4.9%  
Amazon.com, Inc.(1)   208,284 $43,379,308
eBay, Inc.   6,895 627,583
Etsy, Inc.(1)   4,858 242,803
Ollie's Bargain Outlet Holdings, Inc.(1)   2,271 209,023
      $44,458,717
Building Products — 1.0%  
A.O. Smith Corp.   3,873 $255,385
AAON, Inc.(2)   3,065 253,629
Advanced Drainage Systems, Inc.   2,070 283,859
Allegion PLC   3,018 438,485
Armstrong World Industries, Inc.   1,414 233,027
Builders FirstSource, Inc.(1)   1,051 86,529
Carlisle Cos., Inc.   811 270,566
CSW Industrials, Inc.   710 185,012
Johnson Controls International PLC   7,623 998,232
Lennox International, Inc.   1,122 520,754
Masco Corp.   4,865 293,700
Modine Manufacturing Co.(1)   3,815 826,749
Owens Corning   5,812 628,974
Simpson Manufacturing Co., Inc.   1,422 244,044
Trane Technologies PLC   7,222 3,009,696
Trex Co., Inc.(1)   4,316 157,189
Zurn Elkay Water Solutions Corp., Class C   4,301 192,857
      $8,878,687
Capital Markets — 2.7%  
Affiliated Managers Group, Inc.   571 $157,996
Ameriprise Financial, Inc.   1,354 601,718
Ares Management Corp., Class A   5,950 649,145
Bank of New York Mellon Corp.   8,093 960,073
Blackrock, Inc.   983 945,361
Blackstone, Inc.   10,880 1,251,091
Blue Owl Capital, Inc.   20,554 187,658
 
1
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Capital Markets (continued)  
Cboe Global Markets, Inc.       3,128 $    879,187
Charles Schwab Corp.      26,692    2,508,514
CME Group, Inc.       3,662    1,081,572
Coinbase Global, Inc., Class A(1)       2,986      521,385
Evercore, Inc., Class A         718      214,330
FactSet Research Systems, Inc.       1,429      310,079
Goldman Sachs Group, Inc.         359      303,710
Hamilton Lane, Inc., Class A       2,130      211,722
Houlihan Lokey, Inc.   1,416 203,366
Interactive Brokers Group, Inc., Class A   13,009 872,514
Intercontinental Exchange, Inc.   8,683 1,365,662
KKR & Co., Inc.   16,945 1,567,412
LPL Financial Holdings, Inc.   2,352 707,552
MarketAxess Holdings, Inc.   1,672 275,846
Moody's Corp.   4,615 2,013,294
Morningstar, Inc.   1,194 201,846
MSCI, Inc.   2,196 1,183,666
Nasdaq, Inc.   9,966 846,014
PJT Partners, Inc., Class A   894 124,910
S&P Global, Inc.   8,889 3,780,847
SEI Investments Co.   2,034 159,608
TPG, Inc.   3,443 139,476
Tradeweb Markets, Inc., Class A   3,944 464,051
      $24,689,605
Chemicals — 1.5%  
Air Products and Chemicals, Inc.   6,553 $1,903,581
Axalta Coating Systems Ltd.(1)   3,409 94,429
Balchem Corp.   1,451 245,916
Celanese Corp.   2,456 161,531
Ecolab, Inc.   7,984 2,123,904
International Flavors & Fragrances, Inc.   4,026 292,086
Linde PLC   11,516 5,709,172
PPG Industries, Inc.   1,509 161,282
RPM International, Inc.   2,585 256,949
Sherwin-Williams Co.   7,297 2,339,053
      $13,287,903
Commercial Services & Supplies — 0.9%  
Casella Waste Systems, Inc., Class A(1)   2,814 $223,263
Cintas Corp.   8,794 1,487,417
Clean Harbors, Inc.(1)   1,534 439,844
Copart, Inc.(1)   29,217 970,004
MSA Safety, Inc.   1,783 292,323
Republic Services, Inc.   5,710 1,250,604
Tetra Tech, Inc.   8,741 263,279
Veralto Corp.   7,874 696,219
Waste Management, Inc.   10,695 2,457,604
      $8,080,557
Security Shares Value
Communications Equipment — 1.6%  
Arista Networks, Inc.(1)      27,911 $  3,426,913
Ciena Corp.(1)       3,876    1,504,780
Cisco Systems, Inc.      71,077    5,514,864
F5, Inc.(1)       1,733      501,409
Lumentum Holdings, Inc.(1)       1,690    1,187,664
Motorola Solutions, Inc.       4,596   1,994,526
      $ 14,130,156
Construction & Engineering — 0.8%  
AECOM   2,272 $192,711
Comfort Systems USA, Inc.   1,027 1,416,223
Dycom Industries, Inc.(1)   928 314,425
EMCOR Group, Inc.   1,365 1,007,793
IES Holdings, Inc.(1)(2)   476 226,800
MasTec, Inc.(1)   1,997 642,515
Quanta Services, Inc.   4,147 2,276,786
Sterling Infrastructure, Inc.(1)   963 392,201
Valmont Industries, Inc.   428 171,016
WillScot Holdings Corp.   9,563 166,013
      $6,806,483
Construction Materials — 0.4%  
CRH PLC   13,967 $1,468,211
Knife River Corp.(1)   4,861 396,901
Vulcan Materials Co.   7,701 2,096,982
      $3,962,094
Consumer Finance — 0.4%  
American Express Co.   10,404 $3,147,002
Credit Acceptance Corp.(1)   378 160,068
FirstCash Holdings, Inc.   1,253 235,564
SLM Corp.   3,968 84,955
SoFi Technologies, Inc.(1)   21,216 336,910
      $3,964,499
Consumer Staples Distribution & Retail — 2.6%  
BJ's Wholesale Club Holdings, Inc.(1)   2,873 $282,761
Casey's General Stores, Inc.   1,165 847,957
Costco Wholesale Corp.   10,960 10,920,873
Dollar Tree, Inc.(1)   5,526 605,152
Maplebear, Inc.(1)   8,443 316,275
Performance Food Group Co.(1)   3,088 264,518
Sprouts Farmers Market, Inc.(1)   6,102 470,647
U.S. Foods Holding Corp.(1)   5,611 517,390
Walmart, Inc.   77,478 9,628,966
      $23,854,539
Containers & Packaging — 0.2%  
AptarGroup, Inc.   2,276 $286,821
Avery Dennison Corp.   1,016 175,443
 
2
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Containers & Packaging (continued)  
Ball Corp.       3,660 $    216,343
Crown Holdings, Inc.       1,748      175,237
Packaging Corp. of America       1,030      218,587
Smurfit Westrock PLC       7,036     280,384
      $  1,352,815
Distributors — 0.0%  
Pool Corp.       1,113 $    225,193
      $    225,193
Diversified Consumer Services — 0.1%  
Bright Horizons Family Solutions, Inc.(1)   2,670 $219,287
Covista, Inc.(1)   2,205 254,126
Duolingo, Inc.(1)   1,753 172,793
H&R Block, Inc.   4,991 158,414
Service Corp. International   2,052 169,311
Stride, Inc.(1)   3,240 285,671
      $1,259,602
Diversified REITs — 0.0%  
Essential Properties Realty Trust, Inc.   3,626 $110,085
      $110,085
Electric Utilities — 0.6%  
Constellation Energy Corp.   8,981 $2,507,944
NextEra Energy, Inc.   26,879 2,496,522
NRG Energy, Inc.   2,303 336,560
      $5,341,026
Electrical Equipment — 2.2%  
Acuity, Inc.   979 $274,335
AMETEK, Inc.   6,648 1,425,065
Eaton Corp. PLC   12,348 4,416,509
Emerson Electric Co.   7,266 951,991
GE Vernova, Inc.   7,257 6,334,635
Generac Holdings, Inc.(1)   890 173,844
Hubbell, Inc.   1,647 808,249
Nextpower, Inc., Class A(1)   5,323 641,688
nVent Electric PLC   2,260 267,313
Regal Rexnord Corp.   1,782 333,697
Rockwell Automation, Inc.   3,380 1,213,015
Vertiv Holdings Co., Class A   12,171 3,049,809
      $19,890,150
Electronic Equipment, Instruments & Components — 1.7%  
Amphenol Corp., Class A   37,536 $4,742,673
Badger Meter, Inc.   1,580 240,713
CDW Corp.   2,014 243,734
Cognex Corp.   5,135 251,564
Coherent Corp.(1)   3,203 762,987
Security Shares Value
Electronic Equipment, Instruments & Components (continued)  
Corning, Inc.      21,328 $  2,899,968
Flex Ltd.(1)       2,212      144,797
Itron, Inc.(1)       2,025      181,501
Jabil, Inc.       2,991      794,499
Keysight Technologies, Inc.(1)       5,556    1,568,848
Littelfuse, Inc.         916      310,845
Ralliant Corp.       5,251      218,389
TE Connectivity PLC       9,366    1,957,681
Teledyne Technologies, Inc.(1)   1,005 608,035
Vontier Corp.   5,474 194,163
Zebra Technologies Corp., Class A(1)   1,261 263,650
      $15,384,047
Energy Equipment & Services — 0.0%  
Baker Hughes Co.   5,276 $322,100
      $322,100
Entertainment — 1.6%  
Electronic Arts, Inc.   6,471 $1,319,243
Liberty Media Corp.-Liberty Formula One, Class A(1)   7,855 613,318
Netflix, Inc.(1)   108,567 10,438,717
Roku, Inc.(1)   3,005 284,333
Take-Two Interactive Software, Inc.(1)   1,710 337,725
Walt Disney Co.   17,654 1,701,493
Warner Music Group Corp., Class A   4,826 123,256
      $14,818,085
Financial Services — 3.2%  
Affirm Holdings, Inc.(1)   8,279 $379,344
Apollo Global Management, Inc.   11,737 1,307,736
Corebridge Financial, Inc.   7,394 176,421
Corpay, Inc.(1)   1,939 564,230
Equitable Holdings, Inc.   4,528 168,034
Euronet Worldwide, Inc.(1)   2,211 146,744
Fidelity National Information Services, Inc.   14,341 672,736
Fiserv, Inc.(1)   16,021 893,972
Jack Henry & Associates, Inc.   2,395 378,506
Jackson Financial, Inc., Class A   2,891 305,636
Mastercard, Inc., Class A   20,915 10,450,389
PayPal Holdings, Inc.   10,125 457,954
Shift4 Payments, Inc., Class A(1)   2,749 120,214
Toast, Inc., Class A(1)   16,365 433,836
Visa, Inc., Class A   41,837 12,644,815
      $29,100,567
Food Products — 0.3%  
Darling Ingredients, Inc.(1)   2,787 $172,376
Hershey Co.   2,920 607,039
J.M. Smucker Co.   3,052 294,335
Lamb Weston Holdings, Inc.   7,152 302,244
 
3
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Food Products (continued)  
McCormick & Co., Inc.       3,811 $    192,227
Mondelez International, Inc., Class A      19,818   1,142,309
      $  2,710,530
Ground Transportation — 1.2%  
J.B. Hunt Transport Services, Inc.       1,455 $    308,314
Landstar System, Inc.       1,455      233,251
Lyft, Inc., Class A(1)      16,039      213,319
Old Dominion Freight Line, Inc.      11,544    2,255,698
Saia, Inc.(1)   1,620 569,074
Uber Technologies, Inc.(1)   53,139 3,822,288
Union Pacific Corp.   11,792 2,860,975
XPO, Inc.(1)   3,466 674,310
      $10,937,229
Health Care Equipment & Supplies — 2.3%  
Abbott Laboratories   19,609 $2,013,256
Align Technology, Inc.(1)   2,369 406,118
Baxter International, Inc.   9,733 163,514
Becton Dickinson & Co.   4,493 706,434
Boston Scientific Corp.(1)   38,543 2,418,573
Cooper Cos., Inc.(1)   4,142 296,153
DexCom, Inc.(1)   10,378 651,738
Edwards Lifesciences Corp.(1)   15,859 1,269,989
GE HealthCare Technologies, Inc.   2,018 143,641
Glaukos Corp.(1)   1,253 134,898
Globus Medical, Inc., Class A(1)   3,440 296,390
Hologic, Inc.(1)   4,871 368,199
IDEXX Laboratories, Inc.(1)   2,145 1,205,254
Insulet Corp.(1)   2,266 475,498
Intuitive Surgical, Inc.(1)   9,060 4,176,569
Masimo Corp.(1)   1,461 259,868
Medtronic PLC   3,671 318,092
Merit Medical Systems, Inc.(1)   2,387 164,536
Penumbra, Inc.(1)   1,251 410,791
ResMed, Inc.   4,178 937,878
STERIS PLC   2,673 591,081
Stryker Corp.   9,390 3,085,460
Teleflex, Inc.   1,604 191,855
Zimmer Biomet Holdings, Inc.   2,620 236,900
      $20,922,685
Health Care Providers & Services — 0.4%  
Chemed Corp.   543 $205,113
CorVel Corp.(1)   2,694 147,227
DaVita, Inc.(1)   1,138 174,899
Encompass Health Corp.   1,862 180,111
Ensign Group, Inc.   1,743 351,215
Guardant Health, Inc.(1)   3,580 330,685
HCA Healthcare, Inc.   2,996 1,417,827
HealthEquity, Inc.(1)   2,924 244,359
Security Shares Value
Health Care Providers & Services (continued)  
Henry Schein, Inc.(1)       2,062 $    151,969
Labcorp Holdings, Inc.         951      253,736
Option Care Health, Inc.(1)       6,992      188,225
Quest Diagnostics, Inc.         988     193,628
      $  3,838,994
Health Care REITs — 0.5%  
American Healthcare REIT, Inc.       3,346 $    157,797
CareTrust REIT, Inc.(2)       4,781      175,224
Healthcare Realty Trust, Inc.   7,994 135,818
Ventas, Inc.   9,539 780,099
Welltower, Inc.   18,750 3,707,063
      $4,956,001
Health Care Technology — 0.1%  
Veeva Systems, Inc., Class A(1)   4,476 $786,254
Waystar Holding Corp.(1)   4,815 116,090
      $902,344
Hotel & Resort REITs — 0.0%  
Ryman Hospitality Properties, Inc.   1,285 $118,567
      $118,567
Hotels, Restaurants & Leisure — 2.4%  
Airbnb, Inc., Class A(1)   11,792 $1,489,094
Aramark   5,230 212,024
Booking Holdings, Inc.   860 3,620,875
Brinker International, Inc.(1)   2,152 307,241
Cava Group, Inc.(1)   5,635 455,872
Chipotle Mexican Grill, Inc.(1)   60,033 1,921,656
Choice Hotels International, Inc.   1,560 161,460
Darden Restaurants, Inc.   3,072 602,235
Domino's Pizza, Inc.   1,561 560,071
DoorDash, Inc., Class A(1)   10,026 1,505,404
Hilton Worldwide Holdings, Inc.   6,929 2,106,970
Hyatt Hotels Corp., Class A(2)   1,650 237,254
Life Time Group Holdings, Inc.(1)   5,229 140,869
Marriott International, Inc., Class A   6,520 2,132,496
Planet Fitness, Inc., Class A(1)   3,044 226,413
Shake Shack, Inc., Class A(1)   2,994 264,879
Starbucks Corp.   31,637 2,834,359
Texas Roadhouse, Inc.   3,125 516,063
Vail Resorts, Inc.(2)   1,237 158,732
Wingstop, Inc.   1,517 235,089
Wyndham Hotels & Resorts, Inc.   2,698 219,159
Yum! Brands, Inc.   12,478 1,940,079
      $21,848,294
Household Durables — 0.1%  
NVR, Inc.(1)   79 $520,597
 
4
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Household Durables (continued)  
Somnigroup International, Inc.       5,390 $    398,429
TopBuild Corp.(1)         678     238,181
      $  1,157,207
Household Products — 0.9%  
Church & Dwight Co., Inc.       5,694 $    531,364
Clorox Co.       1,592      164,979
Colgate-Palmolive Co.      19,575    1,668,378
Kimberly-Clark Corp.       4,326      417,329
Procter & Gamble Co.   34,398 4,968,447
      $7,750,497
Independent Power and Renewable Electricity Producers — 0.0%  
Brookfield Renewable Corp.   5,556 $221,295
Clearway Energy, Inc., Class C   2,940 115,513
      $336,808
Industrial REITs — 0.1%  
EastGroup Properties, Inc.   952 $176,206
First Industrial Realty Trust, Inc.   2,609 150,931
Lineage, Inc.(2)   2,949 96,609
      $423,746
Insurance — 1.2%  
Aon PLC, Class A   5,857 $1,890,522
Arch Capital Group Ltd.(1)   2,451 235,272
Arthur J. Gallagher & Co.   7,673 1,661,818
Brown & Brown, Inc.   9,934 647,796
Kinsale Capital Group, Inc.   741 253,170
Marsh & McLennan Cos., Inc.   10,627 1,843,253
Primerica, Inc.   829 207,648
Progressive Corp.   13,433 2,662,958
RLI Corp.   3,958 225,764
Ryan Specialty Holdings, Inc.   4,998 168,633
W.R. Berkley Corp.   2,569 170,273
Willis Towers Watson PLC   2,655 771,809
      $10,738,916
Interactive Media & Services — 4.8%  
Alphabet, Inc., Class A   149,078 $42,868,870
Pinterest, Inc., Class A(1)   18,704 343,031
Reddit, Inc., Class A(1)   3,694 497,397
Snap, Inc., Class A(1)   17,898 82,331
      $43,791,629
IT Services — 1.5%  
Accenture PLC, Class A   13,279 $2,633,093
Akamai Technologies, Inc.(1)   3,966 455,495
Amdocs Ltd.   2,050 133,783
Cloudflare, Inc., Class A(1)   8,447 1,742,954
Security Shares Value
IT Services (continued)  
Cognizant Technology Solutions Corp., Class A       4,445 $    272,701
EPAM Systems, Inc.(1)       1,402      189,831
Gartner, Inc.(1)       2,350      372,099
GoDaddy, Inc., Class A(1)       4,139      342,171
International Business Machines Corp.      16,753    4,060,760
Kyndryl Holdings, Inc.(1)       5,602       73,498
MongoDB, Inc.(1)       2,501      612,170
Snowflake, Inc., Class A(1)       9,338    1,408,357
Twilio, Inc., Class A(1)   4,037 507,935
VeriSign, Inc.   2,807 697,146
      $13,501,993
Life Sciences Tools & Services — 0.9%  
Agilent Technologies, Inc.   7,044 $802,875
Bio-Techne Corp.   5,185 270,968
Bruker Corp.   5,405 195,229
Charles River Laboratories International, Inc.(1)   1,273 219,593
Danaher Corp.   8,322 1,577,851
Illumina, Inc.(1)   1,127 138,914
IQVIA Holdings, Inc.(1)   2,392 407,932
Medpace Holdings, Inc.(1)   665 319,326
Mettler-Toledo International, Inc.(1)   542 683,570
Repligen Corp.(1)   1,279 150,692
Revvity, Inc.   1,238 108,461
Thermo Fisher Scientific, Inc.   4,859 2,388,344
Waters Corp.(1)   2,805 835,329
West Pharmaceutical Services, Inc.   1,990 498,774
      $8,597,858
Machinery — 3.0%  
AGCO Corp.   2,345 $271,715
Allison Transmission Holdings, Inc.   3,036 355,394
Caterpillar, Inc.   8,526 6,040,330
Chart Industries, Inc.(1)   1,739 359,538
Cummins, Inc.   1,565 842,001
Deere & Co.   3,831 2,158,002
Donaldson Co., Inc.   3,682 312,491
ESAB Corp.   2,539 245,420
ESCO Technologies, Inc.   1,167 328,359
Federal Signal Corp.   2,526 273,162
Flowserve Corp.   2,941 216,193
Fortive Corp.   8,854 489,449
Gates Industrial Corp. PLC(1)   6,297 142,375
Graco, Inc.   6,351 537,612
IDEX Corp.   2,133 404,310
Illinois Tool Works, Inc.   8,477 2,206,478
Ingersoll Rand, Inc.   13,022 1,043,323
ITT, Inc.   2,847 542,439
JBT Marel Corp.   1,270 162,395
Lincoln Electric Holdings, Inc.   1,998 497,662
Middleby Corp.(1)   820 108,716
 
5
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Machinery (continued)  
Mueller Industries, Inc.       2,950 $    326,860
Nordson Corp.       1,542      410,265
Otis Worldwide Corp.      11,557      890,814
PACCAR, Inc.       3,053      352,622
Parker-Hannifin Corp.       3,501    3,134,235
Pentair PLC       4,404      383,632
RBC Bearings, Inc.(1)       1,129      613,183
Snap-on, Inc.         774      281,132
SPX Technologies, Inc.(1)   1,749 349,695
Toro Co.   2,469 230,703
Watts Water Technologies, Inc., Class A   1,100 319,319
Westinghouse Air Brake Technologies Corp.   5,377 1,343,766
Xylem, Inc.   5,278 630,721
      $26,804,311
Media — 0.1%  
Liberty Broadband Corp., Class C(1)   3,078 $154,823
New York Times Co., Class A   5,351 448,039
Trade Desk, Inc., Class A(1)   13,794 312,986
      $915,848
Metals & Mining — 0.1%  
Commercial Metals Co.   8,323 $511,282
Reliance, Inc.   559 169,891
Steel Dynamics, Inc.   1,471 264,780
      $945,953
Mortgage REITs — 0.1%  
AGNC Investment Corp.(2)   16,460 $165,094
Annaly Capital Management, Inc.   16,133 341,213
      $506,307
Multi-Utilities — 0.0%  
Public Service Enterprise Group, Inc.   1,970 $159,471
      $159,471
Office REITs — 0.0%  
BXP, Inc.   1,867 $96,897
Vornado Realty Trust   2,109 54,813
      $151,710
Oil, Gas & Consumable Fuels — 0.1%  
CNX Resources Corp.(1)   11,646 $448,953
      $448,953
Paper & Forest Products — 0.0%  
Louisiana-Pacific Corp.   2,264 $164,706
      $164,706
Security Shares Value
Personal Care Products — 0.2%  
BellRing Brands, Inc.(1)       6,589 $    106,017
e.l.f. Beauty, Inc.(1)       3,265      197,892
Estee Lauder Cos., Inc., Class A       4,617      331,362
Kenvue, Inc.      42,071     725,304
      $  1,360,575
Pharmaceuticals — 2.2%  
Corcept Therapeutics, Inc.(1)       6,120 $    246,697
Eli Lilly & Co.      20,229   18,606,027
Jazz Pharmaceuticals PLC(1)   654 123,639
Zoetis, Inc.   11,309 1,336,837
      $20,313,200
Professional Services — 0.8%  
Amentum Holdings, Inc.(1)   8,786 $229,139
Automatic Data Processing, Inc.   8,861 1,800,378
Booz Allen Hamilton Holding Corp.   2,858 223,010
Broadridge Financial Solutions, Inc.   3,586 582,653
Equifax, Inc.   4,180 752,693
ExlService Holdings, Inc.(1)   5,799 176,579
FTI Consulting, Inc.(1)   875 154,674
Genpact Ltd.   4,091 152,390
Parsons Corp.(1)   1,998 108,232
Paychex, Inc.   8,600 792,232
Paycom Software, Inc.   2,004 243,566
Paylocity Holding Corp.(1)   1,935 209,057
SS&C Technologies Holdings, Inc.   4,694 317,173
TransUnion   6,216 430,085
UL Solutions, Inc., Class A   2,691 230,646
Verisk Analytics, Inc.   4,222 801,124
      $7,203,631
Real Estate Management & Development — 0.2%  
CBRE Group, Inc., Class A(1)   7,435 $1,007,145
CoStar Group, Inc.(1)   14,012 565,244
Zillow Group, Inc., Class C(1)   3,018 124,885
      $1,697,274
Residential REITs — 0.2%  
AvalonBay Communities, Inc.   483 $78,898
Camden Property Trust   2,115 206,551
Equity LifeStyle Properties, Inc.   3,349 209,045
Essex Property Trust, Inc.   750 181,500
Invitation Homes, Inc.   14,347 356,523
Mid-America Apartment Communities, Inc.   1,219 148,864
Sun Communities, Inc.   3,780 476,129
UDR, Inc.   7,158 241,797
      $1,899,307
 
6
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Retail REITs — 0.1%  
Kite Realty Group Trust      10,416 $    255,713
Phillips Edison & Co., Inc.       3,374      126,255
Regency Centers Corp.       1,621      122,645
Simon Property Group, Inc.       2,129     397,122
      $    901,735
Semiconductors & Semiconductor Equipment — 18.7%  
Advanced Micro Devices, Inc.(1)      43,405 $  8,829,879
Allegro MicroSystems, Inc.(1)       4,554      143,588
Analog Devices, Inc.   11,635 3,701,559
Applied Materials, Inc.   21,143 7,226,466
Broadcom, Inc.   107,519 33,278,206
Cirrus Logic, Inc.(1)   1,975 285,625
Enphase Energy, Inc.(1)   6,022 227,692
Entegris, Inc.   3,181 372,940
First Solar, Inc.(1)   2,648 522,344
KLA Corp.   3,491 5,140,183
Lam Research Corp.   33,375 7,130,902
Lattice Semiconductor Corp.(1)   5,002 463,986
MACOM Technology Solutions Holdings, Inc.(1)   2,330 517,423
Marvell Technology, Inc.   15,327 1,518,139
Microchip Technology, Inc.   6,929 447,683
Micron Technology, Inc.   12,742 4,304,757
MKS, Inc.   894 205,450
Monolithic Power Systems, Inc.   1,322 1,445,409
NVIDIA Corp.   498,615 86,958,456
ON Semiconductor Corp.(1)   11,643 720,935
Qorvo, Inc.(1)   3,704 286,690
QUALCOMM, Inc.   16,804 2,164,019
Rambus, Inc.(1)   4,276 367,864
Teradyne, Inc.   3,191 946,004
Texas Instruments, Inc.   13,237 2,569,831
Universal Display Corp.   1,511 138,498
      $169,914,528
Software — 11.3%  
ACI Worldwide, Inc.(1)   3,625 $148,661
Adobe, Inc.(1)   11,475 2,789,343
AppFolio, Inc., Class A(1)   968 152,770
AppLovin Corp., Class A(1)   5,994 2,385,612
Atlassian Corp., Class A(1)   5,167 352,648
Autodesk, Inc.(1)   5,860 1,402,884
Bentley Systems, Inc., Class B   5,818 204,328
Box, Inc., Class A(1)   8,229 194,534
Cadence Design Systems, Inc.(1)   7,263 2,018,170
CCC Intelligent Solutions Holdings, Inc.(1)   32,302 193,812
Clearwater Analytics Holdings, Inc., Class A(1)   12,019 284,249
Commvault Systems, Inc.(1)   2,215 172,526
CrowdStrike Holdings, Inc., Class A(1)   6,557 2,559,918
Datadog, Inc., Class A(1)   8,946 1,056,075
Security Shares Value
Software (continued)  
Docusign, Inc.(1)       6,211 $    294,464
Dolby Laboratories, Inc., Class A       2,056      123,483
Dropbox, Inc., Class A(1)       9,651      219,271
Dynatrace, Inc.(1)      11,206      414,398
Elastic NV(1)       3,506      175,265
Fair Isaac Corp.(1)         738      787,845
Fortinet, Inc.(1)      16,789    1,371,997
Gen Digital, Inc.      20,145      379,330
Guidewire Software, Inc.(1)   2,481 371,058
HubSpot, Inc.(1)   1,542 376,402
Intuit, Inc.   7,256 3,137,349
Manhattan Associates, Inc.(1)   2,127 283,146
MARA Holdings, Inc.(1)(2)   15,510 126,562
Microsoft Corp.   152,258 56,361,344
Nutanix, Inc., Class A(1)   8,279 314,685
Oracle Corp.   45,892 6,751,172
Palo Alto Networks, Inc.(1)   22,050 3,535,056
PTC, Inc.(1)   3,448 491,306
Q2 Holdings, Inc.(1)   2,993 141,569
Qualys, Inc.(1)   1,880 165,158
Roper Technologies, Inc.   2,731 966,392
Salesforce, Inc.   24,266 4,529,734
Samsara, Inc., Class A(1)   9,972 316,013
SentinelOne, Inc., Class A(1)   12,075 155,526
ServiceNow, Inc.(1)   27,702 2,896,244
SPS Commerce, Inc.(1)   1,814 100,985
Synopsys, Inc.(1)   4,978 1,973,677
Trimble, Inc.(1)   3,357 218,977
Tyler Technologies, Inc.(1)   1,449 496,109
Varonis Systems, Inc.(1)   5,248 112,675
Workday, Inc., Class A(1)   6,132 796,669
Zscaler, Inc.(1)   3,143 440,932
      $102,740,323
Specialized REITs — 0.9%  
American Tower Corp.   8,984 $1,550,459
Crown Castle, Inc.   9,498 772,282
CubeSmart   2,192 80,337
Digital Realty Trust, Inc.   4,221 760,667
Equinix, Inc.   2,467 2,418,252
Extra Space Storage, Inc.   1,416 185,680
Iron Mountain, Inc.   8,518 870,029
Lamar Advertising Co., Class A   1,299 164,531
National Storage Affiliates Trust   3,950 149,073
Public Storage   2,655 719,186
SBA Communications Corp.   3,094 532,508
      $8,203,004
Specialty Retail — 2.4%  
AutoZone, Inc.(1)   434 $1,465,956
Boot Barn Holdings, Inc.(1)   940 137,578
 
7
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Specialty Retail (continued)  
Burlington Stores, Inc.(1)       1,631 $    530,695
Carvana Co.(1)       3,229    1,015,133
Dick's Sporting Goods, Inc.         382       75,747
Five Below, Inc.(1)       1,355      309,590
Floor & Decor Holdings, Inc., Class A(1)(2)       2,480      125,984
GameStop Corp., Class A(1)      12,267      282,632
Home Depot, Inc.      18,722    6,157,478
Lowe's Cos., Inc.       7,472    1,765,484
O'Reilly Automotive, Inc.(1)   21,174 1,954,572
Ross Stores, Inc.   6,690 1,449,255
TJX Cos., Inc.   27,851 4,447,805
Tractor Supply Co.   10,654 482,626
Ulta Beauty, Inc.(1)   1,315 687,364
Urban Outfitters, Inc.(1)   1,483 93,948
Williams-Sonoma, Inc.   3,408 621,381
      $21,603,228
Technology Hardware, Storage & Peripherals — 8.9%  
Apple, Inc.   310,816 $78,881,993
Dell Technologies, Inc., Class C   5,078 833,452
Everpure, Inc., Class A(1)   10,034 592,407
NetApp, Inc.   2,597 265,907
      $80,573,759
Textiles, Apparel & Luxury Goods — 0.3%  
Crocs, Inc.(1)   1,777 $147,527
Deckers Outdoor Corp.(1)   4,418 442,198
lululemon Athletica, Inc.(1)   2,855 437,100
NIKE, Inc., Class B   9,877 521,703
Ralph Lauren Corp.   907 311,999
Tapestry, Inc.   4,195 591,956
      $2,452,483
Trading Companies & Distributors — 0.7%  
Applied Industrial Technologies, Inc.   1,437 $381,265
Core & Main, Inc., Class A(1)   7,069 349,209
Fastenal Co.   30,522 1,416,221
Ferguson Enterprises, Inc.   3,623 845,101
GATX Corp.   938 160,154
QXO, Inc.(1)   9,410 182,742
SiteOne Landscape Supply, Inc.(1)   1,725 229,615
United Rentals, Inc.   1,849 1,347,107
W.W. Grainger, Inc.   1,210 1,319,880
Watsco, Inc.   757 275,389
      $6,506,683
Water Utilities — 0.0%  
American Water Works Co., Inc.   1,682 $228,903
      $228,903
Security Shares Value
Wireless Telecommunication Services — 0.2%  
T-Mobile U.S., Inc.       9,765 $  2,050,943
      $  2,050,943
Total Common Stocks
(identified cost $575,841,090)
    $905,921,140
    
Rights — 0.0%
    
Security Shares Value
Health Care Equipment & Supplies — 0.0%  
Abiomed, Inc., CVR, Exp. 12/31/29(1)(3)(4)       1,143 $      1,166
Total Rights
(identified cost $1,166)
    $      1,166
    
Short-Term Investments — 0.3%      
Affiliated Fund — 0.3%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.57%(5)   2,368,900 $  2,368,900
Total Affiliated Fund
(identified cost $2,368,900)
    $  2,368,900
Securities Lending Collateral — 0.0%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 3.68%(6)     432,974 $    432,974
Total Securities Lending Collateral
(identified cost $432,974)
    $    432,974
Total Short-Term Investments
(identified cost $2,801,874)
    $  2,801,874
Total Investments — 100.0%
(identified cost $578,644,130)
    $908,724,180
Other Assets, Less Liabilities — (0.0)%     $   (229,568)
Net Assets — 100.0%     $908,494,612
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
Amount is less than 0.05% or (0.05)%, as applicable.
(1) Non-income producing security.
(2) All or a portion of this security was on loan at March 31, 2026. The aggregate market value of securities on loan at March 31, 2026 was $1,355,255.
 
8
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

(3) Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy.
(4) Restricted security. Total market value of restricted securities amounts to $1,166, which represents less than 0.05% of the net assets of the Fund as of March 31, 2026.
(5) May be deemed to be an affiliated investment company (see Note 7). The rate shown is the annualized seven-day yield as of March 31, 2026.
(6) Represents investment of cash collateral received in connection with securities lending.
 
Restricted Securities
Description Acquisition Date Cost
Abiomed, Inc., CVR, Exp. 12/31/29 12/28/22 $1,166
    $1,166
    
Abbreviations: 
CVR – Contingent Value Rights
REITs – Real Estate Investment Trusts
9
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited)

  March 31, 2026
Assets  
Investments in securities of unaffiliated issuers, at value (identified cost $576,275,230) - including
$1,355,255 of securities on loan 
$906,355,280
Investments in securities of affiliated issuers, at value (identified cost $2,368,900) 2,368,900
Cash 351
Receivable for capital shares sold 783,050
Dividends receivable 285,732
Dividends receivable - affiliated 8,572
Securities lending income receivable 939
Receivable from affiliates 186,499
Directors' deferred compensation plan 39,578
Total assets $910,028,901
Liabilities  
Payable for capital shares redeemed $590,091
Deposits for securities loaned 432,974
Payable to affiliates:  
Investment advisory fee 93,583
Administrative fee 93,944
Distribution and service fees 26,446
Sub-transfer agency fee 5,889
Directors' deferred compensation plan 39,578
Payable for accounting fees 112,316
Payable for transfer agency fees and expenses 88,326
Accrued expenses 51,142
Total liabilities $1,534,289
Net Assets $908,494,612
Sources of Net Assets  
Paid-in capital $581,827,795
Distributable earnings 326,666,817
Net Assets $908,494,612
Class A Shares  
Net Assets $122,132,841
Shares Outstanding 1,754,530
Net Asset Value and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$69.61
Maximum Offering Price Per Share
(100 ÷ 95.25 of net asset value per share)
$73.08
Class I Shares  
Net Assets $563,159,465
Shares Outstanding 8,002,306
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$70.37
10
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited) — continued

  March 31, 2026
Class R6 Shares  
Net Assets $223,202,306
Shares Outstanding 3,181,387
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$70.16
    
On sales of $50,000 or more, the offering price of Class A shares is reduced.
11
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Statement of Operations (Unaudited)

  Six Months Ended
  March 31, 2026
Investment Income  
Dividend income (net of foreign taxes withheld of $638) $3,549,308
Dividend income - affiliated issuers 48,862
Interest income 210
Securities lending income, net 4,872
Total investment income $3,603,252
Expenses  
Investment advisory fee $526,956
Administrative fee 526,956
Distribution and service fees:  
Class A 160,878
Directors' fees and expenses 25,000
Custodian fees 7,560
Transfer agency fees and expenses 332,520
Accounting fees 86,859
Professional fees 32,239
Registration fees 35,610
Reports to shareholders 23,878
Miscellaneous 32,994
Total expenses $1,791,450
Waiver and/or reimbursement of expenses by affiliates $(602,720)
Net expenses $1,188,730
Net investment income $2,414,522
Realized and Unrealized Gain (Loss)  
Net realized gain (loss):  
Investment securities $7,120,723
Net realized gain $7,120,723
Change in unrealized appreciation (depreciation):  
Investment securities $(55,252,940)
Net change in unrealized appreciation (depreciation) $(55,252,940)
Net realized and unrealized loss $(48,132,217)
Net decrease in net assets from operations $(45,717,695)
12
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Statements of Changes in Net Assets

  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended
September 30,
2025
Increase (Decrease) in Net Assets    
From operations:    
Net investment income $2,414,522 $3,751,968
Net realized gain 7,120,723 23,968,695
Net change in unrealized appreciation (depreciation) (55,252,940) 81,996,993
Net increase (decrease) in net assets from operations $(45,717,695) $109,717,656
Distributions to shareholders:    
Class A $(3,591,815) $(2,170,956)
Class I (17,429,733) (9,947,546)
Class R6 (4,101,442) (2,264,501)
Total distributions to shareholders $(25,122,990) $(14,383,003)
Capital share transactions:    
Class A $5,291,065 $(3,834,444)
Class I 72,673,398 (15,277,635)
Class R6 123,188,779 2,962,847
Net increase (decrease) in net assets from capital share transactions $201,153,242 $(16,149,232)
Net increase in net assets $130,312,557 $79,185,421
Net Assets    
At beginning of period $778,182,055 $698,996,634
At end of period $908,494,612 $778,182,055
13
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Financial Highlights

  Class A
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $74.93 $65.61 $47.47 $38.18 $49.71 $39.77
Income (Loss) From Operations            
Net investment income(1) $0.12 $0.21 $0.23 $0.22 $0.16 $0.15
Net realized and unrealized gain (loss) (3.33) 10.35 18.10 9.20 (10.79) 10.49
Total income (loss) from operations $(3.21) $10.56 $18.33 $9.42 $(10.63) $10.64
Less Distributions            
From net investment income $(0.16) $(0.22) $(0.19) $(0.13) $(0.11) $(0.15)
From net realized gain (1.95) (1.02)  —  — (0.79) (0.55)
Total distributions $(2.11) $(1.24) $(0.19) $(0.13) $(0.90) $(0.70)
Net asset value — End of period $69.61 $74.93 $65.61 $47.47 $38.18 $49.71
Total Return(2) (4.50)%(3) 16.26% 38.71% 24.73% (21.87)% 27.06%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $122,133 $126,077 $114,160 $77,895 $47,248 $50,963
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.64%(5) 0.64% 0.64% 0.66% 0.65% 0.66%
Net expenses 0.49%(5)(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%
Net investment income 0.32%(5) 0.31% 0.41% 0.49% 0.35% 0.32%
Portfolio Turnover 7%(3) 30% 30% 23% 19% 25%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
14
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class I
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $75.81 $66.34 $47.97 $38.55 $50.15 $40.08
Income (Loss) From Operations            
Net investment income(1) $0.22 $0.38 $0.38 $0.33 $0.28 $0.27
Net realized and unrealized gain (loss) (3.37) 10.47 18.28 9.29 (10.87) 10.57
Total income (loss) from operations $(3.15) $10.85 $18.66 $9.62 $(10.59) $10.84
Less Distributions            
From net investment income $(0.34) $(0.36) $(0.29) $(0.20) $(0.22) $(0.22)
From net realized gain (1.95) (1.02)  —  — (0.79) (0.55)
Total distributions $(2.29) $(1.38) $(0.29) $(0.20) $(1.01) $(0.77)
Net asset value — End of period $70.37 $75.81 $66.34 $47.97 $38.55 $50.15
Total Return(2) (4.39)%(3) 16.54% 39.04% 25.05% (21.66)% 27.40%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $563,159 $534,017 $483,729 $354,003 $297,905 $209,865
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.39%(5) 0.39% 0.39% 0.41% 0.40% 0.41%
Net expenses 0.24%(5)(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%
Net investment income 0.58%(5) 0.56% 0.66% 0.74% 0.61% 0.57%
Portfolio Turnover 7%(3) 30% 30% 23% 19% 25%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
15
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class R6
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30, Period Ended
September 30,
2022(1)
  2025 2024 2023
Net asset value — Beginning of period $75.63 $66.21 $47.91 $38.55 $50.25
Income (Loss) From Operations          
Net investment income(2) $0.23 $0.40 $0.40 $0.35 $0.19
Net realized and unrealized gain (loss) (3.35) 10.46 18.24 9.28 (11.89)
Total income (loss) from operations $(3.12) $10.86 $18.64 $9.63 $(11.70)
Less Distributions          
From net investment income $(0.40) $(0.42) $(0.34) $(0.27) $ —
From net realized gain (1.95) (1.02)  —  —  —
Total distributions $(2.35) $(1.44) $(0.34) $(0.27) $ —
Net asset value — End of period $70.16 $75.63 $66.21 $47.91 $38.55
Total Return(3) (4.37)%(4) 16.59% 39.07% 25.09% (23.28)%(4)
Ratios/Supplemental Data          
Net assets, end of period (000’s omitted) $223,202 $118,088 $101,107 $58,046 $864
Ratios (as a percentage of average daily net assets):(5)          
Total expenses 0.30%(6) 0.31% 0.36% 0.37% 0.40%(6)
Net expenses(7) 0.21%(6) 0.21% 0.21% 0.21% 0.21%(6)
Net investment income 0.62%(6) 0.59% 0.68% 0.76% 0.68%(6)
Portfolio Turnover 7%(4) 30% 30% 23% 19%(4)(8)
    
(1) For the period from the commencement of operations, February 1, 2022, to September 30, 2022.
(2) Computed using average shares outstanding.
(3) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(4) Not annualized.
(5) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(6) Annualized.
(7) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024 and 2023 and the period ended September 30, 2022).
(8) For the year ended September 30, 2022.
16
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies
Calvert US Large-Cap Growth Responsible Index Fund (the Fund) is a diversified series of Calvert Responsible Index Series, Inc. (the Corporation). The Corporation is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The investment objective of the Fund is to seek to track the performance of the Calvert US Large-Cap Growth Responsible Index, which measures the investment return of large-capitalization stocks.
The Fund offers three classes of shares. Class A shares are generally sold subject to a sales charge imposed at time of purchase. A contingent deferred sales charge of 0.25% may apply to certain redemptions of Class A shares for accounts for which no sales charge was paid, if redeemed within 12 months of purchase. Class I and Class R6 shares are sold at net asset value, are not subject to a sales charge and are sold only to certain eligible investors. Each class represents a pro rata interest in the Fund, but votes separately on class-specific matters and is subject to different expenses.
The Fund applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946). Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements.
A  Investment Valuation— Net asset value per share is determined every business day as of the close of the regular session of the New York Stock Exchange (generally 4:00 p.m. Eastern time). The Fund uses independent pricing services approved by the Board of Directors (the Board) to value its investments wherever possible. Investments for which market quotations are not available or deemed not reliable are fair valued in good faith by the
Board’s valuation designee.
U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Valuation techniques used to value the Fund’s investments by major category are as follows:
Equity Securities. Equity securities (including warrants and rights) listed on a U.S. securities exchange generally are valued at the last sale or closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price and are categorized as Level 1 in the hierarchy. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices and are categorized as Level 2 in the hierarchy.
Other Securities.  Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day and are categorized as Level 1 in the hierarchy.
Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Board has designated the Fund’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
The values assigned to fair value investments are based on available information and do not necessarily represent amounts that might ultimately be realized. Further, due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed, and the differences could be material.
17

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The following table summarizes the market value of the Fund's holdings as of March 31, 2026, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3(1) Total
Common Stocks $905,921,140(2) $ — $ — $905,921,140
Rights  —  — 1,166 1,166
Short-Term Investments:        
Affiliated Fund 2,368,900  —  — 2,368,900
Securities Lending Collateral 432,974  —  — 432,974
Total Investments $908,723,014 $ — $1,166 $908,724,180
    
(1) None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.
(2) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended March 31, 2026 is not presented.
B  Investment Transactions and Income— Investment transactions for financial statement purposes are accounted for on trade date. Realized gains and losses are recorded on an identified cost basis and may include proceeds from litigation. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities or, in the case of dividends on certain foreign securities, as soon as the Fund is informed of the ex-dividend date. Non-cash dividends are recorded at the fair value of the securities received. Withholding taxes on foreign dividends, if any, have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received that represent a return of capital are recorded as a reduction of cost of investments. Distributions received that represent a capital gain are recorded as a realized gain. Interest income is accrued as earned.
C  Share Class Accounting— Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based upon the relative net assets of each class to the total net assets of the Fund. Expenses arising in connection with a specific class are charged directly to that class. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer agency fees and expenses on the Statement of Operations, are not allocated to Class R6 shares.
D  Restricted Securities— The Fund may invest in securities that are subject to legal or contractual restrictions on resale. Generally, these securities may only be sold publicly upon registration under the Securities Act of 1933 or in transactions exempt from such registration. Information regarding restricted securities (excluding Rule 144A securities) is included at the end of the Schedule of Investments.
E  Distributions to Shareholders— Distributions to shareholders are recorded by the Fund on ex-dividend date. Distributions from net investment income and distributions from net realized capital gains, if any, are paid at least annually. Distributions are declared separately for each class of shares. Distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP; accordingly, periodic reclassifications are made within the Fund's capital accounts to reflect income and gains available for distribution under income tax regulations.
F  Estimates— The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
G  Indemnifications— The Corporation’s By-Laws provide for indemnification for Directors or officers of the Corporation and certain other parties, to the fullest extent permitted by Maryland law and the 1940 Act, provided certain conditions are met. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.
H  Federal and Other Taxes— No provision for federal income or excise tax is required since the Fund intends to continue to qualify as a regulated investment company under the Internal Revenue Code and to distribute substantially all of its taxable earnings. Management has analyzed the Fund's tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Fund's financial statements. A Fund's federal tax return is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.
I  Segment Reporting— The Fund operates as a single reportable segment, an investment company whose investment objective(s) is included in Note 1. The Fund’s President acts as the Fund's Chief Operating Decision Maker (CODM), who is responsible for assessing the performance of the Fund's single segment and deciding how to allocate the segment’s resources. To perform this function, the CODM reviews the information in the Fund’s financial statements.
18

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

J  Interim Financial Statements— The interim financial statements relating to March 31, 2026 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund's management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.
2  Related Party Transactions
The investment advisory fee is earned by Calvert Research and Management (CRM), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Fund. The investment advisory fee is computed at the annual rate of 0.12% of the Fund’s average daily net assets and is payable monthly. For the six months ended March 31, 2026, the investment advisory fee amounted to $526,956.
The Fund may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the “Liquidity Fund”), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment advisory fee paid by the Fund is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the six months ended March 31, 2026, the investment advisory fee paid was reduced by $1,909 relating to the Fund’s investment in the Liquidity Fund.
CRM has agreed to reimburse the Fund’s operating expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 0.49%, 0.24% and 0.21% for Class A, Class I and Class R6, respectively, of such class’s average daily net assets. The expense reimbursement agreement with CRM may be changed or terminated after February 1, 2027. For the six months ended March 31, 2026, CRM waived and/or reimbursed expenses of $600,811.
The administrative fee is earned by CRM as compensation for administrative services rendered to the Fund. The fee is computed at an annual rate of 0.12% of the Fund’s average daily net assets attributable to Class A, Class I and Class R6 and is payable monthly. For the six months ended March 31, 2026, CRM was paid administrative fees of $526,956.
The Fund has in effect a distribution plan for Class A shares (Class A Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class A Plan, the Fund pays Eaton Vance Distributors, Inc. (EVD), an affiliate of CRM and the Fund’s principal underwriter, a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Class A shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued for the six months ended March 31, 2026 amounted to $160,878 for Class A shares.
The Fund was informed that EVD received $12,132 as its portion of the sales charge on sales of Class A shares for the six months ended March 31, 2026. The Fund was also informed that EVD received no contingent deferred sales charges paid by Class A shareholders for the same period.
Eaton Vance Management (EVM), an affiliate of CRM, provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended March 31, 2026, sub-transfer agency fees and expenses incurred to EVM amounted to $10,142 and are included in transfer agency fees and expenses on the Statement of Operations.
Each Director of the Fund who is not an employee of CRM or its affiliates receives an annual fee of $250,000, an annual Committee fee ranging from $8,500 to $16,500 depending on the Committee, and may receive a fee of $10,000 for special meetings. The Board chair receives an additional $75,000 ($55,000 prior to January 1, 2026) annual fee, Committee chairs receive an additional $20,000 annual fee and the special equities liaison receives an additional $2,500 annual fee. Eligible Directors may participate in a Deferred Compensation Plan (the Plan). Amounts deferred under the Plan are treated as though equal dollar amounts had been invested in shares of the Fund or other Calvert funds selected by the Directors. The Fund purchases shares of the funds selected equal to the dollar amounts deferred under the Plan, resulting in an asset equal to the deferred compensation liability. Obligations of the Plan are paid solely from the Fund's assets. Directors’ fees are allocated to each of the Calvert funds served. Salaries and fees of officers and Directors of the Fund who are employees of CRM or its affiliates are paid by CRM.
3  Investment Activity
During the six months ended March 31, 2026, the cost of purchases and proceeds from sales of investments, other than short-term securities, were $240,857,859 and $59,757,436, respectively.
19

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

4  Distributions to Shareholders and Income Tax Information
The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2026, as determined on a federal income tax basis, were as follows:
Aggregate cost $588,271,826
Gross unrealized appreciation $337,403,733
Gross unrealized depreciation (16,951,379)
Net unrealized appreciation $320,452,354
5  Securities Lending
To generate additional income, the Fund may lend its securities pursuant to a securities lending agency agreement with State Street Bank and Trust Company (SSBT), the securities lending agent. Security loans are subject to termination by the Fund at any time and, therefore, are not considered illiquid investments. The Fund requires that the loan be continuously collateralized by either cash or securities in an amount at least equal to the market value of the securities on loan. The market value of securities loaned is determined daily and any additional required collateral is delivered to the Fund on the next business day. Cash collateral is generally invested in a money market fund registered under the 1940 Act that is managed by an affiliate of SSBT. Any gain or loss in the market price of the loaned securities that might occur and any interest earned or dividends declared during the term of the loan would accrue to the account of the Fund. Income earned on the investment of collateral, net of broker rebates and other expenses incurred by the securities lending agent, is split between the Fund and the securities lending agent based on agreed upon contractual terms. Non-cash collateral, if any, is held by the lending agent on behalf of the Fund and cannot be sold or re-pledged by the Fund; accordingly, such collateral is not reflected in the Statement of Assets and Liabilities.
The risks associated with lending portfolio securities include, but are not limited to, possible delays in receiving additional collateral or in the recovery of the loaned securities, possible loss of rights to the collateral should the borrower fail financially, as well as risk of loss in the value of the collateral or the value of the investments made with the collateral. The securities lending agent shall indemnify the Fund in the case of default of any securities borrower.
At March 31, 2026, the total value of securities on loan was $1,355,255 and the total value of collateral received was $1,329,094, comprised of cash of $432,974 and U.S. government and/or agencies securities of $896,120.
The following table provides a breakdown of securities lending transactions accounted for as secured borrowings, the obligations by class of collateral pledged, and the remaining contractual maturity of those transactions as of March 31, 2026.
  Remaining Contractual Maturity of the Transactions
  Overnight and
Continuous
<30 days 30 to 90 days >90 days Total
Common Stocks $432,974 $ — $ — $ — $432,974
The carrying amount of the liability for deposits for securities loaned at March 31, 2026 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 1A) at March 31, 2026.
6  Line of Credit
The Fund participates with other portfolios and funds managed by EVM and its affiliates, including CRM, in a $650 million unsecured revolving line of credit agreement with a group of banks, which is in effect through October 20, 2026. Borrowings are made by the Fund solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Fund based on its borrowings generally at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. In connection with the renewal of the agreement in October 2025, an arrangement fee of $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time.
The Fund had no borrowings outstanding pursuant to its line of credit at March 31, 2026. The Fund did not have any significant borrowings or allocated fees during the six months ended March 31, 2026.
20

 

Table of Contents
Calvert
US Large-Cap Growth Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

7  Affiliated Investments
At March 31, 2026, the value of the Fund’s investment in funds that may be deemed to be affiliated was $2,368,900, which represents 0.3% of the Fund’s net assets. Transactions in such investments by the Fund for the six months ended March 31, 2026 were as follows:
Name Value,
beginning
of period
Purchases Sales
proceeds
Net
realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Value,
end of
period
Dividend
income
Shares,
end of
period
Short-Term Investments            
Liquidity Fund $1,718,172 $76,459,966 $(75,809,238) $ — $ — $2,368,900 $48,862 2,368,900
8  Capital Shares
The Corporation may issue its shares in one or more series (such as the Fund). The authorized shares of the Fund consist of 75,000,000 common shares, $0.01 par value, for each Class.
Transactions in capital shares were as follows:
  Six Months Ended
March 31, 2026
(Unaudited)
  Year Ended
September 30, 2025
  Shares Amount   Shares Amount
Class A          
Shares sold 231,052 $17,149,342   339,255 $22,680,540
Reinvestment of distributions 43,861 3,313,737   29,234 2,018,906
Shares redeemed (202,948) (15,172,014)   (425,849) (28,533,890)
Net increase (decrease) 71,965 $5,291,065   (57,360) $(3,834,444)
Class I          
Shares sold 1,560,173 $118,176,413   1,671,659 $115,294,718
Reinvestment of distributions 221,825 16,929,697   141,390 9,860,511
Shares redeemed (823,454) (62,432,712)   (2,060,915) (140,432,864)
Net increase (decrease) 958,544 $72,673,398   (247,866) $(15,277,635)
Class R6          
Shares sold 1,663,791 $126,331,828   452,262 $30,401,221
Reinvestment of distributions 53,907 4,101,215   32,441 2,256,282
Shares redeemed (97,685) (7,244,264)   (450,325) (29,694,656)
Net increase 1,620,013 $123,188,779   34,378 $2,962,847
21

 

Table of Contents
  This Page Intentionally Left Blank

 

Table of Contents
CGJAX-NCSR 3.31.26



Calvert
International Responsible Index Fund
Semi-Annual Financial Statements and
Additional Information
March 31, 2026


 

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the prospectus and/or statement of additional information, which can be obtained by calling 1-800-368-2745 or from a financial intermediary. Prospective investors should read the prospectus carefully before investing. 

 

Semi-Annual Financial Statements and Additional Information March 31, 2026
Calvert
International Responsible Index Fund
Table of Contents  
Items 6 and 7 of Form N-CSR:  
Schedule of Investments 1
Statement of Assets and Liabilities 11
Statement of Operations 13
Statements of Changes in Net Assets 14
Financial Highlights 15
Notes to Financial Statements 18
Items 8, 9 and 11 of Form N-CSR are Not Applicable. For Item 10 of Form N-CSR, see Item 7.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited)

Common Stocks — 99.2%
    
Security Shares Value
Australia — 5.0%  
ANZ Group Holdings Ltd.   178,181 $    4,480,405
APA Group   83,617        576,013
ASX Ltd.   12,187        442,175
BlueScope Steel Ltd.   64,170      1,161,517
Brambles Ltd.   94,928      1,489,826
CAR Group Ltd.   24,284        387,654
Cochlear Ltd.   4,040        475,390
Coles Group Ltd.   89,551      1,358,019
Commonwealth Bank of Australia(1)   90,010 10,540,779
Computershare Ltd.   27,646 545,247
CSL Ltd.   30,451 2,990,866
Evolution Mining Ltd.   289,351 2,605,523
Fortescue Ltd.   222,472 3,179,036
Goodman Group(1)   128,670 2,310,078
Insurance Australia Group Ltd.   135,051 685,581
JB Hi-Fi Ltd.   6,918 350,043
Macquarie Group Ltd.   21,691 3,081,354
Medibank Pvt Ltd.   169,618 513,227
National Australia Bank Ltd.(1)   177,773 5,142,201
Northern Star Resources Ltd.   164,105 2,385,561
Pro Medicus Ltd.(1)   3,214 264,888
Qantas Airways Ltd.   37,771 221,876
QBE Insurance Group Ltd.   92,330 1,362,491
REA Group Ltd.(1)   3,413 373,923
Reece Ltd.(1)   13,514 125,750
Scentre Group   306,402 706,970
SGH Ltd.(1)   15,057 428,387
Sonic Healthcare Ltd.   28,021 398,144
South32 Ltd.   637,485 1,930,308
Stockland   140,481 421,700
Suncorp Group Ltd.   63,389 711,394
Technology One Ltd.   19,211 364,670
Telstra Group Ltd.   258,301 953,546
Transurban Group   195,729 1,909,305
Vicinity Ltd.   215,492 351,552
Wesfarmers Ltd.   65,200 3,328,849
Westpac Banking Corp.(1)   202,246 5,589,121
WiseTech Global Ltd.   11,064 298,513
Woolworths Group Ltd.   83,568 2,110,279
      $66,552,161
Austria — 0.3%  
ANDRITZ AG   4,246 $295,343
BAWAG Group AG(2)   3,421 520,086
Erste Group Bank AG   15,845 1,711,661
OMV AG   20,549 1,503,366
Verbund AG   3,096 236,594
      $4,267,050
Security Shares Value
Belgium — 0.7%  
Ackermans & van Haaren NV   818 $      251,543
Ageas SA   7,568        557,103
Anheuser-Busch InBev SA   48,847      3,379,532
D'ieteren Group   906        167,749
Elia Group SA(3)   2,918        448,202
Financiere de Tubize SA   963        238,887
Groupe Bruxelles Lambert NV   3,264        296,908
KBC Ancora   2,000        163,795
KBC Group NV   10,776 1,318,896
Lotus Bakeries NV(1)   16 180,652
Sofina SA(1)   844 204,945
UCB SA   5,834 1,757,765
Warehouses De Pauw CVA   8,082 210,533
      $9,176,510
Canada — 10.4%  
Agnico Eagle Mines Ltd.   33,148 $6,728,489
Alamos Gold, Inc., Class A   61,865 2,752,372
Alimentation Couche-Tard, Inc.   53,480 3,031,341
AltaGas Ltd.   46,507 1,613,085
Bank of Montreal   42,529 5,760,416
Bank of Nova Scotia   75,044 5,204,151
BCE, Inc.(1)   20,902 527,396
Brookfield Asset Management Ltd., Class A(1)   23,454 1,042,793
Brookfield Corp.   123,620 5,009,316
CAE, Inc.(3)   24,861 647,305
Cameco Corp.   39,915 4,340,695
Canadian Imperial Bank of Commerce(1)   53,895 5,107,840
Canadian National Railway Co.   37,477 3,857,348
Canadian Pacific Kansas City Ltd.(1)   56,120 4,416,258
Canadian Tire Corp. Ltd., Class A   2,404 323,298
CCL Industries, Inc., Class B   10,684 669,411
Celestica, Inc.(3)   7,262 2,048,562
CGI, Inc.   12,196 891,620
Constellation Software, Inc.   1,286 2,257,493
Definity Financial Corp.   5,807 273,381
Descartes Systems Group, Inc.(3)   5,698 408,129
Dollarama, Inc.   16,189 1,986,879
Element Fleet Management Corp.   22,491 487,782
Emera, Inc.(1)   19,211 995,834
Empire Co. Ltd., Class A   7,110 254,684
FirstService Corp.(1)   2,767 384,926
Fortis, Inc.   34,334 1,915,507
George Weston Ltd.   10,357 731,713
GFL Environmental, Inc.   17,179 716,625
Gildan Activewear, Inc.   11,787 656,415
Great-West Lifeco, Inc.   18,553 868,901
Hydro One Ltd.(2)   19,532 806,638
iA Financial Corp., Inc.   5,434 603,049
IGM Financial, Inc.(1)   4,844 230,796
Intact Financial Corp.   10,553 1,912,300
 
1
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Canada (continued)  
Ivanhoe Mines Ltd., Class A(1)(3)   114,044 $      974,756
Kinross Gold Corp.   118,243      3,615,035
Loblaw Cos. Ltd.   39,385      1,795,555
Lundin Gold, Inc.   14,592      1,115,143
Lundin Mining Corp.   100,195      2,498,573
Magna International, Inc.   15,676        875,472
Manulife Financial Corp.   100,152      3,449,992
Metro, Inc.   15,656      1,071,194
National Bank of Canada   23,683 3,064,608
Nutrien Ltd.(1)   34,493 2,603,774
Open Text Corp.(1)   14,132 314,925
Power Corp. of Canada(1)   31,305 1,507,078
Quebecor, Inc., Class B   11,278 478,895
RB Global, Inc.   12,048 1,155,434
Rogers Communications, Inc., Class B   24,741 951,509
Royal Bank of Canada(1)   74,018 11,965,472
Saputo, Inc.   17,192 537,103
Shopify, Inc., Class A(3)   74,431 8,829,005
Stantec, Inc.   7,224 624,512
Sun Life Financial, Inc.   33,519 2,099,907
Teck Resources Ltd., Class B   60,630 3,142,422
TELUS Corp.   31,329 402,676
TFI International, Inc.   4,432 482,419
Thomson Reuters Corp.   8,847 798,526
TMX Group Ltd.   17,677 626,847
Toromont Industries Ltd.   5,307 743,003
Toronto-Dominion Bank   94,655 8,840,182
Waste Connections, Inc.   16,636 2,702,946
WSP Global, Inc.   8,424 1,311,046
      $138,040,757
Denmark — 1.2%  
ALK-Abello AS   6,202 $196,081
AP Moller - Maersk AS, Class B   254 634,461
Carlsberg AS, Class B   5,390 672,933
Coloplast AS, Class B   6,785 462,187
Danske Bank AS   29,701 1,463,741
Demant AS(3)   4,371 132,457
DSV AS   9,403 2,270,901
Genmab AS(3)   2,971 800,154
Jyske Bank AS   1,791 245,765
Novo Nordisk AS, Class B   161,448 5,908,103
Novonesis (Novozymes), Class B   17,607 1,046,052
Orsted AS(2)(3)   23,447 581,462
Pandora AS   4,031 288,111
Rockwool AS, Class B   4,652 129,208
Tryg AS   13,057 311,857
Vestas Wind Systems AS   48,058 1,449,954
      $16,593,427
Security Shares Value
Finland — 1.0%  
Amer Sports, Inc.(3)   7,057 $      232,316
Elisa OYJ   6,281        305,950
Fortum OYJ(1)   23,138        591,702
Kesko OYJ, Class B   11,334        251,709
Kone OYJ, Class B   17,033      1,087,399
Konecranes OYJ   11,913        390,993
Metso OYJ   34,420        596,509
Neste OYJ   56,419      1,833,480
Nokia OYJ   245,975 1,973,215
Nordea Bank Abp   157,029 2,693,507
Orion OYJ, Class B   4,894 395,565
Sampo OYJ, Class A   105,443 1,127,218
Stora Enso OYJ, Class R(1)   33,759 396,428
UPM-Kymmene OYJ(1)   24,776 775,483
Valmet OYJ(1)   7,840 224,330
Wartsila OYJ Abp   24,717 920,658
      $13,796,462
France — 7.2%  
Accor SA   12,638 $606,159
Air Liquide SA   33,266 6,876,032
Alstom SA(3)   21,480 614,290
Amundi SA(2)   2,334 200,579
AXA SA   82,733 3,801,708
Ayvens SA(2)   13,428 158,318
BioMerieux   2,430 259,606
BNP Paribas SA   49,442 4,710,024
Bouygues SA   8,959 519,234
Bureau Veritas SA   21,180 633,947
Capgemini SE   9,199 1,085,468
Carrefour SA   35,457 656,516
Cie de Saint-Gobain SA   45,835 3,794,882
Cie Generale des Etablissements Michelin SCA   34,763 1,190,942
Covivio SA   2,495 149,110
Credit Agricole SA   54,445 1,016,180
Danone SA   36,164 2,889,762
Dassault Systemes SE   34,329 694,965
Edenred SE   15,482 308,385
Eiffage SA   3,806 583,717
Elis SA   12,454 352,678
Engie SA   90,593 2,919,581
EssilorLuxottica SA   16,647 3,879,169
Eurofins Scientific SE   6,651 485,317
Gecina SA   2,588 204,196
Getlink SE   12,046 259,939
Hermes International SCA   1,697 3,214,713
Ipsen SA   1,880 351,341
Kering SA   3,552 1,078,612
Klepierre SA   11,318 424,902
Legrand SA   15,055 2,338,864
L'Oreal SA   11,637 4,751,277
 
2
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
France (continued)  
LVMH Moet Hennessy Louis Vuitton SE   11,965 $    6,540,659
Orange SA   104,702      2,146,711
Pernod Ricard SA   11,723        871,744
Publicis Groupe SA   11,748        972,376
Renault SA   9,165        314,212
Rexel SA   14,220        563,482
Safran SA   19,999      6,544,260
Sanofi SA   59,312      5,727,746
Sartorius Stedim Biotech   1,493 290,780
Schneider Electric SE   31,832 8,670,452
SCOR SE   7,381 263,799
SEB SA   1,385 71,559
Societe Generale SA   35,887 2,620,357
Sodexo SA(1)   4,875 250,244
SPIE SA   6,633 332,152
Technip Energies NV   7,104 300,198
Teleperformance SE   3,016 177,229
Thales SA   4,905 1,438,367
Unibail-Rodamco-Westfield(3)   6,147 678,171
Veolia Environnement SA   38,742 1,475,528
Vinci SA   26,692 4,006,448
      $95,266,887
Germany — 6.8%  
adidas AG   9,185 $1,486,654
Allianz SE   20,147 8,508,449
Aumovio SE(3)   3,007 117,757
Bayerische Motoren Werke AG   18,044 1,669,191
Bechtle AG   4,581 157,979
Beiersdorf AG   4,879 438,560
BioNTech SE ADR(3)   4,826 428,935
Brenntag SE   6,472 438,402
Carl Zeiss Meditec AG   1,767 50,789
Commerzbank AG   35,088 1,279,986
Continental AG   6,015 419,890
CTS Eventim AG & Co. KGaA   3,411 199,785
Daimler Truck Holding AG   27,549 1,356,673
Deutsche Boerse AG   9,501 2,783,274
Deutsche Lufthansa AG   32,660 278,125
Deutsche Post AG   52,072 2,744,554
Deutsche Telekom AG   192,511 7,185,139
E.ON SE   127,910 2,801,416
Evonik Industries AG   13,617 267,202
Fraport AG Frankfurt Airport Services Worldwide(3)   1,989 173,274
Fresenius SE & Co. KGaA   24,097 1,250,532
FUCHS SE, PFC Shares   5,354 227,751
GEA Group AG   8,301 595,328
Hannover Rueck SE   3,264 1,026,204
Heidelberg Materials AG   15,876 3,350,415
Hella GmbH & Co. KGaA   1,500 128,841
Henkel AG & Co. KGaA   14,956 1,074,296
Security Shares Value
Germany (continued)  
HOCHTIEF AG   889 $      404,381
Infineon Technologies AG   73,473      3,333,185
KION Group AG   3,748        200,263
Knorr-Bremse AG   4,685        535,270
LEG Immobilien SE   5,135        335,427
Mercedes-Benz Group AG   44,046      2,707,195
Merck KGaA   7,571        961,924
MTU Aero Engines AG   3,371      1,229,804
Muenchener Rueckversicherungs-Gesellschaft AG   6,990 4,414,474
Nemetschek SE   3,640 272,490
Qiagen NV   12,135 485,885
SAP SE   61,919 10,556,110
Scout24 SE(2)   4,026 310,640
Siemens AG   43,092 10,498,681
Siemens Energy AG   47,085 8,119,783
Siemens Healthineers AG(2)   22,355 953,800
Symrise AG   7,504 640,780
Talanx AG   3,112 386,159
thyssenkrupp AG   60,606 534,030
Tkms AG& Co. KGaA(3)   978 90,207
Volkswagen AG   12,502 1,307,590
Vonovia SE   47,896 1,197,996
Zalando SE(2)(3)   11,463 280,050
      $90,195,525
Hong Kong — 1.5%  
AIA Group Ltd.   558,383 $6,204,373
BOC Hong Kong Holdings Ltd.   192,850 1,063,954
Chow Tai Fook Jewellery Group Ltd.(1)   128,000 179,914
CK Infrastructure Holdings Ltd.   31,500 252,605
CLP Holdings Ltd.   91,000 856,754
Henderson Land Development Co. Ltd.(1)   71,355 265,098
HKT Trust & HKT Ltd.   171,000 267,221
Hong Kong & China Gas Co. Ltd.   607,000 552,158
Hong Kong Exchanges & Clearing Ltd.   63,599 3,208,441
Hongkong Land Holdings Ltd.   62,000 483,165
Lenovo Group Ltd.(1)   475,000 571,288
Link REIT   147,900 685,489
MTR Corp. Ltd.(1)   71,376 292,496
Power Assets Holdings Ltd.   76,500 596,851
Sino Land Co. Ltd.   178,000 261,241
Sun Hung Kai Properties Ltd.   91,301 1,520,238
Swire Pacific Ltd., Class A   24,393 266,609
Swire Properties Ltd.   72,600 212,664
Techtronic Industries Co. Ltd.   69,493 922,883
WH Group Ltd.(2)   432,041 567,890
Wharf Holdings Ltd.(1)   63,779 176,635
Wharf Real Estate Investment Co. Ltd.   88,000 256,092
      $19,664,059
 
3
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Ireland — 0.7%  
AIB Group PLC   86,680 $      925,319
Bank of Ireland Group PLC   38,736        702,796
DCC PLC   13,221        818,870
Experian PLC   56,580      1,957,357
ICON PLC(3)   3,631        401,806
James Hardie Industries PLC, CDI(3)   82,908      1,528,886
Kerry Group PLC, Class A   8,191        652,165
Kingspan Group PLC   21,562     1,843,764
      $8,830,963
Israel — 0.7%  
Bank Hapoalim BM   135,627 $3,185,200
Check Point Software Technologies Ltd.(3)   9,687 1,383,788
CyberArk Software Ltd.(3)   4,720 212,400
Mizrahi Tefahot Bank Ltd.   17,050 1,245,956
Monday.com Ltd.(3)   5,492 379,552
Nice Ltd.(3)   6,881 759,721
Nova Ltd.(1)(3)   4,130 1,793,576
Wix.com Ltd.(3)   6,212 559,515
      $9,519,708
Italy — 2.4%  
A2A SpA   77,405 $219,181
Banca Generali SpA   3,139 187,322
Banca Mediolanum SpA   12,598 255,251
Banca Monte dei Paschi di Siena SpA   95,993 837,589
Banco BPM SpA   57,759 803,456
BPER Banca SpA   85,871 1,125,358
Brunello Cucinelli SpA   1,844 161,155
DiaSorin SpA   1,327 92,973
Enel SpA   431,037 4,712,454
Ferrari NV   7,337 2,489,472
FinecoBank Banca Fineco SpA   34,624 770,340
Generali   45,359 1,824,861
Hera SpA   48,247 222,548
Infrastrutture Wireless Italiane SpA(2)   13,855 110,567
Intesa Sanpaolo SpA   720,509 4,357,555
Italgas SpA   34,422 400,981
Moncler SpA   10,546 634,959
Nexi SpA(1)(2)   17,387 64,765
Pirelli & C SpA(2)   25,026 173,166
Poste Italiane SpA(2)   24,252 570,862
PRADA SpA   34,400 163,973
Prysmian SpA   16,874 1,992,669
Recordati Industria Chimica e Farmaceutica SpA   5,926 339,314
Reply SpA   1,181 111,143
Ryanair Holdings PLC   41,176 1,159,181
Snam SpA   119,726 906,976
Telecom Italia SpA(3)   1,017,503 714,392
Terna - Rete Elettrica Nazionale   81,035 926,831
UniCredit SpA   72,435 5,196,761
Security Shares Value
Italy (continued)  
Unipol Assicurazioni SpA   17,386 $      403,880
      $   31,929,935
Japan — 16.1%  
Advantest Corp.   38,800 $    5,354,657
Aeon Co. Ltd.   110,637      1,322,769
AGC, Inc.   28,155        997,462
Aisin Corp.   26,300        370,517
Ajinomoto Co., Inc.   50,616      1,430,977
ANA Holdings, Inc.   9,256 165,768
Asahi Group Holdings Ltd.   84,400 842,702
Asahi Kasei Corp.   81,200 794,500
Asics Corp.   35,900 965,175
Astellas Pharma, Inc.   98,071 1,598,735
Bandai Namco Holdings, Inc.   31,325 772,800
BayCurrent, Inc.   8,500 246,044
Bridgestone Corp.   62,700 1,306,559
Canon, Inc.   46,468 1,289,363
Capcom Co. Ltd.   19,000 401,507
Central Japan Railway Co.   36,835 957,754
Chiba Bank Ltd.   26,800 346,914
Chugai Pharmaceutical Co. Ltd.   36,056 1,988,432
Dai Nippon Printing Co. Ltd.   23,358 425,582
Daifuku Co. Ltd.   18,100 639,094
Dai-ichi Life Holdings, Inc.   182,676 1,684,636
Daiichi Sankyo Co. Ltd.   100,339 1,795,131
Daikin Industries Ltd.   16,000 1,919,150
Daito Trust Construction Co. Ltd.   18,000 421,815
Daiwa House Industry Co. Ltd.   31,292 981,722
Daiwa Securities Group, Inc.   62,800 595,054
Denso Corp.   94,288 1,182,191
Disco Corp.   5,500 2,241,707
East Japan Railway Co.   50,978 1,165,941
Ebara Corp.   27,300 772,812
Eisai Co. Ltd.   14,425 451,601
FANUC Corp.   57,955 2,020,133
Fast Retailing Co. Ltd.   9,626 3,803,292
Fuji Electric Co. Ltd.   8,600 602,448
FUJIFILM Holdings Corp.   59,800 1,139,527
Fujikura Ltd.   85,800 2,359,674
Fujitsu Ltd.   97,380 1,991,485
Hankyu Hanshin Holdings, Inc.   14,200 410,594
Hikari Tsushin, Inc.   800 203,529
Hitachi Construction Machinery Co. Ltd.   5,500 188,855
HOYA Corp.   19,487 3,378,273
Hulic Co. Ltd.   21,200 247,119
IHI Corp.   57,500 1,186,397
Isuzu Motors Ltd.   30,900 444,984
ITOCHU Corp.   321,000 4,083,274
Japan Airlines Co. Ltd.   7,300 119,183
Japan Exchange Group, Inc.   45,900 536,019
 
4
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Japan (continued)  
Japan Post Bank Co. Ltd.   93,900 $    1,531,530
Kajima Corp.   22,000        839,270
Kao Corp.   22,063        862,201
Kawasaki Heavy Industries Ltd.   44,500        836,918
KDDI Corp.   156,136      2,658,485
Keyence Corp.   11,500      4,092,932
Kikkoman Corp.   35,745        324,520
Kirin Holdings Co. Ltd.   50,100        796,900
Komatsu Ltd.   55,746 2,219,837
Kubota Corp.   60,294 966,223
Kyocera Corp.   69,800 1,070,281
Kyowa Kirin Co. Ltd.   12,806 209,584
Lasertec Corp.   4,300 957,066
LY Corp.   151,700 365,769
M3, Inc.   24,900 255,583
Makita Corp.   11,792 387,560
Marubeni Corp.   77,600 2,838,758
MatsukiyoCocokara & Co.   15,900 253,961
MEIJI Holdings Co. Ltd.   13,642 332,697
Mitsubishi Chemical Group Corp.   65,060 380,349
Mitsubishi Electric Corp.   110,607 3,617,632
Mitsubishi Estate Co. Ltd.   59,208 1,643,404
Mitsubishi HC Capital, Inc.   43,000 385,842
Mitsubishi Heavy Industries Ltd.   193,000 5,302,994
Mitsubishi UFJ Financial Group, Inc.(4)   640,257 10,842,061
Mitsui Fudosan Co. Ltd.   140,000 1,492,461
Mizuho Financial Group, Inc.   126,958 5,139,737
MonotaRO Co. Ltd.   16,000 173,432
MS&AD Insurance Group Holdings, Inc.   60,800 1,586,610
Murata Manufacturing Co. Ltd.   97,659 2,191,196
NEC Corp.   70,300 1,749,280
Nintendo Co. Ltd.   60,090 3,430,276
Nippon Building Fund, Inc.   410 344,268
Nippon Paint Holdings Co. Ltd.   49,345 309,420
Nippon Sanso Holdings Corp.   11,100 393,588
Nissin Foods Holdings Co. Ltd.   13,497 256,169
Nitori Holdings Co. Ltd.   22,340 354,927
Nitto Denko Corp.   40,330 806,770
Nomura Holdings, Inc.   163,300 1,285,830
Nomura Research Institute Ltd.   21,300 582,931
NTT, Inc.   1,665,000 1,665,775
Obayashi Corp.   33,300 806,542
Olympus Corp.   55,900 532,578
Oracle Corp. Japan   2,126 115,747
Oriental Land Co. Ltd.   61,985 1,054,972
ORIX Corp.   62,667 1,859,414
Osaka Gas Co. Ltd.   17,200 696,678
Otsuka Corp.   13,176 252,250
Otsuka Holdings Co. Ltd.   25,720 1,825,370
Pan Pacific International Holdings Corp.   104,000 634,426
Panasonic Holdings Corp.   120,000 2,012,562
Security Shares Value
Japan (continued)  
Rakuten Group, Inc.(3)   80,400 $      375,833
Recruit Holdings Co. Ltd.   79,479      3,462,895
Renesas Electronics Corp.   92,800      1,326,782
Resona Holdings, Inc.   108,133      1,233,554
Ryohin Keikaku Co. Ltd.   28,800        614,580
Sanrio Co. Ltd.   47,500        295,319
Sanwa Holdings Corp.   10,000        227,422
SBI Holdings, Inc.   28,800        533,270
SCREEN Holdings Co. Ltd.   9,200 548,104
SECOM Co. Ltd.   23,400 891,324
Seibu Holdings, Inc.   12,500 349,235
Sekisui Chemical Co. Ltd.   19,172 321,872
Sekisui House Ltd.   35,570 797,019
Seven & i Holdings Co. Ltd.   110,400 1,484,840
Shimadzu Corp.   15,026 357,061
Shin-Etsu Chemical Co. Ltd.   96,485 3,928,751
Shionogi & Co. Ltd.   38,862 859,664
Shiseido Co. Ltd.   22,197 453,490
Shizuoka Financial Group, Inc.   24,800 411,793
SMC Corp.   3,432 1,349,799
SoftBank Corp.   1,595,800 2,135,377
SoftBank Group Corp.   200,760 4,888,456
Sompo Holdings, Inc.   43,511 1,693,806
Sony Financial Group, Inc.   337,700 309,351
Sony Group Corp.   339,500 7,076,103
Square Enix Holdings Co. Ltd.   14,700 234,259
Subaru Corp.   28,500 459,174
Sumitomo Electric Industries Ltd.   37,073 2,106,490
Sumitomo Mitsui Financial Group, Inc.   199,559 6,561,562
Sumitomo Mitsui Trust Group, Inc.   33,132 1,055,474
Suntory Beverage & Food Ltd.   8,300 234,393
Sysmex Corp.   25,678 223,935
T&D Holdings, Inc.   26,419 676,710
Takeda Pharmaceutical Co. Ltd.   89,452 3,294,326
TDK Corp.   105,410 1,369,304
Terumo Corp.   76,192 1,023,620
TIS, Inc.   9,200 196,709
Tokio Marine Holdings, Inc.   91,700 4,304,483
Tokyo Electron Ltd.   25,078 6,230,652
Tokyo Gas Co. Ltd.   19,700 927,792
Tokyu Corp.   28,932 341,515
TOPPAN Holdings, Inc.   14,500 382,433
Toray Industries, Inc.   68,850 490,393
Toyo Suisan Kaisha Ltd.   5,400 379,759
Toyota Motor Corp.   497,215 10,335,774
Trend Micro, Inc.   6,993 233,123
Unicharm Corp.   57,106 336,359
West Japan Railway Co.   24,820 491,449
Yakult Honsha Co. Ltd.   14,572 243,838
Yamaha Motor Co. Ltd.   50,175 362,484
Yaskawa Electric Corp.   11,900 314,299
 
5
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Japan (continued)  
Yokogawa Electric Corp.   13,300 $      411,020
Yokohama Financial Group, Inc.   61,900        552,531
Zensho Holdings Co. Ltd.   6,300        367,812
ZOZO, Inc.   19,200       134,456
      $  213,871,251
Netherlands — 4.6%  
ABN AMRO Bank NV(2)   31,876 $    1,010,495
Adyen NV(2)(3)   1,602      1,603,362
Aegon Ltd.   66,078 483,243
AerCap Holdings NV   8,038 1,102,653
Akzo Nobel NV   10,392 597,387
Argenx SE(3)   3,389 2,459,530
ASM International NV   2,600 1,970,677
ASML Holding NV   19,371 25,758,704
ASR Nederland NV   7,189 494,940
BE Semiconductor Industries NV   4,086 875,196
CTP NV(2)   7,649 128,017
Euronext NV(2)   3,962 636,225
Ferrovial SE   25,397 1,652,239
Heineken Holding NV   7,446 529,904
Heineken NV   16,397 1,261,230
IMCD NV   2,892 302,636
ING Groep NV, Series N   151,143 3,923,169
Koninklijke Ahold Delhaize NV   53,681 2,505,879
Koninklijke KPN NV   192,828 1,074,751
Koninklijke Vopak NV   7,867 425,803
Magnum Ice Cream Co. NV(3)   26,962 396,767
Nebius Group NV(1)(3)   11,033 1,144,784
NN Group NV   13,799 1,077,645
NXP Semiconductors NV   14,027 2,761,355
Prosus NV   67,297 3,115,551
Randstad NV(1)   6,100 159,209
Stellantis NV   99,143 716,564
STMicroelectronics NV   33,886 1,153,093
Universal Music Group NV   67,911 1,318,207
Wolters Kluwer NV   13,836 1,033,386
      $61,672,601
New Zealand — 0.1%  
Auckland International Airport Ltd.   74,460 $341,236
Fisher & Paykel Healthcare Corp. Ltd.   26,716 579,295
Meridian Energy Ltd.   60,330 193,123
Xero Ltd.(3)   7,485 395,581
      $1,509,235
Norway — 0.7%  
DNB Bank ASA   47,321 $1,480,610
Gjensidige Forsikring ASA   12,137 317,488
Kongsberg Gruppen ASA   28,814 1,229,760
Mowi ASA   27,597 627,660
Security Shares Value
Norway (continued)  
Norsk Hydro ASA   185,435 $    1,976,439
Orkla ASA   50,978        641,539
Salmar ASA   5,001        292,798
SpareBank 1 Sor-Norge ASA   14,088        307,833
Storebrand ASA   27,289        492,560
Telenor ASA   36,586        645,509
Vend Marketplaces ASA, Class B   11,064        273,897
Yara International ASA   11,885       694,730
      $8,980,823
Portugal — 0.1%  
Banco Comercial Portugues SA, Class R   543,542 $529,392
EDP SA   177,508 939,319
Jeronimo Martins SGPS SA   19,321 461,991
      $1,930,702
Singapore — 1.2%  
CapitaLand Ascendas REIT   205,000 $395,641
CapitaLand Integrated Commercial Trust   325,380 583,490
CapitaLand Investment Ltd.   128,100 272,673
DBS Group Holdings Ltd.   110,471 4,915,973
Grab Holdings Ltd., Class A(3)   136,822 500,768
Keppel Ltd.   81,100 747,111
Oversea-Chinese Banking Corp. Ltd.   177,271 3,036,253
Singapore Airlines Ltd.   89,956 463,875
Singapore Exchange Ltd.   42,800 652,920
Singapore Technologies Engineering Ltd.   88,800 753,666
Singapore Telecommunications Ltd.   389,712 1,500,555
United Overseas Bank Ltd.   66,059 1,890,988
      $15,713,913
South Korea — 5.4%  
Doosan Enerbility Co. Ltd.(3)   25,861 $1,625,053
Ecopro BM Co. Ltd.   2,863 375,089
Hana Financial Group, Inc.   13,445 980,098
HD Hyundai Electric Co. Ltd.   1,253 710,060
HMM Co. Ltd.   17,532 229,711
Hyundai Mobis Co. Ltd.   3,242 836,502
Hyundai Motor Co.   8,699 2,679,817
Industrial Bank of Korea   13,893 200,679
Kakao Corp.   14,183 437,861
KakaoBank Corp.   9,271 151,063
KB Financial Group, Inc.   17,724 1,739,973
Kia Corp.   12,349 1,219,229
Krafton, Inc.   1,857 317,467
KT Corp.   7,272 290,941
LG Chem Ltd.   2,937 600,320
LG Electronics, Inc.   6,427 465,957
LG Energy Solution Ltd.(3)   2,518 688,852
Meritz Financial Group, Inc.(3)   4,021 304,914
Mirae Asset Securities Co. Ltd.   12,095 512,589
 
6
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
South Korea (continued)  
NAVER Corp.   7,427 $    1,011,174
POSCO Holdings, Inc.   10,349      2,330,210
Samsung Biologics Co. Ltd.(2)(3)   652        668,212
Samsung C&T Corp.   4,794        840,187
Samsung Electro-Mechanics Co. Ltd.   2,858        818,843
Samsung Electronics Co. Ltd.   254,724     29,792,848
Samsung Episholdings Co. Ltd.(3)   422        143,294
Samsung Fire & Marine Insurance Co. Ltd.   1,619        484,941
Samsung Heavy Industries Co. Ltd.(3)   44,136 739,591
Samsung Life Insurance Co. Ltd.   5,393 777,605
Samsung SDS Co. Ltd.   2,354 238,503
Shinhan Financial Group Co. Ltd.   21,157 1,260,986
SK Hynix, Inc.   27,656 15,691,040
SK Innovation Co. Ltd.   9,951 730,269
SK Square Co. Ltd.(3)   4,379 1,441,797
SK Telecom Co. Ltd.   5,827 301,490
Woori Financial Group, Inc.   33,919 743,567
      $72,380,732
Spain — 2.9%  
Acciona SA   900 $236,666
Aena SME SA(2)   36,377 1,076,228
Amadeus IT Group SA   21,830 1,248,255
Banco Bilbao Vizcaya Argentaria SA   263,224 5,685,522
Banco de Sabadell SA   231,646 829,824
Banco Santander SA   676,287 7,581,665
Bankinter SA   26,046 412,500
CaixaBank SA   170,307 2,041,582
Cellnex Telecom SA(2)(3)   24,912 801,039
EDP Renovaveis SA   12,576 201,567
Endesa SA   14,214 594,057
Grifols SA(1)   23,405 244,864
Iberdrola SA   330,535 7,567,319
Indra Sistemas SA(1)   4,465 249,551
Industria de Diseno Textil SA   51,586 3,002,759
International Consolidated Airlines Group SA   184,415 867,863
Mapfre SA   32,519 144,921
Merlin Properties Socimi SA   14,170 230,862
Redeia Corp. SA   23,794 403,316
Repsol SA   152,685 4,297,849
Telefonica SA   178,086 779,220
Unicaja Banco SA(2)   60,000 178,065
      $38,675,494
Sweden — 3.0%  
AAK AB   12,128 $312,329
AddTech AB, Class B   15,456 530,371
Alfa Laval AB   16,819 919,998
Assa Abloy AB, Class B   53,403 1,930,404
Atlas Copco AB, Class A   221,355 3,906,213
Axfood AB   5,804 197,555
Security Shares Value
Sweden (continued)  
Beijer Ref AB, Class B   23,956 $      332,105
Boliden AB(3)   40,758      2,136,609
Castellum AB   19,997        231,303
Epiroc AB, Class A   58,344      1,436,244
EQT AB   25,926        804,423
Essity AB, Class B(1)   31,088        801,225
H & M Hennes & Mauritz AB, Class B(1)   19,783        370,117
Hexagon AB, Class B   104,662      1,018,583
Holmen AB, Class B   2,691 96,499
Industrivarden AB, Class A   12,183 606,788
Indutrade AB   14,507 332,629
Investment AB Latour, Class B(1)   9,861 212,576
Investor AB, Class B   114,901 4,351,842
L E Lundbergforetagen AB, Class B   4,524 257,206
Lifco AB, Class B   12,322 372,770
Nibe Industrier AB, Class B(1)   107,459 449,011
Saab AB, Class B   17,765 1,162,715
Sagax AB, Class B   10,955 202,147
Sandvik AB   56,924 2,188,263
Skandinaviska Enskilda Banken AB, Class A   74,074 1,368,806
SKF AB, Class B   17,886 431,159
Spotify Technology SA(3)   7,817 3,790,541
SSAB AB, Class A   116,016 915,421
Svenska Cellulosa AB SCA, Class B(1)   37,124 430,429
Svenska Handelsbanken AB, Class A(1)   73,012 962,570
Swedbank AB, Class A(1)   47,537 1,620,228
Swedish Orphan Biovitrum AB(3)   8,524 357,245
Tele2 AB, Class B   26,729 553,223
Telia Co. AB   114,144 584,791
Trelleborg AB, Class B   12,703 475,086
Volvo AB, Class B   98,168 3,227,695
      $39,877,119
Switzerland — 8.4%  
ABB Ltd.   90,473 $7,356,172
Accelleron Industries AG   4,826 436,204
Alcon AG   26,477 2,001,402
Amrize Ltd.(3)   60,198 3,336,586
Avolta AG   4,955 297,084
Banque Cantonale Vaudoise   1,552 252,425
Barry Callebaut AG(1)   180 316,547
Belimo Holding AG   579 470,234
BKW AG   797 157,136
Chocoladefabriken Lindt & Spruengli AG PC   120 1,685,038
Cie Financiere Richemont SA, Class A   24,781 4,375,482
Coca-Cola HBC AG   11,049 622,382
DSM-Firmenich AG   13,933 996,545
Emmi AG   100 106,909
EMS-Chemie Holding AG   388 305,080
Flughafen Zurich AG   1,193 373,571
Galderma Group AG   7,953 1,563,032
 
7
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Switzerland (continued)  
Garmin Ltd.   8,659 $    2,008,975
Geberit AG   4,099      2,766,947
Georg Fischer AG   5,014        258,668
Givaudan SA   529      1,788,814
Helvetia Baloise Holding AG   3,756        972,091
Holcim AG   48,445      4,004,557
Julius Baer Group Ltd.   10,314        758,636
Kuehne & Nagel International AG   2,477        567,246
Logitech International SA   7,641 709,578
Lonza Group AG   3,709 2,379,392
Nestle SA   142,250 13,953,445
Novartis AG   99,061 15,205,300
On Holding AG, Class A(3)   10,180 346,324
Partners Group Holding AG   1,056 1,138,199
PSP Swiss Property AG   2,619 520,002
Roche Holding AG   39,195 15,642,366
Schindler Holding AG PC   3,526 1,110,522
SFS Group AG   841 125,868
SGS SA   9,379 988,443
SIG Group AG   13,847 207,571
Sika AG   8,681 1,436,864
Sonova Holding AG   2,601 593,063
Straumann Holding AG   6,656 696,371
Sulzer AG   1,235 258,912
Swatch Group AG   1,863 411,278
Swiss Life Holding AG   1,293 1,408,353
Swiss Prime Site AG   4,262 721,634
Swiss Re AG   14,624 2,456,498
Swisscom AG   1,226 1,028,814
Temenos AG   2,067 181,165
UBS Group AG   149,093 5,813,642
VAT Group AG(2)   1,514 944,496
VZ Holding AG   706 134,346
Zurich Insurance Group AG   7,022 4,963,279
      $111,153,488
Taiwan — 7.6%  
Accton Technology Corp.   26,000 $1,282,766
Advantech Co. Ltd.   27,246 279,380
Alchip Technologies Ltd.   4,000 326,207
ASE Technology Holding Co. Ltd.   160,904 1,770,935
Asia Vital Components Co. Ltd.   17,000 1,122,841
Cathay Financial Holding Co. Ltd.   477,973 1,068,669
Chailease Holding Co. Ltd.   98,097 339,949
Chang Hwa Commercial Bank Ltd.   491,531 315,804
Chunghwa Telecom Co. Ltd.   196,055 817,316
CTBC Financial Holding Co. Ltd.   890,000 1,446,354
Delta Electronics, Inc.   106,319 4,793,960
E Ink Holdings, Inc.   45,000 196,290
E.Sun Financial Holding Co. Ltd.   749,893 749,451
Elite Material Co. Ltd.   19,000 1,621,582
Security Shares Value
Taiwan (continued)  
EVA Airways Corp.   100,000 $      107,744
Evergreen Marine Corp. Taiwan Ltd.   45,200        285,119
Far EasTone Telecommunications Co. Ltd.   72,073        208,174
First Financial Holding Co. Ltd.   603,821        537,991
Fubon Financial Holding Co. Ltd.   412,412      1,129,068
Hotai Motor Co. Ltd.   15,320        235,244
Hua Nan Financial Holdings Co. Ltd.   529,367        554,950
Jentech Precision Industrial Co. Ltd.   4,000        502,955
King Slide Works Co. Ltd.   4,000 414,460
Lite-On Technology Corp.   102,000 466,776
MediaTek, Inc.   77,883 3,735,669
Mega Financial Holding Co. Ltd.   520,468 631,660
Novatek Microelectronics Corp.   23,000 277,651
President Chain Store Corp.   29,828 210,079
Quanta Computer, Inc.   144,398 1,299,431
Realtek Semiconductor Corp.   26,000 395,430
SinoPac Financial Holdings Co. Ltd.   622,536 604,425
Taiwan Cooperative Financial Holding Co. Ltd.   584,010 432,069
Taiwan Mobile Co. Ltd.   90,748 310,276
Taiwan Semiconductor Manufacturing Co. Ltd.   1,158,240 66,986,261
TCC Group Holdings Co. Ltd.   1,070,000 779,376
TS Financial Holding Co. Ltd.   1,150,059 845,914
Uni-President Enterprises Corp.   241,000 538,332
United Microelectronics Corp.   570,000 1,021,782
Wan Hai Lines Ltd.   68,270 166,054
Wiwynn Corp.   6,000 645,635
Yageo Corp.   92,364 729,900
Yang Ming Marine Transport Corp.   122,000 200,734
Yuanta Financial Holding Co. Ltd.   509,759 724,655
      $101,109,318
United Kingdom — 11.2%  
3i Group PLC   55,791 $1,818,285
Admiral Group PLC   14,163 592,378
Anglo American PLC   96,584 4,146,891
Antofagasta PLC   45,748 2,051,545
ARM Holdings PLC ADR(3)   62,273 9,420,659
Associated British Foods PLC   17,051 426,827
AstraZeneca PLC   81,807 15,996,536
Autotrader Group PLC(2)   50,608 316,760
Aviva PLC   153,881 1,234,955
Babcock International Group PLC   16,194 251,406
BAE Systems PLC   192,303 5,638,036
Barclays PLC   734,480 3,843,890
Barratt Redrow PLC   73,517 255,698
Beazley PLC   35,193 594,634
Berkeley Group Holdings PLC(3)   6,145 281,496
BT Group PLC   306,173 858,070
Bunzl PLC   17,836 536,960
Centrica PLC   247,931 702,001
Coca-Cola Europacific Partners PLC   13,273 1,203,463
 
8
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
United Kingdom (continued)  
Compass Group PLC   108,715 $    3,033,248
Convatec Group PLC(2)   109,730        316,509
Croda International PLC   10,017        376,165
Diageo PLC   132,407      2,462,401
Diploma PLC   7,669        612,308
easyJet PLC(1)   18,664         86,840
Games Workshop Group PLC   1,878        443,953
GSK PLC   241,886      6,662,866
Haleon PLC   469,743 2,324,755
Halma PLC   23,091 1,178,352
Hikma Pharmaceuticals PLC   7,057 118,528
Hiscox Ltd.   16,611 335,294
Howden Joinery Group PLC   22,856 242,086
HSBC Holdings PLC   846,391 13,899,929
ICG PLC   17,068 350,052
IMI PLC   15,583 530,118
Informa PLC   76,271 766,045
InterContinental Hotels Group PLC   8,802 1,160,762
Intertek Group PLC   10,033 488,195
Investec PLC   30,875 237,972
J Sainsbury PLC   102,714 462,435
JD Sports Fashion PLC   156,919 148,831
JET2 PLC   9,623 143,447
Kingfisher PLC   100,207 381,021
Land Securities Group PLC   43,388 320,041
Legal & General Group PLC   321,912 1,057,910
Lloyds Banking Group PLC   3,238,806 4,014,286
London Stock Exchange Group PLC   24,020 2,836,467
LondonMetric Property PLC   117,286 283,315
M&G PLC   133,855 486,219
Marks & Spencer Group PLC   108,489 488,821
Melrose Industries PLC   70,562 478,142
Mondi PLC   31,394 354,929
National Grid PLC   289,462 4,886,147
NatWest Group PLC   430,971 3,192,609
Next PLC   5,900 996,798
Pearson PLC   37,103 489,161
Persimmon PLC   18,827 268,763
Prudential PLC   141,226 1,963,481
Reckitt Benckiser Group PLC   34,113 2,293,770
RELX PLC   111,105 3,640,061
Rentokil Initial PLC   165,341 1,026,094
Rightmove PLC   39,283 224,750
Rolls-Royce Holdings PLC   519,366 7,890,430
Sage Group PLC   57,305 642,125
Schroders PLC   33,967 261,531
Segro PLC   71,933 616,650
Severn Trent PLC   13,980 573,370
Smith & Nephew PLC   47,550 753,383
Smiths Group PLC   22,111 674,744
Spirax Group PLC   5,247 470,729
Security Shares Value
United Kingdom (continued)  
SSE PLC   71,100 $    2,457,827
St. James's Place PLC   29,384        463,639
Standard Chartered PLC   104,661      2,181,120
Standard Life PLC   44,111        399,492
Sunbelt Rentals Holdings, Inc.   26,710      1,703,866
Taylor Wimpey PLC   220,021        261,323
Tesco PLC   386,109      2,426,706
Unilever PLC   115,127      6,320,401
UNITE Group PLC   22,917 138,850
United Utilities Group PLC   39,725 692,652
Vodafone Group PLC   1,005,556 1,516,732
Weir Group PLC   16,689 625,883
Whitbread PLC   12,312 378,536
Wise PLC, Class A(3)   43,055 518,476
WPP PLC   61,718 193,021
      $148,395,852
United States — 0.0%  
Galaxy Digital, Inc., Class A(3)   9,074 $167,415
      $167,415
Total Common Stocks
(identified cost $849,352,830)
    $1,319,271,387
    
Rights — 0.0%
    
Security Shares Value
Italy — 0.0%  
Telecom Italia SpA, Exp. 4/30/26(3)   1,017,503 $           11
      $           11
Singapore — 0.0%  
CapitaLand Ascendas REIT, Exp. 4/15/26(3)       5,740 $          586
      $          586
Total Rights
(identified cost $0)
    $          597
    
Warrants — 0.0%
    
Security Shares Value
Canada — 0.0%  
Constellation Software, Inc., Exp. 3/31/40(3)(5)       1,141 $            0
Total Warrants
(identified cost $0)
    $            0
    
 
9
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Short-Term Investments — 0.3%
    
Affiliated Fund — 0.0%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.57%(6)       1,997 $        1,997
Total Affiliated Fund
(identified cost $1,997)
    $        1,997
Securities Lending Collateral — 0.3%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 3.68%(7)   3,730,431 $    3,730,431
Total Securities Lending Collateral
(identified cost $3,730,431)
    $    3,730,431
Total Short-Term Investments
(identified cost $3,732,428)
    $    3,732,428
    
     
Total Investments — 99.5%
(identified cost $853,085,258)
  $1,323,004,412
Other Assets, Less Liabilities — 0.5%   $    6,403,787
Net Assets — 100.0%   $1,329,408,199
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
The country classifications used for financial reporting purposes may differ from the classifications determined by Calvert Research and Management (CRM).
Amount is less than 0.05% or (0.05)%, as applicable.
(1) All or a portion of this security was on loan at March 31, 2026. The aggregate market value of securities on loan at March 31, 2026 was $53,457,676.
(2) Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At March 31, 2026, the aggregate value of these securities is $12,978,231 or 1.0% of the Fund's net assets.
(3) Non-income producing security.
(4) Represents an investment in an issuer that may be deemed to be an affiliate (see Note 7).
(5) Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy.
(6) May be deemed to be an affiliated investment company (see Note 7). The rate shown is the annualized seven-day yield as of March 31, 2026.
(7) Represents investment of cash collateral received in connection with securities lending.
At March 31, 2026, the concentration of the Fund’s investments in the various sectors, determined as a percentage of net assets, was as follows:
Economic Sectors % of Net Assets
Financials 25.0%
Information Technology 19.2
Industrials 16.4
Health Care 8.7
Consumer Discretionary 7.4
Materials 6.6
Consumer Staples 5.9
Communication Services 3.9
Utilities 3.4
Real Estate 1.6
Energy 1.1
Total 99.2%
    
Abbreviations: 
ADR – American Depositary Receipt
CDI – CHESS Depositary Interest
PC – Participation Certificate
PFC Shares – Preference Shares
 
10
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited)

  March 31, 2026
Assets  
Investments in securities of unaffiliated issuers, at value (identified cost $849,222,262) - including
$53,457,676 of securities on loan 
$1,312,160,354
Investments in securities of affiliated issuers, at value (identified cost $3,862,996) 10,844,058
Cash denominated in foreign currency, at value (cost $2,148,145) 2,155,046
Receivable for investments sold 18,644,275
Receivable for capital shares sold 932,016
Dividends receivable 3,838,331
Dividends receivable - affiliated 151,909
Securities lending income receivable 16,963
Tax reclaims receivable 3,343,762
Receivable from affiliates 210,769
Directors' deferred compensation plan 58,468
Total assets $1,352,355,951
Liabilities  
Payable for line of credit $10,200,000
Payable for investments purchased 6,688,832
Payable for capital shares redeemed 1,464,007
Deposits for securities loaned 3,730,431
Payable to affiliates:  
Investment advisory fee 138,936
Administrative fee 139,246
Distribution and service fees 25,066
Sub-transfer agency fee 7,301
Directors' deferred compensation plan 58,468
Accrued expenses 495,465
Total liabilities $22,947,752
Net Assets $1,329,408,199
Sources of Net Assets  
Paid-in capital $929,784,557
Distributable earnings 399,623,642
Net Assets $1,329,408,199
Class A Shares  
Net Assets $98,973,948
Shares Outstanding 2,614,148
Net Asset Value and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$37.86
Maximum Offering Price Per Share
(100 ÷ 95.25 of net asset value per share)
$39.75
Class I Shares  
Net Assets $1,023,365,660
Shares Outstanding 26,618,961
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$38.44
11
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited) — continued

  March 31, 2026
Class R6 Shares  
Net Assets $207,068,591
Shares Outstanding 5,399,809
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$38.35
    
On sales of $50,000 or more, the offering price of Class A shares is reduced.
12
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Statement of Operations (Unaudited)

  Six Months Ended
  March 31, 2026
Investment Income  
Dividend income (net of foreign taxes withheld of $1,346,335) $11,858,244
Dividend income - affiliated issuers (net of foreign taxes withheld of $15,770) 199,280
Interest income 311
Securities lending income, net 83,825
Other income 81,752
Total investment income $12,223,412
Expenses  
Investment advisory fee $808,538
Administrative fee 808,538
Distribution and service fees:  
Class A 155,371
Directors' fees and expenses 37,969
Custodian fees 96,976
Transfer agency fees and expenses 477,887
Accounting fees 143,270
Professional fees 53,227
Registration fees 31,497
Reports to shareholders 14,686
Miscellaneous 74,832
Total expenses $2,702,791
Waiver and/or reimbursement of expenses by affiliates $(597,047)
Net expenses $2,105,744
Net investment income $10,117,668
Realized and Unrealized Gain (Loss)  
Net realized gain (loss):  
Investment securities $12,434,319
Investment securities - affiliated issuers (196)
Foreign currency transactions (186,392)
Net realized gain $12,247,731
Change in unrealized appreciation (depreciation):  
Investment securities $70,091,811
Investment securities - affiliated issuers 517,283
Foreign currency (36,031)
Net change in unrealized appreciation (depreciation) $70,573,063
Net realized and unrealized gain $82,820,794
Net increase in net assets from operations $92,938,462
13
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Statements of Changes in Net Assets

  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended
September 30,
2025
Increase (Decrease) in Net Assets    
From operations:    
Net investment income $10,117,668 $27,805,607
Net realized gain (loss) 12,247,731 (1,341,499)
Net change in unrealized appreciation (depreciation) 70,573,063 164,640,405
Net increase in net assets from operations $92,938,462 $191,104,513
Distributions to shareholders:    
Class A $(3,932,740) $(2,401,905)
Class I (32,483,277) (22,075,468)
Class R6 (7,627,707) (4,874,385)
Total distributions to shareholders $(44,043,724) $(29,351,758)
Capital share transactions:    
Class A $(25,214,120) $5,471,486
Class I 21,508,219 (3,748,625)
Class R6 (10,490,030) 8,348,763
Net increase (decrease) in net assets from capital share transactions $(14,195,931) $10,071,624
Net increase in net assets $34,698,807 $171,824,379
Net Assets    
At beginning of period $1,294,709,392 $1,122,885,013
At end of period $1,329,408,199 $1,294,709,392
14
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Financial Highlights

  Class A
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $36.50 $32.14 $25.84 $21.21 $29.79 $24.08
Income (Loss) From Operations            
Net investment income(1) $0.23 $0.69 $0.62 $0.57 $0.61 $0.61
Net realized and unrealized gain (loss) 2.34 4.44 6.19 4.50 (8.64) 5.33
Total income (loss) from operations $2.57 $5.13 $6.81 $5.07 $(8.03) $5.94
Less Distributions            
From net investment income $(1.21) $(0.77) $(0.51) $(0.44) $(0.55) $(0.23)
Total distributions $(1.21) $(0.77) $(0.51) $(0.44) $(0.55) $(0.23)
Net asset value — End of period $37.86 $36.50 $32.14 $25.84 $21.21 $29.79
Total Return(2) 7.14%(3) 16.59% 26.65% 24.06% (27.50)% 24.74%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $98,974 $119,534 $100,082 $72,919 $40,139 $43,359
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.64%(5) 0.63% 0.65% 0.65% 0.65% 0.67%
Net expenses 0.54%(5)(6) 0.54%(6) 0.54%(6) 0.54%(6) 0.54%(6) 0.54%
Net investment income 1.19%(5) 2.16% 2.12% 2.21% 2.27% 2.11%
Portfolio Turnover 8%(3) 16% 10% 20% 14% 13%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
15
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class I
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $37.08 $32.62 $26.22 $21.49 $30.17 $24.43
Income (Loss) From Operations            
Net investment income(1) $0.30 $0.79 $0.70 $0.64 $0.69 $0.72
Net realized and unrealized gain (loss) 2.34 4.51 6.28 4.56 (8.75) 5.37
Total income (loss) from operations $2.64 $5.30 $6.98 $5.20 $(8.06) $6.09
Less Distributions            
From net investment income $(1.28) $(0.84) $(0.58) $(0.47) $(0.62) $(0.35)
Total distributions $(1.28) $(0.84) $(0.58) $(0.47) $(0.62) $(0.35)
Net asset value — End of period $38.44 $37.08 $32.62 $26.22 $21.49 $30.17
Total Return(2) 7.24%(3) 16.90% 26.97% 24.35% (27.32)% 25.07%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $1,023,366 $967,434 $849,121 $621,740 $468,639 $481,361
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.39%(5) 0.38% 0.40% 0.40% 0.40% 0.42%
Net expenses 0.29%(5)(6) 0.29%(6) 0.29%(6) 0.29%(6) 0.29%(6) 0.29%
Net investment income 1.54%(5) 2.43% 2.37% 2.43% 2.52% 2.43%
Portfolio Turnover 8%(3) 16% 10% 20% 14% 13%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
16
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class R6
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $37.01 $32.58 $26.20 $21.48 $30.16 $24.43
Income (Loss) From Operations            
Net investment income(1) $0.29 $0.79 $0.71 $0.65 $0.69 $0.75
Net realized and unrealized gain (loss) 2.36 4.51 6.26 4.56 (8.74) 5.34
Total income (loss) from operations $2.65 $5.30 $6.97 $5.21 $(8.05) $6.09
Less Distributions            
From net investment income $(1.31) $(0.87) $(0.59) $(0.49) $(0.63) $(0.36)
Total distributions $(1.31) $(0.87) $(0.59) $(0.49) $(0.63) $(0.36)
Net asset value — End of period $38.35 $37.01 $32.58 $26.20 $21.48 $30.16
Total Return(2) 7.29%(3) 16.96% 26.95% 24.44% (27.30)% 25.08%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $207,069 $207,742 $173,681 $119,163 $93,719 $92,734
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.31%(5) 0.30% 0.37% 0.37% 0.37% 0.39%
Net expenses 0.26%(5)(6) 0.26%(6) 0.26%(6) 0.26%(6) 0.26%(6) 0.26%
Net investment income 1.50%(5) 2.43% 2.41% 2.47% 2.52% 2.52%
Portfolio Turnover 8%(3) 16% 10% 20% 14% 13%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
17
See Notes to Financial Statements.

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies
Calvert International Responsible Index Fund (the Fund) is a diversified series of Calvert Responsible Index Series, Inc. (the Corporation). The Corporation is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The investment objective of the Fund is to seek to track the performance of the Calvert International Responsible Index, which measures the investment return of stocks issued by companies that are located in countries (other than the U.S.) with developed markets.
The Fund offers three classes of shares. Class A shares are generally sold subject to a sales charge imposed at time of purchase. A contingent deferred sales charge of 0.25% may apply to certain redemptions of Class A shares for accounts for which no sales charge was paid, if redeemed within 12 months of purchase. Class I and Class R6 shares are sold at net asset value, are not subject to a sales charge and are sold only to certain eligible investors. Each class represents a pro rata interest in the Fund, but votes separately on class-specific matters and is subject to different expenses.
The Fund applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946). Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements.
A  Investment Valuation— Net asset value per share is determined every business day as of the close of the regular session of the New York Stock Exchange (generally 4:00 p.m. Eastern time). The Fund uses independent pricing services approved by the Board of Directors (the Board) to value its investments wherever possible. Investments for which market quotations are not available or deemed not reliable are fair valued in good faith by the
Board’s valuation designee.
U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Valuation techniques used to value the Fund’s investments by major category are as follows:
Equity Securities. Equity securities (including warrants and rights) listed on a U.S. securities exchange generally are valued at the last sale or closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price and are categorized as Level 1 in the hierarchy. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices and are categorized as Level 2 in the hierarchy. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Fund’s Board has approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities. Such securities are categorized as Level 2 in the hierarchy.
Other Securities.  Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day and are categorized as Level 1 in the hierarchy.
Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Board has designated the Fund’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
The values assigned to fair value investments are based on available information and do not necessarily represent amounts that might ultimately be realized. Further, due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed, and the differences could be material.
18

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The following table summarizes the market value of the Fund's holdings as of March 31, 2026, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3(1) Total
Common Stocks:        
Australia $ — $66,552,161 $ — $66,552,161
Austria  — 4,267,050  — 4,267,050
Belgium  — 9,176,510  — 9,176,510
Canada 138,040,757  —  — 138,040,757
Denmark  — 16,593,427  — 16,593,427
Finland 232,316 13,564,146  — 13,796,462
France  — 95,266,887  — 95,266,887
Germany 914,820 89,280,705  — 90,195,525
Hong Kong  — 19,664,059  — 19,664,059
Ireland 401,806 8,429,157  — 8,830,963
Israel 4,328,831 5,190,877  — 9,519,708
Italy  — 31,929,935  — 31,929,935
Japan  — 213,871,251  — 213,871,251
Netherlands 5,008,792 56,663,809  — 61,672,601
New Zealand  — 1,509,235  — 1,509,235
Norway  — 8,980,823  — 8,980,823
Portugal  — 1,930,702  — 1,930,702
Singapore 500,768 15,213,145  — 15,713,913
South Korea  — 72,380,732  — 72,380,732
Spain  — 38,675,494  — 38,675,494
Sweden 3,790,541 36,086,578  — 39,877,119
Switzerland 2,355,299 108,798,189  — 111,153,488
Taiwan  — 101,109,318  — 101,109,318
United Kingdom 10,624,122 137,771,730  — 148,395,852
United States 167,415  —  — 167,415
Total Common Stocks $166,365,467 $1,152,905,920(2) $ — $1,319,271,387
Rights $ — $597 $ — $597
Warrants  —  — 0 0
Short-Term Investments:        
Affiliated Fund 1,997  —  — 1,997
Securities Lending Collateral 3,730,431  —  — 3,730,431
Total Investments $170,097,895 $1,152,906,517 $0 $1,323,004,412
    
(1) None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.
(2) Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended March 31, 2026 is not presented.
B  Investment Transactions and Income— Investment transactions for financial statement purposes are accounted for on trade date. Realized gains and losses are recorded on an identified cost basis and may include proceeds from litigation. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities or, in the case of dividends on certain foreign securities, as soon as the Fund is informed of the ex-dividend date. Non-cash dividends are recorded at the fair value of the securities received. Withholding taxes on foreign dividends, if any, have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received that represent a return of capital are recorded as a reduction of cost of investments. Distributions received that represent a capital gain are recorded as a realized gain. Interest income is accrued as earned.
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Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

C  Share Class Accounting— Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based upon the relative net assets of each class to the total net assets of the Fund. Expenses arising in connection with a specific class are charged directly to that class. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer agency fees and expenses on the Statement of Operations, are not allocated to Class R6 shares.
D  Foreign Currency Transactions— The Fund’s accounting records are maintained in U.S. dollars. For valuation of assets and liabilities on each date of net asset value determination, foreign denominations are converted into U.S. dollars using the current exchange rate. Security transactions, income and expenses are translated at the prevailing rate of exchange on the date of the event. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.
E  Distributions to Shareholders— Distributions to shareholders are recorded by the Fund on ex-dividend date. Distributions from net investment income and distributions from net realized capital gains, if any, are paid at least annually. Distributions are declared separately for each class of shares. Distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP; accordingly, periodic reclassifications are made within the Fund's capital accounts to reflect income and gains available for distribution under income tax regulations.
F  Estimates— The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
G  Indemnifications— The Corporation’s By-Laws provide for indemnification for Directors or officers of the Corporation and certain other parties, to the fullest extent permitted by Maryland law and the 1940 Act, provided certain conditions are met. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.
H  Federal and Other Taxes— No provision for federal income or excise tax is required since the Fund intends to continue to qualify as a regulated investment company under the Internal Revenue Code and to distribute substantially all of its taxable earnings. Management has analyzed the Fund's tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Fund's financial statements. A Fund's federal tax return is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.
I  Segment Reporting— The Fund operates as a single reportable segment, an investment company whose investment objective(s) is included in Note 1. The Fund’s President acts as the Fund's Chief Operating Decision Maker (CODM), who is responsible for assessing the performance of the Fund's single segment and deciding how to allocate the segment’s resources. To perform this function, the CODM reviews the information in the Fund’s financial statements.
J  Interim Financial Statements— The interim financial statements relating to March 31, 2026 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund's management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.
2  Related Party Transactions
The investment advisory fee is earned by Calvert Research and Management (CRM), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Fund. The investment advisory fee is computed at the annual rate of 0.12% of the Fund’s average daily net assets and is payable monthly. For the six months ended March 31, 2026, the investment advisory fee amounted to $808,538.
The Fund may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the “Liquidity Fund”), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment advisory fee paid by the Fund is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the six months ended March 31, 2026, the investment advisory fee paid was reduced by $2,110 relating to the Fund's investment in the Liquidity Fund.
CRM has agreed to reimburse the Fund’s operating expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 0.54%, 0.29% and 0.26% for Class A, Class I and Class R6, respectively, of such class’s average daily net assets. The expense reimbursement agreement with CRM may be changed or terminated after February 1, 2027. For the six months ended March 31, 2026, CRM waived and/or reimbursed expenses of $594,937.  
The administrative fee is earned by CRM as compensation for administrative services rendered to the Fund. The fee is computed at an annual rate of 0.12% of the Fund’s average daily net assets attributable to Class A, Class I and Class R6 and is payable monthly. For the six months ended March 31, 2026, CRM was paid administrative fees of $808,538.
20

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The Fund has in effect a distribution plan for Class A shares (Class A Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class A Plan, the Fund pays Eaton Vance Distributors, Inc. (EVD), an affiliate of CRM and the Fund’s principal underwriter, a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Class A shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued for the six months ended March 31, 2026 amounted to $155,371 for Class A shares.
The Fund was informed that EVD received $4,730 as its portion of the sales charge on sales of Class A shares for the six months ended March 31, 2026. The Fund was also informed that EVD received no contingent deferred sales charges paid by Class A shareholders for the same period.
Eaton Vance Management (EVM), an affiliate of CRM, provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended March 31, 2026, sub-transfer agency fees and expenses incurred to EVM amounted to $12,228 and are included in transfer agency fees and expenses on the Statement of Operations.
Each Director of the Fund who is not an employee of CRM or its affiliates receives an annual fee of $250,000, an annual Committee fee ranging from $8,500 to $16,500 depending on the Committee, and may receive a fee of $10,000 for special meetings. The Board chair receives an additional $75,000 ($55,000 prior to January 1, 2026) annual fee, Committee chairs receive an additional $20,000 annual fee and the special equities liaison receives an additional $2,500 annual fee. Eligible Directors may participate in a Deferred Compensation Plan (the Plan). Amounts deferred under the Plan are treated as though equal dollar amounts had been invested in shares of the Fund or other Calvert funds selected by the Directors. The Fund purchases shares of the funds selected equal to the dollar amounts deferred under the Plan, resulting in an asset equal to the deferred compensation liability. Obligations of the Plan are paid solely from the Fund's assets. Directors’ fees are allocated to each of the Calvert funds served. Salaries and fees of officers and Directors of the Fund who are employees of CRM or its affiliates are paid by CRM.
3  Investment Activity
During the six months ended March 31, 2026, the cost of purchases and proceeds from sales of investments, other than short-term securities, were $101,038,698 and $151,647,525, respectively.
4  Distributions to Shareholders and Income Tax Information
At September 30, 2025, the Fund, for federal income tax purposes, had deferred capital losses of $31,489,998 which would reduce the Fund's taxable income arising from future net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus would reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability for federal income or excise tax. The deferred capital losses are treated as arising on the first day of the Fund's next taxable year, can be carried forward for an unlimited period, and retain the same short-term or long-term character as when originally deferred. Of the deferred capital losses at September 30, 2025, $14,236,876 are short-term and $17,253,122 are long-term.
The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2026, as determined on a federal income tax basis, were as follows:
Aggregate cost $910,220,545
Gross unrealized appreciation $460,233,106
Gross unrealized depreciation (47,449,239)
Net unrealized appreciation $412,783,867
5  Securities Lending
To generate additional income, the Fund may lend its securities pursuant to a securities lending agency agreement with State Street Bank and Trust Company (SSBT), the securities lending agent. Security loans are subject to termination by the Fund at any time and, therefore, are not considered illiquid investments. The Fund requires that the loan be continuously collateralized by either cash or securities in an amount at least equal to the market value of the securities on loan. The market value of securities loaned is determined daily and any additional required collateral is delivered to the Fund on the next business day. Cash collateral is generally invested in a money market fund registered under the 1940 Act that is managed by an affiliate of SSBT. Any gain or loss in the market price of the loaned securities that might occur and any interest earned or dividends declared during the term of the loan would accrue to the account of the Fund. Income earned on the investment of collateral, net of broker rebates and other expenses incurred by the securities lending agent, is split between the Fund and the securities lending agent based on agreed upon contractual terms. Non-cash collateral, if any, is held by the lending agent on behalf of the Fund and cannot be sold or re-pledged by the Fund; accordingly, such collateral is not reflected in the Statement of Assets and Liabilities.
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Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The risks associated with lending portfolio securities include, but are not limited to, possible delays in receiving additional collateral or in the recovery of the loaned securities, possible loss of rights to the collateral should the borrower fail financially, as well as risk of loss in the value of the collateral or the value of the investments made with the collateral. The securities lending agent shall indemnify the Fund in the case of default of any securities borrower.
At March 31, 2026, the total value of securities on loan was $53,457,676 and the total value of collateral received was $55,063,587, comprised of cash of $3,730,431 and U.S. government and/or agencies securities of $51,333,156.
The following table provides a breakdown of securities lending transactions accounted for as secured borrowings, the obligations by class of collateral pledged, and the remaining contractual maturity of those transactions as of March 31, 2026.
  Remaining Contractual Maturity of the Transactions
  Overnight and
Continuous
<30 days 30 to 90 days >90 days Total
Common Stocks $3,730,431 $ — $ — $ — $3,730,431
The carrying amount of the liability for deposits for securities loaned at March 31, 2026 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 1A) at March 31, 2026.
6  Line of Credit
The Fund participates with other portfolios and funds managed by EVM and its affiliates, including CRM, in a $650 million unsecured revolving line of credit agreement with a group of banks, which is in effect through October 20, 2026. Borrowings are made by the Fund solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Fund based on its borrowings generally at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. In connection with the renewal of the agreement in October 2025, an arrangement fee of $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time.
At March 31, 2026, the Fund had a balance outstanding pursuant to this line of credit of $10,200,000 at an annual interest rate of 4.64%. Based on the short-term nature of the borrowings under the line of credit and variable interest rate, the carrying value of the borrowings approximated its fair value at March 31, 2026. If measured at fair value, borrowings under the line of credit would have been considered as Level 2 in the fair value hierarchy (see Note 1A) at March 31, 2026. The Fund’s average borrowings or allocated fees during the six months ended March 31, 2026 were not significant.
7  Affiliated Investments
At March 31, 2026, the value of the Fund’s investment in issuers and funds that may be deemed to be affiliated was $10,844,058, which represents 0.8% of the Fund’s net assets. Transactions in such investments by the Fund for the six months ended March 31, 2026 were as follows:
Name Value,
beginning
of period
Purchases Sales
proceeds
Net
realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Value,
end of
period
Dividend
income
Shares,
end of
period
Common Stocks            
Mitsubishi UFJ Financial Group, Inc. $10,584,711 $   588,167 $   (847,904) $(196) $517,283 $10,842,061 $141,934 640,257
Short-Term Investments            
Liquidity Fund  3,977,542 64,392,779 (68,368,324)  —  —      1,997  57,346 1,997
Total       $(196) $517,283 $10,844,058 $199,280  
8  Capital Shares
The Corporation may issue its shares in one or more series (such as the Fund). The authorized shares of the Fund consist of 75,000,000 common shares, $0.01 par value, for each Class.
22

 

Table of Contents
Calvert
International Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

Transactions in capital shares were as follows:
  Six Months Ended
March 31, 2026
(Unaudited)
  Year Ended
September 30, 2025
  Shares Amount   Shares Amount
Class A          
Shares sold 518,525 $19,837,899   831,372 $26,615,186
Reinvestment of distributions 78,126 2,864,898   57,361 1,660,026
Shares redeemed (1,257,088) (47,916,917)   (728,470) (22,803,726)
Net increase (decrease) (660,437) $(25,214,120)   160,263 $5,471,486
Class I          
Shares sold 3,538,453 $137,692,868   5,405,841 $172,811,954
Reinvestment of distributions 766,617 28,525,804   667,448 19,582,935
Shares redeemed (3,778,937) (144,710,453)   (6,007,258) (196,143,514)
Net increase (decrease) 526,133 $21,508,219   66,031 $(3,748,625)
Class R6          
Shares sold 890,813 $34,348,720   1,702,121 $55,666,989
Reinvestment of distributions 202,277 7,506,482   164,575 4,818,739
Shares redeemed (1,306,622) (52,345,232)   (1,583,639) (52,136,965)
Net increase (decrease) (213,532) $(10,490,030)   283,057 $8,348,763
9  Risks and Uncertainties
Risks Associated with Foreign Investments
Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country, and by acts of terrorism and war. There may be less publicly available information about foreign issuers because they may not be subject to reporting practices, requirements or regulations comparable to those to which United States companies are subject. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States. Trading in foreign markets typically involves higher expense than trading in the United States. The Fund may have difficulties enforcing its legal or contractual rights in a foreign country. Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates.
23

 

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Table of Contents
CDHAX-NCSR 3.31.26



Calvert
US Large-Cap Value Responsible Index Fund
Semi-Annual Financial Statements and
Additional Information
March 31, 2026


 

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the prospectus and/or statement of additional information, which can be obtained by calling 1-800-368-2745 or from a financial intermediary. Prospective investors should read the prospectus carefully before investing. 

 

Semi-Annual Financial Statements and Additional Information March 31, 2026
Calvert
US Large-Cap Value Responsible Index Fund
Table of Contents  
Items 6 and 7 of Form N-CSR:  
Schedule of Investments 1
Statement of Assets and Liabilities 10
Statement of Operations 12
Statements of Changes in Net Assets 13
Financial Highlights 14
Notes to Financial Statements 17
Items 8, 9 and 11 of Form N-CSR are Not Applicable. For Item 10 of Form N-CSR, see Item 7.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited)

Common Stocks — 99.8%
    
Security Shares Value
Aerospace & Defense — 1.1%  
ATI, Inc.(1)          33 $        4,800
General Electric Co.      66,285     18,809,694
Moog, Inc., Class A       2,348       687,119
      $   19,501,613
Air Freight & Logistics — 1.4%  
C.H. Robinson Worldwide, Inc.      20,222 $    3,358,268
Expeditors International of Washington, Inc.      15,088      2,161,054
FedEx Corp.      28,393     10,113,019
GXO Logistics, Inc.(1)   3,417 177,171
United Parcel Service, Inc., Class B   97,287 9,571,095
      $25,380,607
Automobile Components — 0.4%  
Aptiv PLC(1)   37,026 $2,571,085
Autoliv, Inc.   13,339 1,402,729
BorgWarner, Inc.   32,706 1,774,628
Lear Corp.   8,073 977,479
      $6,725,921
Automobiles — 0.9%  
Ford Motor Co.   583,744 $6,736,406
General Motors Co.   124,486 9,274,207
      $16,010,613
Banks — 13.2%  
Bank of America Corp.   753,821 $36,748,774
Bank OZK   17,688 811,702
BOK Financial Corp.   3,981 509,807
Citigroup, Inc.   195,769 22,202,162
Citizens Financial Group, Inc.   75,150 4,506,746
Columbia Banking System, Inc.   51,944 1,424,824
Commerce Bancshares, Inc.   24,648 1,212,682
Cullen/Frost Bankers, Inc.   10,467 1,434,816
East West Bancorp, Inc.   23,334 2,491,138
F.N.B. Corp.   54,917 918,212
Fifth Third Bancorp   145,733 6,770,755
First Citizens Bancshares, Inc., Class A   1,155 2,176,782
First Financial Bankshares, Inc.   17,632 519,262
First Horizon Corp.   79,595 1,811,582
Flagstar Bank NA   12,000 158,040
Glacier Bancorp, Inc.   20,431 912,653
Hancock Whitney Corp.   15,296 972,673
Home BancShares, Inc.   31,313 843,259
Huntington Bancshares, Inc.   347,202 5,433,711
JPMorgan Chase & Co.   214,299 63,038,194
KeyCorp   169,079 3,390,034
M&T Bank Corp.   26,273 5,431,155
Security Shares Value
Banks (continued)  
Old National Bancorp      57,162 $    1,263,280
Pinnacle Financial Partners, Inc.      20,878      1,798,431
PNC Financial Services Group, Inc.      52,567     10,938,667
Popular, Inc.      10,719      1,438,168
Regions Financial Corp.     149,329      3,900,473
SouthState Bank Corp.      16,431      1,520,196
Truist Financial Corp.     179,981      8,273,727
U.S. Bancorp     203,712     10,595,061
UMB Financial Corp.   13,206 1,489,505
United Bankshares, Inc.   25,113 1,040,180
Valley National Bancorp   87,636 1,076,170
Webster Financial Corp.   26,846 1,863,649
Wells Fargo & Co.   335,152 26,681,451
Western Alliance Bancorp   18,885 1,338,002
Wintrust Financial Corp.   12,070 1,677,006
Zions Bancorp NA   25,196 1,451,794
      $240,064,723
Beverages — 2.1%  
Coca-Cola Co.   166,107 $12,632,437
Keurig Dr. Pepper, Inc.   144,054 3,792,942
Molson Coors Beverage Co., Class B   26,936 1,159,864
PepsiCo, Inc.   131,754 20,460,079
Primo Brands Corp., Class A   17,912 337,283
      $38,382,605
Biotechnology — 3.0%  
Alkermes PLC(1)   9,282 $328,211
Amgen, Inc.   18,847 6,631,317
Biogen, Inc.(1)   26,699 4,894,728
Gilead Sciences, Inc.   108,188 15,078,162
Insmed, Inc.(1)   18,268 2,987,183
Ionis Pharmaceuticals, Inc.(1)   15,236 1,144,071
Madrigal Pharmaceuticals, Inc.(1)   3,202 1,676,151
Moderna, Inc.(1)   66,460 3,376,168
Natera, Inc.(1)   11,526 2,305,085
Regeneron Pharmaceuticals, Inc.   13,668 10,560,443
Revolution Medicines, Inc.(1)   31,704 3,083,214
Roivant Sciences Ltd.(1)   69,817 1,933,931
United Therapeutics Corp.(1)   1,360 806,453
      $54,805,117
Broadline Retail — 0.1%  
eBay, Inc.   25,404 $2,312,272
      $2,312,272
Building Products — 1.2%  
A.O. Smith Corp.   10,069 $663,950
Advanced Drainage Systems, Inc.   4,505 617,771
Allegion PLC   2,396 348,115
 
1
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Building Products (continued)  
Builders FirstSource, Inc.(1)      12,080 $      994,546
Carlisle Cos., Inc.       9,339      3,115,677
Carrier Global Corp.     121,304      6,830,628
Fortune Brands Innovations, Inc.      13,814        538,331
Johnson Controls International PLC      57,524      7,532,768
Masco Corp.      10,151        612,816
Simpson Manufacturing Co., Inc.       2,190        375,848
UFP Industries, Inc.       7,312        673,581
Zurn Elkay Water Solutions Corp., Class C   9,865 442,347
      $22,746,378
Capital Markets — 6.6%  
Affiliated Managers Group, Inc.   3,737 $1,034,028
Ameriprise Financial, Inc.   8,838 3,927,607
Bank of New York Mellon Corp.   65,532 7,774,061
Blackrock, Inc.   13,392 12,879,220
Blackstone, Inc.   57,883 6,655,966
Carlyle Group, Inc.   45,490 2,201,261
Cboe Global Markets, Inc.   731 205,462
Charles Schwab Corp.   93,126 8,751,981
CME Group, Inc.   31,770 9,383,269
Coinbase Global, Inc., Class A(1)   19,703 3,440,341
Evercore, Inc., Class A   3,355 1,001,501
Franklin Resources, Inc.   49,943 1,179,654
Goldman Sachs Group, Inc.   31,245 26,432,958
Houlihan Lokey, Inc.   2,250 323,145
Intercontinental Exchange, Inc.   41,617 6,545,522
Invesco Ltd.   76,694 1,862,897
Janus Henderson Group PLC   20,642 1,060,380
Jefferies Financial Group, Inc.   27,025 1,115,322
KKR & Co., Inc.   11,550 1,068,375
Nasdaq, Inc.   20,828 1,768,089
Northern Trust Corp.   32,009 4,467,496
PJT Partners, Inc., Class A   500 69,860
Raymond James Financial, Inc.   31,501 4,561,030
State Street Corp.   49,284 6,237,383
Stifel Financial Corp.   26,029 1,924,064
T. Rowe Price Group, Inc.   37,532 3,383,134
TPG, Inc.   7,552 305,931
Virtu Financial, Inc., Class A   14,673 645,319
      $120,205,256
Chemicals — 1.3%  
Air Products and Chemicals, Inc.   3,895 $1,131,459
Axalta Coating Systems Ltd.(1)   32,142 890,333
Balchem Corp.   19 3,220
Celanese Corp.   17,662 1,161,630
Eastman Chemical Co.   20,444 1,560,286
Ecolab, Inc.   692 184,086
Element Solutions, Inc.   46,200 1,577,268
FMC Corp.   23,431 403,482
Security Shares Value
Chemicals (continued)  
International Flavors & Fragrances, Inc.      35,675 $    2,588,221
Linde PLC      13,029      6,459,257
Mosaic Co.      57,699      1,471,325
PPG Industries, Inc.      39,992      4,274,345
RPM International, Inc.      14,066     1,398,160
      $   23,103,072
Commercial Services & Supplies — 0.1%  
Clean Harbors, Inc.(1)         867 $      248,595
Republic Services, Inc.   777 170,178
Waste Management, Inc.   3,773 866,998
      $1,285,771
Communications Equipment — 0.8%  
Cisco Systems, Inc.   163,297 $12,670,214
Lumentum Holdings, Inc.(1)   1,830 1,286,051
      $13,956,265
Construction & Engineering — 0.1%  
AECOM   13,195 $1,119,200
Valmont Industries, Inc.   2,010 803,136
      $1,922,336
Construction Materials — 0.5%  
CRH PLC   68,161 $7,165,084
Knife River Corp.(1)   2,000 163,300
Vulcan Materials Co.   4,990 1,358,777
      $8,687,161
Consumer Finance — 1.7%  
Ally Financial, Inc.   53,392 $2,094,568
American Express Co.   23,756 7,185,715
Capital One Financial Corp.   74,310 13,556,373
Credit Acceptance Corp.(1)   445 188,440
FirstCash Holdings, Inc.   1,891 355,508
OneMain Holdings, Inc.   20,217 1,081,407
SLM Corp.   28,070 600,979
SoFi Technologies, Inc.(1)   79,254 1,258,554
Synchrony Financial   62,018 4,218,464
      $30,540,008
Consumer Staples Distribution & Retail — 2.7%  
Albertsons Cos., Inc., Class A   62,150 $1,059,036
BJ's Wholesale Club Holdings, Inc.(1)   10,294 1,013,136
Casey's General Stores, Inc.   2,104 1,531,418
Dollar General Corp.   29,234 3,470,953
Kroger Co.   105,788 7,654,820
Maplebear, Inc.(1)   6,759 253,192
Performance Food Group Co.(1)   19,202 1,644,843
Sysco Corp.   78,477 5,597,764
 
2
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Consumer Staples Distribution & Retail (continued)  
Target Corp.      58,522 $    7,092,866
U.S. Foods Holding Corp.(1)      18,834      1,736,683
Walmart, Inc.     145,157    18,040,112
      $   49,094,823
Containers & Packaging — 1.2%  
Amcor PLC      91,876 $    3,652,071
AptarGroup, Inc.       5,050        636,401
Avery Dennison Corp.      10,604      1,831,099
Ball Corp.   38,842 2,295,950
Crown Holdings, Inc.   19,476 1,952,469
Graphic Packaging Holding Co.   56,990 566,480
International Paper Co.   101,756 3,632,689
Packaging Corp. of America   14,040 2,979,569
Sealed Air Corp.   27,853 1,171,219
Silgan Holdings, Inc.   14,626 567,489
Smurfit Westrock PLC   69,395 2,765,391
      $22,050,827
Distributors — 0.2%  
Genuine Parts Co.   17,531 $1,853,903
LKQ Corp.   29,817 875,725
Pool Corp.   1,829 370,062
      $3,099,690
Diversified Consumer Services — 0.1%  
ADT, Inc.   92,529 $607,915
Covista, Inc.(1)   1,483 170,916
H&R Block, Inc.   5,118 162,445
Service Corp. International   15,535 1,281,793
      $2,223,069
Diversified REITs — 0.2%  
Essential Properties Realty Trust, Inc.   33,957 $1,030,935
W.P. Carey, Inc.   39,673 2,696,177
      $3,727,112
Diversified Telecommunication Services — 3.2%  
AT&T, Inc.   782,850 $22,694,822
Comcast Corp., Class A   439,796 12,626,543
Verizon Communications, Inc.   467,490 23,467,998
      $58,789,363
Electric Utilities — 2.6%  
Alliant Energy Corp.   46,922 $3,367,123
Evergy, Inc.   41,528 3,401,974
Eversource Energy   68,268 4,729,607
Exelon Corp.   156,656 7,679,277
IDACORP, Inc.   9,429 1,348,064
NextEra Energy, Inc.   140,948 13,091,250
Security Shares Value
Electric Utilities (continued)  
NRG Energy, Inc.      24,092 $    3,520,805
Portland General Electric Co.      19,163      1,011,231
TXNM Energy, Inc.      20,289      1,186,095
Xcel Energy, Inc.      95,908     7,618,932
      $   46,954,358
Electrical Equipment — 0.8%  
Acuity, Inc.       1,315 $      368,489
AMETEK, Inc.       4,581        981,983
Emerson Electric Co.   54,087 7,086,479
Generac Holdings, Inc.(1)   7,239 1,413,994
Hubbell, Inc.   1,261 618,823
nVent Electric PLC   23,094 2,731,558
Regal Rexnord Corp.   6,759 1,265,691
Rockwell Automation, Inc.   1,581 567,389
      $15,034,406
Electronic Equipment, Instruments & Components — 0.9%  
Arrow Electronics, Inc.(1)   6,337 $908,789
CDW Corp.   12,480 1,510,329
Cognex Corp.   16,699 818,084
Coherent Corp.(1)   11,913 2,837,796
Flex Ltd.(1)   50,150 3,282,819
Itron, Inc.(1)   5,319 476,742
Jabil, Inc.   135 35,860
Littelfuse, Inc.   2,074 703,812
Ralliant Corp.   5,941 247,086
TD SYNNEX Corp.   9,722 1,640,199
Teledyne Technologies, Inc.(1)   3,691 2,233,092
Vontier Corp.   15,802 560,497
Zebra Technologies Corp., Class A(1)   3,101 648,357
      $15,903,462
Energy Equipment & Services — 0.5%  
Baker Hughes Co.   135,970 $8,300,968
      $8,300,968
Entertainment — 1.5%  
Roku, Inc.(1)   8,037 $760,461
Take-Two Interactive Software, Inc.(1)   17,184 3,393,840
Walt Disney Co.   143,988 13,877,563
Warner Bros. Discovery, Inc.(1)   338,297 9,289,636
Warner Music Group Corp., Class A   9,495 242,502
      $27,564,002
Financial Services — 0.5%  
Corebridge Financial, Inc.   27,071 $645,914
Equitable Holdings, Inc.   40,881 1,517,094
Essent Group Ltd.   14,861 868,477
Euronet Worldwide, Inc.(1)   1,307 86,746
 
3
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Financial Services (continued)  
Jack Henry & Associates, Inc.         108 $       17,068
Jackson Financial, Inc., Class A         426         45,037
MGIC Investment Corp.      38,801      1,018,526
PayPal Holdings, Inc.      86,128      3,895,569
PennyMac Financial Services, Inc.       4,520        395,048
Voya Financial, Inc.      17,086     1,167,316
      $    9,656,795
Food Products — 1.7%  
Bunge Global SA   23,076 $2,935,267
Campbell's Co.(2)   34,577 770,030
Conagra Brands, Inc.   83,540 1,313,249
Darling Ingredients, Inc.(1)   26,281 1,625,480
General Mills, Inc.   92,180 3,430,940
Hershey Co.   14,021 2,914,826
Hormel Foods Corp.   51,060 1,156,509
Ingredion, Inc.   10,469 1,179,437
J.M. Smucker Co.   9,927 957,360
Kraft Heinz Co.   148,007 3,328,677
Lamb Weston Holdings, Inc.   6,116 258,462
McCormick & Co., Inc.   33,911 1,710,471
Mondelez International, Inc., Class A   132,742 7,651,249
Pilgrim's Pride Corp.   7,195 271,683
Post Holdings, Inc.(1)   8,794 869,375
      $30,373,015
Gas Utilities — 0.1%  
Southwest Gas Holdings, Inc.   11,275 $979,797
UGI Corp.   40,009 1,457,128
      $2,436,925
Ground Transportation — 1.0%  
J.B. Hunt Transport Services, Inc.   11,325 $2,399,768
Knight-Swift Transportation Holdings, Inc.   25,200 1,451,016
Landstar System, Inc.   3,856 618,156
Ryder System, Inc.   6,472 1,324,883
Saia, Inc.(1)   1,194 419,428
Union Pacific Corp.   41,960 10,180,335
XPO, Inc.(1)   12,215 2,376,428
      $18,770,014
Health Care Equipment & Supplies — 2.2%  
Abbott Laboratories   119,543 $12,273,480
Align Technology, Inc.(1)   200 34,286
Baxter International, Inc.   73,595 1,236,396
Becton Dickinson & Co.   21,771 3,423,054
Cooper Cos., Inc.(1)   12,771 913,126
GE HealthCare Technologies, Inc.   74,604 5,310,313
Glaukos Corp.(1)   9,128 982,720
Hologic, Inc.(1)   10,479 792,108
Security Shares Value
Health Care Equipment & Supplies (continued)  
Medtronic PLC     142,998 $   12,390,777
STERIS PLC         130         28,747
Zimmer Biomet Holdings, Inc.      21,268     1,923,053
      $   39,308,060
Health Care Providers & Services — 4.3%  
Centene Corp.(1)      88,723 $    2,904,791
Cigna Group      35,577      9,490,165
CVS Health Corp.     158,181     11,360,559
DaVita, Inc.(1)   5,374 825,930
Elevance Health, Inc.   30,621 8,964,298
Encompass Health Corp.   9,216 891,464
Ensign Group, Inc.   453 91,280
Guardant Health, Inc.(1)   3,820 352,853
HCA Healthcare, Inc.   7,750 3,667,610
Henry Schein, Inc.(1)   18,250 1,345,025
Humana, Inc.   22,118 3,835,040
Labcorp Holdings, Inc.   10,189 2,718,527
Molina Healthcare, Inc.(1)   9,558 1,274,081
Option Care Health, Inc.(1)   5,008 134,815
Quest Diagnostics, Inc.   17,841 3,496,479
UnitedHealth Group, Inc.   98,069 26,536,491
      $77,889,408
Health Care REITs — 0.6%  
Alexandria Real Estate Equities, Inc.   28,090 $1,303,938
American Healthcare REIT, Inc.   26,192 1,235,214
CareTrust REIT, Inc.   16,883 618,762
Healthcare Realty Trust, Inc.   58,815 999,267
Healthpeak Properties, Inc.   127,611 2,096,649
Omega Healthcare Investors, Inc.   54,166 2,373,554
Ventas, Inc.   28,550 2,334,819
      $10,962,203
Hotel & Resort REITs — 0.2%  
Host Hotels & Resorts, Inc.   115,106 $2,205,431
Ryman Hospitality Properties, Inc.   7,608 701,990
      $2,907,421
Hotels, Restaurants & Leisure — 0.6%  
Aramark   36,276 $1,470,629
Brinker International, Inc.(1)   1,000 142,770
Darden Restaurants, Inc.   9,101 1,784,160
Life Time Group Holdings, Inc.(1)   7,000 188,580
Starbucks Corp.   69,736 6,247,648
Vail Resorts, Inc.(2)   5,416 694,981
Wyndham Hotels & Resorts, Inc.   7,922 643,504
      $11,172,272
 
4
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Household Durables — 0.9%  
D.R. Horton, Inc.      42,399 $    5,817,991
Lennar Corp., Class A      38,972      3,384,328
PulteGroup, Inc.      33,879      3,984,509
Somnigroup International, Inc.       2,460        181,843
Taylor Morrison Home Corp.(1)      17,211      1,002,369
Toll Brothers, Inc.      16,688      2,277,411
TopBuild Corp.(1)       1,563       549,082
      $   17,197,533
Household Products — 1.2%  
Church & Dwight Co., Inc.   5,190 $484,331
Clorox Co.   14,182 1,469,681
Colgate-Palmolive Co.   7,052 601,042
Kimberly-Clark Corp.   27,539 2,656,687
Procter & Gamble Co.   110,141 15,908,766
      $21,120,507
Independent Power and Renewable Electricity Producers — 0.1%  
AES Corp.   118,824 $1,674,230
Brookfield Renewable Corp.   8,789 350,066
Clearway Energy, Inc., Class C   11,323 444,881
      $2,469,177
Industrial REITs — 1.2%  
Americold Realty Trust, Inc.   55,915 $640,786
EastGroup Properties, Inc.   6,461 1,195,867
First Industrial Realty Trust, Inc.   17,681 1,022,846
Lineage, Inc.(2)   6,271 205,438
Prologis, Inc.   110,386 14,590,821
Rexford Industrial Realty, Inc.   39,252 1,284,718
STAG Industrial, Inc.   35,669 1,286,224
Terreno Realty Corp.   17,709 1,087,687
      $21,314,387
Insurance — 4.7%  
Aflac, Inc.   70,187 $7,700,216
American Financial Group, Inc.   12,097 1,544,908
American International Group, Inc.   87,823 6,608,681
Arch Capital Group Ltd.(1)   53,487 5,134,217
Assurant, Inc.   8,699 1,894,729
Axis Capital Holdings Ltd.   12,543 1,271,986
Cincinnati Financial Corp.   26,817 4,219,655
Everest Group Ltd.   6,950 2,271,608
First American Financial Corp.   17,210 1,037,591
Hanover Insurance Group, Inc.   5,567 965,040
Hartford Insurance Group, Inc.   47,422 6,412,877
Markel Group, Inc.(1)   2,198 4,207,126
Marsh & McLennan Cos., Inc.   15,898 2,757,508
MetLife, Inc.   94,447 6,679,292
Old Republic International Corp.   37,304 1,488,430
Security Shares Value
Insurance (continued)  
Primerica, Inc.       3,036 $      760,457
Principal Financial Group, Inc.      38,340      3,454,817
Progressive Corp.      15,346      3,042,191
Prudential Financial, Inc.      61,768      6,034,116
Reinsurance Group of America, Inc.      11,054      2,256,785
RenaissanceRe Holdings Ltd.       7,379      2,193,260
RLI Corp.       2,884        164,503
Travelers Cos., Inc.      30,308      8,840,237
Unum Group   28,345 2,070,035
W.R. Berkley Corp.   34,565 2,290,968
Willis Towers Watson PLC   1,909 554,946
      $85,856,179
Interactive Media & Services — 0.0%  
Snap, Inc., Class A(1)   107,693 $495,388
      $495,388
IT Services — 1.1%  
Accenture PLC, Class A   19,467 $3,860,111
Akamai Technologies, Inc.(1)   3,557 408,522
Amdocs Ltd.   10,366 676,485
Cognizant Technology Solutions Corp., Class A   53,904 3,307,010
EPAM Systems, Inc.(1)   1,773 240,064
International Business Machines Corp.   42,653 10,338,661
Kyndryl Holdings, Inc.(1)   24,066 315,746
Twilio, Inc., Class A(1)   2,919 367,269
      $19,513,868
Leisure Products — 0.1%  
Hasbro, Inc.   18,878 $1,766,981
Mattel, Inc.(1)   35,246 512,124
      $2,279,105
Life Sciences Tools & Services — 1.7%  
Agilent Technologies, Inc.   2,225 $253,606
Avantor, Inc.(1)   119,591 937,593
Bio-Rad Laboratories, Inc., Class A(1)   2,820 786,075
Charles River Laboratories International, Inc.(1)   3,707 639,458
Danaher Corp.   46,385 8,794,596
Illumina, Inc.(1)   25,577 3,152,621
IQVIA Holdings, Inc.(1)   14,208 2,423,032
Repligen Corp.(1)   4,129 486,479
Revvity, Inc.   15,259 1,336,841
Thermo Fisher Scientific, Inc.   23,557 11,578,972
      $30,389,273
Machinery — 4.0%  
AGCO Corp.   3,953 $458,034
Allison Transmission Holdings, Inc.   6,518 762,997
Caterpillar, Inc.   20,537 14,549,643
 
5
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Machinery (continued)  
CNH Industrial NV     167,802 $    1,845,822
Cummins, Inc.      13,848      7,450,501
Deere & Co.      17,334      9,764,242
Donaldson Co., Inc.       4,908        416,542
Dover Corp.      26,576      5,539,767
ESAB Corp.       2,285        220,868
Flowserve Corp.      12,597        926,006
Fortive Corp.      13,980        772,814
Gates Industrial Corp. PLC(1)   35,947 812,762
IDEX Corp.   4,643 880,081
Illinois Tool Works, Inc.   4,855 1,263,708
ITT, Inc.   1,307 249,023
JBT Marel Corp.   5,267 673,491
Lincoln Electric Holdings, Inc.   1,066 265,519
Middleby Corp.(1)   7,237 959,482
Mueller Industries, Inc.   8,985 995,538
Nordson Corp.   3,451 918,173
Oshkosh Corp.   12,151 1,788,749
Otis Worldwide Corp.   9,598 739,814
PACCAR, Inc.   65,960 7,618,380
Parker-Hannifin Corp.   3,506 3,138,711
Pentair PLC   10,297 896,972
Snap-on, Inc.   7,679 2,789,166
Stanley Black & Decker, Inc.   29,477 2,094,636
Timken Co.   11,530 1,159,572
Toro Co.   10,220 954,957
Watts Water Technologies, Inc., Class A   42 12,192
Westinghouse Air Brake Technologies Corp.   985 246,161
Xylem, Inc.   18,132 2,166,774
      $73,331,097
Media — 0.6%  
Charter Communications, Inc., Class A(1)   13,086 $2,825,006
Liberty Broadband Corp., Class C(1)   20,356 1,023,907
New York Times Co., Class A   842 70,501
Nexstar Media Group, Inc.   4,929 891,311
Omnicom Group, Inc.   50,759 3,822,660
Paramount Skydance Corp., Class B   57,567 519,254
Sirius XM Holdings, Inc.   26,370 608,620
Versant Media Group, Inc.(1)   18,610 688,942
      $10,450,201
Metals & Mining — 0.9%  
Nucor Corp.   38,391 $6,491,918
Reliance, Inc.   13,900 4,224,488
Steel Dynamics, Inc.   27,586 4,965,480
      $15,681,886
Mortgage REITs — 0.2%  
AGNC Investment Corp.(2)   151,605 $1,520,598
Annaly Capital Management, Inc.   32,324 683,653
Security Shares Value
Mortgage REITs (continued)  
Rithm Capital Corp.      89,890 $      852,157
Starwood Property Trust, Inc.      54,964       946,480
      $    4,002,888
Multi-Utilities — 3.1%  
Ameren Corp.      50,038 $    5,500,177
CMS Energy Corp.      55,535      4,308,405
Consolidated Edison, Inc.      61,914      7,007,427
Dominion Energy, Inc.     132,042      8,162,836
DTE Energy Co.   37,642 5,504,013
NiSource, Inc.   87,024 4,060,540
Public Service Enterprise Group, Inc.   79,642 6,447,020
Sempra   94,074 9,141,171
WEC Energy Group, Inc.   55,286 6,400,460
      $56,532,049
Office REITs — 0.2%  
BXP, Inc.   27,509 $1,427,717
COPT Defense Properties   21,476 657,166
Cousins Properties, Inc.   31,419 709,127
Kilroy Realty Corp.(2)   21,181 597,516
Vornado Realty Trust   31,580 820,764
      $4,212,290
Oil, Gas & Consumable Fuels — 0.4%  
CNX Resources Corp.(1)   1,500 $57,825
Occidental Petroleum Corp.   123,042 7,997,730
      $8,055,555
Paper & Forest Products — 0.0%  
Louisiana-Pacific Corp.   7,125 $518,344
      $518,344
Passenger Airlines — 0.5%  
Alaska Air Group, Inc.(1)   18,495 $680,246
American Airlines Group, Inc.(1)   104,740 1,124,908
Delta Air Lines, Inc.   106,170 7,058,181
Joby Aviation, Inc.(1)   37,212 307,371
      $9,170,706
Personal Care Products — 0.1%  
Estee Lauder Cos., Inc., Class A   14,844 $1,065,354
Kenvue, Inc.   42,498 732,665
      $1,798,019
Pharmaceuticals — 4.0%  
Bristol-Myers Squibb Co.   243,854 $14,789,745
Elanco Animal Health, Inc.(1)   91,205 2,182,536
Jazz Pharmaceuticals PLC(1)   10,776 2,037,203
Merck & Co., Inc.   263,275 31,669,350
 
6
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Pharmaceuticals (continued)  
Pfizer, Inc.     663,480 $   18,630,518
Royalty Pharma PLC, Class A      73,097     3,506,463
      $   72,815,815
Professional Services — 0.4%  
Automatic Data Processing, Inc.      11,038 $    2,242,701
Booz Allen Hamilton Holding Corp.      11,082        864,729
Broadridge Financial Solutions, Inc.         472         76,691
FTI Consulting, Inc.(1)       2,804        495,663
Genpact Ltd.   15,581 580,392
Parsons Corp.(1)   2,000 108,340
Paychex, Inc.   5,980 550,878
Robert Half, Inc.   16,161 410,489
Science Applications International Corp.   5,733 544,176
SS&C Technologies Holdings, Inc.   11,381 769,014
      $6,643,073
Real Estate Management & Development — 0.2%  
CBRE Group, Inc., Class A(1)   7,162 $970,165
Jones Lang LaSalle, Inc.(1)   8,313 2,529,812
Zillow Group, Inc., Class C(1)   25,334 1,048,321
      $4,548,298
Residential REITs — 0.9%  
AvalonBay Communities, Inc.   24,096 $3,936,081
Camden Property Trust   12,206 1,192,038
Equity LifeStyle Properties, Inc.   17,403 1,086,295
Equity Residential   65,654 3,883,434
Essex Property Trust, Inc.   8,960 2,168,320
Invitation Homes, Inc.   29,754 739,387
Mid-America Apartment Communities, Inc.   17,966 2,194,008
UDR, Inc.   31,338 1,058,598
      $16,258,161
Retail REITs — 1.4%  
Brixmor Property Group, Inc.   56,337 $1,622,506
Federal Realty Investment Trust   15,864 1,684,915
Kimco Realty Corp.   113,050 2,540,234
NNN REIT, Inc.   35,004 1,471,218
Phillips Edison & Co., Inc.   19,746 738,895
Realty Income Corp.   133,731 8,181,663
Regency Centers Corp.   31,476 2,381,474
Simon Property Group, Inc.   40,166 7,492,164
      $26,113,069
Semiconductors & Semiconductor Equipment — 4.5%  
Allegro MicroSystems, Inc.(1)   3,750 $118,238
Analog Devices, Inc.   9,089 2,891,575
Cirrus Logic, Inc.(1)   3,430 496,047
Entegris, Inc.   10,314 1,209,213
Security Shares Value
Semiconductors & Semiconductor Equipment (continued)  
Intel Corp.(1)     473,768 $   20,907,382
Marvell Technology, Inc.      45,243      4,481,319
Microchip Technology, Inc.      47,543      3,071,753
Micron Technology, Inc.      69,783     23,575,489
MKS, Inc.      10,482      2,408,868
ON Semiconductor Corp.(1)       4,653        288,114
QUALCOMM, Inc.      65,944      8,492,268
Skyworks Solutions, Inc.      20,957      1,122,247
Teradyne, Inc.   6,219 1,843,685
Texas Instruments, Inc.   53,810 10,446,673
Universal Display Corp.   900 82,494
      $81,435,365
Software — 0.2%  
ACI Worldwide, Inc.(1)   8,570 $351,456
Dolby Laboratories, Inc., Class A   3,633 218,198
Q2 Holdings, Inc.(1)   2,091 98,904
Roper Technologies, Inc.   2,073 733,552
Trimble, Inc.(1)   29,411 1,918,479
Varonis Systems, Inc.(1)   5,374 115,380
      $3,435,969
Specialized REITs — 1.6%  
American Tower Corp.   25,135 $4,337,798
Crown Castle, Inc.   23,441 1,905,988
CubeSmart   38,273 1,402,705
Digital Realty Trust, Inc.   37,560 6,768,688
Equinix, Inc.   1,275 1,249,806
Extra Space Storage, Inc.   33,548 4,399,149
Lamar Advertising Co., Class A   10,643 1,348,042
National Storage Affiliates Trust   7,771 293,278
Public Storage   14,067 3,810,469
SBA Communications Corp.   3,339 574,675
Weyerhaeuser Co.   93,418 2,282,202
      $28,372,800
Specialty Retail — 1.9%  
AutoNation, Inc.(1)   3,905 $762,490
Bath & Body Works, Inc.   29,490 550,578
Best Buy Co., Inc.   25,130 1,613,346
Boot Barn Holdings, Inc.(1)   1,000 146,360
Burlington Stores, Inc.(1)   1,906 620,174
CarMax, Inc.(1)   16,790 698,128
Carvana Co.(1)   816 256,534
Dick's Sporting Goods, Inc.   8,099 1,605,951
Five Below, Inc.(1)   3,786 865,025
Floor & Decor Holdings, Inc., Class A(1)   7,197 365,608
GameStop Corp., Class A(1)   22,991 529,713
Gap, Inc.   34,165 826,793
Group 1 Automotive, Inc.   1,694 560,087
Home Depot, Inc.   32,033 10,535,333
 
7
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Specialty Retail (continued)  
Lithia Motors, Inc., Class A       2,946 $      735,675
Lowe's Cos., Inc.      35,217      8,321,073
Penske Automotive Group, Inc.       2,304        344,494
Ross Stores, Inc.       8,689      1,882,298
Tractor Supply Co.      25,161      1,139,793
Urban Outfitters, Inc.(1)       6,362        403,033
Wayfair, Inc., Class A(1)      12,979        976,151
Williams-Sonoma, Inc.         686       125,079
      $33,863,716
Technology Hardware, Storage & Peripherals — 2.6%  
Dell Technologies, Inc., Class C   22,110 $3,628,914
Hewlett Packard Enterprise Co.   190,601 4,538,210
HP, Inc.   134,516 2,584,053
NetApp, Inc.   17,862 1,828,890
Sandisk Corp.(1)   18,044 11,464,075
Seagate Technology Holdings PLC   28,220 11,055,467
Western Digital Corp.   43,041 11,642,160
      $46,741,769
Textiles, Apparel & Luxury Goods — 0.4%  
Crocs, Inc.(1)   5,548 $460,595
NIKE, Inc., Class B   106,409 5,620,523
Ralph Lauren Corp.   1,037 356,718
Tapestry, Inc.   7,571 1,068,344
VF Corp.   43,075 731,844
      $8,238,024
Trading Companies & Distributors — 0.6%  
Air Lease Corp.   19,687 $1,278,474
Applied Industrial Technologies, Inc.   1,422 377,285
Core & Main, Inc., Class A(1)   9,233 456,110
Ferguson Enterprises, Inc.   9,026 2,105,405
GATX Corp.   5,420 925,411
QXO, Inc.(1)   62,150 1,206,953
SiteOne Landscape Supply, Inc.(1)   2,131 283,657
United Rentals, Inc.   1,132 824,730
Watsco, Inc.   3,665 1,333,290
WESCO International, Inc.   6,385 1,747,064
      $10,538,379
Water Utilities — 0.3%  
American Water Works Co., Inc.   29,649 $4,034,933
Essential Utilities, Inc.   52,138 2,099,597
      $6,134,530
Security Shares Value
Wireless Telecommunication Services — 0.2%  
T-Mobile U.S., Inc.      21,185 $    4,449,485
      $    4,449,485
Total Common Stocks
(identified cost $1,354,787,144)
    $1,815,824,816
    
Miscellaneous — 0.0%
    
Security Shares Value
Software — 0.0%  
Pivotal Software, Inc., Escrow Certificates(1)(2)(3)       4,878 $            0
Total Miscellaneous
(identified cost $0)
    $            0
    
Short-Term Investments — 0.2%      
Affiliated Fund — 0.2%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.57%(4)   2,459,868 $    2,459,868
Total Affiliated Fund
(identified cost $2,459,868)
    $    2,459,868
Securities Lending Collateral — 0.0%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 3.68%(5)     602,976 $      602,976
Total Securities Lending Collateral
(identified cost $602,976)
    $      602,976
Total Short-Term Investments
(identified cost $3,062,844)
    $    3,062,844
Total Investments — 100.0%
(identified cost $1,357,849,988)
    $1,818,887,660
Other Assets, Less Liabilities — 0.0%     $      735,854
Net Assets — 100.0%     $1,819,623,514
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
Amount is less than 0.05% or (0.05)%, as applicable.
(1) Non-income producing security.
(2) All or a portion of this security was on loan at March 31, 2026. The aggregate market value of securities on loan at March 31, 2026 was $3,548,415.
 
8
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

(3) Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy.
(4) May be deemed to be an affiliated investment company (see Note 7). The rate shown is the annualized seven-day yield as of March 31, 2026.
(5) Represents investment of cash collateral received in connection with securities lending.
    
Abbreviations: 
REITs – Real Estate Investment Trusts
9
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited)

  March 31, 2026
Assets  
Investments in securities of unaffiliated issuers, at value (identified cost $1,355,390,120) - including
$3,548,415 of securities on loan
$1,816,427,792
Investments in securities of affiliated issuers, at value (identified cost $2,459,868) 2,459,868
Cash 37
Receivable for capital shares sold 1,044,523
Dividends receivable 2,369,402
Dividends receivable - affiliated 6,209
Securities lending income receivable 1,110
Receivable from affiliates 290,548
Directors' deferred compensation plan 162,269
Total assets $1,822,761,758
Liabilities  
Payable for capital shares redeemed $1,441,481
Deposits for securities loaned 602,976
Payable to affiliates:  
Investment advisory fee 187,844
Administrative fee 188,097
Distribution and service fees 33,609
Sub-transfer agency fee 11,962
Directors' deferred compensation plan 162,269
Payable for accounting fees 248,582
Payable for transfer agency fees and expenses 186,239
Accrued expenses 75,185
Total liabilities $3,138,244
Net Assets $1,819,623,514
Sources of Net Assets  
Paid-in capital $1,338,450,373
Distributable earnings 481,173,141
Net Assets $1,819,623,514
Class A Shares  
Net Assets $156,791,629
Shares Outstanding 4,588,359
Net Asset Value and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$34.17
Maximum Offering Price Per Share 
(100 ÷ 95.25 of net asset value per share)
$35.87
Class I Shares  
Net Assets $1,515,893,351
Shares Outstanding 43,975,342
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$34.47
10
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited) — continued

  March 31, 2026
Class R6 Shares  
Net Assets $146,938,534
Shares Outstanding 4,273,109
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$34.39
    
On sales of $50,000 or more, the offering price of Class A shares is reduced.
11
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Statement of Operations (Unaudited)

  Six Months Ended
  March 31, 2026
Investment Income  
Dividend income (net of foreign taxes withheld of $2,616) $22,928,817
Dividend income - affiliated issuers 57,459
Securities lending income, net 12,905
Total investment income $22,999,181
Expenses  
Investment advisory fee $1,129,909
Administrative fee 1,129,909
Distribution and service fees:  
Class A 191,472
Directors' fees and expenses 53,163
Custodian fees 15,295
Transfer agency fees and expenses 770,998
Accounting fees 189,814
Professional fees 47,836
Registration fees 37,966
Reports to shareholders 35,925
Miscellaneous 64,579
Total expenses $3,666,866
Waiver and/or reimbursement of expenses by affiliates $(1,234,955)
Net expenses $2,431,911
Net investment income $20,567,270
Realized and Unrealized Gain (Loss)  
Net realized gain (loss):  
Investment securities $32,979,944
Net realized gain $32,979,944
Change in unrealized appreciation (depreciation):  
Investment securities $28,476,852
Net change in unrealized appreciation (depreciation) $28,476,852
Net realized and unrealized gain $61,456,796
Net increase in net assets from operations $82,024,066
12
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Statements of Changes in Net Assets

  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended
September 30,
2025
Increase (Decrease) in Net Assets    
From operations:    
Net investment income $20,567,270 $40,440,462
Net realized gain 32,979,944 142,108,267
Net change in unrealized appreciation (depreciation) 28,476,852 10,015,992
Net increase in net assets from operations $82,024,066 $192,564,721
Distributions to shareholders:    
Class A $(12,676,007) $(6,389,501)
Class I (134,910,005) (91,201,712)
Class R6 (13,013,750) (8,161,277)
Total distributions to shareholders $(160,599,762) $(105,752,490)
Capital share transactions:    
Class A $17,364,585 $25,752,560
Class I (3,627,264) (104,886,647)
Class R6 724,747 (4,654,763)
Net increase (decrease) in net assets from capital share transactions $14,462,068 $(83,788,850)
Net increase (decrease) in net assets $(64,113,628) $3,023,381
Net Assets    
At beginning of period $1,883,737,142 $1,880,713,761
At end of period $1,819,623,514 $1,883,737,142
13
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Financial Highlights

  Class A
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $35.74 $34.16 $26.88 $24.86 $30.72 $23.00
Income (Loss) From Operations            
Net investment income(1) $0.35 $0.67 $0.61 $0.58 $0.51 $0.46
Net realized and unrealized gain (loss) 1.15 2.86 7.21 1.94 (5.11) 7.69
Total income (loss) from operations $1.50 $3.53 $7.82 $2.52 $(4.60) $8.15
Less Distributions            
From net investment income $(0.66) $(0.63) $(0.54) $(0.50) $(0.38) $(0.33)
From net realized gain (2.41) (1.32)  —  — (0.88) (0.10)
Total distributions $(3.07) $(1.95) $(0.54) $(0.50) $(1.26) $(0.43)
Net asset value — End of period $34.17 $35.74 $34.16 $26.88 $24.86 $30.72
Total Return(2) 4.16%(3) 10.79% 29.37% 10.13% (15.75)% 35.76%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $156,792 $146,208 $112,280 $91,071 $90,131 $87,085
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.63%(5) 0.62% 0.62% 0.63% 0.61% 0.61%
Net expenses 0.49%(5)(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%
Net investment income 1.96%(5) 2.01% 2.01% 2.10% 1.73% 1.59%
Portfolio Turnover 6%(3) 27% 33% 31% 34% 34%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
14
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class I
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $36.05 $34.43 $27.10 $25.04 $30.92 $23.16
Income (Loss) From Operations            
Net investment income(1) $0.39 $0.76 $0.69 $0.66 $0.59 $0.54
Net realized and unrealized gain (loss) 1.17 2.88 7.26 1.96 (5.14) 7.72
Total income (loss) from operations $1.56 $3.64 $7.95 $2.62 $(4.55) $8.26
Less Distributions            
From net investment income $(0.73) $(0.70) $(0.62) $(0.56) $(0.45) $(0.40)
From net realized gain (2.41) (1.32)  —  — (0.88) (0.10)
Total distributions $(3.14) $(2.02) $(0.62) $(0.56) $(1.33) $(0.50)
Net asset value — End of period $34.47 $36.05 $34.43 $27.10 $25.04 $30.92
Total Return(2) 4.30%(3) 11.07% 29.70% 10.41% (15.52)% 36.03%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $1,515,893 $1,585,121 $1,618,939 $1,412,587 $1,492,096 $1,524,045
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.38%(5) 0.37% 0.37% 0.38% 0.36% 0.36%
Net expenses 0.24%(5)(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%
Net investment income 2.20%(5) 2.26% 2.26% 2.36% 1.98% 1.83%
Portfolio Turnover 6%(3) 27% 33% 31% 34% 34%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
15
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class R6
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30, Period Ended
September 30,
2022(1)
  2025 2024 2023
Net asset value — Beginning of period $35.99 $34.39 $27.07 $25.05 $31.03
Income (Loss) From Operations          
Net investment income(2) $0.40 $0.78 $0.70 $0.66 $0.41
Net realized and unrealized gain (loss) 1.17 2.87 7.26 1.97 (6.39)
Total income (loss) from operations $1.57 $3.65 $7.96 $2.63 $(5.98)
Less Distributions          
From net investment income $(0.76) $(0.73) $(0.64) $(0.61) $ —
From net realized gain (2.41) (1.32)  —  —  —
Total distributions $(3.17) $(2.05) $(0.64) $(0.61) $ —
Net asset value — End of period $34.39 $35.99 $34.39 $27.07 $25.05
Total Return(3) 4.33%(4) 11.11% 29.79% 10.44% (19.27)%(4)
Ratios/Supplemental Data          
Net assets, end of period (000’s omitted) $146,939 $152,408 $149,495 $122,021 $28,633
Ratios (as a percentage of average daily net assets):(5)          
Total expenses 0.29%(6) 0.29% 0.32% 0.33% 0.31%(6)
Net expenses 0.19%(6)(7) 0.19%(7) 0.19%(7) 0.19%(7) 0.19%(6)(7)
Net investment income 2.25%(6) 2.31% 2.31% 2.37% 2.21%(6)
Portfolio Turnover 6%(4) 27% 33% 31% 34%(8)
    
(1) For the period from the commencement of operations, February 1, 2022, to September 30, 2022.
(2) Computed using average shares outstanding.
(3) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(4) Not annualized.
(5) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(6) Annualized.
(7) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024 and 2023 and the period ended September 30, 2022).
(8) For the year ended September 30, 2022.
16
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies
Calvert US Large-Cap Value Responsible Index Fund (the Fund) is a diversified series of Calvert Responsible Index Series, Inc. (the Corporation). The Corporation is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The investment objective of the Fund is to seek to track the performance of the Calvert US Large-Cap Value Responsible Index, which measures the investment return of large-capitalization stocks.
The Fund offers three classes of shares. Class A shares are generally sold subject to a sales charge imposed at time of purchase. A contingent deferred sales charge of 0.25% may apply to certain redemptions of Class A shares for accounts for which no sales charge was paid, if redeemed within 12 months of purchase. Class I and Class R6 shares are sold at net asset value, are not subject to a sales charge and are sold only to certain eligible investors. Each class represents a pro rata interest in the Fund, but votes separately on class-specific matters and is subject to different expenses.
The Fund applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946). Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements.
A  Investment Valuation— Net asset value per share is determined every business day as of the close of the regular session of the New York Stock Exchange (generally 4:00 p.m. Eastern time). The Fund uses independent pricing services approved by the Board of Directors (the Board) to value its investments wherever possible. Investments for which market quotations are not available or deemed not reliable are fair valued in good faith by the
Board’s valuation designee.
U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Valuation techniques used to value the Fund’s investments by major category are as follows:
Equity Securities. Equity securities (including warrants and rights) listed on a U.S. securities exchange generally are valued at the last sale or closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price and are categorized as Level 1 in the hierarchy. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices and are categorized as Level 2 in the hierarchy.
Other Securities.  Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day and are categorized as Level 1 in the hierarchy.
Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Board has designated the Fund’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
The values assigned to fair value investments are based on available information and do not necessarily represent amounts that might ultimately be realized. Further, due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed, and the differences could be material.
17

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The following table summarizes the market value of the Fund's holdings as of March 31, 2026, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3(1) Total
Common Stocks $1,815,824,816(2) $ — $ — $1,815,824,816
Miscellaneous  —  — 0 0
Short-Term Investments:        
Affiliated Fund 2,459,868  —  — 2,459,868
Securities Lending Collateral 602,976  —  — 602,976
Total Investments $1,818,887,660 $ — $0 $1,818,887,660
    
(1) None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.
(2) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended March 31, 2026 is not presented.
B  Investment Transactions and Income— Investment transactions for financial statement purposes are accounted for on trade date. Realized gains and losses are recorded on an identified cost basis and may include proceeds from litigation. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Non-cash dividends are recorded at the fair value of the securities received. Withholding taxes on foreign dividends, if any, have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received that represent a return of capital are recorded as a reduction of cost of investments. Distributions received that represent a capital gain are recorded as a realized gain.
C  Share Class Accounting— Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based upon the relative net assets of each class to the total net assets of the Fund. Expenses arising in connection with a specific class are charged directly to that class. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer agency fees and expenses on the Statement of Operations, are not allocated to Class R6 shares.
D  Foreign Currency Translation— Other assets and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions.
E  Distributions to Shareholders— Distributions to shareholders are recorded by the Fund on ex-dividend date. Distributions from net investment income and distributions from net realized capital gains, if any, are paid at least annually. Distributions are declared separately for each class of shares. Distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP; accordingly, periodic reclassifications are made within the Fund's capital accounts to reflect income and gains available for distribution under income tax regulations.
F  Estimates— The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
G  Indemnifications— The Corporation’s By-Laws provide for indemnification for Directors or officers of the Corporation and certain other parties, to the fullest extent permitted by Maryland law and the 1940 Act, provided certain conditions are met. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.
H  Federal and Other Taxes— No provision for federal income or excise tax is required since the Fund intends to continue to qualify as a regulated investment company under the Internal Revenue Code and to distribute substantially all of its taxable earnings. Management has analyzed the Fund's tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Fund's financial statements. A Fund's federal tax return is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.
I  Segment Reporting— The Fund operates as a single reportable segment, an investment company whose investment objective(s) is included in Note 1. The Fund’s President acts as the Fund's Chief Operating Decision Maker (CODM), who is responsible for assessing the performance of the Fund's single segment and deciding how to allocate the segment’s resources. To perform this function, the CODM reviews the information in the Fund’s financial statements.
18

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

J  Interim Financial Statements— The interim financial statements relating to March 31, 2026 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund's management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.
2  Related Party Transactions
The investment advisory fee is earned by Calvert Research and Management (CRM), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Fund. The investment advisory fee is computed at the annual rate of 0.12% of the Fund’s average daily net assets and is payable monthly. For the six months ended March 31, 2026, the investment advisory fee amounted to $1,129,909.
The Fund may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the “Liquidity Fund”), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment advisory fee paid by the Fund is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the six months ended March 31, 2026, the investment advisory fee paid was reduced by $2,454 relating to the Fund’s investment in the Liquidity Fund.
CRM has agreed to reimburse the Fund’s operating expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 0.49%, 0.24% and 0.19% for Class A, Class I and Class R6, respectively, of such class’s average daily net assets. The expense reimbursement agreement with CRM may be changed or terminated after February 1, 2027. For the six months ended March 31, 2026, CRM waived and/or reimbursed expenses of $1,232,501.
The administrative fee is earned by CRM as compensation for administrative services rendered to the Fund. The fee is computed at an annual rate of 0.12% of the Fund’s average daily net assets attributable to Class A, Class I and Class R6 and is payable monthly. For the six months ended March 31, 2026, CRM was paid administrative fees of $1,129,909.
The Fund has in effect a distribution plan for Class A shares (Class A Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class A Plan, the Fund pays Eaton Vance Distributors, Inc. (EVD), an affiliate of CRM and the Fund’s principal underwriter, a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Class A shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued for the six months ended March 31, 2026 amounted to $191,472 for Class A shares.
The Fund was informed that EVD received $5,747 as its portion of the sales charge on sales of Class A shares for the six months ended March 31, 2026. The Fund was also informed that EVD received less than $100 of contingent deferred sales charges paid by Class A shareholders for the same period.
Eaton Vance Management (EVM), an affiliate of CRM, provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended March 31, 2026, sub-transfer agency fees and expenses incurred to EVM amounted to $20,696 and are included in transfer agency fees and expenses on the Statement of Operations.
Each Director of the Fund who is not an employee of CRM or its affiliates receives an annual fee of $250,000, an annual Committee fee ranging from $8,500 to $16,500 depending on the Committee, and may receive a fee of $10,000 for special meetings. The Board chair receives an additional $75,000 ($55,000 prior to January 1, 2026) annual fee, Committee chairs receive an additional $20,000 annual fee and the special equities liaison receives an additional $2,500 annual fee. Eligible Directors may participate in a Deferred Compensation Plan (the Plan). Amounts deferred under the Plan are treated as though equal dollar amounts had been invested in shares of the Fund or other Calvert funds selected by the Directors. The Fund purchases shares of the funds selected equal to the dollar amounts deferred under the Plan, resulting in an asset equal to the deferred compensation liability. Obligations of the Plan are paid solely from the Fund's assets. Directors’ fees are allocated to each of the Calvert funds served. Salaries and fees of officers and Directors of the Fund who are employees of CRM or its affiliates are paid by CRM.
3  Investment Activity
During the six months ended March 31, 2026, the cost of purchases and proceeds from sales of investments, other than short-term securities, were $108,914,835 and $236,138,865, respectively.
19

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

4  Distributions to Shareholders and Income Tax Information
The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2026, as determined on a federal income tax basis, were as follows:
Aggregate cost $1,384,216,200
Gross unrealized appreciation $551,697,970
Gross unrealized depreciation (117,026,510)
Net unrealized appreciation $434,671,460
5  Securities Lending
To generate additional income, the Fund may lend its securities pursuant to a securities lending agency agreement with State Street Bank and Trust Company (SSBT), the securities lending agent. Security loans are subject to termination by the Fund at any time and, therefore, are not considered illiquid investments. The Fund requires that the loan be continuously collateralized by either cash or securities in an amount at least equal to the market value of the securities on loan. The market value of securities loaned is determined daily and any additional required collateral is delivered to the Fund on the next business day. Cash collateral is generally invested in a money market fund registered under the 1940 Act that is managed by an affiliate of SSBT. Any gain or loss in the market price of the loaned securities that might occur and any interest earned or dividends declared during the term of the loan would accrue to the account of the Fund. Income earned on the investment of collateral, net of broker rebates and other expenses incurred by the securities lending agent, is split between the Fund and the securities lending agent based on agreed upon contractual terms. Non-cash collateral, if any, is held by the lending agent on behalf of the Fund and cannot be sold or re-pledged by the Fund; accordingly, such collateral is not reflected in the Statement of Assets and Liabilities.
The risks associated with lending portfolio securities include, but are not limited to, possible delays in receiving additional collateral or in the recovery of the loaned securities, possible loss of rights to the collateral should the borrower fail financially, as well as risk of loss in the value of the collateral or the value of the investments made with the collateral. The securities lending agent shall indemnify the Fund in the case of default of any securities borrower.
At March 31, 2026, the total value of securities on loan was $3,548,415 and the total value of collateral received was $3,562,521, comprised of cash of $602,976 and U.S. government and/or agencies securities of $2,959,545.
The following table provides a breakdown of securities lending transactions accounted for as secured borrowings, the obligations by class of collateral pledged, and the remaining contractual maturity of those transactions as of March 31, 2026.
  Remaining Contractual Maturity of the Transactions
  Overnight and
Continuous
<30 days 30 to 90 days >90 days Total
Common Stocks $602,976 $ — $ — $ — $602,976
Miscellaneous 0  —  —  — 0
Total $602,976 $ — $ — $ — $602,976
The carrying amount of the liability for deposits for securities loaned at March 31, 2026 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 1A) at March 31, 2026.
6  Line of Credit
The Fund participates with other portfolios and funds managed by EVM and its affiliates, including CRM, in a $650 million unsecured revolving line of credit agreement with a group of banks, which is in effect through October 20, 2026. Borrowings are made by the Fund solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Fund based on its borrowings generally at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. In connection with the renewal of the agreement in October 2025, an arrangement fee of $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time.
20

 

Table of Contents
Calvert
US Large-Cap Value Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The Fund had no borrowings outstanding pursuant to its line of credit at March 31, 2026. The Fund did not have any significant borrowings or allocated fees during the six months ended March 31, 2026.
7  Affiliated Investments
At March 31, 2026, the value of the Fund’s investment in funds that may be deemed to be affiliated was $2,459,868, which represents 0.2% of the Fund’s net assets. Transactions in such investments by the Fund for the six months ended March 31, 2026 were as follows:
Name Value,
beginning
of period
Purchases Sales
proceeds
Net
realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Value,
end of
period
Dividend
income
Shares,
end of
period
Short-Term Investments            
Liquidity Fund $5,910,873 $147,757,370 $(151,208,375) $ — $ — $2,459,868 $57,459 2,459,868
8  Capital Shares
The Corporation may issue its shares in one or more series (such as the Fund). The authorized shares of the Fund consist of 75,000,000 common shares, $0.01 par value, for each Class.
Transactions in capital shares were as follows:
  Six Months Ended
March 31, 2026
(Unaudited)
  Year Ended
September 30, 2025
  Shares Amount   Shares Amount
Class A          
Shares sold 665,264 $23,475,072   1,542,585 $50,199,846
Reinvestment of distributions 338,577 11,623,361   178,236 5,894,279
Shares redeemed (506,913) (17,733,848)   (916,360) (30,341,565)
Net increase 496,928 $17,364,585   804,461 $25,752,560
Class I          
Shares sold 4,841,720 $171,813,992   7,621,012 $254,452,245
Reinvestment of distributions 2,935,115 101,554,974   2,070,313 68,920,718
Shares redeemed (7,772,600) (276,996,230)   (12,737,565) (428,259,610)
Net increase (decrease) 4,235 $(3,627,264)   (3,046,240) $(104,886,647)
Class R6          
Shares sold 334,520 $11,969,479   760,957 $25,169,470
Reinvestment of distributions 336,485 11,612,089   223,938 7,439,224
Shares redeemed (632,987) (22,856,821)   (1,097,209) (37,263,457)
Net increase (decrease) 38,018 $724,747   (112,314) $(4,654,763)
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Table of Contents
CFJAX-NCSR 3.31.26



Calvert
US Mid-Cap Core Responsible Index Fund
Semi-Annual Financial Statements and
Additional Information
March 31, 2026


 

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the prospectus and/or statement of additional information, which can be obtained by calling 1-800-368-2745 or from a financial intermediary. Prospective investors should read the prospectus carefully before investing. 

 

Semi-Annual Financial Statements and Additional Information March 31, 2026
Calvert
US Mid-Cap Core Responsible Index Fund
Table of Contents  
Items 6 and 7 of Form N-CSR:  
Schedule of Investments 1
Statement of Assets and Liabilities 11
Statement of Operations 13
Statements of Changes in Net Assets 14
Financial Highlights 15
Notes to Financial Statements 18
Items 8, 9 and 11 of Form N-CSR are Not Applicable. For Item 10 of Form N-CSR, see Item 7.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited)

Common Stocks — 99.7%
    
Security Shares Value
Aerospace & Defense — 1.6%  
ATI, Inc.(1)     6,772 $    985,055
Carpenter Technology Corp.     2,630    1,036,615
Curtiss-Wright Corp.     1,669    1,136,789
FTAI Aviation Ltd.     4,513    1,105,685
HEICO Corp.     4,566    1,251,997
Loar Holdings, Inc.(1)     1,370       78,487
Moog, Inc., Class A     1,179      345,023
Woodward, Inc.     2,721     973,900
      $6,913,551
Air Freight & Logistics — 0.5%  
C.H. Robinson Worldwide, Inc.   5,865 $974,000
Expeditors International of Washington, Inc.   6,372 912,662
GXO Logistics, Inc.(1)   6,359 329,714
      $2,216,376
Automobile Components — 0.5%  
Aptiv PLC(1)   10,213 $709,191
Autoliv, Inc.   3,755 394,876
BorgWarner, Inc.   10,152 550,847
Lear Corp.   2,672 323,526
      $1,978,440
Automobiles — 1.2%  
Ford Motor Co.   158,025 $1,823,609
General Motors Co.   35,539 2,647,655
Rivian Automotive, Inc., Class A(1)   40,667 612,038
      $5,083,302
Banks — 3.9%  
Bank OZK   4,427 $203,155
BOK Financial Corp.(2)   715 91,563
Citizens Financial Group, Inc.   16,401 983,568
Columbia Banking System, Inc.   11,616 318,627
Commerce Bancshares, Inc.   5,443 267,796
Cullen/Frost Bankers, Inc.   2,509 343,934
East West Bancorp, Inc.   5,252 560,703
F.N.B. Corp.   13,230 221,206
Fifth Third Bancorp   36,049 1,674,836
First Citizens Bancshares, Inc., Class A   342 644,554
First Financial Bankshares, Inc.   4,841 142,567
First Horizon Corp.   19,661 447,484
Flagstar Bank NA   10,699 140,906
Glacier Bancorp, Inc.   5,104 227,996
Hancock Whitney Corp.   3,086 196,239
Home BancShares, Inc.   7,588 204,345
Huntington Bancshares, Inc.   80,292 1,256,570
KeyCorp   37,266 747,183
Security Shares Value
Banks (continued)  
M&T Bank Corp.     6,087 $  1,258,305
Old National Bancorp    13,763      304,162
Pinnacle Financial Partners, Inc.     5,830      502,196
Popular, Inc.     2,546      341,597
Regions Financial Corp.    33,672      879,513
SouthState Bank Corp.     3,764      348,245
Truist Financial Corp.    49,967    2,296,983
UMB Financial Corp.     2,938      331,377
United Bankshares, Inc.   5,112 211,739
Valley National Bancorp   17,979 220,782
Webster Financial Corp.   6,030 418,602
Western Alliance Bancorp   3,935 278,795
Wintrust Financial Corp.   2,577 358,048
Zions Bancorp NA   5,372 309,535
      $16,733,111
Beverages — 0.7%  
Celsius Holdings, Inc.(1)   7,181 $254,782
Coca-Cola Consolidated, Inc.   2,530 485,102
Keurig Dr. Pepper, Inc.   57,089 1,503,153
Molson Coors Beverage Co., Class B   6,832 294,186
Primo Brands Corp., Class A   11,979 225,565
      $2,762,788
Biotechnology — 2.9%  
Alkermes PLC(1)   6,245 $220,823
Alnylam Pharmaceuticals, Inc.(1)   5,601 1,853,203
Biogen, Inc.(1)   6,183 1,133,529
BioMarin Pharmaceutical, Inc.(1)   7,646 431,923
Exelixis, Inc.(1)   11,484 492,549
Halozyme Therapeutics, Inc.(1)   5,229 337,950
Incyte Corp.(1)   6,758 636,063
Insmed, Inc.(1)   9,213 1,506,510
Ionis Pharmaceuticals, Inc.(1)   6,669 500,775
Madrigal Pharmaceuticals, Inc.(1)   773 404,642
Moderna, Inc.(1)   15,631 794,055
Natera, Inc.(1)   5,834 1,166,742
Neurocrine Biosciences, Inc.(1)   4,159 547,907
Revolution Medicines, Inc.(1)   7,537 732,973
Roivant Sciences Ltd.(1)   16,715 463,005
United Therapeutics Corp.(1)   1,835 1,088,118
      $12,310,767
Broadline Retail — 0.5%  
eBay, Inc.   18,078 $1,645,460
Etsy, Inc.(1)   3,892 194,522
Ollie's Bargain Outlet Holdings, Inc.(1)   2,228 205,065
      $2,045,047
 
1
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Building Products — 1.5%  
A.O. Smith Corp.     4,740 $    312,556
AAON, Inc.(2)     3,017      249,657
Advanced Drainage Systems, Inc.     3,193      437,856
Allegion PLC     3,718      540,188
Armstrong World Industries, Inc.     1,788      294,662
Builders FirstSource, Inc.(1)     4,193      345,210
Carlisle Cos., Inc.     2,260      753,981
CSW Industrials, Inc.       691      180,061
Fortune Brands Innovations, Inc.   4,697 183,042
Lennox International, Inc.   1,376 638,643
Masco Corp.   8,500 513,145
Modine Manufacturing Co.(1)   2,617 567,130
Owens Corning   5,614 607,547
Simpson Manufacturing Co., Inc.   1,794 307,886
Trex Co., Inc.(1)   4,626 168,479
UFP Industries, Inc.   2,350 216,482
Zurn Elkay Water Solutions Corp., Class C   5,619 251,956
      $6,568,481
Capital Markets — 4.0%  
Affiliated Managers Group, Inc.   1,136 $314,331
Ameriprise Financial, Inc.   3,627 1,611,839
Blue Owl Capital, Inc.   24,691 225,429
Carlyle Group, Inc.   10,008 484,287
Cboe Global Markets, Inc.   4,188 1,177,121
Evercore, Inc., Class A   1,399 417,615
FactSet Research Systems, Inc.   2,042 443,094
Franklin Resources, Inc.   12,788 302,053
Hamilton Lane, Inc., Class A   2,229 221,563
Houlihan Lokey, Inc.   2,175 312,374
Invesco Ltd.   17,977 436,661
Janus Henderson Group PLC   5,231 268,716
Jefferies Financial Group, Inc.   6,705 276,715
LPL Financial Holdings, Inc.   3,216 967,469
MarketAxess Holdings, Inc.   2,017 332,765
Morningstar, Inc.   1,356 229,232
MSCI, Inc.   3,058 1,648,293
Nasdaq, Inc.   17,643 1,497,714
Northern Trust Corp.   7,271 1,014,813
PJT Partners, Inc., Class A   772 107,864
Raymond James Financial, Inc.   6,900 999,051
SEI Investments Co.   4,191 328,868
State Street Corp.   10,868 1,375,454
Stifel Financial Corp.   5,899 436,054
T. Rowe Price Group, Inc.   8,572 772,680
TPG, Inc.   4,834 195,825
Tradeweb Markets, Inc., Class A   4,737 557,355
Virtu Financial, Inc., Class A   3,665 161,187
      $17,116,422
Security Shares Value
Chemicals — 1.1%  
Axalta Coating Systems Ltd.(1)     9,511 $    263,455
Balchem Corp.     1,385      234,730
Celanese Corp.     4,835      317,998
Eastman Chemical Co.     4,809      367,023
Element Solutions, Inc.    10,481      357,821
FMC Corp.     6,005      103,406
International Flavors & Fragrances, Inc.    11,495      833,962
Mosaic Co.    14,014      357,357
PPG Industries, Inc.   10,279 1,098,619
RPM International, Inc.   5,619 558,529
      $4,492,900
Commercial Services & Supplies — 0.9%  
Casella Waste Systems, Inc., Class A(1)   2,646 $209,933
Clean Harbors, Inc.(1)   2,233 640,268
Copart, Inc.(1)   40,019 1,328,631
MSA Safety, Inc.   1,664 272,813
Tetra Tech, Inc.   12,259 369,241
Veralto Corp.   11,171 987,740
      $3,808,626
Communications Equipment — 1.2%  
Ciena Corp.(1)   5,799 $2,251,346
F5, Inc.(1)   2,619 757,755
Lumentum Holdings, Inc.(1)   2,868 2,015,516
      $5,024,617
Construction & Engineering — 2.3%  
AECOM   6,111 $518,335
Comfort Systems USA, Inc.   1,441 1,987,125
Dycom Industries, Inc.(1)   1,323 448,259
EMCOR Group, Inc.   2,021 1,492,124
IES Holdings, Inc.(1)(2)   411 195,829
MasTec, Inc.(1)   2,802 901,515
Quanta Services, Inc.   5,726 3,143,689
Sterling Infrastructure, Inc.(1)   1,344 547,371
Valmont Industries, Inc.   842 336,438
WillScot Holdings Corp.   8,556 148,532
      $9,719,217
Construction Materials — 0.5%  
Knife River Corp.(1)   6,116 $499,372
Vulcan Materials Co.   5,674 1,545,030
      $2,044,402
Consumer Finance — 0.7%  
Ally Financial, Inc.   11,940 $468,406
Credit Acceptance Corp.(1)   196 82,998
FirstCash Holdings, Inc.   1,427 268,276
OneMain Holdings, Inc.   4,592 245,626
 
2
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Consumer Finance (continued)  
SLM Corp.     7,281 $    155,886
SoFi Technologies, Inc.(1)    51,320      814,962
Synchrony Financial    14,025     953,981
      $  2,990,135
Consumer Staples Distribution & Retail — 2.7%  
Albertsons Cos., Inc., Class A    16,888 $    287,772
BJ's Wholesale Club Holdings, Inc.(1)     5,365      528,023
Casey's General Stores, Inc.     1,602    1,166,032
Dollar General Corp.   8,691 1,031,882
Dollar Tree, Inc.(1)   7,984 874,328
Kroger Co.   26,702 1,932,157
Maplebear, Inc.(1)   8,757 328,037
Performance Food Group Co.(1)   6,485 555,505
Sprouts Farmers Market, Inc.(1)   3,971 306,283
Sysco Corp.   20,282 1,446,715
Target Corp.   17,925 2,172,510
U.S. Foods Holding Corp.(1)   9,701 894,529
      $11,523,773
Containers & Packaging — 1.4%  
Amcor PLC   20,448 $812,808
AptarGroup, Inc.   3,064 386,125
Avery Dennison Corp.   3,398 586,767
Ball Corp.   12,269 725,221
Crown Holdings, Inc.   4,916 492,829
Graphic Packaging Holding Co.   13,437 133,564
International Paper Co.   23,286 831,310
Packaging Corp. of America   3,817 810,044
Sealed Air Corp.   6,842 287,706
Silgan Holdings, Inc.   4,003 155,316
Smurfit Westrock PLC   23,305 928,704
      $6,150,394
Distributors — 0.3%  
Genuine Parts Co.   5,633 $595,690
LKQ Corp.   10,146 297,988
Pool Corp.   1,509 305,316
      $1,198,994
Diversified Consumer Services — 0.4%  
ADT, Inc.   29,828 $195,970
Bright Horizons Family Solutions, Inc.(1)   3,121 256,328
Covista, Inc.(1)   2,046 235,802
Duolingo, Inc.(1)   2,044 201,477
H&R Block, Inc.   6,380 202,501
Service Corp. International   7,138 588,956
Stride, Inc.(1)   2,069 182,424
      $1,863,458
Security Shares Value
Diversified REITs — 0.2%  
Essential Properties Realty Trust, Inc.    10,080 $    306,029
W.P. Carey, Inc.     9,773     664,173
      $    970,202
Electric Utilities — 2.2%  
Alliant Energy Corp.    11,915 $    855,020
Evergy, Inc.    10,553      864,502
Eversource Energy    17,254    1,195,357
Exelon Corp.    42,442    2,080,507
IDACORP, Inc.   2,330 333,120
NRG Energy, Inc.   8,995 1,314,529
Portland General Electric Co.   5,452 287,702
TXNM Energy, Inc.   5,133 300,075
Xcel Energy, Inc.   25,735 2,044,389
      $9,275,201
Electrical Equipment — 2.7%  
Acuity, Inc.   1,295 $362,885
AMETEK, Inc.   9,485 2,033,205
Generac Holdings, Inc.(1)   2,663 520,164
Hubbell, Inc.   2,385 1,170,415
Nextpower, Inc., Class A(1)   6,692 806,721
nVent Electric PLC   7,340 868,175
Regal Rexnord Corp.   3,045 570,207
Rockwell Automation, Inc.   4,654 1,670,227
Vertiv Holdings Co., Class A   14,335 3,592,064
      $11,594,063
Electronic Equipment, Instruments & Components — 4.0%  
Arrow Electronics, Inc.(1)   2,063 $295,855
Badger Meter, Inc.   1,303 198,512
CDW Corp.   5,811 703,247
Cognex Corp.   7,815 382,857
Coherent Corp.(1)   6,683 1,591,957
Corning, Inc.   29,517 4,013,427
Flex Ltd.(1)   16,358 1,070,795
Itron, Inc.(1)   1,712 153,447
Jabil, Inc.   4,615 1,225,882
Keysight Technologies, Inc.(1)   6,997 1,975,743
Littelfuse, Inc.   1,124 381,429
Ralliant Corp.   4,746 197,386
TD SYNNEX Corp.   3,010 507,817
TE Connectivity PLC   11,502 2,404,148
Teledyne Technologies, Inc.(1)   2,048 1,239,061
Vontier Corp.   6,590 233,747
Zebra Technologies Corp., Class A(1)   2,248 470,012
      $17,045,322
 
3
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Energy Equipment & Services — 0.6%  
Baker Hughes Co.    39,382 $  2,404,271
      $  2,404,271
Entertainment — 1.8%  
Electronic Arts, Inc.     9,525 $  1,941,862
Liberty Media Corp.-Liberty Formula One, Class A(1)    12,542      979,279
Roku, Inc.(1)     6,101      577,277
Take-Two Interactive Software, Inc.(1)     7,590    1,499,025
Warner Bros. Discovery, Inc.(1)    96,840    2,659,226
Warner Music Group Corp., Class A   7,137 182,279
      $7,838,948
Financial Services — 1.3%  
Affirm Holdings, Inc.(1)   12,454 $570,642
Corebridge Financial, Inc.   10,550 251,723
Corpay, Inc.(1)   3,012 876,462
Equitable Holdings, Inc.   11,139 413,368
Essent Group Ltd.   3,883 226,923
Euronet Worldwide, Inc.(1)   2,009 133,337
Fidelity National Information Services, Inc.   22,466 1,053,880
Jack Henry & Associates, Inc.   3,230 510,469
Jackson Financial, Inc., Class A   2,587 273,498
MGIC Investment Corp.   8,642 226,852
PennyMac Financial Services, Inc.   1,162 101,559
Shift4 Payments, Inc., Class A(1)   2,686 117,459
Toast, Inc., Class A(1)   21,861 579,535
Voya Financial, Inc.   3,461 236,456
      $5,572,163
Food Products — 1.6%  
Bunge Global SA   5,962 $758,366
Campbell's Co.(2)   7,631 169,942
Conagra Brands, Inc.   19,546 307,263
Darling Ingredients, Inc.(1)   7,226 446,928
General Mills, Inc.   23,499 874,633
Hershey Co.   6,373 1,324,883
Hormel Foods Corp.   12,829 290,577
Ingredion, Inc.   2,795 314,885
J.M. Smucker Co.   4,774 460,404
Kraft Heinz Co.   36,377 818,119
Lamb Weston Holdings, Inc.   5,683 240,163
McCormick & Co., Inc.   11,402 575,117
Pilgrim's Pride Corp.   2,014 76,049
Post Holdings, Inc.(1)   1,981 195,842
      $6,853,171
Gas Utilities — 0.1%  
Southwest Gas Holdings, Inc.   2,823 $245,318
UGI Corp.   9,528 347,010
      $592,328
Security Shares Value
Ground Transportation — 1.2%  
J.B. Hunt Transport Services, Inc.     3,626 $    768,349
Knight-Swift Transportation Holdings, Inc.     7,955      458,049
Landstar System, Inc.     1,609      257,939
Lyft, Inc., Class A(1)    17,010      226,233
Old Dominion Freight Line, Inc.     8,016    1,566,326
Ryder System, Inc.     1,791      366,636
Saia, Inc.(1)     1,227      431,021
XPO, Inc.(1)     5,455   1,061,270
      $5,135,823
Health Care Equipment & Supplies — 3.7%  
Align Technology, Inc.(1)   2,922 $500,919
Baxter International, Inc.   21,431 360,041
Becton Dickinson & Co.   11,823 1,858,930
Cooper Cos., Inc.(1)   8,596 614,614
DexCom, Inc.(1)   15,982 1,003,670
Edwards Lifesciences Corp.(1)   23,868 1,911,349
GE HealthCare Technologies, Inc.   19,552 1,391,711
Glaukos Corp.(1)   2,200 236,852
Globus Medical, Inc., Class A(1)   4,587 395,216
Hologic, Inc.(1)   9,625 727,554
IDEXX Laboratories, Inc.(1)   3,259 1,831,200
Insulet Corp.(1)   2,905 609,585
Masimo Corp.(1)   2,163 384,733
Merit Medical Systems, Inc.(1)   2,484 171,222
Penumbra, Inc.(1)   1,587 521,123
ResMed, Inc.   6,268 1,407,041
STERIS PLC   4,199 928,525
Teleflex, Inc.   1,958 234,196
Zimmer Biomet Holdings, Inc.   8,296 750,124
      $15,838,605
Health Care Providers & Services — 1.5%  
Centene Corp.(1)   20,506 $671,366
Chemed Corp.   608 229,666
CorVel Corp.(1)   1,302 71,154
DaVita, Inc.(1)   1,714 263,425
Encompass Health Corp.   4,425 428,030
Ensign Group, Inc.   2,472 498,108
Guardant Health, Inc.(1)   5,577 515,148
HealthEquity, Inc.(1)   3,899 325,839
Henry Schein, Inc.(1)   3,971 292,663
Humana, Inc.   5,164 895,386
Labcorp Holdings, Inc.   3,487 930,367
Molina Healthcare, Inc.(1)   2,047 272,865
Option Care Health, Inc.(1)   7,184 193,393
Quest Diagnostics, Inc.   4,776 936,001
      $6,523,411
 
4
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Health Care REITs — 0.6%  
Alexandria Real Estate Equities, Inc.     7,761 $    360,266
American Healthcare REIT, Inc.     8,285      390,720
CareTrust REIT, Inc.     9,735      356,788
Healthcare Realty Trust, Inc.    15,536      263,957
Healthpeak Properties, Inc.    31,417      516,181
Omega Healthcare Investors, Inc.    13,798     604,628
      $  2,492,540
Health Care Technology — 0.3%  
Veeva Systems, Inc., Class A(1)   6,623 $1,163,396
Waystar Holding Corp.(1)   4,499 108,471
      $1,271,867
Hotel & Resort REITs — 0.2%  
Host Hotels & Resorts, Inc.   30,357 $581,640
Ryman Hospitality Properties, Inc.   2,768 255,403
      $837,043
Hotels, Restaurants & Leisure — 1.6%  
Aramark   11,935 $483,845
Brinker International, Inc.(1)   1,831 261,412
Cava Group, Inc.(1)   4,578 370,360
Choice Hotels International, Inc.   1,344 139,104
Darden Restaurants, Inc.   5,175 1,014,507
Domino's Pizza, Inc.   1,473 528,498
Hyatt Hotels Corp., Class A   2,151 309,292
Life Time Group Holdings, Inc.(1)   8,021 216,086
Planet Fitness, Inc., Class A(1)   4,319 321,247
Shake Shack, Inc., Class A(1)   1,868 165,262
Texas Roadhouse, Inc.   2,762 456,117
Vail Resorts, Inc.(2)   2,014 258,436
Wingstop, Inc.   1,220 189,063
Wyndham Hotels & Resorts, Inc.   3,739 303,719
Yum! Brands, Inc.   11,700 1,819,116
      $6,836,064
Household Durables — 1.4%  
D.R. Horton, Inc.   11,016 $1,511,616
Lennar Corp., Class A   10,207 886,376
NVR, Inc.(1)   121 797,369
PulteGroup, Inc.   8,828 1,038,261
Somnigroup International, Inc.   7,345 542,942
Taylor Morrison Home Corp.(1)   4,228 246,239
Toll Brothers, Inc.   4,407 601,423
TopBuild Corp.(1)   1,247 438,071
      $6,062,297
Household Products — 0.6%  
Church & Dwight Co., Inc.   9,709 $906,044
Clorox Co.   4,984 516,492
Security Shares Value
Household Products (continued)  
Kimberly-Clark Corp.    13,331 $  1,286,041
      $  2,708,577
Independent Power and Renewable Electricity Producers — 0.2%  
AES Corp.    32,652 $    460,067
Brookfield Renewable Corp.     6,311      251,367
Clearway Energy, Inc., Class C     4,952     194,564
      $    905,998
Industrial REITs — 0.5%  
Americold Realty Trust, Inc.   12,906 $147,903
EastGroup Properties, Inc.   2,307 427,003
First Industrial Realty Trust, Inc.   5,650 326,852
Lineage, Inc.(2)   3,105 101,720
Rexford Industrial Realty, Inc.   10,863 355,546
STAG Industrial, Inc.   8,890 320,573
Terreno Realty Corp.   4,496 276,144
      $1,955,741
Insurance — 3.8%  
American Financial Group, Inc.   2,740 $349,925
American International Group, Inc.   21,070 1,585,517
Arch Capital Group Ltd.(1)   13,711 1,316,119
Assurant, Inc.   1,945 423,640
Axis Capital Holdings Ltd.   3,224 326,946
Brown & Brown, Inc.   14,932 973,716
Cincinnati Financial Corp.   6,108 961,094
Everest Group Ltd.   1,684 550,415
First American Financial Corp.   5,306 319,899
Hanover Insurance Group, Inc.   1,461 253,264
Hartford Insurance Group, Inc.   10,863 1,469,003
Kinsale Capital Group, Inc.   907 309,886
Markel Group, Inc.(1)   483 924,496
Old Republic International Corp.   9,491 378,691
Primerica, Inc.   1,289 322,869
Principal Financial Group, Inc.   8,746 788,102
Prudential Financial, Inc.   13,666 1,335,031
Reinsurance Group of America, Inc.   2,643 539,595
RenaissanceRe Holdings Ltd.   1,665 494,888
RLI Corp.   3,250 185,380
Ryan Specialty Holdings, Inc.   4,259 143,699
Unum Group   6,297 459,870
W.R. Berkley Corp.   11,507 762,684
Willis Towers Watson PLC   3,734 1,085,474
      $16,260,203
Interactive Media & Services — 0.4%  
Pinterest, Inc., Class A(1)   26,580 $487,477
Reddit, Inc., Class A(1)   6,002 808,170
 
5
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Interactive Media & Services (continued)  
Snap, Inc., Class A(1)    52,717 $    242,498
      $  1,538,145
IT Services — 1.6%  
Akamai Technologies, Inc.(1)     6,380 $    732,743
Amdocs Ltd.     5,216      340,396
Cognizant Technology Solutions Corp., Class A    21,368    1,310,927
EPAM Systems, Inc.(1)     2,340      316,836
Gartner, Inc.(1)     3,777      598,050
GoDaddy, Inc., Class A(1)   5,935 490,646
Kyndryl Holdings, Inc.(1)   10,506 137,839
MongoDB, Inc.(1)   3,514 860,122
Twilio, Inc., Class A(1)   6,613 832,048
VeriSign, Inc.   4,141 1,028,459
      $6,648,066
Leisure Products — 0.2%  
Hasbro, Inc.   5,401 $505,533
Mattel, Inc.(1)   12,375 179,809
      $685,342
Life Sciences Tools & Services — 2.1%  
Agilent Technologies, Inc.   12,238 $1,394,887
Avantor, Inc.(1)   28,803 225,816
Bio-Rad Laboratories, Inc., Class A(1)   803 223,836
Bio-Techne Corp.   6,194 323,698
Bruker Corp.   4,992 180,311
Charles River Laboratories International, Inc.(1)   2,115 364,838
Illumina, Inc.(1)   6,323 779,373
IQVIA Holdings, Inc.(1)   7,057 1,203,501
Medpace Holdings, Inc.(1)   977 469,146
Mettler-Toledo International, Inc.(1)   865 1,090,938
Repligen Corp.(1)   2,132 251,192
Revvity, Inc.   4,907 429,902
Waters Corp.(1)   4,255 1,267,139
West Pharmaceutical Services, Inc.   2,959 741,644
      $8,946,221
Machinery — 6.0%  
AGCO Corp.   2,803 $324,784
Allison Transmission Holdings, Inc.   3,881 454,310
Chart Industries, Inc.(1)   2,058 425,491
CNH Industrial NV   37,124 408,364
Cummins, Inc.   5,365 2,886,477
Donaldson Co., Inc.   4,940 419,258
Dover Corp.   6,112 1,274,046
ESAB Corp.   2,633 254,506
ESCO Technologies, Inc.   1,102 310,070
Federal Signal Corp.   2,470 267,106
Flowserve Corp.   5,393 396,439
Security Shares Value
Machinery (continued)  
Fortive Corp.    13,996 $    773,699
Gates Industrial Corp. PLC(1)    10,818      244,595
Graco, Inc.     7,229      611,935
IDEX Corp.     3,262      618,312
Ingersoll Rand, Inc.    17,148    1,373,898
ITT, Inc.     3,932      749,164
JBT Marel Corp.     2,256      288,475
Lincoln Electric Holdings, Inc.     2,470      615,228
Middleby Corp.(1)   2,126 281,865
Mueller Industries, Inc.   4,737 524,860
Nordson Corp.   2,440 649,186
Oshkosh Corp.   2,755 405,563
Otis Worldwide Corp.   17,343 1,336,798
PACCAR, Inc.   20,562 2,374,911
Pentair PLC   7,288 634,858
RBC Bearings, Inc.(1)   1,368 742,988
Snap-on, Inc.   2,261 821,240
SPX Technologies, Inc.(1)   2,121 424,073
Stanley Black & Decker, Inc.   6,870 488,182
Timken Co.   2,942 295,877
Toro Co.   4,574 427,395
Watts Water Technologies, Inc., Class A   1,140 330,931
Westinghouse Air Brake Technologies Corp.   7,127 1,781,109
Xylem, Inc.   11,097 1,326,091
      $25,542,084
Media — 0.8%  
Liberty Broadband Corp., Class C(1)   6,321 $317,946
New York Times Co., Class A   8,921 746,955
Nexstar Media Group, Inc.   1,524 275,585
Omnicom Group, Inc.   14,658 1,103,894
Paramount Skydance Corp., Class B   18,200 164,164
Sirius XM Holdings, Inc.   10,206 235,555
Trade Desk, Inc., Class A(1)   20,471 464,487
      $3,308,586
Metals & Mining — 1.0%  
Commercial Metals Co.   9,097 $558,829
Nucor Corp.   9,847 1,665,128
Reliance, Inc.   2,883 876,201
Steel Dynamics, Inc.   6,586 1,185,480
      $4,285,638
Mortgage REITs — 0.4%  
AGNC Investment Corp.(2)   43,521 $436,516
Annaly Capital Management, Inc.   27,506 581,752
Rithm Capital Corp.   23,333 221,197
Starwood Property Trust, Inc.   14,216 244,799
      $1,484,264
 
6
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Multi-Utilities — 3.5%  
Ameren Corp.    12,335 $  1,355,863
CMS Energy Corp.    13,975    1,084,181
Consolidated Edison, Inc.    15,597    1,765,268
Dominion Energy, Inc.    35,908    2,219,833
DTE Energy Co.     9,478    1,385,873
NiSource, Inc.    22,251    1,038,232
Public Service Enterprise Group, Inc.    21,272    1,721,968
Sempra    26,214    2,547,214
WEC Energy Group, Inc.   14,143 1,637,335
      $14,755,767
Office REITs — 0.2%  
BXP, Inc.   7,305 $379,129
COPT Defense Properties   4,753 145,442
Cousins Properties, Inc.   7,247 163,565
Kilroy Realty Corp.   4,701 132,615
Vornado Realty Trust   8,116 210,935
      $1,031,686
Oil, Gas & Consumable Fuels — 0.6%  
CNX Resources Corp.(1)   12,636 $487,118
Occidental Petroleum Corp.   30,787 2,001,155
      $2,488,273
Paper & Forest Products — 0.0%  
Louisiana-Pacific Corp.   2,723 $198,098
      $198,098
Passenger Airlines — 0.6%  
Alaska Air Group, Inc.(1)   5,240 $192,727
American Airlines Group, Inc.(1)   30,167 323,994
Delta Air Lines, Inc.   27,510 1,828,865
Joby Aviation, Inc.(1)   10,244 84,615
      $2,430,201
Personal Care Products — 0.5%  
BellRing Brands, Inc.(1)   4,011 $64,537
e.l.f. Beauty, Inc.(1)   2,456 148,858
Estee Lauder Cos., Inc., Class A   9,432 676,935
Kenvue, Inc.   77,021 1,327,842
      $2,218,172
Pharmaceuticals — 0.5%  
Corcept Therapeutics, Inc.(1)   3,908 $157,531
Elanco Animal Health, Inc.(1)   20,203 483,458
Jazz Pharmaceuticals PLC(1)   2,497 472,058
Royalty Pharma PLC, Class A   17,240 827,003
      $1,940,050
Security Shares Value
Professional Services — 1.7%  
Amentum Holdings, Inc.(1)     6,653 $    173,510
Booz Allen Hamilton Holding Corp.     6,464      504,386
Broadridge Financial Solutions, Inc.     5,180      841,646
Equifax, Inc.     5,674    1,021,717
ExlService Holdings, Inc.(1)     7,197      219,149
FTI Consulting, Inc.(1)     1,632      288,489
Genpact Ltd.     6,893      256,764
Parsons Corp.(1)     2,606      141,167
Paycom Software, Inc.   2,159 262,405
Paylocity Holding Corp.(1)   2,077 224,399
Robert Half, Inc.   5,132 130,353
Science Applications International Corp.   2,031 192,783
SS&C Technologies Holdings, Inc.   9,827 664,010
TransUnion   10,546 729,678
UL Solutions, Inc., Class A   4,208 360,668
Verisk Analytics, Inc.   6,283 1,192,199
      $7,203,323
Real Estate Management & Development — 0.9%  
CBRE Group, Inc., Class A(1)   12,504 $1,693,792
CoStar Group, Inc.(1)   22,200 895,548
Jones Lang LaSalle, Inc.(1)   2,096 637,855
Zillow Group, Inc., Class C(1)   9,580 396,420
      $3,623,615
Residential REITs — 1.5%  
AvalonBay Communities, Inc.   6,326 $1,033,352
Camden Property Trust   4,879 476,483
Equity LifeStyle Properties, Inc.   9,018 562,904
Equity Residential   16,852 996,796
Essex Property Trust, Inc.   2,971 718,982
Invitation Homes, Inc.   26,965 670,080
Mid-America Apartment Communities, Inc.   5,385 657,616
Sun Communities, Inc.   5,668 713,941
UDR, Inc.   14,698 496,499
      $6,326,653
Retail REITs — 1.2%  
Brixmor Property Group, Inc.   14,512 $417,946
Federal Realty Investment Trust   4,044 429,513
Kimco Realty Corp.   30,085 676,010
Kite Realty Group Trust   10,138 248,888
NNN REIT, Inc.   8,970 377,009
Phillips Edison & Co., Inc.   6,244 233,650
Realty Income Corp.   37,212 2,276,630
Regency Centers Corp.   8,210 621,169
      $5,280,815
Semiconductors & Semiconductor Equipment — 3.6%  
Allegro MicroSystems, Inc.(1)   5,062 $159,605
 
7
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Semiconductors & Semiconductor Equipment (continued)  
Cirrus Logic, Inc.(1)     2,237 $    323,515
Enphase Energy, Inc.(1)     4,871      184,173
Entegris, Inc.     6,653      779,998
First Solar, Inc.(1)     3,755      740,711
Lattice Semiconductor Corp.(1)     6,153      570,752
MACOM Technology Solutions Holdings, Inc.(1)     2,992      664,433
Marvell Technology, Inc.    34,333    3,400,684
Microchip Technology, Inc.    22,933    1,481,701
MKS, Inc.   3,071 705,747
Monolithic Power Systems, Inc.   1,915 2,093,765
ON Semiconductor Corp.(1)   17,460 1,081,123
Qorvo, Inc.(1)   4,268 330,343
Rambus, Inc.(1)   4,786 411,740
Skyworks Solutions, Inc.   6,767 362,373
Teradyne, Inc.   6,433 1,907,127
Universal Display Corp.   1,899 174,062
      $15,371,852
Software — 2.9%  
ACI Worldwide, Inc.(1)   4,176 $171,258
AppFolio, Inc., Class A(1)   998 157,504
Bentley Systems, Inc., Class B   7,415 260,415
Box, Inc., Class A(1)   6,900 163,116
CCC Intelligent Solutions Holdings, Inc.(1)   27,214 163,284
Clearwater Analytics Holdings, Inc., Class A(1)   13,007 307,616
Commvault Systems, Inc.(1)   2,127 165,672
Datadog, Inc., Class A(1)   14,226 1,679,379
Docusign, Inc.(1)   9,037 428,444
Dolby Laboratories, Inc., Class A   2,976 178,739
Dropbox, Inc., Class A(1)   8,500 193,120
Dynatrace, Inc.(1)   13,305 492,019
Elastic NV(1)   4,197 209,808
Fair Isaac Corp.(1)   1,046 1,116,647
Gen Digital, Inc.   25,658 483,140
Guidewire Software, Inc.(1)   3,902 583,583
HubSpot, Inc.(1)   2,288 558,501
Manhattan Associates, Inc.(1)   2,603 346,511
MARA Holdings, Inc.(1)(2)   15,883 129,605
Nutanix, Inc., Class A(1)   12,286 466,991
PTC, Inc.(1)   5,475 780,133
Q2 Holdings, Inc.(1)   2,958 139,913
Qualys, Inc.(1)   1,711 150,311
Samsara, Inc., Class A(1)   14,955 473,924
SentinelOne, Inc., Class A(1)   13,591 175,052
SPS Commerce, Inc.(1)   1,768 98,425
Trimble, Inc.(1)   10,311 672,586
Tyler Technologies, Inc.(1)   1,900 650,522
Varonis Systems, Inc.(1)   4,687 100,630
Zscaler, Inc.(1)   4,702 659,644
      $12,156,492
Security Shares Value
Specialized REITs — 1.6%  
Crown Castle, Inc.    18,983 $  1,543,508
CubeSmart    10,182      373,170
Extra Space Storage, Inc.     9,503    1,246,128
Iron Mountain, Inc.    13,053    1,333,233
Lamar Advertising Co., Class A     4,071      515,633
National Storage Affiliates Trust     3,559      134,317
SBA Communications Corp.     4,705      809,778
Weyerhaeuser Co.    26,032     635,962
      $6,591,729
Specialty Retail — 2.4%  
AutoNation, Inc.(1)   1,071 $209,124
Bath & Body Works, Inc.   8,936 166,835
Best Buy Co., Inc.   7,892 506,667
Boot Barn Holdings, Inc.(1)   1,115 163,191
Burlington Stores, Inc.(1)   2,548 829,068
CarMax, Inc.(1)   5,467 227,318
Dick's Sporting Goods, Inc.   2,516 498,898
Five Below, Inc.(1)   2,086 476,609
Floor & Decor Holdings, Inc., Class A(1)   4,178 212,242
GameStop Corp., Class A(1)   16,722 385,275
Gap, Inc.   9,146 221,333
Group 1 Automotive, Inc.   445 147,130
Lithia Motors, Inc., Class A   982 245,225
Penske Automotive Group, Inc.   761 113,785
Ross Stores, Inc.   12,672 2,745,135
Tractor Supply Co.   21,193 960,043
Ulta Beauty, Inc.(1)   1,768 924,151
Urban Outfitters, Inc.(1)   2,470 156,475
Wayfair, Inc., Class A(1)   3,985 299,712
Williams-Sonoma, Inc.   4,664 850,387
      $10,338,603
Technology Hardware, Storage & Peripherals — 3.3%  
Everpure, Inc., Class A(1)   14,383 $849,172
Hewlett Packard Enterprise Co.   59,108 1,407,361
HP, Inc.   41,404 795,371
NetApp, Inc.   9,113 933,080
Sandisk Corp.(1)   5,336 3,390,174
Seagate Technology Holdings PLC   8,352 3,271,980
Western Digital Corp.   12,852 3,476,338
      $14,123,476
Textiles, Apparel & Luxury Goods — 0.8%  
Crocs, Inc.(1)   1,844 $153,089
Deckers Outdoor Corp.(1)   5,662 566,710
lululemon Athletica, Inc.(1)   4,061 621,739
Ralph Lauren Corp.   1,486 511,169
Tapestry, Inc.   8,003 1,129,303
 
8
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Textiles, Apparel & Luxury Goods (continued)  
VF Corp.    13,704 $    232,831
      $  3,214,841
Trading Companies & Distributors — 2.1%  
Air Lease Corp.     4,640 $    301,322
Applied Industrial Technologies, Inc.     1,602      425,043
Core & Main, Inc., Class A(1)     8,535      421,629
Fastenal Co.    45,836    2,126,790
Ferguson Enterprises, Inc.     7,781    1,814,996
GATX Corp.   1,659 283,258
QXO, Inc.(1)   29,381 570,579
SiteOne Landscape Supply, Inc.(1)   1,631 217,102
United Rentals, Inc.   2,562 1,866,571
Watsco, Inc.   1,607 584,610
WESCO International, Inc.   1,831 500,998
      $9,112,898
Water Utilities — 0.4%  
American Water Works Co., Inc.   8,997 $1,224,402
Essential Utilities, Inc.   13,225 532,570
      $1,756,972
Total Common Stocks
(identified cost $317,226,766)
    $424,120,501
    
Rights — 0.0%
    
Security Shares Value
Health Care Equipment & Supplies — 0.0%  
Abiomed, Inc., CVR, Exp. 12/31/29(1)(3)(4)     2,600 $      2,652
Total Rights
(identified cost $2,652)
    $      2,652
    
Miscellaneous — 0.0%
    
Security Shares Value
Software — 0.0%  
Pivotal Software, Inc., Escrow Certificates(1)(3)       886 $          0
Total Miscellaneous
(identified cost $0)
    $          0
    
Short-Term Investments — 0.2%      
Affiliated Fund — 0.2%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.57%(5)   813,819 $    813,819
Total Affiliated Fund
(identified cost $813,819)
    $    813,819
Securities Lending Collateral — 0.0%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 3.68%(6)   127,467 $    127,467
Total Securities Lending Collateral
(identified cost $127,467)
    $    127,467
Total Short-Term Investments
(identified cost $941,286)
    $    941,286
Total Investments — 99.9%
(identified cost $318,170,704)
    $425,064,439
Other Assets, Less Liabilities — 0.1%     $    363,428
Net Assets — 100.0%     $425,427,867
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
Amount is less than 0.05% or (0.05)%, as applicable.
(1) Non-income producing security.
(2) All or a portion of this security was on loan at March 31, 2026. The aggregate market value of securities on loan at March 31, 2026 was $1,491,826.
(3) Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy.
(4) Restricted security. Total market value of restricted securities amounts to $2,652, which represents less than 0.05% of the net assets of the Fund as of March 31, 2026.
(5) May be deemed to be an affiliated investment company (see Note 7). The rate shown is the annualized seven-day yield as of March 31, 2026.
(6) Represents investment of cash collateral received in connection with securities lending.
 
Restricted Securities
Description Acquisition Date Cost
Abiomed, Inc., CVR, Exp. 12/31/29 12/28/22 $2,652
    $2,652
    
9
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Abbreviations: 
CVR – Contingent Value Rights
REITs – Real Estate Investment Trusts
10
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited)

  March 31, 2026
Assets  
Investments in securities of unaffiliated issuers, at value (identified cost $317,356,885) - including
$1,491,826 of securities on loan 
$424,250,620
Investments in securities of affiliated issuers, at value (identified cost $813,819) 813,819
Cash 120
Receivable for capital shares sold 370,041
Dividends receivable 485,845
Dividends receivable - affiliated 3,203
Securities lending income receivable 1,258
Receivable from affiliates 140,728
Directors' deferred compensation plan 37,181
Total assets $426,102,815
Liabilities  
Payable for capital shares redeemed $236,842
Deposits for securities loaned 127,467
Payable to affiliates:  
Investment advisory fee 43,932
Administrative fee 44,057
Distribution and service fees 15,066
Sub-transfer agency fee 12,032
Directors' deferred compensation plan 37,181
Payable for accounting fees 71,893
Accrued expenses 86,478
Total liabilities $674,948
Net Assets $425,427,867
Sources of Net Assets  
Paid-in capital $316,198,584
Distributable earnings 109,229,283
Net Assets $425,427,867
Class A Shares  
Net Assets $69,632,857
Shares Outstanding 1,616,611
Net Asset Value and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$43.07
Maximum Offering Price Per Share
(100 ÷ 95.25 of net asset value per share)
$45.22
Class I Shares  
Net Assets $319,341,627
Shares Outstanding 7,332,762
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$43.55
11
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited) — continued

  March 31, 2026
Class R6 Shares  
Net Assets $36,453,383
Shares Outstanding 838,732
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$43.46
    
On sales of $50,000 or more, the offering price of Class A shares is reduced.
12
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Statement of Operations (Unaudited)

  Six Months Ended
  March 31, 2026
Investment Income  
Dividend income (net of foreign taxes withheld of $1,106) $3,532,387
Dividend income - affiliated issuers 13,643
Interest income 485
Securities lending income, net 7,542
Total investment income $3,554,057
Expenses  
Investment advisory fee $263,033
Administrative fee 263,033
Distribution and service fees:  
Class A 88,268
Directors' fees and expenses 12,348
Custodian fees 11,781
Transfer agency fees and expenses 253,696
Accounting fees 54,656
Professional fees 27,770
Registration fees 29,369
Reports to shareholders 16,716
Miscellaneous 15,313
Total expenses $1,035,983
Waiver and/or reimbursement of expenses by affiliates $(427,664)
Net expenses $608,319
Net investment income $2,945,738
Realized and Unrealized Gain (Loss)  
Net realized gain (loss):  
Investment securities $9,003,802
Net realized gain $9,003,802
Change in unrealized appreciation (depreciation):  
Investment securities $(5,497,939)
Net change in unrealized appreciation (depreciation) $(5,497,939)
Net realized and unrealized gain $3,505,863
Net increase in net assets from operations $6,451,601
13
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Statements of Changes in Net Assets

  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended
September 30,
2025
Increase (Decrease) in Net Assets    
From operations:    
Net investment income $2,945,738 $6,067,146
Net realized gain 9,003,802 24,152,833
Net change in unrealized appreciation (depreciation) (5,497,939) (1,215,139)
Net increase in net assets from operations $6,451,601 $29,004,840
Distributions to shareholders:    
Class A $(2,923,176) $(586,014)
Class I (14,343,191) (4,002,444)
Class R6 (1,740,529) (452,372)
Total distributions to shareholders $(19,006,896) $(5,040,830)
Capital share transactions:    
Class A $1,913,348 $(2,080,425)
Class I (5,076,629) (46,587,492)
Class R6 (5,973,660) (5,439,382)
Net decrease in net assets from capital share transactions $(9,136,941) $(54,107,299)
Net decrease in net assets $(21,692,236) $(30,143,289)
Net Assets    
At beginning of period $447,120,103 $477,263,392
At end of period $425,427,867 $447,120,103
14
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights

  Class A
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $44.34 $41.89 $33.17 $29.95 $39.02 $29.17
Income (Loss) From Operations            
Net investment income(1) $0.25 $0.47 $0.36 $0.33 $0.25 $0.22
Net realized and unrealized gain (loss) 0.38 2.35 8.67 3.15 (8.25) 10.47
Total income (loss) from operations $0.63 $2.82 $9.03 $3.48 $(8.00) $10.69
Less Distributions            
From net investment income $(0.49) $(0.37) $(0.31) $(0.26) $(0.14) $(0.19)
From net realized gain (1.41)  —  —  — (0.93) (0.65)
Total distributions $(1.90) $(0.37) $(0.31) $(0.26) $(1.07) $(0.84)
Net asset value — End of period $43.07 $44.34 $41.89 $33.17 $29.95 $39.02
Total Return(2) 1.32%(3) 6.75% 27.35% 11.63% (21.17)% 37.14%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $69,633 $69,731 $68,132 $61,388 $48,932 $50,682
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.69%(5) 0.65% 0.67% 0.67% 0.66% 0.68%
Net expenses 0.49%(5)(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%
Net investment income 1.13%(5) 1.12% 0.96% 0.97% 0.70% 0.57%
Portfolio Turnover 5%(3) 27% 28% 25% 26% 26%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
15
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class I
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $44.85 $42.36 $33.55 $30.27 $39.39 $29.42
Income (Loss) From Operations            
Net investment income(1) $0.31 $0.57 $0.46 $0.41 $0.35 $0.31
Net realized and unrealized gain (loss) 0.39 2.39 8.75 3.19 (8.34) 10.57
Total income (loss) from operations $0.70 $2.96 $9.21 $3.60 $(7.99) $10.88
Less Distributions            
From net investment income $(0.59) $(0.47) $(0.40) $(0.32) $(0.20) $(0.26)
From net realized gain (1.41)  —  —  — (0.93) (0.65)
Total distributions $(2.00) $(0.47) $(0.40) $(0.32) $(1.13) $(0.91)
Net asset value — End of period $43.55 $44.85 $42.36 $33.55 $30.27 $39.39
Total Return(2) 1.46%(3) 7.03% 27.61% 11.92% (20.97)% 37.49%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $319,342 $333,943 $362,981 $325,322 $276,747 $262,918
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.44%(5) 0.40% 0.42% 0.42% 0.42% 0.43%
Net expenses 0.24%(5)(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%
Net investment income 1.38%(5) 1.36% 1.21% 1.21% 0.96% 0.83%
Portfolio Turnover 5%(3) 27% 28% 25% 26% 26%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
16
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class R6
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30, Period Ended
September 30,
2022(1)
  2025 2024 2023
Net asset value — Beginning of period $44.78 $42.30 $33.50 $30.27 $37.87
Income (Loss) From Operations          
Net investment income(2) $0.31 $0.59 $0.48 $0.44 $0.31
Net realized and unrealized gain (loss) 0.39 2.39 8.74 3.17 (7.91)
Total income (loss) from operations $0.70 $2.98 $9.22 $3.61 $(7.60)
Less Distributions          
From net investment income $(0.61) $(0.50) $(0.42) $(0.38) $ —
From net realized gain (1.41)  —  —  —  —
Total distributions $(2.02) $(0.50) $(0.42) $(0.38) $ —
Net asset value — End of period $43.46 $44.78 $42.30 $33.50 $30.27
Total Return(3) 1.47%(4) 7.07% 27.70% 11.91% (20.04)%(4)
Ratios/Supplemental Data          
Net assets, end of period (000’s omitted) $36,453 $43,447 $46,150 $30,470 $218
Ratios (as a percentage of average daily net assets):(5)          
Total expenses 0.37%(6) 0.34% 0.38% 0.38% 0.38%(6)
Net expenses 0.20%(6)(7) 0.20%(7) 0.20%(7) 0.20%(7) 0.20%(6)(7)
Net investment income 1.41%(6) 1.41% 1.26% 1.29% 1.40%(6)
Portfolio Turnover 5%(4) 27% 28% 25% 26%(4)(8)
    
(1) For the period from the commencement of operations, February 1, 2022, to September 30, 2022.
(2) Computed using average shares outstanding.
(3) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(4) Not annualized.
(5) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(6) Annualized.
(7) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024 and 2023 and the period ended September 30, 2022).
(8) For the year ended September 30, 2022.
17
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies
Calvert US Mid-Cap Core Responsible Index Fund (the Fund) is a diversified series of Calvert Responsible Index Series, Inc. (the Corporation). The Corporation is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The investment objective of the Fund is to seek to track the performance of the Calvert US Mid-Cap Core Responsible Index, which measures the investment return of mid-capitalization stocks.
The Fund offers three classes of shares. Class A shares are generally sold subject to a sales charge imposed at time of purchase. A contingent deferred sales charge of 0.25% may apply to certain redemptions of Class A shares for accounts for which no sales charge was paid, if redeemed within 12 months of purchase. Class I and Class R6 shares are sold at net asset value, are not subject to a sales charge and are sold only to certain eligible investors. Each class represents a pro rata interest in the Fund, but votes separately on class-specific matters and is subject to different expenses.
The Fund applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946). Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements.
A  Investment Valuation— Net asset value per share is determined every business day as of the close of the regular session of the New York Stock Exchange (generally 4:00 p.m. Eastern time). The Fund uses independent pricing services approved by the Board of Directors (the Board) to value its investments wherever possible. Investments for which market quotations are not available or deemed not reliable are fair valued in good faith by the
Board’s valuation designee.
U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Valuation techniques used to value the Fund’s investments by major category are as follows:
Equity Securities. Equity securities (including warrants and rights) listed on a U.S. securities exchange generally are valued at the last sale or closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price and are categorized as Level 1 in the hierarchy. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices and are categorized as Level 2 in the hierarchy.
Other Securities.  Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day and are categorized as Level 1 in the hierarchy.
Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Board has designated the Fund’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
The values assigned to fair value investments are based on available information and do not necessarily represent amounts that might ultimately be realized. Further, due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed, and the differences could be material.
18

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The following table summarizes the market value of the Fund’s holdings as of March 31, 2026, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3(1) Total
Common Stocks $424,120,501(2) $ — $ — $424,120,501
Rights  —  — 2,652 2,652
Miscellaneous  —  — 0 0
Short-Term Investments:        
Affiliated Fund 813,819  —  — 813,819
Securities Lending Collateral 127,467  —  — 127,467
Total Investments $425,061,787 $ — $2,652 $425,064,439
    
(1) None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.
(2) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended March 31, 2026 is not presented.
B  Investment Transactions and Income— Investment transactions for financial statement purposes are accounted for on trade date. Realized gains and losses are recorded on an identified cost basis and may include proceeds from litigation. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities or, in the case of dividends on certain foreign securities, as soon as the Fund is informed of the ex-dividend date. Non-cash dividends are recorded at the fair value of the securities received. Withholding taxes on foreign dividends, if any, have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received that represent a return of capital are recorded as a reduction of cost of investments. Distributions received that represent a capital gain are recorded as a realized gain. Interest income is accrued as earned.
C  Share Class Accounting— Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based upon the relative net assets of each class to the total net assets of the Fund. Expenses arising in connection with a specific class are charged directly to that class. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer agency fees and expenses on the Statement of Operations, are not allocated to Class R6 shares.
D  Restricted Securities— The Fund may invest in securities that are subject to legal or contractual restrictions on resale. Generally, these securities may only be sold publicly upon registration under the Securities Act of 1933 or in transactions exempt from such registration. Information regarding restricted securities (excluding Rule 144A securities) is included at the end of the Schedule of Investments.
E  Distributions to Shareholders— Distributions to shareholders are recorded by the Fund on ex-dividend date. Distributions from net investment income and distributions from net realized capital gains, if any, are paid at least annually. Distributions are declared separately for each class of shares. Distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP; accordingly, periodic reclassifications are made within the Fund's capital accounts to reflect income and gains available for distribution under income tax regulations.
F  Estimates— The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
G  Indemnifications— The Corporation’s By-Laws provide for indemnification for Directors or officers of the Corporation and certain other parties, to the fullest extent permitted by Maryland law and the 1940 Act, provided certain conditions are met. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.
H  Federal and Other Taxes— No provision for federal income or excise tax is required since the Fund intends to continue to qualify as a regulated investment company under the Internal Revenue Code and to distribute substantially all of its taxable earnings. Management has analyzed the Fund's tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Fund's financial statements. A Fund's federal tax return is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.
I  Segment Reporting— The Fund operates as a single reportable segment, an investment company whose investment objective(s) is included in Note 1. The Fund’s President acts as the Fund's Chief Operating Decision Maker (CODM), who is responsible for assessing the performance of the Fund's single segment and deciding how to allocate the segment’s resources. To perform this function, the CODM reviews the information in the Fund’s financial statements.
19

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

J  Interim Financial Statements— The interim financial statements relating to March 31, 2026 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund's management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.
2  Related Party Transactions
The investment advisory fee is earned by Calvert Research and Management (CRM), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Fund. The investment advisory fee is computed at the annual rate of 0.12% of the Fund's average daily net assets and is payable monthly. For the six months ended March 31, 2026, the investment advisory fee amounted to $263,033.
The Fund may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the “Liquidity Fund”), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment advisory fee paid by the Fund is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the six months ended March 31, 2026, the investment advisory fee paid was reduced by $518 relating to the Fund’s investment in the Liquidity Fund.
CRM has agreed to reimburse the Fund’s operating expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 0.49%, 0.24% and 0.20% for Class A, Class I and Class R6, respectively, of such class’s average daily net assets. The expense reimbursement agreement with CRM may be changed or terminated after February 1, 2027. For the six months ended March 31, 2026, CRM waived and/or reimbursed expenses of $427,146.
The administrative fee is earned by CRM as compensation for administrative services rendered to the Fund. The fee is computed at an annual rate of 0.12% of the Fund’s average daily net assets attributable to Class A, Class I and Class R6 and is payable monthly. For the six months ended March 31, 2026, CRM was paid administrative fees of $263,033.
The Fund has in effect a distribution plan for Class A shares (Class A Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class A Plan, the Fund pays Eaton Vance Distributors, Inc. (EVD), an affiliate of CRM and the Fund’s principal underwriter, a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Class A shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued for the six months ended March 31, 2026 amounted to $88,268 for Class A shares.
The Fund was informed that EVD received $1,459 as its portion of the  sales charge on sales of Class A shares for the six months ended March 31, 2026 and no contingent deferred sales charges paid by Fund shareholders for the same period.
Eaton Vance Management (EVM), an affiliate of CRM, provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended March 31, 2026, sub-transfer agency fees and expenses incurred to EVM amounted to $94,131 and are included in transfer agency fees and expenses on the Statement of Operations.
Each Director of the Fund who is not an employee of CRM or its affiliates receives an annual fee of $250,000, an annual Committee fee ranging from $8,500 to $16,500 depending on the Committee, and may receive a fee of $10,000 for special meetings. The Board chair receives an additional $75,000 ($55,000 prior to January 1, 2026) annual fee, Committee chairs receive an additional $20,000 annual fee and the special equities liaison receives an additional $2,500 annual fee. Eligible Directors may participate in a Deferred Compensation Plan (the Plan). Amounts deferred under the Plan are treated as though equal dollar amounts had been invested in shares of the Fund or other Calvert funds selected by the Directors. The Fund purchases shares of the funds selected equal to the dollar amounts deferred under the Plan, resulting in an asset equal to the deferred compensation liability. Obligations of the Plan are paid solely from the Fund's assets. Directors’ fees are allocated to each of the Calvert funds served. Salaries and fees of officers and Directors of the Fund who are employees of CRM or its affiliates are paid by CRM.
3  Investment Activity
During the six months ended March 31, 2026, the cost of purchases and proceeds from sales of investments, other than short-term securities, were $23,059,020 and $48,962,822, respectively.
20

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

4  Distributions to Shareholders and Income Tax Information
The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2026, as determined on a federal income tax basis, were as follows:
Aggregate cost $325,527,999
Gross unrealized appreciation $132,138,365
Gross unrealized depreciation (32,601,925)
Net unrealized appreciation $99,536,440
5  Securities Lending
To generate additional income, the Fund may lend its securities pursuant to a securities lending agency agreement with State Street Bank and Trust Company (SSBT), the securities lending agent. Security loans are subject to termination by the Fund at any time and, therefore, are not considered illiquid investments. The Fund requires that the loan be continuously collateralized by either cash or securities in an amount at least equal to the market value of the securities on loan. The market value of securities loaned is determined daily and any additional required collateral is delivered to the Fund on the next business day. Cash collateral is generally invested in a money market fund registered under the 1940 Act that is managed by an affiliate of SSBT. Any gain or loss in the market price of the loaned securities that might occur and any interest earned or dividends declared during the term of the loan would accrue to the account of the Fund. Income earned on the investment of collateral, net of broker rebates and other expenses incurred by the securities lending agent, is split between the Fund and the securities lending agent based on agreed upon contractual terms. Non-cash collateral, if any, is held by the lending agent on behalf of the Fund and cannot be sold or re-pledged by the Fund; accordingly, such collateral is not reflected in the Statement of Assets and Liabilities.
The risks associated with lending portfolio securities include, but are not limited to, possible delays in receiving additional collateral or in the recovery of the loaned securities, possible loss of rights to the collateral should the borrower fail financially, as well as risk of loss in the value of the collateral or the value of the investments made with the collateral. The securities lending agent shall indemnify the Fund in the case of default of any securities borrower.
At March 31, 2026, the total value of securities on loan was $1,491,826 and the total value of collateral received was $1,472,171, comprised of cash of $127,467 and U.S. government and/or agencies securities of $1,344,704.
The following table provides a breakdown of securities lending transactions accounted for as secured borrowings, the obligations by class of collateral pledged, and the remaining contractual maturity of those transactions as of March 31, 2026.
  Remaining Contractual Maturity of the Transactions
  Overnight and
Continuous
<30 days 30 to 90 days >90 days Total
Common Stocks $127,467 $ — $ — $ — $127,467
The carrying amount of the liability for deposits for securities loaned at March 31, 2026 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 1A) at March 31, 2026.
6  Line of Credit
The Fund participates with other portfolios and funds managed by EVM and its affiliates, including CRM, in a $650 million unsecured revolving line of credit agreement with a group of banks, which is in effect through October 20, 2026. Borrowings are made by the Fund solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Fund based on its borrowings generally at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. In connection with the renewal of the agreement in October 2025, an arrangement fee of $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time.
The Fund had no borrowings outstanding pursuant to its line of credit at March 31, 2026. The Fund did not have any significant borrowings or allocated fees during the six months ended March 31, 2026.
21

 

Table of Contents
Calvert
US Mid-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

7  Affiliated Investments
At March 31, 2026, the value of the Fund’s investment in funds that may be deemed to be affiliated was $813,819, which represents 0.2% of the Fund’s net assets. Transactions in such investments by the Fund for the six months ended March 31, 2026 were as follows:
Name Value,
beginning
of period
Purchases Sales
proceeds
Net
realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Value,
end of
period
Dividend
income
Shares,
end of
period
Short-Term Investments            
Liquidity Fund $515,983 $27,274,563 $(26,976,727) $ — $ — $813,819 $13,643 813,819
8  Capital Shares
The Corporation may issue its shares in one or more series (such as the Fund). The authorized shares of the Fund consist of 75,000,000 common shares, $0.01 par value, for each Class.
Transactions in capital shares were as follows:
  Six Months Ended
March 31, 2026
(Unaudited)
  Year Ended
September 30, 2025
  Shares Amount   Shares Amount
Class A          
Shares sold 196,453 $8,698,375   531,389 $22,056,953
Reinvestment of distributions 60,965 2,683,691   12,463 540,038
Shares redeemed (213,599) (9,468,718)   (597,677) (24,677,416)
Net increase (decrease) 43,819 $1,913,348   (53,825) $(2,080,425)
Class I          
Shares sold 553,505 $24,803,090   1,732,497 $72,921,025
Reinvestment of distributions 251,360 11,177,967   72,028 3,150,499
Shares redeemed (918,026) (41,057,686)   (2,926,707) (122,659,016)
Net decrease (113,161) $(5,076,629)   (1,122,182) $(46,587,492)
Class R6          
Shares sold 134,034 $5,960,529   511,075 $21,694,419
Reinvestment of distributions 39,219 1,740,529   10,360 452,315
Shares redeemed (304,797) (13,674,718)   (642,123) (27,586,116)
Net decrease (131,544) $(5,973,660)   (120,688) $(5,439,382)
22

 

Table of Contents
CMJAX-NCSR 3.31.26



Calvert
US Large-Cap Core Responsible Index Fund
Semi-Annual Financial Statements and
Additional Information
March 31, 2026


 

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the prospectus and/or statement of additional information, which can be obtained by calling 1-800-368-2745 or from a financial intermediary. Prospective investors should read the prospectus carefully before investing.

 

Semi-Annual Financial Statements and Additional Information March 31, 2026
Calvert
US Large-Cap Core Responsible Index Fund
Table of Contents  
Items 6 and 7 of Form N-CSR:  
Schedule of Investments 1
Statement of Assets and Liabilities 13
Statement of Operations 15
Statements of Changes in Net Assets 16
Financial Highlights 17
Notes to Financial Statements 21
Items 8, 9 and 11 of Form N-CSR are Not Applicable. For Item 10 of Form N-CSR, see Item 7.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited)

Common Stocks — 99.8%
    
Security Shares Value
Aerospace & Defense — 1.4%  
ATI, Inc.(1)      36,058 $    5,244,997
Axon Enterprise, Inc.(1)      10,420      4,425,270
Carpenter Technology Corp.      12,675      4,995,851
Curtiss-Wright Corp.       5,226      3,559,533
FTAI Aviation Ltd.      13,020      3,189,900
General Electric Co.     123,375     35,010,124
HEICO Corp.      14,355      3,936,141
Howmet Aerospace, Inc.      56,081     12,924,427
Loar Holdings, Inc.(1)   6,000 343,740
Moog, Inc., Class A   4,502 1,317,465
Woodward, Inc.   7,808 2,794,639
      $77,742,087
Air Freight & Logistics — 0.7%  
C.H. Robinson Worldwide, Inc.   33,110 $5,498,578
Expeditors International of Washington, Inc.   38,687 5,541,139
FedEx Corp.   42,888 15,275,848
GXO Logistics, Inc.(1)   14,264 739,588
United Parcel Service, Inc., Class B   145,559 14,320,094
      $41,375,247
Automobile Components — 0.2%  
Aptiv PLC(1)   60,640 $4,210,842
Autoliv, Inc.   19,275 2,026,959
BorgWarner, Inc.   58,795 3,190,217
Lear Corp.   14,767 1,787,988
      $11,216,006
Automobiles — 0.5%  
Ford Motor Co.   991,091 $11,437,190
General Motors Co.   194,453 14,486,749
Rivian Automotive, Inc., Class A(1)   206,500 3,107,825
      $29,031,764
Banks — 4.6%  
Bank of America Corp.   848,457 $41,362,279
Bank OZK   12,536 575,277
BOK Financial Corp.   2,833 362,794
Citigroup, Inc.   225,763 25,603,782
Citizens Financial Group, Inc.   58,212 3,490,974
Columbia Banking System, Inc.   29,267 802,794
Commerce Bancshares, Inc.   11,940 587,448
Cullen/Frost Bankers, Inc.   5,487 752,158
East West Bancorp, Inc.   19,690 2,102,104
F.N.B. Corp.   52,079 870,761
Fifth Third Bancorp   114,497 5,319,531
First Citizens Bancshares, Inc., Class A   1,028 1,937,430
First Financial Bankshares, Inc.   19,359 570,123
Security Shares Value
Banks (continued)  
First Horizon Corp.      53,533 $    1,218,411
Flagstar Bank NA      50,000        658,500
Glacier Bancorp, Inc.      15,847        707,885
Hancock Whitney Corp.      11,864        754,432
Home BancShares, Inc.      22,755        612,792
Huntington Bancshares, Inc.     242,512      3,795,313
JPMorgan Chase & Co.     279,981     82,359,211
KeyCorp     109,402      2,193,510
M&T Bank Corp.   19,415 4,013,469
Old National Bancorp   43,636 964,356
Pinnacle Financial Partners, Inc.   19,574 1,686,104
PNC Financial Services Group, Inc.   49,237 10,245,727
Popular, Inc.   9,320 1,250,464
Regions Financial Corp.   119,718 3,127,034
SouthState Bank Corp.   12,620 1,167,602
Truist Financial Corp.   156,439 7,191,501
U.S. Bancorp   204,110 10,615,761
UMB Financial Corp.   10,211 1,151,699
United Bankshares, Inc.   19,479 806,820
Valley National Bancorp   67,975 834,733
Webster Financial Corp.   24,164 1,677,465
Wells Fargo & Co.   398,137 31,695,687
Western Alliance Bancorp   14,818 1,049,855
Wintrust Financial Corp.   6,820 947,571
Zions Bancorp NA   19,408 1,118,289
      $256,181,646
Beverages — 1.5%  
Celsius Holdings, Inc.(1)   23,787 $843,963
Coca-Cola Co.   470,410 35,774,680
Coca-Cola Consolidated, Inc.   8,850 1,696,899
Keurig Dr. Pepper, Inc.   190,665 5,020,209
Molson Coors Beverage Co., Class B   23,568 1,014,838
Monster Beverage Corp.(1)   104,869 7,598,808
PepsiCo, Inc.   179,061 27,806,383
Primo Brands Corp., Class A   43,778 824,340
      $80,580,120
Biotechnology — 2.6%  
AbbVie, Inc.   203,259 $44,206,800
Alkermes PLC(1)   20,856 737,468
Alnylam Pharmaceuticals, Inc.(1)   14,824 4,904,817
Amgen, Inc.   64,765 22,787,565
Biogen, Inc.(1)   16,390 3,004,779
BioMarin Pharmaceutical, Inc.(1)   23,428 1,323,448
Exelixis, Inc.(1)   28,125 1,206,281
Gilead Sciences, Inc.   146,798 20,459,237
Halozyme Therapeutics, Inc.(1)   13,274 857,899
Incyte Corp.(1)   16,279 1,532,179
Insmed, Inc.(1)   23,035 3,766,683
Ionis Pharmaceuticals, Inc.(1)   19,122 1,435,871
 
1
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Biotechnology (continued)  
Madrigal Pharmaceuticals, Inc.(1)       2,333 $    1,221,255
Moderna, Inc.(1)      43,220      2,195,576
Natera, Inc.(1)      15,806      3,161,042
Neurocrine Biosciences, Inc.(1)      11,567      1,523,837
Regeneron Pharmaceuticals, Inc.      12,316      9,515,834
Revolution Medicines, Inc.(1)      17,907      1,741,456
Roivant Sciences Ltd.(1)      53,909      1,493,279
United Therapeutics Corp.(1)       4,301      2,550,407
Vertex Pharmaceuticals, Inc.(1)   29,638 13,234,553
      $142,860,266
Broadline Retail — 3.7%  
Amazon.com, Inc.(1)   949,194 $197,688,634
eBay, Inc.   49,532 4,508,402
Etsy, Inc.(1)   6,808 340,264
Ollie's Bargain Outlet Holdings, Inc.(1)   7,116 654,957
      $203,192,257
Building Products — 1.0%  
A.O. Smith Corp.   16,483 $1,086,889
AAON, Inc.(2)   8,903 736,723
Advanced Drainage Systems, Inc.   9,669 1,325,910
Allegion PLC   11,900 1,728,951
Armstrong World Industries, Inc.   5,039 830,427
Builders FirstSource, Inc.(1)   9,834 809,633
Carlisle Cos., Inc.   11,013 3,674,157
Carrier Global Corp.   104,976 5,911,199
CSW Industrials, Inc.   2,596 676,466
Fortune Brands Innovations, Inc.   17,279 673,363
Johnson Controls International PLC   85,877 11,245,593
Lennox International, Inc.   4,540 2,107,150
Masco Corp.   23,254 1,403,844
Modine Manufacturing Co.(1)   13,447 2,914,099
Owens Corning   23,472 2,540,140
Simpson Manufacturing Co., Inc.   5,298 909,243
Trane Technologies PLC   31,177 12,992,703
Trex Co., Inc.(1)   14,931 543,787
UFP Industries, Inc.   5,762 530,795
Zurn Elkay Water Solutions Corp., Class C   20,000 896,800
      $53,537,872
Capital Markets — 3.9%  
Affiliated Managers Group, Inc.   2,531 $700,328
Ameriprise Financial, Inc.   11,637 5,171,483
Ares Management Corp., Class A   26,631 2,905,442
Bank of New York Mellon Corp.   90,267 10,708,374
Blackrock, Inc.   18,473 17,765,669
Blackstone, Inc.   96,612 11,109,414
Blue Owl Capital, Inc.   64,997 593,423
Carlyle Group, Inc.   34,459 1,667,471
Cboe Global Markets, Inc.   13,736 3,860,777
Security Shares Value
Capital Markets (continued)  
Charles Schwab Corp.     214,827 $   20,189,441
CME Group, Inc.      46,842     13,834,785
Coinbase Global, Inc., Class A(1)      27,864      4,865,333
Evercore, Inc., Class A       4,069      1,214,637
FactSet Research Systems, Inc.       4,345        942,821
Franklin Resources, Inc.      47,893      1,131,233
Goldman Sachs Group, Inc.      37,637     31,840,526
Hamilton Lane, Inc., Class A       6,000        596,400
Houlihan Lokey, Inc.   5,887 845,491
Interactive Brokers Group, Inc., Class A   56,904 3,816,551
Intercontinental Exchange, Inc.   73,496 11,559,451
Invesco Ltd.   58,955 1,432,017
Janus Henderson Group PLC   19,013 976,698
Jefferies Financial Group, Inc.   19,258 794,778
KKR & Co., Inc.   89,741 8,301,042
LPL Financial Holdings, Inc.   10,812 3,252,574
MarketAxess Holdings, Inc.   4,905 809,227
Moody's Corp.   19,041 8,306,636
Morningstar, Inc.   3,966 670,452
MSCI, Inc.   8,393 4,523,911
Nasdaq, Inc.   56,368 4,785,079
Northern Trust Corp.   25,730 3,591,136
PJT Partners, Inc., Class A   4,000 558,880
Raymond James Financial, Inc.   24,578 3,558,649
S&P Global, Inc.   36,021 15,321,172
SEI Investments Co.   14,768 1,158,845
State Street Corp.   37,053 4,689,428
Stifel Financial Corp.   17,796 1,315,480
T. Rowe Price Group, Inc.   30,454 2,745,124
TPG, Inc.   15,316 620,451
Tradeweb Markets, Inc., Class A   12,603 1,482,869
Virtu Financial, Inc., Class A   15,000 659,700
      $214,873,198
Chemicals — 1.3%  
Air Products and Chemicals, Inc.   30,155 $8,759,726
Axalta Coating Systems Ltd.(1)   33,822 936,869
Balchem Corp.   2,834 480,306
Celanese Corp.   15,697 1,032,392
Eastman Chemical Co.   11,720 894,470
Ecolab, Inc.   34,122 9,077,134
Element Solutions, Inc.   26,684 910,992
FMC Corp.   23,761 409,164
International Flavors & Fragrances, Inc.   36,918 2,678,401
Linde PLC   60,394 29,940,930
Mosaic Co.   38,544 982,872
PPG Industries, Inc.   32,608 3,485,143
RPM International, Inc.   19,497 1,938,002
Sherwin-Williams Co.   31,599 10,129,060
      $71,655,461
 
2
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Commercial Services & Supplies — 0.6%  
Casella Waste Systems, Inc., Class A(1)       8,277 $      656,697
Cintas Corp.      34,544      5,842,772
Clean Harbors, Inc.(1)       6,088      1,745,612
Copart, Inc.(1)     109,127      3,623,017
MSA Safety, Inc.       4,618        757,121
Republic Services, Inc.      24,122      5,283,201
Tetra Tech, Inc.      39,920      1,202,390
Veralto Corp.      32,881      2,907,338
Waste Management, Inc.   50,747 11,661,153
      $33,679,301
Communications Equipment — 1.2%  
Arista Networks, Inc.(1)   115,748 $14,211,540
Ciena Corp.(1)   14,648 5,686,793
Cisco Systems, Inc.   438,154 33,996,369
F5, Inc.(1)   6,015 1,740,320
Lumentum Holdings, Inc.(1)   7,019 4,932,672
Motorola Solutions, Inc.   18,072 7,842,706
      $68,410,400
Construction & Engineering — 0.5%  
AECOM   16,411 $1,391,981
Comfort Systems USA, Inc.   4,371 6,027,565
Dycom Industries, Inc.(1)   3,969 1,344,777
EMCOR Group, Inc.   5,942 4,387,038
IES Holdings, Inc.(1)   556 264,918
MasTec, Inc.(1)   6,552 2,108,041
Quanta Services, Inc.   18,915 10,384,713
Sterling Infrastructure, Inc.(1)   4,037 1,644,149
Valmont Industries, Inc.   2,083 832,304
WillScot Holdings Corp.   19,834 344,318
      $28,729,804
Construction Materials — 0.5%  
CRH PLC   138,818 $14,592,548
Knife River Corp.(1)   17,267 1,409,851
Vulcan Materials Co.   36,561 9,955,560
      $25,957,959
Consumer Finance — 0.8%  
Ally Financial, Inc.   45,898 $1,800,578
American Express Co.   69,313 20,965,796
Capital One Financial Corp.   78,580 14,335,349
Credit Acceptance Corp.(1)   584 247,301
FirstCash Holdings, Inc.   5,630 1,058,440
OneMain Holdings, Inc.   16,018 856,803
SLM Corp.   22,631 484,530
SoFi Technologies, Inc.(1)   169,402 2,690,104
Synchrony Financial   49,302 3,353,522
      $45,792,423
Security Shares Value
Consumer Staples Distribution & Retail — 2.5%  
Albertsons Cos., Inc., Class A      56,555 $      963,697
BJ's Wholesale Club Holdings, Inc.(1)      10,355      1,019,139
Casey's General Stores, Inc.       5,604      4,078,928
Costco Wholesale Corp.      45,710     45,546,815
Dollar General Corp.      23,614      2,803,690
Dollar Tree, Inc.(1)      20,845      2,282,736
Kroger Co.      99,406      7,193,018
Maplebear, Inc.(1)      28,383      1,063,227
Performance Food Group Co.(1)   25,075 2,147,925
Sprouts Farmers Market, Inc.(1)   17,485 1,348,618
Sysco Corp.   72,473 5,169,499
Target Corp.   45,755 5,545,506
U.S. Foods Holding Corp.(1)   32,704 3,015,636
Walmart, Inc.   449,196 55,826,079
      $138,004,513
Containers & Packaging — 0.3%  
Amcor PLC   66,610 $2,647,748
AptarGroup, Inc.   8,864 1,117,041
Avery Dennison Corp.   9,370 1,618,012
Ball Corp.   32,643 1,929,528
Crown Holdings, Inc.   16,049 1,608,912
Graphic Packaging Holding Co.   54,728 543,996
International Paper Co.   74,556 2,661,649
Packaging Corp. of America   11,084 2,352,246
Sealed Air Corp.   15,377 646,603
Silgan Holdings, Inc.   7,723 299,652
Smurfit Westrock PLC   66,410 2,646,439
      $18,071,826
Distributors — 0.1%  
Genuine Parts Co.   13,567 $1,434,710
LKQ Corp.   29,890 877,869
Pool Corp.   2,926 592,018
      $2,904,597
Diversified Consumer Services — 0.1%  
ADT, Inc.   75,589 $496,620
Bright Horizons Family Solutions, Inc.(1)   8,169 670,920
Covista, Inc.(1)   4,645 535,336
Duolingo, Inc.(1)   5,178 510,396
H&R Block, Inc.   13,245 420,396
Service Corp. International   19,420 1,602,344
Stride, Inc.(1)   7,102 626,183
      $4,862,195
Diversified REITs — 0.0%  
Essential Properties Realty Trust, Inc.   21,831 $662,789
W.P. Carey, Inc.   30,578 2,078,081
      $2,740,870
 
3
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Diversified Telecommunication Services — 1.0%  
AT&T, Inc.     767,816 $   22,258,986
Comcast Corp., Class A     396,761     11,391,008
Verizon Communications, Inc.     469,912    23,589,583
      $   57,239,577
Electric Utilities — 1.1%  
Alliant Energy Corp.      31,376 $    2,251,542
Constellation Energy Corp.      42,418     11,845,227
Evergy, Inc.      27,382      2,243,133
Eversource Energy   49,680 3,441,830
Exelon Corp.   127,052 6,228,089
IDACORP, Inc.   8,719 1,246,555
NextEra Energy, Inc.   260,095 24,157,624
NRG Energy, Inc.   25,261 3,691,643
Portland General Electric Co.   12,060 636,406
TXNM Energy, Inc.   11,452 669,484
Xcel Energy, Inc.   78,717 6,253,278
      $62,664,811
Electrical Equipment — 1.7%  
Acuity, Inc.   3,937 $1,103,226
AMETEK, Inc.   30,954 6,635,299
Eaton Corp. PLC   52,998 18,955,795
Emerson Electric Co.   76,565 10,031,546
GE Vernova, Inc.   33,771 29,478,706
Generac Holdings, Inc.(1)   8,001 1,562,835
Hubbell, Inc.   7,872 3,863,105
Nextpower, Inc., Class A(1)   21,434 2,583,869
nVent Electric PLC   21,896 2,589,859
Regal Rexnord Corp.   8,971 1,679,910
Rockwell Automation, Inc.   15,115 5,424,471
Vertiv Holdings Co., Class A   51,368 12,871,794
      $96,780,415
Electronic Equipment, Instruments & Components — 1.3%  
Amphenol Corp., Class A   169,741 $21,446,775
Arrow Electronics, Inc.(1)   6,623 949,804
Badger Meter, Inc.   3,328 507,021
CDW Corp.   14,450 1,748,739
Cognex Corp.   22,328 1,093,849
Coherent Corp.(1)   20,447 4,870,680
Corning, Inc.   86,859 11,810,218
Flex Ltd.(1)   40,259 2,635,354
Itron, Inc.(1)   7,290 653,403
Jabil, Inc.   11,317 3,006,135
Keysight Technologies, Inc.(1)   24,192 6,831,095
Littelfuse, Inc.   2,562 869,415
Ralliant Corp.   18,802 781,975
TD SYNNEX Corp.   8,146 1,374,312
TE Connectivity PLC   42,035 8,786,156
Security Shares Value
Electronic Equipment, Instruments & Components (continued)  
Teledyne Technologies, Inc.(1)       6,032 $    3,649,420
Vontier Corp.      19,585        694,680
Zebra Technologies Corp., Class A(1)       6,550     1,369,474
      $   73,078,505
Energy Equipment & Services — 0.2%  
Baker Hughes Co.     227,439 $   13,885,151
      $   13,885,151
Entertainment — 1.6%  
Electronic Arts, Inc.   26,121 $5,325,288
Liberty Media Corp.-Liberty Formula One, Class A(1)   31,799 2,482,866
Netflix, Inc.(1)   466,124 44,817,823
Roku, Inc.(1)   15,348 1,452,228
Take-Two Interactive Software, Inc.(1)   20,124 3,974,490
Walt Disney Co.   218,783 21,086,305
Warner Bros. Discovery, Inc.(1)   288,391 7,919,217
Warner Music Group Corp., Class A   19,984 510,391
      $87,568,608
Financial Services — 2.4%  
Affirm Holdings, Inc.(1)   28,675 $1,313,889
Apollo Global Management, Inc.   55,214 6,151,944
Corebridge Financial, Inc.   35,631 850,156
Corpay, Inc.(1)   8,162 2,375,060
Equitable Holdings, Inc.   38,350 1,423,169
Essent Group Ltd.   16,779 980,565
Euronet Worldwide, Inc.(1)   7,279 483,107
Fidelity National Information Services, Inc.   54,543 2,558,612
Fiserv, Inc.(1)   63,038 3,517,520
Jack Henry & Associates, Inc.   8,677 1,371,313
Jackson Financial, Inc., Class A   10,701 1,131,310
Mastercard, Inc., Class A   89,764 44,851,480
MGIC Investment Corp.   22,111 580,414
PayPal Holdings, Inc.   104,845 4,742,139
PennyMac Financial Services, Inc.   1,647 143,948
Shift4 Payments, Inc., Class A(1)   7,065 308,952
Toast, Inc., Class A(1)   55,571 1,473,187
Visa, Inc., Class A   184,634 55,803,780
Voya Financial, Inc.   12,965 885,769
      $130,946,314
Food Products — 0.7%  
Bunge Global SA   18,347 $2,333,739
Campbell's Co.(2)   35,599 792,790
Conagra Brands, Inc.   67,700 1,064,244
Darling Ingredients, Inc.(1)   28,014 1,732,666
General Mills, Inc.   86,015 3,201,478
Hershey Co.   21,336 4,435,541
Hormel Foods Corp.   49,662 1,124,844
 
4
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Food Products (continued)  
Ingredion, Inc.       9,520 $    1,072,523
J.M. Smucker Co.      17,585      1,695,897
Kraft Heinz Co.     139,637      3,140,436
Lamb Weston Holdings, Inc.      23,745      1,003,464
McCormick & Co., Inc.      44,925      2,266,017
Mondelez International, Inc., Class A     197,111     11,361,478
Pilgrim's Pride Corp.      10,000        377,600
Post Holdings, Inc.(1)       8,423       832,698
      $36,435,415
Gas Utilities — 0.0%  
Southwest Gas Holdings, Inc.   11,528 $1,001,783
UGI Corp.   20,163 734,337
      $1,736,120
Ground Transportation — 1.2%  
J.B. Hunt Transport Services, Inc.   21,507 $4,557,333
Knight-Swift Transportation Holdings, Inc.   39,222 2,258,403
Landstar System, Inc.   10,147 1,626,666
Lyft, Inc., Class A(1)   41,912 557,430
Old Dominion Freight Line, Inc.   50,028 9,775,471
Ryder System, Inc.   10,631 2,176,272
Saia, Inc.(1)   8,017 2,816,212
Uber Technologies, Inc.(1)   222,856 16,030,032
Union Pacific Corp.   88,597 21,495,404
XPO, Inc.(1)   32,222 6,268,790
      $67,562,013
Health Care Equipment & Supplies — 2.2%  
Abbott Laboratories   205,722 $21,121,478
Align Technology, Inc.(1)   8,784 1,505,841
Baxter International, Inc.   68,916 1,157,789
Becton Dickinson & Co.   32,923 5,176,483
Boston Scientific Corp.(1)   176,037 11,046,322
Cooper Cos., Inc.(1)   19,831 1,417,917
DexCom, Inc.(1)   45,531 2,859,347
Edwards Lifesciences Corp.(1)   66,857 5,353,909
GE HealthCare Technologies, Inc.   54,284 3,863,935
Glaukos Corp.(1)   6,290 677,181
Globus Medical, Inc., Class A(1)   12,421 1,070,193
Hologic, Inc.(1)   23,929 1,808,793
IDEXX Laboratories, Inc.(1)   8,908 5,005,316
Insulet Corp.(1)   8,612 1,807,142
Intuitive Surgical, Inc.(1)   42,434 19,561,650
Masimo Corp.(1)   5,931 1,054,947
Medtronic PLC   149,523 12,956,168
Merit Medical Systems, Inc.(1)   8,686 598,726
Penumbra, Inc.(1)   5,177 1,699,971
ResMed, Inc.   16,361 3,672,717
STERIS PLC   12,453 2,753,732
Stryker Corp.   42,119 13,839,882
Security Shares Value
Health Care Equipment & Supplies (continued)  
Teleflex, Inc.       5,702 $      682,016
Zimmer Biomet Holdings, Inc.      23,030     2,082,373
      $  122,773,828
Health Care Providers & Services — 1.5%  
Centene Corp.(1)      51,240 $    1,677,598
Chemed Corp.       2,008        758,502
Cigna Group      30,049      8,015,571
CorVel Corp.(1)       6,000        327,900
CVS Health Corp.   150,542 10,811,926
DaVita, Inc.(1)   5,316 817,016
Elevance Health, Inc.   27,155 7,949,626
Encompass Health Corp.   12,962 1,253,814
Ensign Group, Inc.   5,056 1,018,784
Guardant Health, Inc.(1)   15,221 1,405,964
HCA Healthcare, Inc.   17,761 8,405,216
HealthEquity, Inc.(1)   11,570 966,905
Henry Schein, Inc.(1)   15,113 1,113,828
Humana, Inc.   14,984 2,598,076
Labcorp Holdings, Inc.   10,768 2,873,010
Molina Healthcare, Inc.(1)   7,407 987,353
Option Care Health, Inc.(1)   22,841 614,880
Quest Diagnostics, Inc.   11,822 2,316,875
UnitedHealth Group, Inc.   109,038 29,504,592
      $83,417,436
Health Care REITs — 0.5%  
Alexandria Real Estate Equities, Inc.   24,445 $1,134,737
American Healthcare REIT, Inc.   21,745 1,025,494
CareTrust REIT, Inc.   26,214 960,743
Healthcare Realty Trust, Inc.   53,295 905,482
Healthpeak Properties, Inc.   99,240 1,630,513
Omega Healthcare Investors, Inc.   34,847 1,526,996
Ventas, Inc.   56,995 4,661,051
Welltower, Inc.   85,644 16,932,675
      $28,777,691
Health Care Technology — 0.1%  
Veeva Systems, Inc., Class A(1)   16,768 $2,945,467
Waystar Holding Corp.(1)   14,000 337,540
      $3,283,007
Hotel & Resort REITs — 0.0%  
Host Hotels & Resorts, Inc.   98,442 $1,886,149
Ryman Hospitality Properties, Inc.   8,211 757,629
      $2,643,778
Hotels, Restaurants & Leisure — 1.6%  
Airbnb, Inc., Class A(1)   46,327 $5,850,174
Aramark   39,856 1,615,762
 
5
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Hotels, Restaurants & Leisure (continued)  
Booking Holdings, Inc.       3,454 $   14,542,445
Brinker International, Inc.(1)       7,485      1,068,633
Cava Group, Inc.(1)      12,421      1,004,859
Chipotle Mexican Grill, Inc.(1)     209,428      6,703,790
Choice Hotels International, Inc.       3,713        384,296
Darden Restaurants, Inc.      19,063      3,737,111
Domino's Pizza, Inc.       4,685      1,680,931
DoorDash, Inc., Class A(1)      37,207      5,586,631
Hilton Worldwide Holdings, Inc.   27,589 8,389,263
Hyatt Hotels Corp., Class A   5,006 719,813
Life Time Group Holdings, Inc.(1)   17,000 457,980
Marriott International, Inc., Class A   27,007 8,833,180
Planet Fitness, Inc., Class A(1)   12,440 925,287
Shake Shack, Inc., Class A(1)   6,544 578,948
Starbucks Corp.   175,992 15,767,123
Texas Roadhouse, Inc.   9,788 1,616,390
Vail Resorts, Inc.(2)   3,170 406,774
Wingstop, Inc.   4,983 772,216
Wyndham Hotels & Resorts, Inc.   11,818 959,976
Yum! Brands, Inc.   43,087 6,699,167
      $88,300,749
Household Durables — 0.3%  
D.R. Horton, Inc.   33,159 $4,550,078
Lennar Corp., Class A   30,120 2,615,621
NVR, Inc.(1)   349 2,299,851
PulteGroup, Inc.   22,818 2,683,625
Somnigroup International, Inc.   18,642 1,378,017
Taylor Morrison Home Corp.(1)   8,999 524,102
Toll Brothers, Inc.   10,348 1,412,191
TopBuild Corp.(1)   3,172 1,114,323
      $16,577,808
Household Products — 0.9%  
Church & Dwight Co., Inc.   21,950 $2,048,374
Clorox Co.   10,221 1,059,202
Colgate-Palmolive Co.   83,183 7,089,687
Kimberly-Clark Corp.   36,418 3,513,245
Procter & Gamble Co.   240,284 34,706,621
      $48,417,129
Independent Power and Renewable Electricity Producers — 0.0%  
AES Corp.   87,131 $1,227,676
Brookfield Renewable Corp.   15,670 624,136
Clearway Energy, Inc., Class C   4,146 162,896
      $2,014,708
Industrial REITs — 0.4%  
Americold Realty Trust, Inc.   40,080 $459,317
EastGroup Properties, Inc.   6,746 1,248,617
Security Shares Value
Industrial REITs (continued)  
First Industrial Realty Trust, Inc.      18,637 $    1,078,150
Lineage, Inc.(2)      10,000        327,600
Prologis, Inc.     115,667     15,288,864
Rexford Industrial Realty, Inc.      30,750      1,006,448
STAG Industrial, Inc.      25,716        927,319
Terreno Realty Corp.      13,401       823,089
      $   21,159,404
Insurance — 2.0%  
Aflac, Inc.   59,117 $6,485,726
American Financial Group, Inc.   8,443 1,078,256
American International Group, Inc.   68,252 5,135,963
Aon PLC, Class A   27,283 8,806,407
Arch Capital Group Ltd.(1)   44,535 4,274,915
Arthur J. Gallagher & Co.   32,528 7,044,914
Assurant, Inc.   6,570 1,431,012
Axis Capital Holdings Ltd.   11,680 1,184,469
Brown & Brown, Inc.   32,734 2,134,584
Cincinnati Financial Corp.   19,598 3,083,745
Everest Group Ltd.   6,034 1,972,213
First American Financial Corp.   12,153 732,704
Hanover Insurance Group, Inc.   4,418 765,860
Hartford Insurance Group, Inc.   34,880 4,716,822
Kinsale Capital Group, Inc.   3,254 1,111,762
Markel Group, Inc.(1)   1,632 3,123,762
Marsh & McLennan Cos., Inc.   61,287 10,630,230
MetLife, Inc.   74,617 5,276,914
Old Republic International Corp.   26,730 1,066,527
Primerica, Inc.   3,682 922,267
Principal Financial Group, Inc.   29,433 2,652,208
Progressive Corp.   75,986 15,063,465
Prudential Financial, Inc.   46,081 4,501,653
Reinsurance Group of America, Inc.   8,453 1,725,765
RenaissanceRe Holdings Ltd.   4,793 1,424,623
RLI Corp.   10,978 626,185
Ryan Specialty Holdings, Inc.   18,176 613,258
Travelers Cos., Inc.   28,209 8,228,001
Unum Group   18,189 1,328,343
W.R. Berkley Corp.   38,039 2,521,225
Willis Towers Watson PLC   12,732 3,701,192
      $113,364,970
Interactive Media & Services — 5.4%  
Alphabet, Inc., Class A   1,037,820 $298,435,519
Pinterest, Inc., Class A(1)   74,626 1,368,641
Reddit, Inc., Class A(1)   14,134 1,903,143
Snap, Inc., Class A(1)   139,856 643,338
      $302,350,641
IT Services — 1.2%  
Accenture PLC, Class A   68,255 $13,534,284
 
6
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
IT Services (continued)  
Akamai Technologies, Inc.(1)      14,931 $    1,714,825
Amdocs Ltd.      14,063        917,751
Cloudflare, Inc., Class A(1)      33,210      6,852,552
Cognizant Technology Solutions Corp., Class A      54,834      3,364,066
EPAM Systems, Inc.(1)       4,676        633,130
Gartner, Inc.(1)       9,236      1,462,428
GoDaddy, Inc., Class A(1)      16,929      1,399,521
International Business Machines Corp.     103,098     24,989,924
Kyndryl Holdings, Inc.(1)   27,703 363,463
MongoDB, Inc.(1)   8,773 2,147,367
Snowflake, Inc., Class A(1)   34,696 5,232,851
Twilio, Inc., Class A(1)   17,506 2,202,605
VeriSign, Inc.   9,083 2,255,854
      $67,070,621
Leisure Products — 0.0%  
Hasbro, Inc.   15,358 $1,437,509
Mattel, Inc.(1)   20,208 293,622
      $1,731,131
Life Sciences Tools & Services — 1.1%  
Agilent Technologies, Inc.   30,846 $3,515,827
Avantor, Inc.(1)   94,362 739,798
Bio-Rad Laboratories, Inc., Class A(1)   2,262 630,532
Bio-Techne Corp.   18,380 960,539
Bruker Corp.   10,235 369,688
Charles River Laboratories International, Inc.(1)   4,527 780,907
Danaher Corp.   76,246 14,456,242
Illumina, Inc.(1)   15,953 1,966,367
IQVIA Holdings, Inc.(1)   21,577 3,679,741
Medpace Holdings, Inc.(1)   3,135 1,505,396
Mettler-Toledo International, Inc.(1)   2,450 3,089,940
Repligen Corp.(1)   4,645 547,274
Revvity, Inc.   13,808 1,209,719
Thermo Fisher Scientific, Inc.   44,673 21,958,120
Waters Corp.(1)   11,656 3,471,157
West Pharmaceutical Services, Inc.   9,560 2,396,118
      $61,277,365
Machinery — 3.0%  
AGCO Corp.   9,698 $1,123,707
Allison Transmission Holdings, Inc.   10,686 1,250,903
Caterpillar, Inc.   55,209 39,113,368
Chart Industries, Inc.(1)   5,302 1,096,188
CNH Industrial NV   132,634 1,458,974
Cummins, Inc.   18,862 10,148,133
Deere & Co.   34,705 19,549,326
Donaldson Co., Inc.   15,838 1,344,171
Dover Corp.   17,787 3,707,700
ESAB Corp.   6,522 630,417
ESCO Technologies, Inc.   4,015 1,129,701
Security Shares Value
Machinery (continued)  
Federal Signal Corp.       9,577 $    1,035,657
Flowserve Corp.      14,216      1,045,018
Fortive Corp.      44,219      2,444,426
Gates Industrial Corp. PLC(1)      39,632        896,080
Graco, Inc.      23,810      2,015,516
IDEX Corp.      10,928      2,071,402
Illinois Tool Works, Inc.      39,689     10,330,650
Ingersoll Rand, Inc.      56,388      4,517,807
ITT, Inc.   10,717 2,041,910
JBT Marel Corp.   7,989 1,021,553
Lincoln Electric Holdings, Inc.   7,639 1,902,722
Middleby Corp.(1)   8,322 1,103,331
Mueller Industries, Inc.   13,903 1,540,452
Nordson Corp.   6,837 1,819,052
Oshkosh Corp.   8,141 1,198,437
Otis Worldwide Corp.   51,845 3,996,213
PACCAR, Inc.   70,270 8,116,185
Parker-Hannifin Corp.   17,158 15,360,528
Pentair PLC   23,466 2,044,123
RBC Bearings, Inc.(1)   4,696 2,550,492
Snap-on, Inc.   6,963 2,529,101
SPX Technologies, Inc.(1)   5,603 1,120,264
Stanley Black & Decker, Inc.   21,711 1,542,784
Timken Co.   10,680 1,074,088
Toro Co.   14,144 1,321,615
Watts Water Technologies, Inc., Class A   4,503 1,307,176
Westinghouse Air Brake Technologies Corp.   22,482 5,618,477
Xylem, Inc.   34,286 4,097,177
      $166,214,824
Media — 0.2%  
Charter Communications, Inc., Class A(1)   11,038 $2,382,883
Liberty Broadband Corp., Class C(1)   18,039 907,362
New York Times Co., Class A   18,406 1,541,134
Nexstar Media Group, Inc.   2,295 415,005
Omnicom Group, Inc.   40,886 3,079,125
Paramount Skydance Corp., Class B   35,837 323,250
Sirius XM Holdings, Inc.   28,404 655,564
Trade Desk, Inc., Class A(1)   55,116 1,250,582
Versant Media Group, Inc.(1)   16,677 617,383
      $11,172,288
Metals & Mining — 0.4%  
Commercial Metals Co.   28,609 $1,757,451
Nucor Corp.   63,032 10,658,711
Reliance, Inc.   15,101 4,589,496
Steel Dynamics, Inc.   39,502 7,110,360
      $24,116,018
Mortgage REITs — 0.1%  
AGNC Investment Corp.(2)   164,344 $1,648,370
 
7
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Mortgage REITs (continued)  
Annaly Capital Management, Inc.      75,432 $    1,595,387
Rithm Capital Corp.      68,495        649,333
Starwood Property Trust, Inc.      42,268       727,855
      $    4,620,945
Multi-Utilities — 0.8%  
Ameren Corp.      31,784 $    3,493,697
CMS Energy Corp.      37,220      2,887,528
Consolidated Edison, Inc.      43,270      4,897,298
Dominion Energy, Inc.   108,402 6,701,412
DTE Energy Co.   24,412 3,569,523
NiSource, Inc.   57,231 2,670,398
Public Service Enterprise Group, Inc.   62,946 5,095,479
Sempra   82,351 8,002,047
WEC Energy Group, Inc.   39,076 4,523,828
      $41,841,210
Office REITs — 0.1%  
BXP, Inc.   22,161 $1,150,156
COPT Defense Properties   7,468 228,521
Cousins Properties, Inc.   30,071 678,703
Kilroy Realty Corp.   20,000 564,200
Vornado Realty Trust   23,964 622,824
      $3,244,404
Oil, Gas & Consumable Fuels — 0.3%  
CNX Resources Corp.(1)   36,723 $1,415,672
Occidental Petroleum Corp.   198,932 12,930,580
      $14,346,252
Paper & Forest Products — 0.0%  
Louisiana-Pacific Corp.   8,248 $600,042
      $600,042
Passenger Airlines — 0.3%  
Alaska Air Group, Inc.(1)   31,399 $1,154,855
American Airlines Group, Inc.(1)   174,186 1,870,758
Delta Air Lines, Inc.   183,496 12,198,814
Joby Aviation, Inc.(1)   61,167 505,239
      $15,729,666
Personal Care Products — 0.1%  
BellRing Brands, Inc.(1)   15,888 $255,638
e.l.f. Beauty, Inc.(1)   6,136 371,903
Estee Lauder Cos., Inc., Class A   22,278 1,598,892
Kenvue, Inc.   185,533 3,198,589
      $5,425,022
Pharmaceuticals — 2.9%  
Bristol-Myers Squibb Co.   235,543 $14,285,683
Security Shares Value
Pharmaceuticals (continued)  
Corcept Therapeutics, Inc.(1)      12,137 $      489,242
Elanco Animal Health, Inc.(1)      47,586      1,138,733
Eli Lilly & Co.      87,251     80,250,852
Jazz Pharmaceuticals PLC(1)       5,242        991,000
Merck & Co., Inc.     293,017     35,247,015
Pfizer, Inc.     672,937     18,896,071
Royalty Pharma PLC, Class A      44,360      2,127,949
Zoetis, Inc.      50,317     5,947,973
      $159,374,518
Professional Services — 0.5%  
Amentum Holdings, Inc.(1)   13,888 $362,199
Automatic Data Processing, Inc.   44,705 9,083,162
Booz Allen Hamilton Holding Corp.   16,491 1,286,793
Broadridge Financial Solutions, Inc.   13,111 2,130,275
Equifax, Inc.   14,740 2,654,232
ExlService Holdings, Inc.(1)   21,250 647,063
FTI Consulting, Inc.(1)   3,808 673,140
Genpact Ltd.   18,622 693,669
Parsons Corp.(1)   2,630 142,467
Paychex, Inc.   32,778 3,019,509
Paycom Software, Inc.   7,048 856,614
Paylocity Holding Corp.(1)   5,269 569,263
Robert Half, Inc.   8,843 224,612
Science Applications International Corp.   5,120 485,990
SS&C Technologies Holdings, Inc.   27,152 1,834,661
TransUnion   22,499 1,556,706
UL Solutions, Inc., Class A   8,135 697,251
Verisk Analytics, Inc.   17,021 3,229,735
      $30,147,341
Real Estate Management & Development — 0.2%  
CBRE Group, Inc., Class A(1)   37,352 $5,059,702
CoStar Group, Inc.(1)   51,254 2,067,586
Jones Lang LaSalle, Inc.(1)   5,231 1,591,898
Zillow Group, Inc., Class C(1)   22,221 919,505
      $9,638,691
Residential REITs — 0.3%  
AvalonBay Communities, Inc.   16,935 $2,766,332
Camden Property Trust   14,848 1,450,056
Equity LifeStyle Properties, Inc.   25,196 1,572,734
Equity Residential   43,255 2,558,533
Essex Property Trust, Inc.   9,010 2,180,420
Invitation Homes, Inc.   84,060 2,088,891
Mid-America Apartment Communities, Inc.   16,410 2,003,989
Sun Communities, Inc.   17,392 2,190,697
UDR, Inc.   46,335 1,565,196
      $18,376,848
 
8
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Retail REITs — 0.4%  
Brixmor Property Group, Inc.      42,292 $    1,218,010
Federal Realty Investment Trust      11,607      1,232,779
Kimco Realty Corp.      93,381      2,098,271
Kite Realty Group Trust      30,789        755,870
NNN REIT, Inc.      25,723      1,081,138
Phillips Edison & Co., Inc.      17,164        642,277
Realty Income Corp.     113,508      6,944,419
Regency Centers Corp.      25,932      1,962,015
Simon Property Group, Inc.   42,147 7,861,680
      $23,796,459
Semiconductors & Semiconductor Equipment — 14.5%  
Advanced Micro Devices, Inc.(1)   180,782 $36,776,482
Allegro MicroSystems, Inc.(1)   6,519 205,544
Analog Devices, Inc.   53,873 17,139,156
Applied Materials, Inc.   87,070 29,759,655
Broadcom, Inc.   461,288 142,773,249
Cirrus Logic, Inc.(1)   7,380 1,067,295
Enphase Energy, Inc.(1)   16,417 620,727
Entegris, Inc.   17,978 2,107,741
First Solar, Inc.(1)   9,518 1,877,521
Intel Corp.(1)   466,531 20,588,013
KLA Corp.   14,643 21,560,500
Lam Research Corp.   139,527 29,811,339
Lattice Semiconductor Corp.(1)   15,108 1,401,418
MACOM Technology Solutions Holdings, Inc.(1)   7,511 1,667,968
Marvell Technology, Inc.   97,655 9,672,728
Microchip Technology, Inc.   58,302 3,766,892
Micron Technology, Inc.   125,131 42,274,257
MKS, Inc.   8,175 1,878,697
Monolithic Power Systems, Inc.   4,927 5,386,935
NVIDIA Corp.   2,227,011 388,390,718
ON Semiconductor Corp.(1)   47,391 2,934,451
Qorvo, Inc.(1)   11,584 896,602
QUALCOMM, Inc.   116,833 15,045,754
Rambus, Inc.(1)   13,679 1,176,804
Skyworks Solutions, Inc.   20,197 1,081,549
Teradyne, Inc.   17,105 5,070,948
Texas Instruments, Inc.   100,794 19,568,147
Universal Display Corp.   6,342 581,308
      $805,082,398
Software — 8.0%  
ACI Worldwide, Inc.(1)   12,660 $519,187
Adobe, Inc.(1)   46,466 11,294,955
AppFolio, Inc., Class A(1)   3,500 552,370
AppLovin Corp., Class A(1)   24,271 9,659,858
Atlassian Corp., Class A(1)   19,033 1,299,002
Autodesk, Inc.(1)   23,403 5,602,678
Bentley Systems, Inc., Class B   16,578 582,219
Security Shares Value
Software (continued)  
Box, Inc., Class A(1)      17,017 $      402,282
Cadence Design Systems, Inc.(1)      29,839      8,291,363
CCC Intelligent Solutions Holdings, Inc.(1)      65,000        390,000
Clearwater Analytics Holdings, Inc., Class A(1)      29,268        692,188
Commvault Systems, Inc.(1)       5,190        404,249
CrowdStrike Holdings, Inc., Class A(1)      27,590     10,771,412
Datadog, Inc., Class A(1)      35,029      4,135,174
Docusign, Inc.(1)      26,144      1,239,487
Dolby Laboratories, Inc., Class A   6,538 392,672
Dropbox, Inc., Class A(1)   18,546 421,365
Dynatrace, Inc.(1)   39,992 1,478,904
Elastic NV(1)   8,376 418,716
Fair Isaac Corp.(1)   2,971 3,171,661
Fortinet, Inc.(1)   66,649 5,446,556
Gen Digital, Inc.   59,180 1,114,359
Guidewire Software, Inc.(1)   8,545 1,277,990
HubSpot, Inc.(1)   6,345 1,548,815
Intuit, Inc.   29,905 12,930,324
Manhattan Associates, Inc.(1)   6,811 906,680
MARA Holdings, Inc.(1)(2)   38,039 310,398
Microsoft Corp.   703,051 260,248,389
Nutanix, Inc., Class A(1)   29,688 1,128,441
Oracle Corp.   186,629 27,454,992
Palo Alto Networks, Inc.(1)   89,641 14,371,245
PTC, Inc.(1)   11,340 1,615,837
Q2 Holdings, Inc.(1)   7,296 345,101
Qualys, Inc.(1)   4,602 404,286
Roper Technologies, Inc.   11,551 4,087,437
Salesforce, Inc.   98,989 18,478,277
Samsara, Inc., Class A(1)   44,601 1,413,406
SentinelOne, Inc., Class A(1)   22,483 289,581
ServiceNow, Inc.(1)   117,110 12,243,851
SPS Commerce, Inc.(1)   4,586 255,303
Synopsys, Inc.(1)   19,253 7,633,429
Trimble, Inc.(1)   34,815 2,270,982
Tyler Technologies, Inc.(1)   4,951 1,695,123
Varonis Systems, Inc.(1)   13,142 282,159
Workday, Inc., Class A(1)   24,539 3,188,107
Zscaler, Inc.(1)   11,669 1,637,044
      $444,297,854
Specialized REITs — 1.0%  
American Tower Corp.   57,949 $10,000,838
Crown Castle, Inc.   55,657 4,525,471
CubeSmart   31,543 1,156,051
Digital Realty Trust, Inc.   41,972 7,563,774
Equinix, Inc.   12,583 12,334,360
Extra Space Storage, Inc.   25,542 3,349,323
Iron Mountain, Inc.   30,096 3,074,005
Lamar Advertising Co., Class A   12,312 1,559,438
National Storage Affiliates Trust   12,000 452,880
 
9
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Security Shares Value
Specialized REITs (continued)  
Public Storage      20,382 $    5,521,076
SBA Communications Corp.      11,910      2,049,830
Weyerhaeuser Co.      82,826     2,023,439
      $   53,610,485
Specialty Retail — 2.0%  
AutoNation, Inc.(1)       2,563 $      500,451
AutoZone, Inc.(1)       1,674      5,654,404
Bath & Body Works, Inc.      29,800        556,366
Best Buy Co., Inc.   21,455 1,377,411
Boot Barn Holdings, Inc.(1)   2,500 365,900
Burlington Stores, Inc.(1)   6,490 2,111,716
CarMax, Inc.(1)   19,883 826,735
Carvana Co.(1)   12,875 4,047,643
Dick's Sporting Goods, Inc.   5,422 1,075,128
Five Below, Inc.(1)   4,218 963,729
Floor & Decor Holdings, Inc., Class A(1)   12,454 632,663
GameStop Corp., Class A(1)   30,485 702,374
Gap, Inc.   25,901 626,804
Group 1 Automotive, Inc.   1,397 461,890
Home Depot, Inc.   102,351 33,662,220
Lithia Motors, Inc., Class A   1,614 403,048
Lowe's Cos., Inc.   58,897 13,916,183
O'Reilly Automotive, Inc.(1)   83,454 7,703,639
Penske Automotive Group, Inc.   1,776 265,548
Ross Stores, Inc.   31,943 6,919,812
TJX Cos., Inc.   116,282 18,570,236
Tractor Supply Co.   55,318 2,505,905
Ulta Beauty, Inc.(1)   4,554 2,380,421
Urban Outfitters, Inc.(1)   2,413 152,864
Wayfair, Inc., Class A(1)   10,384 780,981
Williams-Sonoma, Inc.   13,156 2,398,734
      $109,562,805
Technology Hardware, Storage & Peripherals — 7.2%  
Apple, Inc.   1,398,510 $354,927,853
Dell Technologies, Inc., Class C   35,037 5,750,623
Everpure, Inc., Class A(1)   33,965 2,005,294
Hewlett Packard Enterprise Co.   146,696 3,492,832
HP, Inc.   109,071 2,095,254
NetApp, Inc.   23,724 2,429,100
Sandisk Corp.(1)   14,988 9,522,476
Seagate Technology Holdings PLC   23,535 9,220,071
Western Digital Corp.   38,027 10,285,923
      $399,729,426
Textiles, Apparel & Luxury Goods — 0.3%  
Crocs, Inc.(1)   7,218 $599,238
Deckers Outdoor Corp.(1)   16,950 1,696,525
lululemon Athletica, Inc.(1)   11,416 1,747,790
NIKE, Inc., Class B   119,739 6,324,614
Security Shares Value
Textiles, Apparel & Luxury Goods (continued)  
Ralph Lauren Corp.       4,524 $    1,556,211
Tapestry, Inc.      22,305      3,147,459
VF Corp.      41,223       700,379
      $   15,772,216
Trading Companies & Distributors — 0.5%  
Air Lease Corp.      17,419 $    1,131,190
Applied Industrial Technologies, Inc.       4,824      1,279,904
Core & Main, Inc., Class A(1)      24,700      1,220,180
Fastenal Co.   112,234 5,207,658
Ferguson Enterprises, Inc.   20,716 4,832,214
GATX Corp.   3,444 588,028
QXO, Inc.(1)   74,283 1,442,576
SiteOne Landscape Supply, Inc.(1)   6,263 833,668
United Rentals, Inc.   8,916 6,495,841
W.W. Grainger, Inc.   4,358 4,753,750
Watsco, Inc.   4,166 1,515,549
WESCO International, Inc.   4,024 1,101,047
      $30,401,605
Water Utilities — 0.1%  
American Water Works Co., Inc.   25,307 $3,444,030
Essential Utilities, Inc.   28,156 1,133,842
      $4,577,872
Wireless Telecommunication Services — 0.2%  
T-Mobile U.S., Inc.   55,080 $11,568,452
      $11,568,452
Total Common Stocks
(identified cost $2,350,806,224)
    $5,545,704,648
    
Rights — 0.0%
    
Security Shares Value
Health Care Equipment & Supplies — 0.0%  
Abiomed, Inc., CVR, Exp. 12/31/29(1)(3)(4)       7,614 $        7,766
Total Rights
(identified cost $7,766)
    $        7,766
    
Miscellaneous — 0.0%
    
Security Shares Value
Software — 0.0%  
Pivotal Software, Inc., Escrow Certificates(1)(3)      16,181 $            0
Total Miscellaneous
(identified cost $0)
    $            0
    
 
10
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Short-Term Investments — 0.1%      
Affiliated Fund — 0.1%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.57%(5)   3,785,582 $    3,785,582
Total Affiliated Fund
(identified cost $3,785,582)
    $    3,785,582
Securities Lending Collateral — 0.0%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 3.68%(6)     321,750 $      321,750
Total Securities Lending Collateral
(identified cost $321,750)
    $      321,750
Total Short-Term Investments
(identified cost $4,107,332)
    $    4,107,332
Total Investments — 99.9%
(identified cost $2,354,921,322)
    $5,549,819,746
Other Assets, Less Liabilities — 0.1%     $    4,142,634
Net Assets — 100.0%     $5,553,962,380
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
Amount is less than 0.05% or (0.05)%, as applicable.
(1) Non-income producing security.
(2) All or a portion of this security was on loan at March 31, 2026. The aggregate market value of securities on loan at March 31, 2026 was $4,180,300.
(3) Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy.
(4) Restricted security. Total market value of restricted securities amounts to $7,766, which represents less than 0.05% of the net assets of the Fund as of March 31, 2026.
(5) May be deemed to be an affiliated investment company (see Note 7). The rate shown is the annualized seven-day yield as of March 31, 2026.
(6) Represents investment of cash collateral received in connection with securities lending.
Restricted Securities
Description Acquisition Date Cost
Abiomed, Inc., CVR, Exp. 12/31/29 12/28/22 $7,766
    $7,766
    
11
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Schedule of Investments (Unaudited) — continued

Abbreviations: 
CVR – Contingent Value Rights
REITs – Real Estate Investment Trusts
12
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited)

  March 31, 2026
Assets  
Investments in securities of unaffiliated issuers, at value (identified cost $2,351,135,740) - including
$4,180,300 of securities on loan
$5,546,034,164
Investments in securities of affiliated issuers, at value (identified cost $3,785,582) 3,785,582
Cash 323
Receivable for capital shares sold 5,635,342
Dividends receivable 3,186,195
Dividends receivable - affiliated 8,906
Securities lending income receivable 3,111
Receivable from affiliates 702,765
Directors' deferred compensation plan 670,751
Total assets $5,560,027,139
Liabilities  
Payable for capital shares redeemed $2,484,766
Deposits for securities loaned 321,750
Payable to affiliates:  
Investment advisory fee 580,234
Administrative fee 580,541
Distribution and service fees 232,179
Sub-transfer agency fee 28,129
Directors' deferred compensation plan 670,751
Payable for accounting fees 561,215
Payable for transfer agency fees and expenses 444,998
Accrued expenses 160,196
Total liabilities $6,064,759
Net Assets $5,553,962,380
Sources of Net Assets  
Paid-in capital $2,227,298,685
Distributable earnings 3,326,663,695
Net Assets $5,553,962,380
Class A Shares   
Net Assets $798,676,280
Shares Outstanding 15,453,140
Net Asset Value and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$51.68
Maximum Offering Price Per Share
(100 ÷ 95.25 of net asset value per share)
$54.26
Class C Shares   
Net Assets $66,129,088
Shares Outstanding 1,374,827
Net Asset Value and Offering Price Per Share*
(net assets ÷ shares of beneficial interest outstanding)
$48.10
13
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Statement of Assets and Liabilities (Unaudited) — continued

  March 31, 2026
Class I Shares   
Net Assets $2,969,424,129
Shares Outstanding 55,731,859
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$53.28
Class R6 Shares   
Net Assets $1,719,732,883
Shares Outstanding 32,330,640
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)
$53.19
    
On sales of $50,000 or more, the offering price of Class A shares is reduced.
* Redemption price per share is equal to the net asset value less any applicable contingent deferred sales charge.
14
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Statement of Operations (Unaudited)

  Six Months Ended
  March 31, 2026
Investment Income  
Dividend income (net of foreign taxes withheld of $3,196) $37,272,978
Dividend income - affiliated issuers 91,816
Interest income 1,634
Securities lending income, net 21,169
Total investment income $37,387,597
Expenses  
Investment advisory fee $3,572,852
Administrative fee 3,572,852
Distribution and service fees:  
Class A 1,067,101
Class C 360,167
Directors' fees and expenses 167,425
Custodian fees 47,360
Transfer agency fees and expenses 1,622,010
Accounting fees 427,689
Professional fees 108,246
Registration fees 55,424
Reports to shareholders 48,277
Miscellaneous 149,718
Total expenses $11,199,121
Waiver and/or reimbursement of expenses by affiliates $(3,044,960)
Net expenses $8,154,161
Net investment income $29,233,436
Realized and Unrealized Gain (Loss)  
Net realized gain (loss):  
Investment securities $182,103,976
Net realized gain $182,103,976
Change in unrealized appreciation (depreciation):  
Investment securities $(309,618,966)
Net change in unrealized appreciation (depreciation) $(309,618,966)
Net realized and unrealized loss $(127,514,990)
Net decrease in net assets from operations $(98,281,554)
15
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Statements of Changes in Net Assets

  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended
September 30,
2025
Increase (Decrease) in Net Assets    
From operations:    
Net investment income $29,233,436 $57,914,555
Net realized gain 182,103,976 248,503,323
Net change in unrealized appreciation (depreciation) (309,618,966) 512,803,351
Net increase (decrease) in net assets from operations $(98,281,554) $819,221,229
Distributions to shareholders:    
Class A $(44,057,505) $(13,323,483)
Class C (3,431,184) (753,566)
Class I (165,993,570) (52,279,909)
Class R6 (98,525,291) (32,557,457)
Total distributions to shareholders $(312,007,550) $(98,914,415)
Capital share transactions:    
Class A $2,347,956 $(78,723,228)
Class C (2,729,906) (10,659,204)
Class I (27,084,155) (149,107,838)
Class R6 (36,602,515) (132,808,929)
Net decrease in net assets from capital share transactions $(64,068,620) $(371,299,199)
Net increase (decrease) in net assets $(474,357,724) $349,007,615
Net Assets    
At beginning of period $6,028,320,104 $5,679,312,489
At end of period $5,553,962,380 $6,028,320,104
16
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights

  Class A
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $55.51 $48.99 $36.30 $30.51 $38.30 $29.75
Income (Loss) From Operations            
Net investment income(1) $0.21 $0.40 $0.36 $0.35 $0.30 $0.28
Net realized and unrealized gain (loss) (1.15) 6.91 12.66 5.74 (7.74) 8.53
Total income (loss) from operations $(0.94) $7.31 $13.02 $6.09 $(7.44) $8.81
Less Distributions            
From net investment income $(0.38) $(0.36) $(0.33) $(0.30) $(0.25) $(0.26)
From net realized gain (2.51) (0.43)  —  — (0.10)  —
Total distributions $(2.89) $(0.79) $(0.33) $(0.30) $(0.35) $(0.26)
Net asset value — End of period $51.68 $55.51 $48.99 $36.30 $30.51 $38.30
Total Return(2) (2.01)%(3) 15.06% 36.07% 20.08% (19.64)% 29.75%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $798,676 $855,549 $835,212 $658,227 $572,693 $686,373
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.60%(5) 0.60% 0.59% 0.60% 0.59% 0.59%
Net expenses 0.49%(5)(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%(6) 0.49%
Net investment income 0.76%(5) 0.79% 0.85% 1.00% 0.82% 0.77%
Portfolio Turnover 2%(3) 8% 12% 8% 13% 10%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
17
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class C
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $51.67 $45.67 $33.89 $28.46 $35.78 $27.82
Income (Loss) From Operations            
Net investment income(1) $0.00(2) $0.02 $0.04 $0.08 $0.02 $0.01
Net realized and unrealized gain (loss) (1.07) 6.44 11.81 5.39 (7.24) 7.98
Total income (loss) from operations $(1.07) $6.46 $11.85 $5.47 $(7.22) $7.99
Less Distributions            
From net investment income $ — $(0.03) $(0.07) $(0.04) $(0.00)(3) $(0.03)
From net realized gain (2.50) (0.43)  —  — (0.10)  —
Total distributions $(2.50) $(0.46) $(0.07) $(0.04) $(0.10) $(0.03)
Net asset value — End of period $48.10 $51.67 $45.67 $33.89 $28.46 $35.78
Total Return(4) (2.37)%(5) 14.22% 35.01% 19.22% (20.24)% 28.73%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $66,129 $73,818 $75,835 $64,695 $63,985 $84,005
Ratios (as a percentage of average daily net assets):(6)            
Total expenses 1.35%(7) 1.35% 1.34% 1.35% 1.35% 1.34%
Net expenses 1.24%(7)(8) 1.24%(8) 1.24%(8) 1.24%(8) 1.24%(8) 1.24%
Net investment income 0.01%(7) 0.05% 0.10% 0.25% 0.07% 0.03%
Portfolio Turnover 2%(5) 8% 12% 8% 13% 10%
    
(1) Computed using average shares outstanding.
(2) Amount is less than $0.005.
(3) Amount is less than $(0.005).
(4) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(5) Not annualized.
(6) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(7) Annualized.
(8) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
18
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class I
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $57.20 $50.43 $37.36 $31.38 $39.37 $30.56
Income (Loss) From Operations            
Net investment income(1) $0.29 $0.54 $0.49 $0.45 $0.40 $0.38
Net realized and unrealized gain (loss) (1.19) 7.13 13.00 5.92 (7.95) 8.75
Total income (loss) from operations $(0.90) $7.67 $13.49 $6.37 $(7.55) $9.13
Less Distributions            
From net investment income $(0.51) $(0.47) $(0.42) $(0.39) $(0.34) $(0.32)
From net realized gain (2.51) (0.43)  —  — (0.10)  —
Total distributions $(3.02) $(0.90) $(0.42) $(0.39) $(0.44) $(0.32)
Net asset value — End of period $53.28 $57.20 $50.43 $37.36 $31.38 $39.37
Total Return(2) (1.89)%(3) 15.37% 36.37% 20.42% (19.45)% 30.07%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $2,969,424 $3,214,802 $2,974,668 $2,251,092 $2,021,486 $2,916,731
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.35%(5) 0.35% 0.34% 0.35% 0.34% 0.34%
Net expenses 0.24%(5)(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%(6) 0.24%
Net investment income 1.01%(5) 1.04% 1.10% 1.25% 1.06% 1.02%
Portfolio Turnover 2%(3) 8% 12% 8% 13% 10%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
19
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Financial Highlights — continued

  Class R6
  Six Months Ended
March 31, 2026
(Unaudited)
Year Ended September 30,
  2025 2024 2023 2022 2021
Net asset value — Beginning of period $57.13 $50.38 $37.32 $31.37 $39.35 $30.55
Income (Loss) From Operations            
Net investment income(1) $0.30 $0.56 $0.51 $0.47 $0.43 $0.39
Net realized and unrealized gain (loss) (1.18) 7.12 13.00 5.90 (7.96) 8.74
Total income (loss) from operations $(0.88) $7.68 $13.51 $6.37 $(7.53) $9.13
Less Distributions            
From net investment income $(0.55) $(0.50) $(0.45) $(0.42) $(0.35) $(0.33)
From net realized gain (2.51) (0.43)  —  — (0.10)  —
Total distributions $(3.06) $(0.93) $(0.45) $(0.42) $(0.45) $(0.33)
Net asset value — End of period $53.19 $57.13 $50.38 $37.32 $31.37 $39.35
Total Return(2) (1.86)%(3) 15.41% 36.47% 20.46% (19.42)% 30.12%
Ratios/Supplemental Data            
Net assets, end of period (000’s omitted) $1,719,733 $1,884,152 $1,793,598 $1,291,167 $947,313 $1,006,890
Ratios (as a percentage of average daily net assets):(4)            
Total expenses 0.28%(5) 0.28% 0.29% 0.30% 0.29% 0.29%
Net expenses 0.19%(5)(6) 0.19%(6) 0.19%(6) 0.19%(6) 0.19%(6) 0.19%
Net investment income 1.06%(5) 1.09% 1.15% 1.30% 1.13% 1.07%
Portfolio Turnover 2%(3) 8% 12% 8% 13% 10%
    
(1) Computed using average shares outstanding.
(2) Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.
(3) Not annualized.
(4) Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.
(5) Annualized.
(6) Includes a reduction by the investment adviser of a portion of its advisory fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended March 31, 2026 and the years ended September 30, 2025, 2024, 2023 and 2022).
20
See Notes to Financial Statements.

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies
Calvert US Large-Cap Core Responsible Index Fund (the Fund) is a diversified series of Calvert Responsible Index Series, Inc. (the Corporation). The Corporation is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The investment objective of the Fund is to seek to track the performance of the Calvert US Large-Cap Core Responsible Index, which measures the investment return of large-capitalization stocks.
The Fund offers four classes of shares. Class A shares are generally sold subject to a sales charge imposed at time of purchase. A contingent deferred sales charge of 0.25% may apply to certain redemptions of Class A shares for accounts for which no sales charge was paid, if redeemed within 12 months of purchase. Class C shares are sold without a front-end sales charge, and with certain exceptions, are charged a contingent deferred sales charge of 1.00% on shares redeemed within 12 months of purchase. Class C shares are only available for purchase through a financial intermediary. Effective November 5, 2020, Class C shares automatically convert to Class A shares eight years after their purchase as described in the Fund's prospectus. Class I and Class R6 shares are sold at net asset value, are not subject to a sales charge and are sold only to certain eligible investors. Each class represents a pro rata interest in the Fund, but votes separately on class-specific matters and is subject to different expenses.
The Fund applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946). Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements.
A  Investment Valuation— Net asset value per share is determined every business day as of the close of the regular session of the New York Stock Exchange (generally 4:00 p.m. Eastern time). The Fund uses independent pricing services approved by the Board of Directors (the Board) to value its investments wherever possible. Investments for which market quotations are not available or deemed not reliable are fair valued in good faith by the
Board’s valuation designee.
U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Valuation techniques used to value the Fund’s investments by major category are as follows:
Equity Securities. Equity securities (including warrants and rights) listed on a U.S. securities exchange generally are valued at the last sale or closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price and are categorized as Level 1 in the hierarchy. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices and are categorized as Level 2 in the hierarchy.
Other Securities.  Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day and are categorized as Level 1 in the hierarchy.
Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Board has designated the Fund’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
The values assigned to fair value investments are based on available information and do not necessarily represent amounts that might ultimately be realized. Further, due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed, and the differences could be material.
21

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

The following table summarizes the market value of the Fund's holdings as of March 31, 2026, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3(1) Total
Common Stocks $5,545,704,648(2) $ — $ — $5,545,704,648
Rights  —  — 7,766 7,766
Miscellaneous  —  — 0 0
Short-Term Investments:        
Affiliated Fund 3,785,582  —  — 3,785,582
Securities Lending Collateral 321,750  —  — 321,750
Total Investments $5,549,811,980 $ — $7,766 $5,549,819,746
    
(1) None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.
(2) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended March 31, 2026 is not presented.
B  Investment Transactions and Income— Investment transactions for financial statement purposes are accounted for on trade date. Realized gains and losses are recorded on an identified cost basis and may include proceeds from litigation. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities or, in the case of dividends on certain foreign securities, as soon as the Fund is informed of the ex-dividend date. Non-cash dividends are recorded at the fair value of the securities received. Withholding taxes on foreign dividends, if any, have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received that represent a return of capital are recorded as a reduction of cost of investments. Distributions received that represent a capital gain are recorded as a realized gain. Interest income is accrued as earned.
C  Share Class Accounting— Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based upon the relative net assets of each class to the total net assets of the Fund. Expenses arising in connection with a specific class are charged directly to that class. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer agency fees and expenses on the Statement of Operations, are not allocated to Class R6 shares.
D  Restricted Securities— The Fund may invest in securities that are subject to legal or contractual restrictions on resale. Generally, these securities may only be sold publicly upon registration under the Securities Act of 1933 or in transactions exempt from such registration. Information regarding restricted securities (excluding Rule 144A securities) is included at the end of the Schedule of Investments.
E  Distributions to Shareholders— Distributions to shareholders are recorded by the Fund on ex-dividend date. Distributions from net investment income and distributions from net realized capital gains, if any, are paid at least annually. Distributions are declared separately for each class of shares. Distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP; accordingly, periodic reclassifications are made within the Fund's capital accounts to reflect income and gains available for distribution under income tax regulations.
F  Estimates— The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
G  Indemnifications— The Corporation’s By-Laws provide for indemnification for Directors or officers of the Corporation and certain other parties, to the fullest extent permitted by Maryland law and the 1940 Act, provided certain conditions are met. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.
H  Federal and Other Taxes— No provision for federal income or excise tax is required since the Fund intends to continue to qualify as a regulated investment company under the Internal Revenue Code and to distribute substantially all of its taxable earnings. Management has analyzed the Fund's tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Fund's financial statements. A Fund's federal tax return is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.
I  Segment Reporting— The Fund operates as a single reportable segment, an investment company whose investment objective(s) is included in Note 1. The Fund’s President acts as the Fund's Chief Operating Decision Maker (CODM), who is responsible for assessing the performance of the Fund's single segment and deciding how to allocate the segment’s resources. To perform this function, the CODM reviews the information in the Fund’s financial statements.
22

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

J  Interim Financial Statements— The interim financial statements relating to March 31, 2026 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund's management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.
2  Related Party Transactions
The investment advisory fee is earned by Calvert Research and Management (CRM), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Fund. The investment advisory fee is computed at the annual rate of 0.12% of the Fund's average daily net assets and is payable monthly. For the six months ended March 31, 2026, the investment advisory fee amounted to $3,572,852.
The Fund may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the “Liquidity Fund”), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment advisory fee paid by the Fund is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the six months ended March 31, 2026, the investment advisory fee paid was reduced by $3,205 relating to the Fund’s investment in the Liquidity Fund.
CRM has agreed to reimburse the Fund’s operating expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 0.49%, 1.24%, 0.24% and 0.19% for Class A, Class C, Class I and Class R6, respectively, of such class’s average daily net assets. The expense reimbursement agreement with CRM may be changed or terminated after February 1, 2027. For the six months ended March 31, 2026, CRM waived and/or reimbursed expenses of $3,041,755.
The administrative fee is earned by CRM as compensation for administrative services rendered to the Fund. The fee is computed at an annual rate of 0.12% of the Fund’s average daily net assets attributable to Class A, Class C, Class I and Class R6 and is payable monthly.  For the six months ended March 31, 2026, CRM was paid administrative fees of $3,572,852.
The Fund has in effect a distribution plan for Class A shares (Class A Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class A Plan, the Fund pays Eaton Vance Distributors, Inc. (EVD), an affiliate of CRM and the Fund’s principal underwriter, a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Class A shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. The Fund also has in effect a distribution plan for Class C shares (Class C Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class C Plan, the Fund pays EVD amounts equal to 0.75% per annum of its average daily net assets attributable to Class C shares for providing ongoing distribution services and facilities to the Fund. In addition, pursuant to the Class C Plan, the Fund also makes payments of service fees to EVD, financial intermediaries and other persons in amounts equal to 0.25% per annum of its average daily net assets attributable to that class. Service fees paid or accrued are for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued for the six months ended March 31, 2026 amounted to $1,067,101 and $360,167 for Class A shares and Class C shares, respectively.
The Fund was informed that EVD received $22,494 as its portion of the sales charge on sales of Class A shares for the six months ended March 31, 2026. The Fund was also informed that EVD received $174 and $533 of contingent deferred sales charges paid by Class A and Class C shareholders, respectively, for the same period. The Fund was informed that Morgan Stanley affiliated broker-dealers, which may be deemed to be affiliates of CRM and EVD, also received a portion of the sales charge on sales of Class A shares for the six months ended March 31, 2026 in the amount of $153.
Eaton Vance Management (EVM), an affiliate of CRM, provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended March 31, 2026, sub-transfer agency fees and expenses incurred to EVM amounted to $52,802 and are included in transfer agency fees and expenses on the Statement of Operations.
Each Director of the Fund who is not an employee of CRM or its affiliates receives an annual fee of $250,000, an annual Committee fee ranging from $8,500 to $16,500 depending on the Committee, and may receive a fee of $10,000 for special meetings. The Board chair receives an additional $75,000 ($55,000 prior to January 1, 2026) annual fee, Committee chairs receive an additional $20,000 annual fee and the special equities liaison receives an additional $2,500 annual fee. Eligible Directors may participate in a Deferred Compensation Plan (the Plan). Amounts deferred under the Plan are treated as though equal dollar amounts had been invested in shares of the Fund or other Calvert funds selected by the Directors. The Fund purchases shares of the funds selected equal to the dollar amounts deferred under the Plan, resulting in an asset equal to the deferred compensation liability. Obligations of the Plan are paid solely from the Fund's assets. Directors’ fees are allocated to each of the Calvert funds served. Salaries and fees of officers and Directors of the Fund who are employees of CRM or its affiliates are paid by CRM.
3  Investment Activity
During the six months ended March 31, 2026, the cost of purchases and proceeds from sales of investments, other than short-term securities, were $111,266,862 and $468,465,679, respectively.
23

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

4  Distributions to Shareholders and Income Tax Information
The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2026, as determined on a federal income tax basis, were as follows:
Aggregate cost $2,385,643,215
Gross unrealized appreciation $3,308,183,584
Gross unrealized depreciation (144,007,053)
Net unrealized appreciation $3,164,176,531
5  Securities Lending
To generate additional income, the Fund may lend its securities pursuant to a securities lending agency agreement with State Street Bank and Trust Company (SSBT), the securities lending agent. Security loans are subject to termination by the Fund at any time and, therefore, are not considered illiquid investments. The Fund requires that the loan be continuously collateralized by either cash or securities in an amount at least equal to the market value of the securities on loan. The market value of securities loaned is determined daily and any additional required collateral is delivered to the Fund on the next business day. Cash collateral is generally invested in a money market fund registered under the 1940 Act that is managed by an affiliate of SSBT. Any gain or loss in the market price of the loaned securities that might occur and any interest earned or dividends declared during the term of the loan would accrue to the account of the Fund. Income earned on the investment of collateral, net of broker rebates and other expenses incurred by the securities lending agent, is split between the Fund and the securities lending agent based on agreed upon contractual terms. Non-cash collateral, if any, is held by the lending agent on behalf of the Fund and cannot be sold or re-pledged by the Fund; accordingly, such collateral is not reflected in the Statement of Assets and Liabilities.
The risks associated with lending portfolio securities include, but are not limited to, possible delays in receiving additional collateral or in the recovery of the loaned securities, possible loss of rights to the collateral should the borrower fail financially, as well as risk of loss in the value of the collateral or the value of the investments made with the collateral. The securities lending agent shall indemnify the Fund in the case of default of any securities borrower.
At March 31, 2026, the total value of securities on loan was $4,180,300 and the total value of collateral received was $4,154,138 comprised of cash of $321,750 and U.S. government and/or agencies securities of $3,832,388.
The following table provides a breakdown of securities lending transactions accounted for as secured borrowings, the obligations by class of collateral pledged, and the remaining contractual maturity of those transactions as of March 31, 2026.
  Remaining Contractual Maturity of the Transactions
  Overnight and
Continuous
<30 days 30 to 90 days >90 days Total
Common Stocks $321,750 $ — $ — $ — $321,750
The carrying amount of the liability for deposits for securities loaned at March 31, 2026 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 1A) at March 31, 2026.
6  Line of Credit
The Fund participates with other portfolios and funds managed by EVM and its affiliates, including CRM, in a $650 million unsecured revolving line of credit agreement with a group of banks, which is in effect through October 20, 2026. Borrowings are made by the Fund solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Fund based on its borrowings generally at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. In connection with the renewal of the agreement in October 2025, an arrangement fee of $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time.
The Fund had no borrowings outstanding pursuant to its line of credit at March 31, 2026. The Fund did not have any significant borrowings or allocated fees during the six months ended March 31, 2026.
24

 

Table of Contents
Calvert
US Large-Cap Core Responsible Index Fund
March 31, 2026
Notes to Financial Statements (Unaudited) — continued

7  Affiliated Investments
At March 31, 2026, the value of the Fund’s investment in funds that may be deemed to be affiliated was $3,785,582, which represents 0.1% of the Fund’s net assets. Transactions in such investments by the Fund for the six months ended March 31, 2026 were as follows:
Name Value,
beginning
of period
Purchases Sales
proceeds
Net
realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Value,
end of
period
Dividend
income
Shares,
end of
period
Short-Term Investments            
Liquidity Fund $2,942,519 $193,415,702 $(192,572,639) $ — $ — $3,785,582 $91,816 3,785,582
8  Capital Shares
The Corporation may issue its shares in one or more series (such as the Fund). The authorized shares of the Fund consist of 75,000,000 common shares, $0.01 par value, for each Class.
Transactions in capital shares, including direct exchanges pursuant to share class conversions, were as follows:
  Six Months Ended
March 31, 2026
(Unaudited)
  Year Ended
September 30, 2025
  Shares Amount   Shares Amount
Class A          
Shares sold 620,593 $34,124,150   2,364,531 $117,951,031
Reinvestment of distributions 748,668 41,161,764   241,882 12,355,358
Shares redeemed (1,328,411) (72,937,958)   (4,244,363) (209,029,617)
Net increase (decrease) 40,850 $2,347,956   (1,637,950) $(78,723,228)
Class C          
Shares sold 99,008 $5,047,288   1,209,556 $56,284,438
Reinvestment of distributions 64,154 3,289,836   15,169 725,516
Shares redeemed (217,000) (11,067,030)   (1,456,530) (67,669,158)
Net decrease (53,838) $(2,729,906)   (231,805) $(10,659,204)
Class I          
Shares sold 4,796,227 $271,409,058   11,332,346 $581,456,729
Reinvestment of distributions 2,742,497 155,335,034   931,350 48,923,799
Shares redeemed (8,013,592) (453,828,247)   (15,039,762) (779,488,366)
Net decrease (474,868) $(27,084,155)   (2,776,066) $(149,107,838)
Class R6          
Shares sold 2,786,027 $158,062,495   8,469,801 $437,120,527
Reinvestment of distributions 1,498,252 84,696,198   547,312 28,706,521
Shares redeemed (4,934,942) (279,361,208)   (11,640,102) (598,635,977)
Net decrease (650,663) $(36,602,515)   (2,622,989) $(132,808,929)
25

 

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Table of Contents
CSXAX-NCSR 3.31.26


Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract

Not applicable.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 13. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders

There have been no material changes to the procedures by which shareholders may recommend nominee to the Fund’s Board of Directors since the Fund last provided disclosure in response to this item.


Item 16. Controls and Procedures

 

(a)

It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

 

(b)

There have been no changes in the registrant’s internal control over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation

Not applicable.

Item 19. Exhibits

 

(a)(1)

  Registrant’s Code of Ethics – Not applicable (please see Item 2).

(a)(2)(i)

  Principal Financial Officer’s Section 302 certification.

(a)(2)(ii)

  Principal Executive Officer’s Section 302 certification.

(b)

  Combined Section 906 certification.


Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Calvert Responsible Index Series, Inc.
By:   /s/ Von M. Hughes
  Von M. Hughes
  Principal Executive Officer

Date: May 26, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Principal Financial Officer
Date: May 26, 2026
By:   /s/ Von M. Hughes
  Von M. Hughes
  Principal Executive Officer
Date: May 26, 2026

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