Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF
CDEI
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- Calvert US Large-Cap Diversity, Equity and Inclusion Index ETF (CDEI) is an exchange-traded fund that provides diversified exposure to U.S. large-cap companies selected for their leadership or significant improvement in managing diversity, equity, and inclusion (DEI) issues, as determined by Calvert Research and Management's proprietary research and the Calvert Principles for Responsible Investment; the fund tracks the Calvert US Large-Cap Diversity Research Index, comprising common stocks from the universe of the 1,000 largest publicly traded U.S. companies by market capitalization that demonstrate strong or improving DEI practices, including diverse workforces and inclusive cultures. It offers investors a low-cost (net expense ratio of 0.14%), transparent, and tax-efficient vehicle seeking competitive performance alongside positive societal impact through ESG-focused indexing. The ETF targets institutional and individual investors interested in responsible investing strategies emphasizing U.S. equity markets. Launched on January 30, 2023, as part of Morgan Stanley Investment Management's (MSIM) initial ETF platform rollout featuring six Calvert-branded ETFs listed on NYSE Arca, CDEI represents Calvert's innovative approach to DEI-themed investing within the broader sustainable and responsible investment segment. In a recent development, effective April 7, 2025, Gordon Wotherspoon joined the portfolio management team, enhancing oversight by the Index Construction Team. MSIM supports the fund through an annual donation commitment equal to 0.02% of CDEI's net annualized assets under management to DEI-focused organizations, with the first $25,000 contribution made in 2023 to America Needs You (ANY), and continues this practice from its own resources. Headquartered in New York alongside its parent entities Morgan Stanley and Calvert Research and Management, the ETF operates principally in the United States, holding approximately 378 securities with a focus on large-cap U.S. equities across sectors, though concentrated risks apply to information technology and other areas; it is distributed by Foreside Fund Services, LLC, and benefits from Calvert's decades-long expertise in responsible investing dating back over 40 years.