Overview

Historical Returns (%) as of Sep 30, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc. Max Sales Charge: 5.25%.
 

Fund Facts as of Nov 30, 2024

Class A Inception 10/29/2012
Investment Objective Long-term capital appreciation
Total Net Assets $1.3B
Minimum Investment $1000
Expense Ratio (Gross)2 1.28%
Expense Ratio (Net)2,3 1.24%
CUSIP 131649816

Top 10 Holdings (%)4,5 as of Sep 30, 2024

Taiwan Semiconductor Manufacturing Co Ltd 9.06
Tencent Holdings Ltd 5.91
Samsung Electronics Co Ltd 5.32
HDFC Bank Ltd 3.11
Richter Gedeon Nyrt 3.07
Itausa SA 2.91
ICICI Bank Ltd 2.88
Infosys Ltd 2.78
KB Financial Group Inc 2.35
NARI Technology Co Ltd 2.26
Total 39.66
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


Performance

Historical Returns (%) as of Sep 30, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Performance prior to December 31, 2016 reflects the performance of the Fund’s former adviser, Calvert Investment Management, Inc. Max Sales Charge: 5.25%.
 

Calendar Year Returns (%)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund at NAV -1.37 -7.78 6.55 44.19 -15.56 22.41 24.56 -7.65 -22.76 4.48
MSCI Emerging Markets Index1 -2.19 -14.92 11.19 37.28 -14.57 18.42 18.31 -2.54 -20.09 9.83
 

Fund Facts

Class A Inception 10/29/2012
Expense Ratio (Gross)2 1.28%
Expense Ratio (Net)2,3 1.24%
Distribution Frequency Annually

Risk Measures (3 Year)7,8 as of Nov 30, 2024

Alpha (%) -3.00
Beta 1.05
Information Ratio -0.71
R-Squared (%) 94.86
Standard Deviation (%) 19.25
Sharpe Ratio -0.43
 

Morningstar Rating™ as of Oct 31, 2024

Time Period Rating Funds in
Diversified Emerging Mkts
Category
Overall 709
3 Years 709
5 Years 637
10 Years 426
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
 

NAV History

Date NAV NAV Change
Dec 02, 2024 $17.43 $0.08
Nov 29, 2024 $17.35 -$0.02
Nov 27, 2024 $17.37 -$0.06
Nov 26, 2024 $17.43 -$0.09
Nov 25, 2024 $17.52 $0.00
Nov 22, 2024 $17.52 $0.02
Nov 21, 2024 $17.50 $0.00
Nov 20, 2024 $17.50 -$0.02
Nov 19, 2024 $17.52 -$0.01
Nov 18, 2024 $17.53 $0.20
 

Distribution History9

Ex-Date Distribution Reinvest NAV
Dec 21, 2023 $0.11590 $15.85
Dec 29, 2022 $0.08310 $15.78
Dec 29, 2021 $0.07190 $20.10
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History9

Ex-Date Short-Term Long-Term Reinvest NAV
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


Portfolio

Asset Mix (%)5 as of Sep 30, 2024

Portfolio Statistics as of Sep 30, 2024

Number of Holdings 59
 

GICS Sector Breakdown (%)5 as of Sep 30, 2024

Assets by Country (%)5 as of Sep 30, 2024

China 28.60
Taiwan 15.81
India 14.86
Korea 10.72
South Africa 5.38
Brazil 5.09
Hungary 3.07
Singapore 2.53
Canada 2.17
Mexico 1.91
Total 100.00
View All
 

Geographic Mix (%)5 as of Sep 30, 2024

Asia/Pacific 75.36
Latin America/Caribbean 8.91
Europe 5.75
Africa 5.38
North America 2.63
MiddleEast 0.28
Cash & Other Assets 1.69
Total 100.00
 

Fund Holdings (%)5,10 as of Oct 31, 2024

Holding % of Net Assets
Taiwan Semiconductor Manufacturing Co Ltd 10.36%
Tencent Holdings Ltd 5.68%
Samsung Electronics Co Ltd 5.39%
HDFC Bank Ltd 3.30%
ICICI Bank Ltd 3.25%
Richter Gedeon Nyrt 3.15%
Infosys Ltd 2.90%
KB Financial Group Inc 2.76%
NARI Technology Co Ltd 2.60%
JD.com Inc 2.45%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


Management

Eric Carlson

Managing Director, Portfolio Manager
Joined Morgan Stanley in 1997

Biography

Eric Carlson is the head of sustainability and a portfolio manager of the EM Core strategies on the Emerging Markets Equity team.

He joined Morgan Stanley in 1997 and has 28 years of investment experience. Prior to joining the firm, Eric worked as a telecommunications analyst at Neuberger Berman.

Eric received an A.B., magna cum laude, in social studies from Harvard University and a J.D. from Harvard Law School.

Education
  • A.B. Harvard University
  • J.D. Harvard Law School

Experience
  • Managed Fund since 2024

 

Paul Psaila, CFA

Joined Morgan Stanley in 1994

Biography

Paul Psaila is a co-lead portfolio manager of the EM Core strategies on the Emerging Markets Equity team.

He joined Morgan Stanley in 1994 and has 30 years of investment experience.

Paul received a B.A. in political science from Brandeis University and a master's degree in economics and Latin American studies from the School of Advanced International Studies at Johns Hopkins University. He holds the Chartered Financial Analyst designation.

Education
  • B.A. Brandeis University
  • M.A. Johns Hopkins University

Experience
  • Managed Fund since 2024

 

Literature

Literature

Annual Financial Statements and Add'l Information

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Semi-Annual Financial Statements and Add'l Information

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Commentary

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Attribution

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Annual Report

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Estimated Year-End Distributions

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Full Prospectus

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Q1 Holdings

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Q3 Holdings

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Holdings - Form N-PORT

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Semi-Annual Report

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Summary Prospectus

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