Calvert Ultra-Short Duration Income A

Frequently Asked Questions About CULAX

What does CULAX invest in?

The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (including borrowings for investment purposes) in a portfolio of floating-rate securities (e.g., corporate floating-rate securities) and securities with durations of less than or equal to one year. The manager generally defines ultra-short duration securities as those with durations of less than or equal to one year.

What is the expense ratio of CULAX?

Calvert Ultra-Short Duration Income A (CULAX) charges an expense ratio of 0.72%. This is the annual fee deducted from fund assets to cover management and operations.

What is CULAX's dividend yield?

CULAX's trailing-twelve-month yield is 3.79%, calculated from the sum of dividends over the past year divided by the current price.

Is CULAX a good long-term hold?

CULAX is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does CULAX's daily reset work?

CULAX rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is CULAX?

Calvert Ultra-Short Duration Income A (CULAX) manages $647.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.