Calvert US Large-Cap Diversity, Equity and Inclusion Index ETF (CDEI US) – Portfolio Construction Methodology

The underlying Calvert US Large-Cap Diversity Research Index targets US large-cap equities that satisfy Calvert’s diversity, equity and inclusion criteria and broader responsible-investing principles. The starting universe is the 1,000 largest publicly traded US companies by market cap, which generally corresponds to large- and upper mid-cap issuers. Calvert’s research team applies a rules-based diversity assessment covering board, executive and workforce representation, inclusive policies, equal opportunity practices and diversity-related controversies, removing issuers that fall short or violate the Calvert Principles. Remaining companies are included in proportion to their float-adjusted market cap, so the index retains a broad, large-cap risk profile while tilting toward stronger diversity profiles. Constituents are rebalanced quarterly to updated market caps and reconstituted annually in June to reflect changes in the eligible 1,000-stock universe and in Calvert’s diversity and ESG evaluations.

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