Calvert
Emerging Markets Advancement Fund
June 30, 2024
Schedule of Investments (Unaudited)
| Common Stocks — 97.5% |
| Security | Shares | Value | |
| Cyprus — 2.8% | |||
| Bank of Cyprus Holdings PLC | 600,026 | $ 2,537,166 | |
| $ 2,537,166 | |||
| Georgia — 3.6% | |||
| Bank of Georgia Group PLC | 19,296 | $ 981,670 | |
| Georgia Capital PLC(1) | 90,453 | 1,117,048 | |
| TBC Bank Group PLC | 35,854 | 1,162,621 | |
| $ 3,261,339 | |||
| Greece — 17.0% | |||
| Alpha Services and Holdings SA(1) | 878,746 | $1,430,339 | |
| Athens Water Supply & Sewage Co. SA | 59,339 | 347,589 | |
| Eurobank Ergasias Services & Holdings SA, Class A(1) | 1,163,128 | 2,522,233 | |
| GEK TERNA SA | 43,788 | 774,077 | |
| Hellenic Telecommunications Organization SA | 101,693 | 1,461,710 | |
| JUMBO SA | 55,365 | 1,587,819 | |
| LAMDA Development SA(1) | 67,219 | 484,071 | |
| National Bank of Greece SA(1) | 297,869 | 2,474,805 | |
| Piraeus Financial Holdings SA(1) | 416,407 | 1,515,325 | |
| Public Power Corp. SA(1) | 160,440 | 1,929,751 | |
| Terna Energy SA(1) | 41,170 | 860,131 | |
| $15,387,850 | |||
| India — 12.9% | |||
| Aarti Industries Ltd. | 4,236 | $34,848 | |
| Aarti Pharmalabs Ltd. | 932 | 6,808 | |
| Angel One Ltd. | 200 | 6,248 | |
| Apollo Hospitals Enterprise Ltd. | 1,998 | 147,991 | |
| Ashok Leyland Ltd. | 30,101 | 87,118 | |
| Asian Paints Ltd. | 6,467 | 225,751 | |
| AU Small Finance Bank Ltd.(2) | 5,029 | 40,375 | |
| Avenue Supermarts Ltd.(1)(2) | 3,975 | 224,661 | |
| Axis Bank Ltd. | 28,010 | 424,000 | |
| Bajaj Finance Ltd. | 1,200 | 102,317 | |
| Bajaj Finserv Ltd. | 2,300 | 43,823 | |
| Bandhan Bank Ltd.(2) | 11,793 | 28,828 | |
| Bank of Baroda | 15,482 | 50,954 | |
| Bank of India | 5,600 | 8,106 | |
| Bharti Airtel Ltd. | 30,836 | 535,336 | |
| Biocon Ltd. | 11,674 | 49,192 | |
| Britannia Industries Ltd.(1) | 2,374 | 155,114 | |
| BSE Ltd. | 400 | 12,326 | |
| Central Depository Services India Ltd.(3) | 300 | 8,633 | |
| CG Power & Industrial Solutions Ltd. | 5,600 | 47,207 | |
| Cipla Ltd. | 8,710 | 154,576 | |
| Coforge Ltd. | 2,193 | 141,991 | |
| Crompton Greaves Consumer Electricals Ltd. | 18,918 | 91,953 | |
| Dabur India Ltd. | 4,163 | 29,930 | |
| Dixon Technologies India Ltd.(3) | 781 | 111,968 | |
| DLF Ltd. | 19,843 | 195,608 | |
| Security | Shares | Value | |
| India (continued) | |||
| Dr. Lal PathLabs Ltd.(2) | 878 | $ 29,337 | |
| Embassy Office Parks REIT | 20,528 | 87,484 | |
| Exide Industries Ltd. | 2,700 | 18,257 | |
| Federal Bank Ltd. | 23,934 | 50,921 | |
| FSN E-Commerce Ventures Ltd.(1) | 20,253 | 42,663 | |
| GMR Airports Infrastructure Ltd.(1) | 21,700 | 25,012 | |
| Godrej Consumer Products Ltd. | 2,487 | 40,895 | |
| Godrej Properties Ltd.(1) | 1,000 | 38,260 | |
| Havells India Ltd. | 3,343 | 72,918 | |
| HCL Technologies Ltd. | 14,578 | 254,759 | |
| HDFC Bank Ltd. | 55,104 | 1,113,574 | |
| HDFC Life Insurance Co. Ltd.(2) | 5,700 | 40,630 | |
| Hero MotoCorp Ltd. | 3,715 | 248,558 | |
| Hindustan Unilever Ltd. | 10,966 | 324,105 | |
| ICICI Bank Ltd. | 55,424 | 796,177 | |
| IDFC First Bank Ltd.(1) | 61,395 | 60,448 | |
| Indian Hotels Co. Ltd. | 19,930 | 148,609 | |
| Indian Railway Catering & Tourism Corp. Ltd. | 13,222 | 156,714 | |
| Indian Renewable Energy Development Agency Ltd.(1) | 3,900 | 8,892 | |
| Indus Towers Ltd.(1) | 18,453 | 83,085 | |
| IndusInd Bank Ltd. | 10,273 | 180,131 | |
| Info Edge India Ltd. | 924 | 75,271 | |
| IRB Infrastructure Developers Ltd. | 15,600 | 12,104 | |
| IRCON International Ltd.(2) | 3,000 | 9,673 | |
| Kotak Mahindra Bank Ltd. | 13,111 | 282,746 | |
| KPIT Technologies Ltd. | 5,354 | 104,709 | |
| Laurus Labs Ltd.(2) | 5,460 | 27,817 | |
| LTIMindtree Ltd.(2) | 3,349 | 215,547 | |
| MakeMyTrip Ltd.(1) | 857 | 72,074 | |
| Marico Ltd. | 1,455 | 10,713 | |
| Maruti Suzuki India Ltd. | 1,706 | 245,795 | |
| Max Healthcare Institute Ltd. | 11,179 | 126,323 | |
| Mphasis Ltd. | 1,045 | 30,730 | |
| Multi Commodity Exchange of India Ltd. | 200 | 9,403 | |
| NBCC India Ltd. | 6,400 | 12,017 | |
| Nestle India Ltd. | 6,400 | 195,550 | |
| One 97 Communications Ltd.(1) | 2,200 | 10,575 | |
| Patanjali Foods Ltd. | 2,007 | 38,340 | |
| PB Fintech Ltd.(1) | 2,200 | 36,796 | |
| Persistent Systems Ltd. | 2,896 | 148,217 | |
| Punjab National Bank | 41,181 | 60,681 | |
| REC Ltd. | 7,300 | 45,969 | |
| Shriram Finance Ltd. | 2,000 | 70,058 | |
| Siemens Ltd. | 2,483 | 229,299 | |
| Sona BLW Precision Forgings Ltd.(2) | 3,300 | 25,306 | |
| State Bank of India | 26,530 | 269,479 | |
| Sterling & Wilson Renewable(1)(3) | 1,000 | 8,571 | |
| Suzlon Energy Ltd.(1) | 67,500 | 42,598 | |
| Tata Consultancy Services Ltd. | 11,034 | 515,777 | |
| Tata Elxsi Ltd. | 687 | 57,576 | |
| Tata Motors Ltd. | 25,240 | 298,902 | |
1
Calvert
Emerging Markets Advancement Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
| Security | Shares | Value | |
| India (continued) | |||
| Tata Power Co. Ltd.(1) | 35,856 | $ 189,373 | |
| Tata Teleservices Maharashtra Ltd.(1) | 10,694 | 9,960 | |
| Tech Mahindra Ltd. | 14,419 | 246,404 | |
| Titan Co. Ltd. | 5,583 | 227,441 | |
| Trent Ltd. | 2,414 | 158,265 | |
| TVS Motor Co. Ltd. | 1,933 | 54,629 | |
| Union Bank of India Ltd. | 9,300 | 15,249 | |
| Vodafone Idea Ltd.(1) | 256,518 | 54,939 | |
| Voltas Ltd. | 2,965 | 52,421 | |
| Wipro Ltd. | 37,112 | 228,634 | |
| WNS Holdings Ltd.(1) | 586 | 30,765 | |
| Yes Bank Ltd.(1) | 429,324 | 122,073 | |
| Zee Entertainment Enterprises Ltd.(1) | 11,487 | 20,833 | |
| Zomato Ltd.(1) | 100,008 | 239,087 | |
| $11,725,780 | |||
| Poland — 11.8% | |||
| Allegro.eu SA(1)(2) | 75,756 | $708,009 | |
| Bank Millennium SA(1) | 81,000 | 188,480 | |
| Bank Polska Kasa Opieki SA | 25,621 | 1,066,064 | |
| Budimex SA | 1,964 | 339,819 | |
| CCC SA(1) | 6,000 | 183,328 | |
| CD Projekt SA | 11,282 | 389,159 | |
| Cyfrowy Polsat SA(1) | 56,511 | 169,678 | |
| Dino Polska SA(1)(2) | 6,968 | 702,167 | |
| Inter Cars SA | 1,484 | 204,670 | |
| KGHM Polska Miedz SA | 39,500 | 1,465,527 | |
| KRUK SA | 2,571 | 295,149 | |
| LPP SA | 149 | 631,926 | |
| mBank SA(1) | 1,998 | 314,836 | |
| Orange Polska SA | 123,067 | 238,577 | |
| PGE Polska Grupa Energetyczna SA(1) | 138,393 | 246,868 | |
| Powszechna Kasa Oszczednosci Bank Polski SA | 119,387 | 1,862,474 | |
| Powszechny Zaklad Ubezpieczen SA | 83,939 | 1,071,666 | |
| Santander Bank Polska SA | 4,497 | 602,686 | |
| $10,681,083 | |||
| Slovenia — 2.3% | |||
| Nova Ljubljanska Banka DD GDR(3) | 80,100 | $2,128,571 | |
| $2,128,571 | |||
| South Korea — 11.3% | |||
| AMOREPACIFIC Corp. | 1,021 | $123,593 | |
| AMOREPACIFIC Group | 762 | 17,822 | |
| CJ CheilJedang Corp. | 238 | 66,409 | |
| Coway Co. Ltd. | 1,541 | 71,430 | |
| DB HiTek Co. Ltd. | 800 | 28,218 | |
| Doosan Enerbility Co. Ltd.(1) | 11,479 | 166,879 | |
| Hana Financial Group, Inc. | 4,641 | 204,111 | |
| Hanmi Pharm Co. Ltd. | 358 | 70,084 | |
| Hanon Systems | 4,247 | 14,519 | |
| Security | Shares | Value | |
| South Korea (continued) | |||
| HMM Co. Ltd. | 11,375 | $ 162,067 | |
| Hotel Shilla Co. Ltd. | 887 | 34,405 | |
| Hyundai Glovis Co. Ltd. | 531 | 84,224 | |
| Hyundai Marine & Fire Insurance Co. Ltd. | 1,826 | 45,632 | |
| Hyundai Mobis Co. Ltd. | 835 | 151,697 | |
| Hyundai Motor Co. | 2,183 | 465,542 | |
| Kakao Corp. | 4,161 | 121,907 | |
| Kakao Games Corp.(1) | 1,157 | 17,132 | |
| Kakaopay Corp.(1) | 451 | 8,748 | |
| KB Financial Group, Inc. | 5,402 | 307,267 | |
| Kia Corp. | 3,288 | 307,662 | |
| Korea Investment Holdings Co. Ltd. | 1,386 | 70,073 | |
| Krafton, Inc.(1) | 332 | 67,535 | |
| KT Corp. | 3,811 | 103,283 | |
| L&F Co. Ltd.(1) | 935 | 91,223 | |
| LG Chem Ltd. | 945 | 235,489 | |
| LG Display Co. Ltd.(1) | 8,119 | 67,469 | |
| LG Electronics, Inc. | 1,441 | 115,489 | |
| LG H&H Co. Ltd. | 296 | 73,931 | |
| LG Innotek Co. Ltd. | 375 | 73,674 | |
| Meritz Financial Group, Inc. | 1,577 | 90,295 | |
| Mirae Asset Securities Co. Ltd. | 8,724 | 46,146 | |
| NAVER Corp. | 2,304 | 277,249 | |
| Netmarble Corp.(1)(2) | 576 | 22,325 | |
| NH Investment & Securities Co. Ltd. | 3,800 | 34,905 | |
| POSCO Holdings, Inc. | 1,079 | 282,420 | |
| Samsung C&T Corp. | 1,681 | 172,513 | |
| Samsung Electro-Mechanics Co. Ltd. | 709 | 80,841 | |
| Samsung Electronics Co. Ltd. | 60,729 | 3,574,131 | |
| Samsung Heavy Industries Co. Ltd.(1) | 17,887 | 121,317 | |
| Samsung SDS Co. Ltd. | 1,109 | 119,037 | |
| Samsung Securities Co. Ltd. | 1,918 | 55,210 | |
| SD Biosensor, Inc.(1) | 1,600 | 11,408 | |
| Shinhan Financial Group Co. Ltd. | 6,503 | 226,707 | |
| SK Biopharmaceuticals Co. Ltd.(1) | 1,616 | 90,544 | |
| SK Bioscience Co. Ltd.(1) | 1,443 | 54,904 | |
| SK Hynix, Inc. | 6,940 | 1,177,777 | |
| SK IE Technology Co. Ltd.(1)(2) | 871 | 27,743 | |
| SK Square Co. Ltd.(1) | 1,299 | 93,740 | |
| SK Telecom Co. Ltd. | 1,625 | 60,673 | |
| Woori Financial Group, Inc. | 15,348 | 163,761 | |
| Yuhan Corp. | 1,409 | 82,471 | |
| $10,233,631 | |||
| Taiwan — 20.4% | |||
| Accton Technology Corp. | 10,000 | $170,195 | |
| Acer, Inc. | 85,000 | 122,440 | |
| Advantech Co. Ltd. | 10,000 | 113,848 | |
| Airtac International Group | 4,000 | 121,409 | |
| ASE Technology Holding Co. Ltd. | 80,000 | 414,425 | |
| Asia Vital Components Co. Ltd. | 6,000 | 140,496 | |
2
Calvert
Emerging Markets Advancement Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
| Security | Shares | Value | |
| Taiwan (continued) | |||
| AUO Corp. | 220,000 | $ 120,308 | |
| Catcher Technology Co. Ltd. | 19,000 | 135,726 | |
| Cathay Financial Holding Co. Ltd.(1) | 243,000 | 441,307 | |
| Chailease Holding Co. Ltd. | 28,000 | 132,160 | |
| Chroma ATE, Inc. | 14,000 | 136,887 | |
| Chunghwa Telecom Co. Ltd.(1) | 80,000 | 309,991 | |
| Compal Electronics, Inc. | 118,000 | 125,788 | |
| CTBC Financial Holding Co. Ltd. | 456,000 | 531,734 | |
| Delta Electronics, Inc. | 41,000 | 489,027 | |
| E Ink Holdings, Inc. | 21,000 | 162,601 | |
| Elite Material Co. Ltd. | 8,000 | 116,619 | |
| Evergreen Marine Corp. Taiwan Ltd. | 18,000 | 107,045 | |
| Far Eastern New Century Corp. | 115,000 | 124,982 | |
| Far EasTone Telecommunications Co. Ltd. | 50,000 | 129,647 | |
| First Financial Holding Co. Ltd. | 203,000 | 175,869 | |
| Fubon Financial Holding Co. Ltd. | 186,000 | 454,247 | |
| Gigabyte Technology Co. Ltd. | 14,000 | 131,052 | |
| Globalwafers Co. Ltd. | 7,000 | 115,911 | |
| Hiwin Technologies Corp. | 18,000 | 117,849 | |
| Hotai Motor Co. Ltd. | 4,000 | 76,665 | |
| Hua Nan Financial Holdings Co. Ltd. | 157,000 | 127,674 | |
| Innolux Corp. | 289,000 | 127,507 | |
| Inventec Corp. | 79,000 | 135,144 | |
| Lite-On Technology Corp. | 40,000 | 129,940 | |
| MediaTek, Inc. | 22,000 | 947,504 | |
| Mega Financial Holding Co. Ltd. | 187,000 | 232,776 | |
| Micro-Star International Co. Ltd. | 22,000 | 120,400 | |
| Novatek Microelectronics Corp. | 10,000 | 186,498 | |
| President Chain Store Corp. | 15,000 | 126,424 | |
| Quanta Computer, Inc. | 67,000 | 640,496 | |
| Realtek Semiconductor Corp. | 10,000 | 167,812 | |
| Shanghai Commercial & Savings Bank Ltd. | 86,000 | 122,208 | |
| Shin Kong Financial Holding Co. Ltd.(1) | 435,000 | 131,823 | |
| Sino-American Silicon Products, Inc. | 18,000 | 120,231 | |
| SinoPac Financial Holdings Co. Ltd. | 204,000 | 160,034 | |
| Taishin Financial Holding Co. Ltd. | 256,000 | 148,821 | |
| Taiwan Mobile Co. Ltd. | 37,000 | 122,016 | |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 257,000 | 7,614,296 | |
| Tatung Co. Ltd.(1) | 77,000 | 135,035 | |
| TCC Group Holdings | 197,000 | 207,629 | |
| Teco Electric & Machinery Co. Ltd. | 74,000 | 121,824 | |
| Unimicron Technology Corp. | 22,000 | 121,718 | |
| Uni-President Enterprises Corp. | 74,000 | 185,448 | |
| United Microelectronics Corp.(1) | 308,000 | 532,697 | |
| Walsin Lihwa Corp. | 118,000 | 128,975 | |
| WPG Holdings Ltd. | 50,000 | 138,280 | |
| Yageo Corp. | 6,000 | 134,773 | |
| Yuanta Financial Holding Co. Ltd. | 196,000 | 193,294 | |
| $18,479,505 | |||
| Security | Shares | Value | |
| Turkey — 4.8% | |||
| Akbank TAS | 406,255 | $ 794,862 | |
| Coca-Cola Icecek AS | 9,421 | 238,313 | |
| Ford Otomotiv Sanayi AS | 19,178 | 662,306 | |
| Haci Omer Sabanci Holding AS | 173,994 | 514,085 | |
| Hektas Ticaret TAS(1) | 277,749 | 108,399 | |
| Turkcell Iletisim Hizmetleri AS | 156,841 | 483,671 | |
| Turkiye Is Bankasi AS, Class C | 1,205,865 | 585,591 | |
| Turkiye Sise ve Cam Fabrikalari AS | 359,956 | 551,956 | |
| Yapi ve Kredi Bankasi AS | 357,339 | 369,832 | |
| $4,309,015 | |||
| United Arab Emirates — 7.6% | |||
| Abu Dhabi Commercial Bank PJSC | 283,856 | $618,396 | |
| Aldar Properties PJSC | 1,399,268 | 2,384,991 | |
| Dubai Financial Market PJSC | 188,038 | 64,875 | |
| Dubai Islamic Bank PJSC | 116,847 | 182,625 | |
| Emirates Integrated Telecommunications Co. PJSC | 116,505 | 180,472 | |
| Emirates Telecommunications Group Co. PJSC | 515,870 | 2,258,896 | |
| Fertiglobe PLC | 90,265 | 59,172 | |
| First Abu Dhabi Bank PJSC | 334,719 | 1,134,695 | |
| $6,884,122 | |||
| United Kingdom — 0.1% | |||
| Pepco Group NV(1)(3) | 20,032 | $103,775 | |
| $103,775 | |||
| Vietnam — 2.9% | |||
| Digiworld Corp. | 290,200 | $695,573 | |
| FPT Corp. | 319,920 | 1,637,388 | |
| Gemadept Corp. | 91,800 | 298,632 | |
| $2,631,593 | |||
| Total Common Stocks (identified cost $68,755,307) | $88,363,430 | ||
| Short-Term Investments — 3.4% |
| Security | Shares | Value | |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.22%(4) | 3,126,383 | $ 3,126,383 | |
| Total Short-Term Investments (identified cost $3,126,383) | $ 3,126,383 | ||
| Total Investments — 100.9% (identified cost $71,881,690) | $91,489,813 | |
| Other Assets, Less Liabilities — (0.9)% | $ (832,201) | |
| Net Assets — 100.0% | $90,657,612 |
3
Calvert
Emerging Markets Advancement Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
| The percentage shown for each investment category in the Schedule of Investments is based on net assets. | |
| (1) | Non-income producing security. |
| (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 June 30, 2024, the aggregate value of these securities is $2,102,418 or 2.3% of the Fund's net assets. |
| (3) | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At June 30, 2024, the aggregate value of these securities is $2,361,518 or 2.5% of the Fund's net assets. |
| (4) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of June 30, 2024. |
At June 30, 2024, 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 | 37.0% |
| Information Technology | 25.4 |
| Consumer Discretionary | 8.1 |
| Communication Services | 7.9 |
| Industrials | 5.0 |
| Utilities | 4.0 |
| Real Estate | 3.5 |
| Materials | 2.9 |
| Consumer Staples | 2.8 |
| Health Care | 0.9 |
| Total | 97.5% |
Forward Foreign Currency Exchange Contracts (OTC)
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
| USD | 22,192,860 | EUR | 20,393,000 | Standard Chartered Bank | 7/5/24 | $349,961 | $ — |
| USD | 1,795,627 | EUR | 1,650,000 | Standard Chartered Bank | 7/5/24 | 28,315 | — |
| INR | 561,000,000 | USD | 6,694,910 | Goldman Sachs International | 9/18/24 | 17,222 | — |
| USD | 8,786,108 | CNH | 63,300,000 | UBS AG | 9/19/24 | 65,528 | — |
| $461,026 | $ — | ||||||
| Abbreviations: | |
| GDR | – Global Depositary Receipt |
| OTC | – Over-the-counter |
| Currency Abbreviations: | |
| CNH | – Yuan Renminbi Offshore |
| EUR | – Euro |
| INR | – Indian Rupee |
| USD | – United States Dollar |
At June 30, 2024, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
Equity Price Risk: During the fiscal year to date ended June 30, 2024, the Fund entered into equity futures contracts to enhance total return, to manage certain investment risks and/or as a substitute for the purchase of securities.
Foreign Exchange Risk: During the fiscal year to date ended June 30, 2024, the Fund entered into forward foreign currency exchange contracts to seek to hedge against fluctuations in currency exchange rates and/or as a substitute for the purchase or sale of securities or currencies.
4
Calvert
Emerging Markets Advancement Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
Affiliated Investments
At June 30, 2024, the value of the Fund's investment in funds that may be deemed to be affiliated was $3,126,383, which represents 3.4% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended June 30, 2024 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, Institutional Class(1) | $5,086 | $28,945,078 | $(25,823,781) | $ — | $ — | $3,126,383 | $38,934 | 3,126,383 |
| (1) | Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio. |
Fair Value Measurements
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.
The following table summarizes the market value of the Fund's holdings as of June 30, 2024, based on the inputs used to value them:
| Asset Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks: | ||||
| Cyprus | $ — | $2,537,166 | $ — | $2,537,166 |
| Georgia | — | 3,261,339 | — | 3,261,339 |
| Greece | — | 15,387,850 | — | 15,387,850 |
| India | 102,839 | 11,622,941 | — | 11,725,780 |
| Poland | — | 10,681,083 | — | 10,681,083 |
| Slovenia | — | 2,128,571 | — | 2,128,571 |
| South Korea | — | 10,233,631 | — | 10,233,631 |
| Taiwan | — | 18,479,505 | — | 18,479,505 |
| Turkey | — | 4,309,015 | — | 4,309,015 |
| United Arab Emirates | — | 6,884,122 | — | 6,884,122 |
| United Kingdom | — | 103,775 | — | 103,775 |
| Vietnam | — | 2,631,593 | — | 2,631,593 |
| Total Common Stocks | $102,839 | $88,260,591(1) | $ — | $88,363,430 |
| Short-Term Investments | $3,126,383 | $ — | $ — | $3,126,383 |
| Total Investments | $3,229,222 | $88,260,591 | $ — | $91,489,813 |
| Forward Foreign Currency Exchange Contracts | $ — | $461,026 | $ — | $461,026 |
| Total | $3,229,222 | $88,721,617 | $ — | $91,950,839 |
| (1) | 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. |
5
Calvert
Emerging Markets Advancement Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semi-annual or annual report to shareholders.
6