Caldillo is New Mexico comfort food. Depending on where you are in New Mexico, it can also be called green chile stew. There is no right or wrong way to make this and every household has their own recipe. We make ours with lean ground beef, either chuck or sirloin, potatoes, tomatoes, squash, onion, chopped green chile (use New Mexican green chile if you can get it), garlic, and salt and pepper. You can use either water or stock. I use a combination of both. It's easy to make. Just keep it simple.
I always like to use fresh vegetables when I can but the one exception is tomatoes. Canned tomatoes are always picked at the peak of ripeness. If you do use canned tomatoes, make sure to add the juice too.