Parametric TABS Intermediate-Term Municipal Bond Fund (ETIIX)

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Parametric TABS Intermediate-Term Municipal Bond Fund (ETIIX) is down 0.2% since the beginning of the year. ETIIX is currently trading at $12 per share. Investors who bought $1,000 worth of ETIIX shares 5 years ago would now be looking at an investment worth $1,058.

Parametric TABS Intermediate-Term Municipal Bond Fund (ETIIX) has returned -0.20% so far this year and 4.43% over the past 12 months. Over the last ten years, ETIIX has returned 2.00% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Aug 3, 2012, ETIIX's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.

Historically, 60% of months were positive and 40% were negative. The best month was Nov 2023 with a return of +7.6%, while the worst month was Nov 2016 at -4.2%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.

On a daily basis, ETIIX closed higher 39% of trading days. The best single day was Mar 25, 2020 with a return of +3.7%, while the worst single day was Mar 20, 2020 at -2.8%.

Parametric TABS Intermediate-Term Municipal Bond Fund has an annualized alpha of 2.36%, beta of 0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 03, 2012.

• This fund participated in 14.74% of S&P 500 Index downside but only 13.67% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.02 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

ETIIX has an expense ratio of 0.53%, placing it in the medium range.

ETIIX ranks 64 for risk / return — above 64% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.

Parametric TABS Intermediate-Term Municipal Bond Fund provided a 3.20% dividend yield over the last twelve months, with an annual payout of $0.38 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Parametric TABS Intermediate-Term Municipal Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Parametric TABS Intermediate-Term Municipal Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Parametric TABS Intermediate-Term Municipal Bond Fund was 12.72%, occurring on Oct 25, 2022. Recovery took 444 trading sessions.

The current Parametric TABS Intermediate-Term Municipal Bond Fund drawdown is 2.47%.

The chart below shows the rolling one-month volatility.