- CUSIP
- 61774R858
- Issuer
- Eaton Vance
- Inception Date
- Dec 19, 2018
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE BofA 1-3 Year Municipal Securities Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $739M
Share Price Chart
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Performance
EVSM Performance Chart
Eaton Vance Short Duration Municipal Income ETF (EVSM) is up 1.2% since the beginning of the year. EVSM is currently trading at $50 per share.
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Returns By Period
Eaton Vance Short Duration Municipal Income ETF (EVSM) has returned 1.19% so far this year and 3.77% over the past 12 months.
Eaton Vance Short Duration Municipal Income ETF
- 1D
- -0.08%
- 1M
- 0.56%
- YTD
- 1.19%
- 6M
- 1.28%
- 1Y
- 3.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
EVSM Monthly Returns History
Based on dividend-adjusted daily data since Mar 25, 2024, EVSM's average daily return is +0.01%, while the average monthly return is +0.28%. At this rate, an investment would double in approximately 20.7 years.
Historically, 75% of months were positive and 25% were negative. The best month was Jul 2024 with a return of +1.0%, while the worst month was Mar 2026 at -0.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 2 months.
On a daily basis, EVSM closed higher 56% of trading days. The best single day was Apr 29, 2025 with a return of +0.5%, while the worst single day was Apr 7, 2025 at -1.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.62% | 0.59% | -0.86% | 0.35% | 0.32% | 0.18% | 1.19% | ||||||
| 2025 | 0.47% | 0.62% | -0.31% | -0.10% | 0.45% | 0.79% | 0.48% | 0.68% | 0.46% | 0.03% | 0.25% | 0.36% | 4.24% |
| 2024 | -0.23% | -0.24% | 0.17% | 0.47% | 0.95% | 0.75% | 0.49% | -0.31% | 0.52% | -0.14% | 2.43% |
Benchmark Metrics
Eaton Vance Short Duration Municipal Income ETF has an annualized alpha of 3.44%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since March 25, 2024.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (11.30%) than losses (1.11%) - typical of diversified or defensive assets.
- Beta of 0.01 may look defensive, but with R2 of 0.00 this ETF 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 ETF's risk.
- R2 of 0.00 means this ETF 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.
- Alpha
- 3.44%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 11.30%
- Downside Capture
- 1.11%
Expense Ratio
EVSM has an expense ratio of 0.19%, which is considered low.
Return for Risk
Risk / Return Rank
EVSM ranks 84 for risk / return — in the top 84% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EVSM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.37 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.78 | +0.74 |
| Martin ratioReturn relative to average drawdown | 12.53 | 12.44 | +0.09 |
Dividends
Dividend History
Eaton Vance Short Duration Municipal Income ETF provided a 3.00% dividend yield over the last twelve months, with an annual payout of $1.51 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.51 | $1.57 | $1.49 |
Dividend yield | 3.00% | 3.12% | 2.99% |
Monthly Dividends
The table displays the monthly dividend distributions for Eaton Vance Short Duration Municipal Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.11 | $0.12 | $0.13 | $0.13 | $0.13 | $0.00 | $0.62 | ||||||
| 2025 | $0.14 | $0.13 | $0.14 | $0.13 | $0.14 | $0.13 | $0.13 | $0.13 | $0.12 | $0.13 | $0.12 | $0.13 | $1.57 |
| 2024 | $0.15 | $0.15 | $0.16 | $0.15 | $0.16 | $0.16 | $0.14 | $0.15 | $0.13 | $0.14 | $1.49 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Eaton Vance Short Duration Municipal Income ETF. 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 Eaton Vance Short Duration Municipal Income ETF was 1.50%, occurring on Apr 11, 2025. Recovery took 35 trading sessions.
The current Eaton Vance Short Duration Municipal Income ETF drawdown is 0.08%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -1.50%Apr 2025 | 4d | 1mo 23d | 1mo 27dApr 2025 - Jun 2025 |
2026 pullback2026 | -1.07%Mar 2026 | 22d | 2mo 13d | 3mo 5dMar 2026 - Jun 2026 |
2024 pullback2024 | -0.81%Nov 2024 | 21d | 28d | 1mo 19dOct 2024 - Dec 2024 |
2024 pullback2024 | -0.68%Dec 2024 | 10d | 1mo 9d | 1mo 19dDec 2024 - Jan 2025 |
2024 pullback2024 | -0.55%Apr 2024 | 16d | 29d | 1mo 15dMar 2024 - May 2024 |
Drawdown Indicators
| EVSM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.50% | -56.78% | +55.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | -9.10% | +8.03% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.08% | -1.80% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -10.71% | +10.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 2.03% | -1.73% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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