- ISIN
- US27826H7843
- CUSIP
- 27826H784
- Issuer
- Eaton Vance
- Inception Date
- Dec 7, 1993
- Category
- Municipal Bonds
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
EZNAX Performance Chart
Eaton Vance National Limited Maturity Municipal Income Fund (EZNAX) is down 0.0% since the beginning of the year. EZNAX is currently trading at $9 per share. Investors who bought $1,000 worth of EZNAX shares 5 years ago would now be looking at an investment worth $1,031.
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Returns By Period
Eaton Vance National Limited Maturity Municipal Income Fund (EZNAX) has returned -0.02% so far this year and 2.44% over the past 12 months. Over the last ten years, EZNAX has returned 0.98% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Eaton Vance National Limited Maturity Municipal Income Fund
- 1D
- -0.11%
- 1M
- -1.14%
- 6M
- -0.65%
- YTD
- -0.02%
- 1Y
- 2.44%
- 3Y*
- 2.58%
- 5Y*
- 0.61%
- 10Y*
- 0.98%
- ALL TIME*
- 2.57%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
EZNAX Monthly Returns History
Based on dividend-adjusted daily data since Dec 8, 1993, EZNAX'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, 62% of months were positive and 38% were negative. The best month was Jan 2009 with a return of +6.6%, while the worst month was Feb 2008 at -5.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, EZNAX closed higher 31% of trading days. The best single day was Mar 25, 2020 with a return of +1.9%, while the worst single day was Mar 19, 2020 at -1.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.63% | 0.88% | -1.62% | 0.65% | 0.29% | 0.31% | -1.14% | -0.02% | |||||
| 2025 | 0.30% | 0.85% | -0.65% | -0.25% | 0.20% | 0.67% | 0.08% | 0.66% | 1.17% | 0.56% | 0.20% | 0.08% | 3.93% |
| 2024 | 0.08% | 0.09% | -0.11% | -0.37% | -0.14% | 0.92% | 0.56% | 0.67% | 0.56% | -0.70% | 1.11% | -0.38% | 2.31% |
| 2023 | 1.31% | -1.19% | 1.10% | -0.17% | -0.40% | 0.42% | 0.20% | -0.58% | -1.07% | -0.47% | 2.57% | 1.13% | 2.81% |
| 2022 | -1.57% | -0.48% | -1.60% | -1.38% | 0.65% | -0.47% | 1.12% | -1.25% | -1.58% | -0.18% | 1.69% | 0.17% | -4.84% |
| 2021 | 0.53% | -0.75% | -0.03% | 0.41% | 0.18% | -0.03% | 0.48% | -0.26% | -0.47% | -0.27% | 0.17% | -0.05% | -0.09% |
Benchmark Metrics
Eaton Vance National Limited Maturity Municipal Income Fund has an annualized alpha of 2.56%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 08, 1993.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (8.56%) than losses (0.10%) - typical of diversified or defensive assets.
- Beta of 0.00 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.
- Alpha
- 2.56%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 8.56%
- Downside Capture
- 0.10%
Expense Ratio
EZNAX has a high expense ratio of 1.41%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
EZNAX ranks 56 for risk / return — above 56% of mutual funds peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Eaton Vance National Limited Maturity Municipal Income Fund (EZNAX) 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.
| EZNAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.25 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.00 | -0.51 |
| Martin ratioReturn relative to average drawdown | 4.24 | 8.49 | -4.25 |
Dividends
Dividend History
Eaton Vance National Limited Maturity Municipal Income Fund provided a 2.20% dividend yield over the last twelve months, with an annual payout of $0.19 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.19 | $0.27 | $0.24 | $0.16 | $0.11 | $0.08 | $0.15 | $0.20 | $0.19 | $0.19 | $0.20 | $0.21 |
Dividend yield | 2.20% | 3.02% | 2.75% | 1.84% | 1.29% | 0.88% | 1.62% | 2.19% | 2.04% | 2.04% | 2.14% | 2.21% |
Monthly Dividends
The table displays the monthly dividend distributions for Eaton Vance National Limited Maturity Municipal Income Fund. 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 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.10 | |||||
| 2025 | $0.02 | $0.03 | $0.03 | $0.04 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2024 | $0.02 | $0.02 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.04 | $0.24 |
| 2023 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.02 | $0.00 | $0.02 | $0.02 | $0.16 |
| 2022 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
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 National Limited Maturity Municipal Income 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 Eaton Vance National Limited Maturity Municipal Income Fund was 14.41%, occurring on Dec 16, 2008. Recovery took 179 trading sessions.
The current Eaton Vance National Limited Maturity Municipal Income Fund drawdown is 1.51%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-14.41%Dec 2008 | 10mo 27d | 8mo 20d | 1y 7moJan 2008 - Sep 2009 | Financial crisis2007–2009 |
-7.94%Mar 2020 | 10d | 8mo 25d | 9mo 5dMar 2020 - Dec 2020 | COVID crash2020 |
-7.65%Oct 2022 | 1y 2mo | 2y 4mo | 3y 6moAug 2021 - Feb 2025 | Bear market2022 |
-6.66%Sep 2013 | 9mo 4d | 11mo 7d | 1y 8moDec 2012 - Aug 2014 | — |
-6.54%Nov 1994 | 9mo 22d | 4mo 16d | 1y 2moFeb 1994 - Apr 1995 | — |
Drawdown Indicators
| EZNAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.41% | -56.78% | +42.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -9.10% | +7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -2.86% | -18.90% | +16.04% |
Max Drawdown (5Y)Largest decline over 5 years | -7.65% | -25.43% | +17.78% |
Max Drawdown (10Y)Largest decline over 10 years | -7.94% | -33.92% | +25.98% |
Current DrawdownCurrent decline from peak | -1.51% | -1.58% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -10.70% | +9.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 2.14% | -1.43% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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