AMZA vs. EVIM

Last updated Jul 12, 2026

AMZA (InfraCap MLP ETF) and EVIM (Eaton Vance Intermediate Municipal Income ETF) are both exchange-traded funds - AMZA is a MLPs fund actively managed by Virtus Investment Partners, while EVIM is a Municipal Bonds fund actively managed by Eaton Vance. Both are actively managed. Over the past year, AMZA returned 18.83% vs 7.27% for EVIM. At a correlation of -0.03, they often move in opposite directions. AMZA charges 2.01%/yr vs 0.29%/yr for EVIM.

Performance

AMZA vs. EVIM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap MLP ETF (AMZA) and Eaton Vance Intermediate Municipal Income ETF (EVIM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZA achieves a 25.02% return, which is significantly higher than EVIM's 1.88% return.

AMZA

• 1D: -0.13%
• 1M: 2.62%
• 6M: 22.14%
• YTD: 25.02%
• 1Y: 18.83%
• 3Y*: 20.72%
• 5Y*: 19.86%
• 10Y*: 4.70%

EVIM

• 1D: 0.12%
• 1M: 0.52%
• 6M: 1.23%
• YTD: 1.88%
• 1Y: 7.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZA vs. EVIM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZA InfraCap MLP ETF	25.02%	0.17%	30.90%	1.21%
EVIM Eaton Vance Intermediate Municipal Income ETF	1.88%	5.85%	1.65%	6.83%

Correlation

The correlation between AMZA and EVIM is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	-0.03

The correlation between AMZA and EVIM shifts across timeframes, from -0.22 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AMZA vs. EVIM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMZA

AMZA Risk / Return Rank: 37
AMZA Sharpe Ratio Rank: 38
AMZA Sortino Ratio Rank: 37
AMZA Omega Ratio Rank: 34
AMZA Calmar Ratio Rank: 41
AMZA Martin Ratio Rank: 33

EVIM

EVIM Risk / Return Rank: 79
EVIM Sharpe Ratio Rank: 92
EVIM Sortino Ratio Rank: 93
EVIM Omega Ratio Rank: 95
EVIM Calmar Ratio Rank: 58
EVIM Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMZA vs. EVIM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap MLP ETF (AMZA) and Eaton Vance Intermediate Municipal Income ETF (EVIM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AMZA	EVIM	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.54	-1.44
Sortino ratio: Return per unit of downside risk	1.62	3.78	-2.17
Omega ratio: Gain probability vs. loss probability	1.19	1.59	-0.40
Calmar ratio: Return relative to maximum drawdown	1.65	2.32	-0.67
Martin ratio: Return relative to average drawdown	3.99	7.39	-3.40

AMZA vs. EVIM - Sharpe Ratio Comparison

The current AMZA Sharpe Ratio is 1.10, which is lower than the EVIM Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of AMZA and EVIM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMZA vs. EVIM - Drawdown Comparison

The maximum AMZA drawdown since its inception was -91.46%, which is greater than EVIM's maximum drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for AMZA and EVIM.

Drawdown Indicators

	AMZA	EVIM	Difference
Max Drawdown Largest peak-to-trough decline	-91.46%	-4.23%	-87.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-3.05%	-9.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-86.84%	—	—
Current Drawdown Current decline from peak	-8.13%	-0.51%	-7.62%
Average Drawdown Average peak-to-trough decline	-44.71%	-0.87%	-43.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	0.96%	+4.07%

Volatility

AMZA vs. EVIM - Volatility Comparison

InfraCap MLP ETF (AMZA) has a higher volatility of 6.79% compared to Eaton Vance Intermediate Municipal Income ETF (EVIM) at 0.67%. This indicates that AMZA's price experiences larger fluctuations and is considered to be riskier than EVIM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZA	EVIM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	0.67%	+6.12%
Volatility (6M) Calculated over the trailing 6-month period	13.98%	1.99%	+11.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.19%	2.79%	+15.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.59%	3.80%	+21.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.16%	3.80%	+33.36%

AMZA vs. EVIM - Expense Ratio Comparison

AMZA has a 2.01% expense ratio, which is higher than EVIM's 0.29% expense ratio.

Dividends

AMZA vs. EVIM - Dividend Comparison

AMZA's dividend yield for the trailing twelve months is around 8.01%, more than EVIM's 3.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZA InfraCap MLP ETF	8.01%	8.81%	7.29%	9.40%	7.65%	10.24%	22.13%	19.47%	34.46%	24.16%	18.36%	18.21%
EVIM Eaton Vance Intermediate Municipal Income ETF	3.52%	3.58%	3.56%	0.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMZA and EVIM in my portfolio?

AMZA and EVIM have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZA or EVIM?

AMZA has higher volatility (6.79%) compared to EVIM (0.67%). In terms of maximum drawdown, AMZA dropped -91.46% vs EVIM's -4.23%.

Which ETF is better, AMZA or EVIM?

On 1-year performance, AMZA leads with 18.83% vs 7.27% for EVIM. On fees, EVIM is cheaper at 0.29% per year. On volatility, EVIM has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZA or EVIM?

Over the 1-year period, AMZA has performed better with a 18.83% return vs 7.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZA or EVIM?

EVIM is cheaper with a 0.29% expense ratio, compared with 2.01% for AMZA.

Which ETF pays a higher dividend yield, AMZA or EVIM?

AMZA has the higher dividend yield at 8.01%, compared with 3.52% for EVIM.

What is the main difference between AMZA and EVIM?

AMZA is categorized as MLPs, while EVIM is Municipal Bonds. They also come from different issuers: Virtus Investment Partners and Eaton Vance. Their fees differ too: 2.01% for AMZA and 0.29% for EVIM.

Which has better risk-adjusted returns?

EVIM currently has the higher Sharpe Ratio (2.54 vs 1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.