EAEAX vs. SCHG

Last updated Aug 1, 2026

EAEAX (Eaton Vance Tax-Managed Equity Asset Allocation Fund) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both funds - EAEAX is a Diversified Portfolio fund managed by BlackRock, while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Over the past 10 years, EAEAX returned 11.49%/yr vs 18.27%/yr for SCHG. Their correlation of 0.92 means they have usually moved in the same direction. EAEAX charges 1.25%/yr vs 0.04%/yr for SCHG.

Performance

EAEAX vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Tax-Managed Equity Asset Allocation Fund (EAEAX) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EAEAX achieves a 9.94% return, which is significantly higher than SCHG's 4.99% return. Over the past 10 years, EAEAX has underperformed SCHG with an annualized return of 11.49%, while SCHG has yielded a comparatively higher 18.27% annualized return.

EAEAX

• 1D: 1.24%
• 1M: 0.00%
• 6M: 7.38%
• YTD: 9.94%
• 1Y: 18.80%
• 3Y*: 14.82%
• 5Y*: 8.72%
• 10Y*: 11.49%
• ALL TIME*: 8.64%

SCHG

• 1D: 1.12%
• 1M: 0.15%
• 6M: 7.02%
• YTD: 4.99%
• 1Y: 16.16%
• 3Y*: 21.39%
• 5Y*: 13.15%
• 10Y*: 18.27%
• ALL TIME*: 16.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EAEAX Eaton Vance Tax-Managed Equity Asset Allocation Fund	$0.00	$0.00	$0.00
SCHG Schwab U.S. Large-Cap Growth ETF	$247.66M	$249.87M	$339.91M

EAEAX vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EAEAX Eaton Vance Tax-Managed Equity Asset Allocation Fund	9.94%	12.06%	17.99%	20.69%	-18.19%	21.24%	15.47%	27.44%	-5.86%	19.16%
SCHG Schwab U.S. Large-Cap Growth ETF	4.99%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between EAEAX and SCHG is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.92

The correlation between EAEAX and SCHG has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

EAEAX vs. SCHG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EAEAX

EAEAX Risk / Return Rank: 52
EAEAX Sharpe Ratio Rank: 53
EAEAX Sortino Ratio Rank: 52
EAEAX Omega Ratio Rank: 50
EAEAX Calmar Ratio Rank: 45
EAEAX Martin Ratio Rank: 62

SCHG

SCHG Risk / Return Rank: 30
SCHG Sharpe Ratio Rank: 33
SCHG Sortino Ratio Rank: 31
SCHG Omega Ratio Rank: 31
SCHG Calmar Ratio Rank: 26
SCHG Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EAEAX vs. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Equity Asset Allocation Fund (EAEAX) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	EAEAX	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.36	0.82	+0.54
Sortino ratio: Return per unit of downside risk	1.95	1.20	+0.76
Omega ratio: Gain probability vs. loss probability	1.24	1.15	+0.10
Calmar ratio: Return relative to maximum drawdown	1.75	0.83	+0.92
Martin ratio: Return relative to average drawdown	7.89	2.62	+5.27

EAEAX vs. SCHG - Sharpe Ratio Comparison

The current EAEAX Sharpe Ratio is 1.36, which is higher than the SCHG Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of EAEAX and SCHG, 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

EAEAX vs. SCHG - Drawdown Comparison

The maximum EAEAX drawdown since its inception was -53.71%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for EAEAX and SCHG.

Drawdown Indicators

	EAEAX	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-53.71%	-34.59%	-19.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.37%	-16.41%	+7.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.69%	-23.39%	+5.70%
Max Drawdown (5Y) Largest decline over 5 years	-24.72%	-34.59%	+9.87%
Max Drawdown (10Y) Largest decline over 10 years	-34.74%	-34.59%	-0.15%
Current Drawdown Current decline from peak	-1.03%	-3.10%	+2.07%
Average Drawdown Average peak-to-trough decline	-7.78%	-5.19%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	5.19%	-3.11%

Volatility

EAEAX vs. SCHG - Volatility Comparison

The current volatility for Eaton Vance Tax-Managed Equity Asset Allocation Fund (EAEAX) is 2.98%, while Schwab U.S. Large-Cap Growth ETF (SCHG) has a volatility of 4.32%. This indicates that EAEAX experiences smaller price fluctuations and is considered to be less risky than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EAEAX	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	4.32%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	12.90%	-3.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	16.67%	-4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	22.42%	-6.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	21.59%	-4.76%

EAEAX vs. SCHG - Expense Ratio Comparison

EAEAX has a 1.25% expense ratio, which is higher than SCHG's 0.04% expense ratio.

Dividends

EAEAX vs. SCHG - Dividend Comparison

EAEAX's dividend yield for the trailing twelve months is around 3.90%, more than SCHG's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EAEAX Eaton Vance Tax-Managed Equity Asset Allocation Fund	3.90%	4.29%	0.80%	0.53%	0.79%	2.58%	0.57%	1.87%	2.12%	3.13%	1.10%	6.32%
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both EAEAX and SCHG in my portfolio?

EAEAX and SCHG have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EAEAX or SCHG?

SCHG has higher volatility (4.32%) compared to EAEAX (2.98%). In terms of maximum drawdown, EAEAX dropped -53.71% vs SCHG's -34.59%.

Which has better risk-adjusted returns?

EAEAX currently has the higher Sharpe Ratio (1.36 vs 0.82), 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.