EAEAX vs. SPY
Compare and contrast key facts about Eaton Vance Tax-Managed Equity Asset Allocation Fund (EAEAX) and State Street SPDR S&P 500 ETF (SPY).
EAEAX is managed by BlackRock. It was launched on Mar 3, 2002. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
EAEAX vs. SPY - Performance Comparison
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EAEAX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EAEAX Eaton Vance Tax-Managed Equity Asset Allocation Fund | -6.63% | 12.06% | 17.99% | 20.69% | -18.19% | 21.24% | 15.47% | 27.44% | -5.86% | 19.16% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, EAEAX achieves a -6.63% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, EAEAX has underperformed SPY with an annualized return of 10.18%, while SPY has yielded a comparatively higher 13.98% annualized return.
EAEAX
- 1D
- -0.25%
- 1M
- -8.13%
- YTD
- -6.63%
- 6M
- -4.39%
- 1Y
- 8.28%
- 3Y*
- 12.12%
- 5Y*
- 7.03%
- 10Y*
- 10.18%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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EAEAX vs. SPY - Expense Ratio Comparison
EAEAX has a 1.25% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
EAEAX vs. SPY — Risk / Return Rank
EAEAX
SPY
EAEAX vs. SPY - 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 State Street SPDR S&P 500 ETF (SPY). 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.
| EAEAX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 0.93 | -0.39 |
Sortino ratioReturn per unit of downside risk | 0.88 | 1.45 | -0.58 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.22 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.58 | 1.53 | -0.94 |
Martin ratioReturn relative to average drawdown | 2.62 | 7.30 | -4.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EAEAX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 0.93 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.69 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.78 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.56 | -0.13 |
Correlation
The correlation between EAEAX and SPY is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EAEAX vs. SPY - Dividend Comparison
EAEAX's dividend yield for the trailing twelve months is around 4.60%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EAEAX Eaton Vance Tax-Managed Equity Asset Allocation Fund | 4.60% | 4.29% | 0.80% | 0.53% | 0.79% | 2.58% | 0.57% | 1.87% | 2.12% | 3.13% | 1.10% | 6.32% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
EAEAX vs. SPY - Drawdown Comparison
The maximum EAEAX drawdown since its inception was -53.71%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EAEAX and SPY.
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Drawdown Indicators
| EAEAX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.71% | -55.19% | +1.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.67% | -12.05% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -24.72% | -24.50% | -0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -34.74% | -33.72% | -1.02% |
Current DrawdownCurrent decline from peak | -9.37% | -6.24% | -3.13% |
Average DrawdownAverage peak-to-trough decline | -7.87% | -9.09% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.52% | +0.08% |
Volatility
EAEAX vs. SPY - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Equity Asset Allocation Fund (EAEAX) is 4.15%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that EAEAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EAEAX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 5.31% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 9.47% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.71% | 19.05% | -2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.61% | 17.06% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.80% | 17.92% | -1.12% |