EAERX vs. ETY

Last updated Jun 26, 2026

EAERX (Eaton Vance Stock Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EAERX is a Large Cap Blend Equities fund managed by Eaton Vance, while ETY is a Large Cap Growth Equities fund actively managed by Eaton Vance. Over the past 10 years, EAERX returned 15.93%/yr vs 12.63%/yr for ETY. A 0.73 correlation means they provide meaningful diversification when combined. EAERX charges 0.98%/yr vs 1.06%/yr for ETY.

Performance

EAERX vs. ETY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Stock Fund (EAERX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EAERX achieves a 2.97% return, which is significantly higher than ETY's -5.11% return. Over the past 10 years, EAERX has outperformed ETY with an annualized return of 15.93%, while ETY has yielded a comparatively lower 12.63% annualized return.

EAERX

• 1D: -0.13%
• 1M: -2.64%
• YTD: 2.97%
• 6M: 1.95%
• 1Y: 11.72%
• 3Y*: 25.92%
• 5Y*: 14.84%
• 10Y*: 15.93%

ETY

• 1D: -1.20%
• 1M: -5.53%
• YTD: -5.11%
• 6M: -4.80%
• 1Y: -1.17%
• 3Y*: 14.03%
• 5Y*: 8.51%
• 10Y*: 12.63%

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

EAERX vs. ETY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EAERX Eaton Vance Stock Fund	2.97%	13.24%	53.09%	24.22%	-16.94%	22.85%	18.22%	35.04%	-5.94%	19.90%
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund	-5.11%	11.02%	33.11%	21.83%	-21.21%	32.61%	7.27%	33.68%	-8.96%	28.72%

Correlation

The correlation between EAERX and ETY is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006	0.73

The correlation between EAERX and ETY has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.

Return for Risk

EAERX vs. ETY — Risk / Return Rank

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

EAERX

EAERX Risk / Return Rank: 17
EAERX Sharpe Ratio Rank: 16
EAERX Sortino Ratio Rank: 16
EAERX Omega Ratio Rank: 16
EAERX Calmar Ratio Rank: 15
EAERX Martin Ratio Rank: 23

ETY

ETY Risk / Return Rank: 3
ETY Sharpe Ratio Rank: 3
ETY Sortino Ratio Rank: 3
ETY Omega Ratio Rank: 3
ETY Calmar Ratio Rank: 3
ETY Martin Ratio Rank: 3

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.

EAERX vs. ETY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Stock Fund (EAERX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). 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.

	EAERX	ETY	Difference
Sharpe ratio: Return per unit of total volatility	0.92	-0.09	+1.01
Sortino ratio: Return per unit of downside risk	1.34	-0.03	+1.37
Omega ratio: Gain probability vs. loss probability	1.17	1.00	+0.17
Calmar ratio: Return relative to maximum drawdown	1.10	-0.08	+1.18
Martin ratio: Return relative to average drawdown	4.65	-0.30	+4.96

EAERX vs. ETY - Sharpe Ratio Comparison

The current EAERX Sharpe Ratio is 0.92, which is higher than the ETY Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of EAERX and ETY, 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

EAERX vs. ETY - Drawdown Comparison

The maximum EAERX drawdown since its inception was -48.72%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EAERX and ETY.

Drawdown Indicators

	EAERX	ETY	Difference
Max Drawdown Largest peak-to-trough decline	-48.72%	-53.06%	+4.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-14.40%	+3.72%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-21.28%	+2.21%
Max Drawdown (5Y) Largest decline over 5 years	-22.71%	-24.06%	+1.35%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-42.46%	+8.63%
Current Drawdown Current decline from peak	-3.26%	-7.20%	+3.94%
Average Drawdown Average peak-to-trough decline	-6.79%	-7.58%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	3.89%	-1.37%

Volatility

EAERX vs. ETY - Volatility Comparison

Eaton Vance Stock Fund (EAERX) has a higher volatility of 4.75% compared to Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) at 4.20%. This indicates that EAERX's price experiences larger fluctuations and is considered to be riskier than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EAERX	ETY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	4.20%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	10.10%	10.84%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	13.40%	-0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.56%	17.95%	+3.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.28%	19.91%	+0.37%

EAERX vs. ETY - Expense Ratio Comparison

EAERX has a 0.98% expense ratio, which is lower than ETY's 1.06% expense ratio.

Dividends

EAERX vs. ETY - Dividend Comparison

EAERX's dividend yield for the trailing twelve months is around 8.70%, more than ETY's 8.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EAERX Eaton Vance Stock Fund	8.70%	8.95%	29.39%	17.32%	14.50%	12.48%	1.96%	3.92%	12.04%	7.77%	2.87%	8.13%
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund	8.52%	7.76%	7.59%	7.92%	10.04%	7.01%	8.26%	8.08%	9.92%	8.30%	9.77%	9.03%

Frequently Asked Questions

Can I hold both EAERX and ETY in my portfolio?

EAERX and ETY have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EAERX or ETY?

EAERX has higher volatility (4.75%) compared to ETY (4.20%). In terms of maximum drawdown, EAERX dropped -48.72% vs ETY's -53.06%.

Which has better risk-adjusted returns?

EAERX currently has the higher Sharpe Ratio (0.92 vs -0.09), 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.