EALDX vs. ETY
EALDX (Eaton Vance Short Duration Government Income Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EALDX is a Ultrashort Bond fund managed by Eaton Vance, while ETY is a Derivative Income fund actively managed by Eaton Vance. Over the past 10 years, EALDX returned 1.92%/yr vs 12.23%/yr for ETY. Their -0.00 correlation means they have often moved in opposite directions in the past. EALDX charges 0.77%/yr vs 1.06%/yr for ETY.
Performance
EALDX vs. ETY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EALDX achieves a 0.94% return, which is significantly higher than ETY's -1.59% return. Over the past 10 years, EALDX has underperformed ETY with an annualized return of 1.92%, while ETY has yielded a comparatively higher 12.23% annualized return.
EALDX
- 1D
- 0.28%
- 1M
- -0.55%
- 6M
- 0.64%
- YTD
- 0.94%
- 1Y
- 3.17%
- 3Y*
- 4.36%
- 5Y*
- 2.15%
- 10Y*
- 1.92%
- ALL TIME*
- 2.20%
ETY
- 1D
- 1.27%
- 1M
- -0.56%
- 6M
- -1.83%
- YTD
- -1.59%
- 1Y
- 0.54%
- 3Y*
- 13.80%
- 5Y*
- 8.69%
- 10Y*
- 12.23%
- ALL TIME*
- 8.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $3.58M | $3.53M | $3.55M |
EALDX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EALDX Eaton Vance Short Duration Government Income Fund | 0.94% | 7.76% | 3.48% | 2.40% | -3.28% | -0.50% | 2.54% | 1.48% | 2.01% | 1.57% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -1.59% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between EALDX and ETY is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.17 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006 | -0.00 |
The correlation between EALDX and ETY shifts across timeframes, from -0.00 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EALDX vs. ETY — Risk / Return Rank
EALDX
ETY
EALDX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Government Income Fund (EALDX) 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.
| EALDX | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.00 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | -0.05 | +2.88 |
| Martin ratioReturn relative to average drawdown | 10.60 | -0.17 | +10.76 |
Loading charts...
Drawdowns
EALDX vs. ETY - Drawdown Comparison
The maximum EALDX drawdown since its inception was -6.12%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EALDX and ETY.
Loading charts...
Drawdown Indicators
| EALDX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.12% | -53.06% | +46.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -14.40% | +12.90% |
Max Drawdown (3Y)Largest decline over 3 years | -3.48% | -21.28% | +17.80% |
Max Drawdown (5Y)Largest decline over 5 years | -5.77% | -24.06% | +18.29% |
Max Drawdown (10Y)Largest decline over 10 years | -6.12% | -42.46% | +36.34% |
Current DrawdownCurrent decline from peak | -0.69% | -3.76% | +3.07% |
Average DrawdownAverage peak-to-trough decline | -0.62% | -7.56% | +6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 4.12% | -3.72% |
Volatility
EALDX vs. ETY - Volatility Comparison
The current volatility for Eaton Vance Short Duration Government Income Fund (EALDX) is 0.84%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 3.61%. This indicates that EALDX experiences smaller price fluctuations and is considered to be less risky than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EALDX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 3.61% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 11.33% | -9.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 13.82% | -11.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.28% | 17.98% | -14.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.52% | 19.91% | -17.39% |
EALDX vs. ETY - Expense Ratio Comparison
EALDX has a 0.77% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
EALDX vs. ETY - Dividend Comparison
EALDX's dividend yield for the trailing twelve months is around 4.97%, less than ETY's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EALDX Eaton Vance Short Duration Government Income Fund | 4.97% | 5.52% | 5.52% | 4.70% | 2.69% | 1.50% | 2.01% | 2.72% | 2.61% | 2.29% | 2.17% | 3.07% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.27% | 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
EALDX and ETY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (3.61%) compared to EALDX (0.84%). In terms of maximum drawdown, EALDX dropped -6.12% vs ETY's -53.06%.
EALDX currently has the higher Sharpe Ratio (1.55 vs -0.05), 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.
Find the right allocation for EALDX and ETY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer