EALDX vs. TLDIX

Last updated Aug 1, 2026

EALDX (Eaton Vance Short Duration Government Income Fund) and TLDIX (Thornburg Ultra Short Income Fund) are both Ultrashort Bond funds. Over the past 10 years, EALDX returned 1.92%/yr vs 2.81%/yr for TLDIX. Their 0.24 correlation means their historical movements had little consistent relationship. EALDX charges 0.77%/yr vs 0.76%/yr for TLDIX.

Performance

EALDX vs. TLDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Short Duration Government Income Fund (EALDX) and Thornburg Ultra Short Income Fund (TLDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EALDX achieves a 0.94% return, which is significantly lower than TLDIX's 1.91% return. Over the past 10 years, EALDX has underperformed TLDIX with an annualized return of 1.92%, while TLDIX has yielded a comparatively higher 2.81% 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%

TLDIX

• 1D: 0.00%
• 1M: 0.16%
• 6M: 1.61%
• YTD: 1.91%
• 1Y: 3.76%
• 3Y*: 4.91%
• 5Y*: 3.48%
• 10Y*: 2.81%
• ALL TIME*: 2.53%

*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)
EALDX Eaton Vance Short Duration Government Income Fund	$0.00	$0.00	$0.00
TLDIX Thornburg Ultra Short Income Fund	$0.00	$0.00	$0.00

EALDX vs. TLDIX - 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%
TLDIX Thornburg Ultra Short Income Fund	1.91%	4.84%	5.81%	4.92%	0.00%	0.32%	3.26%	3.87%	1.90%	1.39%

Correlation

The correlation between EALDX and TLDIX is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (5Y) Shows whether the relationship held over a longer period.	0.36
Correlation (10Y) Provides a long-term view across more market conditions.	0.29
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.24

The correlation between EALDX and TLDIX shifts across timeframes, from 0.24 (all time) to 0.42 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EALDX vs. TLDIX — Risk / Return Rank

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

EALDX

EALDX Risk / Return Rank: 75
EALDX Sharpe Ratio Rank: 62
EALDX Sortino Ratio Rank: 74
EALDX Omega Ratio Rank: 74
EALDX Calmar Ratio Rank: 82
EALDX Martin Ratio Rank: 83

TLDIX

TLDIX Risk / Return Rank: 100
TLDIX Sharpe Ratio Rank: 99
TLDIX Sortino Ratio Rank: 100
TLDIX Omega Ratio Rank: 100
TLDIX Calmar Ratio Rank: 100
TLDIX Martin Ratio Rank: 100

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.

EALDX vs. TLDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Government Income Fund (EALDX) and Thornburg Ultra Short Income Fund (TLDIX). 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	TLDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	3.76	-2.22
Sortino ratio: Return per unit of downside risk	2.58	14.63	-12.05
Omega ratio: Gain probability vs. loss probability	1.33	5.05	-3.72
Calmar ratio: Return relative to maximum drawdown	2.83	17.41	-14.58
Martin ratio: Return relative to average drawdown	10.60	84.28	-73.69

EALDX vs. TLDIX - Sharpe Ratio Comparison

The current EALDX Sharpe Ratio is 1.55, which is lower than the TLDIX Sharpe Ratio of 3.76. The chart below compares the historical Sharpe Ratios of EALDX and TLDIX, 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

EALDX vs. TLDIX - Drawdown Comparison

The maximum EALDX drawdown since its inception was -6.12%, which is greater than TLDIX's maximum drawdown of -3.43%. Use the drawdown chart below to compare losses from any high point for EALDX and TLDIX.

Drawdown Indicators

	EALDX	TLDIX	Difference
Max Drawdown Largest peak-to-trough decline	-6.12%	-3.43%	-2.69%
Max Drawdown (1Y) Largest decline over 1 year	-1.50%	-0.25%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	-3.48%	-0.25%	-3.23%
Max Drawdown (5Y) Largest decline over 5 years	-5.77%	-1.39%	-4.38%
Max Drawdown (10Y) Largest decline over 10 years	-6.12%	-3.43%	-2.69%
Current Drawdown Current decline from peak	-0.69%	0.00%	-0.69%
Average Drawdown Average peak-to-trough decline	-0.62%	-0.16%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.05%	+0.35%

Volatility

EALDX vs. TLDIX - Volatility Comparison

Eaton Vance Short Duration Government Income Fund (EALDX) has a higher volatility of 0.84% compared to Thornburg Ultra Short Income Fund (TLDIX) at 0.14%. This indicates that EALDX's price experiences larger fluctuations and is considered to be riskier than TLDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EALDX	TLDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	0.14%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	0.53%	+1.68%
Volatility (1Y) Calculated over the trailing 1-year period	2.74%	1.14%	+1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.28%	1.31%	+1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.52%	1.26%	+1.26%

EALDX vs. TLDIX - Expense Ratio Comparison

EALDX has a 0.77% expense ratio, which is higher than TLDIX's 0.76% expense ratio.

Dividends

EALDX vs. TLDIX - Dividend Comparison

EALDX's dividend yield for the trailing twelve months is around 4.97%, more than TLDIX's 4.02% 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%
TLDIX Thornburg Ultra Short Income Fund	4.02%	4.89%	5.64%	4.12%	2.12%	1.53%	2.32%	2.82%	2.37%	1.62%	1.24%	0.89%

Frequently Asked Questions

Can I hold both EALDX and TLDIX in my portfolio?

EALDX and TLDIX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EALDX or TLDIX?

EALDX has higher volatility (0.84%) compared to TLDIX (0.14%). In terms of maximum drawdown, EALDX dropped -6.12% vs TLDIX's -3.43%.

Which has better risk-adjusted returns?

TLDIX currently has the higher Sharpe Ratio (3.76 vs 1.55), 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.