ECHIX vs. EVHY

Last updated Apr 1, 2026

Compare and contrast key facts about Eaton Vance High Income Opportunities Fund (ECHIX) and Eaton Vance High Yield ETF (EVHY).

ECHIX is managed by Eaton Vance. It was launched on Jun 8, 1994. EVHY is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023.

Performance

ECHIX vs. EVHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance High Income Opportunities Fund (ECHIX) and Eaton Vance High Yield ETF (EVHY). The values are adjusted to include any dividend payments, if applicable.

ECHIX vs. EVHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ECHIX Eaton Vance High Income Opportunities Fund	-1.69%	7.33%	6.12%	7.62%
EVHY Eaton Vance High Yield ETF	-0.49%	9.14%	6.39%	8.90%

Returns By Period

In the year-to-date period, ECHIX achieves a -1.69% return, which is significantly lower than EVHY's -0.49% return.

ECHIX

• 1D: 0.24%
• 1M: -2.34%
• YTD: -1.69%
• 6M: -0.34%
• 1Y: 5.08%
• 3Y*: 5.86%
• 5Y*: 3.55%
• 10Y*: 5.48%

EVHY

• 1D: 1.03%
• 1M: -1.04%
• YTD: -0.49%
• 6M: 1.36%
• 1Y: 6.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ECHIX vs. EVHY - Expense Ratio Comparison

ECHIX has a 1.65% expense ratio, which is higher than EVHY's 0.48% expense ratio.

ECHIX

Eaton Vance High Income Opportunities Fund

EVHY

Eaton Vance High Yield ETF

Return for Risk

ECHIX vs. EVHY — Risk / Return Rank

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

ECHIX

ECHIX Risk / Return Rank: 84
ECHIX Sharpe Ratio Rank: 84
ECHIX Sortino Ratio Rank: 86
ECHIX Omega Ratio Rank: 89
ECHIX Calmar Ratio Rank: 79
ECHIX Martin Ratio Rank: 84

EVHY

EVHY Risk / Return Rank: 82
EVHY Sharpe Ratio Rank: 78
EVHY Sortino Ratio Rank: 83
EVHY Omega Ratio Rank: 84
EVHY Calmar Ratio Rank: 78
EVHY Martin Ratio Rank: 88

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.

ECHIX vs. EVHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Income Opportunities Fund (ECHIX) and Eaton Vance High Yield ETF (EVHY). 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.

	ECHIX	EVHY	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.44	+0.14
Sortino ratio Return per unit of downside risk	2.28	2.19	+0.09
Omega ratio Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio Return relative to maximum drawdown	1.86	2.11	-0.25
Martin ratio Return relative to average drawdown	8.49	11.03	-2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ECHIX vs. EVHY - Sharpe Ratio Comparison

The current ECHIX Sharpe Ratio is 1.59, which is comparable to the EVHY Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of ECHIX and EVHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ECHIX	EVHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.44	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	2.17	-1.36

Correlation

The correlation between ECHIX and EVHY is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ECHIX vs. EVHY - Dividend Comparison

ECHIX's dividend yield for the trailing twelve months is around 5.05%, less than EVHY's 7.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECHIX Eaton Vance High Income Opportunities Fund	5.05%	5.37%	4.96%	4.11%	4.71%	4.18%	4.61%	13.45%	4.91%	4.51%	4.76%	5.51%
EVHY Eaton Vance High Yield ETF	7.37%	7.39%	7.66%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ECHIX vs. EVHY - Drawdown Comparison

The maximum ECHIX drawdown since its inception was -43.51%, which is greater than EVHY's maximum drawdown of -3.71%. Use the drawdown chart below to compare losses from any high point for ECHIX and EVHY.

Drawdown Indicators

	ECHIX	EVHY	Difference
Max Drawdown Largest peak-to-trough decline	-43.51%	-3.71%	-39.80%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-3.38%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-12.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.88%	—	—
Current Drawdown Current decline from peak	-2.34%	-1.34%	-1.00%
Average Drawdown Average peak-to-trough decline	-4.55%	-0.38%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.65%	-0.02%

Volatility

ECHIX vs. EVHY - Volatility Comparison

The current volatility for Eaton Vance High Income Opportunities Fund (ECHIX) is 1.35%, while Eaton Vance High Yield ETF (EVHY) has a volatility of 1.97%. This indicates that ECHIX experiences smaller price fluctuations and is considered to be less risky than EVHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECHIX	EVHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.97%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	2.62%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	4.86%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.90%	4.59%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.38%	4.59%	+1.79%