ECHMX vs. EIMAX
Compare and contrast key facts about Eaton Vance National Municipal Income Fund (ECHMX) and Eaton Vance Massachusetts Municipal Income Fund (EIMAX).
ECHMX is managed by Eaton Vance. It was launched on Dec 2, 1993. EIMAX is managed by Eaton Vance. It was launched on Jun 16, 1993.
Performance
ECHMX vs. EIMAX - Performance Comparison
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ECHMX vs. EIMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECHMX Eaton Vance National Municipal Income Fund | -0.61% | 2.64% | 1.45% | 6.36% | -10.60% | 0.70% | 5.01% | 7.51% | 1.02% | 3.90% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | -0.70% | 3.76% | 1.37% | 5.06% | -9.61% | 0.57% | 4.60% | 7.01% | 0.65% | 4.67% |
Returns By Period
In the year-to-date period, ECHMX achieves a -0.61% return, which is significantly higher than EIMAX's -0.70% return. Over the past 10 years, ECHMX has outperformed EIMAX with an annualized return of 1.59%, while EIMAX has yielded a comparatively lower 1.47% annualized return.
ECHMX
- 1D
- 0.22%
- 1M
- -2.70%
- YTD
- -0.61%
- 6M
- 0.81%
- 1Y
- 2.75%
- 3Y*
- 2.29%
- 5Y*
- -0.07%
- 10Y*
- 1.59%
EIMAX
- 1D
- 0.13%
- 1M
- -2.65%
- YTD
- -0.70%
- 6M
- 0.84%
- 1Y
- 3.61%
- 3Y*
- 2.28%
- 5Y*
- 0.14%
- 10Y*
- 1.47%
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ECHMX vs. EIMAX - Expense Ratio Comparison
ECHMX has a 1.39% expense ratio, which is higher than EIMAX's 0.48% expense ratio.
Return for Risk
ECHMX vs. EIMAX — Risk / Return Rank
ECHMX
EIMAX
ECHMX vs. EIMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance National Municipal Income Fund (ECHMX) and Eaton Vance Massachusetts Municipal Income Fund (EIMAX). 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.
| ECHMX | EIMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.62 | 0.79 | -0.16 |
Sortino ratioReturn per unit of downside risk | 0.86 | 1.10 | -0.24 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.70 | 0.87 | -0.17 |
Martin ratioReturn relative to average drawdown | 1.87 | 3.04 | -1.17 |
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
| ECHMX | EIMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.79 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.03 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.35 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.56 | +0.06 |
Correlation
The correlation between ECHMX and EIMAX is 0.80, 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
ECHMX vs. EIMAX - Dividend Comparison
ECHMX's dividend yield for the trailing twelve months is around 3.03%, less than EIMAX's 3.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECHMX Eaton Vance National Municipal Income Fund | 3.03% | 3.76% | 3.29% | 2.41% | 2.27% | 1.38% | 1.92% | 2.76% | 2.86% | 2.90% | 3.07% | 3.14% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.66% | 4.52% | 4.15% | 2.39% | 2.62% | 2.01% | 2.58% | 3.46% | 3.27% | 3.41% | 3.65% | 3.70% |
Drawdowns
ECHMX vs. EIMAX - Drawdown Comparison
The maximum ECHMX drawdown since its inception was -40.96%, which is greater than EIMAX's maximum drawdown of -29.25%. Use the drawdown chart below to compare losses from any high point for ECHMX and EIMAX.
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Drawdown Indicators
| ECHMX | EIMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.96% | -29.25% | -11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -5.46% | -5.62% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -16.32% | -14.67% | -1.65% |
Max Drawdown (10Y)Largest decline over 10 years | -16.32% | -14.67% | -1.65% |
Current DrawdownCurrent decline from peak | -2.70% | -2.65% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -3.95% | -3.92% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.61% | +0.44% |
Volatility
ECHMX vs. EIMAX - Volatility Comparison
Eaton Vance National Municipal Income Fund (ECHMX) has a higher volatility of 1.25% compared to Eaton Vance Massachusetts Municipal Income Fund (EIMAX) at 1.03%. This indicates that ECHMX's price experiences larger fluctuations and is considered to be riskier than EIMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECHMX | EIMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.03% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | 1.69% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.64% | 5.75% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.56% | 4.34% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.33% | 4.19% | +0.14% |