ECHMX vs. EISMX
ECHMX (Eaton Vance National Municipal Income Fund) and EISMX (Eaton Vance Atlanta Capital SMID-Cap Fund) are both mutual funds - ECHMX is a Municipal Bonds fund managed by Eaton Vance, while EISMX is a Mid Cap Growth Equities fund managed by Eaton Vance. Over the past 10 years, ECHMX returned 1.55%/yr vs 9.82%/yr for EISMX. At a correlation of -0.03, they often move in opposite directions. ECHMX charges 1.39%/yr vs 0.88%/yr for EISMX.
Performance
ECHMX vs. EISMX - Performance Comparison
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Returns By Period
In the year-to-date period, ECHMX achieves a 2.17% return, which is significantly higher than EISMX's 1.28% return. Over the past 10 years, ECHMX has underperformed EISMX with an annualized return of 1.55%, while EISMX has yielded a comparatively higher 9.82% annualized return.
ECHMX
- 1D
- 0.00%
- 1M
- 0.47%
- 6M
- 1.73%
- YTD
- 2.17%
- 1Y
- 7.17%
- 3Y*
- 3.25%
- 5Y*
- 0.05%
- 10Y*
- 1.55%
EISMX
- 1D
- 0.54%
- 1M
- 3.21%
- 6M
- -3.59%
- YTD
- 1.28%
- 1Y
- -4.77%
- 3Y*
- 6.29%
- 5Y*
- 4.27%
- 10Y*
- 9.82%
ECHMX vs. EISMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECHMX Eaton Vance National Municipal Income Fund | 2.17% | 2.64% | 1.45% | 6.36% | -10.60% | 0.70% | 5.01% | 7.51% | 1.02% | 3.90% |
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund | 1.28% | -5.66% | 17.64% | 14.01% | -8.77% | 22.02% | 11.31% | 34.37% | -5.55% | 24.71% |
Correlation
The correlation between ECHMX and EISMX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2002 | -0.03 |
The correlation between ECHMX and EISMX shifts across timeframes, from -0.03 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ECHMX vs. EISMX — Risk / Return Rank
ECHMX
EISMX
ECHMX vs. EISMX - 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 Atlanta Capital SMID-Cap Fund (EISMX). 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.
| ECHMX | EISMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +3.86 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 0.95 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.40 | +2.78 |
| Martin ratioReturn relative to average drawdown | 8.14 | -0.73 | +8.87 |
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Drawdowns
ECHMX vs. EISMX - Drawdown Comparison
The maximum ECHMX drawdown since its inception was -40.96%, smaller than the maximum EISMX drawdown of -45.32%. Use the drawdown chart below to compare losses from any high point for ECHMX and EISMX.
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Drawdown Indicators
| ECHMX | EISMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.96% | -45.32% | +4.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -14.66% | +11.74% |
Max Drawdown (3Y)Largest decline over 3 years | -7.41% | -19.39% | +11.98% |
Max Drawdown (5Y)Largest decline over 5 years | -16.32% | -19.81% | +3.49% |
Max Drawdown (10Y)Largest decline over 10 years | -16.32% | -39.95% | +23.63% |
Current DrawdownCurrent decline from peak | -0.54% | -9.97% | +9.43% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -5.85% | +1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 8.03% | -7.16% |
Volatility
ECHMX vs. EISMX - Volatility Comparison
The current volatility for Eaton Vance National Municipal Income Fund (ECHMX) is 0.55%, while Eaton Vance Atlanta Capital SMID-Cap Fund (EISMX) has a volatility of 4.73%. This indicates that ECHMX experiences smaller price fluctuations and is considered to be less risky than EISMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECHMX | EISMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 4.73% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 11.68% | -9.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 15.74% | -12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.60% | 17.15% | -12.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.35% | 18.81% | -14.46% |
ECHMX vs. EISMX - Expense Ratio Comparison
ECHMX has a 1.39% expense ratio, which is higher than EISMX's 0.88% expense ratio.
Dividends
ECHMX vs. EISMX - Dividend Comparison
ECHMX's dividend yield for the trailing twelve months is around 2.99%, less than EISMX's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECHMX Eaton Vance National Municipal Income Fund | 2.99% | 3.76% | 3.29% | 2.41% | 2.27% | 1.38% | 1.92% | 2.76% | 2.86% | 2.90% | 3.07% | 3.14% |
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund | 6.35% | 6.43% | 7.26% | 2.78% | 10.37% | 10.49% | 9.80% | 6.52% | 7.20% | 3.30% | 3.58% | 6.70% |
Frequently Asked Questions
ECHMX and EISMX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EISMX has higher volatility (4.73%) compared to ECHMX (0.55%). In terms of maximum drawdown, ECHMX dropped -40.96% vs EISMX's -45.32%.
ECHMX currently has the higher Sharpe Ratio (2.26 vs -0.37), 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.
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