EDIAX vs. EIRAX

Last updated Jun 3, 2026

EDIAX (Eaton Vance Global Income Builder Fund) and EIRAX (Eaton Vance Richard Bernstein All Asset Strategy Fund) are both mutual funds - EDIAX is a Global Allocation fund managed by Eaton Vance, while EIRAX is a Tactical Allocation fund managed by Eaton Vance. Over the past 10 years, EDIAX returned 8.71%/yr vs 6.15%/yr for EIRAX. Their correlation of 0.88 suggests significant overlap in exposure. EDIAX charges 1.17%/yr vs 0.93%/yr for EIRAX.

Performance

EDIAX vs. EIRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Global Income Builder Fund (EDIAX) and Eaton Vance Richard Bernstein All Asset Strategy Fund (EIRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EDIAX having a 7.62% return and EIRAX slightly lower at 7.56%. Over the past 10 years, EDIAX has outperformed EIRAX with an annualized return of 8.71%, while EIRAX has yielded a comparatively lower 6.15% annualized return.

EDIAX

• 1D: 0.40%
• 1M: 3.83%
• YTD: 7.62%
• 6M: 9.47%
• 1Y: 20.04%
• 3Y*: 14.74%
• 5Y*: 7.44%
• 10Y*: 8.71%

EIRAX

• 1D: 0.12%
• 1M: 2.79%
• YTD: 7.56%
• 6M: 8.62%
• 1Y: 18.05%
• 3Y*: 10.14%
• 5Y*: 3.79%
• 10Y*: 6.15%

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

EDIAX vs. EIRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDIAX Eaton Vance Global Income Builder Fund	7.62%	19.06%	7.87%	18.49%	-16.78%	15.14%	10.53%	23.50%	-8.42%	15.81%
EIRAX Eaton Vance Richard Bernstein All Asset Strategy Fund	7.56%	12.89%	7.68%	6.80%	-14.73%	7.22%	9.83%	16.28%	-7.47%	15.02%

Correlation

The correlation between EDIAX and EIRAX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.88

The correlation between EDIAX and EIRAX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

Return for Risk

EDIAX vs. EIRAX — Risk / Return Rank

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

EDIAX

EDIAX Risk / Return Rank: 50
EDIAX Sharpe Ratio Rank: 54
EDIAX Sortino Ratio Rank: 53
EDIAX Omega Ratio Rank: 51
EDIAX Calmar Ratio Rank: 41
EDIAX Martin Ratio Rank: 52

EIRAX

EIRAX Risk / Return Rank: 49
EIRAX Sharpe Ratio Rank: 52
EIRAX Sortino Ratio Rank: 51
EIRAX Omega Ratio Rank: 53
EIRAX Calmar Ratio Rank: 38
EIRAX Martin Ratio Rank: 52

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.

EDIAX vs. EIRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Global Income Builder Fund (EDIAX) and Eaton Vance Richard Bernstein All Asset Strategy Fund (EIRAX). 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.

	EDIAX	EIRAX	Difference
Sharpe ratio Return per unit of total volatility	2.16	2.13	+0.03
Sortino ratio Return per unit of downside risk	3.08	3.03	+0.05
Omega ratio Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio Return relative to maximum drawdown	2.44	2.36	+0.07
Martin ratio Return relative to average drawdown	10.75	10.69	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDIAX vs. EIRAX - Sharpe Ratio Comparison

The current EDIAX Sharpe Ratio is 2.16, which is comparable to the EIRAX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of EDIAX and EIRAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EDIAX	EIRAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.13	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.43	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.68	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.68	-0.30

Drawdowns

EDIAX vs. EIRAX - Drawdown Comparison

The maximum EDIAX drawdown since its inception was -51.79%, which is greater than EIRAX's maximum drawdown of -19.85%. Use the drawdown chart below to compare losses from any high point for EDIAX and EIRAX.

Drawdown Indicators

	EDIAX	EIRAX	Difference
Max Drawdown Largest peak-to-trough decline	-51.79%	-19.85%	-31.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-7.73%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-10.74%	-8.71%	-2.03%
Max Drawdown (5Y) Largest decline over 5 years	-23.86%	-19.85%	-4.01%
Max Drawdown (10Y) Largest decline over 10 years	-30.57%	-19.85%	-10.72%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.18%	-3.82%	-6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.71%	+0.20%

Volatility

EDIAX vs. EIRAX - Volatility Comparison

Eaton Vance Global Income Builder Fund (EDIAX) has a higher volatility of 3.11% compared to Eaton Vance Richard Bernstein All Asset Strategy Fund (EIRAX) at 2.74%. This indicates that EDIAX's price experiences larger fluctuations and is considered to be riskier than EIRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDIAX	EIRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.74%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	7.83%	7.25%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	9.59%	8.60%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.54%	8.80%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.09%	9.10%	+2.99%

EDIAX vs. EIRAX - Expense Ratio Comparison

EDIAX has a 1.17% expense ratio, which is higher than EIRAX's 0.93% expense ratio.

Dividends

EDIAX vs. EIRAX - Dividend Comparison

EDIAX's dividend yield for the trailing twelve months is around 4.91%, more than EIRAX's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDIAX Eaton Vance Global Income Builder Fund	4.91%	4.12%	7.64%	3.36%	3.54%	4.07%	3.15%	3.36%	4.00%	3.24%	3.63%	3.94%
EIRAX Eaton Vance Richard Bernstein All Asset Strategy Fund	2.60%	2.80%	2.35%	2.58%	1.11%	5.68%	3.13%	7.42%	2.98%	2.35%	0.73%	1.59%

Frequently Asked Questions

Can I hold both EDIAX and EIRAX in my portfolio?

With a correlation of 0.93, EDIAX and EIRAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EDIAX or EIRAX?

EDIAX has higher volatility (3.11%) compared to EIRAX (2.74%). In terms of maximum drawdown, EDIAX dropped -51.79% vs EIRAX's -19.85%.

Which has better risk-adjusted returns?

EDIAX currently has the higher Sharpe Ratio (2.16 vs 2.13), 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.