EEIAX vs. EVFAX
EEIAX (Eaton Vance Emerging Markets Local Income Fund) and EVFAX (Eaton Vance Floating-Rate Advantage Fund Class Advisers) are both mutual funds - EEIAX is a Emerging Markets Bonds fund managed by Eaton Vance, while EVFAX is a Bank Loan fund managed by Eaton Vance. Over the past 10 years, EEIAX returned 4.69%/yr vs 4.57%/yr for EVFAX. Their 0.23 correlation means their historical movements had little consistent relationship. EEIAX charges 1.19%/yr vs 0.94%/yr for EVFAX.
Performance
EEIAX vs. EVFAX - Performance Comparison
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Returns By Period
In the year-to-date period, EEIAX achieves a 4.98% return, which is significantly higher than EVFAX's 0.38% return. Both investments have delivered pretty close results over the past 10 years, with EEIAX having a 4.69% annualized return and EVFAX not far behind at 4.57%.
EEIAX
- 1D
- 0.76%
- 1M
- -0.37%
- 6M
- 1.69%
- YTD
- 4.98%
- 1Y
- 15.41%
- 3Y*
- 8.97%
- 5Y*
- 4.35%
- 10Y*
- 4.69%
- ALL TIME*
- 4.22%
EVFAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.73%
- YTD
- 0.38%
- 1Y
- 2.04%
- 3Y*
- 5.68%
- 5Y*
- 4.51%
- 10Y*
- 4.57%
- ALL TIME*
- 4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EEIAX vs. EVFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEIAX Eaton Vance Emerging Markets Local Income Fund | 4.98% | 23.43% | -1.23% | 13.63% | -11.99% | -7.64% | 4.68% | 22.66% | -8.38% | 16.10% |
EVFAX Eaton Vance Floating-Rate Advantage Fund Class Advisers | 0.38% | 4.27% | 8.64% | 11.66% | -3.22% | 4.52% | 1.76% | 8.65% | 0.14% | 4.80% |
Correlation
The correlation between EEIAX and EVFAX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.23 |
The correlation between EEIAX and EVFAX shifts across timeframes, from 0.16 (3 years) to 0.29 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EEIAX vs. EVFAX — Risk / Return Rank
EEIAX
EVFAX
EEIAX vs. EVFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging Markets Local Income Fund (EEIAX) and Eaton Vance Floating-Rate Advantage Fund Class Advisers (EVFAX). 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.
| EEIAX | EVFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.28 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 1.07 | +1.12 |
| Martin ratioReturn relative to average drawdown | 7.76 | 3.17 | +4.59 |
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Drawdowns
EEIAX vs. EVFAX - Drawdown Comparison
The maximum EEIAX drawdown since its inception was -31.70%, smaller than the maximum EVFAX drawdown of -40.28%. Use the drawdown chart below to compare losses from any high point for EEIAX and EVFAX.
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Drawdown Indicators
| EEIAX | EVFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -40.28% | +8.58% |
Max Drawdown (1Y)Largest decline over 1 year | -7.40% | -2.33% | -5.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.40% | -3.45% | -4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -25.94% | -7.75% | -18.19% |
Max Drawdown (10Y)Largest decline over 10 years | -28.43% | -24.24% | -4.19% |
Current DrawdownCurrent decline from peak | -0.94% | -0.21% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -8.85% | -2.28% | -6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 0.78% | +1.30% |
Volatility
EEIAX vs. EVFAX - Volatility Comparison
Eaton Vance Emerging Markets Local Income Fund (EEIAX) has a higher volatility of 2.05% compared to Eaton Vance Floating-Rate Advantage Fund Class Advisers (EVFAX) at 0.24%. This indicates that EEIAX's price experiences larger fluctuations and is considered to be riskier than EVFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEIAX | EVFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 0.24% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 6.57% | 1.88% | +4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.49% | 2.47% | +5.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.23% | 3.04% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.36% | 4.41% | +3.95% |
EEIAX vs. EVFAX - Expense Ratio Comparison
EEIAX has a 1.19% expense ratio, which is higher than EVFAX's 0.94% expense ratio.
Dividends
EEIAX vs. EVFAX - Dividend Comparison
EEIAX's dividend yield for the trailing twelve months is around 10.02%, more than EVFAX's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEIAX Eaton Vance Emerging Markets Local Income Fund | 10.02% | 8.48% | 11.19% | 11.34% | 13.39% | 11.14% | 9.77% | 13.03% | 10.48% | 8.74% | 10.80% | 11.65% |
EVFAX Eaton Vance Floating-Rate Advantage Fund Class Advisers | 6.62% | 7.84% | 8.66% | 6.84% | 5.66% | 3.18% | 4.29% | 5.34% | 4.86% | 4.22% | 4.78% | 5.03% |
Frequently Asked Questions
EEIAX and EVFAX 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.
EEIAX has higher volatility (2.05%) compared to EVFAX (0.24%). In terms of maximum drawdown, EEIAX dropped -31.70% vs EVFAX's -40.28%.
EEIAX currently has the higher Sharpe Ratio (2.17 vs 1.01), 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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