EGRAX vs. EIMAX
Compare and contrast key facts about Eaton Vance Global Macro Absolute Return Advantage Fund Class A (EGRAX) and Eaton Vance Massachusetts Municipal Income Fund (EIMAX).
EGRAX is an actively managed fund by Eaton Vance. It was launched on Dec 28, 2012. EIMAX is managed by Eaton Vance. It was launched on Jun 16, 1993.
Performance
EGRAX vs. EIMAX - Performance Comparison
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EGRAX vs. EIMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EGRAX Eaton Vance Global Macro Absolute Return Advantage Fund Class A | 3.40% | 20.06% | 9.19% | 8.10% | -2.30% | 3.35% | 4.49% | 14.43% | -8.66% | 5.49% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | -0.44% | 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, EGRAX achieves a 3.40% return, which is significantly higher than EIMAX's -0.44% return. Over the past 10 years, EGRAX has outperformed EIMAX with an annualized return of 6.02%, while EIMAX has yielded a comparatively lower 1.49% annualized return.
EGRAX
- 1D
- -0.17%
- 1M
- -2.06%
- YTD
- 3.40%
- 6M
- 9.63%
- 1Y
- 18.56%
- 3Y*
- 12.71%
- 5Y*
- 8.23%
- 10Y*
- 6.02%
EIMAX
- 1D
- 0.26%
- 1M
- -2.15%
- YTD
- -0.44%
- 6M
- 0.97%
- 1Y
- 3.47%
- 3Y*
- 2.36%
- 5Y*
- 0.17%
- 10Y*
- 1.49%
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EGRAX vs. EIMAX - Expense Ratio Comparison
EGRAX has a 2.22% expense ratio, which is higher than EIMAX's 0.48% expense ratio.
Return for Risk
EGRAX vs. EIMAX — Risk / Return Rank
EGRAX
EIMAX
EGRAX vs. EIMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Global Macro Absolute Return Advantage Fund Class A (EGRAX) 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.
| EGRAX | EIMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 5.02 | 0.68 | +4.34 |
Sortino ratioReturn per unit of downside risk | 6.79 | 0.96 | +5.83 |
Omega ratioGain probability vs. loss probability | 2.33 | 1.21 | +1.12 |
Calmar ratioReturn relative to maximum drawdown | 5.73 | 0.85 | +4.88 |
Martin ratioReturn relative to average drawdown | 23.99 | 2.95 | +21.04 |
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
| EGRAX | EIMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.02 | 0.68 | +4.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.08 | 0.04 | +2.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.53 | 0.36 | +1.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 0.56 | +0.65 |
Correlation
The correlation between EGRAX and EIMAX is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
EGRAX vs. EIMAX - Dividend Comparison
EGRAX's dividend yield for the trailing twelve months is around 6.54%, more than EIMAX's 3.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EGRAX Eaton Vance Global Macro Absolute Return Advantage Fund Class A | 6.54% | 6.76% | 5.86% | 3.18% | 4.53% | 4.58% | 5.61% | 4.02% | 0.00% | 2.82% | 1.47% | 6.42% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.65% | 4.52% | 4.15% | 2.39% | 2.62% | 2.01% | 2.58% | 3.46% | 3.27% | 3.41% | 3.65% | 3.70% |
Drawdowns
EGRAX vs. EIMAX - Drawdown Comparison
The maximum EGRAX drawdown since its inception was -14.15%, smaller than the maximum EIMAX drawdown of -29.25%. Use the drawdown chart below to compare losses from any high point for EGRAX and EIMAX.
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Drawdown Indicators
| EGRAX | EIMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.15% | -29.25% | +15.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -5.62% | +2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -10.31% | -14.67% | +4.36% |
Max Drawdown (10Y)Largest decline over 10 years | -14.15% | -14.67% | +0.52% |
Current DrawdownCurrent decline from peak | -3.18% | -2.40% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -3.92% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 1.62% | -0.86% |
Volatility
EGRAX vs. EIMAX - Volatility Comparison
Eaton Vance Global Macro Absolute Return Advantage Fund Class A (EGRAX) has a higher volatility of 1.77% compared to Eaton Vance Massachusetts Municipal Income Fund (EIMAX) at 1.09%. This indicates that EGRAX'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
| EGRAX | EIMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.09% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 1.70% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 5.75% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.98% | 4.34% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.94% | 4.19% | -0.25% |