EIBAX vs. EIGMX
EIBAX (Eaton Vance Total Return Bond Fund) and EIGMX (Eaton Vance Global Macro Absolute Return Fund) are both mutual funds - EIBAX is a Intermediate Core-Plus Bond fund managed by Eaton Vance, while EIGMX is a Nontraditional Bonds fund managed by Eaton Vance. Over the past 10 years, EIBAX returned 3.57%/yr vs 4.96%/yr for EIGMX. At a correlation of -0.04, they often move in opposite directions. EIBAX charges 0.49%/yr vs 0.76%/yr for EIGMX.
Performance
EIBAX vs. EIGMX - Performance Comparison
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Returns By Period
In the year-to-date period, EIBAX achieves a 0.80% return, which is significantly lower than EIGMX's 4.73% return. Over the past 10 years, EIBAX has underperformed EIGMX with an annualized return of 3.57%, while EIGMX has yielded a comparatively higher 4.96% annualized return.
EIBAX
- 1D
- 0.48%
- 1M
- 0.90%
- YTD
- 0.80%
- 6M
- 1.19%
- 1Y
- 5.53%
- 3Y*
- 6.06%
- 5Y*
- 1.37%
- 10Y*
- 3.57%
EIGMX
- 1D
- -0.11%
- 1M
- 0.66%
- YTD
- 4.73%
- 6M
- 5.06%
- 1Y
- 11.83%
- 3Y*
- 8.97%
- 5Y*
- 6.30%
- 10Y*
- 4.96%
EIBAX vs. EIGMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIBAX Eaton Vance Total Return Bond Fund | 0.80% | 9.15% | 4.38% | 5.59% | -12.88% | 3.02% | 5.89% | 10.84% | -0.84% | 7.72% |
EIGMX Eaton Vance Global Macro Absolute Return Fund | 4.73% | 11.37% | 8.69% | 6.99% | -0.47% | 2.19% | 3.59% | 9.76% | -3.29% | 4.29% |
Correlation
The correlation between EIBAX and EIGMX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009 | -0.04 |
The correlation between EIBAX and EIGMX shifts across timeframes, from -0.04 (all time) to 0.17 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EIBAX vs. EIGMX — Risk / Return Rank
EIBAX
EIGMX
EIBAX vs. EIGMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Total Return Bond Fund (EIBAX) and Eaton Vance Global Macro Absolute Return Fund (EIGMX). 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.
| EIBAX | EIGMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.01 | ||
| Sortino ratioReturn per unit of downside risk | -8.11 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 3.06 | -1.81 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 8.33 | -6.59 |
| Martin ratioReturn relative to average drawdown | 5.08 | 30.15 | -25.07 |
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Drawdowns
EIBAX vs. EIGMX - Drawdown Comparison
The maximum EIBAX drawdown since its inception was -17.20%, which is greater than EIGMX's maximum drawdown of -9.42%. Use the drawdown chart below to compare losses from any high point for EIBAX and EIGMX.
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Drawdown Indicators
| EIBAX | EIGMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -9.42% | -7.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -1.44% | -1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -5.65% | -1.63% | -4.02% |
Max Drawdown (5Y)Largest decline over 5 years | -16.91% | -7.39% | -9.52% |
Max Drawdown (10Y)Largest decline over 10 years | -17.20% | -9.42% | -7.78% |
Current DrawdownCurrent decline from peak | -1.13% | -0.22% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -0.92% | -2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.40% | +0.71% |
Volatility
EIBAX vs. EIGMX - Volatility Comparison
Eaton Vance Total Return Bond Fund (EIBAX) has a higher volatility of 1.31% compared to Eaton Vance Global Macro Absolute Return Fund (EIGMX) at 0.46%. This indicates that EIBAX's price experiences larger fluctuations and is considered to be riskier than EIGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIBAX | EIGMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 0.46% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 1.64% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 1.88% | +2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 2.61% | +2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 2.50% | +2.20% |
EIBAX vs. EIGMX - Expense Ratio Comparison
EIBAX has a 0.49% expense ratio, which is lower than EIGMX's 0.76% expense ratio.
Dividends
EIBAX vs. EIGMX - Dividend Comparison
EIBAX's dividend yield for the trailing twelve months is around 5.12%, less than EIGMX's 6.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBAX Eaton Vance Total Return Bond Fund | 5.12% | 5.13% | 5.58% | 4.01% | 4.04% | 3.49% | 3.87% | 3.97% | 4.16% | 3.55% | 3.90% | 5.69% |
EIGMX Eaton Vance Global Macro Absolute Return Fund | 6.64% | 5.72% | 6.16% | 5.79% | 4.78% | 4.18% | 4.37% | 5.44% | 3.72% | 3.42% | 4.02% | 5.54% |
Frequently Asked Questions
EIBAX and EIGMX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIBAX has higher volatility (1.31%) compared to EIGMX (0.46%). In terms of maximum drawdown, EIBAX dropped -17.20% vs EIGMX's -9.42%.
EIGMX currently has the higher Sharpe Ratio (6.41 vs 1.40), 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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