EIBAX vs. EVTR

Last updated Jun 24, 2026

EIBAX (Eaton Vance Total Return Bond Fund) and EVTR (Eaton Vance Total Return Bond ETF) are both Intermediate Core-Plus Bond funds from Eaton Vance. Over the past year, EIBAX returned 5.33% vs 5.00% for EVTR. Their correlation of 0.87 suggests significant overlap in exposure. EIBAX charges 0.49%/yr vs 0.32%/yr for EVTR.

Performance

EIBAX vs. EVTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Total Return Bond Fund (EIBAX) and Eaton Vance Total Return Bond ETF (EVTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIBAX achieves a 0.23% return, which is significantly lower than EVTR's 0.51% return.

EIBAX

• 1D: -0.29%
• 1M: 0.80%
• YTD: 0.23%
• 6M: 0.80%
• 1Y: 5.33%
• 3Y*: 5.86%
• 5Y*: 1.22%
• 10Y*: 3.51%

EVTR

• 1D: 0.00%
• 1M: 0.72%
• YTD: 0.51%
• 6M: 0.67%
• 1Y: 5.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EIBAX vs. EVTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EIBAX Eaton Vance Total Return Bond Fund	0.23%	9.15%	4.21%
EVTR Eaton Vance Total Return Bond ETF	0.51%	8.10%	4.03%

Correlation

The correlation between EIBAX and EVTR is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Mar 25, 2024	0.87

The correlation between EIBAX and EVTR has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

EIBAX vs. EVTR — Risk / Return Rank

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

EIBAX

EIBAX Risk / Return Rank: 26
EIBAX Sharpe Ratio Rank: 27
EIBAX Sortino Ratio Rank: 29
EIBAX Omega Ratio Rank: 26
EIBAX Calmar Ratio Rank: 24
EIBAX Martin Ratio Rank: 22

EVTR

EVTR Risk / Return Rank: 38
EVTR Sharpe Ratio Rank: 40
EVTR Sortino Ratio Rank: 41
EVTR Omega Ratio Rank: 38
EVTR Calmar Ratio Rank: 37
EVTR Martin Ratio Rank: 36

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.

EIBAX vs. EVTR - 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 Total Return Bond ETF (EVTR). 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	EVTR	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.36	+0.02
Sortino ratio: Return per unit of downside risk	2.08	2.01	+0.07
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	1.70	1.75	-0.05
Martin ratio: Return relative to average drawdown	5.02	5.29	-0.27

EIBAX vs. EVTR - Sharpe Ratio Comparison

The current EIBAX Sharpe Ratio is 1.38, which is comparable to the EVTR Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of EIBAX and EVTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EIBAX vs. EVTR - Drawdown Comparison

The maximum EIBAX drawdown since its inception was -17.20%, which is greater than EVTR's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for EIBAX and EVTR.

Drawdown Indicators

	EIBAX	EVTR	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-4.08%	-13.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.26%	-2.86%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-5.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-17.20%	—	—
Current Drawdown Current decline from peak	-1.69%	-1.22%	-0.47%
Average Drawdown Average peak-to-trough decline	-3.50%	-0.97%	-2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.95%	+0.15%

Volatility

EIBAX vs. EVTR - Volatility Comparison

Eaton Vance Total Return Bond Fund (EIBAX) and Eaton Vance Total Return Bond ETF (EVTR) have volatilities of 1.24% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIBAX	EVTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	1.24%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.16%	2.92%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	3.70%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	4.32%	+1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	4.32%	+0.38%

EIBAX vs. EVTR - Expense Ratio Comparison

EIBAX has a 0.49% expense ratio, which is higher than EVTR's 0.32% expense ratio.

Dividends

EIBAX vs. EVTR - Dividend Comparison

EIBAX's dividend yield for the trailing twelve months is around 5.15%, more than EVTR's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIBAX Eaton Vance Total Return Bond Fund	5.15%	5.13%	5.58%	4.01%	4.04%	3.49%	3.87%	3.97%	4.16%	3.55%	3.90%	5.69%
EVTR Eaton Vance Total Return Bond ETF	4.67%	4.51%	4.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EIBAX and EVTR in my portfolio?

EIBAX and EVTR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIBAX or EVTR?

EVTR has higher volatility (1.24%) compared to EIBAX (1.24%). In terms of maximum drawdown, EIBAX dropped -17.20% vs EVTR's -4.08%.

Which has better risk-adjusted returns?

EIBAX currently has the higher Sharpe Ratio (1.38 vs 1.36), 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.