EIBSX vs. ETY
EIBSX (Parametric TABS Short-Term Municipal Bond Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EIBSX is a Municipal Bonds fund managed by Eaton Vance, while ETY is a Derivative Income fund actively managed by Eaton Vance. Over the past 10 years, EIBSX returned 1.89%/yr vs 12.23%/yr for ETY. Their -0.05 correlation means they have often moved in opposite directions in the past. EIBSX charges 0.55%/yr vs 1.06%/yr for ETY.
Performance
EIBSX vs. ETY - Performance Comparison
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Returns By Period
In the year-to-date period, EIBSX achieves a 0.31% return, which is significantly higher than ETY's -1.59% return. Over the past 10 years, EIBSX has underperformed ETY with an annualized return of 1.89%, while ETY has yielded a comparatively higher 12.23% annualized return.
EIBSX
- 1D
- -0.20%
- 1M
- -1.27%
- 6M
- -0.43%
- YTD
- 0.31%
- 1Y
- 3.41%
- 3Y*
- 3.87%
- 5Y*
- 1.55%
- 10Y*
- 1.89%
- ALL TIME*
- 2.30%
ETY
- 1D
- 1.27%
- 1M
- -0.56%
- 6M
- -1.83%
- YTD
- -1.59%
- 1Y
- 0.54%
- 3Y*
- 13.80%
- 5Y*
- 8.69%
- 10Y*
- 12.23%
- ALL TIME*
- 8.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $3.58M | $3.53M | $3.55M |
EIBSX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIBSX Parametric TABS Short-Term Municipal Bond Fund | 0.31% | 6.85% | 2.14% | 4.24% | -4.76% | -0.09% | 5.95% | 4.56% | 0.69% | 2.32% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -1.59% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between EIBSX and ETY is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2009 | -0.05 |
The correlation between EIBSX and ETY shifts across timeframes, from -0.05 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EIBSX vs. ETY — Risk / Return Rank
EIBSX
ETY
EIBSX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric TABS Short-Term Municipal Bond Fund (EIBSX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). 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.
| EIBSX | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +3.20 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.00 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | -0.05 | +2.00 |
| Martin ratioReturn relative to average drawdown | 6.13 | -0.17 | +6.29 |
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Drawdowns
EIBSX vs. ETY - Drawdown Comparison
The maximum EIBSX drawdown since its inception was -9.75%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EIBSX and ETY.
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Drawdown Indicators
| EIBSX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.75% | -53.06% | +43.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -14.40% | +12.28% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -21.28% | +17.72% |
Max Drawdown (5Y)Largest decline over 5 years | -8.99% | -24.06% | +15.07% |
Max Drawdown (10Y)Largest decline over 10 years | -9.75% | -42.46% | +32.71% |
Current DrawdownCurrent decline from peak | -1.46% | -3.76% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -7.56% | +6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 4.12% | -3.45% |
Volatility
EIBSX vs. ETY - Volatility Comparison
The current volatility for Parametric TABS Short-Term Municipal Bond Fund (EIBSX) is 0.65%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 3.61%. This indicates that EIBSX experiences smaller price fluctuations and is considered to be less risky than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIBSX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 3.61% | -2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 11.33% | -9.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 13.82% | -11.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 17.98% | -15.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.02% | 19.91% | -16.89% |
EIBSX vs. ETY - Expense Ratio Comparison
EIBSX has a 0.55% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
EIBSX vs. ETY - Dividend Comparison
EIBSX's dividend yield for the trailing twelve months is around 2.98%, less than ETY's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBSX Parametric TABS Short-Term Municipal Bond Fund | 2.98% | 4.18% | 3.81% | 2.14% | 1.62% | 1.41% | 3.17% | 2.05% | 1.75% | 1.63% | 2.15% | 2.08% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.27% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
Frequently Asked Questions
EIBSX and ETY have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (3.61%) compared to EIBSX (0.65%). In terms of maximum drawdown, EIBSX dropped -9.75% vs ETY's -53.06%.
EIBSX currently has the higher Sharpe Ratio (2.06 vs -0.05), 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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