EIDOX vs. ETY

Last updated Aug 1, 2026

EIDOX (Eaton Vance Emerging Markets Debt Opportunities Fund Class I) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EIDOX is a Emerging Markets Bonds fund tracking the J.P. Morgan EMB (JEMB) Hard Currency / Local Currency 50-50 Index, while ETY is a Derivative Income fund actively managed by Eaton Vance. EIDOX is passively managed, while ETY is actively managed. Over the past 10 years, EIDOX returned 7.84%/yr vs 12.23%/yr for ETY. Their 0.32 correlation means their historical movements had little consistent relationship. EIDOX charges 0.79%/yr vs 1.06%/yr for ETY.

Performance

EIDOX vs. ETY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Emerging Markets Debt Opportunities Fund Class I (EIDOX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIDOX achieves a 8.53% return, which is significantly higher than ETY's -1.59% return. Over the past 10 years, EIDOX has underperformed ETY with an annualized return of 7.84%, while ETY has yielded a comparatively higher 12.23% annualized return.

EIDOX

• 1D: 0.19%
• 1M: 0.19%
• 6M: 5.12%
• YTD: 8.53%
• 1Y: 17.46%
• 3Y*: 14.05%
• 5Y*: 8.63%
• 10Y*: 7.84%
• ALL TIME*: 8.38%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EIDOX Eaton Vance Emerging Markets Debt Opportunities Fund Class I	$0.00	$0.00	$0.00
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund	$3.58M	$3.53M	$3.55M

EIDOX vs. ETY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIDOX Eaton Vance Emerging Markets Debt Opportunities Fund Class I	8.53%	15.59%	14.78%	11.40%	-6.25%	1.52%	7.39%	18.25%	-4.28%	12.97%
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 EIDOX and ETY is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.27
Correlation (10Y) Provides a long-term view across more market conditions.	0.31
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.32

Return for Risk

EIDOX vs. ETY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EIDOX

EIDOX Risk / Return Rank: 98
EIDOX Sharpe Ratio Rank: 100
EIDOX Sortino Ratio Rank: 99
EIDOX Omega Ratio Rank: 99
EIDOX Calmar Ratio Rank: 97
EIDOX Martin Ratio Rank: 97

ETY

ETY Risk / Return Rank: 4
ETY Sharpe Ratio Rank: 4
ETY Sortino Ratio Rank: 4
ETY Omega Ratio Rank: 4
ETY Calmar Ratio Rank: 4
ETY Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EIDOX vs. ETY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging Markets Debt Opportunities Fund Class I (EIDOX) 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.

	EIDOX	ETY	Difference
Sharpe ratio: Return per unit of total volatility	5.08	-0.05	+5.13
Sortino ratio: Return per unit of downside risk	7.85	0.03	+7.82
Omega ratio: Gain probability vs. loss probability	2.33	1.00	+1.33
Calmar ratio: Return relative to maximum drawdown	4.88	-0.05	+4.93
Martin ratio: Return relative to average drawdown	19.72	-0.17	+19.89

EIDOX vs. ETY - Sharpe Ratio Comparison

The current EIDOX Sharpe Ratio is 5.08, which is higher than the ETY Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of EIDOX and ETY, 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

EIDOX vs. ETY - Drawdown Comparison

The maximum EIDOX drawdown since its inception was -19.06%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EIDOX and ETY.

Drawdown Indicators

	EIDOX	ETY	Difference
Max Drawdown Largest peak-to-trough decline	-19.06%	-53.06%	+34.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.56%	-14.40%	+10.84%
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	-21.28%	+17.31%
Max Drawdown (5Y) Largest decline over 5 years	-17.42%	-24.06%	+6.64%
Max Drawdown (10Y) Largest decline over 10 years	-19.06%	-42.46%	+23.40%
Current Drawdown Current decline from peak	-0.04%	-3.76%	+3.72%
Average Drawdown Average peak-to-trough decline	-2.43%	-7.56%	+5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	4.12%	-3.24%

Volatility

EIDOX vs. ETY - Volatility Comparison

The current volatility for Eaton Vance Emerging Markets Debt Opportunities Fund Class I (EIDOX) is 0.70%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 3.61%. This indicates that EIDOX 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.

Volatility by Period

	EIDOX	ETY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	3.61%	-2.91%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	11.33%	-8.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	13.82%	-10.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	17.98%	-13.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	19.91%	-15.20%

EIDOX vs. ETY - Expense Ratio Comparison

EIDOX has a 0.79% expense ratio, which is lower than ETY's 1.06% expense ratio.

Dividends

EIDOX vs. ETY - Dividend Comparison

EIDOX's dividend yield for the trailing twelve months is around 10.68%, more than ETY's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIDOX Eaton Vance Emerging Markets Debt Opportunities Fund Class I	10.68%	9.41%	8.52%	8.97%	9.13%	7.82%	7.66%	7.81%	8.10%	7.85%	4.10%	0.00%
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

Can I hold both EIDOX and ETY in my portfolio?

EIDOX and ETY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIDOX or ETY?

ETY has higher volatility (3.61%) compared to EIDOX (0.70%). In terms of maximum drawdown, EIDOX dropped -19.06% vs ETY's -53.06%.

Which has better risk-adjusted returns?

EIDOX currently has the higher Sharpe Ratio (5.08 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.