EIFAX vs. IBHE
EIFAX (Eaton Vance Floating-Rate Advantage Fund) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both funds - EIFAX is a Bank Loan fund managed by Eaton Vance, while IBHE is a High Yield Bonds fund tracking the Bloomberg 2025 Term High Yield and Income Index. Over the past 5 years, EIFAX returned 4.89%/yr vs 3.89%/yr for IBHE. At a 0.22 correlation, their price movements are largely independent. EIFAX charges 0.47%/yr vs 0.35%/yr for IBHE.
Performance
EIFAX vs. IBHE - Performance Comparison
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Returns By Period
EIFAX
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 0.48%
- 6M
- 0.96%
- 1Y
- 3.60%
- 3Y*
- 6.83%
- 5Y*
- 4.89%
- 10Y*
- 5.06%
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 2.00%
- 3Y*
- 5.93%
- 5Y*
- 3.89%
- 10Y*
- —
EIFAX vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EIFAX Eaton Vance Floating-Rate Advantage Fund | 0.48% | 4.54% | 8.91% | 11.86% | -2.98% | 5.41% | 1.90% | 2.89% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 10.32% | -4.08% | 4.40% | 4.16% | 5.49% |
Correlation
The correlation between EIFAX and IBHE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.22 |
The correlation between EIFAX and IBHE shifts across timeframes, from 0.04 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EIFAX vs. IBHE — Risk / Return Rank
EIFAX
IBHE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EIFAX vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate Advantage Fund (EIFAX) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.
| EIFAX | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.50 | ||
| Sortino ratioReturn per unit of downside risk | -4.46 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 2.32 | -0.89 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 25.02 | -23.44 |
| Martin ratioReturn relative to average drawdown | 4.76 | 98.47 | -93.71 |
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Drawdowns
EIFAX vs. IBHE - Drawdown Comparison
The maximum EIFAX drawdown since its inception was -40.28%, which is greater than IBHE's maximum drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for EIFAX and IBHE.
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Drawdown Indicators
| EIFAX | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.28% | -26.91% | -13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.29% | -0.11% | -2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.43% | -0.94% | -2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | -8.51% | +0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -24.22% | — | — |
Current DrawdownCurrent decline from peak | -0.21% | 0.00% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -1.42% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.05% | +0.71% |
Volatility
EIFAX vs. IBHE - Volatility Comparison
Eaton Vance Floating-Rate Advantage Fund (EIFAX) has a higher volatility of 0.68% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that EIFAX's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIFAX | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.00% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 0.38% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 0.74% | +1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.15% | 4.87% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 11.52% | -7.07% |
EIFAX vs. IBHE - Expense Ratio Comparison
EIFAX has a 0.47% expense ratio, which is higher than IBHE's 0.35% expense ratio.
Dividends
EIFAX vs. IBHE - Dividend Comparison
EIFAX's dividend yield for the trailing twelve months is around 7.63%, while IBHE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIFAX Eaton Vance Floating-Rate Advantage Fund | 7.63% | 8.09% | 8.91% | 7.02% | 5.92% | 4.03% | 4.51% | 5.58% | 5.10% | 4.46% | 5.02% | 5.29% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 2.29% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EIFAX and IBHE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIFAX has higher volatility (0.68%) compared to IBHE (0.00%). In terms of maximum drawdown, EIFAX dropped -40.28% vs IBHE's -26.91%.
IBHE currently has the higher Sharpe Ratio (3.89 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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