EIGIX vs. EIMAX
EIGIX (Eaton Vance Core Bond Fund) and EIMAX (Eaton Vance Massachusetts Municipal Income Fund) are both mutual funds - EIGIX is a Intermediate Core-Plus Bond fund managed by Eaton Vance, while EIMAX is a Municipal Bonds fund managed by Eaton Vance. Over the past 10 years, EIGIX returned 2.15%/yr vs 1.46%/yr for EIMAX. A 0.51 correlation means they provide meaningful diversification when combined. EIGIX charges 0.49%/yr vs 0.48%/yr for EIMAX.
Performance
EIGIX vs. EIMAX - Performance Comparison
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Returns By Period
In the year-to-date period, EIGIX achieves a -0.10% return, which is significantly lower than EIMAX's 1.63% return. Over the past 10 years, EIGIX has outperformed EIMAX with an annualized return of 2.15%, while EIMAX has yielded a comparatively lower 1.46% annualized return.
EIGIX
- 1D
- -0.35%
- 1M
- 0.71%
- YTD
- -0.10%
- 6M
- 0.37%
- 1Y
- 4.05%
- 3Y*
- 4.58%
- 5Y*
- 0.36%
- 10Y*
- 2.15%
EIMAX
- 1D
- -0.13%
- 1M
- 1.60%
- YTD
- 1.63%
- 6M
- 2.07%
- 1Y
- 6.84%
- 3Y*
- 3.24%
- 5Y*
- 0.38%
- 10Y*
- 1.46%
EIGIX vs. EIMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIGIX Eaton Vance Core Bond Fund | -0.10% | 7.76% | 2.90% | 5.03% | -13.13% | 0.72% | 8.18% | 9.84% | -0.50% | 4.47% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 1.63% | 3.76% | 1.37% | 5.06% | -9.61% | 0.57% | 4.60% | 7.01% | 0.65% | 4.67% |
Correlation
The correlation between EIGIX and EIMAX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.51 |
The correlation between EIGIX and EIMAX shifts across timeframes, from 0.51 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EIGIX vs. EIMAX — Risk / Return Rank
EIGIX
EIMAX
EIGIX vs. EIMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Core Bond Fund (EIGIX) and Eaton Vance Massachusetts Municipal Income Fund (EIMAX). 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.
| EIGIX | EIMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.63 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 2.53 | -1.17 |
| Martin ratioReturn relative to average drawdown | 3.95 | 8.55 | -4.60 |
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Drawdowns
EIGIX vs. EIMAX - Drawdown Comparison
The maximum EIGIX drawdown since its inception was -17.71%, smaller than the maximum EIMAX drawdown of -29.25%. Use the drawdown chart below to compare losses from any high point for EIGIX and EIMAX.
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Drawdown Indicators
| EIGIX | EIMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.71% | -29.25% | +11.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -2.77% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -6.22% | -6.83% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -17.71% | -14.67% | -3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -17.71% | -14.67% | -3.04% |
Current DrawdownCurrent decline from peak | -1.80% | -0.36% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -3.90% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.82% | +0.27% |
Volatility
EIGIX vs. EIMAX - Volatility Comparison
Eaton Vance Core Bond Fund (EIGIX) has a higher volatility of 1.20% compared to Eaton Vance Massachusetts Municipal Income Fund (EIMAX) at 0.83%. This indicates that EIGIX's price experiences larger fluctuations and is considered to be riskier than EIMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIGIX | EIMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.83% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.09% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 2.88% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.58% | 4.38% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 4.21% | +0.52% |
EIGIX vs. EIMAX - Expense Ratio Comparison
EIGIX has a 0.49% expense ratio, which is higher than EIMAX's 0.48% expense ratio.
Dividends
EIGIX vs. EIMAX - Dividend Comparison
EIGIX's dividend yield for the trailing twelve months is around 4.25%, more than EIMAX's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIGIX Eaton Vance Core Bond Fund | 4.25% | 4.16% | 4.29% | 2.85% | 3.10% | 3.53% | 5.38% | 4.00% | 3.25% | 2.83% | 2.76% | 2.96% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.60% | 4.52% | 4.15% | 2.39% | 2.62% | 2.01% | 2.58% | 3.46% | 3.27% | 3.41% | 3.65% | 3.70% |
Frequently Asked Questions
EIGIX and EIMAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIGIX has higher volatility (1.20%) compared to EIMAX (0.83%). In terms of maximum drawdown, EIGIX dropped -17.71% vs EIMAX's -29.25%.
EIMAX currently has the higher Sharpe Ratio (2.44 vs 1.07), 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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