EIGMX vs. DFLEX

Last updated Jun 6, 2026

EIGMX (Eaton Vance Global Macro Absolute Return Fund) and DFLEX (DoubleLine Flexible Income Fund) are both Nontraditional Bonds funds. Over the past 10 years, EIGMX returned 4.94%/yr vs 3.75%/yr for DFLEX. At a 0.09 correlation, their price movements are largely independent. EIGMX charges 0.76%/yr vs 0.74%/yr for DFLEX.

Performance

EIGMX vs. DFLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Global Macro Absolute Return Fund (EIGMX) and DoubleLine Flexible Income Fund (DFLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIGMX achieves a 4.38% return, which is significantly higher than DFLEX's 1.61% return. Over the past 10 years, EIGMX has outperformed DFLEX with an annualized return of 4.94%, while DFLEX has yielded a comparatively lower 3.75% annualized return.

EIGMX

• 1D: 0.11%
• 1M: 0.44%
• YTD: 4.38%
• 6M: 5.18%
• 1Y: 12.11%
• 3Y*: 9.33%
• 5Y*: 6.25%
• 10Y*: 4.94%

DFLEX

• 1D: 0.11%
• 1M: 0.22%
• YTD: 1.61%
• 6M: 2.06%
• 1Y: 5.54%
• 3Y*: 7.49%
• 5Y*: 3.21%
• 10Y*: 3.75%

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

EIGMX vs. DFLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIGMX Eaton Vance Global Macro Absolute Return Fund	4.38%	11.37%	8.69%	6.99%	-0.47%	2.19%	3.59%	9.76%	-3.29%	4.29%
DFLEX DoubleLine Flexible Income Fund	1.61%	6.58%	8.65%	7.84%	-8.48%	3.79%	2.93%	7.21%	0.10%	5.27%

Correlation

The correlation between EIGMX and DFLEX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Apr 9, 2014	0.09

The correlation between EIGMX and DFLEX shifts across timeframes, from 0.08 (10 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EIGMX vs. DFLEX — Risk / Return Rank

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

EIGMX

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

DFLEX

DFLEX Risk / Return Rank: 98
DFLEX Sharpe Ratio Rank: 99
DFLEX Sortino Ratio Rank: 98
DFLEX Omega Ratio Rank: 98
DFLEX Calmar Ratio Rank: 96
DFLEX Martin Ratio Rank: 97

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.

EIGMX vs. DFLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Global Macro Absolute Return Fund (EIGMX) and DoubleLine Flexible Income Fund (DFLEX). 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.

	EIGMX	DFLEX	Difference
Sharpe ratio: Return per unit of total volatility	6.67	4.24	+2.42
Sortino ratio: Return per unit of downside risk	10.67	7.49	+3.18
Omega ratio: Gain probability vs. loss probability	3.29	2.29	+1.00
Calmar ratio: Return relative to maximum drawdown	8.52	6.10	+2.42
Martin ratio: Return relative to average drawdown	30.92	27.53	+3.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIGMX vs. DFLEX - Sharpe Ratio Comparison

The current EIGMX Sharpe Ratio is 6.67, which is higher than the DFLEX Sharpe Ratio of 4.24. The chart below compares the historical Sharpe Ratios of EIGMX and DFLEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EIGMX	DFLEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.67	4.24	+2.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.40	1.67	+0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.98	1.38	+0.60
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.38	+0.22

Drawdowns

EIGMX vs. DFLEX - Drawdown Comparison

The maximum EIGMX drawdown since its inception was -9.42%, smaller than the maximum DFLEX drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for EIGMX and DFLEX.

Drawdown Indicators

	EIGMX	DFLEX	Difference
Max Drawdown Largest peak-to-trough decline	-9.42%	-17.29%	+7.87%
Max Drawdown (1Y) Largest decline over 1 year	-1.44%	-0.91%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-1.63%	-1.15%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	-7.39%	-11.00%	+3.61%
Max Drawdown (10Y) Largest decline over 10 years	-9.42%	-17.29%	+7.87%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.92%	-1.55%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.20%	+0.20%

Volatility

EIGMX vs. DFLEX - Volatility Comparison

The current volatility for Eaton Vance Global Macro Absolute Return Fund (EIGMX) is 0.41%, while DoubleLine Flexible Income Fund (DFLEX) has a volatility of 0.45%. This indicates that EIGMX experiences smaller price fluctuations and is considered to be less risky than DFLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIGMX	DFLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	0.45%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.61%	1.00%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	1.85%	1.31%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.61%	1.93%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.50%	2.73%	-0.23%

EIGMX vs. DFLEX - Expense Ratio Comparison

EIGMX has a 0.76% expense ratio, which is higher than DFLEX's 0.74% expense ratio.

Dividends

EIGMX vs. DFLEX - Dividend Comparison

EIGMX's dividend yield for the trailing twelve months is around 6.66%, more than DFLEX's 5.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLEX DoubleLine Flexible Income Fund	5.54%	5.68%	6.05%	5.95%	4.72%	3.86%	3.96%	4.46%	4.46%	3.82%	3.75%	4.32%
EIGMX Eaton Vance Global Macro Absolute Return Fund	6.66%	5.72%	6.16%	5.79%	4.78%	4.18%	4.37%	5.44%	3.72%	3.42%	4.02%	5.54%

Frequently Asked Questions

Can I hold both EIGMX and DFLEX in my portfolio?

EIGMX and DFLEX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIGMX or DFLEX?

DFLEX has higher volatility (0.45%) compared to EIGMX (0.41%). In terms of maximum drawdown, EIGMX dropped -9.42% vs DFLEX's -17.29%.

Which has better risk-adjusted returns?

EIGMX currently has the higher Sharpe Ratio (6.67 vs 4.24), 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.