EIGMX vs. PMZIX
EIGMX (Eaton Vance Global Macro Absolute Return Fund) and PMZIX (PIMCO Mortgage Opportunities and Bond Fund) are both Nontraditional Bonds funds. Over the past 10 years, EIGMX returned 4.98%/yr vs 3.52%/yr for PMZIX. At a correlation of -0.04, they often move in opposite directions. EIGMX charges 0.76%/yr vs 0.60%/yr for PMZIX.
Performance
EIGMX vs. PMZIX - Performance Comparison
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Returns By Period
In the year-to-date period, EIGMX achieves a 4.96% return, which is significantly higher than PMZIX's 0.39% return. Over the past 10 years, EIGMX has outperformed PMZIX with an annualized return of 4.98%, while PMZIX has yielded a comparatively lower 3.52% annualized return.
EIGMX
- 1D
- 0.11%
- 1M
- 1.00%
- YTD
- 4.96%
- 6M
- 5.41%
- 1Y
- 12.47%
- 3Y*
- 9.05%
- 5Y*
- 6.34%
- 10Y*
- 4.98%
PMZIX
- 1D
- -0.22%
- 1M
- 0.35%
- YTD
- 0.39%
- 6M
- 0.87%
- 1Y
- 5.08%
- 3Y*
- 6.25%
- 5Y*
- 2.85%
- 10Y*
- 3.52%
EIGMX vs. PMZIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIGMX Eaton Vance Global Macro Absolute Return Fund | 4.96% | 11.37% | 8.69% | 6.99% | -0.47% | 2.19% | 3.59% | 9.76% | -3.29% | 4.29% |
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 0.39% | 8.50% | 5.74% | 7.03% | -8.00% | 2.42% | 5.44% | 5.04% | 1.55% | 5.50% |
Correlation
The correlation between EIGMX and PMZIX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | -0.04 |
The correlation between EIGMX and PMZIX shifts across timeframes, from -0.04 (all time) to 0.15 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EIGMX vs. PMZIX — Risk / Return Rank
EIGMX
PMZIX
EIGMX vs. PMZIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Global Macro Absolute Return Fund (EIGMX) and PIMCO Mortgage Opportunities and Bond Fund (PMZIX). 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.
| EIGMX | PMZIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.10 | ||
| Sortino ratioReturn per unit of downside risk | +8.22 | ||
| Omega ratioGain probability vs. loss probability | 3.23 | 1.32 | +1.91 |
| Calmar ratioReturn relative to maximum drawdown | 8.68 | 2.21 | +6.47 |
| Martin ratioReturn relative to average drawdown | 31.46 | 7.76 | +23.70 |
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Drawdowns
EIGMX vs. PMZIX - Drawdown Comparison
The maximum EIGMX drawdown since its inception was -9.42%, smaller than the maximum PMZIX drawdown of -10.44%. Use the drawdown chart below to compare losses from any high point for EIGMX and PMZIX.
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Drawdown Indicators
| EIGMX | PMZIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.42% | -10.44% | +1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -2.42% | +0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -1.63% | -3.53% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -7.39% | -10.44% | +3.05% |
Max Drawdown (10Y)Largest decline over 10 years | -9.42% | -10.44% | +1.02% |
Current DrawdownCurrent decline from peak | 0.00% | -1.20% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -1.18% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.69% | -0.29% |
Volatility
EIGMX vs. PMZIX - Volatility Comparison
The current volatility for Eaton Vance Global Macro Absolute Return Fund (EIGMX) is 0.44%, while PIMCO Mortgage Opportunities and Bond Fund (PMZIX) has a volatility of 1.18%. This indicates that EIGMX experiences smaller price fluctuations and is considered to be less risky than PMZIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIGMX | PMZIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 1.18% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 2.54% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 3.37% | -1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.61% | 3.87% | -1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.50% | 3.24% | -0.74% |
EIGMX vs. PMZIX - Expense Ratio Comparison
EIGMX has a 0.76% expense ratio, which is higher than PMZIX's 0.60% expense ratio.
Dividends
EIGMX vs. PMZIX - Dividend Comparison
EIGMX's dividend yield for the trailing twelve months is around 6.63%, more than PMZIX's 5.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIGMX Eaton Vance Global Macro Absolute Return Fund | 6.63% | 5.72% | 6.16% | 5.79% | 4.78% | 4.18% | 4.37% | 5.44% | 3.72% | 3.42% | 4.02% | 5.54% |
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 5.56% | 5.84% | 7.59% | 6.74% | 5.87% | 3.99% | 3.96% | 4.38% | 4.34% | 3.62% | 5.24% | 4.08% |
Frequently Asked Questions
EIGMX and PMZIX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMZIX has higher volatility (1.18%) compared to EIGMX (0.44%). In terms of maximum drawdown, EIGMX dropped -9.42% vs PMZIX's -10.44%.
EIGMX currently has the higher Sharpe Ratio (6.69 vs 1.59), 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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