EIHMX vs. EELDX
EIHMX (Eaton Vance National Municipal Income Fund Class I) and EELDX (Eaton Vance Emerging Markets Debt Opportunities Fund) are both mutual funds - EIHMX is a Municipal Bonds fund actively managed by Eaton Vance, while EELDX is a Emerging Markets Bonds fund managed by Eaton Vance. Over the past 10 years, EIHMX returned 2.72%/yr vs 7.99%/yr for EELDX. At a 0.08 correlation, their price movements are largely independent. EIHMX charges 0.41%/yr vs 0.78%/yr for EELDX.
Performance
EIHMX vs. EELDX - Performance Comparison
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Returns By Period
In the year-to-date period, EIHMX achieves a 2.23% return, which is significantly lower than EELDX's 6.66% return. Over the past 10 years, EIHMX has underperformed EELDX with an annualized return of 2.72%, while EELDX has yielded a comparatively higher 7.99% annualized return.
EIHMX
- 1D
- 0.00%
- 1M
- 0.88%
- YTD
- 2.23%
- 6M
- 2.58%
- 1Y
- 8.14%
- 3Y*
- 4.22%
- 5Y*
- 1.14%
- 10Y*
- 2.72%
EELDX
- 1D
- 0.00%
- 1M
- 0.78%
- YTD
- 6.66%
- 6M
- 8.02%
- 1Y
- 18.98%
- 3Y*
- 15.14%
- 5Y*
- 8.09%
- 10Y*
- 7.99%
EIHMX vs. EELDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIHMX Eaton Vance National Municipal Income Fund Class I | 2.23% | 3.93% | 2.56% | 7.23% | -9.70% | 1.73% | 6.06% | 8.74% | 2.04% | 4.95% |
EELDX Eaton Vance Emerging Markets Debt Opportunities Fund | 6.66% | 15.80% | 14.87% | 11.46% | -6.14% | 1.55% | 7.44% | 18.34% | -4.27% | 13.05% |
Correlation
The correlation between EIHMX and EELDX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014 | 0.08 |
The correlation between EIHMX and EELDX shifts across timeframes, from 0.08 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EIHMX vs. EELDX — Risk / Return Rank
EIHMX
EELDX
EIHMX vs. EELDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance National Municipal Income Fund Class I (EIHMX) and Eaton Vance Emerging Markets Debt Opportunities Fund (EELDX). 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.
| EIHMX | EELDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -4.40 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 2.49 | -0.81 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 5.22 | -2.34 |
| Martin ratioReturn relative to average drawdown | 9.77 | 21.28 | -11.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EIHMX | EELDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 5.55 | -2.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 1.76 | -1.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 1.69 | -1.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 1.39 | -0.65 |
Drawdowns
EIHMX vs. EELDX - Drawdown Comparison
The maximum EIHMX drawdown since its inception was -39.87%, which is greater than EELDX's maximum drawdown of -19.12%. Use the drawdown chart below to compare losses from any high point for EIHMX and EELDX.
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Drawdown Indicators
| EIHMX | EELDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.87% | -19.12% | -20.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -3.68% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -7.26% | -3.98% | -3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -15.32% | -17.35% | +2.03% |
Max Drawdown (10Y)Largest decline over 10 years | -15.32% | -19.12% | +3.80% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -2.90% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.90% | -0.04% |
Volatility
EIHMX vs. EELDX - Volatility Comparison
Eaton Vance National Municipal Income Fund Class I (EIHMX) has a higher volatility of 1.21% compared to Eaton Vance Emerging Markets Debt Opportunities Fund (EELDX) at 0.60%. This indicates that EIHMX's price experiences larger fluctuations and is considered to be riskier than EELDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIHMX | EELDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 0.60% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 3.03% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 3.46% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.68% | 4.61% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 4.74% | -0.32% |
EIHMX vs. EELDX - Expense Ratio Comparison
EIHMX has a 0.41% expense ratio, which is lower than EELDX's 0.78% expense ratio.
Dividends
EIHMX vs. EELDX - Dividend Comparison
EIHMX's dividend yield for the trailing twelve months is around 3.97%, less than EELDX's 10.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EELDX Eaton Vance Emerging Markets Debt Opportunities Fund | 10.78% | 9.44% | 8.58% | 9.02% | 9.17% | 7.87% | 7.71% | 7.86% | 8.16% | 7.90% | 4.12% | 1.65% |
EIHMX Eaton Vance National Municipal Income Fund Class I | 3.97% | 4.99% | 4.38% | 3.21% | 3.30% | 2.40% | 2.90% | 3.88% | 3.87% | 3.90% | 4.10% | 4.12% |
Frequently Asked Questions
EIHMX and EELDX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIHMX has higher volatility (1.21%) compared to EELDX (0.60%). In terms of maximum drawdown, EIHMX dropped -39.87% vs EELDX's -19.12%.
EELDX currently has the higher Sharpe Ratio (5.55 vs 2.62), 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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