EIMAX vs. E
EIMAX (Eaton Vance Massachusetts Municipal Income Fund) is Municipal Bonds fund managed by Eaton Vance, while E (Eni S.p.A.) is a stock. Over the past 10 years, EIMAX returned 1.52%/yr vs 11.61%/yr for E. At a correlation of -0.03, they often move in opposite directions.
Performance
EIMAX vs. E - Performance Comparison
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Returns By Period
In the year-to-date period, EIMAX achieves a 1.76% return, which is significantly lower than E's 33.21% return. Over the past 10 years, EIMAX has underperformed E with an annualized return of 1.52%, while E has yielded a comparatively higher 11.61% annualized return.
EIMAX
- 1D
- 0.13%
- 1M
- 1.73%
- YTD
- 1.76%
- 6M
- 2.20%
- 1Y
- 7.12%
- 3Y*
- 3.32%
- 5Y*
- 0.38%
- 10Y*
- 1.52%
E
- 1D
- 0.92%
- 1M
- -9.17%
- YTD
- 33.21%
- 6M
- 33.77%
- 1Y
- 58.57%
- 3Y*
- 29.01%
- 5Y*
- 22.66%
- 10Y*
- 11.61%
EIMAX vs. E - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 1.76% | 3.76% | 1.37% | 5.06% | -9.61% | 0.57% | 4.60% | 7.01% | 0.65% | 4.67% |
E Eni S.p.A. | 33.21% | 48.40% | -13.95% | 26.73% | 10.92% | 43.12% | -28.73% | 4.29% | -0.98% | 7.27% |
Correlation
The correlation between EIMAX and E is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 1995 | -0.03 |
The correlation between EIMAX and E shifts across timeframes, from -0.10 (1 year) to 0.00 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EIMAX vs. E — Risk / Return Rank
EIMAX
E
EIMAX vs. E - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Massachusetts Municipal Income Fund (EIMAX) and Eni S.p.A. (E). 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.
| EIMAX | E | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.41 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 4.18 | -1.61 |
| Martin ratioReturn relative to average drawdown | 8.72 | 17.75 | -9.02 |
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Drawdowns
EIMAX vs. E - Drawdown Comparison
The maximum EIMAX drawdown since its inception was -29.25%, smaller than the maximum E drawdown of -70.53%. Use the drawdown chart below to compare losses from any high point for EIMAX and E.
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Drawdown Indicators
| EIMAX | E | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.25% | -70.53% | +41.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -14.07% | +11.30% |
Max Drawdown (3Y)Largest decline over 3 years | -6.83% | -20.13% | +13.30% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -33.71% | +19.04% |
Max Drawdown (10Y)Largest decline over 10 years | -14.67% | -61.59% | +46.92% |
Current DrawdownCurrent decline from peak | -0.24% | -13.28% | +13.04% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -23.06% | +19.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 3.33% | -2.51% |
Volatility
EIMAX vs. E - Volatility Comparison
The current volatility for Eaton Vance Massachusetts Municipal Income Fund (EIMAX) is 0.80%, while Eni S.p.A. (E) has a volatility of 7.16%. This indicates that EIMAX experiences smaller price fluctuations and is considered to be less risky than E based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIMAX | E | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 7.16% | -6.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 20.09% | -18.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.87% | 23.33% | -20.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.38% | 25.03% | -20.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 28.29% | -24.09% |
Dividends
EIMAX vs. E - Dividend Comparison
EIMAX's dividend yield for the trailing twelve months is around 3.59%, less than E's 4.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
E Eni S.p.A. | 4.88% | 5.88% | 7.69% | 5.74% | 6.38% | 5.79% | 5.91% | 6.11% | 5.15% | 3.96% | 3.98% | 5.14% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.59% | 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
EIMAX and E have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
E has higher volatility (7.16%) compared to EIMAX (0.80%). In terms of maximum drawdown, EIMAX dropped -29.25% vs E's -70.53%.
E currently has the higher Sharpe Ratio (2.53 vs 2.49), 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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