EIMAX vs. EACAX
Compare and contrast key facts about Eaton Vance Massachusetts Municipal Income Fund (EIMAX) and Eaton Vance California Municipal Opportunities Fund (EACAX).
EIMAX is managed by Eaton Vance. It was launched on Jun 16, 1993. EACAX is managed by Eaton Vance. It was launched on May 26, 1994.
Performance
EIMAX vs. EACAX - Performance Comparison
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EIMAX vs. EACAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIMAX Eaton Vance Massachusetts Municipal Income Fund | -0.70% | 3.76% | 1.37% | 5.06% | -9.61% | 0.57% | 4.60% | 7.01% | 0.65% | 4.67% |
EACAX Eaton Vance California Municipal Opportunities Fund | -0.62% | 3.85% | 3.25% | 6.45% | -7.76% | 0.53% | 5.33% | 8.32% | 1.07% | 4.58% |
Returns By Period
In the year-to-date period, EIMAX achieves a -0.70% return, which is significantly lower than EACAX's -0.62% return. Over the past 10 years, EIMAX has underperformed EACAX with an annualized return of 1.47%, while EACAX has yielded a comparatively higher 2.25% annualized return.
EIMAX
- 1D
- 0.13%
- 1M
- -2.65%
- YTD
- -0.70%
- 6M
- 0.84%
- 1Y
- 3.61%
- 3Y*
- 2.28%
- 5Y*
- 0.14%
- 10Y*
- 1.47%
EACAX
- 1D
- 0.20%
- 1M
- -2.73%
- YTD
- -0.62%
- 6M
- 1.06%
- 1Y
- 3.32%
- 3Y*
- 3.36%
- 5Y*
- 1.23%
- 10Y*
- 2.25%
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EIMAX vs. EACAX - Expense Ratio Comparison
EIMAX has a 0.48% expense ratio, which is lower than EACAX's 0.71% expense ratio.
Return for Risk
EIMAX vs. EACAX — Risk / Return Rank
EIMAX
EACAX
EIMAX vs. EACAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Massachusetts Municipal Income Fund (EIMAX) and Eaton Vance California Municipal Opportunities Fund (EACAX). 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.
| EIMAX | EACAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.75 | +0.03 |
Sortino ratioReturn per unit of downside risk | 1.10 | 1.03 | +0.07 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.87 | 0.82 | +0.05 |
Martin ratioReturn relative to average drawdown | 3.04 | 2.43 | +0.62 |
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
| EIMAX | EACAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.75 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.32 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.62 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 1.00 | -0.44 |
Correlation
The correlation between EIMAX and EACAX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EIMAX vs. EACAX - Dividend Comparison
EIMAX's dividend yield for the trailing twelve months is around 3.66%, more than EACAX's 3.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.66% | 4.52% | 4.15% | 2.39% | 2.62% | 2.01% | 2.58% | 3.46% | 3.27% | 3.41% | 3.65% | 3.70% |
EACAX Eaton Vance California Municipal Opportunities Fund | 3.55% | 4.30% | 3.88% | 3.18% | 2.09% | 1.53% | 2.04% | 3.00% | 2.61% | 2.52% | 2.74% | 3.52% |
Drawdowns
EIMAX vs. EACAX - Drawdown Comparison
The maximum EIMAX drawdown since its inception was -29.25%, which is greater than EACAX's maximum drawdown of -25.41%. Use the drawdown chart below to compare losses from any high point for EIMAX and EACAX.
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Drawdown Indicators
| EIMAX | EACAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.25% | -25.41% | -3.84% |
Max Drawdown (1Y)Largest decline over 1 year | -5.62% | -5.53% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -12.56% | -2.11% |
Max Drawdown (10Y)Largest decline over 10 years | -14.67% | -12.56% | -2.11% |
Current DrawdownCurrent decline from peak | -2.65% | -2.73% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -2.43% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.87% | -0.26% |
Volatility
EIMAX vs. EACAX - Volatility Comparison
Eaton Vance Massachusetts Municipal Income Fund (EIMAX) and Eaton Vance California Municipal Opportunities Fund (EACAX) have volatilities of 1.03% and 1.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIMAX | EACAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.08% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 1.79% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 5.48% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.34% | 3.88% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 3.65% | +0.54% |