EIMAX vs. EAERX
EIMAX (Eaton Vance Massachusetts Municipal Income Fund) and EAERX (Eaton Vance Stock Fund) are both mutual funds - EIMAX is a Municipal Bonds fund managed by Eaton Vance, while EAERX is a Large Cap Blend Equities fund managed by Eaton Vance. Over the past 10 years, EIMAX returned 1.35%/yr vs 15.46%/yr for EAERX. Their -0.05 correlation means they have often moved in opposite directions in the past. EIMAX charges 0.48%/yr vs 0.98%/yr for EAERX.
Performance
EIMAX vs. EAERX - Performance Comparison
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Returns By Period
In the year-to-date period, EIMAX achieves a 0.38% return, which is significantly lower than EAERX's 5.03% return. Over the past 10 years, EIMAX has underperformed EAERX with an annualized return of 1.35%, while EAERX has yielded a comparatively higher 15.46% annualized return.
EIMAX
- 1D
- -0.26%
- 1M
- -2.03%
- 6M
- -0.29%
- YTD
- 0.38%
- 1Y
- 5.01%
- 3Y*
- 2.71%
- 5Y*
- -0.07%
- 10Y*
- 1.35%
- ALL TIME*
- 2.55%
EAERX
- 1D
- 2.32%
- 1M
- 0.04%
- 6M
- 4.45%
- YTD
- 5.03%
- 1Y
- 11.07%
- 3Y*
- 24.53%
- 5Y*
- 14.82%
- 10Y*
- 15.46%
- ALL TIME*
- 10.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EIMAX vs. EAERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 0.38% | 3.76% | 1.37% | 5.06% | -9.61% | 0.57% | 4.60% | 7.01% | 0.65% | 4.67% |
EAERX Eaton Vance Stock Fund | 5.03% | 13.24% | 53.09% | 24.22% | -16.94% | 22.85% | 18.22% | 35.04% | -5.94% | 19.90% |
Correlation
The correlation between EIMAX and EAERX is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2001 | -0.05 |
The correlation between EIMAX and EAERX shifts across timeframes, from -0.05 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EIMAX vs. EAERX — Risk / Return Rank
EIMAX
EAERX
EIMAX vs. EAERX - 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 Stock Fund (EAERX). 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 | EAERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.13 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 0.89 | +1.30 |
| Martin ratioReturn relative to average drawdown | 7.13 | 3.66 | +3.47 |
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Drawdowns
EIMAX vs. EAERX - Drawdown Comparison
The maximum EIMAX drawdown since its inception was -29.25%, smaller than the maximum EAERX drawdown of -48.72%. Use the drawdown chart below to compare losses from any high point for EIMAX and EAERX.
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Drawdown Indicators
| EIMAX | EAERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.25% | -48.72% | +19.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -10.68% | +7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -6.83% | -19.07% | +12.24% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -22.71% | +8.04% |
Max Drawdown (10Y)Largest decline over 10 years | -14.67% | -33.83% | +19.16% |
Current DrawdownCurrent decline from peak | -2.03% | -1.63% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -3.89% | -6.77% | +2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 2.58% | -1.73% |
Volatility
EIMAX vs. EAERX - Volatility Comparison
The current volatility for Eaton Vance Massachusetts Municipal Income Fund (EIMAX) is 0.95%, while Eaton Vance Stock Fund (EAERX) has a volatility of 3.97%. This indicates that EIMAX experiences smaller price fluctuations and is considered to be less risky than EAERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIMAX | EAERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 3.97% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 10.44% | -8.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 13.28% | -10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.40% | 21.58% | -17.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 20.29% | -16.08% |
EIMAX vs. EAERX - Expense Ratio Comparison
EIMAX has a 0.48% expense ratio, which is lower than EAERX's 0.98% expense ratio.
Dividends
EIMAX vs. EAERX - Dividend Comparison
EIMAX's dividend yield for the trailing twelve months is around 3.35%, less than EAERX's 8.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EAERX Eaton Vance Stock Fund | 8.53% | 8.95% | 29.39% | 17.32% | 14.50% | 12.48% | 1.96% | 3.92% | 12.04% | 7.77% | 2.87% | 8.13% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.35% | 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 EAERX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EAERX has higher volatility (3.97%) compared to EIMAX (0.95%). In terms of maximum drawdown, EIMAX dropped -29.25% vs EAERX's -48.72%.
EIMAX currently has the higher Sharpe Ratio (2.09 vs 0.71), 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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