EIMAX vs. EIRRX
EIMAX (Eaton Vance Massachusetts Municipal Income Fund) and EIRRX (Eaton Vance Short Duration Inflation-Protected Income Fund) are both mutual funds - EIMAX is a Municipal Bonds fund managed by Eaton Vance, while EIRRX is a Inflation-Protected Bonds fund managed by Eaton Vance. Over the past 10 years, EIMAX returned 1.46%/yr vs 3.75%/yr for EIRRX. At a 0.19 correlation, their price movements are largely independent. EIMAX charges 0.48%/yr vs 0.64%/yr for EIRRX.
Performance
EIMAX vs. EIRRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EIMAX achieves a 1.63% return, which is significantly higher than EIRRX's 0.85% return. Over the past 10 years, EIMAX has underperformed EIRRX with an annualized return of 1.46%, while EIRRX has yielded a comparatively higher 3.75% annualized return.
EIMAX
- 1D
- 0.00%
- 1M
- 1.60%
- YTD
- 1.63%
- 6M
- 2.07%
- 1Y
- 6.84%
- 3Y*
- 3.24%
- 5Y*
- 0.40%
- 10Y*
- 1.46%
EIRRX
- 1D
- 0.00%
- 1M
- -0.30%
- YTD
- 0.85%
- 6M
- 0.85%
- 1Y
- 2.93%
- 3Y*
- 4.92%
- 5Y*
- 3.54%
- 10Y*
- 3.75%
EIMAX vs. EIRRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 1.63% | 3.76% | 1.37% | 5.06% | -9.61% | 0.57% | 4.60% | 7.01% | 0.65% | 4.67% |
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund | 0.85% | 4.63% | 5.65% | 6.33% | -3.08% | 7.84% | 5.25% | 5.60% | -0.15% | 1.94% |
Correlation
The correlation between EIMAX and EIRRX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.19 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EIMAX vs. EIRRX — Risk / Return Rank
EIMAX
EIRRX
EIMAX vs. EIRRX - 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 Short Duration Inflation-Protected Income Fund (EIRRX). 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 | EIRRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.40 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 3.33 | -0.85 |
| Martin ratioReturn relative to average drawdown | 8.38 | 12.34 | -3.96 |
Loading charts...
Drawdowns
EIMAX vs. EIRRX - Drawdown Comparison
The maximum EIMAX drawdown since its inception was -29.25%, which is greater than EIRRX's maximum drawdown of -10.27%. Use the drawdown chart below to compare losses from any high point for EIMAX and EIRRX.
Loading charts...
Drawdown Indicators
| EIMAX | EIRRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.25% | -10.27% | -18.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -0.89% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -6.83% | -1.67% | -5.16% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -6.22% | -8.45% |
Max Drawdown (10Y)Largest decline over 10 years | -14.67% | -10.27% | -4.40% |
Current DrawdownCurrent decline from peak | -0.36% | -0.88% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -0.99% | -2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.24% | +0.58% |
Volatility
EIMAX vs. EIRRX - Volatility Comparison
Eaton Vance Massachusetts Municipal Income Fund (EIMAX) has a higher volatility of 0.83% compared to Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX) at 0.71%. This indicates that EIMAX's price experiences larger fluctuations and is considered to be riskier than EIRRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EIMAX | EIRRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.71% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 1.31% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.88% | 1.63% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.38% | 2.84% | +1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 2.77% | +1.43% |
EIMAX vs. EIRRX - Expense Ratio Comparison
EIMAX has a 0.48% expense ratio, which is lower than EIRRX's 0.64% expense ratio.
Dividends
EIMAX vs. EIRRX - Dividend Comparison
EIMAX's dividend yield for the trailing twelve months is around 3.60%, less than EIRRX's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.60% | 4.52% | 4.15% | 2.39% | 2.62% | 2.01% | 2.58% | 3.46% | 3.27% | 3.41% | 3.65% | 3.70% |
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund | 4.10% | 3.57% | 4.08% | 4.50% | 5.07% | 3.54% | 2.21% | 2.66% | 2.91% | 2.13% | 2.24% | 2.05% |
Frequently Asked Questions
EIMAX and EIRRX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIMAX has higher volatility (0.83%) compared to EIRRX (0.71%). In terms of maximum drawdown, EIMAX dropped -29.25% vs EIRRX's -10.27%.
EIMAX currently has the higher Sharpe Ratio (2.39 vs 1.80), 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.
Find the right allocation for EIMAX and EIRRX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer