EIMAX vs. ETB
Compare and contrast key facts about Eaton Vance Massachusetts Municipal Income Fund (EIMAX) and Eaton Vance Tax-Managed Buy-Write Income Fund (ETB).
EIMAX is managed by Eaton Vance. It was launched on Jun 16, 1993. ETB is managed by Eaton Vance. It was launched on Apr 29, 2005.
Performance
EIMAX vs. ETB - Performance Comparison
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EIMAX vs. ETB - 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% |
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | -3.57% | 11.16% | 26.22% | 7.50% | -16.59% | 23.68% | 0.43% | 32.40% | -12.75% | 9.52% |
Returns By Period
In the year-to-date period, EIMAX achieves a -0.70% return, which is significantly higher than ETB's -3.57% return. Over the past 10 years, EIMAX has underperformed ETB with an annualized return of 1.47%, while ETB has yielded a comparatively higher 7.48% 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%
ETB
- 1D
- 3.00%
- 1M
- -5.76%
- YTD
- -3.57%
- 6M
- 0.27%
- 1Y
- 15.23%
- 3Y*
- 12.80%
- 5Y*
- 6.94%
- 10Y*
- 7.48%
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EIMAX vs. ETB - Expense Ratio Comparison
EIMAX has a 0.48% expense ratio, which is higher than ETB's 0.01% expense ratio.
Return for Risk
EIMAX vs. ETB — Risk / Return Rank
EIMAX
ETB
EIMAX vs. ETB - 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 Tax-Managed Buy-Write Income Fund (ETB). 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 | ETB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.89 | -0.10 |
Sortino ratioReturn per unit of downside risk | 1.10 | 1.34 | -0.24 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.18 | -0.31 |
Martin ratioReturn relative to average drawdown | 3.04 | 6.14 | -3.09 |
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 | ETB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.89 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.43 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.42 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.39 | +0.17 |
Correlation
The correlation between EIMAX and ETB is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
EIMAX vs. ETB - Dividend Comparison
EIMAX's dividend yield for the trailing twelve months is around 3.66%, less than ETB's 8.80% 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% |
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 8.80% | 8.31% | 8.21% | 8.62% | 9.63% | 7.57% | 8.64% | 7.90% | 9.64% | 7.75% | 7.85% | 7.77% |
Drawdowns
EIMAX vs. ETB - Drawdown Comparison
The maximum EIMAX drawdown since its inception was -29.25%, smaller than the maximum ETB drawdown of -51.09%. Use the drawdown chart below to compare losses from any high point for EIMAX and ETB.
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Drawdown Indicators
| EIMAX | ETB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.25% | -51.09% | +21.84% |
Max Drawdown (1Y)Largest decline over 1 year | -5.62% | -12.64% | +7.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -23.43% | +8.76% |
Max Drawdown (10Y)Largest decline over 10 years | -14.67% | -45.08% | +30.41% |
Current DrawdownCurrent decline from peak | -2.65% | -6.30% | +3.65% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -6.76% | +2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 2.43% | -0.82% |
Volatility
EIMAX vs. ETB - Volatility Comparison
The current volatility for Eaton Vance Massachusetts Municipal Income Fund (EIMAX) is 1.03%, while Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) has a volatility of 5.99%. This indicates that EIMAX experiences smaller price fluctuations and is considered to be less risky than ETB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIMAX | ETB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 5.99% | -4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 9.02% | -7.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 17.26% | -11.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.34% | 16.21% | -11.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 18.01% | -13.82% |