EOI vs. EEIAX
EOI (Eaton Vance Enhanced Equity Income Fund) and EEIAX (Eaton Vance Emerging Markets Local Income Fund) are both mutual funds - EOI is a Large Cap Blend Equities fund managed by Eaton Vance, while EEIAX is a Emerging Markets Bonds fund managed by Eaton Vance. Over the past 10 years, EOI returned 12.40%/yr vs 4.94%/yr for EEIAX. At a 0.38 correlation, their price movements are largely independent. EOI charges 0.01%/yr vs 1.19%/yr for EEIAX.
Performance
EOI vs. EEIAX - Performance Comparison
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Returns By Period
In the year-to-date period, EOI achieves a -3.20% return, which is significantly lower than EEIAX's 4.30% return. Over the past 10 years, EOI has outperformed EEIAX with an annualized return of 12.40%, while EEIAX has yielded a comparatively lower 4.94% annualized return.
EOI
- 1D
- -0.93%
- 1M
- -2.52%
- YTD
- -3.20%
- 6M
- -2.34%
- 1Y
- 2.75%
- 3Y*
- 15.24%
- 5Y*
- 9.01%
- 10Y*
- 12.40%
EEIAX
- 1D
- 0.00%
- 1M
- 1.61%
- YTD
- 4.30%
- 6M
- 5.00%
- 1Y
- 16.81%
- 3Y*
- 9.55%
- 5Y*
- 4.10%
- 10Y*
- 4.94%
EOI vs. EEIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EOI Eaton Vance Enhanced Equity Income Fund | -3.20% | 7.21% | 35.73% | 20.67% | -19.78% | 32.93% | 9.59% | 31.97% | -4.26% | 26.31% |
EEIAX Eaton Vance Emerging Markets Local Income Fund | 4.30% | 23.43% | -1.23% | 13.63% | -11.99% | -7.64% | 4.68% | 22.66% | -8.38% | 16.10% |
Correlation
The correlation between EOI and EEIAX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2007 | 0.38 |
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Return for Risk
EOI vs. EEIAX — Risk / Return Rank
EOI
EEIAX
EOI vs. EEIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Enhanced Equity Income Fund (EOI) and Eaton Vance Emerging Markets Local Income Fund (EEIAX). 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.
| EOI | EEIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.45 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 2.28 | -2.06 |
| Martin ratioReturn relative to average drawdown | 0.71 | 8.18 | -7.47 |
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Drawdowns
EOI vs. EEIAX - Drawdown Comparison
The maximum EOI drawdown since its inception was -53.72%, which is greater than EEIAX's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for EOI and EEIAX.
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Drawdown Indicators
| EOI | EEIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.72% | -31.70% | -22.02% |
Max Drawdown (1Y)Largest decline over 1 year | -12.52% | -7.40% | -5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -23.15% | -9.34% | -13.81% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | -25.94% | -0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -40.01% | -28.43% | -11.58% |
Current DrawdownCurrent decline from peak | -5.70% | -1.58% | -4.12% |
Average DrawdownAverage peak-to-trough decline | -7.38% | -8.90% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 2.06% | +1.81% |
Volatility
EOI vs. EEIAX - Volatility Comparison
Eaton Vance Enhanced Equity Income Fund (EOI) has a higher volatility of 3.95% compared to Eaton Vance Emerging Markets Local Income Fund (EEIAX) at 2.05%. This indicates that EOI's price experiences larger fluctuations and is considered to be riskier than EEIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EOI | EEIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 2.05% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 10.78% | 6.44% | +4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.19% | 7.47% | +5.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.69% | 8.21% | +10.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.90% | 8.41% | +11.49% |
EOI vs. EEIAX - Expense Ratio Comparison
EOI has a 0.01% expense ratio, which is lower than EEIAX's 1.19% expense ratio.
Dividends
EOI vs. EEIAX - Dividend Comparison
EOI's dividend yield for the trailing twelve months is around 8.40%, less than EEIAX's 9.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEIAX Eaton Vance Emerging Markets Local Income Fund | 9.94% | 8.48% | 11.19% | 11.34% | 13.39% | 11.14% | 9.77% | 13.03% | 10.48% | 8.74% | 10.80% | 11.65% |
EOI Eaton Vance Enhanced Equity Income Fund | 8.40% | 7.81% | 7.38% | 7.93% | 8.80% | 5.83% | 6.66% | 6.78% | 8.01% | 7.15% | 8.36% | 7.73% |
Frequently Asked Questions
EOI and EEIAX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EOI has higher volatility (3.95%) compared to EEIAX (2.05%). In terms of maximum drawdown, EOI dropped -53.72% vs EEIAX's -31.70%.
EEIAX currently has the higher Sharpe Ratio (2.26 vs 0.21), 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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