EOT vs. VTEB
EOT (Eaton Vance National Municipal Opportunities Trust) is a stock, while VTEB (Vanguard Tax-Exempt Bond ETF) is Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Over the past 10 years, EOT returned 1.83%/yr vs 1.88%/yr for VTEB. Their 0.32 correlation means their historical movements had little consistent relationship.
Performance
EOT vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, EOT achieves a 5.11% return, which is significantly higher than VTEB's 0.31% return. Both investments have delivered pretty close results over the past 10 years, with EOT having a 1.83% annualized return and VTEB not far ahead at 1.88%.
EOT
- 1D
- 0.23%
- 1M
- -1.43%
- 6M
- 0.64%
- YTD
- 5.11%
- 1Y
- 12.20%
- 3Y*
- 4.82%
- 5Y*
- -1.33%
- 10Y*
- 1.83%
- ALL TIME*
- 4.26%
VTEB
- 1D
- -0.10%
- 1M
- -1.84%
- 6M
- -0.23%
- YTD
- 0.31%
- 1Y
- 4.77%
- 3Y*
- 2.92%
- 5Y*
- 0.53%
- 10Y*
- 1.88%
- ALL TIME*
- 2.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $434.16K | $455.72K | $564.92K | |
| $377.87M | $352.76M | $360.69M |
EOT vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EOT Eaton Vance National Municipal Opportunities Trust | 5.11% | 7.97% | 1.90% | 7.67% | -22.32% | 11.41% | -1.56% | 21.98% | -12.85% | 14.10% |
VTEB Vanguard Tax-Exempt Bond ETF | 0.31% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Correlation
The correlation between EOT and VTEB is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2015 | 0.32 |
The correlation between EOT and VTEB shifts across timeframes, from 0.32 (all time) to 0.48 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EOT vs. VTEB — Risk / Return Rank
EOT
VTEB
EOT vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance National Municipal Opportunities Trust (EOT) and Vanguard Tax-Exempt Bond ETF (VTEB). 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.
| EOT | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.41 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.00 | -0.19 |
| Martin ratioReturn relative to average drawdown | 5.49 | 6.62 | -1.13 |
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Drawdowns
EOT vs. VTEB - Drawdown Comparison
The maximum EOT drawdown since its inception was -33.25%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for EOT and VTEB.
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Drawdown Indicators
| EOT | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.25% | -17.00% | -16.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.30% | -2.71% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -11.80% | -4.76% | -7.04% |
Max Drawdown (5Y)Largest decline over 5 years | -33.25% | -12.56% | -20.69% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -17.00% | -16.25% |
Current DrawdownCurrent decline from peak | -10.82% | -1.86% | -8.96% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -2.30% | -8.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 0.82% | +1.59% |
Volatility
EOT vs. VTEB - Volatility Comparison
Eaton Vance National Municipal Opportunities Trust (EOT) has a higher volatility of 2.45% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.88%. This indicates that EOT's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EOT | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 0.88% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 2.22% | +5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.03% | 2.79% | +7.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 3.92% | +9.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 5.25% | +9.49% |
Dividends
EOT vs. VTEB - Dividend Comparison
EOT's dividend yield for the trailing twelve months is around 4.74%, more than VTEB's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EOT Eaton Vance National Municipal Opportunities Trust | 4.74% | 4.85% | 4.77% | 4.43% | 4.56% | 3.44% | 3.80% | 4.73% | 6.13% | 5.12% | 5.97% | 4.83% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.14% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
EOT and VTEB have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EOT has higher volatility (2.45%) compared to VTEB (0.88%). In terms of maximum drawdown, EOT dropped -33.25% vs VTEB's -17.00%.
VTEB currently has the higher Sharpe Ratio (1.95 vs 1.32), 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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