ERBIX vs. ETY
ERBIX (Eaton Vance Richard Bernstein Equity Strategy Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - ERBIX is a Global Equities fund managed by Eaton Vance, while ETY is a Derivative Income fund actively managed by Eaton Vance. Over the past 10 years, ERBIX returned 11.83%/yr vs 12.23%/yr for ETY. Their 0.72 correlation means they have sometimes moved together and sometimes differently. ERBIX charges 0.93%/yr vs 1.06%/yr for ETY.
Performance
ERBIX vs. ETY - Performance Comparison
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Returns By Period
In the year-to-date period, ERBIX achieves a 8.92% return, which is significantly higher than ETY's -1.59% return. Both investments have delivered pretty close results over the past 10 years, with ERBIX having a 11.83% annualized return and ETY not far ahead at 12.23%.
ERBIX
- 1D
- 2.49%
- 1M
- -1.49%
- 6M
- 5.49%
- YTD
- 8.92%
- 1Y
- 20.65%
- 3Y*
- 14.36%
- 5Y*
- 8.68%
- 10Y*
- 11.83%
- ALL TIME*
- 11.19%
ETY
- 1D
- 1.27%
- 1M
- -0.56%
- 6M
- -1.83%
- YTD
- -1.59%
- 1Y
- 0.54%
- 3Y*
- 13.80%
- 5Y*
- 8.69%
- 10Y*
- 12.23%
- ALL TIME*
- 8.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $3.58M | $3.53M | $3.55M |
ERBIX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERBIX Eaton Vance Richard Bernstein Equity Strategy Fund | 8.92% | 18.35% | 15.00% | 14.63% | -14.75% | 17.75% | 16.49% | 36.69% | -11.86% | 20.94% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -1.59% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between ERBIX and ETY is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.72 |
The correlation between ERBIX and ETY has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
ERBIX vs. ETY — Risk / Return Rank
ERBIX
ETY
ERBIX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). 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.
| ERBIX | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.00 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | -0.05 | +1.88 |
| Martin ratioReturn relative to average drawdown | 7.88 | -0.17 | +8.05 |
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Drawdowns
ERBIX vs. ETY - Drawdown Comparison
The maximum ERBIX drawdown since its inception was -29.18%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for ERBIX and ETY.
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Drawdown Indicators
| ERBIX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.18% | -53.06% | +23.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.42% | -14.40% | +3.98% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -21.28% | +4.79% |
Max Drawdown (5Y)Largest decline over 5 years | -24.32% | -24.06% | -0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | -42.46% | +13.28% |
Current DrawdownCurrent decline from peak | -2.61% | -3.76% | +1.15% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -7.56% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 4.12% | -1.70% |
Volatility
ERBIX vs. ETY - Volatility Comparison
Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) has a higher volatility of 4.69% compared to Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) at 3.61%. This indicates that ERBIX's price experiences larger fluctuations and is considered to be riskier than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERBIX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 3.61% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 11.33% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.28% | 13.82% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.14% | 17.98% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 19.91% | -3.55% |
ERBIX vs. ETY - Expense Ratio Comparison
ERBIX has a 0.93% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
ERBIX vs. ETY - Dividend Comparison
ERBIX's dividend yield for the trailing twelve months is around 16.66%, more than ETY's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERBIX Eaton Vance Richard Bernstein Equity Strategy Fund | 16.66% | 18.14% | 4.12% | 8.82% | 5.97% | 13.08% | 2.63% | 16.82% | 5.93% | 5.78% | 3.59% | 2.32% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.27% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
Frequently Asked Questions
ERBIX and ETY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERBIX has higher volatility (4.69%) compared to ETY (3.61%). In terms of maximum drawdown, ERBIX dropped -29.18% vs ETY's -53.06%.
ERBIX currently has the higher Sharpe Ratio (1.34 vs -0.05), 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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