ETAZX vs. EISMX
ETAZX (Eaton Vance Arizona Municipal Income Fund) and EISMX (Eaton Vance Atlanta Capital SMID-Cap Fund) are both mutual funds - ETAZX is a Municipal Bonds fund managed by Eaton Vance, while EISMX is a Mid Cap Growth Equities fund managed by Eaton Vance. Over the past 10 years, ETAZX returned 1.96%/yr vs 10.34%/yr for EISMX. Their -0.05 correlation means they have often moved in opposite directions in the past. ETAZX charges 0.69%/yr vs 0.88%/yr for EISMX.
Performance
ETAZX vs. EISMX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETAZX achieves a 0.42% return, which is significantly lower than EISMX's 5.24% return. Over the past 10 years, ETAZX has underperformed EISMX with an annualized return of 1.96%, while EISMX has yielded a comparatively higher 10.34% annualized return.
ETAZX
- 1D
- -0.34%
- 1M
- -2.31%
- 6M
- -0.40%
- YTD
- 0.42%
- 1Y
- 6.07%
- 3Y*
- 3.81%
- 5Y*
- 0.94%
- 10Y*
- 1.96%
- ALL TIME*
- 3.76%
EISMX
- 1D
- -1.07%
- 1M
- 3.30%
- 6M
- 3.91%
- YTD
- 5.24%
- 1Y
- 2.39%
- 3Y*
- 6.91%
- 5Y*
- 5.08%
- 10Y*
- 10.34%
- ALL TIME*
- 10.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ETAZX vs. EISMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETAZX Eaton Vance Arizona Municipal Income Fund | 0.42% | 5.02% | 2.42% | 5.89% | -7.95% | 0.66% | 4.71% | 6.80% | 0.87% | 4.88% |
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund | 5.24% | -5.66% | 17.64% | 14.01% | -8.77% | 22.02% | 11.31% | 34.37% | -5.55% | 24.71% |
Correlation
The correlation between ETAZX and EISMX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2002 | -0.05 |
The correlation between ETAZX and EISMX shifts across timeframes, from -0.05 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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
ETAZX vs. EISMX — Risk / Return Rank
ETAZX
EISMX
ETAZX vs. EISMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Arizona Municipal Income Fund (ETAZX) and Eaton Vance Atlanta Capital SMID-Cap Fund (EISMX). 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.
| ETAZX | EISMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.00 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | -0.10 | +2.32 |
| Martin ratioReturn relative to average drawdown | 7.29 | -0.20 | +7.50 |
Loading charts...
Drawdowns
ETAZX vs. EISMX - Drawdown Comparison
The maximum ETAZX drawdown since its inception was -21.54%, smaller than the maximum EISMX drawdown of -45.32%. Use the drawdown chart below to compare losses from any high point for ETAZX and EISMX.
Loading charts...
Drawdown Indicators
| ETAZX | EISMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.54% | -45.32% | +23.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -12.69% | +9.53% |
Max Drawdown (3Y)Largest decline over 3 years | -5.37% | -19.39% | +14.02% |
Max Drawdown (5Y)Largest decline over 5 years | -12.19% | -19.81% | +7.62% |
Max Drawdown (10Y)Largest decline over 10 years | -12.19% | -39.95% | +27.76% |
Current DrawdownCurrent decline from peak | -2.31% | -6.45% | +4.14% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -5.86% | +3.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 6.40% | -5.44% |
Volatility
ETAZX vs. EISMX - Volatility Comparison
The current volatility for Eaton Vance Arizona Municipal Income Fund (ETAZX) is 1.14%, while Eaton Vance Atlanta Capital SMID-Cap Fund (EISMX) has a volatility of 5.63%. This indicates that ETAZX experiences smaller price fluctuations and is considered to be less risky than EISMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETAZX | EISMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 5.63% | -4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 12.13% | -9.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 16.19% | -13.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.88% | 17.21% | -13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 18.87% | -14.94% |
ETAZX vs. EISMX - Expense Ratio Comparison
ETAZX has a 0.69% expense ratio, which is lower than EISMX's 0.88% expense ratio.
Dividends
ETAZX vs. EISMX - Dividend Comparison
ETAZX's dividend yield for the trailing twelve months is around 3.07%, less than EISMX's 6.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund | 6.11% | 6.43% | 7.26% | 2.78% | 10.37% | 10.49% | 9.80% | 6.52% | 7.20% | 3.30% | 3.58% | 6.70% |
ETAZX Eaton Vance Arizona Municipal Income Fund | 3.07% | 4.02% | 3.74% | 2.84% | 2.41% | 1.98% | 2.63% | 3.00% | 2.97% | 2.95% | 3.19% | 3.75% |
Frequently Asked Questions
ETAZX and EISMX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EISMX has higher volatility (5.63%) compared to ETAZX (1.14%). In terms of maximum drawdown, ETAZX dropped -21.54% vs EISMX's -45.32%.
ETAZX currently has the higher Sharpe Ratio (2.24 vs -0.08), 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 ETAZX and EISMX
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