ETB vs. BALI
ETB (Eaton Vance Tax-Managed Buy-Write Income Fund) and BALI (Blackrock Advantage Large Cap Income ETF) are both funds - ETB is a Options Trading fund managed by Eaton Vance, while BALI is a Derivative Income fund actively managed by BlackRock. Over the past year, ETB returned 17.89% vs 24.74% for BALI. Their 0.74 correlation means they have sometimes moved together and sometimes differently. ETB charges 0.01%/yr vs 0.35%/yr for BALI.
Performance
ETB vs. BALI - Performance Comparison
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Returns By Period
In the year-to-date period, ETB achieves a 7.23% return, which is significantly lower than BALI's 15.32% return.
ETB
- 1D
- 0.91%
- 1M
- 1.20%
- 6M
- 4.71%
- YTD
- 7.23%
- 1Y
- 17.89%
- 3Y*
- 14.53%
- 5Y*
- 7.84%
- 10Y*
- 8.38%
- ALL TIME*
- 8.19%
BALI
- 1D
- 1.28%
- 1M
- 3.94%
- 6M
- 12.90%
- YTD
- 15.32%
- 1Y
- 24.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 22.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.61M | $7.36M | $9.08M | |
| $609.32K | $634.97K | $708.53K |
ETB vs. BALI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 7.23% | 11.16% | 26.22% | 6.41% |
BALI Blackrock Advantage Large Cap Income ETF | 15.32% | 14.51% | 22.38% | 9.71% |
Correlation
The correlation between ETB and BALI is 0.74, 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. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023 | 0.74 |
The correlation between ETB and BALI has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.
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Return for Risk
ETB vs. BALI — Risk / Return Rank
ETB
BALI
ETB vs. BALI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) and Blackrock Advantage Large Cap Income ETF (BALI). 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.
| ETB | BALI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.44 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 3.70 | -1.74 |
| Martin ratioReturn relative to average drawdown | 9.70 | 17.28 | -7.58 |
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Drawdowns
ETB vs. BALI - Drawdown Comparison
The maximum ETB drawdown since its inception was -51.09%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for ETB and BALI.
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Drawdown Indicators
| ETB | BALI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.09% | -16.65% | -34.44% |
Max Drawdown (1Y)Largest decline over 1 year | -9.16% | -6.71% | -2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -20.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.43% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.08% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -1.59% | -5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.44% | +0.41% |
Volatility
ETB vs. BALI - Volatility Comparison
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) and Blackrock Advantage Large Cap Income ETF (BALI) have volatilities of 3.19% and 3.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETB | BALI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.32% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 8.57% | +1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.78% | 10.73% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.31% | 12.92% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 12.92% | +5.03% |
ETB vs. BALI - Expense Ratio Comparison
ETB has a 0.01% expense ratio, which is lower than BALI's 0.35% expense ratio.
Dividends
ETB vs. BALI - Dividend Comparison
ETB's dividend yield for the trailing twelve months is around 8.14%, more than BALI's 7.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BALI Blackrock Advantage Large Cap Income ETF | 7.64% | 8.51% | 7.13% | 2.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 8.14% | 8.31% | 8.21% | 8.62% | 9.63% | 7.57% | 8.64% | 7.90% | 9.64% | 7.75% | 7.85% | 7.77% |
Frequently Asked Questions
ETB and BALI have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BALI has higher volatility (3.32%) compared to ETB (3.19%). In terms of maximum drawdown, ETB dropped -51.09% vs BALI's -16.65%.
BALI currently has the higher Sharpe Ratio (2.33 vs 1.53), 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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