ETB vs. EHSTX
ETB (Eaton Vance Tax-Managed Buy-Write Income Fund) and EHSTX (Eaton Vance Large-Cap Value Fund) are both mutual funds - ETB is a Options Trading fund managed by Eaton Vance, while EHSTX is a Large Cap Value Equities fund managed by Eaton Vance. Over the past 10 years, ETB returned 8.43%/yr vs 11.40%/yr for EHSTX. A 0.57 correlation means they provide meaningful diversification when combined. ETB charges 0.01%/yr vs 1.01%/yr for EHSTX.
Performance
ETB vs. EHSTX - Performance Comparison
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Returns By Period
In the year-to-date period, ETB achieves a 4.53% return, which is significantly lower than EHSTX's 13.72% return. Over the past 10 years, ETB has underperformed EHSTX with an annualized return of 8.43%, while EHSTX has yielded a comparatively higher 11.40% annualized return.
ETB
- 1D
- -0.13%
- 1M
- 0.24%
- YTD
- 4.53%
- 6M
- 4.46%
- 1Y
- 18.98%
- 3Y*
- 13.93%
- 5Y*
- 7.17%
- 10Y*
- 8.43%
EHSTX
- 1D
- 0.87%
- 1M
- 1.90%
- YTD
- 13.72%
- 6M
- 13.00%
- 1Y
- 23.83%
- 3Y*
- 15.46%
- 5Y*
- 9.92%
- 10Y*
- 11.40%
ETB vs. EHSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 4.53% | 11.16% | 26.22% | 7.50% | -16.59% | 23.68% | 0.43% | 32.40% | -12.75% | 9.52% |
EHSTX Eaton Vance Large-Cap Value Fund | 13.72% | 12.11% | 11.25% | 7.93% | -2.80% | 24.25% | 2.29% | 30.84% | -6.96% | 14.79% |
Correlation
The correlation between ETB and EHSTX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2005 | 0.57 |
The correlation between ETB and EHSTX has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.
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Return for Risk
ETB vs. EHSTX — Risk / Return Rank
ETB
EHSTX
ETB vs. EHSTX - 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 Eaton Vance Large-Cap Value Fund (EHSTX). 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 | EHSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.38 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.99 | -0.91 |
| Martin ratioReturn relative to average drawdown | 10.59 | 12.02 | -1.43 |
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Drawdowns
ETB vs. EHSTX - Drawdown Comparison
The maximum ETB drawdown since its inception was -51.09%, roughly equal to the maximum EHSTX drawdown of -53.47%. Use the drawdown chart below to compare losses from any high point for ETB and EHSTX.
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Drawdown Indicators
| ETB | EHSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.09% | -53.47% | +2.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.16% | -8.29% | -0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -20.09% | -16.44% | -3.65% |
Max Drawdown (5Y)Largest decline over 5 years | -23.43% | -16.44% | -6.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.08% | -39.30% | -5.78% |
Current DrawdownCurrent decline from peak | -1.17% | -0.20% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -7.40% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 2.06% | -0.26% |
Volatility
ETB vs. EHSTX - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is 3.14%, while Eaton Vance Large-Cap Value Fund (EHSTX) has a volatility of 4.13%. This indicates that ETB experiences smaller price fluctuations and is considered to be less risky than EHSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETB | EHSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 4.13% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 8.83% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.41% | 11.59% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 14.77% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.98% | 17.31% | +0.67% |
ETB vs. EHSTX - Expense Ratio Comparison
ETB has a 0.01% expense ratio, which is lower than EHSTX's 1.01% expense ratio.
Dividends
ETB vs. EHSTX - Dividend Comparison
ETB's dividend yield for the trailing twelve months is around 8.29%, more than EHSTX's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EHSTX Eaton Vance Large-Cap Value Fund | 5.32% | 6.12% | 4.03% | 2.93% | 4.25% | 7.32% | 1.94% | 2.76% | 10.94% | 5.88% | 1.33% | 11.02% |
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 8.29% | 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 EHSTX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EHSTX has higher volatility (4.13%) compared to ETB (3.14%). In terms of maximum drawdown, ETB dropped -51.09% vs EHSTX's -53.47%.
EHSTX currently has the higher Sharpe Ratio (2.14 vs 1.67), 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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