ETGAX vs. ABHYX
Compare and contrast key facts about Eaton Vance Georgia Municipal Income Fund (ETGAX) and American Century High-Yield Municipal Fund (ABHYX).
ETGAX is managed by Eaton Vance. It was launched on Dec 6, 1993. ABHYX is managed by American Century Investments. It was launched on Mar 30, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ETGAX or ABHYX.
Key characteristics
| ETGAX | ABHYX | |
|---|---|---|
| YTD Return | 1.43% | 5.83% |
| 1Y Return | 7.17% | 12.78% |
| 3Y Return (Ann) | -0.30% | -1.06% |
| 5Y Return (Ann) | 1.05% | 1.49% |
| 10Y Return (Ann) | 2.05% | 3.31% |
| Sharpe Ratio | 2.17 | 2.99 |
| Sortino Ratio | 3.29 | 4.47 |
| Omega Ratio | 1.50 | 1.75 |
| Calmar Ratio | 0.89 | 0.86 |
| Martin Ratio | 9.09 | 16.44 |
| Ulcer Index | 0.80% | 0.78% |
| Daily Std Dev | 3.37% | 4.27% |
| Max Drawdown | -27.08% | -26.33% |
| Current Drawdown | -1.64% | -3.87% |
Correlation
The correlation between ETGAX and ABHYX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ETGAX vs. ABHYX - Performance Comparison
In the year-to-date period, ETGAX achieves a 1.43% return, which is significantly lower than ABHYX's 5.83% return. Over the past 10 years, ETGAX has underperformed ABHYX with an annualized return of 2.05%, while ABHYX has yielded a comparatively higher 3.31% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ETGAX vs. ABHYX - Expense Ratio Comparison
ETGAX has a 0.65% expense ratio, which is higher than ABHYX's 0.59% expense ratio.
Risk-Adjusted Performance
ETGAX vs. ABHYX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Georgia Municipal Income Fund (ETGAX) and American Century High-Yield Municipal Fund (ABHYX). 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.
Dividends
ETGAX vs. ABHYX - Dividend Comparison
ETGAX's dividend yield for the trailing twelve months is around 3.02%, less than ABHYX's 4.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETGAX Eaton Vance Georgia Municipal Income Fund | 3.02% | 2.67% | 1.99% | 1.59% | 2.06% | 2.53% | 2.92% | 2.95% | 3.07% | 3.32% | 3.85% | 3.92% |
ABHYX American Century High-Yield Municipal Fund | 4.16% | 4.01% | 3.74% | 2.93% | 3.36% | 3.50% | 3.89% | 3.63% | 3.61% | 3.93% | 4.14% | 4.47% |
Drawdowns
ETGAX vs. ABHYX - Drawdown Comparison
The maximum ETGAX drawdown since its inception was -27.08%, roughly equal to the maximum ABHYX drawdown of -26.33%. Use the drawdown chart below to compare losses from any high point for ETGAX and ABHYX. For additional features, visit the drawdowns tool.
Volatility
ETGAX vs. ABHYX - Volatility Comparison
The current volatility for Eaton Vance Georgia Municipal Income Fund (ETGAX) is 1.69%, while American Century High-Yield Municipal Fund (ABHYX) has a volatility of 2.15%. This indicates that ETGAX experiences smaller price fluctuations and is considered to be less risky than ABHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.