ETGIX vs. IASMX

Last updated Jun 24, 2026

ETGIX (Eaton Vance Greater India Fund) and IASMX (Guinness Atkinson Asia Focus Fund) are both Asia Pacific Equities funds. Over the past 10 years, ETGIX returned 7.68%/yr vs 9.32%/yr for IASMX. At a 0.40 correlation, their price movements are largely independent. ETGIX charges 1.57%/yr vs 1.98%/yr for IASMX.

Performance

ETGIX vs. IASMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Greater India Fund (ETGIX) and Guinness Atkinson Asia Focus Fund (IASMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETGIX achieves a -9.52% return, which is significantly lower than IASMX's 18.07% return. Over the past 10 years, ETGIX has underperformed IASMX with an annualized return of 7.68%, while IASMX has yielded a comparatively higher 9.32% annualized return.

ETGIX

• 1D: 0.52%
• 1M: 2.92%
• YTD: -9.52%
• 6M: -10.18%
• 1Y: -10.98%
• 3Y*: 6.58%
• 5Y*: 2.93%
• 10Y*: 7.68%

IASMX

• 1D: -0.68%
• 1M: 3.36%
• YTD: 18.07%
• 6M: 19.23%
• 1Y: 37.47%
• 3Y*: 17.59%
• 5Y*: 2.30%
• 10Y*: 9.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETGIX vs. IASMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETGIX Eaton Vance Greater India Fund	-9.52%	-2.06%	17.55%	20.60%	-19.86%	25.74%	17.64%	10.52%	-12.14%	44.79%
IASMX Guinness Atkinson Asia Focus Fund	18.07%	29.64%	4.38%	5.95%	-28.04%	-6.46%	26.02%	29.32%	-17.58%	47.12%

Correlation

The correlation between ETGIX and IASMX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Apr 29, 1996	0.40

The correlation between ETGIX and IASMX shifts across timeframes, from 0.28 (1 year) to 0.41 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

ETGIX vs. IASMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETGIX

ETGIX Risk / Return Rank: 1
ETGIX Sharpe Ratio Rank: 1
ETGIX Sortino Ratio Rank: 1
ETGIX Omega Ratio Rank: 1
ETGIX Calmar Ratio Rank: 1
ETGIX Martin Ratio Rank: 1

IASMX

IASMX Risk / Return Rank: 63
IASMX Sharpe Ratio Rank: 61
IASMX Sortino Ratio Rank: 54
IASMX Omega Ratio Rank: 54
IASMX Calmar Ratio Rank: 84
IASMX Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETGIX vs. IASMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Greater India Fund (ETGIX) and Guinness Atkinson Asia Focus Fund (IASMX). 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.

	ETGIX	IASMX	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	2.12	-2.88
Sortino ratio: Return per unit of downside risk	-1.04	2.85	-3.88
Omega ratio: Gain probability vs. loss probability	0.88	1.37	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.49	3.80	-4.28
Martin ratio: Return relative to average drawdown	-1.05	11.51	-12.56

ETGIX vs. IASMX - Sharpe Ratio Comparison

The current ETGIX Sharpe Ratio is -0.76, which is lower than the IASMX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of ETGIX and IASMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETGIX vs. IASMX - Drawdown Comparison

The maximum ETGIX drawdown since its inception was -73.62%, roughly equal to the maximum IASMX drawdown of -76.53%. Use the drawdown chart below to compare losses from any high point for ETGIX and IASMX.

Drawdown Indicators

	ETGIX	IASMX	Difference
Max Drawdown Largest peak-to-trough decline	-73.62%	-76.53%	+2.91%
Max Drawdown (1Y) Largest decline over 1 year	-22.03%	-10.00%	-12.03%
Max Drawdown (3Y) Largest decline over 3 years	-27.22%	-19.62%	-7.60%
Max Drawdown (5Y) Largest decline over 5 years	-29.84%	-46.57%	+16.73%
Max Drawdown (10Y) Largest decline over 10 years	-42.71%	-52.51%	+9.80%
Current Drawdown Current decline from peak	-19.76%	-2.08%	-17.68%
Average Drawdown Average peak-to-trough decline	-26.85%	-33.16%	+6.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.22%	3.29%	+6.93%

Volatility

ETGIX vs. IASMX - Volatility Comparison

The current volatility for Eaton Vance Greater India Fund (ETGIX) is 3.51%, while Guinness Atkinson Asia Focus Fund (IASMX) has a volatility of 7.59%. This indicates that ETGIX experiences smaller price fluctuations and is considered to be less risky than IASMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETGIX	IASMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	7.59%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	14.45%	-2.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	17.96%	-3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	21.54%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.65%	20.83%	-3.18%

ETGIX vs. IASMX - Expense Ratio Comparison

ETGIX has a 1.57% expense ratio, which is lower than IASMX's 1.98% expense ratio.

Dividends

ETGIX vs. IASMX - Dividend Comparison

ETGIX's dividend yield for the trailing twelve months is around 15.99%, more than IASMX's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETGIX Eaton Vance Greater India Fund	15.99%	14.47%	4.07%	4.85%	21.62%	8.60%	0.24%	2.79%	1.17%	3.32%	0.56%	0.79%
IASMX Guinness Atkinson Asia Focus Fund	5.86%	6.92%	1.51%	1.16%	3.40%	9.14%	5.78%	6.61%	12.82%	0.90%	1.44%	1.18%

Frequently Asked Questions

Can I hold both ETGIX and IASMX in my portfolio?

ETGIX and IASMX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETGIX or IASMX?

IASMX has higher volatility (7.59%) compared to ETGIX (3.51%). In terms of maximum drawdown, ETGIX dropped -73.62% vs IASMX's -76.53%.

Which has better risk-adjusted returns?

IASMX currently has the higher Sharpe Ratio (2.12 vs -0.76), 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.