ETHYX vs. SPY
Compare and contrast key facts about Eaton Vance High Yield Municipal Income Fund (ETHYX) and SPDR S&P 500 ETF (SPY).
ETHYX is managed by Eaton Vance. It was launched on Aug 6, 1995. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ETHYX or SPY.
Key characteristics
| ETHYX | SPY | |
|---|---|---|
| YTD Return | 1.65% | 9.93% |
| 1Y Return | 6.27% | 28.39% |
| 3Y Return (Ann) | -0.70% | 9.37% |
| 5Y Return (Ann) | 1.52% | 14.68% |
| 10Y Return (Ann) | 3.47% | 12.76% |
| Sharpe Ratio | 1.25 | 2.46 |
| Daily Std Dev | 5.01% | 11.52% |
| Max Drawdown | -43.98% | -55.19% |
| Current Drawdown | -4.13% | -0.43% |
Correlation
The correlation between ETHYX and SPY is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
ETHYX vs. SPY - Performance Comparison
In the year-to-date period, ETHYX achieves a 1.65% return, which is significantly lower than SPY's 9.93% return. Over the past 10 years, ETHYX has underperformed SPY with an annualized return of 3.47%, while SPY has yielded a comparatively higher 12.76% 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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ETHYX vs. SPY - Expense Ratio Comparison
ETHYX has a 0.73% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
ETHYX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield Municipal Income Fund (ETHYX) and SPDR S&P 500 ETF (SPY). 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
ETHYX vs. SPY - Dividend Comparison
ETHYX's dividend yield for the trailing twelve months is around 4.10%, more than SPY's 1.29% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHYX Eaton Vance High Yield Municipal Income Fund | 4.10% | 4.07% | 3.85% | 3.05% | 3.41% | 4.00% | 3.81% | 3.73% | 4.06% | 4.12% | 4.47% | 5.40% |
SPY SPDR S&P 500 ETF | 1.29% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
ETHYX vs. SPY - Drawdown Comparison
The maximum ETHYX drawdown since its inception was -43.98%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ETHYX and SPY. For additional features, visit the drawdowns tool.
Volatility
ETHYX vs. SPY - Volatility Comparison
The current volatility for Eaton Vance High Yield Municipal Income Fund (ETHYX) is 1.02%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.62%. This indicates that ETHYX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.