ETJ vs. GLV

Last updated Aug 1, 2026

ETJ (Eaton Vance Risk-Managed Diversified Equity Income Fund) and GLV (Clough Global Dividend and Income Fund) are both Global Equity Income funds. Over the past 10 years, ETJ returned 8.31%/yr vs 5.23%/yr for GLV. Their 0.46 correlation means their historical movements had little consistent relationship. ETJ charges 0.01%/yr vs 0.02%/yr for GLV.

Performance

ETJ vs. GLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) and Clough Global Dividend and Income Fund (GLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETJ achieves a 0.82% return, which is significantly lower than GLV's 12.23% return. Over the past 10 years, ETJ has outperformed GLV with an annualized return of 8.31%, while GLV has yielded a comparatively lower 5.23% annualized return.

ETJ

• 1D: 0.72%
• 1M: 1.49%
• 6M: -0.81%
• YTD: 0.82%
• 1Y: 3.88%
• 3Y*: 10.01%
• 5Y*: 2.88%
• 10Y*: 8.31%
• ALL TIME*: 5.43%

GLV

• 1D: 0.00%
• 1M: -3.27%
• 6M: 5.73%
• YTD: 12.23%
• 1Y: 25.51%
• 3Y*: 15.97%
• 5Y*: -0.11%
• 10Y*: 5.23%
• ALL TIME*: 5.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ETJ Eaton Vance Risk-Managed Diversified Equity Income Fund	$1.01M	$1.00M	$1.07M
GLV Clough Global Dividend and Income Fund	$300.18K	$281.30K	$314.56K

ETJ vs. GLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETJ Eaton Vance Risk-Managed Diversified Equity Income Fund	0.82%	3.49%	29.55%	14.15%	-22.74%	11.92%	22.31%	26.78%	-7.03%	18.93%
GLV Clough Global Dividend and Income Fund	12.23%	23.01%	17.85%	-8.45%	-31.93%	14.47%	7.91%	22.40%	-16.22%	22.36%

Correlation

The correlation between ETJ and GLV is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.42
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (5Y) Shows whether the relationship held over a longer period.	0.44
Correlation (10Y) Provides a long-term view across more market conditions.	0.43
Correlation (All Time) Calculated using the full available price history since Jul 27, 2007	0.46

Return for Risk

ETJ vs. GLV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETJ

ETJ Risk / Return Rank: 7
ETJ Sharpe Ratio Rank: 7
ETJ Sortino Ratio Rank: 7
ETJ Omega Ratio Rank: 7
ETJ Calmar Ratio Rank: 7
ETJ Martin Ratio Rank: 8

GLV

GLV Risk / Return Rank: 76
GLV Sharpe Ratio Rank: 76
GLV Sortino Ratio Rank: 76
GLV Omega Ratio Rank: 71
GLV Calmar Ratio Rank: 85
GLV Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETJ vs. GLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) and Clough Global Dividend and Income Fund (GLV). 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.

	ETJ	GLV	Difference
Sharpe ratio: Return per unit of total volatility	0.25	1.82	-1.58
Sortino ratio: Return per unit of downside risk	0.43	2.64	-2.21
Omega ratio: Gain probability vs. loss probability	1.05	1.32	-0.27
Calmar ratio: Return relative to maximum drawdown	0.27	3.00	-2.73
Martin ratio: Return relative to average drawdown	0.99	9.11	-8.11

ETJ vs. GLV - Sharpe Ratio Comparison

The current ETJ Sharpe Ratio is 0.25, which is lower than the GLV Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of ETJ and GLV, 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

ETJ vs. GLV - Drawdown Comparison

The maximum ETJ drawdown since its inception was -32.81%, smaller than the maximum GLV drawdown of -61.66%. Use the drawdown chart below to compare losses from any high point for ETJ and GLV.

Drawdown Indicators

	ETJ	GLV	Difference
Max Drawdown Largest peak-to-trough decline	-32.81%	-61.66%	+28.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-8.21%	-2.19%
Max Drawdown (3Y) Largest decline over 3 years	-15.44%	-12.03%	-3.41%
Max Drawdown (5Y) Largest decline over 5 years	-28.55%	-47.37%	+18.82%
Max Drawdown (10Y) Largest decline over 10 years	-32.81%	-47.37%	+14.56%
Current Drawdown Current decline from peak	-1.15%	-5.60%	+4.45%
Average Drawdown Average peak-to-trough decline	-7.48%	-14.82%	+7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.70%	+0.16%

Volatility

ETJ vs. GLV - Volatility Comparison

Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) and Clough Global Dividend and Income Fund (GLV) have volatilities of 3.27% and 3.22%, 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.

Volatility by Period

	ETJ	GLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	3.22%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.53%	10.83%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	13.50%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	16.98%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	19.88%	-1.91%

ETJ vs. GLV - Expense Ratio Comparison

ETJ has a 0.01% expense ratio, which is lower than GLV's 0.02% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ETJ vs. GLV - Dividend Comparison

ETJ's dividend yield for the trailing twelve months is around 9.27%, less than GLV's 10.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETJ Eaton Vance Risk-Managed Diversified Equity Income Fund	9.27%	8.86%	8.16%	8.86%	11.68%	8.53%	8.79%	9.77%	11.23%	9.82%	12.46%	10.98%
GLV Clough Global Dividend and Income Fund	10.48%	10.57%	11.64%	13.92%	16.99%	10.82%	11.67%	11.17%	13.68%	10.00%	11.26%	10.69%

Frequently Asked Questions

Can I hold both ETJ and GLV in my portfolio?

ETJ and GLV have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETJ or GLV?

ETJ has higher volatility (3.27%) compared to GLV (3.22%). In terms of maximum drawdown, ETJ dropped -32.81% vs GLV's -61.66%.

Which has better risk-adjusted returns?

GLV currently has the higher Sharpe Ratio (1.82 vs 0.25), 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.