ETMGX vs. ETEGX
ETMGX (Eaton Vance Tax-Managed Small-Cap Fund) and ETEGX (Eaton Vance Small-Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, ETMGX returned 8.41%/yr vs 9.03%/yr for ETEGX. With a 1.00 correlation, they move nearly in lockstep. ETMGX charges 1.11%/yr vs 1.21%/yr for ETEGX.
Performance
ETMGX vs. ETEGX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ETMGX having a 5.60% return and ETEGX slightly lower at 5.54%. Over the past 10 years, ETMGX has underperformed ETEGX with an annualized return of 8.41%, while ETEGX has yielded a comparatively higher 9.03% annualized return.
ETMGX
- 1D
- -0.27%
- 1M
- 4.18%
- YTD
- 5.60%
- 6M
- 3.34%
- 1Y
- 2.32%
- 3Y*
- 5.11%
- 5Y*
- 1.77%
- 10Y*
- 8.41%
ETEGX
- 1D
- -0.28%
- 1M
- 4.06%
- YTD
- 5.54%
- 6M
- 3.22%
- 1Y
- 2.32%
- 3Y*
- 6.37%
- 5Y*
- 2.69%
- 10Y*
- 9.03%
ETMGX vs. ETEGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 5.60% | -6.63% | 11.43% | 11.06% | -16.53% | 20.91% | 12.33% | 27.32% | -5.86% | 15.26% |
ETEGX Eaton Vance Small-Cap Fund | 5.54% | -6.20% | 14.65% | 11.28% | -15.52% | 21.45% | 12.73% | 27.57% | -6.00% | 14.87% |
Correlation
The correlation between ETMGX and ETEGX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 1.00 |
The correlation between ETMGX and ETEGX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
ETMGX vs. ETEGX — Risk / Return Rank
ETMGX
ETEGX
ETMGX vs. ETEGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) and Eaton Vance Small-Cap Fund (ETEGX). 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.
| ETMGX | ETEGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.05 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.30 | 0.00 |
| Martin ratioReturn relative to average drawdown | 0.66 | 0.67 | 0.00 |
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Drawdowns
ETMGX vs. ETEGX - Drawdown Comparison
The maximum ETMGX drawdown since its inception was -37.02%, smaller than the maximum ETEGX drawdown of -67.58%. Use the drawdown chart below to compare losses from any high point for ETMGX and ETEGX.
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Drawdown Indicators
| ETMGX | ETEGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -67.58% | +30.56% |
Max Drawdown (1Y)Largest decline over 1 year | -13.14% | -13.05% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -19.98% | -2.30% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -24.30% | -0.84% |
Max Drawdown (10Y)Largest decline over 10 years | -37.02% | -36.66% | -0.36% |
Current DrawdownCurrent decline from peak | -9.49% | -6.81% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -6.60% | -22.74% | +16.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.95% | 5.89% | +0.06% |
Volatility
ETMGX vs. ETEGX - Volatility Comparison
Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) and Eaton Vance Small-Cap Fund (ETEGX) have volatilities of 4.65% and 4.54%, 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.
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Volatility by Period
| ETMGX | ETEGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 4.54% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 11.51% | 11.40% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.34% | 16.28% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.77% | 18.79% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.94% | 19.87% | +0.07% |
ETMGX vs. ETEGX - Expense Ratio Comparison
ETMGX has a 1.11% expense ratio, which is lower than ETEGX's 1.21% expense ratio.
Dividends
ETMGX vs. ETEGX - Dividend Comparison
ETMGX's dividend yield for the trailing twelve months is around 6.67%, less than ETEGX's 7.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETEGX Eaton Vance Small-Cap Fund | 7.80% | 8.23% | 5.13% | 0.68% | 3.22% | 13.87% | 1.06% | 7.19% | 12.29% | 11.02% | 13.88% | 23.25% |
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 6.67% | 7.04% | 2.85% | 1.36% | 2.80% | 8.28% | 0.09% | 6.50% | 7.75% | 11.87% | 6.00% | 5.50% |
Frequently Asked Questions
With a correlation of 1.00, ETMGX and ETEGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ETMGX has higher volatility (4.65%) compared to ETEGX (4.54%). In terms of maximum drawdown, ETMGX dropped -37.02% vs ETEGX's -67.58%.
ETMGX currently has the higher Sharpe Ratio (0.24 vs 0.24), 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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