ETMGX vs. WFSPX
ETMGX (Eaton Vance Tax-Managed Small-Cap Fund) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - ETMGX is a Small Cap Growth Equities fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ETMGX returned 7.56%/yr vs 15.46%/yr for WFSPX. Their correlation of 0.81 suggests significant overlap in exposure. ETMGX charges 1.11%/yr vs 0.03%/yr for WFSPX.
Performance
ETMGX vs. WFSPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETMGX achieves a 1.62% return, which is significantly lower than WFSPX's 10.87% return. Over the past 10 years, ETMGX has underperformed WFSPX with an annualized return of 7.56%, while WFSPX has yielded a comparatively higher 15.46% annualized return.
ETMGX
- 1D
- -0.42%
- 1M
- -1.63%
- YTD
- 1.62%
- 6M
- 0.06%
- 1Y
- -1.73%
- 3Y*
- 3.48%
- 5Y*
- 0.82%
- 10Y*
- 7.56%
WFSPX
- 1D
- -0.74%
- 1M
- 4.17%
- YTD
- 10.87%
- 6M
- 10.77%
- 1Y
- 27.97%
- 3Y*
- 22.41%
- 5Y*
- 13.88%
- 10Y*
- 15.46%
ETMGX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 1.62% | -6.63% | 11.43% | 11.06% | -16.53% | 20.91% | 12.33% | 27.32% | -5.86% | 15.26% |
WFSPX iShares S&P 500 Index Fund | 10.87% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between ETMGX and WFSPX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 0.81 |
Over the past year, the correlation between ETMGX and WFSPX has dropped to 0.60 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETMGX vs. WFSPX — Risk / Return Rank
ETMGX
WFSPX
ETMGX vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) and iShares S&P 500 Index Fund (WFSPX). 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.
| ETMGX | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.50 | ||
| Sortino ratioReturn per unit of downside risk | -3.32 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.43 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 3.16 | -3.32 |
| Martin ratioReturn relative to average drawdown | -0.36 | 14.75 | -15.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ETMGX | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.13 | 2.37 | -2.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.83 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.86 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.13 | +0.34 |
Drawdowns
ETMGX vs. WFSPX - Drawdown Comparison
The maximum ETMGX drawdown since its inception was -37.02%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for ETMGX and WFSPX.
Loading charts...
Drawdown Indicators
| ETMGX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -58.21% | +21.19% |
Max Drawdown (1Y)Largest decline over 1 year | -13.14% | -8.90% | -4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -18.74% | -3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -24.51% | -0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -37.02% | -33.74% | -3.28% |
Current DrawdownCurrent decline from peak | -12.90% | -0.74% | -12.16% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -12.77% | +6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 1.90% | +3.95% |
Volatility
ETMGX vs. WFSPX - Volatility Comparison
Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) has a higher volatility of 4.45% compared to iShares S&P 500 Index Fund (WFSPX) at 2.92%. This indicates that ETMGX's price experiences larger fluctuations and is considered to be riskier than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETMGX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 2.92% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.19% | 8.99% | +2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.08% | 11.88% | +4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 16.88% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.92% | 18.02% | +1.90% |
ETMGX vs. WFSPX - Expense Ratio Comparison
ETMGX has a 1.11% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
ETMGX vs. WFSPX - Dividend Comparison
ETMGX's dividend yield for the trailing twelve months is around 6.93%, more than WFSPX's 1.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 6.93% | 7.04% | 2.85% | 1.36% | 2.80% | 8.28% | 0.09% | 6.50% | 7.75% | 11.87% | 6.00% | 5.50% |
WFSPX iShares S&P 500 Index Fund | 1.58% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
ETMGX and WFSPX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETMGX has higher volatility (4.45%) compared to WFSPX (2.92%). In terms of maximum drawdown, ETMGX dropped -37.02% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (2.37 vs -0.13), 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.
Find the right allocation for ETMGX and WFSPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer