ETNJX vs. EHSTX

Last updated Jun 4, 2026

ETNJX (Eaton Vance New Jersey Municipal Income Fund) and EHSTX (Eaton Vance Large-Cap Value Fund) are both mutual funds - ETNJX is a Municipal Bonds fund managed by Eaton Vance, while EHSTX is a Large Cap Value Equities fund managed by Eaton Vance. Over the past 10 years, ETNJX returned 2.26%/yr vs 10.93%/yr for EHSTX. At a 0.02 correlation, their price movements are largely independent. ETNJX charges 0.69%/yr vs 1.01%/yr for EHSTX.

Performance

ETNJX vs. EHSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance New Jersey Municipal Income Fund (ETNJX) and Eaton Vance Large-Cap Value Fund (EHSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETNJX achieves a 1.88% return, which is significantly lower than EHSTX's 12.24% return. Over the past 10 years, ETNJX has underperformed EHSTX with an annualized return of 2.26%, while EHSTX has yielded a comparatively higher 10.93% annualized return.

ETNJX

• 1D: 0.12%
• 1M: 0.63%
• YTD: 1.88%
• 6M: 2.17%
• 1Y: 8.72%
• 3Y*: 3.80%
• 5Y*: 0.65%
• 10Y*: 2.26%

EHSTX

• 1D: 0.64%
• 1M: 3.92%
• YTD: 12.24%
• 6M: 13.35%
• 1Y: 23.28%
• 3Y*: 14.87%
• 5Y*: 9.17%
• 10Y*: 10.93%

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

ETNJX vs. EHSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETNJX Eaton Vance New Jersey Municipal Income Fund	1.88%	4.21%	2.12%	5.13%	-9.80%	1.34%	5.40%	8.62%	2.00%	4.78%
EHSTX Eaton Vance Large-Cap Value Fund	12.24%	12.11%	11.25%	7.93%	-2.80%	24.25%	2.29%	30.84%	-6.96%	14.79%

Correlation

The correlation between ETNJX and EHSTX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Apr 15, 1994	0.02

The correlation between ETNJX and EHSTX shifts across timeframes, from -0.03 (10 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ETNJX vs. EHSTX — Risk / Return Rank

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

ETNJX

ETNJX Risk / Return Rank: 80
ETNJX Sharpe Ratio Rank: 88
ETNJX Sortino Ratio Rank: 93
ETNJX Omega Ratio Rank: 94
ETNJX Calmar Ratio Rank: 71
ETNJX Martin Ratio Rank: 57

EHSTX

EHSTX Risk / Return Rank: 55
EHSTX Sharpe Ratio Rank: 54
EHSTX Sortino Ratio Rank: 52
EHSTX Omega Ratio Rank: 49
EHSTX Calmar Ratio Rank: 58
EHSTX Martin Ratio Rank: 60

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.

ETNJX vs. EHSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance New Jersey Municipal Income Fund (ETNJX) and Eaton Vance Large-Cap Value Fund (EHSTX). 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.

	ETNJX	EHSTX	Difference
Sharpe ratio: Return per unit of total volatility	2.89	2.17	+0.72
Sortino ratio: Return per unit of downside risk	4.74	3.05	+1.69
Omega ratio: Gain probability vs. loss probability	1.73	1.38	+0.35
Calmar ratio: Return relative to maximum drawdown	3.27	2.92	+0.35
Martin ratio: Return relative to average drawdown	11.40	11.82	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETNJX vs. EHSTX - Sharpe Ratio Comparison

The current ETNJX Sharpe Ratio is 2.89, which is higher than the EHSTX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ETNJX and EHSTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETNJX	EHSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.89	2.17	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.63	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.63	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.53	+0.41

Drawdowns

ETNJX vs. EHSTX - Drawdown Comparison

The maximum ETNJX drawdown since its inception was -31.32%, smaller than the maximum EHSTX drawdown of -53.47%. Use the drawdown chart below to compare losses from any high point for ETNJX and EHSTX.

Drawdown Indicators

	ETNJX	EHSTX	Difference
Max Drawdown Largest peak-to-trough decline	-31.32%	-53.47%	+22.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-8.29%	+5.65%
Max Drawdown (3Y) Largest decline over 3 years	-5.98%	-16.44%	+10.46%
Max Drawdown (5Y) Largest decline over 5 years	-14.70%	-16.44%	+1.74%
Max Drawdown (10Y) Largest decline over 10 years	-14.70%	-39.30%	+24.60%
Current Drawdown Current decline from peak	-0.20%	-0.53%	+0.33%
Average Drawdown Average peak-to-trough decline	-2.63%	-7.40%	+4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	2.04%	-1.29%

Volatility

ETNJX vs. EHSTX - Volatility Comparison

The current volatility for Eaton Vance New Jersey Municipal Income Fund (ETNJX) is 1.14%, while Eaton Vance Large-Cap Value Fund (EHSTX) has a volatility of 3.37%. This indicates that ETNJX experiences smaller price fluctuations and is considered to be less risky than EHSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETNJX	EHSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	3.37%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	8.31%	-6.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	11.16%	-8.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.05%	14.74%	-10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.22%	17.28%	-13.06%

ETNJX vs. EHSTX - Expense Ratio Comparison

ETNJX has a 0.69% expense ratio, which is lower than EHSTX's 1.01% expense ratio.

Dividends

ETNJX vs. EHSTX - Dividend Comparison

ETNJX's dividend yield for the trailing twelve months is around 3.31%, less than EHSTX's 5.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EHSTX Eaton Vance Large-Cap Value Fund	5.42%	6.12%	4.03%	2.93%	4.25%	7.32%	1.94%	2.76%	10.94%	5.88%	1.33%	11.02%
ETNJX Eaton Vance New Jersey Municipal Income Fund	3.31%	4.16%	3.49%	2.40%	2.53%	2.37%	2.71%	3.27%	3.39%	3.56%	3.62%	3.61%

Frequently Asked Questions

Can I hold both ETNJX and EHSTX in my portfolio?

ETNJX and EHSTX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETNJX or EHSTX?

EHSTX has higher volatility (3.37%) compared to ETNJX (1.14%). In terms of maximum drawdown, ETNJX dropped -31.32% vs EHSTX's -53.47%.

Which has better risk-adjusted returns?

ETNJX currently has the higher Sharpe Ratio (2.89 vs 2.17), 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.