ETSIX vs. ESIIX

Last updated Jun 5, 2026

ETSIX (Eaton Vance Strategic Income Fund Class I) and ESIIX (Eaton Vance Strategic Income Fund Class I) are both Multisector Bonds funds from Eaton Vance. Both are actively managed. Over the past 10 years, ETSIX returned 4.73%/yr vs 5.20%/yr for ESIIX. Their correlation of 0.93 suggests significant overlap in exposure. ETSIX charges 1.46%/yr vs 1.21%/yr for ESIIX.

Performance

ETSIX vs. ESIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Strategic Income Fund Class I (ETSIX) and Eaton Vance Strategic Income Fund Class I (ESIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETSIX achieves a 2.05% return, which is significantly lower than ESIIX's 2.18% return. Over the past 10 years, ETSIX has underperformed ESIIX with an annualized return of 4.73%, while ESIIX has yielded a comparatively higher 5.20% annualized return.

ETSIX

• 1D: -0.15%
• 1M: 0.13%
• YTD: 2.05%
• 6M: 2.68%
• 1Y: 9.41%
• 3Y*: 8.28%
• 5Y*: 4.83%
• 10Y*: 4.73%

ESIIX

• 1D: 0.00%
• 1M: 0.15%
• YTD: 2.18%
• 6M: 2.83%
• 1Y: 9.72%
• 3Y*: 8.99%
• 5Y*: 5.34%
• 10Y*: 5.20%

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

ETSIX vs. ESIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETSIX Eaton Vance Strategic Income Fund Class I	2.05%	10.88%	6.38%	8.24%	-2.55%	1.33%	7.52%	6.58%	-2.68%	4.90%
ESIIX Eaton Vance Strategic Income Fund Class I	2.18%	12.46%	6.66%	8.52%	-2.32%	1.59%	7.80%	7.65%	-2.44%	5.16%

Correlation

The correlation between ETSIX and ESIIX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 6, 2009	0.93

The correlation between ETSIX and ESIIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

ETSIX vs. ESIIX — Risk / Return Rank

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

ETSIX

ETSIX Risk / Return Rank: 90
ETSIX Sharpe Ratio Rank: 96
ETSIX Sortino Ratio Rank: 96
ETSIX Omega Ratio Rank: 95
ETSIX Calmar Ratio Rank: 86
ETSIX Martin Ratio Rank: 77

ESIIX

ESIIX Risk / Return Rank: 92
ESIIX Sharpe Ratio Rank: 97
ESIIX Sortino Ratio Rank: 96
ESIIX Omega Ratio Rank: 96
ESIIX Calmar Ratio Rank: 87
ESIIX Martin Ratio Rank: 86

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.

ETSIX vs. ESIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Strategic Income Fund Class I (ETSIX) and Eaton Vance Strategic Income Fund Class I (ESIIX). 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.

	ETSIX	ESIIX	Difference
Sharpe ratio: Return per unit of total volatility	3.52	3.61	-0.09
Sortino ratio: Return per unit of downside risk	5.26	5.41	-0.16
Omega ratio: Gain probability vs. loss probability	1.79	1.83	-0.04
Calmar ratio: Return relative to maximum drawdown	4.10	4.21	-0.12
Martin ratio: Return relative to average drawdown	14.35	16.19	-1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETSIX vs. ESIIX - Sharpe Ratio Comparison

The current ETSIX Sharpe Ratio is 3.52, which is comparable to the ESIIX Sharpe Ratio of 3.61. The chart below compares the historical Sharpe Ratios of ETSIX and ESIIX, 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

	ETSIX	ESIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.52	3.61	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.51	1.68	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.50	1.65	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	0.46	+0.88

Drawdowns

ETSIX vs. ESIIX - Drawdown Comparison

The maximum ETSIX drawdown since its inception was -12.63%, smaller than the maximum ESIIX drawdown of -26.87%. Use the drawdown chart below to compare losses from any high point for ETSIX and ESIIX.

Drawdown Indicators

	ETSIX	ESIIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.63%	-26.87%	+14.24%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-2.44%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-2.52%	-2.46%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-6.34%	-6.18%	-0.16%
Max Drawdown (10Y) Largest decline over 10 years	-12.28%	-12.25%	-0.03%
Current Drawdown Current decline from peak	-0.75%	-0.55%	-0.20%
Average Drawdown Average peak-to-trough decline	-1.43%	-4.72%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.63%	+0.06%

Volatility

ETSIX vs. ESIIX - Volatility Comparison

Eaton Vance Strategic Income Fund Class I (ETSIX) and Eaton Vance Strategic Income Fund Class I (ESIIX) have volatilities of 1.06% and 1.04%, 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

	ETSIX	ESIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	1.04%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.22%	2.22%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	2.84%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.21%	3.19%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.16%	3.17%	-0.01%

ETSIX vs. ESIIX - Expense Ratio Comparison

ETSIX has a 1.46% expense ratio, which is higher than ESIIX's 1.21% expense ratio.

Dividends

ETSIX vs. ESIIX - Dividend Comparison

ETSIX's dividend yield for the trailing twelve months is around 7.11%, less than ESIIX's 7.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESIIX Eaton Vance Strategic Income Fund Class I	7.39%	7.01%	7.23%	7.19%	5.82%	4.57%	4.44%	5.29%	4.25%	3.95%	4.18%	4.59%
ETSIX Eaton Vance Strategic Income Fund Class I	7.11%	5.65%	6.97%	6.93%	5.56%	4.31%	4.19%	4.29%	3.98%	3.70%	3.94%	4.32%

Frequently Asked Questions

Can I hold both ETSIX and ESIIX in my portfolio?

With a correlation of 0.92, ETSIX and ESIIX 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.

Which is riskier, ETSIX or ESIIX?

ETSIX has higher volatility (1.06%) compared to ESIIX (1.04%). In terms of maximum drawdown, ETSIX dropped -12.63% vs ESIIX's -26.87%.

Which has better risk-adjusted returns?

ESIIX currently has the higher Sharpe Ratio (3.61 vs 3.52), 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.