ETV vs. ETW
ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) and ETW (Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, ETV returned 9.49%/yr vs 8.58%/yr for ETW. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
ETV vs. ETW - Performance Comparison
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Returns By Period
In the year-to-date period, ETV achieves a 7.39% return, which is significantly higher than ETW's 6.31% return. Over the past 10 years, ETV has outperformed ETW with an annualized return of 9.49%, while ETW has yielded a comparatively lower 8.58% annualized return.
ETV
- 1D
- -0.74%
- 1M
- 2.27%
- YTD
- 7.39%
- 6M
- 6.57%
- 1Y
- 20.05%
- 3Y*
- 15.52%
- 5Y*
- 7.14%
- 10Y*
- 9.49%
ETW
- 1D
- -0.63%
- 1M
- 0.71%
- YTD
- 6.31%
- 6M
- 6.65%
- 1Y
- 23.01%
- 3Y*
- 15.28%
- 5Y*
- 6.18%
- 10Y*
- 8.58%
ETV vs. ETW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 7.39% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | 6.31% | 20.10% | 19.03% | 9.34% | -23.87% | 25.36% | 3.24% | 18.87% | -12.10% | 30.42% |
Correlation
The correlation between ETV and ETW is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2005 | 0.72 |
The correlation between ETV and ETW has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
Fundamentals
ETV:
$1.73B
ETW:
$1.02B
ETV:
$4.95
ETW:
$2.74
ETV:
2.99
ETW:
3.43
ETV:
0.10
ETW:
0.09
ETV:
5.69
ETW:
6.01
ETV:
0.95
ETW:
0.92
ETV:
$303.84M
ETW:
$169.79M
ETV:
$149.51M
ETW:
$121.86M
ETV:
$578.17M
ETW:
$296.96M
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Return for Risk
ETV vs. ETW — Risk / Return Rank
ETV
ETW
ETV vs. ETW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) and Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW). 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.
| ETV | ETW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.27 | -0.33 |
| Martin ratioReturn relative to average drawdown | 9.91 | 10.72 | -0.81 |
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Drawdowns
ETV vs. ETW - Drawdown Comparison
The maximum ETV drawdown since its inception was -52.11%, roughly equal to the maximum ETW drawdown of -54.13%. Use the drawdown chart below to compare losses from any high point for ETV and ETW.
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Drawdown Indicators
| ETV | ETW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -54.13% | +2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -10.16% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -20.27% | -16.28% | -3.99% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -27.94% | +5.23% |
Max Drawdown (10Y)Largest decline over 10 years | -42.39% | -47.96% | +5.57% |
Current DrawdownCurrent decline from peak | -0.74% | -1.08% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -7.69% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.15% | -0.12% |
Volatility
ETV vs. ETW - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is 3.19%, while Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) has a volatility of 3.68%. This indicates that ETV experiences smaller price fluctuations and is considered to be less risky than ETW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETV | ETW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.68% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 10.22% | 10.20% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 12.48% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 16.69% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 19.89% | -0.59% |
Dividends
ETV vs. ETW - Dividend Comparison
ETV's dividend yield for the trailing twelve months is around 8.05%, less than ETW's 8.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.05% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | 8.49% | 8.64% | 9.17% | 8.99% | 10.87% | 7.80% | 9.01% | 8.41% | 11.46% | 9.27% | 11.59% | 10.40% |
Financials
ETV vs. ETW - Financials Comparison
This section allows you to compare key financial metrics between Eaton Vance Tax-Managed Buy-Write Opportunities Fund and Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
ETV and ETW have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETW has higher volatility (3.68%) compared to ETV (3.19%). In terms of maximum drawdown, ETV dropped -52.11% vs ETW's -54.13%.
ETW currently has the higher Sharpe Ratio (1.86 vs 1.61), 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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