ETV vs. TIP
ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) is a stock, while TIP (iShares TIPS Bond ETF) is Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Over the past 10 years, ETV returned 9.16%/yr vs 2.45%/yr for TIP. At a correlation of -0.06, they often move in opposite directions.
Performance
ETV vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, ETV achieves a 5.95% return, which is significantly higher than TIP's 0.95% return. Over the past 10 years, ETV has outperformed TIP with an annualized return of 9.16%, while TIP has yielded a comparatively lower 2.45% annualized return.
ETV
- 1D
- -0.20%
- 1M
- 0.89%
- YTD
- 5.95%
- 6M
- 6.77%
- 1Y
- 18.79%
- 3Y*
- 15.14%
- 5Y*
- 6.96%
- 10Y*
- 9.16%
TIP
- 1D
- -0.11%
- 1M
- -0.90%
- YTD
- 0.95%
- 6M
- 0.97%
- 1Y
- 4.81%
- 3Y*
- 3.70%
- 5Y*
- 0.88%
- 10Y*
- 2.45%
ETV vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 5.95% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
TIP iShares TIPS Bond ETF | 0.95% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between ETV and TIP is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2005 | -0.06 |
The correlation between ETV and TIP shifts across timeframes, from -0.06 (all time) to 0.16 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ETV vs. TIP — Risk / Return Rank
ETV
TIP
ETV vs. TIP - 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 iShares TIPS Bond ETF (TIP). 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.
| ETV | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.45 | -0.62 |
| Martin ratioReturn relative to average drawdown | 9.34 | 7.37 | +1.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETV | TIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.43 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.14 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.43 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.57 | -0.14 |
Drawdowns
ETV vs. TIP - Drawdown Comparison
The maximum ETV drawdown since its inception was -52.11%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for ETV and TIP.
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Drawdown Indicators
| ETV | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -14.57% | -37.54% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -1.98% | -8.36% |
Max Drawdown (3Y)Largest decline over 3 years | -20.27% | -4.54% | -15.73% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -14.51% | -8.20% |
Max Drawdown (10Y)Largest decline over 10 years | -42.39% | -14.51% | -27.88% |
Current DrawdownCurrent decline from peak | -1.67% | -0.90% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -3.43% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 0.65% | +1.36% |
Volatility
ETV vs. TIP - Volatility Comparison
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) has a higher volatility of 3.60% compared to iShares TIPS Bond ETF (TIP) at 1.01%. This indicates that ETV's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETV | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 1.01% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 2.33% | +7.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.31% | 3.38% | +8.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.88% | 6.21% | +10.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.34% | 5.74% | +13.60% |
Dividends
ETV vs. TIP - Dividend Comparison
ETV's dividend yield for the trailing twelve months is around 8.11%, more than TIP's 3.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.11% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
TIP iShares TIPS Bond ETF | 3.78% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
ETV and TIP have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETV has higher volatility (3.60%) compared to TIP (1.01%). In terms of maximum drawdown, ETV dropped -52.11% vs TIP's -14.57%.
ETV currently has the higher Sharpe Ratio (1.54 vs 1.43), 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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