ETV vs. VYM
Compare and contrast key facts about Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) and Vanguard High Dividend Yield ETF (VYM).
VYM is a passively managed fund by Vanguard that tracks the performance of the FTSE High Dividend Yield Index. It was launched on Nov 10, 2006.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ETV or VYM.
Key characteristics
| ETV | VYM | |
|---|---|---|
| YTD Return | 5.84% | 5.99% |
| 1Y Return | 11.32% | 13.09% |
| 3Y Return (Ann) | 0.99% | 7.75% |
| 5Y Return (Ann) | 5.03% | 9.60% |
| 10Y Return (Ann) | 7.93% | 9.74% |
| Sharpe Ratio | 0.90 | 1.23 |
| Daily Std Dev | 12.41% | 10.98% |
| Max Drawdown | -52.11% | -56.98% |
| Current Drawdown | -7.04% | -2.75% |
Correlation
The correlation between ETV and VYM is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
ETV vs. VYM - Performance Comparison
The year-to-date returns for both investments are quite close, with ETV having a 5.84% return and VYM slightly higher at 5.99%. Over the past 10 years, ETV has underperformed VYM with an annualized return of 7.93%, while VYM has yielded a comparatively higher 9.74% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
ETV vs. VYM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) and Vanguard High Dividend Yield ETF (VYM). 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.
Dividends
ETV vs. VYM - Dividend Comparison
ETV's dividend yield for the trailing twelve months is around 9.03%, more than VYM's 2.90% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 9.03% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% | 9.46% | 9.49% |
VYM Vanguard High Dividend Yield ETF | 2.90% | 3.12% | 3.01% | 2.76% | 3.18% | 3.03% | 3.40% | 2.80% | 2.91% | 3.22% | 2.78% | 2.81% |
Drawdowns
ETV vs. VYM - Drawdown Comparison
The maximum ETV drawdown since its inception was -52.11%, smaller than the maximum VYM drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for ETV and VYM. For additional features, visit the drawdowns tool.
Volatility
ETV vs. VYM - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is 2.90%, while Vanguard High Dividend Yield ETF (VYM) has a volatility of 3.35%. This indicates that ETV experiences smaller price fluctuations and is considered to be less risky than VYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.