ETVAX vs. EXG
ETVAX (Eaton Vance Virginia Municipal Income Fund) and EXG (Eaton Vance Tax-Managed Global Diversified Equity Income Fund) are both mutual funds - ETVAX is a Municipal Bonds fund managed by Eaton Vance, while EXG is a Dividend fund actively managed by Eaton Vance. Over the past 10 years, ETVAX returned 1.67%/yr vs 11.08%/yr for EXG. Their 0.12 correlation means their historical movements had little consistent relationship. ETVAX charges 0.69%/yr vs 1.07%/yr for EXG.
Performance
ETVAX vs. EXG - Performance Comparison
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Returns By Period
In the year-to-date period, ETVAX achieves a 0.88% return, which is significantly lower than EXG's 7.73% return. Over the past 10 years, ETVAX has underperformed EXG with an annualized return of 1.67%, while EXG has yielded a comparatively higher 11.08% annualized return.
ETVAX
- 1D
- -0.28%
- 1M
- -2.18%
- 6M
- 0.06%
- YTD
- 0.88%
- 1Y
- 6.63%
- 3Y*
- 3.60%
- 5Y*
- 0.49%
- 10Y*
- 1.67%
- ALL TIME*
- 3.16%
EXG
- 1D
- 0.72%
- 1M
- 0.57%
- 6M
- 5.23%
- YTD
- 7.73%
- 1Y
- 24.51%
- 3Y*
- 16.89%
- 5Y*
- 8.42%
- 10Y*
- 11.08%
- ALL TIME*
- 7.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $3.71M | $3.67M | $4.14M |
ETVAX vs. EXG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETVAX Eaton Vance Virginia Municipal Income Fund | 0.88% | 5.36% | 2.77% | 3.93% | -9.12% | 0.55% | 5.32% | 6.49% | 1.70% | 2.39% |
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund | 7.73% | 27.79% | 16.04% | 11.46% | -22.24% | 31.53% | 10.19% | 28.71% | -12.09% | 29.58% |
Correlation
The correlation between ETVAX and EXG is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 23, 2007 | 0.12 |
Over the past year, ETVAX and EXG have become more correlated (0.34) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
ETVAX vs. EXG — Risk / Return Rank
ETVAX
EXG
ETVAX vs. EXG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Virginia Municipal Income Fund (ETVAX) and Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG). 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.
| ETVAX | EXG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.27 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 1.52 | +1.34 |
| Martin ratioReturn relative to average drawdown | 9.37 | 6.93 | +2.44 |
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Drawdowns
ETVAX vs. EXG - Drawdown Comparison
The maximum ETVAX drawdown since its inception was -30.84%, smaller than the maximum EXG drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for ETVAX and EXG.
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Drawdown Indicators
| ETVAX | EXG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.84% | -58.45% | +27.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -14.28% | +11.56% |
Max Drawdown (3Y)Largest decline over 3 years | -5.79% | -15.12% | +9.33% |
Max Drawdown (5Y)Largest decline over 5 years | -13.79% | -27.82% | +14.03% |
Max Drawdown (10Y)Largest decline over 10 years | -13.79% | -45.36% | +31.57% |
Current DrawdownCurrent decline from peak | -2.18% | -0.10% | -2.08% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -9.55% | +7.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 3.14% | -2.31% |
Volatility
ETVAX vs. EXG - Volatility Comparison
The current volatility for Eaton Vance Virginia Municipal Income Fund (ETVAX) is 1.10%, while Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) has a volatility of 3.59%. This indicates that ETVAX experiences smaller price fluctuations and is considered to be less risky than EXG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETVAX | EXG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 3.59% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 11.78% | -9.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 14.20% | -11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 17.57% | -13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.95% | 19.93% | -15.98% |
ETVAX vs. EXG - Expense Ratio Comparison
ETVAX has a 0.69% expense ratio, which is lower than EXG's 1.07% expense ratio.
Dividends
ETVAX vs. EXG - Dividend Comparison
ETVAX's dividend yield for the trailing twelve months is around 3.02%, less than EXG's 8.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETVAX Eaton Vance Virginia Municipal Income Fund | 3.02% | 4.15% | 3.71% | 2.42% | 2.39% | 2.04% | 2.53% | 3.20% | 3.36% | 3.67% | 3.66% | 3.81% |
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund | 8.06% | 8.27% | 9.27% | 8.60% | 10.59% | 7.27% | 8.43% | 8.42% | 12.23% | 9.84% | 12.16% | 11.02% |
Frequently Asked Questions
ETVAX and EXG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EXG has higher volatility (3.59%) compared to ETVAX (1.10%). In terms of maximum drawdown, ETVAX dropped -30.84% vs EXG's -58.45%.
ETVAX currently has the higher Sharpe Ratio (2.57 vs 1.53), 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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