ETVAX vs. MUC
ETVAX (Eaton Vance Virginia Municipal Income Fund) and MUC (BlackRock MuniHoldings California Quality Fund) are both Municipal Bonds funds. Over the past 10 years, ETVAX returned 1.89%/yr vs 0.90%/yr for MUC. At a 0.26 correlation, their price movements are largely independent. ETVAX charges 0.69%/yr vs 2.14%/yr for MUC.
Performance
ETVAX vs. MUC - Performance Comparison
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Returns By Period
In the year-to-date period, ETVAX achieves a 3.13% return, which is significantly lower than MUC's 7.01% return. Over the past 10 years, ETVAX has outperformed MUC with an annualized return of 1.89%, while MUC has yielded a comparatively lower 0.90% annualized return.
ETVAX
- 1D
- 0.27%
- 1M
- 0.96%
- YTD
- 3.13%
- 6M
- 3.13%
- 1Y
- 8.73%
- 3Y*
- 4.50%
- 5Y*
- 1.07%
- 10Y*
- 1.89%
MUC
- 1D
- 0.18%
- 1M
- 2.74%
- YTD
- 7.01%
- 6M
- 7.01%
- 1Y
- 12.85%
- 3Y*
- 6.17%
- 5Y*
- -2.38%
- 10Y*
- 0.90%
ETVAX vs. MUC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETVAX Eaton Vance Virginia Municipal Income Fund | 3.13% | 5.36% | 2.77% | 3.93% | -9.12% | 0.55% | 5.32% | 6.49% | 1.70% | 2.39% |
MUC BlackRock MuniHoldings California Quality Fund | 7.01% | 5.96% | 0.76% | 7.86% | -26.81% | 7.38% | 11.85% | 18.12% | -9.00% | 6.07% |
Correlation
The correlation between ETVAX and MUC is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 1998 | 0.26 |
The correlation between ETVAX and MUC shifts across timeframes, from 0.26 (all time) to 0.48 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ETVAX vs. MUC — Risk / Return Rank
ETVAX
MUC
ETVAX vs. MUC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Virginia Municipal Income Fund (ETVAX) and BlackRock MuniHoldings California Quality Fund (MUC). 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 | MUC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.84 | 1.30 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 1.98 | +1.30 |
| Martin ratioReturn relative to average drawdown | 11.24 | 8.02 | +3.22 |
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Drawdowns
ETVAX vs. MUC - Drawdown Comparison
The maximum ETVAX drawdown since its inception was -30.84%, smaller than the maximum MUC drawdown of -48.97%. Use the drawdown chart below to compare losses from any high point for ETVAX and MUC.
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Drawdown Indicators
| ETVAX | MUC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.84% | -48.97% | +18.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -6.53% | +3.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.75% | -14.51% | +7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -13.79% | -38.29% | +24.50% |
Max Drawdown (10Y)Largest decline over 10 years | -13.79% | -38.29% | +24.50% |
Current DrawdownCurrent decline from peak | 0.00% | -14.13% | +14.13% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -9.92% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 1.61% | -0.82% |
Volatility
ETVAX vs. MUC - Volatility Comparison
The current volatility for Eaton Vance Virginia Municipal Income Fund (ETVAX) is 0.50%, while BlackRock MuniHoldings California Quality Fund (MUC) has a volatility of 2.02%. This indicates that ETVAX experiences smaller price fluctuations and is considered to be less risky than MUC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETVAX | MUC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 2.02% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 6.30% | -4.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 8.19% | -5.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 11.51% | -7.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.94% | 11.90% | -7.96% |
ETVAX vs. MUC - Expense Ratio Comparison
ETVAX has a 0.69% expense ratio, which is lower than MUC's 2.14% expense ratio.
Dividends
ETVAX vs. MUC - Dividend Comparison
ETVAX's dividend yield for the trailing twelve months is around 3.26%, less than MUC's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETVAX Eaton Vance Virginia Municipal Income Fund | 3.26% | 4.15% | 3.71% | 2.42% | 2.39% | 2.04% | 2.53% | 3.20% | 3.36% | 3.67% | 3.66% | 3.81% |
MUC BlackRock MuniHoldings California Quality Fund | 5.83% | 6.06% | 5.62% | 3.84% | 5.79% | 4.27% | 3.96% | 3.90% | 4.99% | 5.14% | 5.45% | 5.46% |
Frequently Asked Questions
ETVAX and MUC have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUC has higher volatility (2.02%) compared to ETVAX (0.50%). In terms of maximum drawdown, ETVAX dropped -30.84% vs MUC's -48.97%.
ETVAX currently has the higher Sharpe Ratio (3.08 vs 1.58), 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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