ETVAX vs. NMTRX
ETVAX (Eaton Vance Virginia Municipal Income Fund) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds. Over the past 10 years, ETVAX returned 1.91%/yr vs 2.29%/yr for NMTRX. A 0.59 correlation means they provide meaningful diversification when combined. ETVAX charges 0.69%/yr vs 0.05%/yr for NMTRX.
Performance
ETVAX vs. NMTRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ETVAX having a 2.57% return and NMTRX slightly higher at 2.68%. Over the past 10 years, ETVAX has underperformed NMTRX with an annualized return of 1.91%, while NMTRX has yielded a comparatively higher 2.29% annualized return.
ETVAX
- 1D
- 0.14%
- 1M
- 1.93%
- YTD
- 2.57%
- 6M
- 2.85%
- 1Y
- 9.09%
- 3Y*
- 4.42%
- 5Y*
- 0.97%
- 10Y*
- 1.91%
NMTRX
- 1D
- 0.10%
- 1M
- 2.01%
- YTD
- 2.68%
- 6M
- 3.08%
- 1Y
- 8.28%
- 3Y*
- 4.20%
- 5Y*
- 0.52%
- 10Y*
- 2.29%
ETVAX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETVAX Eaton Vance Virginia Municipal Income Fund | 2.57% | 5.36% | 2.77% | 3.93% | -9.12% | 0.55% | 5.32% | 6.49% | 1.70% | 2.39% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 2.68% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Correlation
The correlation between ETVAX and NMTRX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | 0.59 |
Over the past year, ETVAX and NMTRX have become more correlated (0.83) than their long-term average of 0.59, meaning their price movements have been converging.
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Return for Risk
ETVAX vs. NMTRX — Risk / Return Rank
ETVAX
NMTRX
ETVAX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Virginia Municipal Income Fund (ETVAX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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 | NMTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.86 | 1.71 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.14 | +0.21 |
| Martin ratioReturn relative to average drawdown | 11.49 | 11.55 | -0.06 |
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Drawdowns
ETVAX vs. NMTRX - Drawdown Comparison
The maximum ETVAX drawdown since its inception was -30.84%, which is greater than NMTRX's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for ETVAX and NMTRX.
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Drawdown Indicators
| ETVAX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.84% | -16.36% | -14.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.65% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -6.75% | -5.77% | -0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -13.79% | -16.36% | +2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -13.79% | -16.36% | +2.57% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -2.90% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.72% | +0.07% |
Volatility
ETVAX vs. NMTRX - Volatility Comparison
The current volatility for Eaton Vance Virginia Municipal Income Fund (ETVAX) is 0.81%, while Nuveen Municipal Total Return Managed Accounts (NMTRX) has a volatility of 0.88%. This indicates that ETVAX experiences smaller price fluctuations and is considered to be less risky than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETVAX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.88% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.01% | 2.24% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 2.97% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 4.02% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.94% | 4.40% | -0.46% |
ETVAX vs. NMTRX - Expense Ratio Comparison
ETVAX has a 0.69% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Dividends
ETVAX vs. NMTRX - Dividend Comparison
ETVAX's dividend yield for the trailing twelve months is around 3.28%, less than NMTRX's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETVAX Eaton Vance Virginia Municipal Income Fund | 3.28% | 4.15% | 3.71% | 2.42% | 2.39% | 2.04% | 2.53% | 3.20% | 3.36% | 3.67% | 3.66% | 3.81% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.57% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Frequently Asked Questions
ETVAX and NMTRX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMTRX has higher volatility (0.88%) compared to ETVAX (0.81%). In terms of maximum drawdown, ETVAX dropped -30.84% vs NMTRX's -16.36%.
ETVAX currently has the higher Sharpe Ratio (3.13 vs 2.80), 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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