ETW vs. ETV
ETW (Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund) and ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, ETW returned 8.43%/yr vs 9.31%/yr for ETV. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
ETW vs. ETV - Performance Comparison
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Returns By Period
In the year-to-date period, ETW achieves a 6.23% return, which is significantly lower than ETV's 7.46% return. Over the past 10 years, ETW has underperformed ETV with an annualized return of 8.43%, while ETV has yielded a comparatively higher 9.31% annualized return.
ETW
- 1D
- -0.63%
- 1M
- 2.00%
- YTD
- 6.23%
- 6M
- 7.82%
- 1Y
- 22.13%
- 3Y*
- 15.15%
- 5Y*
- 6.22%
- 10Y*
- 8.43%
ETV
- 1D
- -0.27%
- 1M
- 2.96%
- YTD
- 7.46%
- 6M
- 8.52%
- 1Y
- 19.27%
- 3Y*
- 16.37%
- 5Y*
- 7.61%
- 10Y*
- 9.31%
ETW vs. ETV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | 6.23% | 20.10% | 19.03% | 9.34% | -23.87% | 25.36% | 3.24% | 18.87% | -12.10% | 30.42% |
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 7.46% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
Correlation
The correlation between ETW and ETV is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2005 | 0.72 |
The correlation between ETW and ETV has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
Fundamentals
ETW:
$1.03B
ETV:
$1.74B
ETW:
$2.74
ETV:
$4.95
ETW:
3.45
ETV:
3.01
ETW:
0.09
ETV:
0.10
ETW:
6.04
ETV:
5.73
ETW:
0.92
ETV:
0.95
ETW:
$169.79M
ETV:
$303.84M
ETW:
$121.86M
ETV:
$149.51M
ETW:
$296.96M
ETV:
$578.17M
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Return for Risk
ETW vs. ETV — Risk / Return Rank
ETW
ETV
ETW vs. ETV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). 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.
| ETW | ETV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.28 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 1.87 | +0.31 |
| Martin ratioReturn relative to average drawdown | 10.49 | 9.60 | +0.89 |
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
| ETW | ETV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 1.58 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.45 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.48 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.43 | -0.08 |
Drawdowns
ETW vs. ETV - Drawdown Comparison
The maximum ETW drawdown since its inception was -54.13%, roughly equal to the maximum ETV drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for ETW and ETV.
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Drawdown Indicators
| ETW | ETV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.13% | -52.11% | -2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.16% | -10.34% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -16.28% | -20.27% | +3.99% |
Max Drawdown (5Y)Largest decline over 5 years | -27.94% | -22.71% | -5.23% |
Max Drawdown (10Y)Largest decline over 10 years | -47.96% | -42.39% | -5.57% |
Current DrawdownCurrent decline from peak | -1.15% | -0.27% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -5.58% | -2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.01% | +0.10% |
Volatility
ETW vs. ETV - Volatility Comparison
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) has a higher volatility of 3.70% compared to Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) at 3.40%. This indicates that ETW's price experiences larger fluctuations and is considered to be riskier than ETV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETW | ETV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 3.40% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 10.01% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.14% | 12.24% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 16.88% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.87% | 19.33% | +0.54% |
Dividends
ETW vs. ETV - Dividend Comparison
ETW's dividend yield for the trailing twelve months is around 8.43%, more than ETV's 7.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 7.99% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | 8.43% | 8.64% | 9.17% | 8.99% | 10.87% | 7.80% | 9.01% | 8.41% | 11.46% | 9.27% | 11.59% | 10.40% |
Financials
ETW vs. ETV - Financials Comparison
This section allows you to compare key financial metrics between Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund and Eaton Vance Tax-Managed Buy-Write Opportunities Fund. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
ETW and ETV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETW has higher volatility (3.70%) compared to ETV (3.40%). In terms of maximum drawdown, ETW dropped -54.13% vs ETV's -52.11%.
ETW currently has the higher Sharpe Ratio (1.83 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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