Correlation
The correlation between ETW and SPY is 0.70, 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.
ETW vs. SPY
Compare and contrast key facts about Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ETW or SPY.
Performance
ETW vs. SPY - Performance Comparison
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Key characteristics
ETW:
0.79
SPY:
0.70
ETW:
1.12
SPY:
1.02
ETW:
1.17
SPY:
1.15
ETW:
0.83
SPY:
0.68
ETW:
4.12
SPY:
2.57
ETW:
3.26%
SPY:
4.93%
ETW:
18.99%
SPY:
20.42%
ETW:
-54.13%
SPY:
-55.19%
ETW:
-0.61%
SPY:
-3.55%
Returns By Period
In the year-to-date period, ETW achieves a 3.94% return, which is significantly higher than SPY's 0.87% return. Over the past 10 years, ETW has underperformed SPY with an annualized return of 6.11%, while SPY has yielded a comparatively higher 12.73% annualized return.
ETW
3.94%
3.38%
2.92%
14.14%
8.11%
9.58%
6.11%
SPY
0.87%
5.54%
-1.56%
13.18%
14.25%
15.81%
12.73%
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Risk-Adjusted Performance
ETW vs. SPY — Risk-Adjusted Performance Rank
ETW
SPY
ETW vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and SPDR S&P 500 ETF (SPY). 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.
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Dividends
ETW vs. SPY - Dividend Comparison
ETW's dividend yield for the trailing twelve months is around 9.42%, more than SPY's 1.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | 9.42% | 9.12% | 8.96% | 10.90% | 7.83% | 9.05% | 8.45% | 11.46% | 9.26% | 11.56% | 10.37% | 10.56% |
SPY SPDR S&P 500 ETF | 1.22% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
ETW vs. SPY - Drawdown Comparison
The maximum ETW drawdown since its inception was -54.13%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ETW and SPY.
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Volatility
ETW vs. SPY - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is 2.54%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.86%. This indicates that ETW experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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