ETW vs. T

Last updated Jun 4, 2026

ETW (Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund) and T (AT&T Inc.) are both stocks. ETW operates in Asset Management (Financial Services), while T operates in Telecom Services (Communication Services). Over the past 10 years, ETW returned 8.43%/yr vs 3.62%/yr for T. At a 0.34 correlation, their price movements are largely independent.

Performance

ETW vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and AT&T Inc. (T). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETW achieves a 6.23% return, which is significantly higher than T's -3.08% return. Over the past 10 years, ETW has outperformed T with an annualized return of 8.43%, while T has yielded a comparatively lower 3.62% 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%

T

• 1D: -4.42%
• 1M: -9.77%
• YTD: -3.08%
• 6M: -4.92%
• 1Y: -12.10%
• 3Y*: 22.12%
• 5Y*: 7.39%
• 10Y*: 3.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETW vs. T - 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%
T AT&T Inc.	-3.08%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between ETW and T is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 22, 2005	0.34

The correlation between ETW and T shifts across timeframes, from -0.04 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS ETW : $2.74 T : $3.04
PE Ratio ETW : 3.45 T : 7.73
PEG Ratio ETW : 0.09 T : 0.32
PS Ratio ETW : 6.04 T : 1.35
Total Revenue (TTM) ETW : $169.79M T : $125.65B
Gross Profit (TTM) ETW : $121.86M T : $105.41B
EBITDA (TTM) ETW : $296.96M T : $54.70B

Return for Risk

ETW vs. T — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETW

ETW Risk / Return Rank: 83
ETW Sharpe Ratio Rank: 86
ETW Sortino Ratio Rank: 84
ETW Omega Ratio Rank: 82
ETW Calmar Ratio Rank: 76
ETW Martin Ratio Rank: 87

T

T Risk / Return Rank: 17
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 16
T Omega Ratio Rank: 17
T Calmar Ratio Rank: 19
T Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETW vs. T - 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 AT&T Inc. (T). 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	T	Difference
Sharpe ratio Return per unit of total volatility	1.83	-0.56	+2.39
Sortino ratio Return per unit of downside risk	2.65	-0.67	+3.32
Omega ratio Gain probability vs. loss probability	1.33	0.92	+0.41
Calmar ratio Return relative to maximum drawdown	2.19	-0.59	+2.78
Martin ratio Return relative to average drawdown	10.49	-1.20	+11.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETW vs. T - Sharpe Ratio Comparison

The current ETW Sharpe Ratio is 1.83, which is higher than the T Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of ETW and T, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETW	T	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	-0.56	+2.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.31	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.15	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.38	-0.03

Drawdowns

ETW vs. T - Drawdown Comparison

The maximum ETW drawdown since its inception was -54.13%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for ETW and T.

Drawdown Indicators

	ETW	T	Difference
Max Drawdown Largest peak-to-trough decline	-54.13%	-64.15%	+10.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-20.60%	+10.44%
Max Drawdown (3Y) Largest decline over 3 years	-16.28%	-20.60%	+4.32%
Max Drawdown (5Y) Largest decline over 5 years	-27.94%	-32.01%	+4.07%
Max Drawdown (10Y) Largest decline over 10 years	-47.96%	-42.35%	-5.61%
Current Drawdown Current decline from peak	-1.15%	-18.23%	+17.08%
Average Drawdown Average peak-to-trough decline	-7.69%	-15.72%	+8.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	10.08%	-7.97%

Volatility

ETW vs. T - Volatility Comparison

The current volatility for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is 3.70%, while AT&T Inc. (T) has a volatility of 6.96%. This indicates that ETW experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETW	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	6.96%	-3.26%
Volatility (6M) Calculated over the trailing 6-month period	9.70%	17.27%	-7.57%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	21.86%	-9.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	23.92%	-7.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	23.69%	-3.82%

Dividends

ETW vs. T - Dividend Comparison

ETW's dividend yield for the trailing twelve months is around 8.43%, more than T's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Financials

Frequently Asked Questions

Can I hold both ETW and T in my portfolio?

ETW and T have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETW or T?

T has higher volatility (6.96%) compared to ETW (3.70%). In terms of maximum drawdown, ETW dropped -54.13% vs T's -64.15%.

Which has better risk-adjusted returns?

ETW currently has the higher Sharpe Ratio (1.83 vs -0.56), 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.