ETW vs. V

Last updated Jun 4, 2026

ETW (Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund) and V (Visa Inc.) are both stocks. Both are in the Financial Services sector — ETW in Asset Management, V in Credit Services. Over the past 10 years, ETW returned 8.43%/yr vs 15.41%/yr for V. At a 0.48 correlation, their price movements are largely independent.

Performance

ETW vs. V - 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 Visa Inc. (V). 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 V's -10.55% return. Over the past 10 years, ETW has underperformed V with an annualized return of 8.43%, while V has yielded a comparatively higher 15.41% 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%

V

• 1D: -1.55%
• 1M: -4.22%
• YTD: -10.55%
• 6M: -4.83%
• 1Y: -13.94%
• 3Y*: 11.79%
• 5Y*: 7.10%
• 10Y*: 15.41%

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

ETW vs. V - 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%
V Visa Inc.	-10.55%	11.76%	22.32%	26.31%	-3.40%	-0.31%	17.12%	43.33%	16.49%	47.18%

Correlation

The correlation between ETW and V is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 20, 2008	0.48

Over the past year, the correlation between ETW and V has dropped to 0.24 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Fundamentals

EPS ETW : $2.74 V : $15.24
PE Ratio ETW : 3.45 V : 20.50
PEG Ratio ETW : 0.09 V : 1.26
PS Ratio ETW : 6.04 V : 10.59
Total Revenue (TTM) ETW : $169.79M V : $43.03B
Gross Profit (TTM) ETW : $121.86M V : $16.94B
EBITDA (TTM) ETW : $296.96M V : $27.63B

Return for Risk

ETW vs. V — 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

V

V Risk / Return Rank: 14
V Sharpe Ratio Rank: 14
V Sortino Ratio Rank: 14
V Omega Ratio Rank: 14
V Calmar Ratio Rank: 15
V Martin Ratio Rank: 11

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. V - 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 Visa Inc. (V). 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	V	Difference
Sharpe ratio: Return per unit of total volatility	1.83	-0.63	+2.47
Sortino ratio: Return per unit of downside risk	2.65	-0.79	+3.44
Omega ratio: Gain probability vs. loss probability	1.33	0.90	+0.43
Calmar ratio: Return relative to maximum drawdown	2.19	-0.69	+2.87
Martin ratio: Return relative to average drawdown	10.49	-1.28	+11.77
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. V - Sharpe Ratio Comparison

The current ETW Sharpe Ratio is 1.83, which is higher than the V Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of ETW and V, 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	V	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	-0.63	+2.47
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	0.63	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.68	-0.34

Drawdowns

ETW vs. V - Drawdown Comparison

The maximum ETW drawdown since its inception was -54.13%, roughly equal to the maximum V drawdown of -51.90%. Use the drawdown chart below to compare losses from any high point for ETW and V.

Drawdown Indicators

	ETW	V	Difference
Max Drawdown Largest peak-to-trough decline	-54.13%	-51.90%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-20.38%	+10.22%
Max Drawdown (3Y) Largest decline over 3 years	-16.28%	-20.38%	+4.10%
Max Drawdown (5Y) Largest decline over 5 years	-27.94%	-28.60%	+0.66%
Max Drawdown (10Y) Largest decline over 10 years	-47.96%	-36.36%	-11.60%
Current Drawdown Current decline from peak	-1.15%	-15.66%	+14.51%
Average Drawdown Average peak-to-trough decline	-7.69%	-8.26%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	10.94%	-8.83%

Volatility

ETW vs. V - Volatility Comparison

The current volatility for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is 3.70%, while Visa Inc. (V) has a volatility of 5.20%. This indicates that ETW experiences smaller price fluctuations and is considered to be less risky than V based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETW	V	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	5.20%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	9.70%	17.26%	-7.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	22.11%	-9.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	22.77%	-6.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	24.45%	-4.58%

Dividends

ETW vs. V - Dividend Comparison

ETW's dividend yield for the trailing twelve months is around 8.43%, more than V's 0.83% 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%
V Visa Inc.	0.83%	0.70%	0.68%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%

Financials

Frequently Asked Questions

Can I hold both ETW and V in my portfolio?

ETW and V have a correlation of 0.24, 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 V?

V has higher volatility (5.20%) compared to ETW (3.70%). In terms of maximum drawdown, ETW dropped -54.13% vs V's -51.90%.

Which has better risk-adjusted returns?

ETW currently has the higher Sharpe Ratio (1.83 vs -0.63), 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.