ETX vs. VTEB
Compare and contrast key facts about Eaton Vance Municipal Income 2028 Term Trust (ETX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Performance
ETX vs. VTEB - Performance Comparison
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ETX vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETX Eaton Vance Municipal Income 2028 Term Trust | 0.50% | 11.72% | 6.87% | 1.32% | -13.52% | -4.67% | 11.31% | 19.57% | -3.74% | 10.22% |
VTEB Vanguard Tax-Exempt Bond ETF | 0.09% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Returns By Period
In the year-to-date period, ETX achieves a 0.50% return, which is significantly higher than VTEB's 0.09% return. Over the past 10 years, ETX has outperformed VTEB with an annualized return of 3.64%, while VTEB has yielded a comparatively lower 2.09% annualized return.
ETX
- 1D
- 1.09%
- 1M
- -1.29%
- YTD
- 0.50%
- 6M
- -1.63%
- 1Y
- 7.12%
- 3Y*
- 6.44%
- 5Y*
- 1.03%
- 10Y*
- 3.64%
VTEB
- 1D
- 0.32%
- 1M
- -1.61%
- YTD
- 0.09%
- 6M
- 1.54%
- 1Y
- 3.92%
- 3Y*
- 2.78%
- 5Y*
- 0.88%
- 10Y*
- 2.09%
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Return for Risk
ETX vs. VTEB — Risk / Return Rank
ETX
VTEB
ETX vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Municipal Income 2028 Term Trust (ETX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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.
| ETX | VTEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | 0.99 | -0.29 |
Sortino ratioReturn per unit of downside risk | 1.05 | 1.25 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.25 | +0.13 |
Martin ratioReturn relative to average drawdown | 3.44 | 3.69 | -0.25 |
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
| ETX | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 0.99 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.23 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.40 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.45 | -0.17 |
Correlation
The correlation between ETX and VTEB is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ETX vs. VTEB - Dividend Comparison
ETX's dividend yield for the trailing twelve months is around 5.06%, more than VTEB's 3.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETX Eaton Vance Municipal Income 2028 Term Trust | 5.06% | 5.02% | 5.33% | 4.15% | 4.62% | 3.96% | 3.60% | 3.88% | 4.46% | 4.11% | 4.33% | 4.60% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.37% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
ETX vs. VTEB - Drawdown Comparison
The maximum ETX drawdown since its inception was -32.09%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for ETX and VTEB.
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Drawdown Indicators
| ETX | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.09% | -17.00% | -15.09% |
Max Drawdown (1Y)Largest decline over 1 year | -4.93% | -3.45% | -1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -12.64% | -11.55% |
Max Drawdown (10Y)Largest decline over 10 years | -25.18% | -17.00% | -8.18% |
Current DrawdownCurrent decline from peak | -3.58% | -1.86% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -2.35% | -5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.17% | +0.82% |
Volatility
ETX vs. VTEB - Volatility Comparison
Eaton Vance Municipal Income 2028 Term Trust (ETX) has a higher volatility of 3.76% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 1.37%. This indicates that ETX's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETX | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 1.37% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.12% | 1.87% | +6.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.35% | 4.00% | +6.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.21% | 3.88% | +9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.41% | 5.25% | +9.16% |