ETY vs. EVV
ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) and EVV (Eaton Vance Limited Duration Income Fund) are both mutual funds - ETY is a Derivative Income fund actively managed by Eaton Vance, while EVV is a Short-Term Bond fund managed by Eaton Vance. Over the past 10 years, ETY returned 12.19%/yr vs 5.04%/yr for EVV. Their 0.42 correlation means their historical movements had little consistent relationship. ETY charges 1.06%/yr vs 0.04%/yr for EVV.
Performance
ETY vs. EVV - Performance Comparison
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Returns By Period
In the year-to-date period, ETY achieves a -0.36% return, which is significantly higher than EVV's -2.68% return. Over the past 10 years, ETY has outperformed EVV with an annualized return of 12.19%, while EVV has yielded a comparatively lower 5.04% annualized return.
ETY
- 1D
- 1.25%
- 1M
- 0.69%
- 6M
- -0.35%
- YTD
- -0.36%
- 1Y
- 1.79%
- 3Y*
- 15.14%
- 5Y*
- 9.04%
- 10Y*
- 12.19%
- ALL TIME*
- 8.51%
EVV
- 1D
- 0.55%
- 1M
- -1.92%
- 6M
- -3.29%
- YTD
- -2.68%
- 1Y
- -0.28%
- 3Y*
- 8.77%
- 5Y*
- 2.42%
- 10Y*
- 5.04%
- ALL TIME*
- 5.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.70M | $3.62M | $3.55M | |
| $3.54M | $4.11M | $3.74M |
ETY vs. EVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -0.36% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
EVV Eaton Vance Limited Duration Income Fund | -2.68% | 10.72% | 12.22% | 13.33% | -19.94% | 14.66% | 4.67% | 18.91% | -5.53% | 6.77% |
Correlation
The correlation between ETY and EVV is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006 | 0.42 |
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Return for Risk
ETY vs. EVV — Risk / Return Rank
ETY
EVV
ETY vs. EVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) and Eaton Vance Limited Duration Income Fund (EVV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETY | EVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.00 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | -0.03 | +0.16 |
| Martin ratioReturn relative to average drawdown | 0.44 | -0.09 | +0.53 |
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Drawdowns
ETY vs. EVV - Drawdown Comparison
The maximum ETY drawdown since its inception was -53.06%, roughly equal to the maximum EVV drawdown of -51.37%. Use the drawdown chart below to compare losses from any high point for ETY and EVV.
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Drawdown Indicators
| ETY | EVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.06% | -51.37% | -1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -14.40% | -8.65% | -5.75% |
Max Drawdown (3Y)Largest decline over 3 years | -21.28% | -9.53% | -11.75% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | -25.91% | +1.85% |
Max Drawdown (10Y)Largest decline over 10 years | -42.46% | -40.42% | -2.04% |
Current DrawdownCurrent decline from peak | -2.55% | -4.48% | +1.93% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -6.29% | -1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.12% | 3.01% | +1.11% |
Volatility
ETY vs. EVV - Volatility Comparison
Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a higher volatility of 3.83% compared to Eaton Vance Limited Duration Income Fund (EVV) at 2.02%. This indicates that ETY's price experiences larger fluctuations and is considered to be riskier than EVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETY | EVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 2.02% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 7.47% | +3.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 8.94% | +4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.96% | 12.59% | +5.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 15.38% | +4.53% |
ETY vs. EVV - Expense Ratio Comparison
ETY has a 1.06% expense ratio, which is higher than EVV's 0.04% expense ratio.
Dividends
ETY vs. EVV - Dividend Comparison
ETY's dividend yield for the trailing twelve months is around 8.16%, less than EVV's 9.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.16% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
EVV Eaton Vance Limited Duration Income Fund | 9.50% | 8.86% | 9.78% | 10.43% | 12.78% | 9.16% | 9.58% | 6.42% | 8.44% | 7.22% | 8.46% | 9.56% |
Frequently Asked Questions
ETY and EVV have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (3.83%) compared to EVV (2.02%). In terms of maximum drawdown, ETY dropped -53.06% vs EVV's -51.37%.
ETY currently has the higher Sharpe Ratio (0.13 vs -0.03), 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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