EVCGX vs. CAF
EVCGX (Eaton Vance Greater China Growth Fund) and CAF (Morgan Stanley China A Share Fund) are both China Equities funds. Over the past 10 years, EVCGX returned 4.38%/yr vs 4.96%/yr for CAF. Their 0.63 correlation means they have sometimes moved together and sometimes differently. EVCGX charges 1.53%/yr vs 1.67%/yr for CAF.
Performance
EVCGX vs. CAF - Performance Comparison
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Returns By Period
In the year-to-date period, EVCGX achieves a -4.71% return, which is significantly lower than CAF's 10.31% return. Over the past 10 years, EVCGX has underperformed CAF with an annualized return of 4.38%, while CAF has yielded a comparatively higher 4.96% annualized return.
EVCGX
- 1D
- 0.95%
- 1M
- 6.98%
- 6M
- -7.45%
- YTD
- -4.71%
- 1Y
- 2.16%
- 3Y*
- 3.94%
- 5Y*
- -4.55%
- 10Y*
- 4.38%
- ALL TIME*
- 5.38%
CAF
- 1D
- -0.93%
- 1M
- -7.04%
- 6M
- 4.36%
- YTD
- 10.31%
- 1Y
- 39.43%
- 3Y*
- 14.77%
- 5Y*
- 0.67%
- 10Y*
- 4.96%
- ALL TIME*
- 9.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $556.35K | $451.08K | $622.83K | |
| $0.00 | $0.00 | $0.00 |
EVCGX vs. CAF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVCGX Eaton Vance Greater China Growth Fund | -4.71% | 26.06% | 9.30% | -17.33% | -22.53% | -9.61% | 25.22% | 23.32% | -9.90% | 49.26% |
CAF Morgan Stanley China A Share Fund | 10.31% | 41.51% | 0.34% | -9.39% | -30.41% | -1.77% | 12.74% | 23.50% | -14.26% | 44.94% |
Correlation
The correlation between EVCGX and CAF is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2006 | 0.63 |
The correlation between EVCGX and CAF has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.
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Return for Risk
EVCGX vs. CAF — Risk / Return Rank
EVCGX
CAF
EVCGX vs. CAF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Greater China Growth Fund (EVCGX) and Morgan Stanley China A Share Fund (CAF). 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.
| EVCGX | CAF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.32 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 3.44 | -3.47 |
| Martin ratioReturn relative to average drawdown | -0.06 | 9.49 | -9.56 |
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Drawdowns
EVCGX vs. CAF - Drawdown Comparison
The maximum EVCGX drawdown since its inception was -68.37%, roughly equal to the maximum CAF drawdown of -65.88%. Use the drawdown chart below to compare losses from any high point for EVCGX and CAF.
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Drawdown Indicators
| EVCGX | CAF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.37% | -65.88% | -2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -19.19% | -10.98% | -8.21% |
Max Drawdown (3Y)Largest decline over 3 years | -25.40% | -26.27% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -49.77% | -45.26% | -4.51% |
Max Drawdown (10Y)Largest decline over 10 years | -56.84% | -49.01% | -7.83% |
Current DrawdownCurrent decline from peak | -33.31% | -10.22% | -23.09% |
Average DrawdownAverage peak-to-trough decline | -28.09% | -25.75% | -2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.92% | 3.97% | +5.95% |
Volatility
EVCGX vs. CAF - Volatility Comparison
The current volatility for Eaton Vance Greater China Growth Fund (EVCGX) is 6.08%, while Morgan Stanley China A Share Fund (CAF) has a volatility of 8.51%. This indicates that EVCGX experiences smaller price fluctuations and is considered to be less risky than CAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVCGX | CAF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 8.51% | -2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 15.29% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.34% | 20.82% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.75% | 21.69% | +4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.17% | 21.96% | +0.21% |
EVCGX vs. CAF - Expense Ratio Comparison
EVCGX has a 1.53% expense ratio, which is lower than CAF's 1.67% expense ratio.
Dividends
EVCGX vs. CAF - Dividend Comparison
EVCGX's dividend yield for the trailing twelve months is around 1.66%, more than CAF's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 1.37% | 1.51% | 2.63% | 0.96% | 0.02% | 6.57% | 10.40% | 3.78% | 9.48% | 5.20% | 4.69% | 67.03% |
EVCGX Eaton Vance Greater China Growth Fund | 1.66% | 1.58% | 2.15% | 8.47% | 6.09% | 5.43% | 9.85% | 3.19% | 9.89% | 11.34% | 0.94% | 6.33% |
Frequently Asked Questions
EVCGX and CAF have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAF has higher volatility (8.51%) compared to EVCGX (6.08%). In terms of maximum drawdown, EVCGX dropped -68.37% vs CAF's -65.88%.
CAF currently has the higher Sharpe Ratio (1.81 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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