EVFAX vs. EVLN
EVFAX (Eaton Vance Floating-Rate Advantage Fund Class Advisers) and EVLN (Eaton Vance Floating-Rate ETF) are both Bank Loan funds from Eaton Vance. Over the past year, EVFAX returned 2.90% vs 4.09% for EVLN. At a 0.33 correlation, their price movements are largely independent. EVFAX charges 0.94%/yr vs 0.60%/yr for EVLN.
Performance
EVFAX vs. EVLN - Performance Comparison
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Returns By Period
In the year-to-date period, EVFAX achieves a 0.05% return, which is significantly lower than EVLN's 1.20% return.
EVFAX
- 1D
- -0.11%
- 1M
- 0.03%
- YTD
- 0.05%
- 6M
- 0.51%
- 1Y
- 2.90%
- 3Y*
- 6.53%
- 5Y*
- 4.49%
- 10Y*
- 4.75%
EVLN
- 1D
- -0.23%
- 1M
- -0.03%
- YTD
- 1.20%
- 6M
- 1.27%
- 1Y
- 4.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EVFAX vs. EVLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EVFAX Eaton Vance Floating-Rate Advantage Fund Class Advisers | 0.05% | 4.27% | 8.00% |
EVLN Eaton Vance Floating-Rate ETF | 1.20% | 5.59% | 7.35% |
Correlation
The correlation between EVFAX and EVLN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024 | 0.33 |
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Return for Risk
EVFAX vs. EVLN — Risk / Return Rank
EVFAX
EVLN
EVFAX vs. EVLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate Advantage Fund Class Advisers (EVFAX) and Eaton Vance Floating-Rate ETF (EVLN). 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.
| EVFAX | EVLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.32 | -1.02 |
| Martin ratioReturn relative to average drawdown | 3.86 | 7.55 | -3.69 |
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Drawdowns
EVFAX vs. EVLN - Drawdown Comparison
The maximum EVFAX drawdown since its inception was -40.28%, which is greater than EVLN's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for EVFAX and EVLN.
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Drawdown Indicators
| EVFAX | EVLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.28% | -2.78% | -37.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -1.77% | -0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -3.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.24% | — | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.39% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -0.21% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.54% | +0.24% |
Volatility
EVFAX vs. EVLN - Volatility Comparison
Eaton Vance Floating-Rate Advantage Fund Class Advisers (EVFAX) has a higher volatility of 0.70% compared to Eaton Vance Floating-Rate ETF (EVLN) at 0.48%. This indicates that EVFAX's price experiences larger fluctuations and is considered to be riskier than EVLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVFAX | EVLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.48% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 1.65% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 1.89% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 2.41% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 2.41% | +2.01% |
EVFAX vs. EVLN - Expense Ratio Comparison
EVFAX has a 0.94% expense ratio, which is higher than EVLN's 0.60% expense ratio.
Dividends
EVFAX vs. EVLN - Dividend Comparison
EVFAX's dividend yield for the trailing twelve months is around 7.40%, more than EVLN's 6.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVFAX Eaton Vance Floating-Rate Advantage Fund Class Advisers | 7.40% | 7.84% | 8.66% | 6.84% | 5.66% | 3.18% | 4.29% | 5.34% | 4.86% | 4.22% | 4.78% | 5.03% |
EVLN Eaton Vance Floating-Rate ETF | 6.93% | 7.28% | 6.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EVFAX and EVLN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVFAX has higher volatility (0.70%) compared to EVLN (0.48%). In terms of maximum drawdown, EVFAX dropped -40.28% vs EVLN's -2.78%.
EVLN currently has the higher Sharpe Ratio (2.18 vs 1.19), 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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