EVGOX vs. EHSTX

Last updated Aug 5, 2026

EVGOX (Eaton Vance Government Opportunities Fund) and EHSTX (Eaton Vance Large-Cap Value Fund) are both mutual funds - EVGOX is a Government Bonds fund managed by Eaton Vance, while EHSTX is a Large Cap Value Equities fund managed by Eaton Vance. Over the past 10 years, EVGOX returned 1.44%/yr vs 11.24%/yr for EHSTX. Their 0.02 correlation means their historical movements had little consistent relationship. EVGOX charges 1.05%/yr vs 1.01%/yr for EHSTX.

Performance

EVGOX vs. EHSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Government Opportunities Fund (EVGOX) and Eaton Vance Large-Cap Value Fund (EHSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVGOX achieves a -0.86% return, which is significantly lower than EHSTX's 18.83% return. Over the past 10 years, EVGOX has underperformed EHSTX with an annualized return of 1.44%, while EHSTX has yielded a comparatively higher 11.24% annualized return.

EVGOX

• 1D: 0.19%
• 1M: -1.51%
• 6M: -1.14%
• YTD: -0.86%
• 1Y: 1.59%
• 3Y*: 4.42%
• 5Y*: 1.19%
• 10Y*: 1.44%
• ALL TIME*: 3.91%

EHSTX

• 1D: 0.67%
• 1M: 3.87%
• 6M: 12.04%
• YTD: 18.83%
• 1Y: 28.59%
• 3Y*: 15.38%
• 5Y*: 10.78%
• 10Y*: 11.24%
• ALL TIME*: 8.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EHSTX Eaton Vance Large-Cap Value Fund	$0.00	$0.00	$0.00
EVGOX Eaton Vance Government Opportunities Fund	$0.00	$0.00	$0.00

EVGOX vs. EHSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVGOX Eaton Vance Government Opportunities Fund	-0.86%	10.50%	0.07%	4.56%	-6.57%	-1.20%	4.59%	2.43%	0.72%	1.30%
EHSTX Eaton Vance Large-Cap Value Fund	18.83%	12.11%	11.25%	7.93%	-2.80%	24.25%	2.29%	30.84%	-6.96%	14.79%

Correlation

The correlation between EVGOX and EHSTX is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.10
Correlation (5Y) Shows whether the relationship held over a longer period.	0.10
Correlation (10Y) Provides a long-term view across more market conditions.	0.02
Correlation (All Time) Calculated using the full available price history since Aug 24, 1984	0.02

Over the past year, EVGOX and EHSTX have become more correlated (0.23) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

EVGOX vs. EHSTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EVGOX

EVGOX Risk / Return Rank: 8
EVGOX Sharpe Ratio Rank: 8
EVGOX Sortino Ratio Rank: 8
EVGOX Omega Ratio Rank: 8
EVGOX Calmar Ratio Rank: 10
EVGOX Martin Ratio Rank: 9

EHSTX

EHSTX Risk / Return Rank: 92
EHSTX Sharpe Ratio Rank: 95
EHSTX Sortino Ratio Rank: 93
EHSTX Omega Ratio Rank: 89
EHSTX Calmar Ratio Rank: 90
EHSTX Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EVGOX vs. EHSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Government Opportunities Fund (EVGOX) and Eaton Vance Large-Cap Value Fund (EHSTX). 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.

	EVGOX	EHSTX	Difference
Sharpe ratio: Return per unit of total volatility	0.39	2.59	-2.20
Sortino ratio: Return per unit of downside risk	0.57	3.60	-3.03
Omega ratio: Gain probability vs. loss probability	1.07	1.46	-0.39
Calmar ratio: Return relative to maximum drawdown	0.54	3.60	-3.06
Martin ratio: Return relative to average drawdown	1.34	15.04	-13.70

EVGOX vs. EHSTX - Sharpe Ratio Comparison

The current EVGOX Sharpe Ratio is 0.39, which is lower than the EHSTX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of EVGOX and EHSTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EVGOX vs. EHSTX - Drawdown Comparison

The maximum EVGOX drawdown since its inception was -23.97%, smaller than the maximum EHSTX drawdown of -53.47%. Use the drawdown chart below to compare losses from any high point for EVGOX and EHSTX.

Drawdown Indicators

	EVGOX	EHSTX	Difference
Max Drawdown Largest peak-to-trough decline	-23.97%	-53.47%	+29.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-8.29%	+4.97%
Max Drawdown (3Y) Largest decline over 3 years	-6.74%	-16.44%	+9.70%
Max Drawdown (5Y) Largest decline over 5 years	-11.06%	-16.44%	+5.38%
Max Drawdown (10Y) Largest decline over 10 years	-11.44%	-39.30%	+27.86%
Current Drawdown Current decline from peak	-2.80%	0.00%	-2.80%
Average Drawdown Average peak-to-trough decline	-3.42%	-7.38%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	1.98%	-0.65%

Volatility

EVGOX vs. EHSTX - Volatility Comparison

The current volatility for Eaton Vance Government Opportunities Fund (EVGOX) is 1.42%, while Eaton Vance Large-Cap Value Fund (EHSTX) has a volatility of 2.72%. This indicates that EVGOX experiences smaller price fluctuations and is considered to be less risky than EHSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVGOX	EHSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	2.72%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	8.84%	-5.03%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	11.53%	-6.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.41%	14.72%	-9.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.08%	17.26%	-13.18%

EVGOX vs. EHSTX - Expense Ratio Comparison

EVGOX has a 1.05% expense ratio, which is higher than EHSTX's 1.01% expense ratio.

Dividends

EVGOX vs. EHSTX - Dividend Comparison

EVGOX's dividend yield for the trailing twelve months is around 5.10%, which matches EHSTX's 5.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EHSTX Eaton Vance Large-Cap Value Fund	5.09%	6.12%	4.03%	2.93%	4.25%	7.32%	1.94%	2.76%	10.94%	5.88%	1.33%	11.02%
EVGOX Eaton Vance Government Opportunities Fund	5.10%	5.38%	5.24%	4.58%	2.75%	1.77%	2.19%	3.24%	3.34%	3.54%	3.30%	3.81%

Frequently Asked Questions

Can I hold both EVGOX and EHSTX in my portfolio?

EVGOX and EHSTX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVGOX or EHSTX?

EHSTX has higher volatility (2.72%) compared to EVGOX (1.42%). In terms of maximum drawdown, EVGOX dropped -23.97% vs EHSTX's -53.47%.

Which has better risk-adjusted returns?

EHSTX currently has the higher Sharpe Ratio (2.59 vs 0.39), 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.