EVGOX vs. ETY
EVGOX (Eaton Vance Government Opportunities Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EVGOX is a Government Bonds fund managed by Eaton Vance, while ETY is a Large Cap Growth Equities fund actively managed by Eaton Vance. Over the past 10 years, EVGOX returned 1.61%/yr vs 12.63%/yr for ETY. At a correlation of -0.06, they often move in opposite directions. EVGOX charges 1.05%/yr vs 1.06%/yr for ETY.
Performance
EVGOX vs. ETY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EVGOX achieves a 0.39% return, which is significantly higher than ETY's -5.11% return. Over the past 10 years, EVGOX has underperformed ETY with an annualized return of 1.61%, while ETY has yielded a comparatively higher 12.63% annualized return.
EVGOX
- 1D
- 0.57%
- 1M
- 0.85%
- YTD
- 0.39%
- 6M
- 0.85%
- 1Y
- 4.79%
- 3Y*
- 4.79%
- 5Y*
- 1.41%
- 10Y*
- 1.61%
ETY
- 1D
- -1.20%
- 1M
- -5.53%
- YTD
- -5.11%
- 6M
- -4.80%
- 1Y
- -1.17%
- 3Y*
- 14.03%
- 5Y*
- 8.51%
- 10Y*
- 12.63%
EVGOX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVGOX Eaton Vance Government Opportunities Fund | 0.39% | 10.50% | 0.07% | 4.56% | -6.57% | -1.20% | 4.59% | 2.43% | 0.72% | 1.30% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -5.11% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between EVGOX and ETY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006 | -0.06 |
The correlation between EVGOX and ETY shifts across timeframes, from -0.06 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EVGOX vs. ETY — Risk / Return Rank
EVGOX
ETY
EVGOX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Government Opportunities Fund (EVGOX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). 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 | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.00 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | -0.08 | +1.59 |
| Martin ratioReturn relative to average drawdown | 4.33 | -0.30 | +4.63 |
Loading charts...
Drawdowns
EVGOX vs. ETY - Drawdown Comparison
The maximum EVGOX drawdown since its inception was -23.97%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EVGOX and ETY.
Loading charts...
Drawdown Indicators
| EVGOX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.97% | -53.06% | +29.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -14.40% | +11.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.74% | -21.28% | +14.54% |
Max Drawdown (5Y)Largest decline over 5 years | -11.06% | -24.06% | +13.00% |
Max Drawdown (10Y)Largest decline over 10 years | -11.44% | -42.46% | +31.02% |
Current DrawdownCurrent decline from peak | -1.57% | -7.20% | +5.63% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -7.58% | +4.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 3.89% | -2.74% |
Volatility
EVGOX vs. ETY - Volatility Comparison
The current volatility for Eaton Vance Government Opportunities Fund (EVGOX) is 1.64%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 4.20%. This indicates that EVGOX experiences smaller price fluctuations and is considered to be less risky than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EVGOX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 4.20% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 10.84% | -7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 13.40% | -8.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 17.95% | -12.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.06% | 19.91% | -15.85% |
EVGOX vs. ETY - Expense Ratio Comparison
EVGOX has a 1.05% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
EVGOX vs. ETY - Dividend Comparison
EVGOX's dividend yield for the trailing twelve months is around 5.48%, less than ETY's 8.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.52% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
EVGOX Eaton Vance Government Opportunities Fund | 5.48% | 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
EVGOX and ETY have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (4.20%) compared to EVGOX (1.64%). In terms of maximum drawdown, EVGOX dropped -23.97% vs ETY's -53.06%.
EVGOX currently has the higher Sharpe Ratio (1.06 vs -0.09), 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.
Find the right allocation for EVGOX and ETY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer