EVGOX vs. TRBUX
EVGOX (Eaton Vance Government Opportunities Fund) and TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) are both mutual funds - EVGOX is a Government Bonds fund managed by Eaton Vance, while TRBUX is a Ultrashort Bond fund managed by T. Rowe Price. Over the past 10 years, EVGOX returned 1.53%/yr vs 3.29%/yr for TRBUX. At a 0.32 correlation, their price movements are largely independent. EVGOX charges 1.05%/yr vs 0.31%/yr for TRBUX.
Performance
EVGOX vs. TRBUX - Performance Comparison
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Returns By Period
In the year-to-date period, EVGOX achieves a -0.37% return, which is significantly lower than TRBUX's 1.39% return. Over the past 10 years, EVGOX has underperformed TRBUX with an annualized return of 1.53%, while TRBUX has yielded a comparatively higher 3.29% annualized return.
EVGOX
- 1D
- -0.38%
- 1M
- 0.47%
- YTD
- -0.37%
- 6M
- 0.09%
- 1Y
- 4.39%
- 3Y*
- 4.53%
- 5Y*
- 1.23%
- 10Y*
- 1.53%
TRBUX
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.39%
- 6M
- 2.18%
- 1Y
- 6.22%
- 3Y*
- 6.68%
- 5Y*
- 4.28%
- 10Y*
- 3.29%
EVGOX vs. TRBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVGOX Eaton Vance Government Opportunities Fund | -0.37% | 10.50% | 0.07% | 4.56% | -6.57% | -1.20% | 4.59% | 2.43% | 0.72% | 1.30% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 1.39% | 6.88% | 7.88% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
Correlation
The correlation between EVGOX and TRBUX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.32 |
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Return for Risk
EVGOX vs. TRBUX — Risk / Return Rank
EVGOX
TRBUX
EVGOX vs. TRBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Government Opportunities Fund (EVGOX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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 | TRBUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -7.50 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 3.56 | -2.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 16.38 | -14.93 |
| Martin ratioReturn relative to average drawdown | 4.20 | 61.02 | -56.81 |
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Drawdowns
EVGOX vs. TRBUX - Drawdown Comparison
The maximum EVGOX drawdown since its inception was -23.97%, which is greater than TRBUX's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for EVGOX and TRBUX.
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Drawdown Indicators
| EVGOX | TRBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.97% | -4.15% | -19.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -0.39% | -2.93% |
Max Drawdown (3Y)Largest decline over 3 years | -6.74% | -0.78% | -5.96% |
Max Drawdown (5Y)Largest decline over 5 years | -11.06% | -2.68% | -8.38% |
Max Drawdown (10Y)Largest decline over 10 years | -11.44% | -4.15% | -7.29% |
Current DrawdownCurrent decline from peak | -2.31% | -0.20% | -2.11% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -0.21% | -3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.10% | +1.04% |
Volatility
EVGOX vs. TRBUX - Volatility Comparison
Eaton Vance Government Opportunities Fund (EVGOX) has a higher volatility of 1.54% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.58%. This indicates that EVGOX's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVGOX | TRBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 0.58% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 1.19% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 1.75% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 1.69% | +3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.06% | 1.51% | +2.55% |
EVGOX vs. TRBUX - Expense Ratio Comparison
EVGOX has a 1.05% expense ratio, which is higher than TRBUX's 0.31% expense ratio.
Dividends
EVGOX vs. TRBUX - Dividend Comparison
EVGOX's dividend yield for the trailing twelve months is around 5.52%, less than TRBUX's 6.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVGOX Eaton Vance Government Opportunities Fund | 5.52% | 5.38% | 5.24% | 4.58% | 2.75% | 1.77% | 2.19% | 3.24% | 3.34% | 3.54% | 3.30% | 3.81% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 6.04% | 6.23% | 6.36% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
Frequently Asked Questions
EVGOX and TRBUX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVGOX has higher volatility (1.54%) compared to TRBUX (0.58%). In terms of maximum drawdown, EVGOX dropped -23.97% vs TRBUX's -4.15%.
TRBUX currently has the higher Sharpe Ratio (3.69 vs 1.02), 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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