EVHY vs. ECHIX

Last updated Apr 1, 2026

Compare and contrast key facts about Eaton Vance High Yield ETF (EVHY) and Eaton Vance High Income Opportunities Fund (ECHIX).

EVHY is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023. ECHIX is managed by Eaton Vance. It was launched on Jun 8, 1994.

Performance

EVHY vs. ECHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance High Yield ETF (EVHY) and Eaton Vance High Income Opportunities Fund (ECHIX). The values are adjusted to include any dividend payments, if applicable.

EVHY vs. ECHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVHY Eaton Vance High Yield ETF	-0.49%	9.14%	6.39%	8.90%
ECHIX Eaton Vance High Income Opportunities Fund	-1.69%	7.33%	6.12%	7.62%

Returns By Period

In the year-to-date period, EVHY achieves a -0.49% return, which is significantly higher than ECHIX's -1.69% return.

EVHY

• 1D: 1.03%
• 1M: -1.04%
• YTD: -0.49%
• 6M: 1.36%
• 1Y: 6.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ECHIX

• 1D: 0.24%
• 1M: -2.34%
• YTD: -1.69%
• 6M: -0.34%
• 1Y: 5.08%
• 3Y*: 5.86%
• 5Y*: 3.55%
• 10Y*: 5.48%

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

EVHY vs. ECHIX - Expense Ratio Comparison

EVHY has a 0.48% expense ratio, which is lower than ECHIX's 1.65% expense ratio.

ECHIX

Eaton Vance High Income Opportunities Fund

EVHY

Eaton Vance High Yield ETF

Return for Risk

EVHY vs. ECHIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EVHY

EVHY Risk / Return Rank: 82
EVHY Sharpe Ratio Rank: 78
EVHY Sortino Ratio Rank: 83
EVHY Omega Ratio Rank: 84
EVHY Calmar Ratio Rank: 78
EVHY Martin Ratio Rank: 88

ECHIX

ECHIX Risk / Return Rank: 84
ECHIX Sharpe Ratio Rank: 84
ECHIX Sortino Ratio Rank: 86
ECHIX Omega Ratio Rank: 89
ECHIX Calmar Ratio Rank: 79
ECHIX Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVHY vs. ECHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) and Eaton Vance High Income Opportunities Fund (ECHIX). 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.

	EVHY	ECHIX	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.59	-0.14
Sortino ratio Return per unit of downside risk	2.19	2.28	-0.09
Omega ratio Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio Return relative to maximum drawdown	2.11	1.86	+0.25
Martin ratio Return relative to average drawdown	11.03	8.49	+2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVHY vs. ECHIX - Sharpe Ratio Comparison

The current EVHY Sharpe Ratio is 1.44, which is comparable to the ECHIX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of EVHY and ECHIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVHY	ECHIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.59	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	0.81	+1.36

Correlation

The correlation between EVHY and ECHIX is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EVHY vs. ECHIX - Dividend Comparison

EVHY's dividend yield for the trailing twelve months is around 7.37%, more than ECHIX's 5.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVHY Eaton Vance High Yield ETF	7.37%	7.39%	7.66%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ECHIX Eaton Vance High Income Opportunities Fund	5.05%	5.37%	4.96%	4.11%	4.71%	4.18%	4.61%	13.45%	4.91%	4.51%	4.76%	5.51%

Drawdowns

EVHY vs. ECHIX - Drawdown Comparison

The maximum EVHY drawdown since its inception was -3.71%, smaller than the maximum ECHIX drawdown of -43.51%. Use the drawdown chart below to compare losses from any high point for EVHY and ECHIX.

Drawdown Indicators

	EVHY	ECHIX	Difference
Max Drawdown Largest peak-to-trough decline	-3.71%	-43.51%	+39.80%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-2.86%	-0.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-12.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.88%	—
Current Drawdown Current decline from peak	-1.34%	-2.34%	+1.00%
Average Drawdown Average peak-to-trough decline	-0.38%	-4.55%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.63%	+0.02%

Volatility

EVHY vs. ECHIX - Volatility Comparison

Eaton Vance High Yield ETF (EVHY) has a higher volatility of 1.97% compared to Eaton Vance High Income Opportunities Fund (ECHIX) at 1.35%. This indicates that EVHY's price experiences larger fluctuations and is considered to be riskier than ECHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVHY	ECHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	1.35%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	2.15%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	4.86%	3.54%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	4.90%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	6.38%	-1.79%