EVHY vs. EVN
EVHY (Eaton Vance High Yield ETF) is High Yield Bonds fund actively managed by Eaton Vance, while EVN (Eaton Vance Municipal Income Trust) is a stock. Over the past year, EVHY returned 6.29% vs 13.16% for EVN. At a 0.38 correlation, their price movements are largely independent.
Performance
EVHY vs. EVN - Performance Comparison
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Returns By Period
In the year-to-date period, EVHY achieves a 1.48% return, which is significantly lower than EVN's 4.69% return.
EVHY
- 1D
- -0.12%
- 1M
- 0.68%
- YTD
- 1.48%
- 6M
- 1.75%
- 1Y
- 6.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EVN
- 1D
- -0.36%
- 1M
- 4.08%
- YTD
- 4.69%
- 6M
- 5.18%
- 1Y
- 13.16%
- 3Y*
- 9.46%
- 5Y*
- 0.05%
- 10Y*
- 2.14%
EVHY vs. EVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EVHY Eaton Vance High Yield ETF | 1.48% | 9.14% | 6.39% | 8.45% |
EVN Eaton Vance Municipal Income Trust | 4.69% | 12.83% | 8.88% | 13.51% |
Correlation
The correlation between EVHY and EVN is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | 0.38 |
The correlation between EVHY and EVN shifts across timeframes, from 0.24 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EVHY vs. EVN — Risk / Return Rank
EVHY
EVN
EVHY vs. EVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) and Eaton Vance Municipal Income Trust (EVN). 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.
| EVHY | EVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.23 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 1.54 | +0.98 |
| Martin ratioReturn relative to average drawdown | 12.14 | 5.27 | +6.87 |
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Drawdowns
EVHY vs. EVN - Drawdown Comparison
The maximum EVHY drawdown since its inception was -3.71%, smaller than the maximum EVN drawdown of -56.87%. Use the drawdown chart below to compare losses from any high point for EVHY and EVN.
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Drawdown Indicators
| EVHY | EVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -56.87% | +53.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -8.59% | +6.08% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.84% | — |
Current DrawdownCurrent decline from peak | -0.12% | -1.74% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -9.42% | +9.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 2.50% | -1.98% |
Volatility
EVHY vs. EVN - Volatility Comparison
The current volatility for Eaton Vance High Yield ETF (EVHY) is 0.91%, while Eaton Vance Municipal Income Trust (EVN) has a volatility of 3.00%. This indicates that EVHY experiences smaller price fluctuations and is considered to be less risky than EVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVHY | EVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 3.00% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 8.12% | -5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 10.87% | -7.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.52% | 11.91% | -7.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.52% | 12.93% | -8.41% |
Dividends
EVHY vs. EVN - Dividend Comparison
EVHY's dividend yield for the trailing twelve months is around 7.18%, more than EVN's 5.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVHY Eaton Vance High Yield ETF | 7.18% | 7.39% | 7.66% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EVN Eaton Vance Municipal Income Trust | 5.62% | 5.72% | 5.78% | 4.80% | 5.60% | 4.14% | 4.20% | 4.46% | 5.50% | 5.37% | 6.06% | 6.46% |
Frequently Asked Questions
EVHY and EVN have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVN has higher volatility (3.00%) compared to EVHY (0.91%). In terms of maximum drawdown, EVHY dropped -3.71% vs EVN's -56.87%.
EVHY currently has the higher Sharpe Ratio (1.85 vs 1.22), 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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