EVHY vs. XAGG

Last updated Jun 5, 2026

EVHY (Eaton Vance High Yield ETF) and XAGG (Eaton Vance Income Opportunities ETF) are both exchange-traded funds - EVHY is a High Yield Bonds fund actively managed by Eaton Vance, while XAGG is a Multisector Bonds fund actively managed by Eaton Vance. Both are actively managed. A 0.64 correlation means they provide meaningful diversification when combined. EVHY charges 0.48%/yr vs 0.50%/yr for XAGG.

Performance

EVHY vs. XAGG - Performance Comparison

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

Returns By Period

In the year-to-date period, EVHY achieves a 1.24% return, which is significantly lower than XAGG's 2.05% return.

EVHY

• 1D: 0.15%
• 1M: 0.53%
• YTD: 1.24%
• 6M: 1.74%
• 1Y: 6.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XAGG

• 1D: 0.12%
• 1M: 0.42%
• YTD: 2.05%
• 6M: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVHY vs. XAGG - Yearly Performance Comparison

	2026 (YTD)	2025
EVHY Eaton Vance High Yield ETF	1.24%	1.33%
XAGG Eaton Vance Income Opportunities ETF	2.05%	1.61%

Correlation

The correlation between EVHY and XAGG is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 11, 2025	0.64

Return for Risk

EVHY vs. XAGG — Risk / Return Rank

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

EVHY

EVHY Risk / Return Rank: 62
EVHY Sharpe Ratio Rank: 58
EVHY Sortino Ratio Rank: 64
EVHY Omega Ratio Rank: 64
EVHY Calmar Ratio Rank: 53
EVHY Martin Ratio Rank: 69

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. XAGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) and Eaton Vance Income Opportunities ETF (XAGG). 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	XAGG	Difference
Sharpe ratio: Return per unit of total volatility	1.94	—	—
Sortino ratio: Return per unit of downside risk	2.94	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.60	—	—
Martin ratio: Return relative to average drawdown	12.58	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EVHY	XAGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.20	1.94	+0.26

Drawdowns

EVHY vs. XAGG - Drawdown Comparison

The maximum EVHY drawdown since its inception was -3.71%, which is greater than XAGG's maximum drawdown of -2.88%. Use the drawdown chart below to compare losses from any high point for EVHY and XAGG.

Drawdown Indicators

	EVHY	XAGG	Difference
Max Drawdown Largest peak-to-trough decline	-3.71%	-2.88%	-0.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.37%	+0.29%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.57%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	—	—

Volatility

Volatility by Period

	EVHY	XAGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.37%	3.47%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.52%	3.47%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.52%	3.47%	+1.05%

EVHY vs. XAGG - Expense Ratio Comparison

EVHY has a 0.48% expense ratio, which is lower than XAGG's 0.50% expense ratio.

Dividends

EVHY vs. XAGG - Dividend Comparison

EVHY's dividend yield for the trailing twelve months is around 7.20%, more than XAGG's 3.86% yield.

Position	TTM	2025	2024	2023
EVHY Eaton Vance High Yield ETF	7.20%	7.39%	7.66%	1.44%
XAGG Eaton Vance Income Opportunities ETF	3.86%	1.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVHY and XAGG in my portfolio?

EVHY and XAGG have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVHY or XAGG?

On fees, EVHY is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVHY or XAGG?

EVHY is cheaper with a 0.48% expense ratio, compared with 0.50% for XAGG.

Which ETF pays a higher dividend yield, EVHY or XAGG?

EVHY has the higher dividend yield at 7.20%, compared with 3.86% for XAGG.

What is the main difference between EVHY and XAGG?

EVHY is categorized as High Yield Bonds, while XAGG is Multisector Bonds. Their fees differ too: 0.48% for EVHY and 0.50% for XAGG.