EVIFX vs. ETY
EVIFX (Eaton Vance Balanced Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EVIFX is a Diversified Portfolio fund managed by Eaton Vance, while ETY is a Derivative Income fund actively managed by Eaton Vance. Over the past 10 years, EVIFX returned 9.09%/yr vs 12.23%/yr for ETY. Their 0.72 correlation means they have sometimes moved together and sometimes differently. EVIFX charges 0.97%/yr vs 1.06%/yr for ETY.
Performance
EVIFX vs. ETY - Performance Comparison
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Returns By Period
In the year-to-date period, EVIFX achieves a 2.97% return, which is significantly higher than ETY's -1.59% return. Over the past 10 years, EVIFX has underperformed ETY with an annualized return of 9.09%, while ETY has yielded a comparatively higher 12.23% annualized return.
EVIFX
- 1D
- 1.52%
- 1M
- -0.31%
- 6M
- 2.48%
- YTD
- 2.97%
- 1Y
- 7.52%
- 3Y*
- 12.62%
- 5Y*
- 6.64%
- 10Y*
- 9.09%
- ALL TIME*
- 6.73%
ETY
- 1D
- 1.27%
- 1M
- -0.56%
- 6M
- -1.83%
- YTD
- -1.59%
- 1Y
- 0.54%
- 3Y*
- 13.80%
- 5Y*
- 8.69%
- 10Y*
- 12.23%
- ALL TIME*
- 8.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.58M | $3.53M | $3.55M | |
| $0.00 | $0.00 | $0.00 |
EVIFX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVIFX Eaton Vance Balanced Fund | 2.97% | 11.01% | 19.05% | 16.05% | -15.61% | 13.97% | 14.22% | 26.25% | -3.42% | 13.53% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -1.59% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between EVIFX and ETY is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006 | 0.72 |
The correlation between EVIFX and ETY has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
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Return for Risk
EVIFX vs. ETY — Risk / Return Rank
EVIFX
ETY
EVIFX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Balanced Fund (EVIFX) 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.
| EVIFX | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.00 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | -0.05 | +0.99 |
| Martin ratioReturn relative to average drawdown | 4.03 | -0.17 | +4.20 |
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Drawdowns
EVIFX vs. ETY - Drawdown Comparison
The maximum EVIFX drawdown since its inception was -42.70%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EVIFX and ETY.
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Drawdown Indicators
| EVIFX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.70% | -53.06% | +10.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.26% | -14.40% | +7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -11.79% | -21.28% | +9.49% |
Max Drawdown (5Y)Largest decline over 5 years | -24.94% | -24.06% | -0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -24.94% | -42.46% | +17.52% |
Current DrawdownCurrent decline from peak | -1.32% | -3.76% | +2.44% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -7.56% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.70% | 4.12% | -2.42% |
Volatility
EVIFX vs. ETY - Volatility Comparison
The current volatility for Eaton Vance Balanced Fund (EVIFX) is 2.78%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 3.61%. This indicates that EVIFX 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.
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Volatility by Period
| EVIFX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 3.61% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.29% | 11.33% | -4.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.09% | 13.82% | -4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.18% | 17.98% | -5.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.69% | 19.91% | -8.22% |
EVIFX vs. ETY - Expense Ratio Comparison
EVIFX has a 0.97% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
EVIFX vs. ETY - Dividend Comparison
EVIFX's dividend yield for the trailing twelve months is around 5.00%, less than ETY's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.27% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
EVIFX Eaton Vance Balanced Fund | 5.00% | 5.13% | 5.48% | 2.01% | 5.77% | 8.22% | 2.71% | 5.84% | 6.50% | 4.68% | 1.84% | 6.07% |
Frequently Asked Questions
EVIFX and ETY have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (3.61%) compared to EVIFX (2.78%). In terms of maximum drawdown, EVIFX dropped -42.70% vs ETY's -53.06%.
EVIFX currently has the higher Sharpe Ratio (0.76 vs -0.05), 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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