EVIM vs. AMUN

Last updated Jun 23, 2026

EVIM (Eaton Vance Intermediate Municipal Income ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. EVIM charges 0.29%/yr vs 0.25%/yr for AMUN.

Performance

EVIM vs. AMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Intermediate Municipal Income ETF (EVIM) and abrdn Ultra Short Municipal Income Active ETF (AMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVIM achieves a 1.80% return, which is significantly higher than AMUN's 1.21% return.

EVIM

• 1D: 0.00%
• 1M: 1.51%
• YTD: 1.80%
• 6M: 2.05%
• 1Y: 7.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMUN

• 1D: 0.00%
• 1M: 0.26%
• YTD: 1.21%
• 6M: 1.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVIM vs. AMUN - Yearly Performance Comparison

	2026 (YTD)	2025
EVIM Eaton Vance Intermediate Municipal Income ETF	1.80%	0.92%
AMUN abrdn Ultra Short Municipal Income Active ETF	1.21%	0.14%

Correlation

The correlation between EVIM and AMUN is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025	0.23

Return for Risk

EVIM vs. AMUN — Risk / Return Rank

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

EVIM

EVIM Risk / Return Rank: 74
EVIM Sharpe Ratio Rank: 86
EVIM Sortino Ratio Rank: 91
EVIM Omega Ratio Rank: 94
EVIM Calmar Ratio Rank: 51
EVIM Martin Ratio Rank: 48

AMUN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EVIM vs. AMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Intermediate Municipal Income ETF (EVIM) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.

	EVIM	AMUN	Difference
Sharpe ratio: Return per unit of total volatility	2.70	—	—
Sortino ratio: Return per unit of downside risk	4.06	—	—
Omega ratio: Gain probability vs. loss probability	1.64	—	—
Calmar ratio: Return relative to maximum drawdown	2.45	—	—
Martin ratio: Return relative to average drawdown	7.78	—	—

Drawdowns

EVIM vs. AMUN - Drawdown Comparison

The maximum EVIM drawdown since its inception was -4.23%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for EVIM and AMUN.

Drawdown Indicators

	EVIM	AMUN	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-0.61%	-3.62%
Max Drawdown (1Y) Largest decline over 1 year	-3.05%	—	—
Current Drawdown Current decline from peak	-0.59%	0.00%	-0.59%
Average Drawdown Average peak-to-trough decline	-0.88%	-0.08%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	—	—

Volatility

Volatility by Period

	EVIM	AMUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	0.98%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.83%	0.98%	+2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.83%	0.98%	+2.85%

EVIM vs. AMUN - Expense Ratio Comparison

EVIM has a 0.29% expense ratio, which is higher than AMUN's 0.25% expense ratio.

Dividends

EVIM vs. AMUN - Dividend Comparison

EVIM's dividend yield for the trailing twelve months is around 3.53%, more than AMUN's 1.88% yield.

Position	TTM	2025	2024	2023
AMUN abrdn Ultra Short Municipal Income Active ETF	1.88%	0.66%	0.00%	0.00%
EVIM Eaton Vance Intermediate Municipal Income ETF	3.53%	3.58%	3.56%	0.78%

Frequently Asked Questions

Can I hold both EVIM and AMUN in my portfolio?

EVIM and AMUN have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVIM or AMUN?

On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVIM or AMUN?

AMUN is cheaper with a 0.25% expense ratio, compared with 0.29% for EVIM.

Which ETF pays a higher dividend yield, EVIM or AMUN?

EVIM has the higher dividend yield at 3.53%, compared with 1.88% for AMUN.

What is the main difference between EVIM and AMUN?

They also come from different issuers: Eaton Vance and abrdn. Their fees differ too: 0.29% for EVIM and 0.25% for AMUN.