EVIM vs. SPHY
Compare and contrast key facts about Eaton Vance Intermediate Municipal Income ETF (EVIM) and SPDR Portfolio High Yield Bond ETF (SPHY).
EVIM and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVIM is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Performance
EVIM vs. SPHY - Performance Comparison
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EVIM vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EVIM Eaton Vance Intermediate Municipal Income ETF | -0.16% | 5.85% | 1.65% | 6.88% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.32% | 8.59% | 8.54% | 9.23% |
Returns By Period
In the year-to-date period, EVIM achieves a -0.16% return, which is significantly higher than SPHY's -0.32% return.
EVIM
- 1D
- 0.38%
- 1M
- -2.51%
- YTD
- -0.16%
- 6M
- 1.87%
- 1Y
- 5.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPHY
- 1D
- 1.00%
- 1M
- -1.02%
- YTD
- -0.32%
- 6M
- 0.94%
- 1Y
- 7.11%
- 3Y*
- 8.40%
- 5Y*
- 4.31%
- 10Y*
- 5.29%
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EVIM vs. SPHY - Expense Ratio Comparison
EVIM has a 0.29% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Return for Risk
EVIM vs. SPHY — Risk / Return Rank
EVIM
SPHY
EVIM vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Intermediate Municipal Income ETF (EVIM) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
| EVIM | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.40 | 1.30 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.76 | 1.92 | -0.16 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.31 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.76 | -0.08 |
Martin ratioReturn relative to average drawdown | 5.26 | 9.23 | -3.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EVIM | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.30 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.61 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.49 | 0.62 | +0.87 |
Correlation
The correlation between EVIM and SPHY is 0.45, 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
EVIM vs. SPHY - Dividend Comparison
EVIM's dividend yield for the trailing twelve months is around 3.58%, less than SPHY's 7.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVIM Eaton Vance Intermediate Municipal Income ETF | 3.58% | 3.58% | 3.56% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.39% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Drawdowns
EVIM vs. SPHY - Drawdown Comparison
The maximum EVIM drawdown since its inception was -4.23%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for EVIM and SPHY.
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Drawdown Indicators
| EVIM | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.23% | -21.97% | +17.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.54% | -4.07% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.97% | — |
Current DrawdownCurrent decline from peak | -2.51% | -1.31% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -0.82% | -2.32% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.78% | +0.35% |
Volatility
EVIM vs. SPHY - Volatility Comparison
The current volatility for Eaton Vance Intermediate Municipal Income ETF (EVIM) is 1.38%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 2.23%. This indicates that EVIM experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVIM | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 2.23% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 2.87% | -1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 5.49% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.94% | 7.15% | -3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.94% | 7.97% | -4.03% |