EVMBX vs. DNYMX
EVMBX (Eaton Vance AMT-Free Municipal Income Fund) and DNYMX (DFA NY Municipal Bond Portfolio) are both Municipal Bonds funds. Over the past 10 years, EVMBX returned 2.11%/yr vs 1.33%/yr for DNYMX. At a 0.41 correlation, their price movements are largely independent. EVMBX charges 0.54%/yr vs 0.25%/yr for DNYMX.
Performance
EVMBX vs. DNYMX - Performance Comparison
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Returns By Period
In the year-to-date period, EVMBX achieves a 1.82% return, which is significantly higher than DNYMX's 1.18% return. Over the past 10 years, EVMBX has outperformed DNYMX with an annualized return of 2.11%, while DNYMX has yielded a comparatively lower 1.33% annualized return.
EVMBX
- 1D
- 0.00%
- 1M
- 1.63%
- YTD
- 1.82%
- 6M
- 2.29%
- 1Y
- 6.72%
- 3Y*
- 3.97%
- 5Y*
- 0.56%
- 10Y*
- 2.11%
DNYMX
- 1D
- 0.10%
- 1M
- 0.40%
- YTD
- 1.18%
- 6M
- 1.28%
- 1Y
- 2.89%
- 3Y*
- 2.85%
- 5Y*
- 1.63%
- 10Y*
- 1.33%
EVMBX vs. DNYMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVMBX Eaton Vance AMT-Free Municipal Income Fund | 1.82% | 3.63% | 2.15% | 7.47% | -11.74% | 2.13% | 5.35% | 8.47% | 1.43% | 5.15% |
DNYMX DFA NY Municipal Bond Portfolio | 1.18% | 2.69% | 2.87% | 2.76% | -1.17% | -0.10% | 1.26% | 2.42% | 1.02% | 1.74% |
Correlation
The correlation between EVMBX and DNYMX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.41 |
Over the past year, the correlation between EVMBX and DNYMX has dropped to 0.21 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
EVMBX vs. DNYMX — Risk / Return Rank
EVMBX
DNYMX
EVMBX vs. DNYMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance AMT-Free Municipal Income Fund (EVMBX) and DFA NY Municipal Bond Portfolio (DNYMX). 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.
| EVMBX | DNYMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -6.42 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 4.18 | -2.54 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 12.55 | -9.85 |
| Martin ratioReturn relative to average drawdown | 8.80 | 56.40 | -47.60 |
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Drawdowns
EVMBX vs. DNYMX - Drawdown Comparison
The maximum EVMBX drawdown since its inception was -36.09%, which is greater than DNYMX's maximum drawdown of -3.19%. Use the drawdown chart below to compare losses from any high point for EVMBX and DNYMX.
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Drawdown Indicators
| EVMBX | DNYMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.09% | -3.19% | -32.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -0.24% | -2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -7.52% | -0.98% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -16.73% | -2.53% | -14.20% |
Max Drawdown (10Y)Largest decline over 10 years | -16.73% | -3.19% | -13.54% |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -0.41% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.05% | +0.72% |
Volatility
EVMBX vs. DNYMX - Volatility Comparison
Eaton Vance AMT-Free Municipal Income Fund (EVMBX) has a higher volatility of 0.76% compared to DFA NY Municipal Bond Portfolio (DNYMX) at 0.20%. This indicates that EVMBX's price experiences larger fluctuations and is considered to be riskier than DNYMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVMBX | DNYMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.20% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 0.48% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.83% | 0.65% | +2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 0.88% | +3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 1.05% | +3.57% |
EVMBX vs. DNYMX - Expense Ratio Comparison
EVMBX has a 0.54% expense ratio, which is higher than DNYMX's 0.25% expense ratio.
Dividends
EVMBX vs. DNYMX - Dividend Comparison
EVMBX's dividend yield for the trailing twelve months is around 4.02%, more than DNYMX's 2.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DNYMX DFA NY Municipal Bond Portfolio | 2.65% | 2.36% | 2.73% | 1.92% | 0.70% | 0.59% | 1.06% | 1.31% | 1.21% | 1.04% | 1.08% | 0.00% |
EVMBX Eaton Vance AMT-Free Municipal Income Fund | 4.02% | 5.01% | 4.52% | 3.69% | 3.31% | 2.79% | 3.20% | 4.24% | 3.98% | 4.10% | 4.14% | 4.23% |
Frequently Asked Questions
EVMBX and DNYMX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVMBX has higher volatility (0.76%) compared to DNYMX (0.20%). In terms of maximum drawdown, EVMBX dropped -36.09% vs DNYMX's -3.19%.
DNYMX currently has the higher Sharpe Ratio (4.63 vs 2.39), 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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