EVMO vs. EVIM

Last updated Jun 4, 2026

EVMO (Eaton Vance Mortgage Opportunities ETF) and EVIM (Eaton Vance Intermediate Municipal Income ETF) are both exchange-traded funds - EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance, while EVIM is a Municipal Bonds fund actively managed by Eaton Vance. Both are actively managed. At a 0.47 correlation, their price movements are largely independent. EVMO charges 0.45%/yr vs 0.29%/yr for EVIM.

Performance

EVMO vs. EVIM - Performance Comparison

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

Returns By Period

In the year-to-date period, EVMO achieves a 0.73% return, which is significantly lower than EVIM's 1.40% return.

EVMO

• 1D: -0.25%
• 1M: 0.14%
• YTD: 0.73%
• 6M: 0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVIM

• 1D: 0.15%
• 1M: 0.72%
• YTD: 1.40%
• 6M: 1.93%
• 1Y: 8.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVMO vs. EVIM - Yearly Performance Comparison

	2026 (YTD)	2025
EVMO Eaton Vance Mortgage Opportunities ETF	0.73%	3.33%
EVIM Eaton Vance Intermediate Municipal Income ETF	1.40%	4.87%

Correlation

The correlation between EVMO and EVIM is 0.47, 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 Aug 5, 2025	0.47

Return for Risk

EVMO vs. EVIM — Risk / Return Rank

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

EVIM

EVIM Risk / Return Rank: 76
EVIM Sharpe Ratio Rank: 87
EVIM Sortino Ratio Rank: 91
EVIM Omega Ratio Rank: 94
EVIM Calmar Ratio Rank: 55
EVIM Martin Ratio Rank: 51

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.

EVMO vs. EVIM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) and Eaton Vance Intermediate Municipal Income ETF (EVIM). 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.

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

Sharpe Ratios by Period

	EVMO	EVIM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.76	1.58	+0.18

Drawdowns

EVMO vs. EVIM - Drawdown Comparison

The maximum EVMO drawdown since its inception was -1.89%, smaller than the maximum EVIM drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for EVMO and EVIM.

Drawdown Indicators

	EVMO	EVIM	Difference
Max Drawdown Largest peak-to-trough decline	-1.89%	-4.23%	+2.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.05%	—
Current Drawdown Current decline from peak	-0.91%	-0.99%	+0.08%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.88%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.94%	—

Volatility

Volatility by Period

	EVMO	EVIM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.83%	2.81%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.83%	3.86%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.83%	3.86%	-1.03%

EVMO vs. EVIM - Expense Ratio Comparison

EVMO has a 0.45% expense ratio, which is higher than EVIM's 0.29% expense ratio.

Dividends

EVMO vs. EVIM - Dividend Comparison

EVMO's dividend yield for the trailing twelve months is around 4.07%, more than EVIM's 3.55% yield.

Position	TTM	2025	2024	2023
EVIM Eaton Vance Intermediate Municipal Income ETF	3.55%	3.58%	3.56%	0.78%
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVMO and EVIM in my portfolio?

EVMO and EVIM have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVMO or EVIM?

On fees, EVIM is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVMO or EVIM?

EVIM is cheaper with a 0.29% expense ratio, compared with 0.45% for EVMO.

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

EVMO has the higher dividend yield at 4.07%, compared with 3.55% for EVIM.

What is the main difference between EVMO and EVIM?

EVMO is categorized as Mortgage Backed Securities, while EVIM is Municipal Bonds. Their fees differ too: 0.45% for EVMO and 0.29% for EVIM.