EVMO vs. EVSM

Last updated Apr 2, 2026

Compare and contrast key facts about Eaton Vance Mortgage Opportunities ETF (EVMO) and Eaton Vance Short Duration Municipal Income ETF (EVSM).

EVMO and EVSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVMO is an actively managed fund by Eaton Vance. It was launched on Aug 4, 2025. EVSM is a passively managed fund by Eaton Vance that tracks the performance of the ICE BofA 1-3 Year Municipal Securities Index. It was launched on Dec 19, 2018.

Performance

EVMO vs. EVSM - Performance Comparison

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

EVMO vs. EVSM - Yearly Performance Comparison

	2026 (YTD)	2025
EVMO Eaton Vance Mortgage Opportunities ETF	0.38%	3.33%
EVSM Eaton Vance Short Duration Municipal Income ETF	0.42%	1.54%

Returns By Period

In the year-to-date period, EVMO achieves a 0.38% return, which is significantly lower than EVSM's 0.42% return.

EVMO

• 1D: 0.00%
• 1M: -1.11%
• YTD: 0.38%
• 6M: 2.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVSM

• 1D: 0.08%
• 1M: -0.64%
• YTD: 0.42%
• 6M: 1.05%
• 1Y: 3.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVMO vs. EVSM - Expense Ratio Comparison

EVMO has a 0.45% expense ratio, which is higher than EVSM's 0.19% expense ratio.

EVMO

Eaton Vance Mortgage Opportunities ETF

EVSM

Eaton Vance Short Duration Municipal Income ETF

Return for Risk

EVMO vs. EVSM — Risk / Return Rank

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

EVSM

EVSM Risk / Return Rank: 85
EVSM Sharpe Ratio Rank: 85
EVSM Sortino Ratio Rank: 82
EVSM Omega Ratio Rank: 94
EVSM Calmar Ratio Rank: 81
EVSM Martin Ratio Rank: 81

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. EVSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) and Eaton Vance Short Duration Municipal Income ETF (EVSM). 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	EVSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.06	1.81	+0.24

Correlation

The correlation between EVMO and EVSM is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EVMO vs. EVSM - Dividend Comparison

EVMO's dividend yield for the trailing twelve months is around 3.17%, more than EVSM's 3.02% yield.

	TTM	2025	2024
EVMO Eaton Vance Mortgage Opportunities ETF	3.17%	1.95%	0.00%
EVSM Eaton Vance Short Duration Municipal Income ETF	3.02%	3.12%	2.99%

Drawdowns

EVMO vs. EVSM - Drawdown Comparison

The maximum EVMO drawdown since its inception was -1.89%, which is greater than EVSM's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for EVMO and EVSM.

Drawdown Indicators

	EVMO	EVSM	Difference
Max Drawdown Largest peak-to-trough decline	-1.89%	-1.50%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.50%	—
Current Drawdown Current decline from peak	-1.26%	-0.78%	-0.48%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.22%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.38%	—

Volatility

Volatility by Period

	EVMO	EVSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	2.03%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	1.98%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.78%	1.98%	+0.80%