EVMO vs. LMBS
EVMO (Eaton Vance Mortgage Opportunities ETF) and LMBS (First Trust Low Duration Mortgage Opportunities ETF) are both Mortgage Backed Securities funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. EVMO charges 0.45%/yr vs 0.68%/yr for LMBS.
Performance
EVMO vs. LMBS - Performance Comparison
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Returns By Period
In the year-to-date period, EVMO achieves a 0.83% return, which is significantly lower than LMBS's 1.30% return.
EVMO
- 1D
- 0.10%
- 1M
- 0.18%
- YTD
- 0.83%
- 6M
- 1.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LMBS
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 1.30%
- 6M
- 1.63%
- 1Y
- 5.89%
- 3Y*
- 5.74%
- 5Y*
- 3.04%
- 10Y*
- 2.73%
EVMO vs. LMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 0.83% | 3.33% |
LMBS First Trust Low Duration Mortgage Opportunities ETF | 1.30% | 2.90% |
Correlation
The correlation between EVMO and LMBS is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025 | 0.60 |
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Return for Risk
EVMO vs. LMBS — Risk / Return Rank
EVMO
LMBS
EVMO vs. LMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) and First Trust Low Duration Mortgage Opportunities ETF (LMBS). 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.
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Sharpe Ratios by Period
| EVMO | LMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.02 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.79 | 1.13 | +0.66 |
Drawdowns
EVMO vs. LMBS - Drawdown Comparison
The maximum EVMO drawdown since its inception was -1.89%, smaller than the maximum LMBS drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for EVMO and LMBS.
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Drawdown Indicators
| EVMO | LMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.89% | -6.49% | +4.60% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.43% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.49% | — |
Current DrawdownCurrent decline from peak | -0.81% | -0.28% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -0.39% | -0.80% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.33% | — |
Volatility
EVMO vs. LMBS - Volatility Comparison
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Volatility by Period
| EVMO | LMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.68% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.45% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 1.97% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.82% | 2.56% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.82% | 2.36% | +0.46% |
EVMO vs. LMBS - Expense Ratio Comparison
EVMO has a 0.45% expense ratio, which is lower than LMBS's 0.68% expense ratio.
Dividends
EVMO vs. LMBS - Dividend Comparison
EVMO's dividend yield for the trailing twelve months is around 4.07%, which matches LMBS's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 4.07% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LMBS First Trust Low Duration Mortgage Opportunities ETF | 4.10% | 4.08% | 4.28% | 3.96% | 2.22% | 2.04% | 2.27% | 2.55% | 2.76% | 2.73% | 2.84% | 3.03% |
Frequently Asked Questions
EVMO and LMBS have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EVMO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EVMO is cheaper with a 0.45% expense ratio, compared with 0.68% for LMBS.
LMBS has the higher dividend yield at 4.10%, compared with 4.07% for EVMO.
They also come from different issuers: Eaton Vance and First Trust. Their fees differ too: 0.45% for EVMO and 0.68% for LMBS.
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