EVMO vs. MTBA
EVMO (Eaton Vance Mortgage Opportunities ETF) and MTBA (Simplify MBS ETF) are both Mortgage Backed Securities funds. Both are actively managed. Their 0.64 correlation means they have sometimes moved together and sometimes differently. EVMO charges 0.45%/yr vs 0.15%/yr for MTBA.
Performance
EVMO vs. MTBA - Performance Comparison
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Returns By Period
In the year-to-date period, EVMO achieves a 0.65% return, which is significantly higher than MTBA's -0.64% return.
EVMO
- 1D
- -0.29%
- 1M
- -0.53%
- 6M
- 0.19%
- YTD
- 0.65%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MTBA
- 1D
- -0.31%
- 1M
- -0.83%
- 6M
- -1.11%
- YTD
- -0.64%
- 1Y
- 2.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.64M | $3.32M | $3.09M | |
MTBA Simplify MBS ETF | $6.73M | $6.03M | $8.90M |
EVMO vs. MTBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 0.65% | 3.37% |
MTBA Simplify MBS ETF | -0.64% | 3.26% |
Correlation
The correlation between EVMO and MTBA is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025 | 0.64 |
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Return for Risk
EVMO vs. MTBA — Risk / Return Rank
EVMO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MTBA
EVMO vs. MTBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) and Simplify MBS ETF (MTBA). 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.
| EVMO | MTBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.19 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.13 | — |
| Martin ratioReturn relative to average drawdown | — | 3.16 | — |
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Drawdowns
EVMO vs. MTBA - Drawdown Comparison
The maximum EVMO drawdown since its inception was -1.89%, smaller than the maximum MTBA drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for EVMO and MTBA.
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Drawdown Indicators
| EVMO | MTBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.89% | -3.48% | +1.59% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.82% | — |
Current DrawdownCurrent decline from peak | -0.99% | -2.01% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -0.83% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.01% | — |
Volatility
EVMO vs. MTBA - Volatility Comparison
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Volatility by Period
| EVMO | MTBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.84% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.71% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 3.14% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.90% | 3.92% | -1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.90% | 3.92% | -1.02% |
EVMO vs. MTBA - Expense Ratio Comparison
EVMO has a 0.45% expense ratio, which is higher than MTBA's 0.15% expense ratio.
Dividends
EVMO vs. MTBA - Dividend Comparison
EVMO's dividend yield for the trailing twelve months is around 4.99%, less than MTBA's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 4.99% | 1.95% | 0.00% | 0.00% |
MTBA Simplify MBS ETF | 6.09% | 5.98% | 6.03% | 0.48% |
Frequently Asked Questions
EVMO and MTBA have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MTBA is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MTBA is cheaper with a 0.15% expense ratio, compared with 0.45% for EVMO.
MTBA has the higher dividend yield at 6.09%, compared with 4.99% for EVMO.
They also come from different issuers: Eaton Vance and Simplify. Their fees differ too: 0.45% for EVMO and 0.15% for MTBA.
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