EVMO vs. XOP
EVMO (Eaton Vance Mortgage Opportunities ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. EVMO is actively managed, while XOP is passively managed. Their -0.29 correlation means they have often moved in opposite directions in the past. EVMO charges 0.45%/yr vs 0.35%/yr for XOP.
Performance
EVMO vs. XOP - Performance Comparison
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Returns By Period
In the year-to-date period, EVMO achieves a 0.65% return, which is significantly lower than XOP's 41.76% return.
EVMO
- 1D
- -0.29%
- 1M
- -0.53%
- 6M
- 0.19%
- YTD
- 0.65%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
XOP
- 1D
- 1.45%
- 1M
- 14.72%
- 6M
- 27.63%
- YTD
- 41.76%
- 1Y
- 46.74%
- 3Y*
- 10.13%
- 5Y*
- 19.29%
- 10Y*
- 5.00%
- ALL TIME*
- 2.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.64M | $3.32M | $3.09M | |
| $553.31M | $544.38M | $598.08M |
EVMO vs. XOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 0.65% | 3.37% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 41.76% | 3.52% |
Correlation
The correlation between EVMO and XOP is -0.29, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025 | -0.29 |
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Return for Risk
EVMO vs. XOP — Risk / Return Rank
EVMO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XOP
EVMO vs. XOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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 | XOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.24 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.26 | — |
| Martin ratioReturn relative to average drawdown | — | 5.48 | — |
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Drawdowns
EVMO vs. XOP - Drawdown Comparison
The maximum EVMO drawdown since its inception was -1.89%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for EVMO and XOP.
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Drawdown Indicators
| EVMO | XOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.89% | -90.27% | +88.38% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.50% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.98% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.61% | — |
Current DrawdownCurrent decline from peak | -0.99% | -33.74% | +32.75% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -42.56% | +42.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.67% | — |
Volatility
EVMO vs. XOP - Volatility Comparison
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Volatility by Period
| EVMO | XOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.28% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 22.52% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 28.49% | -25.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.90% | 33.53% | -30.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.90% | 40.15% | -37.25% |
EVMO vs. XOP - Expense Ratio Comparison
EVMO has a 0.45% expense ratio, which is higher than XOP's 0.35% expense ratio.
Dividends
EVMO vs. XOP - Dividend Comparison
EVMO's dividend yield for the trailing twelve months is around 4.99%, more than XOP's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 4.99% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 1.83% | 2.62% | 2.45% | 2.63% | 2.47% | 1.61% | 2.34% | 1.47% | 0.99% | 0.76% | 0.76% | 2.21% |
Frequently Asked Questions
EVMO and XOP have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XOP is cheaper with a 0.35% expense ratio, compared with 0.45% for EVMO.
EVMO has the higher dividend yield at 4.99%, compared with 1.83% for XOP.
EVMO is categorized as Mortgage Backed Securities, while XOP is Energy Equities. They also come from different issuers: Eaton Vance and State Street. Their fees differ too: 0.45% for EVMO and 0.35% for XOP.
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