EVN vs. ETV

Last updated Apr 2, 2026

Compare and contrast key facts about Eaton Vance Municipal Income Trust (EVN) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV).

Performance

EVN vs. ETV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Municipal Income Trust (EVN) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). The values are adjusted to include any dividend payments, if applicable.

EVN vs. ETV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVN Eaton Vance Municipal Income Trust	-1.70%	12.83%	8.88%	4.35%	-25.01%	7.63%	9.66%	18.04%	-3.81%	4.08%
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	-1.81%	8.63%	27.67%	9.94%	-19.73%	18.41%	13.03%	21.25%	-4.29%	12.98%

Fundamentals

Market Cap EVN : $413.76M ETV : $1.61B
EPS EVN : $0.94 ETV : $4.95
PE Ratio EVN : 11.12 ETV : 2.79
PEG Ratio EVN : 197.95 ETV : 0.09
PS Ratio EVN : 9.41 ETV : 5.31
PB Ratio EVN : 0.96 ETV : 0.88
Total Revenue (TTM) EVN : $43.97M ETV : $303.84M
Gross Profit (TTM) EVN : $42.94M ETV : $149.51M
EBITDA (TTM) EVN : $57.66M ETV : $578.17M

Returns By Period

In the year-to-date period, EVN achieves a -1.70% return, which is significantly higher than ETV's -1.81% return. Over the past 10 years, EVN has underperformed ETV with an annualized return of 1.74%, while ETV has yielded a comparatively higher 8.51% annualized return.

EVN

• 1D: 0.19%
• 1M: -4.65%
• YTD: -1.70%
• 6M: -3.21%
• 1Y: 6.63%
• 3Y*: 6.66%
• 5Y*: -0.48%
• 10Y*: 1.74%

ETV

• 1D: 1.02%
• 1M: -5.32%
• YTD: -1.81%
• 6M: 1.04%
• 1Y: 13.72%
• 3Y*: 12.50%
• 5Y*: 6.66%
• 10Y*: 8.51%

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

Return for Risk

EVN vs. ETV — Risk / Return Rank

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

EVN

EVN Risk / Return Rank: 59
EVN Sharpe Ratio Rank: 62
EVN Sortino Ratio Rank: 53
EVN Omega Ratio Rank: 51
EVN Calmar Ratio Rank: 60
EVN Martin Ratio Rank: 69

ETV

ETV Risk / Return Rank: 65
ETV Sharpe Ratio Rank: 66
ETV Sortino Ratio Rank: 58
ETV Omega Ratio Rank: 62
ETV Calmar Ratio Rank: 63
ETV Martin Ratio Rank: 77

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.

EVN vs. ETV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Municipal Income Trust (EVN) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). 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.

	EVN	ETV	Difference
Sharpe ratio Return per unit of total volatility	0.60	0.71	-0.11
Sortino ratio Return per unit of downside risk	0.95	1.12	-0.17
Omega ratio Gain probability vs. loss probability	1.12	1.17	-0.06
Calmar ratio Return relative to maximum drawdown	0.89	1.04	-0.14
Martin ratio Return relative to average drawdown	3.50	5.24	-1.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVN vs. ETV - Sharpe Ratio Comparison

The current EVN Sharpe Ratio is 0.60, which is comparable to the ETV Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of EVN and ETV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVN	ETV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	0.71	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.40	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.44	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.41	-0.14

Correlation

The correlation between EVN and ETV is 0.18, 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

EVN vs. ETV - Dividend Comparison

EVN's dividend yield for the trailing twelve months is around 5.90%, less than ETV's 8.63% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVN Eaton Vance Municipal Income Trust	5.90%	5.72%	5.78%	4.80%	5.60%	4.14%	4.20%	4.46%	5.50%	5.37%	6.06%	6.46%
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	8.63%	8.30%	8.18%	9.24%	10.57%	7.94%	8.66%	8.89%	9.86%	8.65%	8.96%	8.69%

Drawdowns

EVN vs. ETV - Drawdown Comparison

The maximum EVN drawdown since its inception was -56.87%, which is greater than ETV's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for EVN and ETV.

Drawdown Indicators

	EVN	ETV	Difference
Max Drawdown Largest peak-to-trough decline	-56.87%	-52.11%	-4.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-13.37%	+4.78%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	-22.71%	-10.13%
Max Drawdown (10Y) Largest decline over 10 years	-32.84%	-42.39%	+9.55%
Current Drawdown Current decline from peak	-7.74%	-5.84%	-1.90%
Average Drawdown Average peak-to-trough decline	-9.46%	-5.61%	-3.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	2.65%	-0.46%

Volatility

EVN vs. ETV - Volatility Comparison

The current volatility for Eaton Vance Municipal Income Trust (EVN) is 4.68%, while Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) has a volatility of 6.71%. This indicates that EVN experiences smaller price fluctuations and is considered to be less risky than ETV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVN	ETV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	6.71%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	10.12%	-2.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	19.36%	-8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.81%	16.85%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.92%	19.32%	-6.40%

Financials