EVN vs. PMO
EVN (Eaton Vance Municipal Income Trust) and PMO (Putnam Municipal Opportunities Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, EVN returned 1.51%/yr vs 2.26%/yr for PMO. Their 0.34 correlation means their historical movements had little consistent relationship.
Performance
EVN vs. PMO - Performance Comparison
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Returns By Period
In the year-to-date period, EVN achieves a -0.40% return, which is significantly higher than PMO's -1.61% return. Over the past 10 years, EVN has underperformed PMO with an annualized return of 1.51%, while PMO has yielded a comparatively higher 2.26% annualized return.
EVN
- 1D
- -0.58%
- 1M
- -6.81%
- 6M
- -0.86%
- YTD
- -0.40%
- 1Y
- 4.48%
- 3Y*
- 7.27%
- 5Y*
- -1.19%
- 10Y*
- 1.51%
- ALL TIME*
- 4.62%
PMO
- 1D
- 0.10%
- 1M
- -4.09%
- 6M
- -1.75%
- YTD
- -1.61%
- 1Y
- 9.27%
- 3Y*
- 4.78%
- 5Y*
- -2.23%
- 10Y*
- 2.26%
- ALL TIME*
- 4.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $961.94K | $793.78K | $837.03K | |
| $672.73K | $658.41K | $646.85K |
EVN vs. PMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVN Eaton Vance Municipal Income Trust | -0.40% | 12.83% | 8.88% | 4.35% | -25.01% | 7.63% | 9.66% | 18.04% | -3.81% | 4.08% |
PMO Putnam Municipal Opportunities Trust | -1.61% | 10.45% | 3.15% | -1.31% | -20.32% | 10.08% | 9.38% | 23.13% | -4.05% | 8.89% |
Correlation
The correlation between EVN and PMO is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 1999 | 0.34 |
The correlation between EVN and PMO shifts across timeframes, from 0.34 (all time) to 0.51 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
EVN:
$413.83M
PMO:
$280.46M
EVN:
$0.89
PMO:
$1.47
EVN:
11.67
PMO:
6.98
EVN:
207.66
PMO:
0.05
EVN:
8.30
PMO:
10.14
EVN:
0.96
PMO:
0.90
EVN:
$49.72M
PMO:
$27.64M
EVN:
$48.68M
PMO:
$24.85M
EVN:
$79.85M
PMO:
$41.22M
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Return for Risk
EVN vs. PMO — Risk / Return Rank
EVN
PMO
EVN vs. PMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Municipal Income Trust (EVN) and Putnam Municipal Opportunities Trust (PMO). 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.
| EVN | PMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.21 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 1.37 | -0.75 |
| Martin ratioReturn relative to average drawdown | 1.95 | 4.25 | -2.31 |
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Drawdowns
EVN vs. PMO - Drawdown Comparison
The maximum EVN drawdown since its inception was -56.87%, which is greater than PMO's maximum drawdown of -36.46%. Use the drawdown chart below to compare losses from any high point for EVN and PMO.
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Drawdown Indicators
| EVN | PMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.87% | -36.46% | -20.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -7.19% | -1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -10.79% | -13.72% | +2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -32.84% | -36.46% | +3.62% |
Max Drawdown (10Y)Largest decline over 10 years | -32.84% | -36.46% | +3.62% |
Current DrawdownCurrent decline from peak | -7.48% | -14.71% | +7.23% |
Average DrawdownAverage peak-to-trough decline | -9.40% | -7.96% | -1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 2.31% | +0.41% |
Volatility
EVN vs. PMO - Volatility Comparison
Eaton Vance Municipal Income Trust (EVN) has a higher volatility of 2.65% compared to Putnam Municipal Opportunities Trust (PMO) at 2.44%. This indicates that EVN's price experiences larger fluctuations and is considered to be riskier than PMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVN | PMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 2.44% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 7.20% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.96% | 9.26% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.95% | 15.09% | -3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.86% | 14.25% | -1.39% |
Dividends
EVN vs. PMO - Dividend Comparison
EVN's dividend yield for the trailing twelve months is around 5.93%, more than PMO's 4.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVN Eaton Vance Municipal Income Trust | 5.93% | 5.72% | 5.78% | 4.80% | 5.60% | 4.14% | 4.20% | 4.46% | 5.50% | 5.37% | 6.06% | 6.46% |
PMO Putnam Municipal Opportunities Trust | 4.86% | 4.25% | 4.15% | 4.64% | 5.87% | 4.42% | 4.65% | 4.85% | 5.55% | 5.26% | 5.89% | 5.81% |
Financials
EVN vs. PMO - Financials Comparison
This section allows you to compare key financial metrics between Eaton Vance Municipal Income Trust and Putnam Municipal Opportunities Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
EVN vs. PMO - Profitability Comparison
EVN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Eaton Vance Municipal Income Trust reported a gross profit of 14.04M and revenue of 16.10M. Therefore, the gross margin over that period was 87.2%.
PMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Putnam Municipal Opportunities Trust reported a gross profit of 8.52M and revenue of 9.73M. Therefore, the gross margin over that period was 87.5%.
EVN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Eaton Vance Municipal Income Trust reported an operating income of 12.59M and revenue of 16.10M, resulting in an operating margin of 78.2%.
PMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Putnam Municipal Opportunities Trust reported an operating income of 7.68M and revenue of 9.73M, resulting in an operating margin of 78.9%.
EVN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Eaton Vance Municipal Income Trust reported a net income of 9.60M and revenue of 16.10M, resulting in a net margin of 59.6%.
PMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Putnam Municipal Opportunities Trust reported a net income of 7.39M and revenue of 9.73M, resulting in a net margin of 75.9%.
Frequently Asked Questions
EVN and PMO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVN has higher volatility (2.65%) compared to PMO (2.44%). In terms of maximum drawdown, EVN dropped -56.87% vs PMO's -36.46%.
PMO currently has the higher Sharpe Ratio (1.07 vs 0.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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