EVPF vs. EVSM

Last updated Jun 4, 2026

EVPF (Eaton Vance Preferred Securities and Income ETF) and EVSM (Eaton Vance Short Duration Municipal Income ETF) are both exchange-traded funds - EVPF is a Preferred Stock/Convertible Bonds fund actively managed by Eaton Vance, while EVSM is a Municipal Bonds fund tracking the ICE BofA 1-3 Year Municipal Securities Index. EVPF is actively managed, while EVSM is passively managed. A 0.52 correlation means they provide meaningful diversification when combined. EVPF charges 0.39%/yr vs 0.19%/yr for EVSM.

Performance

EVPF vs. EVSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Preferred Securities and Income ETF (EVPF) and Eaton Vance Short Duration Municipal Income ETF (EVSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVPF

• 1D: 0.00%
• 1M: 0.75%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVSM

• 1D: 0.06%
• 1M: 0.42%
• YTD: 1.15%
• 6M: 1.48%
• 1Y: 4.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVPF vs. EVSM - Yearly Performance Comparison

	2026 (YTD)
EVPF Eaton Vance Preferred Securities and Income ETF	1.16%
EVSM Eaton Vance Short Duration Municipal Income ETF	0.30%

Correlation

The correlation between EVPF and EVSM is 0.52, 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 Mar 6, 2026	0.52

Return for Risk

EVPF vs. EVSM — Risk / Return Rank

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

EVSM

EVSM Risk / Return Rank: 86
EVSM Sharpe Ratio Rank: 91
EVSM Sortino Ratio Rank: 95
EVSM Omega Ratio Rank: 94
EVSM Calmar Ratio Rank: 76
EVSM Martin Ratio Rank: 73

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.

EVPF vs. EVSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Preferred Securities and Income ETF (EVPF) and Eaton Vance Short Duration Municipal Income ETF (EVSM). 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.

Sharpe Ratios by Period

	EVPF	EVSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	1.89	-0.77

Drawdowns

EVPF vs. EVSM - Drawdown Comparison

The maximum EVPF drawdown since its inception was -2.36%, which is greater than EVSM's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for EVPF and EVSM.

Drawdown Indicators

	EVPF	EVSM	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-1.50%	-0.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.07%	—
Current Drawdown Current decline from peak	-0.17%	-0.06%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.52%	-0.24%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.30%	—

Volatility

Volatility by Period

	EVPF	EVSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.31%	1.27%	+3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	1.92%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.31%	1.92%	+2.39%

EVPF vs. EVSM - Expense Ratio Comparison

EVPF has a 0.39% expense ratio, which is higher than EVSM's 0.19% expense ratio.

Dividends

EVPF vs. EVSM - Dividend Comparison

EVPF's dividend yield for the trailing twelve months is around 1.08%, less than EVSM's 3.00% yield.

Position	TTM	2025	2024
EVPF Eaton Vance Preferred Securities and Income ETF	1.08%	0.00%	0.00%
EVSM Eaton Vance Short Duration Municipal Income ETF	3.00%	3.12%	2.99%

Frequently Asked Questions

Can I hold both EVPF and EVSM in my portfolio?

EVPF and EVSM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVPF or EVSM?

On fees, EVSM is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVPF or EVSM?

EVSM is cheaper with a 0.19% expense ratio, compared with 0.39% for EVPF.

Which ETF pays a higher dividend yield, EVPF or EVSM?

EVSM has the higher dividend yield at 3.00%, compared with 1.08% for EVPF.

What is the main difference between EVPF and EVSM?

EVPF is categorized as Preferred Stock/Convertible Bonds, while EVSM is Municipal Bonds. Their fees differ too: 0.39% for EVPF and 0.19% for EVSM.