EVSM vs. AMUN
EVSM (Eaton Vance Short Duration Municipal Income ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. EVSM is passively managed, while AMUN is actively managed. At a 0.24 correlation, their price movements are largely independent. EVSM charges 0.19%/yr vs 0.25%/yr for AMUN.
Performance
EVSM vs. AMUN - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EVSM having a 1.15% return and AMUN slightly lower at 1.11%.
EVSM
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 1.15%
- 6M
- 1.48%
- 1Y
- 4.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AMUN
- 1D
- -0.02%
- 1M
- 0.32%
- YTD
- 1.11%
- 6M
- 1.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EVSM vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 1.15% | 0.44% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.11% | 0.14% |
Correlation
The correlation between EVSM and AMUN is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.24 |
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Return for Risk
EVSM vs. AMUN — Risk / Return Rank
EVSM
AMUN
EVSM vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| EVSM | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.70 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | — | — |
| Martin ratioReturn relative to average drawdown | 13.52 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EVSM | AMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.89 | 2.05 | -0.15 |
Drawdowns
EVSM vs. AMUN - Drawdown Comparison
The maximum EVSM drawdown since its inception was -1.50%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for EVSM and AMUN.
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Drawdown Indicators
| EVSM | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.50% | -0.61% | -0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | — | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.02% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -0.09% | -0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | — | — |
Volatility
EVSM vs. AMUN - Volatility Comparison
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Volatility by Period
| EVSM | AMUN | 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 | 1.27% | 1.01% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.92% | 1.01% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 1.01% | +0.91% |
EVSM vs. AMUN - Expense Ratio Comparison
EVSM has a 0.19% expense ratio, which is lower than AMUN's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EVSM vs. AMUN - Dividend Comparison
EVSM's dividend yield for the trailing twelve months is around 3.00%, more than AMUN's 1.89% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.89% | 0.66% | 0.00% |
EVSM Eaton Vance Short Duration Municipal Income ETF | 3.00% | 3.12% | 2.99% |
Frequently Asked Questions
EVSM and AMUN have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
EVSM is cheaper with a 0.19% expense ratio, compared with 0.25% for AMUN.
EVSM has the higher dividend yield at 3.00%, compared with 1.89% for AMUN.
They also come from different issuers: Eaton Vance and abrdn. Their fees differ too: 0.19% for EVSM and 0.25% for AMUN.
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