EVSM vs. BPH

Last updated Jun 24, 2026

EVSM (Eaton Vance Short Duration Municipal Income ETF) and BPH (BP p.l.c. ADRhedged ETF) are both exchange-traded funds - EVSM is a Municipal Bonds fund tracking the ICE BofA 1-3 Year Municipal Securities Index, while BPH is a Energy Equities fund actively managed by Precidian. EVSM is passively managed, while BPH is actively managed. At a correlation of -0.38, they often move in opposite directions. Both charge a 0.19% expense ratio.

Performance

EVSM vs. BPH - Performance Comparison

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

Returns By Period

EVSM

• 1D: 0.08%
• 1M: 0.64%
• YTD: 1.27%
• 6M: 1.41%
• 1Y: 3.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BPH

• 1D: -0.55%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVSM vs. BPH - Yearly Performance Comparison

	2026 (YTD)
EVSM Eaton Vance Short Duration Municipal Income ETF	0.64%
BPH BP p.l.c. ADRhedged ETF	-5.53%

Correlation

The correlation between EVSM and BPH is -0.38, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	-0.38

Return for Risk

EVSM vs. BPH — Risk / Return Rank

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

EVSM

EVSM Risk / Return Rank: 87
EVSM Sharpe Ratio Rank: 93
EVSM Sortino Ratio Rank: 95
EVSM Omega Ratio Rank: 95
EVSM Calmar Ratio Rank: 76
EVSM Martin Ratio Rank: 74

BPH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EVSM vs. BPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) and BP p.l.c. ADRhedged ETF (BPH). 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.

	EVSM	BPH	Difference
Sharpe ratio: Return per unit of total volatility	3.06	—	—
Sortino ratio: Return per unit of downside risk	4.80	—	—
Omega ratio: Gain probability vs. loss probability	1.64	—	—
Calmar ratio: Return relative to maximum drawdown	3.60	—	—
Martin ratio: Return relative to average drawdown	12.80	—	—

Drawdowns

EVSM vs. BPH - Drawdown Comparison

The maximum EVSM drawdown since its inception was -1.50%, smaller than the maximum BPH drawdown of -9.43%. Use the drawdown chart below to compare losses from any high point for EVSM and BPH.

Drawdown Indicators

	EVSM	BPH	Difference
Max Drawdown Largest peak-to-trough decline	-1.50%	-9.43%	+7.93%
Max Drawdown (1Y) Largest decline over 1 year	-1.07%	—	—
Current Drawdown Current decline from peak	0.00%	-8.71%	+8.71%
Average Drawdown Average peak-to-trough decline	-0.24%	-3.18%	+2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	—	—

Volatility

Volatility by Period

	EVSM	BPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.26%	24.10%	-22.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.91%	24.10%	-22.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.91%	24.10%	-22.19%

EVSM vs. BPH - Expense Ratio Comparison

Both EVSM and BPH have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EVSM vs. BPH - Dividend Comparison

EVSM's dividend yield for the trailing twelve months is around 3.00%, more than BPH's 0.53% yield.

Position	TTM	2025	2024
BPH BP p.l.c. ADRhedged ETF	0.53%	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 EVSM and BPH in my portfolio?

EVSM and BPH have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVSM or BPH?

Both ETFs have the same 0.19% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVSM or BPH?

EVSM and BPH have the same expense ratio: 0.19% per year.

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

EVSM has the higher dividend yield at 3.00%, compared with 0.53% for BPH.

What is the main difference between EVSM and BPH?

EVSM is categorized as Municipal Bonds, while BPH is Energy Equities. They also come from different issuers: Eaton Vance and Precidian.