EVSM vs. CA
Compare and contrast key facts about Eaton Vance Short Duration Municipal Income ETF (EVSM) and Xtrackers California Municipal Bond ETF (CA).
EVSM and CA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVSM is a passively managed fund by Eaton Vance that tracks the performance of the ICE BofA 1-3 Year Municipal Securities Index. It was launched on Dec 19, 2018. CA is a passively managed fund by Xtrackers that tracks the performance of the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. It was launched on Dec 13, 2023. Both EVSM and CA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EVSM vs. CA - Performance Comparison
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EVSM vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 0.34% | 4.24% | 2.52% |
CA Xtrackers California Municipal Bond ETF | -0.08% | 3.05% | 1.76% |
Returns By Period
In the year-to-date period, EVSM achieves a 0.34% return, which is significantly higher than CA's -0.08% return.
EVSM
- 1D
- 0.09%
- 1M
- -0.86%
- YTD
- 0.34%
- 6M
- 0.98%
- 1Y
- 3.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CA
- 1D
- 0.38%
- 1M
- -2.00%
- YTD
- -0.08%
- 6M
- 1.22%
- 1Y
- 3.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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EVSM vs. CA - Expense Ratio Comparison
EVSM has a 0.19% expense ratio, which is higher than CA's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
EVSM vs. CA — Risk / Return Rank
EVSM
CA
EVSM vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) and Xtrackers California Municipal Bond ETF (CA). 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 | CA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.87 | 0.89 | +0.99 |
Sortino ratioReturn per unit of downside risk | 2.34 | 1.17 | +1.17 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.21 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.17 | +1.42 |
Martin ratioReturn relative to average drawdown | 10.20 | 3.35 | +6.85 |
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 | CA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 0.89 | +0.99 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.79 | 0.57 | +1.23 |
Correlation
The correlation between EVSM and CA is 0.39, 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
EVSM vs. CA - Dividend Comparison
EVSM's dividend yield for the trailing twelve months is around 3.02%, less than CA's 3.20% yield.
| TTM | 2025 | 2024 | |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 3.02% | 3.12% | 2.99% |
CA Xtrackers California Municipal Bond ETF | 3.20% | 3.14% | 3.03% |
Drawdowns
EVSM vs. CA - Drawdown Comparison
The maximum EVSM drawdown since its inception was -1.50%, smaller than the maximum CA drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for EVSM and CA.
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Drawdown Indicators
| EVSM | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.50% | -5.24% | +3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -3.67% | +2.17% |
Current DrawdownCurrent decline from peak | -0.86% | -2.00% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -1.30% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 1.28% | -0.90% |
Volatility
EVSM vs. CA - Volatility Comparison
The current volatility for Eaton Vance Short Duration Municipal Income ETF (EVSM) is 0.50%, while Xtrackers California Municipal Bond ETF (CA) has a volatility of 1.31%. This indicates that EVSM experiences smaller price fluctuations and is considered to be less risky than CA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVSM | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 1.31% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 0.90% | 1.78% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 4.40% | -2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 4.09% | -2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.98% | 4.09% | -2.11% |