EVSM vs. EVSD

Last updated Apr 1, 2026

Compare and contrast key facts about Eaton Vance Short Duration Municipal Income ETF (EVSM) and Eaton Vance Short Duration Income ETF (EVSD).

EVSM and EVSD 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. EVSD is an actively managed fund by Eaton Vance. It was launched on Mar 31, 1992.

Performance

EVSM vs. EVSD - Performance Comparison

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

EVSM vs. EVSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVSM Eaton Vance Short Duration Municipal Income ETF	0.34%	4.24%	2.16%
EVSD Eaton Vance Short Duration Income ETF	0.10%	6.80%	3.87%

Returns By Period

In the year-to-date period, EVSM achieves a 0.34% return, which is significantly higher than EVSD's 0.10% return.

EVSM

• 1D: 0.09%
• 1M: -0.86%
• YTD: 0.34%
• 6M: 0.98%
• 1Y: 3.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVSD

• 1D: 0.20%
• 1M: -0.83%
• YTD: 0.10%
• 6M: 1.42%
• 1Y: 5.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVSM vs. EVSD - Expense Ratio Comparison

EVSM has a 0.19% expense ratio, which is lower than EVSD's 0.24% 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%.

EVSD

Eaton Vance Short Duration Income ETF

EVSM

Eaton Vance Short Duration Municipal Income ETF

Return for Risk

EVSM vs. EVSD — Risk / Return Rank

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

EVSM

EVSM Risk / Return Rank: 88
EVSM Sharpe Ratio Rank: 88
EVSM Sortino Ratio Rank: 85
EVSM Omega Ratio Rank: 95
EVSM Calmar Ratio Rank: 85
EVSM Martin Ratio Rank: 85

EVSD

EVSD Risk / Return Rank: 97
EVSD Sharpe Ratio Rank: 97
EVSD Sortino Ratio Rank: 98
EVSD Omega Ratio Rank: 97
EVSD Calmar Ratio Rank: 95
EVSD Martin Ratio Rank: 96

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. EVSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) and Eaton Vance Short Duration Income ETF (EVSD). 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	EVSD	Difference
Sharpe ratio Return per unit of total volatility	1.87	2.90	-1.02
Sortino ratio Return per unit of downside risk	2.34	4.50	-2.16
Omega ratio Gain probability vs. loss probability	1.47	1.62	-0.15
Calmar ratio Return relative to maximum drawdown	2.59	3.97	-1.38
Martin ratio Return relative to average drawdown	10.20	17.90	-7.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVSM vs. EVSD - Sharpe Ratio Comparison

The current EVSM Sharpe Ratio is 1.87, which is lower than the EVSD Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of EVSM and EVSD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVSM	EVSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	2.90	-1.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	3.10	-1.30

Correlation

The correlation between EVSM and EVSD is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EVSM vs. EVSD - Dividend Comparison

EVSM's dividend yield for the trailing twelve months is around 3.02%, less than EVSD's 4.61% yield.

	TTM	2025	2024
EVSM Eaton Vance Short Duration Municipal Income ETF	3.02%	3.12%	2.99%
EVSD Eaton Vance Short Duration Income ETF	4.61%	4.64%	2.91%

Drawdowns

EVSM vs. EVSD - Drawdown Comparison

The maximum EVSM drawdown since its inception was -1.50%, which is greater than EVSD's maximum drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for EVSM and EVSD.

Drawdown Indicators

	EVSM	EVSD	Difference
Max Drawdown Largest peak-to-trough decline	-1.50%	-1.26%	-0.24%
Max Drawdown (1Y) Largest decline over 1 year	-1.50%	-1.26%	-0.24%
Current Drawdown Current decline from peak	-0.86%	-0.83%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.17%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	0.28%	+0.10%

Volatility

EVSM vs. EVSD - Volatility Comparison

The current volatility for Eaton Vance Short Duration Municipal Income ETF (EVSM) is 0.50%, while Eaton Vance Short Duration Income ETF (EVSD) has a volatility of 0.73%. This indicates that EVSM experiences smaller price fluctuations and is considered to be less risky than EVSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVSM	EVSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.50%	0.73%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	0.90%	1.03%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	2.03%	1.75%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.98%	1.97%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.98%	1.97%	+0.01%