EVSM vs. XAGG
EVSM (Eaton Vance Short Duration Municipal Income ETF) and XAGG (Eaton Vance Income Opportunities ETF) are both exchange-traded funds - EVSM is a Municipal Bonds fund tracking the ICE BofA 1-3 Year Municipal Securities Index, while XAGG is a Multisector Bonds fund actively managed by Eaton Vance. EVSM is passively managed, while XAGG is actively managed. Their 0.40 correlation means their historical movements had little consistent relationship. EVSM charges 0.19%/yr vs 0.50%/yr for XAGG.
Performance
EVSM vs. XAGG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EVSM achieves a 1.05% return, which is significantly lower than XAGG's 2.19% return.
EVSM
- 1D
- 0.00%
- 1M
- -0.33%
- 6M
- 0.43%
- YTD
- 1.05%
- 1Y
- 2.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.29%
XAGG
- 1D
- -0.20%
- 1M
- -0.34%
- 6M
- 0.48%
- YTD
- 2.19%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.49M | $5.32M | $5.28M | |
| $9.69M | $13.10M | $11.08M |
EVSM vs. XAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 1.05% | 0.54% |
XAGG Eaton Vance Income Opportunities ETF | 2.19% | 1.75% |
Correlation
The correlation between EVSM and XAGG is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025 | 0.40 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EVSM vs. XAGG — Risk / Return Rank
EVSM
XAGG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EVSM vs. XAGG - 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 Income Opportunities ETF (XAGG). 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 | XAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.44 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | — | — |
| Martin ratioReturn relative to average drawdown | 9.06 | — | — |
Loading charts...
Drawdowns
EVSM vs. XAGG - Drawdown Comparison
The maximum EVSM drawdown since its inception was -1.50%, smaller than the maximum XAGG drawdown of -2.88%. Use the drawdown chart below to compare losses from any high point for EVSM and XAGG.
Loading charts...
Drawdown Indicators
| EVSM | XAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.50% | -2.88% | +1.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | — | — |
Current DrawdownCurrent decline from peak | -0.41% | -0.49% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -0.53% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | — | — |
Volatility
EVSM vs. XAGG - Volatility Comparison
Loading charts...
Volatility by Period
| EVSM | XAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 3.42% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.89% | 3.42% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.89% | 3.42% | -1.53% |
EVSM vs. XAGG - Expense Ratio Comparison
EVSM has a 0.19% expense ratio, which is lower than XAGG's 0.50% expense ratio.
Dividends
EVSM vs. XAGG - Dividend Comparison
EVSM's dividend yield for the trailing twelve months is around 3.02%, less than XAGG's 5.07% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 3.02% | 3.12% | 2.99% |
XAGG Eaton Vance Income Opportunities ETF | 5.07% | 1.02% | 0.00% |
Frequently Asked Questions
EVSM and XAGG have a correlation of 0.40, 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 0.50% for XAGG.
XAGG has the higher dividend yield at 5.07%, compared with 3.02% for EVSM.
EVSM is categorized as Municipal Bonds, while XAGG is Multisector Bonds. Their fees differ too: 0.19% for EVSM and 0.50% for XAGG.
Find the right allocation for EVSM and XAGG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer