EVT vs. ETY
EVT (Eaton Vance Tax-Advantaged Dividend Income Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EVT is a Dividend fund managed by Eaton Vance, while ETY is a Derivative Income fund actively managed by Eaton Vance. Over the past 10 years, EVT returned 11.45%/yr vs 12.23%/yr for ETY. Their 0.70 correlation means they have sometimes moved together and sometimes differently. EVT charges 0.01%/yr vs 1.06%/yr for ETY.
Performance
EVT vs. ETY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EVT achieves a 16.80% return, which is significantly higher than ETY's -1.59% return. Over the past 10 years, EVT has underperformed ETY with an annualized return of 11.45%, while ETY has yielded a comparatively higher 12.23% annualized return.
EVT
- 1D
- 0.25%
- 1M
- 2.05%
- 6M
- 12.48%
- YTD
- 16.80%
- 1Y
- 28.90%
- 3Y*
- 15.22%
- 5Y*
- 8.74%
- 10Y*
- 11.45%
- ALL TIME*
- 9.46%
ETY
- 1D
- 1.27%
- 1M
- -0.56%
- 6M
- -1.83%
- YTD
- -1.59%
- 1Y
- 0.54%
- 3Y*
- 13.80%
- 5Y*
- 8.69%
- 10Y*
- 12.23%
- ALL TIME*
- 8.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.58M | $3.53M | $3.55M | |
| $2.52M | $2.55M | $2.72M |
EVT vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVT Eaton Vance Tax-Advantaged Dividend Income Fund | 16.80% | 13.79% | 17.34% | 5.78% | -17.33% | 33.94% | 1.72% | 44.71% | -11.92% | 21.80% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -1.59% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between EVT and ETY is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006 | 0.70 |
The correlation between EVT and ETY has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.
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
EVT vs. ETY — Risk / Return Rank
EVT
ETY
EVT vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). 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.
| EVT | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.20 | ||
| Sortino ratioReturn per unit of downside risk | +2.97 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.00 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | -0.05 | +2.99 |
| Martin ratioReturn relative to average drawdown | 12.36 | -0.17 | +12.53 |
Loading charts...
Drawdowns
EVT vs. ETY - Drawdown Comparison
The maximum EVT drawdown since its inception was -74.01%, which is greater than ETY's maximum drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EVT and ETY.
Loading charts...
Drawdown Indicators
| EVT | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.01% | -53.06% | -20.95% |
Max Drawdown (1Y)Largest decline over 1 year | -9.22% | -14.40% | +5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -18.68% | -21.28% | +2.60% |
Max Drawdown (5Y)Largest decline over 5 years | -28.23% | -24.06% | -4.17% |
Max Drawdown (10Y)Largest decline over 10 years | -52.03% | -42.46% | -9.57% |
Current DrawdownCurrent decline from peak | 0.00% | -3.76% | +3.76% |
Average DrawdownAverage peak-to-trough decline | -11.06% | -7.56% | -3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 4.12% | -1.92% |
Volatility
EVT vs. ETY - Volatility Comparison
The current volatility for Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) is 3.15%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 3.61%. This indicates that EVT experiences smaller price fluctuations and is considered to be less risky than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EVT | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 3.61% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 9.94% | 11.33% | -1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.66% | 13.82% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 17.98% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 19.91% | +0.70% |
EVT vs. ETY - Expense Ratio Comparison
EVT has a 0.01% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
EVT vs. ETY - Dividend Comparison
EVT's dividend yield for the trailing twelve months is around 7.02%, less than ETY's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.27% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
EVT Eaton Vance Tax-Advantaged Dividend Income Fund | 7.02% | 7.84% | 8.02% | 8.03% | 8.44% | 5.65% | 7.97% | 6.82% | 9.16% | 6.85% | 8.47% | 7.49% |
Frequently Asked Questions
EVT and ETY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (3.61%) compared to EVT (3.15%). In terms of maximum drawdown, EVT dropped -74.01% vs ETY's -53.06%.
EVT currently has the higher Sharpe Ratio (2.15 vs -0.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for EVT and ETY
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