EVT vs. OIEJX

Last updated Jul 17, 2026

EVT (Eaton Vance Tax-Advantaged Dividend Income Fund) and OIEJX (JPMorgan Equity Income Fund R6) are both mutual funds - EVT is a Dividend fund managed by Eaton Vance, while OIEJX is a Large Cap Value Equities fund actively managed by JPMorgan. Over the past 10 years, EVT returned 11.01%/yr vs 12.51%/yr for OIEJX. A 0.73 correlation means they provide meaningful diversification when combined. EVT charges 0.01%/yr vs 0.45%/yr for OIEJX.

Performance

EVT vs. OIEJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) and JPMorgan Equity Income Fund R6 (OIEJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVT achieves a 12.44% return, which is significantly lower than OIEJX's 15.51% return. Over the past 10 years, EVT has underperformed OIEJX with an annualized return of 11.01%, while OIEJX has yielded a comparatively higher 12.51% annualized return.

EVT

• 1D: -0.37%
• 1M: 2.11%
• 6M: 9.80%
• YTD: 12.44%
• 1Y: 22.23%
• 3Y*: 14.38%
• 5Y*: 7.98%
• 10Y*: 11.01%

OIEJX

• 1D: 0.53%
• 1M: 2.09%
• 6M: 11.68%
• YTD: 15.51%
• 1Y: 24.25%
• 3Y*: 18.63%
• 5Y*: 12.21%
• 10Y*: 12.51%

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

EVT vs. OIEJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVT Eaton Vance Tax-Advantaged Dividend Income Fund	12.44%	13.79%	17.34%	5.78%	-17.33%	33.94%	1.72%	44.71%	-11.92%	21.80%
OIEJX JPMorgan Equity Income Fund R6	15.51%	14.95%	19.97%	5.05%	-1.63%	25.41%	3.87%	26.61%	-4.23%	17.85%

Correlation

The correlation between EVT and OIEJX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 31, 2012	0.73

The correlation between EVT and OIEJX shifts across timeframes, from 0.65 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EVT vs. OIEJX — Risk / Return Rank

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

EVT

EVT Risk / Return Rank: 63
EVT Sharpe Ratio Rank: 64
EVT Sortino Ratio Rank: 64
EVT Omega Ratio Rank: 60
EVT Calmar Ratio Rank: 60
EVT Martin Ratio Rank: 67

OIEJX

OIEJX Risk / Return Rank: 87
OIEJX Sharpe Ratio Rank: 88
OIEJX Sortino Ratio Rank: 86
OIEJX Omega Ratio Rank: 83
OIEJX Calmar Ratio Rank: 89
OIEJX Martin Ratio Rank: 90

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.

EVT vs. OIEJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) and JPMorgan Equity Income Fund R6 (OIEJX). 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	OIEJX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.39	-0.60
Sortino ratio: Return per unit of downside risk	2.53	3.40	-0.87
Omega ratio: Gain probability vs. loss probability	1.32	1.43	-0.11
Calmar ratio: Return relative to maximum drawdown	2.42	3.54	-1.12
Martin ratio: Return relative to average drawdown	10.05	13.62	-3.57

EVT vs. OIEJX - Sharpe Ratio Comparison

The current EVT Sharpe Ratio is 1.79, which is comparable to the OIEJX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of EVT and OIEJX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EVT vs. OIEJX - Drawdown Comparison

The maximum EVT drawdown since its inception was -74.01%, which is greater than OIEJX's maximum drawdown of -36.88%. Use the drawdown chart below to compare losses from any high point for EVT and OIEJX.

Drawdown Indicators

	EVT	OIEJX	Difference
Max Drawdown Largest peak-to-trough decline	-74.01%	-36.88%	-37.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-7.08%	-2.14%
Max Drawdown (3Y) Largest decline over 3 years	-19.09%	-14.16%	-4.93%
Max Drawdown (5Y) Largest decline over 5 years	-28.23%	-14.74%	-13.49%
Max Drawdown (10Y) Largest decline over 10 years	-52.03%	-36.88%	-15.15%
Current Drawdown Current decline from peak	-1.93%	-0.07%	-1.86%
Average Drawdown Average peak-to-trough decline	-11.08%	-2.99%	-8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	1.84%	+0.38%

Volatility

EVT vs. OIEJX - Volatility Comparison

Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) has a higher volatility of 3.79% compared to JPMorgan Equity Income Fund R6 (OIEJX) at 2.67%. This indicates that EVT's price experiences larger fluctuations and is considered to be riskier than OIEJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVT	OIEJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	2.67%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	7.97%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.47%	10.59%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	14.28%	+2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.61%	16.74%	+3.87%

EVT vs. OIEJX - Expense Ratio Comparison

EVT has a 0.01% expense ratio, which is lower than OIEJX's 0.45% expense ratio.

Dividends

EVT vs. OIEJX - Dividend Comparison

EVT's dividend yield for the trailing twelve months is around 7.29%, less than OIEJX's 9.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVT Eaton Vance Tax-Advantaged Dividend Income Fund	7.29%	7.84%	8.02%	8.03%	8.44%	5.65%	7.97%	6.82%	9.16%	6.85%	8.47%	7.49%
OIEJX JPMorgan Equity Income Fund R6	9.60%	11.06%	14.67%	3.01%	3.93%	3.57%	2.04%	3.01%	5.37%	2.70%	2.71%	3.03%

Frequently Asked Questions

Can I hold both EVT and OIEJX in my portfolio?

EVT and OIEJX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVT or OIEJX?

EVT has higher volatility (3.79%) compared to OIEJX (2.67%). In terms of maximum drawdown, EVT dropped -74.01% vs OIEJX's -36.88%.

Which has better risk-adjusted returns?

OIEJX currently has the higher Sharpe Ratio (2.39 vs 1.79), 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.