EVTR vs. EVMO

Last updated Jun 26, 2026

EVTR (Eaton Vance Total Return Bond ETF) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both exchange-traded funds - EVTR is a Intermediate Core-Plus Bond fund actively managed by Eaton Vance, while EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. EVTR charges 0.32%/yr vs 0.45%/yr for EVMO.

Performance

EVTR vs. EVMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Total Return Bond ETF (EVTR) and Eaton Vance Mortgage Opportunities ETF (EVMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVTR achieves a 1.07% return, which is significantly lower than EVMO's 1.22% return.

EVTR

• 1D: 0.06%
• 1M: 0.98%
• YTD: 1.07%
• 6M: 1.03%
• 1Y: 5.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVMO

• 1D: 0.12%
• 1M: 0.56%
• YTD: 1.22%
• 6M: 1.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVTR vs. EVMO - Yearly Performance Comparison

	2026 (YTD)	2025
EVTR Eaton Vance Total Return Bond ETF	1.07%	2.97%
EVMO Eaton Vance Mortgage Opportunities ETF	1.22%	3.37%

Correlation

The correlation between EVTR and EVMO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025	0.62

Return for Risk

EVTR vs. EVMO — Risk / Return Rank

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

EVTR

EVTR Risk / Return Rank: 42
EVTR Sharpe Ratio Rank: 45
EVTR Sortino Ratio Rank: 46
EVTR Omega Ratio Rank: 42
EVTR Calmar Ratio Rank: 40
EVTR Martin Ratio Rank: 39

EVMO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EVTR vs. EVMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Total Return Bond ETF (EVTR) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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.

	EVTR	EVMO	Difference
Sharpe ratio: Return per unit of total volatility	1.39	—	—
Sortino ratio: Return per unit of downside risk	2.06	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	1.80	—	—
Martin ratio: Return relative to average drawdown	5.40	—	—

Drawdowns

EVTR vs. EVMO - Drawdown Comparison

The maximum EVTR drawdown since its inception was -4.08%, which is greater than EVMO's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for EVTR and EVMO.

Drawdown Indicators

	EVTR	EVMO	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-1.89%	-2.19%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	—	—
Current Drawdown Current decline from peak	-0.68%	-0.43%	-0.25%
Average Drawdown Average peak-to-trough decline	-0.97%	-0.42%	-0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	EVTR	EVMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	2.88%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.32%	2.88%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	2.88%	+1.44%

EVTR vs. EVMO - Expense Ratio Comparison

EVTR has a 0.32% expense ratio, which is lower than EVMO's 0.45% expense ratio.

Dividends

EVTR vs. EVMO - Dividend Comparison

EVTR's dividend yield for the trailing twelve months is around 4.64%, more than EVMO's 4.05% yield.

Position	TTM	2025	2024
EVMO Eaton Vance Mortgage Opportunities ETF	4.05%	1.95%	0.00%
EVTR Eaton Vance Total Return Bond ETF	4.64%	4.51%	4.26%

Frequently Asked Questions

Can I hold both EVTR and EVMO in my portfolio?

EVTR and EVMO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVTR or EVMO?

On fees, EVTR is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVTR or EVMO?

EVTR is cheaper with a 0.32% expense ratio, compared with 0.45% for EVMO.

Which ETF pays a higher dividend yield, EVTR or EVMO?

EVTR has the higher dividend yield at 4.64%, compared with 4.05% for EVMO.

What is the main difference between EVTR and EVMO?

EVTR is categorized as Intermediate Core-Plus Bond, while EVMO is Mortgage Backed Securities. Their fees differ too: 0.32% for EVTR and 0.45% for EVMO.