EVTR vs. EVSM

Last updated Apr 1, 2026

Compare and contrast key facts about Eaton Vance Total Return Bond ETF (EVTR) and Eaton Vance Short Duration Municipal Income ETF (EVSM).

EVTR and EVSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVTR is an actively managed fund by Eaton Vance. It was launched on Nov 14, 1984. 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.

Performance

EVTR vs. EVSM - 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 Short Duration Municipal Income ETF (EVSM). The values are adjusted to include any dividend payments, if applicable.

EVTR vs. EVSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVTR Eaton Vance Total Return Bond ETF	-0.31%	8.10%	4.07%
EVSM Eaton Vance Short Duration Municipal Income ETF	0.34%	4.24%	2.52%

Returns By Period

In the year-to-date period, EVTR achieves a -0.31% return, which is significantly lower than EVSM's 0.34% return.

EVTR

• 1D: 0.28%
• 1M: -2.03%
• YTD: -0.31%
• 6M: 0.96%
• 1Y: 4.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVSM

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

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

EVTR vs. EVSM - Expense Ratio Comparison

EVTR has a 0.32% expense ratio, which is higher than EVSM's 0.19% expense ratio.

EVTR

Eaton Vance Total Return Bond ETF

EVSM

Eaton Vance Short Duration Municipal Income ETF

Return for Risk

EVTR vs. EVSM — Risk / Return Rank

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

EVTR

EVTR Risk / Return Rank: 69
EVTR Sharpe Ratio Rank: 73
EVTR Sortino Ratio Rank: 73
EVTR Omega Ratio Rank: 64
EVTR Calmar Ratio Rank: 72
EVTR Martin Ratio Rank: 64

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

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. EVSM - 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 Short Duration Municipal Income ETF (EVSM). 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.

	EVTR	EVSM	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.87	-0.60
Sortino ratio Return per unit of downside risk	1.79	2.34	-0.55
Omega ratio Gain probability vs. loss probability	1.23	1.47	-0.25
Calmar ratio Return relative to maximum drawdown	1.79	2.59	-0.80
Martin ratio Return relative to average drawdown	6.21	10.20	-3.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVTR vs. EVSM - Sharpe Ratio Comparison

The current EVTR Sharpe Ratio is 1.27, which is lower than the EVSM Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of EVTR and EVSM, 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

	EVTR	EVSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.87	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	1.79	-0.42

Correlation

The correlation between EVTR and EVSM is 0.47, 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

EVTR vs. EVSM - Dividend Comparison

EVTR's dividend yield for the trailing twelve months is around 4.63%, more than EVSM's 3.02% yield.

	TTM	2025	2024
EVTR Eaton Vance Total Return Bond ETF	4.63%	4.51%	4.26%
EVSM Eaton Vance Short Duration Municipal Income ETF	3.02%	3.12%	2.99%

Drawdowns

EVTR vs. EVSM - Drawdown Comparison

The maximum EVTR drawdown since its inception was -4.08%, which is greater than EVSM's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for EVTR and EVSM.

Drawdown Indicators

	EVTR	EVSM	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-1.50%	-2.58%
Max Drawdown (1Y) Largest decline over 1 year	-2.85%	-1.50%	-1.35%
Current Drawdown Current decline from peak	-2.03%	-0.86%	-1.17%
Average Drawdown Average peak-to-trough decline	-0.92%	-0.22%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	0.38%	+0.44%

Volatility

EVTR vs. EVSM - Volatility Comparison

Eaton Vance Total Return Bond ETF (EVTR) has a higher volatility of 1.66% compared to Eaton Vance Short Duration Municipal Income ETF (EVSM) at 0.50%. This indicates that EVTR's price experiences larger fluctuations and is considered to be riskier than EVSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVTR	EVSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	0.50%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	2.42%	0.90%	+1.52%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	2.03%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	1.98%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.31%	1.98%	+2.33%