EVV vs. DHEAX
EVV (Eaton Vance Limited Duration Income Fund) and DHEAX (Diamond Hill Short Duration Securitized Bond Fund) are both Short-Term Bond funds. Over the past 5 years, EVV returned 3.22%/yr vs 4.28%/yr for DHEAX. At a 0.10 correlation, their price movements are largely independent. EVV charges 0.04%/yr vs 0.83%/yr for DHEAX.
Performance
EVV vs. DHEAX - Performance Comparison
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Returns By Period
In the year-to-date period, EVV achieves a -0.65% return, which is significantly lower than DHEAX's 2.09% return.
EVV
- 1D
- -0.11%
- 1M
- 1.74%
- 6M
- -1.48%
- YTD
- -0.65%
- 1Y
- -0.20%
- 3Y*
- 9.63%
- 5Y*
- 3.22%
- 10Y*
- 5.29%
DHEAX
- 1D
- 0.10%
- 1M
- 0.23%
- 6M
- 1.89%
- YTD
- 2.09%
- 1Y
- 4.58%
- 3Y*
- 7.26%
- 5Y*
- 4.28%
- 10Y*
- —
EVV vs. DHEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVV Eaton Vance Limited Duration Income Fund | -0.65% | 10.72% | 12.22% | 13.33% | -19.94% | 14.66% | 4.67% | 18.91% | -5.53% | 6.77% |
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 2.09% | 5.70% | 9.15% | 8.38% | -3.57% | 2.42% | 2.87% | 4.44% | 2.88% | 3.97% |
Correlation
The correlation between EVV and DHEAX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.10 |
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Return for Risk
EVV vs. DHEAX — Risk / Return Rank
EVV
DHEAX
EVV vs. DHEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Limited Duration Income Fund (EVV) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). 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.
| EVV | DHEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.22 | ||
| Sortino ratioReturn per unit of downside risk | -6.90 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 2.35 | -1.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 9.41 | -9.43 |
| Martin ratioReturn relative to average drawdown | -0.07 | 40.55 | -40.62 |
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Drawdowns
EVV vs. DHEAX - Drawdown Comparison
The maximum EVV drawdown since its inception was -51.37%, which is greater than DHEAX's maximum drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for EVV and DHEAX.
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Drawdown Indicators
| EVV | DHEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.37% | -12.34% | -39.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.65% | -0.50% | -8.15% |
Max Drawdown (3Y)Largest decline over 3 years | -9.53% | -0.50% | -9.03% |
Max Drawdown (5Y)Largest decline over 5 years | -25.91% | -5.06% | -20.85% |
Max Drawdown (10Y)Largest decline over 10 years | -40.42% | — | — |
Current DrawdownCurrent decline from peak | -2.49% | -0.00% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -6.29% | -0.79% | -5.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 0.12% | +2.74% |
Volatility
EVV vs. DHEAX - Volatility Comparison
Eaton Vance Limited Duration Income Fund (EVV) has a higher volatility of 2.08% compared to Diamond Hill Short Duration Securitized Bond Fund (DHEAX) at 0.36%. This indicates that EVV's price experiences larger fluctuations and is considered to be riskier than DHEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVV | DHEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 0.36% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 0.76% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.02% | 1.13% | +7.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.58% | 1.52% | +11.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.40% | 2.26% | +13.14% |
EVV vs. DHEAX - Expense Ratio Comparison
EVV has a 0.04% expense ratio, which is lower than DHEAX's 0.83% expense ratio.
Dividends
EVV vs. DHEAX - Dividend Comparison
EVV's dividend yield for the trailing twelve months is around 9.31%, more than DHEAX's 5.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 5.73% | 5.27% | 5.94% | 5.25% | 3.41% | 2.31% | 2.92% | 3.76% | 3.45% | 3.20% | 0.00% | 0.00% |
EVV Eaton Vance Limited Duration Income Fund | 9.31% | 8.86% | 9.78% | 10.43% | 12.78% | 9.16% | 9.58% | 6.42% | 8.44% | 7.22% | 8.46% | 9.56% |
Frequently Asked Questions
EVV and DHEAX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVV has higher volatility (2.08%) compared to DHEAX (0.36%). In terms of maximum drawdown, EVV dropped -51.37% vs DHEAX's -12.34%.
DHEAX currently has the higher Sharpe Ratio (4.20 vs -0.02), 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.
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