EVV vs. EOI

Last updated Jun 4, 2026

EVV (Eaton Vance Limited Duration Income Fund) and EOI (Eaton Vance Enhanced Equity Income Fund) are both mutual funds - EVV is a Short-Term Bond fund managed by Eaton Vance, while EOI is a Large Cap Blend Equities fund managed by Eaton Vance. Over the past 10 years, EVV returned 5.47%/yr vs 12.40%/yr for EOI. At a 0.39 correlation, their price movements are largely independent. EVV charges 0.04%/yr vs 0.01%/yr for EOI.

Performance

EVV vs. EOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Limited Duration Income Fund (EVV) and Eaton Vance Enhanced Equity Income Fund (EOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVV achieves a -2.89% return, which is significantly lower than EOI's -0.49% return. Over the past 10 years, EVV has underperformed EOI with an annualized return of 5.47%, while EOI has yielded a comparatively higher 12.40% annualized return.

EVV

• 1D: -0.86%
• 1M: -0.94%
• YTD: -2.89%
• 6M: -4.21%
• 1Y: 1.09%
• 3Y*: 10.04%
• 5Y*: 3.05%
• 10Y*: 5.47%

EOI

• 1D: -0.75%
• 1M: 0.72%
• YTD: -0.49%
• 6M: 4.67%
• 1Y: 6.00%
• 3Y*: 17.19%
• 5Y*: 10.12%
• 10Y*: 12.40%

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

EVV vs. EOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVV Eaton Vance Limited Duration Income Fund	-2.89%	10.72%	12.22%	13.33%	-19.94%	14.66%	4.67%	18.91%	-5.53%	6.77%
EOI Eaton Vance Enhanced Equity Income Fund	-0.49%	7.21%	35.73%	20.67%	-19.78%	32.93%	9.59%	31.97%	-4.26%	26.31%

Correlation

The correlation between EVV and EOI is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 28, 2004	0.39

Return for Risk

EVV vs. EOI — Risk / Return Rank

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

EVV

EVV Risk / Return Rank: 3
EVV Sharpe Ratio Rank: 3
EVV Sortino Ratio Rank: 3
EVV Omega Ratio Rank: 3
EVV Calmar Ratio Rank: 3
EVV Martin Ratio Rank: 4

EOI

EOI Risk / Return Rank: 6
EOI Sharpe Ratio Rank: 6
EOI Sortino Ratio Rank: 6
EOI Omega Ratio Rank: 6
EOI Calmar Ratio Rank: 5
EOI Martin Ratio Rank: 6

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.

EVV vs. EOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Limited Duration Income Fund (EVV) and Eaton Vance Enhanced Equity Income Fund (EOI). 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.

	EVV	EOI	Difference
Sharpe ratio: Return per unit of total volatility	0.12	0.47	-0.35
Sortino ratio: Return per unit of downside risk	0.24	0.74	-0.50
Omega ratio: Gain probability vs. loss probability	1.03	1.09	-0.06
Calmar ratio: Return relative to maximum drawdown	0.13	0.48	-0.35
Martin ratio: Return relative to average drawdown	0.42	1.61	-1.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVV vs. EOI - Sharpe Ratio Comparison

The current EVV Sharpe Ratio is 0.12, which is lower than the EOI Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of EVV and EOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EVV	EOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	0.47	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.55	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.63	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.42	-0.09

Drawdowns

EVV vs. EOI - Drawdown Comparison

The maximum EVV drawdown since its inception was -51.37%, roughly equal to the maximum EOI drawdown of -53.72%. Use the drawdown chart below to compare losses from any high point for EVV and EOI.

Drawdown Indicators

	EVV	EOI	Difference
Max Drawdown Largest peak-to-trough decline	-51.37%	-53.72%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-12.52%	+3.87%
Max Drawdown (3Y) Largest decline over 3 years	-9.53%	-23.15%	+13.62%
Max Drawdown (5Y) Largest decline over 5 years	-25.91%	-26.82%	+0.91%
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	-40.01%	-0.41%
Current Drawdown Current decline from peak	-4.69%	-3.06%	-1.63%
Average Drawdown Average peak-to-trough decline	-6.30%	-7.39%	+1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	3.73%	-1.16%

Volatility

EVV vs. EOI - Volatility Comparison

Eaton Vance Limited Duration Income Fund (EVV) and Eaton Vance Enhanced Equity Income Fund (EOI) have volatilities of 3.01% and 3.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVV	EOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	3.02%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	7.33%	10.49%	-3.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.08%	12.95%	-3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.57%	18.64%	-6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	19.88%	-4.45%

EVV vs. EOI - Expense Ratio Comparison

EVV has a 0.04% expense ratio, which is higher than EOI's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EVV vs. EOI - Dividend Comparison

EVV's dividend yield for the trailing twelve months is around 9.43%, more than EOI's 8.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EOI Eaton Vance Enhanced Equity Income Fund	8.11%	7.81%	7.38%	7.93%	8.80%	5.83%	6.66%	6.78%	8.01%	7.15%	8.36%	7.73%
EVV Eaton Vance Limited Duration Income Fund	9.43%	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

Can I hold both EVV and EOI in my portfolio?

EVV and EOI have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVV or EOI?

EOI has higher volatility (3.02%) compared to EVV (3.01%). In terms of maximum drawdown, EVV dropped -51.37% vs EOI's -53.72%.

Which has better risk-adjusted returns?

EOI currently has the higher Sharpe Ratio (0.47 vs 0.12), 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.