EVV vs. VBISX

Last updated Jun 4, 2026

EVV (Eaton Vance Limited Duration Income Fund) and VBISX (Vanguard Short-Term Bond Index Fund) are both Short-Term Bond funds. Over the past 10 years, EVV returned 5.47%/yr vs 1.78%/yr for VBISX. At a 0.04 correlation, their price movements are largely independent. EVV charges 0.04%/yr vs 0.15%/yr for VBISX.

Performance

EVV vs. VBISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Limited Duration Income Fund (EVV) and Vanguard Short-Term Bond Index Fund (VBISX). 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 VBISX's 0.16% return. Over the past 10 years, EVV has outperformed VBISX with an annualized return of 5.47%, while VBISX has yielded a comparatively lower 1.78% 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%

VBISX

• 1D: -0.10%
• 1M: 0.04%
• YTD: 0.16%
• 6M: 0.59%
• 1Y: 3.34%
• 3Y*: 4.11%
• 5Y*: 1.40%
• 10Y*: 1.78%

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

EVV vs. VBISX - 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%
VBISX Vanguard Short-Term Bond Index Fund	0.16%	5.67%	3.66%	4.54%	-5.61%	-1.35%	4.63%	4.78%	1.27%	1.10%

Correlation

The correlation between EVV and VBISX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 12, 2003	0.04

Over the past year, EVV and VBISX have become more correlated (0.28) than their long-term average of 0.04, meaning their price movements have been converging.

Return for Risk

EVV vs. VBISX — 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

VBISX

VBISX Risk / Return Rank: 36
VBISX Sharpe Ratio Rank: 31
VBISX Sortino Ratio Rank: 41
VBISX Omega Ratio Rank: 37
VBISX Calmar Ratio Rank: 38
VBISX Martin Ratio Rank: 33

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. VBISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Limited Duration Income Fund (EVV) and Vanguard Short-Term Bond Index Fund (VBISX). 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	VBISX	Difference
Sharpe ratio: Return per unit of total volatility	0.12	1.59	-1.47
Sortino ratio: Return per unit of downside risk	0.24	2.67	-2.43
Omega ratio: Gain probability vs. loss probability	1.03	1.32	-0.29
Calmar ratio: Return relative to maximum drawdown	0.13	2.30	-2.18
Martin ratio: Return relative to average drawdown	0.42	7.37	-6.94
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. VBISX - Sharpe Ratio Comparison

The current EVV Sharpe Ratio is 0.12, which is lower than the VBISX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of EVV and VBISX, 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	VBISX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.59	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.48	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.75	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	1.34	-1.01

Drawdowns

EVV vs. VBISX - Drawdown Comparison

The maximum EVV drawdown since its inception was -51.37%, which is greater than VBISX's maximum drawdown of -8.79%. Use the drawdown chart below to compare losses from any high point for EVV and VBISX.

Drawdown Indicators

	EVV	VBISX	Difference
Max Drawdown Largest peak-to-trough decline	-51.37%	-8.79%	-42.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-1.54%	-7.11%
Max Drawdown (3Y) Largest decline over 3 years	-9.53%	-1.55%	-7.98%
Max Drawdown (5Y) Largest decline over 5 years	-25.91%	-8.72%	-17.19%
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	-8.79%	-31.63%
Current Drawdown Current decline from peak	-4.69%	-0.75%	-3.94%
Average Drawdown Average peak-to-trough decline	-6.30%	-0.87%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	0.48%	+2.09%

Volatility

EVV vs. VBISX - Volatility Comparison

Eaton Vance Limited Duration Income Fund (EVV) has a higher volatility of 3.01% compared to Vanguard Short-Term Bond Index Fund (VBISX) at 0.67%. This indicates that EVV's price experiences larger fluctuations and is considered to be riskier than VBISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVV	VBISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	0.67%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	7.33%	1.58%	+5.75%
Volatility (1Y) Calculated over the trailing 1-year period	9.08%	2.24%	+6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.57%	2.94%	+9.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	2.38%	+13.05%

EVV vs. VBISX - Expense Ratio Comparison

EVV has a 0.04% expense ratio, which is lower than VBISX's 0.15% expense ratio. Despite the difference, 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. VBISX - Dividend Comparison

EVV's dividend yield for the trailing twelve months is around 9.43%, more than VBISX's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VBISX Vanguard Short-Term Bond Index Fund	3.90%	3.44%	3.29%	2.10%	1.38%	1.16%	1.72%	2.16%	1.92%	1.58%	1.42%	1.34%

Frequently Asked Questions

Can I hold both EVV and VBISX in my portfolio?

EVV and VBISX have a correlation of 0.28, 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 VBISX?

EVV has higher volatility (3.01%) compared to VBISX (0.67%). In terms of maximum drawdown, EVV dropped -51.37% vs VBISX's -8.79%.

Which has better risk-adjusted returns?

VBISX currently has the higher Sharpe Ratio (1.59 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.