EVV vs. VISTX

Last updated Jun 23, 2026

EVV (Eaton Vance Limited Duration Income Fund) and VISTX (Vanguard Institutional Short-Term Bond Fund) are both Short-Term Bond funds. Over the past 10 years, EVV returned 5.39%/yr vs 2.44%/yr for VISTX. At a 0.11 correlation, their price movements are largely independent. EVV charges 0.04%/yr vs 0.02%/yr for VISTX.

Performance

EVV vs. VISTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Limited Duration Income Fund (EVV) and Vanguard Institutional Short-Term Bond Fund (VISTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVV achieves a -2.78% return, which is significantly lower than VISTX's 0.81% return. Over the past 10 years, EVV has outperformed VISTX with an annualized return of 5.39%, while VISTX has yielded a comparatively lower 2.44% annualized return.

EVV

• 1D: 0.55%
• 1M: -0.10%
• YTD: -2.78%
• 6M: -2.29%
• 1Y: 0.43%
• 3Y*: 9.90%
• 5Y*: 2.63%
• 10Y*: 5.39%

VISTX

• 1D: 0.08%
• 1M: 0.22%
• YTD: 0.81%
• 6M: 0.97%
• 1Y: 3.89%
• 3Y*: 5.16%
• 5Y*: 2.53%
• 10Y*: 2.44%

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

EVV vs. VISTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVV Eaton Vance Limited Duration Income Fund	-2.78%	10.72%	12.22%	13.33%	-19.94%	14.66%	4.67%	18.91%	-5.53%	6.77%
VISTX Vanguard Institutional Short-Term Bond Fund	0.81%	5.68%	5.56%	4.98%	-3.73%	-0.04%	3.92%	4.20%	1.83%	1.42%

Correlation

The correlation between EVV and VISTX 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	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.11

The correlation between EVV and VISTX shifts across timeframes, from 0.11 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EVV vs. VISTX — 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: 3

VISTX

VISTX Risk / Return Rank: 93
VISTX Sharpe Ratio Rank: 93
VISTX Sortino Ratio Rank: 95
VISTX Omega Ratio Rank: 93
VISTX Calmar Ratio Rank: 92
VISTX Martin Ratio Rank: 94

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. VISTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Limited Duration Income Fund (EVV) and Vanguard Institutional Short-Term Bond Fund (VISTX). 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	VISTX	Difference
Sharpe ratio: Return per unit of total volatility	0.05	2.93	-2.88
Sortino ratio: Return per unit of downside risk	0.14	4.65	-4.52
Omega ratio: Gain probability vs. loss probability	1.02	1.67	-0.65
Calmar ratio: Return relative to maximum drawdown	0.05	4.63	-4.58
Martin ratio: Return relative to average drawdown	0.16	19.21	-19.05

EVV vs. VISTX - Sharpe Ratio Comparison

The current EVV Sharpe Ratio is 0.05, which is lower than the VISTX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of EVV and VISTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EVV vs. VISTX - Drawdown Comparison

The maximum EVV drawdown since its inception was -51.37%, which is greater than VISTX's maximum drawdown of -5.64%. Use the drawdown chart below to compare losses from any high point for EVV and VISTX.

Drawdown Indicators

	EVV	VISTX	Difference
Max Drawdown Largest peak-to-trough decline	-51.37%	-5.64%	-45.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-0.86%	-7.79%
Max Drawdown (3Y) Largest decline over 3 years	-9.53%	-0.86%	-8.67%
Max Drawdown (5Y) Largest decline over 5 years	-25.91%	-5.64%	-20.27%
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	-5.64%	-34.78%
Current Drawdown Current decline from peak	-4.58%	-0.23%	-4.35%
Average Drawdown Average peak-to-trough decline	-6.30%	-0.68%	-5.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	0.21%	+2.56%

Volatility

EVV vs. VISTX - Volatility Comparison

Eaton Vance Limited Duration Income Fund (EVV) has a higher volatility of 1.89% compared to Vanguard Institutional Short-Term Bond Fund (VISTX) at 0.56%. This indicates that EVV's price experiences larger fluctuations and is considered to be riskier than VISTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVV	VISTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	0.56%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	7.19%	0.96%	+6.23%
Volatility (1Y) Calculated over the trailing 1-year period	9.12%	1.36%	+7.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.57%	1.88%	+10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	1.48%	+13.95%

EVV vs. VISTX - Expense Ratio Comparison

EVV has a 0.04% expense ratio, which is higher than VISTX's 0.02% 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. VISTX - Dividend Comparison

EVV's dividend yield for the trailing twelve months is around 9.47%, more than VISTX's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVV Eaton Vance Limited Duration Income Fund	9.47%	8.86%	9.78%	10.43%	12.78%	9.16%	9.58%	6.42%	8.44%	7.22%	8.46%	9.56%
VISTX Vanguard Institutional Short-Term Bond Fund	4.46%	4.53%	5.03%	3.91%	1.76%	1.85%	2.33%	2.72%	2.32%	1.78%	1.51%	0.00%

Frequently Asked Questions

Can I hold both EVV and VISTX in my portfolio?

EVV and VISTX 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 VISTX?

EVV has higher volatility (1.89%) compared to VISTX (0.56%). In terms of maximum drawdown, EVV dropped -51.37% vs VISTX's -5.64%.

Which has better risk-adjusted returns?

VISTX currently has the higher Sharpe Ratio (2.93 vs 0.05), 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.