EWHYX vs. EIMAX
Compare and contrast key facts about Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) and Eaton Vance Massachusetts Municipal Income Fund (EIMAX).
EWHYX is an actively managed fund by Eaton Vance. It was launched on May 9, 2007. EIMAX is managed by Eaton Vance. It was launched on Jun 16, 1993.
Performance
EWHYX vs. EIMAX - Performance Comparison
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EWHYX vs. EIMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EWHYX Eaton Vance High Yield Municipal Income Fund Class W | 0.37% | 3.59% | 5.42% | 7.74% | -11.72% | 0.21% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | -0.44% | 3.76% | 1.37% | 5.06% | -9.61% | 0.58% |
Returns By Period
In the year-to-date period, EWHYX achieves a 0.37% return, which is significantly higher than EIMAX's -0.44% return.
EWHYX
- 1D
- 0.38%
- 1M
- -2.08%
- YTD
- 0.37%
- 6M
- 2.18%
- 1Y
- 3.60%
- 3Y*
- 4.88%
- 5Y*
- —
- 10Y*
- —
EIMAX
- 1D
- 0.26%
- 1M
- -2.15%
- YTD
- -0.44%
- 6M
- 0.97%
- 1Y
- 3.47%
- 3Y*
- 2.36%
- 5Y*
- 0.17%
- 10Y*
- 1.49%
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EWHYX vs. EIMAX - Expense Ratio Comparison
EWHYX has a 0.18% expense ratio, which is lower than EIMAX's 0.48% expense ratio.
Return for Risk
EWHYX vs. EIMAX — Risk / Return Rank
EWHYX
EIMAX
EWHYX vs. EIMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) and Eaton Vance Massachusetts Municipal Income Fund (EIMAX). 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.
| EWHYX | EIMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 0.68 | -0.08 |
Sortino ratioReturn per unit of downside risk | 0.84 | 0.96 | -0.11 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.21 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.85 | -0.14 |
Martin ratioReturn relative to average drawdown | 1.85 | 2.95 | -1.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWHYX | EIMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 0.68 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.04 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.56 | -0.37 |
Correlation
The correlation between EWHYX and EIMAX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EWHYX vs. EIMAX - Dividend Comparison
EWHYX's dividend yield for the trailing twelve months is around 4.73%, more than EIMAX's 3.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWHYX Eaton Vance High Yield Municipal Income Fund Class W | 4.73% | 5.06% | 4.92% | 3.97% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EIMAX Eaton Vance Massachusetts Municipal Income Fund | 3.65% | 4.52% | 4.15% | 2.39% | 2.62% | 2.01% | 2.58% | 3.46% | 3.27% | 3.41% | 3.65% | 3.70% |
Drawdowns
EWHYX vs. EIMAX - Drawdown Comparison
The maximum EWHYX drawdown since its inception was -16.52%, smaller than the maximum EIMAX drawdown of -29.25%. Use the drawdown chart below to compare losses from any high point for EWHYX and EIMAX.
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Drawdown Indicators
| EWHYX | EIMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.52% | -29.25% | +12.73% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -5.62% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.67% | — |
Current DrawdownCurrent decline from peak | -2.43% | -2.40% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -3.92% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 1.62% | +0.91% |
Volatility
EWHYX vs. EIMAX - Volatility Comparison
Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) has a higher volatility of 1.21% compared to Eaton Vance Massachusetts Municipal Income Fund (EIMAX) at 1.09%. This indicates that EWHYX's price experiences larger fluctuations and is considered to be riskier than EIMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWHYX | EIMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.09% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 1.70% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.62% | 5.75% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 4.34% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 4.19% | +1.08% |