EWHYX vs. SHYTX
EWHYX (Eaton Vance High Yield Municipal Income Fund Class W) and SHYTX (DWS Strategic High Yield Tax) are both High Yield Muni funds. Over the past 3 years, EWHYX returned 5.02%/yr vs 4.39%/yr for SHYTX. Their correlation of 0.89 means they have usually moved in the same direction. EWHYX charges 0.18%/yr vs 0.59%/yr for SHYTX.
Performance
EWHYX vs. SHYTX - Performance Comparison
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Returns By Period
In the year-to-date period, EWHYX achieves a 2.53% return, which is significantly higher than SHYTX's 1.31% return.
EWHYX
- 1D
- -0.25%
- 1M
- -1.95%
- 6M
- 1.57%
- YTD
- 2.53%
- 1Y
- 8.67%
- 3Y*
- 5.02%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.39%
SHYTX
- 1D
- -0.38%
- 1M
- -1.74%
- 6M
- 0.88%
- YTD
- 1.31%
- 1Y
- 6.95%
- 3Y*
- 4.39%
- 5Y*
- -0.24%
- 10Y*
- 2.01%
- ALL TIME*
- 5.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EWHYX vs. SHYTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EWHYX Eaton Vance High Yield Municipal Income Fund Class W | 2.53% | 3.59% | 5.42% | 7.74% | -11.72% | 0.21% |
SHYTX DWS Strategic High Yield Tax | 1.31% | 4.05% | 5.47% | 7.64% | -17.22% | 0.96% |
Correlation
The correlation between EWHYX and SHYTX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021 | 0.89 |
The correlation between EWHYX and SHYTX shifts across timeframes, from 0.78 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWHYX vs. SHYTX — Risk / Return Rank
EWHYX
SHYTX
EWHYX vs. SHYTX - 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 DWS Strategic High Yield Tax (SHYTX). 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.
| EWHYX | SHYTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.51 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 2.51 | +0.79 |
| Martin ratioReturn relative to average drawdown | 12.27 | 8.20 | +4.08 |
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Drawdowns
EWHYX vs. SHYTX - Drawdown Comparison
The maximum EWHYX drawdown since its inception was -16.52%, smaller than the maximum SHYTX drawdown of -27.17%. Use the drawdown chart below to compare losses from any high point for EWHYX and SHYTX.
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Drawdown Indicators
| EWHYX | SHYTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.52% | -27.17% | +10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -3.10% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -7.00% | -0.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.59% | — |
Current DrawdownCurrent decline from peak | -1.95% | -1.74% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -5.20% | -2.75% | -2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.94% | -0.12% |
Volatility
EWHYX vs. SHYTX - Volatility Comparison
The current volatility for Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) is 0.89%, while DWS Strategic High Yield Tax (SHYTX) has a volatility of 1.21%. This indicates that EWHYX experiences smaller price fluctuations and is considered to be less risky than SHYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWHYX | SHYTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 1.21% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 2.71% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 3.47% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 5.24% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 5.03% | +0.15% |
EWHYX vs. SHYTX - Expense Ratio Comparison
EWHYX has a 0.18% expense ratio, which is lower than SHYTX's 0.59% expense ratio.
Dividends
EWHYX vs. SHYTX - Dividend Comparison
EWHYX's dividend yield for the trailing twelve months is around 4.77%, more than SHYTX's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWHYX Eaton Vance High Yield Municipal Income Fund Class W | 4.77% | 5.06% | 4.92% | 3.97% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYTX DWS Strategic High Yield Tax | 4.41% | 5.59% | 4.01% | 3.14% | 2.90% | 2.88% | 4.44% | 4.87% | 4.35% | 3.49% | 4.29% | 4.79% |
Frequently Asked Questions
EWHYX and SHYTX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYTX has higher volatility (1.21%) compared to EWHYX (0.89%). In terms of maximum drawdown, EWHYX dropped -16.52% vs SHYTX's -27.17%.
EWHYX currently has the higher Sharpe Ratio (2.78 vs 2.24), 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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