EWHYX vs. TMNIX

Last updated Apr 2, 2026

Compare and contrast key facts about Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) and Counterpoint Tactical Municipal Fund (TMNIX).

EWHYX is an actively managed fund by Eaton Vance. It was launched on May 9, 2007. TMNIX is managed by Counterpoint Mutual Funds. It was launched on Jun 10, 2018.

Performance

EWHYX vs. TMNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) and Counterpoint Tactical Municipal Fund (TMNIX). The values are adjusted to include any dividend payments, if applicable.

EWHYX vs. TMNIX - 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%
TMNIX Counterpoint Tactical Municipal Fund	-0.24%	2.56%	3.92%	6.85%	-3.12%	0.18%

Returns By Period

In the year-to-date period, EWHYX achieves a 0.37% return, which is significantly higher than TMNIX's -0.24% return.

EWHYX

• 1D: 0.38%
• 1M: -2.08%
• YTD: 0.37%
• 6M: 2.18%
• 1Y: 3.60%
• 3Y*: 4.88%
• 5Y*: —
• 10Y*: —

TMNIX

• 1D: 0.00%
• 1M: -1.82%
• YTD: -0.24%
• 6M: 0.81%
• 1Y: 3.88%
• 3Y*: 3.41%
• 5Y*: 2.35%
• 10Y*: —

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

EWHYX vs. TMNIX - Expense Ratio Comparison

EWHYX has a 0.18% expense ratio, which is lower than TMNIX's 1.00% expense ratio.

TMNIX

Counterpoint Tactical Municipal Fund

EWHYX

Eaton Vance High Yield Municipal Income Fund Class W

Return for Risk

EWHYX vs. TMNIX — Risk / Return Rank

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

EWHYX

EWHYX Risk / Return Rank: 17
EWHYX Sharpe Ratio Rank: 17
EWHYX Sortino Ratio Rank: 14
EWHYX Omega Ratio Rank: 25
EWHYX Calmar Ratio Rank: 16
EWHYX Martin Ratio Rank: 13

TMNIX

TMNIX Risk / Return Rank: 78
TMNIX Sharpe Ratio Rank: 83
TMNIX Sortino Ratio Rank: 87
TMNIX Omega Ratio Rank: 91
TMNIX Calmar Ratio Rank: 69
TMNIX Martin Ratio Rank: 58

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.

EWHYX vs. TMNIX - 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 Counterpoint Tactical Municipal Fund (TMNIX). 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	TMNIX	Difference
Sharpe ratio Return per unit of total volatility	0.61	1.67	-1.06
Sortino ratio Return per unit of downside risk	0.84	2.48	-1.64
Omega ratio Gain probability vs. loss probability	1.16	1.43	-0.27
Calmar ratio Return relative to maximum drawdown	0.71	1.80	-1.09
Martin ratio Return relative to average drawdown	1.85	6.33	-4.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWHYX vs. TMNIX - Sharpe Ratio Comparison

The current EWHYX Sharpe Ratio is 0.61, which is lower than the TMNIX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of EWHYX and TMNIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EWHYX	TMNIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	1.67	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	1.35	-1.16

Correlation

The correlation between EWHYX and TMNIX is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EWHYX vs. TMNIX - Dividend Comparison

EWHYX's dividend yield for the trailing twelve months is around 4.73%, more than TMNIX's 3.07% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
TMNIX Counterpoint Tactical Municipal Fund	3.07%	2.79%	3.31%	3.40%	0.36%	4.39%	2.36%	3.69%	1.10%

Drawdowns

EWHYX vs. TMNIX - Drawdown Comparison

The maximum EWHYX drawdown since its inception was -16.52%, which is greater than TMNIX's maximum drawdown of -4.63%. Use the drawdown chart below to compare losses from any high point for EWHYX and TMNIX.

Drawdown Indicators

	EWHYX	TMNIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.52%	-4.63%	-11.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-2.21%	-4.38%
Max Drawdown (5Y) Largest decline over 5 years	—	-4.63%	—
Current Drawdown Current decline from peak	-2.43%	-2.18%	-0.25%
Average Drawdown Average peak-to-trough decline	-5.55%	-1.48%	-4.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	0.63%	+1.90%

Volatility

EWHYX vs. TMNIX - Volatility Comparison

Eaton Vance High Yield Municipal Income Fund Class W (EWHYX) has a higher volatility of 1.21% compared to Counterpoint Tactical Municipal Fund (TMNIX) at 1.07%. This indicates that EWHYX's price experiences larger fluctuations and is considered to be riskier than TMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWHYX	TMNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	1.07%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	2.17%	1.69%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	6.62%	2.34%	+4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.27%	3.00%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.27%	2.68%	+2.59%