EXG vs. EEIAX
EXG (Eaton Vance Tax-Managed Global Diversified Equity Income Fund) and EEIAX (Eaton Vance Emerging Markets Local Income Fund) are both mutual funds - EXG is a Dividend fund actively managed by Eaton Vance, while EEIAX is a Emerging Markets Bonds fund managed by Eaton Vance. Over the past 10 years, EXG returned 10.92%/yr vs 4.94%/yr for EEIAX. At a 0.44 correlation, their price movements are largely independent. EXG charges 1.07%/yr vs 1.19%/yr for EEIAX.
Performance
EXG vs. EEIAX - Performance Comparison
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Returns By Period
In the year-to-date period, EXG achieves a 3.51% return, which is significantly lower than EEIAX's 4.30% return. Over the past 10 years, EXG has outperformed EEIAX with an annualized return of 10.92%, while EEIAX has yielded a comparatively lower 4.94% annualized return.
EXG
- 1D
- -0.94%
- 1M
- 1.77%
- YTD
- 3.51%
- 6M
- 4.94%
- 1Y
- 21.38%
- 3Y*
- 16.39%
- 5Y*
- 7.79%
- 10Y*
- 10.92%
EEIAX
- 1D
- 0.00%
- 1M
- 1.61%
- YTD
- 4.30%
- 6M
- 5.00%
- 1Y
- 16.81%
- 3Y*
- 9.55%
- 5Y*
- 4.10%
- 10Y*
- 4.94%
EXG vs. EEIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund | 3.51% | 27.79% | 16.04% | 11.46% | -22.24% | 31.53% | 10.19% | 28.71% | -12.09% | 29.58% |
EEIAX Eaton Vance Emerging Markets Local Income Fund | 4.30% | 23.43% | -1.23% | 13.63% | -11.99% | -7.64% | 4.68% | 22.66% | -8.38% | 16.10% |
Correlation
The correlation between EXG and EEIAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2007 | 0.44 |
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Return for Risk
EXG vs. EEIAX — Risk / Return Rank
EXG
EEIAX
EXG vs. EEIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) and Eaton Vance Emerging Markets Local Income Fund (EEIAX). 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.
| EXG | EEIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.45 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.28 | -0.78 |
| Martin ratioReturn relative to average drawdown | 6.86 | 8.18 | -1.33 |
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Drawdowns
EXG vs. EEIAX - Drawdown Comparison
The maximum EXG drawdown since its inception was -58.45%, which is greater than EEIAX's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for EXG and EEIAX.
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Drawdown Indicators
| EXG | EEIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.45% | -31.70% | -26.75% |
Max Drawdown (1Y)Largest decline over 1 year | -14.28% | -7.40% | -6.88% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -9.34% | -5.78% |
Max Drawdown (5Y)Largest decline over 5 years | -27.82% | -25.94% | -1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -45.36% | -28.43% | -16.93% |
Current DrawdownCurrent decline from peak | -1.56% | -1.58% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -9.59% | -8.90% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 2.06% | +1.06% |
Volatility
EXG vs. EEIAX - Volatility Comparison
Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) has a higher volatility of 4.29% compared to Eaton Vance Emerging Markets Local Income Fund (EEIAX) at 2.05%. This indicates that EXG's price experiences larger fluctuations and is considered to be riskier than EEIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXG | EEIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 2.05% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.47% | 6.44% | +5.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 7.47% | +6.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 8.21% | +9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 8.41% | +11.58% |
EXG vs. EEIAX - Expense Ratio Comparison
EXG has a 1.07% expense ratio, which is lower than EEIAX's 1.19% expense ratio.
Dividends
EXG vs. EEIAX - Dividend Comparison
EXG's dividend yield for the trailing twelve months is around 8.33%, less than EEIAX's 9.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEIAX Eaton Vance Emerging Markets Local Income Fund | 9.94% | 8.48% | 11.19% | 11.34% | 13.39% | 11.14% | 9.77% | 13.03% | 10.48% | 8.74% | 10.80% | 11.65% |
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund | 8.33% | 8.27% | 9.27% | 8.60% | 10.59% | 7.27% | 8.43% | 8.42% | 12.23% | 9.84% | 12.16% | 11.02% |
Frequently Asked Questions
EXG and EEIAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EXG has higher volatility (4.29%) compared to EEIAX (2.05%). In terms of maximum drawdown, EXG dropped -58.45% vs EEIAX's -31.70%.
EEIAX currently has the higher Sharpe Ratio (2.26 vs 1.53), 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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