EXG vs. FDGDX

Last updated Jun 3, 2026

EXG (Eaton Vance Tax-Managed Global Diversified Equity Income Fund) and FDGDX (Fidelity Advisor 529 Dividend Growth Portfolio Class D) are both Dividend funds. Both are actively managed. Over the past 5 years, EXG returned 7.90%/yr vs 14.93%/yr for FDGDX. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

EXG vs. FDGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) and Fidelity Advisor 529 Dividend Growth Portfolio Class D (FDGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXG achieves a 3.99% return, which is significantly lower than FDGDX's 17.24% return.

EXG

• 1D: 0.53%
• 1M: 2.09%
• YTD: 3.99%
• 6M: 8.14%
• 1Y: 20.88%
• 3Y*: 16.79%
• 5Y*: 7.90%
• 10Y*: 10.53%

FDGDX

• 1D: 0.74%
• 1M: 5.02%
• YTD: 17.24%
• 6M: 19.11%
• 1Y: 39.13%
• 3Y*: 26.40%
• 5Y*: 14.93%
• 10Y*: —

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

EXG vs. FDGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund	3.99%	27.79%	16.04%	11.46%	-22.24%	31.53%	10.19%	28.71%	-12.09%	21.05%
FDGDX Fidelity Advisor 529 Dividend Growth Portfolio Class D	17.24%	21.56%	26.30%	16.72%	-12.54%	27.06%	1.32%	27.67%	-7.58%	17.77%

Correlation

The correlation between EXG and FDGDX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.68

The correlation between EXG and FDGDX has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

Return for Risk

EXG vs. FDGDX — Risk / Return Rank

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

EXG

EXG Risk / Return Rank: 26
EXG Sharpe Ratio Rank: 28
EXG Sortino Ratio Rank: 28
EXG Omega Ratio Rank: 28
EXG Calmar Ratio Rank: 16
EXG Martin Ratio Rank: 28

FDGDX

FDGDX Risk / Return Rank: 92
FDGDX Sharpe Ratio Rank: 93
FDGDX Sortino Ratio Rank: 89
FDGDX Omega Ratio Rank: 86
FDGDX Calmar Ratio Rank: 94
FDGDX Martin Ratio Rank: 96

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.

EXG vs. FDGDX - 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 Fidelity Advisor 529 Dividend Growth Portfolio Class D (FDGDX). 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.

	EXG	FDGDX	Difference
Sharpe ratio Return per unit of total volatility	1.54	3.21	-1.67
Sortino ratio Return per unit of downside risk	2.24	4.31	-2.07
Omega ratio Gain probability vs. loss probability	1.28	1.58	-0.30
Calmar ratio Return relative to maximum drawdown	1.50	5.46	-3.96
Martin ratio Return relative to average drawdown	6.87	24.78	-17.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXG vs. FDGDX - Sharpe Ratio Comparison

The current EXG Sharpe Ratio is 1.54, which is lower than the FDGDX Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of EXG and FDGDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EXG	FDGDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	3.21	-1.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.90	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.71	-0.40

Drawdowns

EXG vs. FDGDX - Drawdown Comparison

The maximum EXG drawdown since its inception was -58.45%, which is greater than FDGDX's maximum drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for EXG and FDGDX.

Drawdown Indicators

	EXG	FDGDX	Difference
Max Drawdown Largest peak-to-trough decline	-58.45%	-38.44%	-20.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.28%	-10.23%	-4.05%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-21.70%	+6.58%
Max Drawdown (5Y) Largest decline over 5 years	-27.82%	-21.70%	-6.12%
Max Drawdown (10Y) Largest decline over 10 years	-45.36%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.62%	-5.43%	-4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	2.25%	+0.87%

Volatility

EXG vs. FDGDX - Volatility Comparison

Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) has a higher volatility of 4.29% compared to Fidelity Advisor 529 Dividend Growth Portfolio Class D (FDGDX) at 3.83%. This indicates that EXG's price experiences larger fluctuations and is considered to be riskier than FDGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXG	FDGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	3.83%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	11.35%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.62%	13.95%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.49%	17.06%	+0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	19.40%	+0.59%

Dividends

EXG vs. FDGDX - Dividend Comparison

EXG's dividend yield for the trailing twelve months is around 8.24%, while FDGDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund	8.24%	8.27%	9.27%	8.60%	10.59%	7.27%	8.43%	8.42%	12.23%	9.84%	12.16%	11.02%
FDGDX Fidelity Advisor 529 Dividend Growth Portfolio Class D	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EXG and FDGDX in my portfolio?

EXG and FDGDX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EXG or FDGDX?

EXG has higher volatility (4.29%) compared to FDGDX (3.83%). In terms of maximum drawdown, EXG dropped -58.45% vs FDGDX's -38.44%.

Which has better risk-adjusted returns?

FDGDX currently has the higher Sharpe Ratio (3.21 vs 1.54), 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.