EZMAX vs. E
EZMAX (Eaton Vance Short Duration Municipal Opportunities Fund) is Municipal Bonds fund managed by Eaton Vance, while E (Eni S.p.A.) is a stock. Over the past 10 years, EZMAX returned 1.49%/yr vs 12.35%/yr for E. At a correlation of -0.02, they often move in opposite directions.
Performance
EZMAX vs. E - Performance Comparison
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Returns By Period
In the year-to-date period, EZMAX achieves a 0.91% return, which is significantly lower than E's 46.53% return. Over the past 10 years, EZMAX has underperformed E with an annualized return of 1.49%, while E has yielded a comparatively higher 12.35% annualized return.
EZMAX
- 1D
- 0.10%
- 1M
- 0.49%
- YTD
- 0.91%
- 6M
- 1.20%
- 1Y
- 5.03%
- 3Y*
- 3.67%
- 5Y*
- 1.15%
- 10Y*
- 1.49%
E
- 1D
- 0.54%
- 1M
- -2.20%
- YTD
- 46.53%
- 6M
- 45.27%
- 1Y
- 90.13%
- 3Y*
- 32.55%
- 5Y*
- 24.42%
- 10Y*
- 12.35%
EZMAX vs. E - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EZMAX Eaton Vance Short Duration Municipal Opportunities Fund | 0.91% | 4.72% | 3.26% | 3.09% | -5.73% | 1.01% | 1.33% | 3.99% | 1.41% | 3.88% |
E Eni S.p.A. | 46.53% | 48.40% | -13.95% | 26.73% | 10.92% | 43.12% | -28.73% | 4.29% | -0.98% | 7.27% |
Correlation
The correlation between EZMAX and E is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 1995 | -0.02 |
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Return for Risk
EZMAX vs. E — Risk / Return Rank
EZMAX
E
EZMAX vs. E - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Opportunities Fund (EZMAX) and Eni S.p.A. (E). 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.
| EZMAX | E | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.63 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 9.74 | -7.51 |
| Martin ratioReturn relative to average drawdown | 7.37 | 33.40 | -26.03 |
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
| EZMAX | E | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 4.00 | -1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.98 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.44 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.32 | +0.55 |
Drawdowns
EZMAX vs. E - Drawdown Comparison
The maximum EZMAX drawdown since its inception was -9.90%, smaller than the maximum E drawdown of -70.53%. Use the drawdown chart below to compare losses from any high point for EZMAX and E.
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Drawdown Indicators
| EZMAX | E | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.90% | -70.53% | +60.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -9.30% | +7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -2.96% | -20.13% | +17.17% |
Max Drawdown (5Y)Largest decline over 5 years | -8.34% | -33.71% | +25.37% |
Max Drawdown (10Y)Largest decline over 10 years | -8.34% | -61.59% | +53.25% |
Current DrawdownCurrent decline from peak | -0.70% | -4.61% | +3.91% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -23.08% | +21.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 2.71% | -2.03% |
Volatility
EZMAX vs. E - Volatility Comparison
The current volatility for Eaton Vance Short Duration Municipal Opportunities Fund (EZMAX) is 0.69%, while Eni S.p.A. (E) has a volatility of 8.76%. This indicates that EZMAX experiences smaller price fluctuations and is considered to be less risky than E based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZMAX | E | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 8.76% | -8.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 19.59% | -18.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.85% | 22.68% | -20.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.17% | 25.03% | -22.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.25% | 28.35% | -26.10% |
Dividends
EZMAX vs. E - Dividend Comparison
EZMAX's dividend yield for the trailing twelve months is around 2.25%, less than E's 4.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
E Eni S.p.A. | 4.43% | 5.88% | 7.69% | 5.74% | 6.38% | 5.79% | 5.91% | 6.11% | 5.15% | 3.96% | 3.98% | 5.14% |
EZMAX Eaton Vance Short Duration Municipal Opportunities Fund | 2.25% | 2.88% | 2.46% | 1.62% | 0.92% | 0.39% | 0.90% | 1.52% | 1.51% | 1.36% | 1.83% | 1.87% |
Frequently Asked Questions
EZMAX and E have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
E has higher volatility (8.76%) compared to EZMAX (0.69%). In terms of maximum drawdown, EZMAX dropped -9.90% vs E's -70.53%.
E currently has the higher Sharpe Ratio (4.00 vs 2.74), 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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