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 1.29%/yr vs 12.97%/yr for E. Their -0.02 correlation means they have often moved in opposite directions in the past.
Performance
EZMAX vs. E - Performance Comparison
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Returns By Period
In the year-to-date period, EZMAX achieves a -0.16% return, which is significantly lower than E's 49.82% return. Over the past 10 years, EZMAX has underperformed E with an annualized return of 1.29%, while E has yielded a comparatively higher 12.97% annualized return.
EZMAX
- 1D
- -0.11%
- 1M
- -1.36%
- 6M
- -0.74%
- YTD
- -0.16%
- 1Y
- 2.74%
- 3Y*
- 3.15%
- 5Y*
- 0.81%
- 10Y*
- 1.29%
- ALL TIME*
- 2.43%
E
- 1D
- 0.00%
- 1M
- 18.54%
- 6M
- 38.91%
- YTD
- 49.82%
- 1Y
- 72.88%
- 3Y*
- 30.16%
- 5Y*
- 26.94%
- 10Y*
- 12.97%
- ALL TIME*
- 9.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.39M | $21.06M | $21.85M | |
| $0.00 | $0.00 | $0.00 |
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 | -0.16% | 4.72% | 3.26% | 3.09% | -5.73% | 1.01% | 1.33% | 3.99% | 1.41% | 3.88% |
E Eni S.p.A. | 49.82% | 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 -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 1995 | -0.02 |
The correlation between EZMAX and E shifts across timeframes, from -0.11 (1 year) to 0.01 (5 years), reflecting how their relationship changes across market environments.
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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.
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.
| EZMAX | E | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.46 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 3.64 | -2.15 |
| Martin ratioReturn relative to average drawdown | 4.32 | 12.58 | -8.25 |
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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% | -20.00% | +17.73% |
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 | -1.75% | -2.47% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -23.02% | +21.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 5.79% | -5.01% |
Volatility
EZMAX vs. E - Volatility Comparison
The current volatility for Eaton Vance Short Duration Municipal Opportunities Fund (EZMAX) is 0.71%, while Eni S.p.A. (E) has a volatility of 10.66%. 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 | 0.71% | 10.66% | -9.95% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 21.89% | -20.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.95% | 25.66% | -23.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.20% | 25.37% | -23.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.25% | 28.17% | -25.92% |
Dividends
EZMAX vs. E - Dividend Comparison
EZMAX's dividend yield for the trailing twelve months is around 2.09%, less than E's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
E Eni S.p.A. | 4.34% | 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 | 2.09% | 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 -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
E has higher volatility (10.66%) compared to EZMAX (0.71%). In terms of maximum drawdown, EZMAX dropped -9.90% vs E's -70.53%.
E currently has the higher Sharpe Ratio (2.84 vs 1.74), 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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