EZMAX vs. EISMX
EZMAX (Eaton Vance Short Duration Municipal Opportunities Fund) and EISMX (Eaton Vance Atlanta Capital SMID-Cap Fund) are both mutual funds - EZMAX is a Municipal Bonds fund managed by Eaton Vance, while EISMX is a Mid Cap Growth Equities fund managed by Eaton Vance. Over the past 10 years, EZMAX returned 1.29%/yr vs 10.34%/yr for EISMX. Their -0.05 correlation means they have often moved in opposite directions in the past. EZMAX charges 1.41%/yr vs 0.88%/yr for EISMX.
Performance
EZMAX vs. EISMX - 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 EISMX's 5.24% return. Over the past 10 years, EZMAX has underperformed EISMX with an annualized return of 1.29%, while EISMX has yielded a comparatively higher 10.34% 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%
EISMX
- 1D
- -1.07%
- 1M
- 3.30%
- 6M
- 3.91%
- YTD
- 5.24%
- 1Y
- 2.39%
- 3Y*
- 6.91%
- 5Y*
- 5.08%
- 10Y*
- 10.34%
- ALL TIME*
- 10.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EZMAX vs. EISMX - 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% |
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund | 5.24% | -5.66% | 17.64% | 14.01% | -8.77% | 22.02% | 11.31% | 34.37% | -5.55% | 24.71% |
Correlation
The correlation between EZMAX and EISMX is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2002 | -0.05 |
The correlation between EZMAX and EISMX shifts across timeframes, from -0.05 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EZMAX vs. EISMX — Risk / Return Rank
EZMAX
EISMX
EZMAX vs. EISMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Opportunities Fund (EZMAX) and Eaton Vance Atlanta Capital SMID-Cap Fund (EISMX). 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 | EISMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.00 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | -0.10 | +1.60 |
| Martin ratioReturn relative to average drawdown | 4.32 | -0.20 | +4.52 |
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Drawdowns
EZMAX vs. EISMX - Drawdown Comparison
The maximum EZMAX drawdown since its inception was -9.90%, smaller than the maximum EISMX drawdown of -45.32%. Use the drawdown chart below to compare losses from any high point for EZMAX and EISMX.
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Drawdown Indicators
| EZMAX | EISMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.90% | -45.32% | +35.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -12.69% | +10.42% |
Max Drawdown (3Y)Largest decline over 3 years | -2.96% | -19.39% | +16.43% |
Max Drawdown (5Y)Largest decline over 5 years | -8.34% | -19.81% | +11.47% |
Max Drawdown (10Y)Largest decline over 10 years | -8.34% | -39.95% | +31.61% |
Current DrawdownCurrent decline from peak | -1.75% | -6.45% | +4.70% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -5.86% | +4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 6.40% | -5.62% |
Volatility
EZMAX vs. EISMX - Volatility Comparison
The current volatility for Eaton Vance Short Duration Municipal Opportunities Fund (EZMAX) is 0.71%, while Eaton Vance Atlanta Capital SMID-Cap Fund (EISMX) has a volatility of 5.63%. This indicates that EZMAX experiences smaller price fluctuations and is considered to be less risky than EISMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZMAX | EISMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 5.63% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 12.13% | -10.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.95% | 16.19% | -14.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.20% | 17.21% | -15.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.25% | 18.87% | -16.62% |
EZMAX vs. EISMX - Expense Ratio Comparison
EZMAX has a 1.41% expense ratio, which is higher than EISMX's 0.88% expense ratio.
Dividends
EZMAX vs. EISMX - Dividend Comparison
EZMAX's dividend yield for the trailing twelve months is around 2.09%, less than EISMX's 6.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund | 6.11% | 6.43% | 7.26% | 2.78% | 10.37% | 10.49% | 9.80% | 6.52% | 7.20% | 3.30% | 3.58% | 6.70% |
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 EISMX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EISMX has higher volatility (5.63%) compared to EZMAX (0.71%). In terms of maximum drawdown, EZMAX dropped -9.90% vs EISMX's -45.32%.
EZMAX currently has the higher Sharpe Ratio (1.74 vs -0.08), 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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