GSXIX vs. ETMGX
GSXIX (abrdn U.S. Small Cap Equity Fund) and ETMGX (Eaton Vance Tax-Managed Small-Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, GSXIX returned 14.68%/yr vs 8.38%/yr for ETMGX. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 1.11% expense ratio.
Performance
GSXIX vs. ETMGX - Performance Comparison
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Returns By Period
In the year-to-date period, GSXIX achieves a 23.37% return, which is significantly higher than ETMGX's 5.35% return. Over the past 10 years, GSXIX has outperformed ETMGX with an annualized return of 14.68%, while ETMGX has yielded a comparatively lower 8.38% annualized return.
GSXIX
- 1D
- -0.94%
- 1M
- 6.82%
- YTD
- 23.37%
- 6M
- 18.39%
- 1Y
- 30.55%
- 3Y*
- 18.16%
- 5Y*
- 13.49%
- 10Y*
- 14.68%
ETMGX
- 1D
- -0.24%
- 1M
- 3.93%
- YTD
- 5.35%
- 6M
- 2.95%
- 1Y
- 1.22%
- 3Y*
- 5.03%
- 5Y*
- 1.55%
- 10Y*
- 8.38%
GSXIX vs. ETMGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSXIX abrdn U.S. Small Cap Equity Fund | 23.37% | 8.99% | 16.00% | 11.28% | -25.87% | 70.47% | 28.48% | 25.11% | -13.29% | 11.29% |
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 5.35% | -6.63% | 11.43% | 11.06% | -16.53% | 20.91% | 12.33% | 27.32% | -5.86% | 15.26% |
Correlation
The correlation between GSXIX and ETMGX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.92 |
The correlation between GSXIX and ETMGX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
GSXIX vs. ETMGX — Risk / Return Rank
GSXIX
ETMGX
GSXIX vs. ETMGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn U.S. Small Cap Equity Fund (GSXIX) and Eaton Vance Tax-Managed Small-Cap Fund (ETMGX). 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.
| GSXIX | ETMGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.03 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 0.16 | +2.99 |
| Martin ratioReturn relative to average drawdown | 11.47 | 0.35 | +11.12 |
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Drawdowns
GSXIX vs. ETMGX - Drawdown Comparison
The maximum GSXIX drawdown since its inception was -35.39%, roughly equal to the maximum ETMGX drawdown of -37.02%. Use the drawdown chart below to compare losses from any high point for GSXIX and ETMGX.
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Drawdown Indicators
| GSXIX | ETMGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -37.02% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -13.14% | +2.93% |
Max Drawdown (3Y)Largest decline over 3 years | -23.22% | -22.28% | -0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -32.39% | -25.14% | -7.25% |
Max Drawdown (10Y)Largest decline over 10 years | -35.39% | -37.02% | +1.63% |
Current DrawdownCurrent decline from peak | -0.94% | -9.70% | +8.76% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -6.60% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 5.96% | -3.16% |
Volatility
GSXIX vs. ETMGX - Volatility Comparison
abrdn U.S. Small Cap Equity Fund (GSXIX) has a higher volatility of 5.05% compared to Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) at 4.66%. This indicates that GSXIX's price experiences larger fluctuations and is considered to be riskier than ETMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSXIX | ETMGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 4.66% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 14.12% | 11.51% | +2.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.39% | 16.31% | +2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.74% | 18.77% | +6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.71% | 19.91% | +3.80% |
GSXIX vs. ETMGX - Expense Ratio Comparison
Both GSXIX and ETMGX have an expense ratio of 1.11%.
Dividends
GSXIX vs. ETMGX - Dividend Comparison
GSXIX has not paid dividends to shareholders, while ETMGX's dividend yield for the trailing twelve months is around 6.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 6.69% | 7.04% | 2.85% | 1.36% | 2.80% | 8.28% | 0.09% | 6.50% | 7.75% | 11.87% | 6.00% | 5.50% |
GSXIX abrdn U.S. Small Cap Equity Fund | 0.00% | 0.00% | 0.00% | 0.00% | 5.42% | 44.27% | 6.63% | 7.30% | 13.20% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GSXIX and ETMGX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSXIX has higher volatility (5.05%) compared to ETMGX (4.66%). In terms of maximum drawdown, GSXIX dropped -35.39% vs ETMGX's -37.02%.
GSXIX currently has the higher Sharpe Ratio (1.75 vs 0.13), 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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