LGOV vs. EVMO

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust Long Duration Opportunities ETF (LGOV) and Eaton Vance Mortgage Opportunities ETF (EVMO).

LGOV and EVMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LGOV is an actively managed fund by First Trust. It was launched on Jan 22, 2019. EVMO is an actively managed fund by Eaton Vance. It was launched on Aug 4, 2025.

Performance

LGOV vs. EVMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Long Duration Opportunities ETF (LGOV) and Eaton Vance Mortgage Opportunities ETF (EVMO). The values are adjusted to include any dividend payments, if applicable.

LGOV vs. EVMO - Yearly Performance Comparison

	2026 (YTD)	2025
LGOV First Trust Long Duration Opportunities ETF	-0.22%	3.11%
EVMO Eaton Vance Mortgage Opportunities ETF	0.38%	3.33%

Returns By Period

In the year-to-date period, LGOV achieves a -0.22% return, which is significantly lower than EVMO's 0.38% return.

LGOV

• 1D: -0.09%
• 1M: -2.88%
• YTD: -0.22%
• 6M: 0.63%
• 1Y: 3.92%
• 3Y*: 2.14%
• 5Y*: -1.23%
• 10Y*: —

EVMO

• 1D: 0.00%
• 1M: -1.11%
• YTD: 0.38%
• 6M: 2.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LGOV vs. EVMO - Expense Ratio Comparison

LGOV has a 0.70% expense ratio, which is higher than EVMO's 0.45% expense ratio.

LGOV

First Trust Long Duration Opportunities ETF

EVMO

Eaton Vance Mortgage Opportunities ETF

Return for Risk

LGOV vs. EVMO — Risk / Return Rank

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

LGOV

LGOV Risk / Return Rank: 26
LGOV Sharpe Ratio Rank: 26
LGOV Sortino Ratio Rank: 24
LGOV Omega Ratio Rank: 22
LGOV Calmar Ratio Rank: 33
LGOV Martin Ratio Rank: 26

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.

LGOV vs. EVMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Long Duration Opportunities ETF (LGOV) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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.

	LGOV	EVMO	Difference
Sharpe ratio Return per unit of total volatility	0.50	—	—
Sortino ratio Return per unit of downside risk	0.74	—	—
Omega ratio Gain probability vs. loss probability	1.09	—	—
Calmar ratio Return relative to maximum drawdown	0.90	—	—
Martin ratio Return relative to average drawdown	2.21	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LGOV	EVMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	2.06	-1.92

Correlation

The correlation between LGOV and EVMO is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

LGOV vs. EVMO - Dividend Comparison

LGOV's dividend yield for the trailing twelve months is around 4.18%, more than EVMO's 3.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
LGOV First Trust Long Duration Opportunities ETF	4.18%	4.02%	4.03%	3.59%	1.97%	2.58%	3.75%	3.01%
EVMO Eaton Vance Mortgage Opportunities ETF	3.17%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

LGOV vs. EVMO - Drawdown Comparison

The maximum LGOV drawdown since its inception was -30.86%, which is greater than EVMO's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for LGOV and EVMO.

Drawdown Indicators

	LGOV	EVMO	Difference
Max Drawdown Largest peak-to-trough decline	-30.86%	-1.89%	-28.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.14%	—	—
Current Drawdown Current decline from peak	-14.98%	-1.26%	-13.72%
Average Drawdown Average peak-to-trough decline	-13.04%	-0.25%	-12.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	—	—

Volatility

Volatility by Period

	LGOV	EVMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	2.78%	+5.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.01%	2.78%	+6.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.26%	2.78%	+6.48%