LONZ vs. EVMO

Last updated Jun 4, 2026

LONZ (PIMCO Senior Loan Active Exchange-Traded Fund) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both exchange-traded funds - LONZ is a Bank Loan fund actively managed by PIMCO, while EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance. Both are actively managed. At a 0.14 correlation, their price movements are largely independent. LONZ charges 0.62%/yr vs 0.45%/yr for EVMO.

Performance

LONZ vs. EVMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) and Eaton Vance Mortgage Opportunities ETF (EVMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LONZ achieves a 1.79% return, which is significantly higher than EVMO's 0.73% return.

LONZ

• 1D: -0.05%
• 1M: 0.43%
• YTD: 1.79%
• 6M: 1.74%
• 1Y: 5.52%
• 3Y*: 8.28%
• 5Y*: —
• 10Y*: —

EVMO

• 1D: -0.25%
• 1M: 0.14%
• YTD: 0.73%
• 6M: 0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LONZ vs. EVMO - Yearly Performance Comparison

	2026 (YTD)	2025
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	1.79%	2.32%
EVMO Eaton Vance Mortgage Opportunities ETF	0.73%	3.33%

Correlation

The correlation between LONZ and EVMO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.14

Return for Risk

LONZ vs. EVMO — Risk / Return Rank

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

LONZ

LONZ Risk / Return Rank: 72
LONZ Sharpe Ratio Rank: 75
LONZ Sortino Ratio Rank: 76
LONZ Omega Ratio Rank: 90
LONZ Calmar Ratio Rank: 55
LONZ Martin Ratio Rank: 62

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.

LONZ vs. EVMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) 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.

	LONZ	EVMO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	—	—
Sortino ratio: Return per unit of downside risk	3.42	—	—
Omega ratio: Gain probability vs. loss probability	1.59	—	—
Calmar ratio: Return relative to maximum drawdown	2.73	—	—
Martin ratio: Return relative to average drawdown	11.31	—	—
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

	LONZ	EVMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.34	1.76	+0.59

Drawdowns

LONZ vs. EVMO - Drawdown Comparison

The maximum LONZ drawdown since its inception was -4.19%, which is greater than EVMO's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for LONZ and EVMO.

Drawdown Indicators

	LONZ	EVMO	Difference
Max Drawdown Largest peak-to-trough decline	-4.19%	-1.89%	-2.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.03%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.19%	—	—
Current Drawdown Current decline from peak	-0.05%	-0.91%	+0.86%
Average Drawdown Average peak-to-trough decline	-0.47%	-0.38%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	—	—

Volatility

Volatility by Period

	LONZ	EVMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.26%	2.83%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.21%	2.83%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.21%	2.83%	+0.38%

LONZ vs. EVMO - Expense Ratio Comparison

LONZ has a 0.62% expense ratio, which is higher than EVMO's 0.45% expense ratio.

Dividends

LONZ vs. EVMO - Dividend Comparison

LONZ's dividend yield for the trailing twelve months is around 8.14%, more than EVMO's 4.07% yield.

Position	TTM	2025	2024	2023	2022
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%	0.00%	0.00%	0.00%
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	8.14%	6.60%	8.16%	8.29%	3.33%

Frequently Asked Questions

Can I hold both LONZ and EVMO in my portfolio?

LONZ and EVMO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LONZ or EVMO?

On fees, EVMO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LONZ or EVMO?

EVMO is cheaper with a 0.45% expense ratio, compared with 0.62% for LONZ.

Which ETF pays a higher dividend yield, LONZ or EVMO?

LONZ has the higher dividend yield at 8.14%, compared with 4.07% for EVMO.

What is the main difference between LONZ and EVMO?

LONZ is categorized as Bank Loan, while EVMO is Mortgage Backed Securities. They also come from different issuers: PIMCO and Eaton Vance. Their fees differ too: 0.62% for LONZ and 0.45% for EVMO.