MWCIX vs. EIGMX
MWCIX (Metropolitan West Unconstrained Bond Fund) and EIGMX (Eaton Vance Global Macro Absolute Return Fund) are both Nontraditional Bonds funds. Over the past 10 years, MWCIX returned 2.84%/yr vs 4.97%/yr for EIGMX. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.76% expense ratio.
Performance
MWCIX vs. EIGMX - Performance Comparison
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Returns By Period
In the year-to-date period, MWCIX achieves a 1.12% return, which is significantly lower than EIGMX's 4.84% return. Over the past 10 years, MWCIX has underperformed EIGMX with an annualized return of 2.84%, while EIGMX has yielded a comparatively higher 4.97% annualized return.
MWCIX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 1.12%
- 6M
- 1.60%
- 1Y
- 5.46%
- 3Y*
- 5.92%
- 5Y*
- 1.98%
- 10Y*
- 2.84%
EIGMX
- 1D
- -0.11%
- 1M
- 0.89%
- YTD
- 4.84%
- 6M
- 5.18%
- 1Y
- 12.09%
- 3Y*
- 9.01%
- 5Y*
- 6.34%
- 10Y*
- 4.97%
MWCIX vs. EIGMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MWCIX Metropolitan West Unconstrained Bond Fund | 1.12% | 7.50% | 5.40% | 6.07% | -9.39% | 0.65% | 4.54% | 6.49% | 1.11% | 3.98% |
EIGMX Eaton Vance Global Macro Absolute Return Fund | 4.84% | 11.37% | 8.69% | 6.99% | -0.47% | 2.19% | 3.59% | 9.76% | -3.29% | 4.29% |
Correlation
The correlation between MWCIX and EIGMX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.05 |
The correlation between MWCIX and EIGMX shifts across timeframes, from 0.02 (10 years) to 0.16 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MWCIX vs. EIGMX — Risk / Return Rank
MWCIX
EIGMX
MWCIX vs. EIGMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Unconstrained Bond Fund (MWCIX) and Eaton Vance Global Macro Absolute Return Fund (EIGMX). 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.
| MWCIX | EIGMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.35 | ||
| Sortino ratioReturn per unit of downside risk | -6.58 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 3.16 | -1.65 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 8.59 | -5.08 |
| Martin ratioReturn relative to average drawdown | 14.53 | 31.14 | -16.61 |
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Drawdowns
MWCIX vs. EIGMX - Drawdown Comparison
The maximum MWCIX drawdown since its inception was -13.00%, which is greater than EIGMX's maximum drawdown of -9.42%. Use the drawdown chart below to compare losses from any high point for MWCIX and EIGMX.
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Drawdown Indicators
| MWCIX | EIGMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.00% | -9.42% | -3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -1.44% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -1.63% | -1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | -7.39% | -5.61% |
Max Drawdown (10Y)Largest decline over 10 years | -13.00% | -9.42% | -3.58% |
Current DrawdownCurrent decline from peak | -0.38% | -0.11% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -1.49% | -0.92% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.40% | -0.01% |
Volatility
MWCIX vs. EIGMX - Volatility Comparison
Metropolitan West Unconstrained Bond Fund (MWCIX) has a higher volatility of 0.86% compared to Eaton Vance Global Macro Absolute Return Fund (EIGMX) at 0.44%. This indicates that MWCIX's price experiences larger fluctuations and is considered to be riskier than EIGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWCIX | EIGMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.44% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 1.64% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 1.88% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 2.61% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.16% | 2.50% | +0.66% |
MWCIX vs. EIGMX - Expense Ratio Comparison
Both MWCIX and EIGMX have an expense ratio of 0.76%.
Dividends
MWCIX vs. EIGMX - Dividend Comparison
MWCIX's dividend yield for the trailing twelve months is around 5.44%, less than EIGMX's 6.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIGMX Eaton Vance Global Macro Absolute Return Fund | 6.63% | 5.72% | 6.16% | 5.79% | 4.78% | 4.18% | 4.37% | 5.44% | 3.72% | 3.42% | 4.02% | 5.54% |
MWCIX Metropolitan West Unconstrained Bond Fund | 5.44% | 5.26% | 5.93% | 4.87% | 3.50% | 3.39% | 3.46% | 3.89% | 3.77% | 2.81% | 3.22% | 2.15% |
Frequently Asked Questions
MWCIX and EIGMX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWCIX has higher volatility (0.86%) compared to EIGMX (0.44%). In terms of maximum drawdown, MWCIX dropped -13.00% vs EIGMX's -9.42%.
EIGMX currently has the higher Sharpe Ratio (6.60 vs 2.25), 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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