NIE vs. EOS
NIE (Virtus Equity & Convertible Income Fund) and EOS (Eaton Vance Enhanced Equity Income Fund II) are both Derivative Income funds. Both are actively managed. Over the past 10 years, NIE returned 13.71%/yr vs 13.04%/yr for EOS. Their 0.69 correlation means they have sometimes moved together and sometimes differently. NIE charges 1.12%/yr vs 1.09%/yr for EOS.
Performance
NIE vs. EOS - Performance Comparison
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Returns By Period
In the year-to-date period, NIE achieves a 10.15% return, which is significantly higher than EOS's -1.56% return. Both investments have delivered pretty close results over the past 10 years, with NIE having a 13.71% annualized return and EOS not far behind at 13.04%.
NIE
- 1D
- -0.27%
- 1M
- -1.09%
- 6M
- 8.58%
- YTD
- 10.15%
- 1Y
- 21.18%
- 3Y*
- 17.77%
- 5Y*
- 9.66%
- 10Y*
- 13.71%
- ALL TIME*
- 9.51%
EOS
- 1D
- 0.14%
- 1M
- -0.17%
- 6M
- 4.29%
- YTD
- -1.56%
- 1Y
- -0.03%
- 3Y*
- 15.79%
- 5Y*
- 6.75%
- 10Y*
- 13.04%
- ALL TIME*
- 9.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.02M | $2.84M | $2.77M | |
| $1.38M | $1.35M | $1.71M |
NIE vs. EOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NIE Virtus Equity & Convertible Income Fund | 10.15% | 12.15% | 28.64% | 26.71% | -26.73% | 18.89% | 33.78% | 31.09% | -5.69% | 23.68% |
EOS Eaton Vance Enhanced Equity Income Fund II | -1.56% | 5.77% | 38.69% | 22.59% | -26.50% | 20.30% | 29.45% | 30.32% | 2.77% | 27.89% |
Correlation
The correlation between NIE and EOS is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2007 | 0.69 |
The correlation between NIE and EOS has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
NIE vs. EOS — Risk / Return Rank
NIE
EOS
NIE vs. EOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Equity & Convertible Income Fund (NIE) and Eaton Vance Enhanced Equity Income Fund II (EOS). 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.
| NIE | EOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.01 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | -0.00 | +2.37 |
| Martin ratioReturn relative to average drawdown | 9.18 | -0.01 | +9.18 |
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Drawdowns
NIE vs. EOS - Drawdown Comparison
The maximum NIE drawdown since its inception was -57.90%, roughly equal to the maximum EOS drawdown of -55.74%. Use the drawdown chart below to compare losses from any high point for NIE and EOS.
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Drawdown Indicators
| NIE | EOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.90% | -55.74% | -2.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.99% | -17.12% | +8.13% |
Max Drawdown (3Y)Largest decline over 3 years | -20.79% | -24.31% | +3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -31.04% | -34.32% | +3.28% |
Max Drawdown (10Y)Largest decline over 10 years | -38.99% | -41.12% | +2.13% |
Current DrawdownCurrent decline from peak | -2.08% | -3.82% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -7.80% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 5.68% | -3.37% |
Volatility
NIE vs. EOS - Volatility Comparison
The current volatility for Virtus Equity & Convertible Income Fund (NIE) is 3.77%, while Eaton Vance Enhanced Equity Income Fund II (EOS) has a volatility of 4.81%. This indicates that NIE experiences smaller price fluctuations and is considered to be less risky than EOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIE | EOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 4.81% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.51% | 12.70% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.59% | 15.84% | -3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.68% | 19.85% | -2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.81% | 20.77% | -0.96% |
NIE vs. EOS - Expense Ratio Comparison
NIE has a 1.12% expense ratio, which is higher than EOS's 1.09% expense ratio.
Dividends
NIE vs. EOS - Dividend Comparison
NIE's dividend yield for the trailing twelve months is around 9.91%, more than EOS's 8.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EOS Eaton Vance Enhanced Equity Income Fund II | 8.32% | 7.81% | 7.17% | 7.38% | 9.69% | 5.60% | 5.01% | 6.65% | 7.16% | 6.90% | 8.20% | 7.70% |
NIE Virtus Equity & Convertible Income Fund | 9.91% | 10.14% | 8.11% | 9.56% | 21.81% | 10.86% | 5.37% | 6.71% | 8.20% | 7.19% | 8.25% | 8.46% |
Frequently Asked Questions
NIE and EOS have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EOS has higher volatility (4.81%) compared to NIE (3.77%). In terms of maximum drawdown, NIE dropped -57.90% vs EOS's -55.74%.
NIE currently has the higher Sharpe Ratio (1.69 vs -0.00), 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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