PMO vs. EVN
PMO (Putnam Municipal Opportunities Trust) and EVN (Eaton Vance Municipal Income Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, PMO returned 2.26%/yr vs 1.51%/yr for EVN. Their 0.34 correlation means their historical movements had little consistent relationship.
Performance
PMO vs. EVN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PMO achieves a -1.61% return, which is significantly lower than EVN's -0.40% return. Over the past 10 years, PMO has outperformed EVN with an annualized return of 2.26%, while EVN has yielded a comparatively lower 1.51% annualized return.
PMO
- 1D
- 0.10%
- 1M
- -4.09%
- 6M
- -1.75%
- YTD
- -1.61%
- 1Y
- 9.27%
- 3Y*
- 4.78%
- 5Y*
- -2.23%
- 10Y*
- 2.26%
- ALL TIME*
- 4.46%
EVN
- 1D
- -0.58%
- 1M
- -6.81%
- 6M
- -0.86%
- YTD
- -0.40%
- 1Y
- 4.48%
- 3Y*
- 7.27%
- 5Y*
- -1.19%
- 10Y*
- 1.51%
- ALL TIME*
- 4.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $961.94K | $793.78K | $837.03K | |
| $672.73K | $658.41K | $646.85K |
PMO vs. EVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMO Putnam Municipal Opportunities Trust | -1.61% | 10.45% | 3.15% | -1.31% | -20.32% | 10.08% | 9.38% | 23.13% | -4.05% | 8.89% |
EVN Eaton Vance Municipal Income Trust | -0.40% | 12.83% | 8.88% | 4.35% | -25.01% | 7.63% | 9.66% | 18.04% | -3.81% | 4.08% |
Correlation
The correlation between PMO and EVN is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 1999 | 0.34 |
The correlation between PMO and EVN shifts across timeframes, from 0.34 (all time) to 0.51 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
PMO:
$280.46M
EVN:
$413.83M
PMO:
$1.47
EVN:
$0.89
PMO:
6.98
EVN:
11.67
PMO:
0.05
EVN:
207.66
PMO:
10.14
EVN:
8.30
PMO:
0.90
EVN:
0.96
PMO:
$27.64M
EVN:
$49.72M
PMO:
$24.85M
EVN:
$48.68M
PMO:
$41.22M
EVN:
$79.85M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PMO vs. EVN — Risk / Return Rank
PMO
EVN
PMO vs. EVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Municipal Opportunities Trust (PMO) and Eaton Vance Municipal Income Trust (EVN). 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.
| PMO | EVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.09 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 0.62 | +0.75 |
| Martin ratioReturn relative to average drawdown | 4.25 | 1.95 | +2.31 |
Loading charts...
Drawdowns
PMO vs. EVN - Drawdown Comparison
The maximum PMO drawdown since its inception was -36.46%, smaller than the maximum EVN drawdown of -56.87%. Use the drawdown chart below to compare losses from any high point for PMO and EVN.
Loading charts...
Drawdown Indicators
| PMO | EVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.46% | -56.87% | +20.41% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -8.59% | +1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -13.72% | -10.79% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -36.46% | -32.84% | -3.62% |
Max Drawdown (10Y)Largest decline over 10 years | -36.46% | -32.84% | -3.62% |
Current DrawdownCurrent decline from peak | -14.71% | -7.48% | -7.23% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -9.40% | +1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 2.72% | -0.41% |
Volatility
PMO vs. EVN - Volatility Comparison
The current volatility for Putnam Municipal Opportunities Trust (PMO) is 2.44%, while Eaton Vance Municipal Income Trust (EVN) has a volatility of 2.65%. This indicates that PMO experiences smaller price fluctuations and is considered to be less risky than EVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PMO | EVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 2.65% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.20% | 8.09% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 10.96% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.09% | 11.95% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.25% | 12.86% | +1.39% |
Dividends
PMO vs. EVN - Dividend Comparison
PMO's dividend yield for the trailing twelve months is around 4.86%, less than EVN's 5.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVN Eaton Vance Municipal Income Trust | 5.93% | 5.72% | 5.78% | 4.80% | 5.60% | 4.14% | 4.20% | 4.46% | 5.50% | 5.37% | 6.06% | 6.46% |
PMO Putnam Municipal Opportunities Trust | 4.86% | 4.25% | 4.15% | 4.64% | 5.87% | 4.42% | 4.65% | 4.85% | 5.55% | 5.26% | 5.89% | 5.81% |
Financials
PMO vs. EVN - Financials Comparison
This section allows you to compare key financial metrics between Putnam Municipal Opportunities Trust and Eaton Vance Municipal Income Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PMO vs. EVN - Profitability Comparison
PMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Putnam Municipal Opportunities Trust reported a gross profit of 8.52M and revenue of 9.73M. Therefore, the gross margin over that period was 87.5%.
EVN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Eaton Vance Municipal Income Trust reported a gross profit of 14.04M and revenue of 16.10M. Therefore, the gross margin over that period was 87.2%.
PMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Putnam Municipal Opportunities Trust reported an operating income of 7.68M and revenue of 9.73M, resulting in an operating margin of 78.9%.
EVN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Eaton Vance Municipal Income Trust reported an operating income of 12.59M and revenue of 16.10M, resulting in an operating margin of 78.2%.
PMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Putnam Municipal Opportunities Trust reported a net income of 7.39M and revenue of 9.73M, resulting in a net margin of 75.9%.
EVN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Eaton Vance Municipal Income Trust reported a net income of 9.60M and revenue of 16.10M, resulting in a net margin of 59.6%.
Frequently Asked Questions
PMO and EVN have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVN has higher volatility (2.65%) compared to PMO (2.44%). In terms of maximum drawdown, PMO dropped -36.46% vs EVN's -56.87%.
PMO currently has the higher Sharpe Ratio (1.07 vs 0.48), 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.
Find the right allocation for PMO and EVN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer