PMTGX vs. ETV
PMTGX (PIA MBS Bond Fund) is Government Bonds fund managed by PIA Mutual Funds, while ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) is a stock. Over the past 10 years, PMTGX returned 1.14%/yr vs 9.47%/yr for ETV. At a correlation of -0.04, they often move in opposite directions.
Performance
PMTGX vs. ETV - Performance Comparison
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Returns By Period
In the year-to-date period, PMTGX achieves a 0.06% return, which is significantly lower than ETV's 7.17% return. Over the past 10 years, PMTGX has underperformed ETV with an annualized return of 1.14%, while ETV has yielded a comparatively higher 9.47% annualized return.
PMTGX
- 1D
- -0.36%
- 1M
- 0.79%
- YTD
- 0.06%
- 6M
- 0.23%
- 1Y
- 4.78%
- 3Y*
- 3.74%
- 5Y*
- 0.21%
- 10Y*
- 1.14%
ETV
- 1D
- -0.20%
- 1M
- 2.06%
- YTD
- 7.17%
- 6M
- 5.85%
- 1Y
- 18.84%
- 3Y*
- 15.44%
- 5Y*
- 7.13%
- 10Y*
- 9.47%
PMTGX vs. ETV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMTGX PIA MBS Bond Fund | 0.06% | 7.83% | 0.96% | 4.73% | -11.37% | -1.18% | 3.85% | 6.02% | 0.76% | 2.35% |
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 7.17% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
Correlation
The correlation between PMTGX and ETV is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2006 | -0.04 |
The correlation between PMTGX and ETV shifts across timeframes, from -0.04 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PMTGX vs. ETV — Risk / Return Rank
PMTGX
ETV
PMTGX vs. ETV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA MBS Bond Fund (PMTGX) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). 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.
| PMTGX | ETV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.83 | -0.42 |
| Martin ratioReturn relative to average drawdown | 4.22 | 9.31 | -5.08 |
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Drawdowns
PMTGX vs. ETV - Drawdown Comparison
The maximum PMTGX drawdown since its inception was -17.09%, smaller than the maximum ETV drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for PMTGX and ETV.
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Drawdown Indicators
| PMTGX | ETV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -52.11% | +35.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.68% | -10.34% | +6.66% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -20.27% | +12.61% |
Max Drawdown (5Y)Largest decline over 5 years | -16.86% | -22.71% | +5.85% |
Max Drawdown (10Y)Largest decline over 10 years | -17.09% | -42.39% | +25.30% |
Current DrawdownCurrent decline from peak | -2.09% | -0.94% | -1.15% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -5.57% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 2.03% | -0.81% |
Volatility
PMTGX vs. ETV - Volatility Comparison
The current volatility for PIA MBS Bond Fund (PMTGX) is 1.15%, while Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) has a volatility of 3.20%. This indicates that PMTGX experiences smaller price fluctuations and is considered to be less risky than ETV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMTGX | ETV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 3.20% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 10.17% | -6.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 12.49% | -8.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.30% | 16.91% | -10.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 19.30% | -14.52% |
Dividends
PMTGX vs. ETV - Dividend Comparison
PMTGX's dividend yield for the trailing twelve months is around 3.73%, less than ETV's 8.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.07% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
PMTGX PIA MBS Bond Fund | 3.73% | 4.10% | 4.16% | 3.48% | 2.17% | 0.79% | 2.12% | 2.96% | 2.76% | 2.75% | 2.96% | 2.79% |
Frequently Asked Questions
PMTGX and ETV have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETV has higher volatility (3.20%) compared to PMTGX (1.15%). In terms of maximum drawdown, PMTGX dropped -17.09% vs ETV's -52.11%.
ETV currently has the higher Sharpe Ratio (1.52 vs 1.20), 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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