SHMDX vs. ETN
SHMDX (Virtus Stone Harbor Emerging Mkts Debt) is Emerging Markets Bonds fund managed by Stone Harbor, while ETN (Eaton Corporation plc) is a stock. Over the past 10 years, SHMDX returned 4.32%/yr vs 24.31%/yr for ETN. At a 0.24 correlation, their price movements are largely independent.
Performance
SHMDX vs. ETN - Performance Comparison
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Returns By Period
In the year-to-date period, SHMDX achieves a 4.39% return, which is significantly lower than ETN's 27.99% return. Over the past 10 years, SHMDX has underperformed ETN with an annualized return of 4.32%, while ETN has yielded a comparatively higher 24.31% annualized return.
SHMDX
- 1D
- -0.25%
- 1M
- 1.84%
- YTD
- 4.39%
- 6M
- 4.65%
- 1Y
- 15.28%
- 3Y*
- 12.87%
- 5Y*
- 3.45%
- 10Y*
- 4.32%
ETN
- 1D
- -7.00%
- 1M
- 3.56%
- YTD
- 27.99%
- 6M
- 26.29%
- 1Y
- 23.13%
- 3Y*
- 29.40%
- 5Y*
- 24.68%
- 10Y*
- 24.31%
SHMDX vs. ETN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHMDX Virtus Stone Harbor Emerging Mkts Debt | 4.39% | 15.13% | 8.90% | 14.81% | -19.74% | -2.52% | 7.06% | 15.20% | -7.86% | 11.58% |
ETN Eaton Corporation plc | 27.99% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
Correlation
The correlation between SHMDX and ETN is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.24 |
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Return for Risk
SHMDX vs. ETN — Risk / Return Rank
SHMDX
ETN
SHMDX vs. ETN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Stone Harbor Emerging Mkts Debt (SHMDX) and Eaton Corporation plc (ETN). 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.
| SHMDX | ETN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.63 | ||
| Sortino ratioReturn per unit of downside risk | +4.38 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.14 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 1.21 | +2.37 |
| Martin ratioReturn relative to average drawdown | 15.82 | 2.61 | +13.21 |
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Drawdowns
SHMDX vs. ETN - Drawdown Comparison
The maximum SHMDX drawdown since its inception was -35.83%, smaller than the maximum ETN drawdown of -68.95%. Use the drawdown chart below to compare losses from any high point for SHMDX and ETN.
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Drawdown Indicators
| SHMDX | ETN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.83% | -68.95% | +33.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | -19.14% | +14.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.23% | -34.46% | +28.23% |
Max Drawdown (5Y)Largest decline over 5 years | -31.98% | -34.46% | +2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -31.98% | -44.55% | +12.57% |
Current DrawdownCurrent decline from peak | -0.55% | -7.00% | +6.45% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -14.89% | +8.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 8.89% | -7.91% |
Volatility
SHMDX vs. ETN - Volatility Comparison
The current volatility for Virtus Stone Harbor Emerging Mkts Debt (SHMDX) is 1.27%, while Eaton Corporation plc (ETN) has a volatility of 15.38%. This indicates that SHMDX experiences smaller price fluctuations and is considered to be less risky than ETN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHMDX | ETN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 15.38% | -14.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.94% | 27.40% | -23.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 34.23% | -29.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.95% | 30.47% | -23.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.60% | 30.15% | -22.55% |
Dividends
SHMDX vs. ETN - Dividend Comparison
SHMDX's dividend yield for the trailing twelve months is around 6.20%, more than ETN's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.06% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
SHMDX Virtus Stone Harbor Emerging Mkts Debt | 6.20% | 6.21% | 6.73% | 8.10% | 10.70% | 4.78% | 5.24% | 5.51% | 6.80% | 6.12% | 6.72% | 6.65% |
Frequently Asked Questions
SHMDX and ETN have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETN has higher volatility (15.38%) compared to SHMDX (1.27%). In terms of maximum drawdown, SHMDX dropped -35.83% vs ETN's -68.95%.
SHMDX currently has the higher Sharpe Ratio (3.31 vs 0.68), 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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