SRV vs. ETJ

Last updated Jun 4, 2026

SRV (NXG Cushing® Midstream Energy Fund) and ETJ (Eaton Vance Risk-Managed Diversified Equity Income Fund) are both Global Equity Income funds. Over the past 10 years, SRV returned 11.93%/yr vs 8.26%/yr for ETJ. At a 0.27 correlation, their price movements are largely independent. SRV charges 1.00%/yr vs 0.01%/yr for ETJ.

Performance

SRV vs. ETJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NXG Cushing® Midstream Energy Fund (SRV) and Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRV achieves a 31.93% return, which is significantly higher than ETJ's -0.14% return. Over the past 10 years, SRV has outperformed ETJ with an annualized return of 11.93%, while ETJ has yielded a comparatively lower 8.26% annualized return.

SRV

• 1D: 1.22%
• 1M: -1.06%
• YTD: 31.93%
• 6M: 36.31%
• 1Y: 41.64%
• 3Y*: 30.62%
• 5Y*: 26.15%
• 10Y*: 11.93%

ETJ

• 1D: -0.24%
• 1M: 0.42%
• YTD: -0.14%
• 6M: 0.61%
• 1Y: 4.17%
• 3Y*: 11.63%
• 5Y*: 3.36%
• 10Y*: 8.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SRV vs. ETJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SRV NXG Cushing® Midstream Energy Fund	31.93%	5.05%	50.70%	19.88%	20.11%	50.45%	-41.65%	33.99%	-21.61%	-4.21%
ETJ Eaton Vance Risk-Managed Diversified Equity Income Fund	-0.14%	3.49%	29.55%	14.15%	-22.74%	11.92%	22.31%	26.78%	-7.03%	18.93%

Correlation

The correlation between SRV and ETJ is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Aug 28, 2007	0.27

The correlation between SRV and ETJ shifts across timeframes, from 0.09 (1 year) to 0.28 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SRV vs. ETJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SRV

SRV Risk / Return Rank: 53
SRV Sharpe Ratio Rank: 57
SRV Sortino Ratio Rank: 46
SRV Omega Ratio Rank: 52
SRV Calmar Ratio Rank: 68
SRV Martin Ratio Rank: 44

ETJ

ETJ Risk / Return Rank: 5
ETJ Sharpe Ratio Rank: 5
ETJ Sortino Ratio Rank: 5
ETJ Omega Ratio Rank: 5
ETJ Calmar Ratio Rank: 5
ETJ Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SRV vs. ETJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NXG Cushing® Midstream Energy Fund (SRV) and Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ). 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.

	SRV	ETJ	Difference
Sharpe ratio: Return per unit of total volatility	2.24	0.38	+1.86
Sortino ratio: Return per unit of downside risk	2.83	0.62	+2.20
Omega ratio: Gain probability vs. loss probability	1.39	1.07	+0.32
Calmar ratio: Return relative to maximum drawdown	3.19	0.40	+2.78
Martin ratio: Return relative to average drawdown	9.28	1.60	+7.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SRV vs. ETJ - Sharpe Ratio Comparison

The current SRV Sharpe Ratio is 2.24, which is higher than the ETJ Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of SRV and ETJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SRV	ETJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	0.38	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	0.22	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.46	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.29	-0.30

Drawdowns

SRV vs. ETJ - Drawdown Comparison

The maximum SRV drawdown since its inception was -92.93%, which is greater than ETJ's maximum drawdown of -32.81%. Use the drawdown chart below to compare losses from any high point for SRV and ETJ.

Drawdown Indicators

	SRV	ETJ	Difference
Max Drawdown Largest peak-to-trough decline	-92.93%	-32.81%	-60.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.13%	-10.40%	-2.73%
Max Drawdown (3Y) Largest decline over 3 years	-26.26%	-15.44%	-10.82%
Max Drawdown (5Y) Largest decline over 5 years	-26.26%	-28.55%	+2.29%
Max Drawdown (10Y) Largest decline over 10 years	-81.70%	-32.81%	-48.89%
Current Drawdown Current decline from peak	-7.50%	-2.09%	-5.41%
Average Drawdown Average peak-to-trough decline	-48.51%	-7.52%	-40.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	2.61%	+1.89%

Volatility

SRV vs. ETJ - Volatility Comparison

NXG Cushing® Midstream Energy Fund (SRV) has a higher volatility of 7.55% compared to Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) at 2.91%. This indicates that SRV's price experiences larger fluctuations and is considered to be riskier than ETJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SRV	ETJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	2.91%	+4.64%
Volatility (6M) Calculated over the trailing 6-month period	15.13%	8.86%	+6.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.82%	11.13%	+7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.43%	15.59%	+10.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.29%	17.96%	+20.33%

SRV vs. ETJ - Expense Ratio Comparison

SRV has a 1.00% expense ratio, which is higher than ETJ's 0.01% expense ratio.

Dividends

SRV vs. ETJ - Dividend Comparison

SRV's dividend yield for the trailing twelve months is around 15.39%, more than ETJ's 9.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETJ Eaton Vance Risk-Managed Diversified Equity Income Fund	9.21%	8.86%	8.16%	8.86%	11.68%	8.53%	8.79%	9.77%	11.23%	9.82%	12.46%	10.98%
SRV NXG Cushing® Midstream Energy Fund	15.39%	19.31%	12.85%	15.56%	8.85%	4.72%	12.05%	10.59%	12.73%	9.07%	7.95%	11.01%

Frequently Asked Questions

Can I hold both SRV and ETJ in my portfolio?

SRV and ETJ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SRV or ETJ?

SRV has higher volatility (7.55%) compared to ETJ (2.91%). In terms of maximum drawdown, SRV dropped -92.93% vs ETJ's -32.81%.

Which has better risk-adjusted returns?

SRV currently has the higher Sharpe Ratio (2.24 vs 0.38), 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.