TRPA vs. EVMO

Last updated Jun 4, 2026

TRPA (Hartford AAA CLO ETF) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both exchange-traded funds - TRPA is a CLO fund actively managed by Hartford, while EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance. Both are actively managed. At a correlation of -0.13, they often move in opposite directions. TRPA charges 0.24%/yr vs 0.45%/yr for EVMO.

Performance

TRPA vs. EVMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford AAA CLO ETF (TRPA) and Eaton Vance Mortgage Opportunities ETF (EVMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRPA achieves a 1.90% return, which is significantly higher than EVMO's 0.73% return.

TRPA

• 1D: -0.01%
• 1M: 0.42%
• YTD: 1.90%
• 6M: 2.43%
• 1Y: 5.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVMO

• 1D: -0.25%
• 1M: 0.14%
• YTD: 0.73%
• 6M: 0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRPA vs. EVMO - Yearly Performance Comparison

	2026 (YTD)	2025
TRPA Hartford AAA CLO ETF	1.90%	1.96%
EVMO Eaton Vance Mortgage Opportunities ETF	0.73%	3.33%

Correlation

The correlation between TRPA and EVMO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	-0.13

Return for Risk

TRPA vs. EVMO — Risk / Return Rank

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

TRPA

TRPA Risk / Return Rank: 84
TRPA Sharpe Ratio Rank: 70
TRPA Sortino Ratio Rank: 83
TRPA Omega Ratio Rank: 78
TRPA Calmar Ratio Rank: 96
TRPA Martin Ratio Rank: 96

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.

TRPA vs. EVMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford AAA CLO ETF (TRPA) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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.

	TRPA	EVMO	Difference
Sharpe ratio Return per unit of total volatility	2.26	—	—
Sortino ratio Return per unit of downside risk	3.67	—	—
Omega ratio Gain probability vs. loss probability	1.46	—	—
Calmar ratio Return relative to maximum drawdown	8.66	—	—
Martin ratio Return relative to average drawdown	35.17	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TRPA	EVMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.55	1.76	+0.79

Drawdowns

TRPA vs. EVMO - Drawdown Comparison

The maximum TRPA drawdown since its inception was -0.61%, smaller than the maximum EVMO drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for TRPA and EVMO.

Drawdown Indicators

	TRPA	EVMO	Difference
Max Drawdown Largest peak-to-trough decline	-0.61%	-1.89%	+1.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	—	—
Current Drawdown Current decline from peak	-0.05%	-0.91%	+0.86%
Average Drawdown Average peak-to-trough decline	-0.10%	-0.38%	+0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	—	—

Volatility

Volatility by Period

	TRPA	EVMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.34%	2.83%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.38%	2.83%	-0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.38%	2.83%	-0.45%

TRPA vs. EVMO - Expense Ratio Comparison

TRPA has a 0.24% expense ratio, which is lower than EVMO's 0.45% expense ratio.

Dividends

TRPA vs. EVMO - Dividend Comparison

TRPA's dividend yield for the trailing twelve months is around 5.19%, more than EVMO's 4.07% yield.

Position	TTM	2025
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%
TRPA Hartford AAA CLO ETF	5.19%	4.14%

Frequently Asked Questions

Can I hold both TRPA and EVMO in my portfolio?

TRPA and EVMO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TRPA or EVMO?

On fees, TRPA is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRPA or EVMO?

TRPA is cheaper with a 0.24% expense ratio, compared with 0.45% for EVMO.

Which ETF pays a higher dividend yield, TRPA or EVMO?

TRPA has the higher dividend yield at 5.19%, compared with 4.07% for EVMO.

What is the main difference between TRPA and EVMO?

TRPA is categorized as CLO, while EVMO is Mortgage Backed Securities. They also come from different issuers: Hartford and Eaton Vance. Their fees differ too: 0.24% for TRPA and 0.45% for EVMO.