VLO vs. ETV

Last updated Jun 20, 2026

VLO (Valero Energy Corporation) and ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) are both stocks. VLO operates in Oil & Gas Refining & Marketing (Energy), while ETV operates in Asset Management (Financial Services). Over the past 10 years, VLO returned 20.94%/yr vs 9.42%/yr for ETV. At a 0.34 correlation, their price movements are largely independent.

Performance

VLO vs. ETV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Valero Energy Corporation (VLO) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLO achieves a 46.74% return, which is significantly higher than ETV's 8.19% return. Over the past 10 years, VLO has outperformed ETV with an annualized return of 20.94%, while ETV has yielded a comparatively lower 9.42% annualized return.

VLO

• 1D: -1.45%
• 1M: -6.44%
• YTD: 46.74%
• 6M: 46.81%
• 1Y: 73.82%
• 3Y*: 31.15%
• 5Y*: 29.68%
• 10Y*: 20.94%

ETV

• 1D: 1.29%
• 1M: 2.81%
• YTD: 8.19%
• 6M: 8.26%
• 1Y: 21.04%
• 3Y*: 15.54%
• 5Y*: 7.27%
• 10Y*: 9.42%

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

VLO vs. ETV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLO Valero Energy Corporation	46.74%	36.97%	-2.96%	5.86%	74.95%	40.25%	-35.69%	30.27%	-15.73%	38.66%
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	8.19%	8.63%	27.67%	9.94%	-19.73%	18.41%	13.03%	21.25%	-4.29%	12.98%

Correlation

The correlation between VLO and ETV is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 28, 2005	0.34

The correlation between VLO and ETV shifts across timeframes, from -0.06 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap VLO : $70.42B ETV : $1.74B
EPS VLO : $13.77 ETV : $4.95
PE Ratio VLO : 17.16 ETV : 3.01
PEG Ratio VLO : 0.06 ETV : 0.10
PS Ratio VLO : 0.57 ETV : 5.73
PB Ratio VLO : 2.61 ETV : 0.95
Total Revenue (TTM) VLO : $126.17B ETV : $303.84M
Gross Profit (TTM) VLO : $12.45B ETV : $149.51M
EBITDA (TTM) VLO : $9.02B ETV : $578.17M

Return for Risk

VLO vs. ETV — Risk / Return Rank

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

VLO

VLO Risk / Return Rank: 89
VLO Sharpe Ratio Rank: 90
VLO Sortino Ratio Rank: 86
VLO Omega Ratio Rank: 85
VLO Calmar Ratio Rank: 93
VLO Martin Ratio Rank: 92

ETV

ETV Risk / Return Rank: 83
ETV Sharpe Ratio Rank: 85
ETV Sortino Ratio Rank: 82
ETV Omega Ratio Rank: 81
ETV Calmar Ratio Rank: 76
ETV Martin Ratio Rank: 89

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.

VLO vs. ETV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Valero Energy Corporation (VLO) 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.

	VLO	ETV	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.70	+0.42
Sortino ratio: Return per unit of downside risk	2.74	2.42	+0.32
Omega ratio: Gain probability vs. loss probability	1.34	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	5.23	2.04	+3.19
Martin ratio: Return relative to average drawdown	12.85	10.40	+2.45

VLO vs. ETV - Sharpe Ratio Comparison

The current VLO Sharpe Ratio is 2.12, which is comparable to the ETV Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of VLO and ETV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VLO vs. ETV - Drawdown Comparison

The maximum VLO drawdown since its inception was -87.50%, which is greater than ETV's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for VLO and ETV.

Drawdown Indicators

	VLO	ETV	Difference
Max Drawdown Largest peak-to-trough decline	-87.50%	-52.11%	-35.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.19%	-10.34%	-3.85%
Max Drawdown (3Y) Largest decline over 3 years	-41.22%	-20.27%	-20.95%
Max Drawdown (5Y) Largest decline over 5 years	-41.22%	-22.71%	-18.51%
Max Drawdown (10Y) Largest decline over 10 years	-71.88%	-42.39%	-29.49%
Current Drawdown Current decline from peak	-9.62%	0.00%	-9.62%
Average Drawdown Average peak-to-trough decline	-34.24%	-5.57%	-28.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.76%	2.03%	+3.73%

Volatility

VLO vs. ETV - Volatility Comparison

Valero Energy Corporation (VLO) has a higher volatility of 10.17% compared to Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) at 3.62%. This indicates that VLO's price experiences larger fluctuations and is considered to be riskier than ETV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLO	ETV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.17%	3.62%	+6.55%
Volatility (6M) Calculated over the trailing 6-month period	27.59%	10.25%	+17.34%
Volatility (1Y) Calculated over the trailing 1-year period	35.09%	12.46%	+22.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.94%	16.90%	+20.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.39%	19.29%	+21.10%

Dividends

VLO vs. ETV - Dividend Comparison

VLO's dividend yield for the trailing twelve months is around 1.97%, less than ETV's 7.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	7.99%	8.30%	8.18%	9.24%	10.57%	7.94%	8.66%	8.89%	9.86%	8.65%	8.96%	8.69%
VLO Valero Energy Corporation	1.97%	2.78%	3.49%	3.14%	3.09%	5.22%	6.93%	3.84%	4.27%	2.34%	3.51%	2.40%

Financials

Frequently Asked Questions

Can I hold both VLO and ETV in my portfolio?

VLO and ETV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLO or ETV?

VLO has higher volatility (10.17%) compared to ETV (3.62%). In terms of maximum drawdown, VLO dropped -87.50% vs ETV's -52.11%.

Which has better risk-adjusted returns?

VLO currently has the higher Sharpe Ratio (2.12 vs 1.70), 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.