VMBS vs. EVMO
VMBS (Vanguard Mortgage-Backed Securities ETF) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both Mortgage Backed Securities funds. VMBS is passively managed, while EVMO is actively managed. A 0.55 correlation means they provide meaningful diversification when combined. VMBS charges 0.04%/yr vs 0.45%/yr for EVMO.
Performance
VMBS vs. EVMO - Performance Comparison
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Returns By Period
In the year-to-date period, VMBS achieves a 0.70% return, which is significantly lower than EVMO's 0.83% return.
VMBS
- 1D
- 0.04%
- 1M
- 0.18%
- YTD
- 0.70%
- 6M
- 1.11%
- 1Y
- 6.25%
- 3Y*
- 4.63%
- 5Y*
- 0.49%
- 10Y*
- 1.36%
EVMO
- 1D
- 0.10%
- 1M
- 0.18%
- YTD
- 0.83%
- 6M
- 1.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VMBS vs. EVMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VMBS Vanguard Mortgage-Backed Securities ETF | 0.70% | 3.37% |
EVMO Eaton Vance Mortgage Opportunities ETF | 0.83% | 3.33% |
Correlation
The correlation between VMBS and EVMO is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025 | 0.55 |
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Return for Risk
VMBS vs. EVMO — Risk / Return Rank
VMBS
EVMO
VMBS vs. EVMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities ETF (VMBS) 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.
| VMBS | EVMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.26 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | — | — |
| Martin ratioReturn relative to average drawdown | 7.83 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VMBS | EVMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.79 | -1.34 |
Drawdowns
VMBS vs. EVMO - Drawdown Comparison
The maximum VMBS drawdown since its inception was -17.47%, which is greater than EVMO's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for VMBS and EVMO.
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Drawdown Indicators
| VMBS | EVMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.47% | -1.89% | -15.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.47% | — | — |
Current DrawdownCurrent decline from peak | -1.29% | -0.81% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -0.39% | -2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | — | — |
Volatility
VMBS vs. EVMO - Volatility Comparison
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Volatility by Period
| VMBS | EVMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 2.82% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.77% | 2.82% | +3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.40% | 2.82% | +2.58% |
VMBS vs. EVMO - Expense Ratio Comparison
VMBS has a 0.04% expense ratio, which is lower than EVMO's 0.45% expense ratio.
Dividends
VMBS vs. EVMO - Dividend Comparison
VMBS's dividend yield for the trailing twelve months is around 4.18%, more than EVMO's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 4.07% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VMBS Vanguard Mortgage-Backed Securities ETF | 4.18% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
Frequently Asked Questions
VMBS and EVMO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VMBS is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VMBS is cheaper with a 0.04% expense ratio, compared with 0.45% for EVMO.
VMBS has the higher dividend yield at 4.18%, compared with 4.07% for EVMO.
They also come from different issuers: Vanguard and Eaton Vance. Their fees differ too: 0.04% for VMBS and 0.45% for EVMO.
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