XAGG vs. EVYM

Last updated Jul 11, 2026

XAGG (Eaton Vance Income Opportunities ETF) and EVYM (Eaton Vance High Income Municipal ETF) are both exchange-traded funds - XAGG is a Multisector Bonds fund actively managed by Eaton Vance, while EVYM is a High Yield Muni fund actively managed by Eaton Vance. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. XAGG charges 0.50%/yr vs 0.40%/yr for EVYM.

Performance

XAGG vs. EVYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Income Opportunities ETF (XAGG) and Eaton Vance High Income Municipal ETF (EVYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XAGG achieves a 2.53% return, which is significantly lower than EVYM's 4.11% return.

XAGG

• 1D: 0.05%
• 1M: 0.45%
• 6M: 1.69%
• YTD: 2.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVYM

• 1D: -0.12%
• 1M: 0.52%
• 6M: 3.51%
• YTD: 4.11%
• 1Y: 10.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XAGG vs. EVYM - Yearly Performance Comparison

	2026 (YTD)	2025
XAGG Eaton Vance Income Opportunities ETF	2.53%	1.75%
EVYM Eaton Vance High Income Municipal ETF	4.11%	0.62%

Correlation

The correlation between XAGG and EVYM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025	0.43

Return for Risk

XAGG vs. EVYM — Risk / Return Rank

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

XAGG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

EVYM

EVYM Risk / Return Rank: 92
EVYM Sharpe Ratio Rank: 94
EVYM Sortino Ratio Rank: 95
EVYM Omega Ratio Rank: 95
EVYM Calmar Ratio Rank: 84
EVYM Martin Ratio Rank: 90

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.

XAGG vs. EVYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Income Opportunities ETF (XAGG) and Eaton Vance High Income Municipal ETF (EVYM). 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.

	XAGG	EVYM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.76	—
Sortino ratio: Return per unit of downside risk	—	4.22	—
Omega ratio: Gain probability vs. loss probability	—	1.57	—
Calmar ratio: Return relative to maximum drawdown	—	3.68	—
Martin ratio: Return relative to average drawdown	—	16.15	—

Drawdowns

XAGG vs. EVYM - Drawdown Comparison

The maximum XAGG drawdown since its inception was -2.88%, smaller than the maximum EVYM drawdown of -6.08%. Use the drawdown chart below to compare losses from any high point for XAGG and EVYM.

Drawdown Indicators

	XAGG	EVYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-6.08%	+3.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.77%	—
Current Drawdown Current decline from peak	-0.15%	-0.67%	+0.52%
Average Drawdown Average peak-to-trough decline	-0.53%	-1.39%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	XAGG	EVYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	3.69%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.45%	5.92%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.45%	5.92%	-2.47%

XAGG vs. EVYM - Expense Ratio Comparison

XAGG has a 0.50% expense ratio, which is higher than EVYM's 0.40% expense ratio.

Dividends

XAGG vs. EVYM - Dividend Comparison

XAGG's dividend yield for the trailing twelve months is around 4.45%, less than EVYM's 4.81% yield.

Position	TTM	2025
EVYM Eaton Vance High Income Municipal ETF	4.81%	3.72%
XAGG Eaton Vance Income Opportunities ETF	4.45%	1.02%

Frequently Asked Questions

Can I hold both XAGG and EVYM in my portfolio?

XAGG and EVYM have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XAGG or EVYM?

On fees, EVYM is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XAGG or EVYM?

EVYM is cheaper with a 0.40% expense ratio, compared with 0.50% for XAGG.

Which ETF pays a higher dividend yield, XAGG or EVYM?

EVYM has the higher dividend yield at 4.81%, compared with 4.45% for XAGG.

What is the main difference between XAGG and EVYM?

XAGG is categorized as Multisector Bonds, while EVYM is High Yield Muni. Their fees differ too: 0.50% for XAGG and 0.40% for EVYM.