XAGG vs. MUSE

Last updated Jun 5, 2026

XAGG (Eaton Vance Income Opportunities ETF) and MUSE (TCW Multisector Credit Income ETF) are both Multisector Bonds funds. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. XAGG charges 0.50%/yr vs 0.56%/yr for MUSE.

Performance

XAGG vs. MUSE - Performance Comparison

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

Returns By Period

In the year-to-date period, XAGG achieves a 2.05% return, which is significantly lower than MUSE's 2.34% return.

XAGG

• 1D: 0.12%
• 1M: 0.42%
• YTD: 2.05%
• 6M: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUSE

• 1D: 0.04%
• 1M: 0.90%
• YTD: 2.34%
• 6M: 2.84%
• 1Y: 8.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XAGG vs. MUSE - Yearly Performance Comparison

	2026 (YTD)	2025
XAGG Eaton Vance Income Opportunities ETF	2.05%	1.61%
MUSE TCW Multisector Credit Income ETF	2.34%	0.86%

Correlation

The correlation between XAGG and MUSE 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 11, 2025	0.43

Return for Risk

XAGG vs. MUSE — Risk / Return Rank

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

MUSE

MUSE Risk / Return Rank: 81
MUSE Sharpe Ratio Rank: 88
MUSE Sortino Ratio Rank: 93
MUSE Omega Ratio Rank: 94
MUSE Calmar Ratio Rank: 65
MUSE Martin Ratio Rank: 65

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. MUSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Income Opportunities ETF (XAGG) and TCW Multisector Credit Income ETF (MUSE). 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.

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

Sharpe Ratios by Period

	XAGG	MUSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.94	1.86	+0.08

Drawdowns

XAGG vs. MUSE - Drawdown Comparison

The maximum XAGG drawdown since its inception was -2.88%, smaller than the maximum MUSE drawdown of -3.63%. Use the drawdown chart below to compare losses from any high point for XAGG and MUSE.

Drawdown Indicators

	XAGG	MUSE	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-3.63%	+0.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.54%	—
Current Drawdown Current decline from peak	-0.37%	-0.06%	-0.31%
Average Drawdown Average peak-to-trough decline	-0.57%	-0.42%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	XAGG	MUSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	2.81%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.47%	3.86%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.47%	3.86%	-0.39%

XAGG vs. MUSE - Expense Ratio Comparison

XAGG has a 0.50% expense ratio, which is lower than MUSE's 0.56% expense ratio.

Dividends

XAGG vs. MUSE - Dividend Comparison

XAGG's dividend yield for the trailing twelve months is around 3.86%, less than MUSE's 7.70% yield.

Position	TTM	2025	2024
MUSE TCW Multisector Credit Income ETF	7.70%	7.35%	0.75%
XAGG Eaton Vance Income Opportunities ETF	3.86%	1.02%	0.00%

Frequently Asked Questions

Can I hold both XAGG and MUSE in my portfolio?

XAGG and MUSE 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 MUSE?

On fees, XAGG is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XAGG or MUSE?

XAGG is cheaper with a 0.50% expense ratio, compared with 0.56% for MUSE.

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

MUSE has the higher dividend yield at 7.70%, compared with 3.86% for XAGG.

What is the main difference between XAGG and MUSE?

They also come from different issuers: Eaton Vance and TCW. Their fees differ too: 0.50% for XAGG and 0.56% for MUSE.