XETOX vs. ETY
XETOX (Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - XETOX is a Global Equities fund tracking the MSCI World Index, while ETY is a Derivative Income fund actively managed by Eaton Vance. XETOX is passively managed, while ETY is actively managed. Over the past 10 years, XETOX returned 9.51%/yr vs 12.23%/yr for ETY. Their 0.70 correlation means they have sometimes moved together and sometimes differently. XETOX charges 1.74%/yr vs 1.06%/yr for ETY.
Performance
XETOX vs. ETY - Performance Comparison
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Returns By Period
In the year-to-date period, XETOX achieves a 8.87% return, which is significantly higher than ETY's -1.59% return. Over the past 10 years, XETOX has underperformed ETY with an annualized return of 9.51%, while ETY has yielded a comparatively higher 12.23% annualized return.
XETOX
- 1D
- 2.58%
- 1M
- 0.54%
- 6M
- 4.37%
- YTD
- 8.87%
- 1Y
- 21.40%
- 3Y*
- 15.29%
- 5Y*
- 8.61%
- 10Y*
- 9.51%
- ALL TIME*
- 5.04%
ETY
- 1D
- 1.27%
- 1M
- -0.56%
- 6M
- -1.83%
- YTD
- -1.59%
- 1Y
- 0.54%
- 3Y*
- 13.80%
- 5Y*
- 8.69%
- 10Y*
- 12.23%
- ALL TIME*
- 8.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.58M | $3.53M | $3.55M | |
| $0.00 | $0.00 | $0.00 |
XETOX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XETOX Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund | 8.87% | 21.76% | 10.32% | 24.83% | -22.82% | 26.65% | 15.25% | 36.66% | -19.00% | 13.99% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -1.59% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between XETOX and ETY is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2006 | 0.70 |
The correlation between XETOX and ETY has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
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Return for Risk
XETOX vs. ETY — Risk / Return Rank
XETOX
ETY
XETOX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (XETOX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). 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.
| XETOX | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.00 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | -0.05 | +1.83 |
| Martin ratioReturn relative to average drawdown | 7.66 | -0.17 | +7.82 |
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Drawdowns
XETOX vs. ETY - Drawdown Comparison
The maximum XETOX drawdown since its inception was -68.63%, which is greater than ETY's maximum drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for XETOX and ETY.
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Drawdown Indicators
| XETOX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.63% | -53.06% | -15.57% |
Max Drawdown (1Y)Largest decline over 1 year | -12.44% | -14.40% | +1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -16.69% | -21.28% | +4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -31.51% | -24.06% | -7.45% |
Max Drawdown (10Y)Largest decline over 10 years | -44.35% | -42.46% | -1.89% |
Current DrawdownCurrent decline from peak | -0.16% | -3.76% | +3.60% |
Average DrawdownAverage peak-to-trough decline | -24.48% | -7.56% | -16.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 4.12% | -1.38% |
Volatility
XETOX vs. ETY - Volatility Comparison
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (XETOX) has a higher volatility of 4.20% compared to Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) at 3.61%. This indicates that XETOX's price experiences larger fluctuations and is considered to be riskier than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XETOX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 3.61% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 12.22% | 11.33% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 13.82% | +1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 17.98% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.89% | 19.91% | -0.02% |
XETOX vs. ETY - Expense Ratio Comparison
XETOX has a 1.74% expense ratio, which is higher than ETY's 1.06% expense ratio.
Dividends
XETOX vs. ETY - Dividend Comparison
XETOX's dividend yield for the trailing twelve months is around 1.01%, less than ETY's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.27% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
XETOX Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund | 1.01% | 3.82% | 6.59% | 6.25% | 9.14% | 6.43% | 6.91% | 6.17% | 1.74% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XETOX and ETY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XETOX has higher volatility (4.20%) compared to ETY (3.61%). In terms of maximum drawdown, XETOX dropped -68.63% vs ETY's -53.06%.
XETOX currently has the higher Sharpe Ratio (1.41 vs -0.05), 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.
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