ELCV vs ETW
Eventide High Dividend ETF vs Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund
Quick Verdict
ELCV has a lower expense ratio. ELCV delivered stronger 1-year returns. ETW offers more diversification with 291 holdings.
Side-by-Side Comparison
| Metric | ELCV | ETW | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 1.10% | |
| AUM | $262M | $936M | |
| Dividend Yield | 2.15% | 7.47% | |
| Holdings | 47 | 291 | |
| YTD Return | +19.72% | +12.47% | |
| 1Y Return | +25.23% | +21.21% | |
| 3Y Return (annualized) | - | +17.50% | |
| 5Y Return (annualized) | - | +6.48% | |
| Volatility (annualized) | 13.8% | 16.9% | |
| Max Drawdown | -18.4% | -72.8% | |
| Fund Family | Eventide | Eaton Vance | |
| Category | Equity | Alternative | |
| Inception | Sep 30, 2024 | Sep 30, 2005 |
ELCV vs ETW Performance
Eventide High Dividend ETF (ELCV) is a ETF from Eventide and Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance. Over the past year ELCV returned +25.23% while ETW returned +21.21%. Year to date, ELCV is up 19.72% versus a gain of 12.47% for ETW.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 13.8% for ELCV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for ELCV and -72.8% for ETW. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ELCV charges 0.49% per year while ETW charges 1.10%. On a $10,000 position that is $49 vs $110 annually, a gap of $61 per year that compounds over a long holding period. On income, ELCV currently yields 2.15% against 7.47% for ETW.
Holdings Overlap
ELCV and ETW share 13 holdings out of 292 unique holdings combined, representing a 7.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ELCV or ETW?
ELCV has an expense ratio of 0.49% while ETW charges 1.10%. ELCV is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, ELCV or ETW?
Over the past year ELCV returned +25.23% vs +21.21% for ETW, so ELCV leads on 1-year performance. Over the longest common window we track (2 years), ELCV annualized +15.47% vs -1.06% for ETW. Past performance does not guarantee future results.
Which is riskier, ELCV or ETW?
ETW has been the more volatile fund at 16.9% annualized versus 13.8% for ELCV. Worst drawdown: ELCV -18.4% vs ETW -72.8%.
Should I hold both ELCV and ETW?
ELCV and ETW have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ELCV and ETW?
ELCV and ETW share 13 common holdings with a 7.7% weight overlap. Combined, they hold 292 unique securities.
Which pays a higher dividend, ELCV or ETW?
ELCV yields 2.15% while ETW yields 7.47%, so ETW currently pays the higher dividend yield.
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