ELCV vs FMN
Eventide High Dividend ETF vs Federated Hermes Premier Municipal Income Fund
Quick Verdict
ELCV has a lower expense ratio. ELCV delivered stronger 1-year returns. FMN offers more diversification with 150 holdings.
Side-by-Side Comparison
| Metric | ELCV | FMN | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.75% | |
| AUM | $262M | $16M | |
| Dividend Yield | 2.15% | 4.43% | |
| Holdings | 47 | 150 | |
| YTD Return | +19.57% | +1.66% | |
| 1Y Return | +25.61% | +8.44% | |
| 3Y Return (annualized) | - | +7.15% | |
| 5Y Return (annualized) | - | -3.05% | |
| Volatility (annualized) | 13.8% | 14.7% | |
| Max Drawdown | -18.4% | -53.4% | |
| Fund Family | Eventide | Federated Hermes | |
| Category | Equity | Tax Preferred | |
| Inception | Sep 30, 2024 | Dec 20, 2002 |
ELCV vs FMN Performance
Eventide High Dividend ETF (ELCV) is a ETF from Eventide and Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes. Over the past year ELCV returned +25.61% while FMN returned +8.44%. Year to date, ELCV is up 19.57% versus a gain of 1.66% for FMN.
Risk: Volatility and Drawdowns
FMN has been the more volatile fund, with annualized monthly volatility of 14.7% 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 -53.4% for FMN. 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ELCV charges 0.49% per year while FMN charges 0.75%. On a $10,000 position that is $49 vs $75 annually, a gap of $26 per year that compounds over a long holding period. On income, ELCV currently yields 2.15% against 4.43% for FMN.
Holdings Overlap
ELCV and FMN share 0 holdings out of 131 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ELCV or FMN?
ELCV has an expense ratio of 0.49% while FMN charges 0.75%. ELCV is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, ELCV or FMN?
Over the past year ELCV returned +25.61% vs +8.44% for FMN, so ELCV leads on 1-year performance. Over the longest common window we track (2 years), ELCV annualized +15.37% vs -0.28% for FMN. Past performance does not guarantee future results.
Which is riskier, ELCV or FMN?
FMN has been the more volatile fund at 14.7% annualized versus 13.8% for ELCV. Worst drawdown: ELCV -18.4% vs FMN -53.4%.
Should I hold both ELCV and FMN?
ELCV and FMN have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ELCV and FMN?
ELCV and FMN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 131 unique securities.
Which pays a higher dividend, ELCV or FMN?
ELCV yields 2.15% while FMN yields 4.43%, so FMN currently pays the higher dividend yield.
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