EQTY vs ETY
Kovitz Core Equity ETF vs Eaton Vance Tax-Managed Diversified Equity Income Fund
Which is better, EQTY or ETY?
EQTY has been ahead.
EQTY has a lower expense ratio. EQTY led over 1Y, 3Y and the full window. EQTY is less concentrated, with 42.9% of the fund in its ten largest positions against 49.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EQTY | ETY |
|---|---|---|
| Expense Ratio | 0.99%Best | 1.06% |
| AUM | $1.4B | $1.8B |
| Dividend Yield | 0.02% | 7.58% |
| Holdings | 77 | 57 |
| YTD Return | +12.60%Best | -3.67% |
| 1Y Return | +16.37%Best | -5.28% |
| 3Y Return (annualized) | +19.06%Best | +15.12% |
| 5Y Return (annualized) | - | +6.87% |
| Volatility (annualized) | 12.8%Tie | 12.8%Tie |
| Max Drawdown | -17.3%Best | -21.3% |
| $10,000 over 3.9 years | $18,669Best | $16,285 |
| Top 10 Weight | 42.9%Best | 49.4% |
| Fund Family | Kovitz Investment Group | Eaton Vance |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 28, 2011 | Nov 27, 2006 |
Volatility and max drawdown, and the $10,000 over 3.9 years row, are measured over the window both funds cover: Dec 12, 2022 to Nov 11, 2026 (3.9 years).
EQTY vs ETY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.9 years both funds cover.
EQTY vs ETY Performance
Kovitz Core Equity ETF (EQTY) is an ETF from Kovitz Investment Group and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance. Over the past year EQTY returned +16.37% while ETY returned -5.28%. Year to date, EQTY is up 12.60% versus a loss of 3.67% for ETY.
Over three years, EQTY compounded at +19.06% per year against +15.12% for ETY. Across the full 4-year window we track, EQTY has the edge at +17.36% annualized vs +13.32%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EQTY and ETY have been equally volatile, both at 12.8% annualized.
The deepest peak-to-trough decline in our data was -17.3% for EQTY and -21.3% for ETY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EQTY charges 0.99% per year while ETY charges 1.06%. On a $10,000 position that is $99 vs $106 annually, a gap of $7 per year that compounds over a long holding period. On income, EQTY currently yields 0.02% against 7.58% for ETY.
Holdings Overlap
40.2% of EQTY's money is in holdings ETY also owns. 36.5% of ETY's money is in holdings EQTY also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 37 positions we hold weights for in EQTY and 56 in ETY, against full books of 77 and 57.
What only one of them owns
Our book lists 39 positions for ETY that do not appear in our book for EQTY (59.7% of the fund), and 23 for EQTY that do not appear in ETY (53.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EQTY | Weight in ETY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.24% | 6.74% | 1.50% |
| GOOGAlphabet Inc. C | 3.96% | 6.59% | 2.63% |
| AMZNAmazon.Com Inc | 3.14% | 5.25% | 2.11% |
| VVisa Inc Class A | 4.89% | 2.85% | 2.04% |
| AAPLApple Inc | 1.72% | 5.20% | 3.48% |
| METAMeta Platforms Inc | 3.22% | 2.41% | 0.81% |
| ICEInterContinental Hotels Group PLC Ord Gbp0.208521303 | 4.29% | 1.21% | 3.08% |
| ADIAnalog Devices | 3.97% | 1.25% | 2.72% |
| CARRCarrier Global Corporation | 3.57% | 0.85% | 2.72% |
| NFLXNetflix Inc | 2.59% | 1.02% | 1.57% |
40.2% of EQTY is already inside ETY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EQTY or ETY?
EQTY has an expense ratio of 0.99% while ETY charges 1.06%. EQTY is the cheaper option, by $7 a year on a $10,000 investment.
Which performed better, EQTY or ETY?
Over the past year EQTY returned +16.37% vs -5.28% for ETY, so EQTY leads on 1-year performance. Over the longest common window we track (4 years), EQTY annualized +17.36% vs +13.32% for ETY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EQTY or ETY?
EQTY and ETY have been equally volatile, both at 12.8% annualized. Worst drawdown: EQTY -17.3% vs ETY -21.3%.
Should I hold both EQTY and ETY?
EQTY and ETY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EQTY and ETY?
40.2% of EQTY's money is in holdings ETY also owns. 36.5% of ETY's is in holdings EQTY also owns. They hold 13 positions in common, counted across the 37 positions we hold weights for in EQTY and 56 in ETY.
Which pays a higher dividend, EQTY or ETY?
EQTY yields 0.02% while ETY yields 7.58%, so ETY currently pays the higher dividend yield.
Is ETY better than EQTY?
EQTY has a lower expense ratio. EQTY led over 1Y, 3Y and the full window. EQTY is less concentrated, with 42.9% of the fund in its ten largest positions against 49.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.