ETB vs VYM
Eaton Vance Tax-Managed Buy-Write Income Fund vs Vanguard High Dividend Yield ETF
Which is better, ETB or VYM?
Multi Alternative against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 39.4%.
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 | ETB | VYM |
|---|---|---|
| Expense Ratio | 1.12% | 0.04%Best |
| AUM | $391M | $81.6B |
| Dividend Yield | 7.49% | 2.24% |
| Holdings | 156 | 613 |
| YTD Return | +8.03% | +14.82%Best |
| 1Y Return | +13.20% | +20.84%Best |
| 3Y Return (annualized) | +14.86% | +18.64%Best |
| 5Y Return (annualized) | +7.65% | +12.28%Best |
| Volatility (annualized) | 17.8% | 14.5%Best |
| Max Drawdown | -59.4% | -58.8%Best |
| $10,000 over 5 years | $14,457 | $17,845Best |
| Top 10 Weight | 39.4% | 25.9%Best |
| Fund Family | Eaton Vance | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Apr 27, 2005 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 4, 2026 (19.8 years).
ETB vs VYM 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 19.8 years both funds cover.
ETB vs VYM Performance
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is an ETF from Eaton Vance and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year ETB returned +13.20% while VYM returned +20.84%. Year to date, ETB is up 8.03% versus a gain of 14.82% for VYM.
Over three years, ETB compounded at +14.86% per year against +18.64% for VYM; over five years the annualized figures are +7.65% and +12.28% respectively. Across the full 20-year window we track, VYM has the edge at +7.00% annualized vs +1.21%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETB has been the more volatile fund, with annualized monthly volatility of 17.8% compared with 14.5% for VYM. 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 -59.4% for ETB and -58.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ETB charges 1.12% per year while VYM charges 0.04%. On a $10,000 position that is $112 vs $4 annually, a gap of $108 per year that compounds over a long holding period. On income, ETB currently yields 7.49% against 2.24% for VYM.
Holdings Overlap
38.7% of ETB's money is in holdings VYM also owns. 47.1% of VYM's money is in holdings ETB also owns.
The two portfolios partly overlap.
The two holdings books were reported 91 days apart, ETB as of Mar 31, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
73 positions in common, counted across the 145 positions we hold weights for in ETB and 603 in VYM, against full books of 156 and 613.
What only one of them owns
Our book lists 497 positions for VYM that do not appear in our book for ETB (50.3% of the fund), and 67 for ETB that do not appear in VYM (59.4%).
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 ETB | Weight in VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 3.00% | 7.29% | 4.29% |
| JPMJpmorgan Chase & Co | 1.91% | 3.38% | 1.47% |
| JNJJohnson & Johnson - Common | 1.17% | 2.54% | 1.37% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.13% | 1.93% | 0.80% |
| XOMExxon Mobil Corp. | 0.68% | 2.36% | 1.68% |
| ABBVAbbvie Inc. | 0.68% | 1.85% | 1.17% |
| CATCaterpillar, Inc. | 0.52% | 2.01% | 1.49% |
| BACBank Of America Corp. | 0.91% | 1.56% | 0.65% |
| HDHome Depot Inc/The | 1.00% | 1.46% | 0.46% |
| UNHUnitedhealth Group Incorporated | 0.75% | 1.56% | 0.81% |
47.1% of VYM is already inside ETB.
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, ETB or VYM?
ETB has an expense ratio of 1.12% while VYM charges 0.04%. VYM is the cheaper option, by $108 a year on a $10,000 investment.
Which performed better, ETB or VYM?
Over the past year ETB returned +13.20% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), ETB annualized +1.21% vs +7.00% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETB or VYM?
ETB has been the more volatile fund at 17.8% annualized versus 14.5% for VYM. Worst drawdown: ETB -59.4% vs VYM -58.8%.
Should I hold both ETB and VYM?
ETB and VYM have a monthly-return correlation of 0.68, 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 ETB and VYM?
47.1% of VYM's money is in holdings ETB also owns. 47.1% of VYM's is in holdings ETB also owns. They hold 73 positions in common, counted across the 145 positions we hold weights for in ETB and 603 in VYM.
Which pays a higher dividend, ETB or VYM?
ETB yields 7.49% while VYM yields 2.24%, so ETB currently pays the higher dividend yield.
Is VYM better than ETB?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 39.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.