ETV vs VTI
Eaton Vance Tax-Managed Buy-Write Opportunities Fund vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | ETV | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.08% | 0.03% | |
| AUM | $1.3B | $663.5B | |
| Dividend Yield | 7.53% | 1.07% | |
| Holdings | 174 | 3,543 | |
| YTD Return | +10.89% | +14.22% | |
| 1Y Return | +17.06% | +22.19% | |
| 3Y Return (annualized) | +14.23% | +21.27% | |
| 5Y Return (annualized) | +6.87% | +12.23% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -59.8% | -56.6% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 27, 2005 | May 24, 2001 |
ETV vs VTI Performance
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is a ETF from Eaton Vance and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year ETV returned +17.06% while VTI returned +22.19%. Year to date, ETV is up 10.89% versus a gain of 14.22% for VTI.
Over three years, ETV compounded at +14.23% per year against +21.27% for VTI; over five years the annualized figures are +6.87% and +12.23% respectively. Across the full 21-year window we track, VTI has the edge at +8.14% annualized vs +0.92%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.3% for ETV. 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 -59.8% for ETV and -56.6% for VTI. 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETV charges 1.08% per year while VTI charges 0.03%. On a $10,000 position that is $108 vs $3 annually, a gap of $105 per year that compounds over a long holding period. On income, ETV currently yields 7.53% against 1.07% for VTI.
Holdings Overlap
ETV and VTI share 137 holdings out of 2797 unique holdings combined, representing a 50.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, ETV or VTI?
ETV has an expense ratio of 1.08% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $105 per year of difference.
Which performed better, ETV or VTI?
Over the past year ETV returned +17.06% vs +22.19% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (21 years), ETV annualized +0.92% vs +8.14% for VTI. Past performance does not guarantee future results.
Which is riskier, ETV or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 15.3% for ETV. Worst drawdown: ETV -59.8% vs VTI -56.6%.
Should I hold both ETV and VTI?
ETV and VTI have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETV and VTI?
ETV and VTI share 137 common holdings with a 50.5% weight overlap. Combined, they hold 2797 unique securities.
Which pays a higher dividend, ETV or VTI?
ETV yields 7.53% while VTI yields 1.07%, so ETV currently pays the higher dividend yield.
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