ETV vs VYM
Eaton Vance Tax-Managed Buy-Write Opportunities Fund vs Vanguard High Dividend Yield ETF
Which is better, ETV or VYM?
Multi Alternative against Large Cap Value.
VYM has a lower expense ratio. ETV led over 1Y, VYM over 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 45.4%.
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 | ETV | VYM |
|---|---|---|
| Expense Ratio | 1.08% | 0.04%Best |
| AUM | $1.3B | $81.6B |
| Dividend Yield | 7.36% | 2.22% |
| Holdings | 174 | 613 |
| YTD Return | +13.09%Best | +9.71% |
| 1Y Return | +17.46%Best | +13.77% |
| 3Y Return (annualized) | +17.26% | +17.30%Best |
| 5Y Return (annualized) | +7.52% | +11.45%Best |
| Volatility (annualized) | 15.7% | 14.6%Best |
| Max Drawdown | -59.8% | -58.8%Best |
| $10,000 over 5 years | $14,370 | $17,195Best |
| Top 10 Weight | 45.4% | 26.1%Best |
| Fund Family | Eaton Vance | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Jun 27, 2005 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 24, 2026 (19.9 years).
ETV 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 19.9 years both funds cover.
ETV vs VYM Performance
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is an ETF from Eaton Vance and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year ETV returned +17.46% while VYM returned +13.77%. Year to date, ETV is up 13.09% versus a gain of 9.71% for VYM.
Over three years, ETV compounded at +17.26% per year against +17.30% for VYM; over five years the annualized figures are +7.52% and +11.45% respectively. Across the full 20-year window we track, VYM has the edge at +6.73% annualized vs +1.17%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETV has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 14.6% 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 -59.8% for ETV 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 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ETV charges 1.08% per year while VYM charges 0.04%. On a $10,000 position that is $108 vs $4 annually, a gap of $104 per year that compounds over a long holding period. On income, ETV currently yields 7.36% against 2.22% for VYM.
Holdings Overlap
32.6% of ETV's money is in holdings VYM also owns. 53.6% of VYM's money is in holdings ETV also owns.
The two portfolios partly overlap.
85 positions in common, counted across the 145 positions we hold weights for in ETV and 557 in VYM, against full books of 174 and 613.
What only one of them owns
Our book lists 443 positions for VYM that do not appear in our book for ETV (43.5% of the fund), and 58 for ETV that do not appear in VYM (66.9%).
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 ETV | Weight in VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 3.53% | 7.35% | 3.82% |
| JPMJpmorgan Chase & Co | 1.25% | 3.82% | 2.57% |
| CSCOCisco Systems Inc. - Ordinary Shares | 2.10% | 1.86% | 0.24% |
| JNJJohnson & Johnson - Common | 0.38% | 2.51% | 2.13% |
| XOMExxon Mobil Corp. | 0.21% | 2.63% | 2.42% |
| TXNTexas Instrument Inc | 1.13% | 1.02% | 0.11% |
| HDHome Depot Inc/The | 0.80% | 1.34% | 0.54% |
| UNHUnitedhealth Group Incorporated | 0.62% | 1.52% | 0.90% |
| KOCoca Cola Co. | 0.67% | 1.38% | 0.71% |
| CATCaterpillar, Inc. | 0.49% | 1.50% | 1.01% |
53.6% of VYM is already inside ETV.
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, ETV or VYM?
ETV has an expense ratio of 1.08% while VYM charges 0.04%. VYM is the cheaper option, by $104 a year on a $10,000 investment.
Which performed better, ETV or VYM?
Over the past year ETV returned +17.46% vs +13.77% for VYM, so ETV leads on 1-year performance. Over the longest common window we track (20 years), ETV annualized +1.17% vs +6.73% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETV or VYM?
ETV has been the more volatile fund at 15.7% annualized versus 14.6% for VYM. Worst drawdown: ETV -59.8% vs VYM -58.8%.
Should I hold both ETV and VYM?
ETV and VYM have a monthly-return correlation of 0.69, 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 ETV and VYM?
53.6% of VYM's money is in holdings ETV also owns. 53.6% of VYM's is in holdings ETV also owns. They hold 85 positions in common, counted across the 145 positions we hold weights for in ETV and 557 in VYM.
Which pays a higher dividend, ETV or VYM?
ETV yields 7.36% while VYM yields 2.22%, so ETV currently pays the higher dividend yield.
Is VYM better than ETV?
VYM has a lower expense ratio. ETV led over 1Y, VYM over 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 45.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.