ETW vs FTKI
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs First Trust Small Cap BuyWrite Income ETF
Quick Verdict
FTKI has a lower expense ratio. FTKI delivered stronger 1-year returns. ETW offers more diversification with 259 holdings.
Side-by-Side Comparison
| Metric | ETW | FTKI | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.85% | |
| AUM | $936M | $25M | |
| Dividend Yield | 7.41% | 12.53% | |
| Holdings | 291 | 170 | |
| YTD Return | +12.63% | +14.48% | |
| 1Y Return | +19.70% | +20.91% | |
| 3Y Return (annualized) | +16.82% | - | |
| 5Y Return (annualized) | +6.41% | - | |
| Volatility (annualized) | 16.9% | 10.3% | |
| Max Drawdown | -72.8% | -15.2% | |
| Fund Family | Eaton Vance | First Trust Portfolios (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | Feb 26, 2025 |
ETW vs FTKI Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and First Trust Small Cap BuyWrite Income ETF (FTKI) is a ETF from First Trust Portfolios (US). Over the past year ETW returned +19.70% while FTKI returned +20.91%. Year to date, ETW is up 12.63% versus a gain of 14.48% for FTKI.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 10.3% for FTKI. 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 -72.8% for ETW and -15.2% for FTKI. 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETW charges 1.10% per year while FTKI charges 0.85%. On a $10,000 position that is $110 vs $85 annually, a gap of $25 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 12.53% for FTKI.
Holdings Overlap
ETW and FTKI share 1 holdings out of 402 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in ETW | Weight in FTKI | Difference |
|---|---|---|---|
| ING:PL | 0.56% | 0.31% | 0.25% |
Frequently Asked Questions
Which is cheaper, ETW or FTKI?
ETW has an expense ratio of 1.10% while FTKI charges 0.85%. FTKI is the cheaper option. On a $10,000 investment, that is $25 per year of difference.
Which performed better, ETW or FTKI?
Over the past year ETW returned +19.70% vs +20.91% for FTKI, so FTKI leads on 1-year performance. Over the longest common window we track (2 years), ETW annualized -1.06% vs +13.55% for FTKI. Past performance does not guarantee future results.
Which is riskier, ETW or FTKI?
ETW has been the more volatile fund at 16.9% annualized versus 10.3% for FTKI. Worst drawdown: ETW -72.8% vs FTKI -15.2%.
Should I hold both ETW and FTKI?
ETW and FTKI have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and FTKI?
ETW and FTKI share 1 common holdings with a 0.3% weight overlap. Combined, they hold 402 unique securities.
Which pays a higher dividend, ETW or FTKI?
ETW yields 7.41% while FTKI yields 12.53%, so FTKI currently pays the higher dividend yield.
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