ETW vs GLOW
ETW vs GLOW
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs VictoryShares WestEnd Global Equity ETF
Quick Verdict
GLOW has a lower expense ratio. GLOW delivered stronger 1-year returns. ETW offers more diversification with 259 holdings.
Side-by-Side Comparison
| Metric | ETW | GLOW | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.72% | |
| AUM | $936M | $63M | |
| Dividend Yield | 7.41% | 1.28% | |
| Holdings | 291 | 16 | |
| YTD Return | +10.92% | +14.31% | |
| 1Y Return | +20.02% | +25.58% | |
| 3Y Return (annualized) | +15.89% | - | |
| 5Y Return (annualized) | +6.21% | - | |
| Volatility (annualized) | 16.9% | 10.7% | |
| Max Drawdown | -72.8% | -15.6% | |
| Fund Family | Eaton Vance | Victory Capital Management Inc. | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | Jun 21, 2024 |
ETW vs GLOW Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and VictoryShares WestEnd Global Equity ETF (GLOW) is a ETF from Victory Capital Management Inc.. Over the past year ETW returned +20.02% while GLOW returned +25.58%. Year to date, ETW is up 10.92% versus a gain of 14.31% for GLOW.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 10.7% for GLOW. 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 -15.6% for GLOW. 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ETW charges 1.10% per year while GLOW charges 0.72%. On a $10,000 position that is $110 vs $72 annually, a gap of $38 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 1.28% for GLOW.
Holdings Overlap
ETW and GLOW share 0 holdings out of 274 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETW or GLOW?
ETW has an expense ratio of 1.10% while GLOW charges 0.72%. GLOW is the cheaper option. On a $10,000 investment, that is $38 per year of difference.
Which performed better, ETW or GLOW?
Over the past year ETW returned +20.02% vs +25.58% for GLOW, so GLOW leads on 1-year performance. Over the longest common window we track (2 years), ETW annualized -1.13% vs +19.77% for GLOW. Past performance does not guarantee future results.
Which is riskier, ETW or GLOW?
ETW has been the more volatile fund at 16.9% annualized versus 10.7% for GLOW. Worst drawdown: ETW -72.8% vs GLOW -15.6%.
Should I hold both ETW and GLOW?
ETW and GLOW have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between ETW and GLOW?
ETW and GLOW share 0 common holdings with a 0.0% weight overlap. Combined, they hold 274 unique securities.
Which pays a higher dividend, ETW or GLOW?
ETW yields 7.41% while GLOW yields 1.28%, so ETW currently pays the higher dividend yield.
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