ETW vs GTOS
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs Invesco Short Duration Total Return Bond ETF
Quick Verdict
GTOS has a lower expense ratio. ETW delivered stronger 1-year returns. GTOS offers more diversification with 703 holdings.
Side-by-Side Comparison
| Metric | ETW | GTOS | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.30% | |
| AUM | $936M | $124M | |
| Dividend Yield | 7.47% | 4.52% | |
| Holdings | 291 | 703 | |
| YTD Return | +12.36% | -0.70% | |
| 1Y Return | +19.81% | +1.20% | |
| 3Y Return (annualized) | +17.06% | +4.69% | |
| 5Y Return (annualized) | +6.39% | - | |
| Volatility (annualized) | 16.9% | 1.9% | |
| Max Drawdown | -72.8% | -1.8% | |
| Fund Family | Eaton Vance | Invesco (US) | |
| Category | Alternative | Fixed Income | |
| Inception | Sep 30, 2005 | Dec 9, 2022 |
ETW vs GTOS Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and Invesco Short Duration Total Return Bond ETF (GTOS) is a ETF from Invesco (US). Over the past year ETW returned +19.81% while GTOS returned +1.20%. Year to date, ETW is up 12.36% versus a loss of 0.70% for GTOS.
Over three years, ETW compounded at +17.06% per year against +4.69% for GTOS. Across the full 4-year window we track, GTOS has the edge at +4.33% annualized vs -1.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 1.9% for GTOS. 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 -1.8% for GTOS. 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETW charges 1.10% per year while GTOS charges 0.30%. On a $10,000 position that is $110 vs $30 annually, a gap of $80 per year that compounds over a long holding period. On income, ETW currently yields 7.47% against 4.52% for GTOS.
Holdings Overlap
ETW and GTOS share 0 holdings out of 518 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 GTOS?
ETW has an expense ratio of 1.10% while GTOS charges 0.30%. GTOS is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, ETW or GTOS?
Over the past year ETW returned +19.81% vs +1.20% for GTOS, so ETW leads on 1-year performance. Over the longest common window we track (4 years), ETW annualized -1.07% vs +4.33% for GTOS. Past performance does not guarantee future results.
Which is riskier, ETW or GTOS?
ETW has been the more volatile fund at 16.9% annualized versus 1.9% for GTOS. Worst drawdown: ETW -72.8% vs GTOS -1.8%.
Should I hold both ETW and GTOS?
ETW and GTOS have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and GTOS?
ETW and GTOS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, ETW or GTOS?
ETW yields 7.47% while GTOS yields 4.52%, so ETW currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.