ETW vs IG
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs Principal Investment Grade Corporate ETF
Quick Verdict
IG has a lower expense ratio. ETW delivered stronger 1-year returns. ETW offers more diversification with 259 holdings.
Side-by-Side Comparison
| Metric | ETW | IG | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.19% | |
| AUM | $936M | $198M | |
| Dividend Yield | 7.41% | 5.07% | |
| Holdings | 291 | 248 | |
| YTD Return | +11.94% | -1.86% | |
| 1Y Return | +20.04% | +0.54% | |
| 3Y Return (annualized) | +16.61% | +4.74% | |
| 5Y Return (annualized) | +6.28% | -0.77% | |
| Volatility (annualized) | 16.9% | 8.0% | |
| Max Drawdown | -72.8% | -23.8% | |
| Fund Family | Eaton Vance | Principal Funds | |
| Category | Alternative | Fixed Income | |
| Inception | Sep 30, 2005 | Apr 18, 2018 |
ETW vs IG Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and Principal Investment Grade Corporate ETF (IG) is a ETF from Principal Funds. Over the past year ETW returned +20.04% while IG returned +0.54%. Year to date, ETW is up 11.94% versus a loss of 1.86% for IG.
Over three years, ETW compounded at +16.61% per year against +4.74% for IG; over five years the annualized figures are +6.28% and -0.77% respectively. Across the full 8-year window we track, IG has the edge at +0.55% annualized vs -1.09%. 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 8.0% for IG. 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 -23.8% for IG. 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETW charges 1.10% per year while IG charges 0.19%. On a $10,000 position that is $110 vs $19 annually, a gap of $91 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 5.07% for IG.
Holdings Overlap
ETW and IG share 0 holdings out of 404 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 IG?
ETW has an expense ratio of 1.10% while IG charges 0.19%. IG is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, ETW or IG?
Over the past year ETW returned +20.04% vs +0.54% for IG, so ETW leads on 1-year performance. Over the longest common window we track (8 years), ETW annualized -1.09% vs +0.55% for IG. Past performance does not guarantee future results.
Which is riskier, ETW or IG?
ETW has been the more volatile fund at 16.9% annualized versus 8.0% for IG. Worst drawdown: ETW -72.8% vs IG -23.8%.
Should I hold both ETW and IG?
ETW and IG have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and IG?
ETW and IG share 0 common holdings with a 0.0% weight overlap. Combined, they hold 404 unique securities.
Which pays a higher dividend, ETW or IG?
ETW yields 7.41% while IG yields 5.07%, so ETW currently pays the higher dividend yield.
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