ETW vs SAWS
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs AAM Sawgrass US Small Cap Quality Growth ETF
Quick Verdict
SAWS has a lower expense ratio. ETW delivered stronger 1-year returns. ETW offers more diversification with 259 holdings.
Side-by-Side Comparison
| Metric | ETW | SAWS | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.55% | |
| AUM | $936M | $8M | |
| Dividend Yield | 7.41% | 0.02% | |
| Holdings | 291 | 72 | |
| YTD Return | +12.63% | +15.60% | |
| 1Y Return | +19.70% | +18.20% | |
| 3Y Return (annualized) | +16.82% | - | |
| 5Y Return (annualized) | +6.41% | - | |
| Volatility (annualized) | 16.9% | 18.4% | |
| Max Drawdown | -72.8% | -22.0% | |
| Fund Family | Eaton Vance | Advisors Asset Management, Inc. | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | Jul 30, 2024 |
ETW vs SAWS Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and AAM Sawgrass US Small Cap Quality Growth ETF (SAWS) is a ETF from Advisors Asset Management, Inc.. Over the past year ETW returned +19.70% while SAWS returned +18.20%. Year to date, ETW is up 12.63% versus a gain of 15.60% for SAWS.
Risk: Volatility and Drawdowns
SAWS has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 16.9% for ETW. 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 -22.0% for SAWS. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETW charges 1.10% per year while SAWS charges 0.55%. On a $10,000 position that is $110 vs $55 annually, a gap of $55 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 0.02% for SAWS.
Holdings Overlap
ETW and SAWS share 0 holdings out of 330 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 SAWS?
ETW has an expense ratio of 1.10% while SAWS charges 0.55%. SAWS is the cheaper option. On a $10,000 investment, that is $55 per year of difference.
Which performed better, ETW or SAWS?
Over the past year ETW returned +19.70% vs +18.20% for SAWS, so ETW leads on 1-year performance. Over the longest common window we track (2 years), ETW annualized -1.06% vs +13.18% for SAWS. Past performance does not guarantee future results.
Which is riskier, ETW or SAWS?
SAWS has been the more volatile fund at 18.4% annualized versus 16.9% for ETW. Worst drawdown: ETW -72.8% vs SAWS -22.0%.
Should I hold both ETW and SAWS?
ETW and SAWS have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and SAWS?
ETW and SAWS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 330 unique securities.
Which pays a higher dividend, ETW or SAWS?
ETW yields 7.41% while SAWS yields 0.02%, so ETW currently pays the higher dividend yield.
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