ETW vs VGI
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs Virtus Global Multi-Sector Income Fund
Quick Verdict
ETW has a lower expense ratio. ETW delivered stronger 1-year returns. VGI offers more diversification with 434 holdings.
Side-by-Side Comparison
| Metric | ETW | VGI | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 1.74% | |
| AUM | $936M | $88M | |
| Dividend Yield | 7.41% | 11.98% | |
| Holdings | 291 | 646 | |
| YTD Return | +11.26% | +1.20% | |
| 1Y Return | +19.31% | +4.18% | |
| 3Y Return (annualized) | +16.49% | +10.88% | |
| 5Y Return (annualized) | +6.15% | +2.18% | |
| Volatility (annualized) | 16.9% | 14.1% | |
| Max Drawdown | -72.8% | -63.3% | |
| Fund Family | Eaton Vance | Virtus Investment Partners | |
| Category | Alternative | Fixed Income | |
| Inception | Sep 30, 2005 | Feb 23, 2012 |
ETW vs VGI Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and Virtus Global Multi-Sector Income Fund (VGI) is a ETF from Virtus Investment Partners. Over the past year ETW returned +19.31% while VGI returned +4.18%. Year to date, ETW is up 11.26% versus a gain of 1.20% for VGI.
Over three years, ETW compounded at +16.49% per year against +10.88% for VGI; over five years the annualized figures are +6.15% and +2.18% respectively. Across the full 15-year window we track, ETW has the edge at -1.12% annualized vs -2.40%. 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 14.1% for VGI. 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 -63.3% for VGI. 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETW charges 1.10% per year while VGI charges 1.74%. On a $10,000 position that is $110 vs $174 annually, a gap of $64 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 11.98% for VGI.
Holdings Overlap
ETW and VGI share 0 holdings out of 693 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 VGI?
ETW has an expense ratio of 1.10% while VGI charges 1.74%. ETW is the cheaper option. On a $10,000 investment, that is $64 per year of difference.
Which performed better, ETW or VGI?
Over the past year ETW returned +19.31% vs +4.18% for VGI, so ETW leads on 1-year performance. Over the longest common window we track (15 years), ETW annualized -1.12% vs -2.40% for VGI. Past performance does not guarantee future results.
Which is riskier, ETW or VGI?
ETW has been the more volatile fund at 16.9% annualized versus 14.1% for VGI. Worst drawdown: ETW -72.8% vs VGI -63.3%.
Should I hold both ETW and VGI?
ETW and VGI have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and VGI?
ETW and VGI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 693 unique securities.
Which pays a higher dividend, ETW or VGI?
ETW yields 7.41% while VGI yields 11.98%, so VGI currently pays the higher dividend yield.
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