ETW vs VTI
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | ETW | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.03% | |
| AUM | $936M | $666.9B | |
| Dividend Yield | 7.47% | 1.07% | |
| Holdings | 291 | 3,543 | |
| YTD Return | +12.47% | +12.65% | |
| 1Y Return | +21.21% | +21.39% | |
| 3Y Return (annualized) | +17.50% | +21.54% | |
| 5Y Return (annualized) | +6.48% | +12.11% | |
| Volatility (annualized) | 16.9% | 15.3% | |
| Max Drawdown | -72.8% | -56.6% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | May 24, 2001 |
ETW vs VTI Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year ETW returned +21.21% while VTI returned +21.39%. Year to date, ETW is up 12.47% versus a gain of 12.65% for VTI.
Over three years, ETW compounded at +17.50% per year against +21.54% for VTI; over five years the annualized figures are +6.48% and +12.11% respectively. Across the full 21-year window we track, VTI has the edge at +8.07% annualized vs -1.06%. 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 15.3% for VTI. 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 -56.6% for VTI. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETW charges 1.10% per year while VTI charges 0.03%. On a $10,000 position that is $110 vs $3 annually, a gap of $107 per year that compounds over a long holding period. On income, ETW currently yields 7.47% against 1.07% for VTI.
Holdings Overlap
ETW and VTI share 115 holdings out of 2931 unique holdings combined, representing a 40.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETW or VTI?
ETW has an expense ratio of 1.10% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $107 per year of difference.
Which performed better, ETW or VTI?
Over the past year ETW returned +21.21% vs +21.39% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (21 years), ETW annualized -1.06% vs +8.07% for VTI. Past performance does not guarantee future results.
Which is riskier, ETW or VTI?
ETW has been the more volatile fund at 16.9% annualized versus 15.3% for VTI. Worst drawdown: ETW -72.8% vs VTI -56.6%.
Should I hold both ETW and VTI?
ETW and VTI have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and VTI?
ETW and VTI share 115 common holdings with a 40.7% weight overlap. Combined, they hold 2931 unique securities.
Which pays a higher dividend, ETW or VTI?
ETW yields 7.47% while VTI yields 1.07%, so ETW currently pays the higher dividend yield.
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