ETX vs VYM
Eaton Vance Municipal Income 2028 Term Trust vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | ETX | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 1.86% | 0.04% | |
| AUM | $206M | $81.6B | |
| Dividend Yield | 5.18% | 2.24% | |
| Holdings | 126 | 616 | |
| YTD Return | -0.24% | +15.75% | |
| 1Y Return | +1.51% | +23.85% | |
| 3Y Return (annualized) | +7.11% | +19.14% | |
| 5Y Return (annualized) | +0.10% | +12.45% | |
| Volatility (annualized) | 11.0% | 14.6% | |
| Max Drawdown | -32.8% | -58.8% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Mar 26, 2013 | Nov 10, 2006 |
ETX vs VYM Performance
Eaton Vance Municipal Income 2028 Term Trust (ETX) is a ETF from Eaton Vance and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year ETX returned +1.51% while VYM returned +23.85%. Year to date, ETX is down 0.24% versus a gain of 15.75% for VYM.
Over three years, ETX compounded at +7.11% per year against +19.14% for VYM; over five years the annualized figures are +0.10% and +12.45% respectively. Across the full 13-year window we track, VYM has the edge at +7.06% annualized vs +1.15%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 11.0% for ETX. 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 -32.8% for ETX and -58.8% for VYM. 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 0.18. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETX charges 1.86% per year while VYM charges 0.04%. On a $10,000 position that is $186 vs $4 annually, a gap of $182 per year that compounds over a long holding period. On income, ETX currently yields 5.18% against 2.24% for VYM.
Holdings Overlap
ETX and VYM share 0 holdings out of 652 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, ETX or VYM?
ETX has an expense ratio of 1.86% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $182 per year of difference.
Which performed better, ETX or VYM?
Over the past year ETX returned +1.51% vs +23.85% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (13 years), ETX annualized +1.15% vs +7.06% for VYM. Past performance does not guarantee future results.
Which is riskier, ETX or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 11.0% for ETX. Worst drawdown: ETX -32.8% vs VYM -58.8%.
Should I hold both ETX and VYM?
ETX and VYM have a monthly-return correlation of 0.18, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETX and VYM?
ETX and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 652 unique securities.
Which pays a higher dividend, ETX or VYM?
ETX yields 5.18% while VYM yields 2.24%, so ETX currently pays the higher dividend yield.
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