EVF vs SPY
Eaton Vance Senior Income Trust vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | EVF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.38% | 0.09% | |
| AUM | $108M | $821.1B | |
| Dividend Yield | 7.85% | 1.01% | |
| Holdings | 462 | 505 | |
| YTD Return | +0.05% | +14.24% | |
| 1Y Return | -1.50% | +21.71% | |
| 3Y Return (annualized) | +5.76% | +22.10% | |
| 5Y Return (annualized) | +2.56% | +13.21% | |
| Volatility (annualized) | 14.1% | 15.3% | |
| Max Drawdown | -71.3% | -56.5% | |
| Fund Family | Eaton Vance | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 30, 1998 | Jan 22, 1993 |
EVF vs SPY Performance
Eaton Vance Senior Income Trust (EVF) is a ETF from Eaton Vance and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EVF returned -1.50% while SPY returned +21.71%. Year to date, EVF is up 0.05% versus a gain of 14.24% for SPY.
Over three years, EVF compounded at +5.76% per year against +22.10% for SPY; over five years the annualized figures are +2.56% and +13.21% respectively. Across the full 28-year window we track, SPY has the edge at +8.86% annualized vs -0.73%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.1% for EVF. 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 -71.3% for EVF and -56.5% for SPY. 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 0.48. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVF charges 2.38% per year while SPY charges 0.09%. On a $10,000 position that is $238 vs $9 annually, a gap of $229 per year that compounds over a long holding period. On income, EVF currently yields 7.85% against 1.01% for SPY.
Holdings Overlap
EVF and SPY share 0 holdings out of 712 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, EVF or SPY?
EVF has an expense ratio of 2.38% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $229 per year of difference.
Which performed better, EVF or SPY?
Over the past year EVF returned -1.50% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (28 years), EVF annualized -0.73% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, EVF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.1% for EVF. Worst drawdown: EVF -71.3% vs SPY -56.5%.
Should I hold both EVF and SPY?
EVF and SPY have a monthly-return correlation of 0.48, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVF and SPY?
EVF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 712 unique securities.
Which pays a higher dividend, EVF or SPY?
EVF yields 7.85% while SPY yields 1.01%, so EVF currently pays the higher dividend yield.
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