EVG vs SPY
EVG vs SPY
Eaton Vance Short Duration Diversified Income Fund 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 503 holdings.
Side-by-Side Comparison
| Metric | EVG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.35% | 0.09% | |
| AUM | $442M | $789.1B | |
| Dividend Yield | 7.99% | 1.01% | |
| Holdings | 740 | 505 | |
| YTD Return | +2.13% | +13.79% | |
| 1Y Return | +2.13% | +23.66% | |
| 3Y Return (annualized) | +10.53% | +21.40% | |
| 5Y Return (annualized) | +4.09% | +13.37% | |
| Volatility (annualized) | 10.8% | 15.3% | |
| Max Drawdown | -53.0% | -56.5% | |
| Fund Family | Eaton Vance | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 28, 2005 | Jan 22, 1993 |
EVG vs SPY Performance
Eaton Vance Short Duration Diversified Income Fund (EVG) 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 EVG returned +2.13% while SPY returned +23.66%. Year to date, EVG is up 2.13% versus a gain of 13.79% for SPY.
Over three years, EVG compounded at +10.53% per year against +21.40% for SPY; over five years the annualized figures are +4.09% and +13.37% respectively. Across the full 21-year window we track, SPY has the edge at +8.85% annualized vs -0.54%. 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 10.8% for EVG. 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 -53.0% for EVG 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 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVG charges 1.35% per year while SPY charges 0.09%. On a $10,000 position that is $135 vs $9 annually, a gap of $126 per year that compounds over a long holding period. On income, EVG currently yields 7.99% against 1.01% for SPY.
Holdings Overlap
EVG and SPY share 0 holdings out of 750 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, EVG or SPY?
EVG has an expense ratio of 1.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $126 per year of difference.
Which performed better, EVG or SPY?
Over the past year EVG returned +2.13% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), EVG annualized -0.54% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EVG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.8% for EVG. Worst drawdown: EVG -53.0% vs SPY -56.5%.
Should I hold both EVG and SPY?
EVG and SPY have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVG and SPY?
EVG and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 750 unique securities.
Which pays a higher dividend, EVG or SPY?
EVG yields 7.99% while SPY yields 1.01%, so EVG currently pays the higher dividend yield.
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