CEV vs RFEM

Comparison between Eaton Vance California Municipal Income Trust (CEV, ETF) and FIRST TRUST RIVERFRONT DYNAMIC EMERGING MARKETS ETF (RFEM, ETF).

5-Year PerformanceRFEM has outperformed CEV, delivering a return of +7.9% compared to -0.7%

CEV vs RFEM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CEV(ETF)	RFEM(ETF)
Net Assets	$78M	$78M
Expense Ratio	N/A	0.99%
Max Drawdown	61.83%	45.64%
Sharpe Ratio	0.94	1.69
5Y Beta	0.13	0.76
5Y Dividends CAGR	1.20%	12.60%

Net Assets

Winner

CEV

$78M

RFEM

$78M

Expense Ratio

CEV

N/A

RFEM

0.99%

Max Drawdown

CEV

61.83%

Winner

RFEM

45.64%

Sharpe Ratio

CEV

0.94

Winner

RFEM

1.69

5Y Beta

Winner

CEV

0.13

RFEM

0.76

5Y Dividends CAGR

CEV

1.20%

Winner

RFEM

12.60%

CEV vs RFEM - Historical Returns

Returns include dividend reinvestment.

Period	CEV	RFEM
1 month	+0.29%	-2.18%
3 months	-1.81%	+9.85%
6 months	+1.21%	+16.67%
1 year	+12.83%	+36.80%
5 years(CAGR)	-0.67%	+7.88%
10 years(CAGR)	+1.50%	+9.71%
Max(CAGR)	+5.06%	+9.71%

Winner

CEV

+0.29%

RFEM

-2.18%

CEV

-1.81%

Winner

RFEM

+9.85%

CEV

+1.21%

Winner

RFEM

+16.67%

CEV

+12.83%

Winner

RFEM

+36.80%

5Y(CAGR)

CEV

-0.67%

Winner

RFEM

+7.88%

10Y(CAGR)

CEV

+1.50%

Winner

RFEM

+9.71%

Max(CAGR)

CEV

+5.06%

Winner

RFEM

+9.71%

CEV vs RFEM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	CEV	RFEM
2026	+4.27%	+13.73%
2025	+5.19%	+27.41%
2024	+1.93%	+12.03%
2023	+8.06%	+21.35%
2022	-24.31%	-19.44%
2021	+2.98%	+0.45%
2020	+6.21%	+6.01%
2019	+25.02%	+20.05%
2018	-4.89%	-20.67%
2017	+2.64%	+34.51%
2016	-3.39%	+8.60%
2015	+7.78%	N/A
2014	+22.63%	N/A
2013	-17.98%	N/A
2012	+16.53%	N/A
2011	+23.43%	N/A
2010	+4.71%	N/A
2009	+60.06%	N/A
2008	-39.27%	N/A
2007	-7.13%	N/A
2006	+12.80%	N/A
2005	-2.30%	N/A
2004	+7.28%	N/A
2003	+15.22%	N/A
2002	+5.14%	N/A
2001	+21.58%	N/A
2000	+13.59%	N/A
1999	-7.78%	N/A

CEV vs RFEM Drawdown Comparison

The maximum drawdown for CEV was -58.45%, occurring on Dec 16, 2008. Recovery took 764 trading sessions.

The maximum drawdown for RFEM was -42.20%, occurring on Mar 23, 2020. Recovery took 747 trading sessions.

The current CEV drawdown is -10.03%. The current RFEM drawdown is -6.27%.

Rank	CEV	RFEM
#1	-58.45% May 21, 2007 - Jun 2, 2010	-42.20% Jan 26, 2018 - Jan 14, 2021
#2	-32.99% Nov 12, 2021 - Oct 31, 2022	-35.99% Feb 17, 2021 - Jul 5, 2024
#3	-26.49% Feb 12, 2013 - Jan 29, 2015	-15.81% Sep 26, 2024 - May 19, 2025
#4	-25.93% Feb 19, 2020 - Jul 31, 2020	-11.65% Feb 25, 2026 - Apr 17, 2026
#5	-19.14% Apr 6, 2016 - Aug 2, 2019	-10.45% Jul 12, 2024 - Sep 24, 2024
#6	-18.74% Sep 7, 2010 - Aug 22, 2011	-9.08% Sep 22, 2016 - Jan 25, 2017
#7	-14.62% Nov 9, 1999 - Apr 12, 2000	-6.53% Jun 23, 2016 - Jul 13, 2016
#8	-14.25% Apr 13, 2000 - Aug 21, 2000	-6.35% May 11, 2026 - May 26, 2026
#9	-13.63% Mar 17, 2004 - Sep 14, 2004	-6.27% Jun 2, 2026 - Jun 5, 2026
#10	-12.41% Jul 2, 2003 - Dec 19, 2003	-5.18% Jan 21, 2021 - Feb 5, 2021
#11	-11.73% Oct 8, 2002 - May 14, 2003	-4.83% Sep 6, 2016 - Sep 22, 2016
#12	-11.55% Feb 14, 2005 - Mar 1, 2006	-4.56% Mar 20, 2017 - May 9, 2017
#13	-11.18% May 11, 2006 - Dec 1, 2006	-4.27% Oct 6, 2025 - Oct 20, 2025
#14	-10.25% Nov 12, 2001 - Feb 6, 2002	-4.12% Nov 22, 2017 - Dec 29, 2017
#15	-9.96% Feb 7, 2001 - Aug 1, 2001	-3.68% Jul 23, 2025 - Aug 13, 2025

Correlation

Correlation between CEV and RFEM is 0.50 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.50

-101

Dividend Comparison (1999 - 2026)

CEV vs RFEM dividend yield comparison.

Year	CEV	RFEM
2026	2.44%	0.05%
2025	5.98%	1.98%
2024	5.58%	3.64%
2023	4.14%	3.28%
2022	5.24%	7.74%
2021	4.17%	3.21%
2020	4.00%	1.22%
2019	3.95%	3.75%
2018	4.25%	2.37%
2017	4.01%	1.62%
2016	4.81%	3.73%
2015	5.46%	0.00%
2014	5.75%	0.00%
2013	7.07%	0.00%
2012	5.84%	0.00%
2011	6.78%	0.00%
2010	7.57%	0.00%
2009	6.69%	0.00%
2008	8.81%	0.00%
2007	5.06%	0.00%
2006	4.87%	0.00%
2005	6.29%	0.00%
2004	6.81%	0.00%
2003	6.34%	0.00%
2002	6.71%	0.00%
2001	5.33%	0.00%
2000	5.99%	0.00%
1999	1.16%	0.00%