ETB vs SPY
Comparison between Eaton Vance Tax-Managed Buy-Write Income Fund (ETB, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed ETB, delivering a return of +13.3% compared to +7.3%
ETB vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
ETB vs SPY - Historical Returns
Returns include dividend reinvestment.
ETB vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | ETB | SPY |
|---|---|---|
| 2026 | +3.33% | +8.26% |
| 2025 | +11.50% | +18.00% |
| 2024 | +26.79% | +25.59% |
| 2023 | +7.26% | +26.72% |
| 2022 | -17.06% | -18.64% |
| 2021 | +26.64% | +30.52% |
| 2020 | +0.51% | +17.28% |
| 2019 | +29.45% | +31.09% |
| 2018 | -12.67% | -5.24% |
| 2017 | +12.37% | +20.78% |
| 2016 | +8.92% | +13.59% |
| 2015 | +13.83% | +1.31% |
| 2014 | +16.83% | +14.56% |
| 2013 | +11.61% | +29.00% |
| 2012 | +19.91% | +14.17% |
| 2011 | -3.08% | +0.85% |
| 2010 | -4.88% | +13.14% |
| 2009 | +46.53% | +22.67% |
| 2008 | -19.08% | -36.25% |
| 2007 | -8.12% | +5.32% |
| 2006 | +26.09% | +13.85% |
| 2005 | -4.99% | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
ETB vs SPY Drawdown Comparison
The maximum drawdown for ETB was -50.92%, occurring on Nov 20, 2008. Recovery took 578 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current ETB drawdown is -2.31%. The current SPY drawdown is -2.90%.
| Rank | ETB | SPY |
|---|---|---|
| #1 | -50.92% Jun 1, 2007 - Sep 16, 2009 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -45.03% Feb 19, 2020 - Mar 17, 2021 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -25.67% Mar 24, 2010 - Jul 13, 2012 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -24.54% Sep 20, 2018 - Apr 29, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -23.45% Mar 22, 2022 - Jul 12, 2024 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -20.10% Jan 23, 2025 - Aug 6, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -17.38% Dec 29, 2015 - Apr 12, 2016 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -14.19% Jan 14, 2010 - Mar 10, 2010 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -13.97% Oct 15, 2012 - Jan 15, 2013 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -12.26% Aug 2, 2005 - Mar 13, 2006 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -11.06% Jul 28, 2014 - Oct 31, 2014 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -10.54% Aug 19, 2015 - Nov 23, 2015 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -9.17% Feb 25, 2026 - Apr 15, 2026 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -9.02% Jan 12, 2022 - Feb 16, 2022 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -8.93% Jan 12, 2018 - Jul 17, 2018 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between ETB and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
Dividend Comparison (1999 - 2026)
ETB vs SPY dividend yield comparison.
| Year | ETB | SPY |
|---|---|---|
| 2026 | 3.47% | 0.24% |
| 2025 | 8.31% | 1.07% |
| 2024 | 8.21% | 1.21% |
| 2023 | 8.62% | 1.40% |
| 2022 | 9.63% | 1.65% |
| 2021 | 7.57% | 1.20% |
| 2020 | 8.64% | 1.52% |
| 2019 | 7.90% | 1.75% |
| 2018 | 9.64% | 2.04% |
| 2017 | 7.75% | 1.80% |
| 2016 | 7.85% | 2.03% |
| 2015 | 7.77% | 2.06% |
| 2014 | 8.15% | 1.87% |
| 2013 | 8.70% | 1.81% |
| 2012 | 9.24% | 2.18% |
| 2011 | 10.09% | 2.05% |
| 2010 | 12.49% | 1.80% |
| 2009 | 10.68% | 1.95% |
| 2008 | 14.37% | 3.02% |
| 2007 | 10.33% | 1.85% |
| 2006 | 8.53% | 1.73% |
| 2005 | 4.96% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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