ETW vs AVES

Comparison between Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW, ETF) and AVANTIS EMERGING MARKETS VALUE ETF (AVES, ETF).

5-Year PerformanceAVES has outperformed ETW, delivering a return of +10.4% compared to +6.4%

ETW vs AVES - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ETW(ETF)	AVES(ETF)
Net Assets	$1.10B	$1.20B
Expense Ratio	N/A	0.36%
Max Drawdown	72.81%	28.22%
Sharpe Ratio	1.65	2.12
5Y Beta	0.79	0.66
5Y Dividends CAGR	-0.21%	N/A

Net Assets

ETW

$1.10B

Winner

AVES

$1.20B

Expense Ratio

ETW

N/A

AVES

0.36%

Max Drawdown

ETW

72.81%

Winner

AVES

28.22%

Sharpe Ratio

ETW

1.65

Winner

AVES

2.12

5Y Beta

ETW

0.79

Winner

AVES

0.66

5Y Dividends CAGR

ETW

-0.21%

AVES

N/A

ETW vs AVES - Historical Returns

Returns include dividend reinvestment.

Period	ETW	AVES
1 month	+4.24%	+7.49%
3 months	+1.20%	+5.81%
6 months	+9.64%	+19.70%
1 year	+24.89%	+44.36%
5 years(CAGR)	+6.45%	+10.39%
10 years(CAGR)	+8.84%	N/A
Max(CAGR)	+7.26%	+10.39%

ETW

+4.24%

Winner

AVES

+7.49%

ETW

+1.20%

Winner

AVES

+5.81%

ETW

+9.64%

Winner

AVES

+19.70%

ETW

+24.89%

Winner

AVES

+44.36%

5Y(CAGR)

ETW

+6.45%

Winner

AVES

+10.39%

10Y(CAGR)

ETW

+8.84%

AVES

N/A

Max(CAGR)

ETW

+7.26%

Winner

AVES

+10.39%

ETW vs AVES - Annual Returns (2005 - 2026)

Returns include dividend reinvestment.

Year	ETW	AVES
2026	+5.47%	+14.57%
2025	+20.06%	+30.47%
2024	+19.65%	+5.94%
2023	+8.79%	+16.19%
2022	-23.44%	-16.49%
2021	+28.00%	+1.32%
2020	+3.30%	N/A
2019	+16.80%	N/A
2018	-12.76%	N/A
2017	+28.77%	N/A
2016	+1.80%	N/A
2015	+11.06%	N/A
2014	+0.99%	N/A
2013	+21.90%	N/A
2012	+14.27%	N/A
2011	-6.94%	N/A
2010	-0.16%	N/A
2009	+51.32%	N/A
2008	-33.62%	N/A
2007	-3.82%	N/A
2006	+26.31%	N/A
2005	-4.12%	N/A

ETW vs AVES Drawdown Comparison

The maximum drawdown for ETW was -54.20%, occurring on Nov 20, 2008. Recovery took 618 trading sessions.

The maximum drawdown for AVES was -27.41%, occurring on Oct 24, 2022. Recovery took 560 trading sessions.

The current ETW drawdown is -0.63%.

Rank	ETW	AVES
#1	-54.20% Jul 3, 2007 - Dec 14, 2009	-27.41% Jan 12, 2022 - Apr 8, 2024
#2	-47.92% Aug 20, 2018 - Jan 7, 2021	-18.49% Oct 2, 2024 - Jun 4, 2025
#3	-27.91% Dec 29, 2021 - Nov 7, 2024	-12.90% Feb 25, 2026 - May 6, 2026
#4	-20.10% Jul 7, 2011 - Mar 1, 2012	-8.51% Jul 12, 2024 - Sep 24, 2024
#5	-20.04% Oct 23, 2015 - Aug 15, 2016	-5.43% Oct 25, 2021 - Jan 11, 2022
#6	-19.75% Dec 21, 2009 - Apr 27, 2011	-4.76% Apr 9, 2024 - May 2, 2024
#7	-16.29% Feb 18, 2025 - Jun 10, 2025	-4.68% May 17, 2024 - Jul 11, 2024
#8	-12.92% Jul 24, 2014 - Apr 28, 2015	-4.55% Sep 17, 2025 - Oct 23, 2025
#9	-11.89% Aug 5, 2015 - Oct 23, 2015	-3.87% Nov 12, 2025 - Dec 22, 2025
#10	-10.60% Mar 1, 2012 - Aug 9, 2012	-3.72% Jul 23, 2025 - Aug 13, 2025
#11	-10.17% Feb 25, 2026 - Apr 14, 2026	-2.63% Jun 12, 2025 - Jun 24, 2025
#12	-8.68% Oct 17, 2012 - Jan 4, 2013	-2.40% Jan 28, 2026 - Feb 9, 2026
#13	-8.49% Jan 25, 2018 - Jun 20, 2018	-2.21% Oct 27, 2025 - Nov 10, 2025
#14	-7.33% Dec 16, 2005 - Jan 6, 2006	-1.92% Oct 1, 2021 - Oct 14, 2021
#15	-6.86% May 21, 2013 - Jul 15, 2013	-1.85% Aug 22, 2025 - Sep 8, 2025

Correlation

Correlation between ETW and AVES is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (2005 - 2026)

ETW vs AVES dividend yield comparison.

Year	ETW	AVES
2026	2.81%	0.10%
2025	8.64%	3.17%
2024	9.17%	4.09%
2023	8.99%	3.96%
2022	10.87%	3.70%
2021	7.80%	0.62%
2020	9.01%	0.00%
2019	8.41%	0.00%
2018	11.46%	0.00%
2017	9.27%	0.00%
2016	11.59%	0.00%
2015	10.40%	0.00%
2014	10.60%	0.00%
2013	9.65%	0.00%
2012	10.93%	0.00%
2011	11.77%	0.00%
2010	12.02%	0.00%
2009	12.96%	0.00%
2008	17.79%	0.00%
2007	10.37%	0.00%
2006	8.86%	0.00%
2005	2.62%	0.00%