ETX vs PIE

Comparison between Eaton Vance Municipal Income 2028 Term Trust (ETX, ETF) and INVESCO DORSEY WRIGHT EMERGING MARKETS MOMENTUM ETF (PIE, ETF).

5-Year PerformancePIE has outperformed ETX, delivering a return of +5.5% compared to +1.2%

ETX vs PIE - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ETX(ETF)	PIE(ETF)
Net Assets	$199M	$201M
Expense Ratio	N/A	0.90%
Max Drawdown	32.76%	73.06%
Sharpe Ratio	0.57	1.93
5Y Beta	0.09	0.84
5Y Dividends CAGR	3.62%	12.90%

Net Assets

ETX

$199M

Winner

PIE

$201M

Expense Ratio

ETX

N/A

PIE

0.90%

Max Drawdown

Winner

ETX

32.76%

PIE

73.06%

Sharpe Ratio

ETX

0.57

Winner

PIE

1.93

5Y Beta

Winner

ETX

0.09

PIE

0.84

5Y Dividends CAGR

ETX

3.62%

Winner

PIE

12.90%

ETX vs PIE - Historical Returns

Returns include dividend reinvestment.

Period	ETX	PIE
1 month	+0.89%	-3.34%
3 months	+0.35%	+15.69%
6 months	+1.13%	+27.77%
1 year	+9.58%	+56.78%
5 years(CAGR)	+1.15%	+5.53%
10 years(CAGR)	+3.59%	+9.29%
Max(CAGR)	+4.12%	+2.58%

Winner

ETX

+0.89%

PIE

-3.34%

ETX

+0.35%

Winner

PIE

+15.69%

ETX

+1.13%

Winner

PIE

+27.77%

ETX

+9.58%

Winner

PIE

+56.78%

5Y(CAGR)

ETX

+1.15%

Winner

PIE

+5.53%

10Y(CAGR)

ETX

+3.59%

Winner

PIE

+9.29%

Max(CAGR)

Winner

ETX

+4.12%

PIE

+2.58%

ETX vs PIE - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	ETX	PIE
2026	+2.70%	+27.79%
2025	+11.55%	+25.76%
2024	+6.08%	+1.38%
2023	-0.69%	+12.56%
2022	-13.36%	-28.77%
2021	-4.59%	+12.85%
2020	+12.33%	+18.03%
2019	+17.34%	+25.13%
2018	-3.05%	-22.83%
2017	+9.16%	+41.02%
2016	+8.96%	+2.26%
2015	+10.25%	-13.21%
2014	+24.43%	-0.27%
2013	-24.56%	-2.46%
2012	N/A	+14.98%
2011	N/A	-13.39%
2010	N/A	+21.08%
2009	N/A	+53.15%
2008	N/A	-62.20%
2007	N/A	+0.56%

ETX vs PIE Drawdown Comparison

The maximum drawdown for ETX was -32.09%, occurring on Aug 16, 2013. Recovery took 649 trading sessions.

The maximum drawdown for PIE was -72.98%, occurring on Mar 2, 2009. Recovery took 3259 trading sessions.

The current ETX drawdown is -1.31%. The current PIE drawdown is -7.85%.

Rank	ETX	PIE
#1	-32.09% May 3, 2013 - Nov 30, 2015	-72.98% Jan 10, 2008 - Dec 18, 2020
#2	-25.15% Dec 5, 2019 - Aug 3, 2020	-40.31% Jul 15, 2021 - Jan 6, 2026
#3	-24.19% Jun 29, 2021 - Oct 28, 2025	-12.87% Feb 17, 2021 - Jun 1, 2021
#4	-11.85% Aug 22, 2016 - Aug 29, 2017	-9.87% Feb 27, 2026 - Apr 10, 2026
#5	-9.62% Oct 2, 2018 - Jan 24, 2019	-7.85% May 26, 2026 - Jun 5, 2026
#6	-8.40% Sep 15, 2017 - Oct 2, 2018	-6.90% May 11, 2026 - May 26, 2026
#7	-7.93% Mar 22, 2021 - Jun 29, 2021	-5.39% Jan 25, 2021 - Feb 2, 2021
#8	-6.85% Dec 31, 2020 - Mar 22, 2021	-4.89% Jan 28, 2026 - Feb 11, 2026
#9	-6.85% Sep 9, 2020 - Nov 25, 2020	-2.18% Apr 22, 2026 - Apr 24, 2026
#10	-6.76% Sep 10, 2019 - Oct 8, 2019	-1.92% Jun 1, 2021 - Jun 21, 2021
#11	-5.69% Oct 8, 2019 - Dec 5, 2019	-1.86% Jan 14, 2021 - Jan 19, 2021
#12	-4.93% Oct 28, 2025 - May 19, 2026	-1.85% Jul 7, 2021 - Jul 15, 2021
#13	-4.14% Jul 7, 2016 - Aug 8, 2016	-1.46% Dec 31, 2007 - Jan 7, 2008
#14	-3.40% May 16, 2016 - Jun 3, 2016	-1.37% May 6, 2026 - May 11, 2026
#15	-3.09% Dec 2, 2020 - Dec 29, 2020	-1.33% Jan 8, 2021 - Jan 14, 2021

Correlation

Correlation between ETX and PIE is 0.73 which considered as a strong positive correlation - the stocks tend to move together.

0.73

-101

Dividend Comparison (2008 - 2026)

ETX vs PIE dividend yield comparison.

Year	ETX	PIE
2026	2.07%	0.09%
2025	5.02%	2.28%
2024	5.33%	2.33%
2023	4.15%	2.59%
2022	4.62%	3.45%
2021	3.96%	1.28%
2020	3.60%	1.32%
2019	3.88%	2.29%
2018	4.46%	3.32%
2017	4.11%	1.63%
2016	4.33%	1.48%
2015	4.59%	0.80%
2014	5.26%	0.53%
2013	3.39%	1.23%
2012	0.00%	0.68%
2011	0.00%	0.80%
2010	0.00%	0.34%
2009	0.00%	0.71%
2008	0.00%	0.67%