ETY vs SPY

Comparison between Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed ETY, delivering a return of +13.3% compared to +10.7%

ETY vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ETY(ETF)	SPY(ETF)
Net Assets	$2.30B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	64.57%	56.47%
Sharpe Ratio	0.84	2.07
5Y Beta	0.94	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	4.98%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

ETY

$2.30B

Winner

SPY

$652B

Expense Ratio

ETY

N/A

SPY

0.09%

Max Drawdown

ETY

64.57%

Winner

SPY

56.47%

Sharpe Ratio

ETY

0.84

Winner

SPY

2.07

5Y Beta

Winner

ETY

0.94

SPY

1.00

P/E Ratio

ETY

N/A

SPY

28.24

Forward P/E

ETY

N/A

SPY

21.85

5Y Dividends CAGR

ETY

4.98%

Winner

SPY

5.43%

5Y EPS CAGR

ETY

N/A

SPY

25.79%

Debt to Equity

ETY

N/A

SPY

22.35%

P/S Ratio

ETY

N/A

SPY

3.55

P/B Ratio

ETY

N/A

SPY

5.29

ETY vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	ETY	SPY
1 month	+6.58%	+9.11%
3 months	+1.80%	+6.59%
6 months	+0.85%	+10.56%
1 year	+13.62%	+32.04%
5 years(CAGR)	+10.72%	+13.35%
10 years(CAGR)	+13.00%	+15.49%
Max(CAGR)	+8.72%	+8.50%

ETY

+6.58%

Winner

SPY

+9.11%

ETY

+1.80%

Winner

SPY

+6.59%

ETY

+0.85%

Winner

SPY

+10.56%

ETY

+13.62%

Winner

SPY

+32.04%

5Y(CAGR)

ETY

+10.72%

Winner

SPY

+13.35%

10Y(CAGR)

ETY

+13.00%

Winner

SPY

+15.49%

Max(CAGR)

Winner

ETY

+8.72%

SPY

+8.50%

ETY vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	ETY	SPY
2026	+0.85%	+8.27%
2025	+11.01%	+18.00%
2024	+35.10%	+25.59%
2023	+21.52%	+26.72%
2022	-20.72%	-18.64%
2021	+34.82%	+30.52%
2020	+6.29%	+17.28%
2019	+31.23%	+31.09%
2018	-10.18%	-5.24%
2017	+29.36%	+20.78%
2016	+4.62%	+13.59%
2015	+9.12%	+1.31%
2014	+12.87%	+14.56%
2013	+25.11%	+29.00%
2012	+16.30%	+14.17%
2011	-13.08%	+0.85%
2010	-2.81%	+13.14%
2009	+36.46%	+22.67%
2008	-25.83%	-36.25%
2007	-8.21%	+5.32%
2006	+0.25%	+13.85%
2005	N/A	+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%

ETY vs SPY Drawdown Comparison

The maximum drawdown for ETY was -52.91%, occurring on Nov 20, 2008. Recovery took 1419 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current ETY drawdown is -1.75%.

Rank	ETY	SPY
#1	-52.91% Jun 1, 2007 - Jan 18, 2013	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-42.40% Feb 12, 2020 - Nov 17, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-24.43% Sep 13, 2018 - Jun 20, 2019	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-24.03% Dec 31, 2021 - Feb 5, 2024	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-21.28% Feb 19, 2025 - Jun 25, 2025	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-14.39% Sep 22, 2025 - Mar 30, 2026	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-13.90% Nov 3, 2015 - Aug 5, 2016	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-12.52% Sep 3, 2014 - Nov 5, 2014	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-11.93% Jul 20, 2015 - Nov 3, 2015	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-8.97% Jan 26, 2018 - May 8, 2018	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-8.63% Sep 8, 2016 - Jan 26, 2017	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-8.09% May 21, 2013 - Jul 15, 2013	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-7.21% Jul 10, 2024 - Aug 30, 2024	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-6.77% Nov 28, 2014 - Feb 27, 2015	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-6.17% Jan 22, 2014 - Feb 18, 2014	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between ETY and SPY is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.

1.00

-101

Dividend Comparison (1999 - 2026)

ETY vs SPY dividend yield comparison.

Year	ETY	SPY
2026	2.65%	0.24%
2025	7.76%	1.07%
2024	7.59%	1.21%
2023	7.92%	1.40%
2022	10.04%	1.65%
2021	7.01%	1.20%
2020	8.26%	1.52%
2019	8.08%	1.75%
2018	9.92%	2.04%
2017	8.30%	1.80%
2016	9.77%	2.03%
2015	9.03%	2.06%
2014	9.06%	1.87%
2013	9.26%	1.81%
2012	11.19%	2.18%
2011	13.06%	2.05%
2010	14.35%	1.80%
2009	14.09%	1.95%
2008	17.11%	3.02%
2007	11.13%	1.85%
2006	0.00%	1.73%
2005	0.00%	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%