EVMO vs SPY
EVMO vs SPY
Eaton Vance Mortgage Opportunities ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EVMO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | - | 1.01% | |
| Holdings | 726 | 505 | |
| YTD Return | +0.84% | +11.49% | |
| 1Y Return | +4.16% | +21.37% | |
| 3Y Return (annualized) | - | +20.76% | |
| 5Y Return (annualized) | - | +12.94% | |
| Volatility (annualized) | 2.3% | 15.3% | |
| Max Drawdown | -1.9% | -56.5% | |
| Fund Family | Eaton Vance | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 31, 1987 | Jan 22, 1993 |
EVMO vs SPY Performance
Eaton Vance Mortgage Opportunities ETF (EVMO) is a ETF from Eaton Vance and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EVMO returned +4.16% while SPY returned +21.37%. Year to date, EVMO is up 0.84% versus a gain of 11.49% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.3% for EVMO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -1.9% for EVMO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVMO charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period.
Holdings Overlap
EVMO and SPY share 0 holdings out of 560 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EVMO or SPY?
EVMO has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, EVMO or SPY?
Over the past year EVMO returned +4.16% vs +21.37% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, EVMO or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.3% for EVMO. Worst drawdown: EVMO -1.9% vs SPY -56.5%.
Should I hold both EVMO and SPY?
EVMO and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVMO and SPY?
EVMO and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 560 unique securities.
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