BAFE vs ETY
Brown Advisory Flexible Equity ETF vs Eaton Vance Tax-Managed Diversified Equity Income Fund
Which is better, BAFE or ETY?
BAFE has been ahead.
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. BAFE is less concentrated, with 45.4% of the fund in its ten largest positions against 50.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAFE | ETY |
|---|---|---|
| Expense Ratio | 0.54%Best | 1.06% |
| AUM | $1.8B | $1.8B |
| Dividend Yield | 0.27% | 7.52% |
| Holdings | 90 | 61 |
| YTD Return | +9.97%Best | -2.20% |
| 1Y Return | +12.65%Best | -2.84% |
| 3Y Return (annualized) | - | +15.48% |
| 5Y Return (annualized) | - | +8.08% |
| Volatility (annualized) | 13.2% | 12.9%Best |
| Max Drawdown | -18.4%Best | -21.3% |
| $10,000 over 1.9 years | $12,035Best | $10,934 |
| Top 10 Weight | 45.4%Best | 50.5% |
| Fund Family | Brown Advisory | Eaton Vance |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2024 | Nov 27, 2006 |
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Nov 18, 2024 to Oct 14, 2026 (1.9 years).
BAFE vs ETY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
BAFE vs ETY Performance
Brown Advisory Flexible Equity ETF (BAFE) is an ETF from Brown Advisory and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance. Over the past year BAFE returned +12.65% while ETY returned -2.84%. Year to date, BAFE is up 9.97% versus a loss of 2.20% for ETY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BAFE has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 12.9% for ETY. 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 -18.4% for BAFE and -21.3% for ETY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BAFE charges 0.54% per year while ETY charges 1.06%. On a $10,000 position that is $54 vs $106 annually, a gap of $52 per year that compounds over a long holding period. On income, BAFE currently yields 0.27% against 7.52% for ETY.
Holdings Overlap
35.0% of BAFE's money is in holdings ETY also owns. 44.5% of ETY's money is in holdings BAFE also owns.
The two portfolios partly overlap.
The two holdings books were reported 62 days apart, BAFE as of Oct 1, 2026 and ETY as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
10 positions in common, counted across the 42 positions we hold weights for in BAFE and 58 in ETY, against full books of 90 and 61.
What only one of them owns
Our book lists 42 positions for ETY that do not appear in our book for BAFE (52.3% of the fund), and 27 for BAFE that do not appear in ETY (47.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BAFE | Weight in ETY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 3.84% | 9.28% | 5.44% |
| MSFTMicrosoft Corp | 6.49% | 6.19% | 0.30% |
| GOOGAlphabet Inc. C | 3.54% | 7.02% | 3.48% |
| AMZNAmazon.Com Inc | 4.42% | 5.50% | 1.08% |
| AAPLApple, Inc | 1.90% | 7.05% | 5.15% |
| VVisa Inc Class A | 4.22% | 2.76% | 1.46% |
| METAMeta Platforms Inc | 4.60% | 2.35% | 2.25% |
| UNHUnitedhealth Group, Inc. | 2.82% | 1.80% | 1.02% |
| ADIAnalog Devices, Inc. | 1.99% | 1.27% | 0.72% |
| TJXTjx Cos., Inc. | 1.18% | 1.30% | 0.12% |
44.5% of ETY is already inside BAFE.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAFE or ETY?
BAFE has an expense ratio of 0.54% while ETY charges 1.06%. BAFE is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, BAFE or ETY?
Over the past year BAFE returned +12.65% vs -2.84% for ETY, so BAFE leads on 1-year performance. Over the longest common window we track (2 years), BAFE annualized +10.24% vs +4.81% for ETY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BAFE or ETY?
BAFE has been the more volatile fund at 13.2% annualized versus 12.9% for ETY. Worst drawdown: BAFE -18.4% vs ETY -21.3%.
Should I hold both BAFE and ETY?
BAFE and ETY have a monthly-return correlation of 0.89, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BAFE and ETY?
44.5% of ETY's money is in holdings BAFE also owns. 44.5% of ETY's is in holdings BAFE also owns. They hold 10 positions in common, counted across the 42 positions we hold weights for in BAFE and 58 in ETY.
Which pays a higher dividend, BAFE or ETY?
BAFE yields 0.27% while ETY yields 7.52%, so ETY currently pays the higher dividend yield.
Is ETY better than BAFE?
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. BAFE is less concentrated, with 45.4% of the fund in its ten largest positions against 50.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.