ETY vs QLTY
Eaton Vance Tax-Managed Diversified Equity Income Fund vs GMO US Quality ETF
Which is better, ETY or QLTY?
QLTY has been ahead.
QLTY has a lower expense ratio. QLTY led over 1Y, 3Y and the full window. QLTY is less concentrated, with 45.5% 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 | ETY | QLTY |
|---|---|---|
| Expense Ratio | 1.06% | 0.50%Best |
| AUM | $1.8B | $5.4B |
| Dividend Yield | 7.52% | 0.66% |
| Holdings | 61 | 90 |
| YTD Return | -2.20% | +14.13%Best |
| 1Y Return | -2.84% | +20.95%Best |
| 3Y Return (annualized) | +15.48% | +21.84%Best |
| 5Y Return (annualized) | +8.08% | - |
| Volatility (annualized) | 12.0% | 11.9%Best |
| Max Drawdown | -21.3% | -17.0%Best |
| $10,000 over 2.9 years | $15,275 | $17,733Best |
| Top 10 Weight | 50.5% | 45.5%Best |
| Fund Family | Eaton Vance | GMO |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 27, 2006 | Nov 13, 2023 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 15, 2023 to Oct 14, 2026 (2.9 years).
ETY vs QLTY 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 2.9 years both funds cover.
ETY vs QLTY Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance and GMO US Quality ETF (QLTY) is an ETF from GMO. Over the past year ETY returned -2.84% while QLTY returned +20.95%. Year to date, ETY is down 2.20% versus a gain of 14.13% for QLTY.
Over three years, ETY compounded at +15.48% per year against +21.84% for QLTY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 11.9% for QLTY. 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 -21.3% for ETY and -17.0% for QLTY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETY charges 1.06% per year while QLTY charges 0.50%. On a $10,000 position that is $106 vs $50 annually, a gap of $56 per year that compounds over a long holding period. On income, ETY currently yields 7.52% against 0.66% for QLTY.
Holdings Overlap
52.1% of ETY's money is in holdings QLTY also owns. 52.0% of QLTY's money is in holdings ETY also owns.
The two portfolios partly overlap.
The two holdings books were reported 68 days apart, ETY as of Jul 31, 2026 and QLTY as of Oct 7, 2026, so some of the difference between them is the time between the two reports rather than the funds.
17 positions in common, counted across the 58 positions we hold weights for in ETY and 45 in QLTY, against full books of 61 and 90.
What only one of them owns
Our book lists 28 positions for QLTY that do not appear in our book for ETY (47.7% of the fund), and 35 for ETY that do not appear in QLTY (44.7%).
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 ETY | Weight in QLTY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.19% | 8.00% | 1.81% |
| NVDANvidia Corp | 9.28% | 3.30% | 5.98% |
| AAPLApple, Inc | 7.05% | 4.20% | 2.85% |
| AMZNAmazon.Com Inc | 5.50% | 3.50% | 2.00% |
| AVGOBroadcom Inc | 4.14% | 3.70% | 0.44% |
| METAMeta Platforms Inc | 2.35% | 4.80% | 2.45% |
| LRCXLam Research Corp | 1.61% | 4.20% | 2.59% |
| JNJJohnson & Johnson - Common | 1.58% | 4.10% | 2.52% |
| VVisa Inc Class A | 2.76% | 2.80% | 0.04% |
| LLYEli Lilly & Co. | 2.66% | 2.50% | 0.16% |
52.1% of ETY is already inside QLTY.
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, ETY or QLTY?
ETY has an expense ratio of 1.06% while QLTY charges 0.50%. QLTY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, ETY or QLTY?
Over the past year ETY returned -2.84% vs +20.95% for QLTY, so QLTY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETY or QLTY?
ETY has been the more volatile fund at 12.0% annualized versus 11.9% for QLTY. Worst drawdown: ETY -21.3% vs QLTY -17.0%.
Should I hold both ETY and QLTY?
ETY and QLTY have a monthly-return correlation of 0.86, 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 ETY and QLTY?
52.1% of ETY's money is in holdings QLTY also owns. 52.0% of QLTY's is in holdings ETY also owns. They hold 17 positions in common, counted across the 58 positions we hold weights for in ETY and 45 in QLTY.
Which pays a higher dividend, ETY or QLTY?
ETY yields 7.52% while QLTY yields 0.66%, so ETY currently pays the higher dividend yield.
Is QLTY better than ETY?
QLTY has a lower expense ratio. QLTY led over 1Y, 3Y and the full window. QLTY is less concentrated, with 45.5% 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.