ETF Evaluator:
Eaton Vance High Yield ETF ()
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(as of Aug 26)
Best Performing in High Yield Bond Over the Last Year
| 7.6% | Fidelity Sustainable High Yield ETF (FSYD) |
| 7.4% | Horizon Flexible Income ETF (FLXN) |
| 6.7% | iShares Interest Rate Hdg Hi Yld Bd ETF (HYGH) |
| 6.6% | Fidelity Enhanced High Yield ETF (FDHY) |
| 6.3% | Harbor Ares Systematic High-Yield ETF (SIHY) |
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ETF Details
Eaton Vance High Yield ETF Overview
Eaton Vance High Yield ETF (EVHY) is an actively managed Taxable Bond High Yield Bond exchange-traded fund (ETF). Eaton Vance ETFs launched the ETF in 2023.
The investment seeks to provide a high level of current income; growth of income and capital is the secondary consideration.
Under normal circumstances, at least 80% of the fund’s net assets (plus any borrowings for investment purposes) will be invested in high yield securities. The fund may invest up to 15% of its net assets in securities that are rated investment grade.
About Eaton Vance High Yield ETF (EVHY)
There are 5 members of the management team with an average tenure of 2.21 years: Brandon Matsui (2023), Justin Bourgette (2025), Stephen Concannon (2023), Jeffrey Mueller (2023) and Bo Hunt (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Universal TR USD index with a weighting of 100% and ICE BofA BB US High Yield TR USD index with a weighting of 100%. Eaton Vance High Yield ETF has 278 securities in its portfolio. The top 10 holdings constitute 10.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Eaton Vance High Yield ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Eaton Vance High Yield ETF has 8.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 2.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 95.6% (87.2% domestic bond, 8.5% foreign bond and 0.0% convertible bond). Eaton Vance High Yield ETF has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $23 million in total assets, which is below the $1 billion average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EVHY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Eaton Vance High Yield ETF expense ratio is average compared to funds in the High Yield Bond category. Eaton Vance High Yield ETF has an expense ratio of 0.48%, which is 20% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Eaton Vance High Yield ETF has a portfolio turnover rate of 29%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 69% for the High Yield Bond category.
Recently, in the month of July 2026, Eaton Vance High Yield ETF returned -0.2%, which earned it a grade of B, as the High Yield Bond category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Eaton Vance High Yield ETF has a trailing yield of 7.21%, which is above the 6.77% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Eaton Vance High Yield ETF Grades
Year to date, the ETF has returned 1.5%, 0.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 5.2% over the past year (grade of C).
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EVHY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EVHY Return (NAV) | -0.2% | 0.8% | 5.2% | na | na | na |
| EVHY Return (Price) | -0.1% | 0.8% | 5.5% | na | na | na |
| NAV +/- Price Return | -0.086% | -0.024% | -0.241% | na | na | na |
| High Yield Bond Avg | -0.2% | 0.5% | 5.0% | 7.8% | 3.8% | 5.0% |
| EVHY Grade (NAV) | B | A | C | na | na | na |
| +/- Category (NAV) | 0.1% | 0.2% | 0.3% | na | na | na |
| EVHY Tax-Cost Ratio | na | na | 2.8% | na | na | na |
EVHY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EVHY Return (NAV) | 1.5% | 9.0% | 6.4% | na | na | na | na | na | na | na | na |
| EVHY Return (Price) | 1.6% | 9.1% | 6.4% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.118% | 0.018% | -0.007% | na | na | na | na | na | na | na | na |
| High Yield Bond Avg | 1.7% | 8.4% | 7.5% | 12.4% | -10.1% | 4.2% | 6.1% | 13.4% | -2.3% | 7.1% | 13.0% |
| EVHY Grade (NAV) | D | B | D | na | na | na | na | na | na | na | na |
| +/- Category | -0.2% | 0.6% | -1.1% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 7.2% |
| Total Assets: | $ 23 Mil |
| Share Class Assets: | $ 23 Mil |
| Turnover: | 29.0% |
| Expense Ratio: | 0.48% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Universal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.8 years | |||
| Average Tenure: 2.2 years | |||
| Managers (Year): Matsui Brandon (2023), Concannon Stephen (2023), Mueller Jeffrey (2023), Hunt Bo (2025), Bourgette Justin (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 278 |
| % in Top 10 Holdings: | 10.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 2.0% |
| Domestic Bond: | 87.2% |
| Foreign Bond: | 8.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Eaton Vance ETFs |
| Phone Number: | 800-836-2414 |
| Website: | |
| Inception Date: | October 16, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.48% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.40% |
