ETF Evaluator:
Eaton Vance Mortgage Opportunities ETF ()
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(as of Aug 26)
Best Performing in Securitized Bond - Diversified Over the Last Year
| 6.5% | Obra Opportunistic Structured Prdcts ETF (OOSP) |
| 5.6% | iShares Securitized Income Active ETF (SECU) |
| 5.2% | Obra High Grade Structured Products ETF (OGSP) |
| 5.0% | Touchstone Securitized Income ETF (TSEC) |
| 4.8% | Eaton Vance Mortgage Opportunities ETF (EVMO) |
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Risk
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ETF Details
Eaton Vance Mortgage Opportunities ETF Overview
Eaton Vance Mortgage Opportunities ETF (EVMO) is an actively managed Taxable Bond Securitized Bond - Diversified exchange-traded fund (ETF). Eaton Vance ETFs launched the ETF in 1997.
The investment seeks a high level of current income.
The fund normally invests at least 80% of its assets in mortgage-related securities. These mortgage-related securities may include mortgage-backed securities such as mortgage pass-through securities, collateralized mortgage obligations ("CMOs"), stripped mortgage-backed securities ("SMBS"), commercial mortgage-backed securities ("CMBS") and inverse floating rate obligations ("inverse floaters"). It may invest up to 50% of its net assets in high yield securities (commonly referred to as "junk bonds").
About Eaton Vance Mortgage Opportunities ETF (EVMO)
There are 4 members of the management team with an average tenure of 4.39 years: Brandon Matsui (2025), Andrew Szczurowski (2025), Gregory Finck (2015) and Matt Buckley (2022). 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 Bloomberg US MBS TR USD index with a weighting of 100%. Eaton Vance Mortgage Opportunities ETF has 713 securities in its portfolio. The top 10 holdings constitute 18.1% 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 Mortgage Opportunities ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Eaton Vance Mortgage Opportunities ETF has 6.9% 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 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 100.4% (93.5% domestic bond, 6.9% foreign bond and 0.0% convertible bond). Eaton Vance Mortgage Opportunities ETF has -0.4% of the portfolio in cash.
Assets Under Management
The fund has $856 million in total assets, which is below the $912 million average for the Securitized Bond - Diversified 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.
EVMO 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 Mortgage Opportunities ETF expense ratio is average compared to funds in the Securitized Bond - Diversified category. Eaton Vance Mortgage Opportunities ETF has an expense ratio of 0.45%, which is 8% 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 Mortgage Opportunities ETF has a portfolio turnover rate of 105%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 154% for the Securitized Bond - Diversified category.
Recently, in the month of July 2026, Eaton Vance Mortgage Opportunities ETF returned -0.8%, which earned it a grade of C, as the Securitized Bond - Diversified category had an average return of -0.4%. 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 Mortgage Opportunities ETF has a trailing yield of 5.00%, which is below the 5.35% category average.
The fund normally distributes its income monthly and its capital gains annually.
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 Mortgage Opportunities ETF Grades
Year to date, the ETF has returned 0.7%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 4.8% over the past year (grade of B), 7.3% over the past three years (grade of A) and 3.1% per year over the past five years (grade of B) and 3.7% per year over the past 10 years (grade of A).
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EVMO 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 |
|
| EVMO Return (NAV) | -0.8% | -0.2% | 4.8% | 7.3% | 3.1% | 3.7% |
| EVMO Return (Price) | -0.4% | -0.1% | 5.0% | 7.4% | 3.1% | 3.8% |
| NAV +/- Price Return | -0.379% | -0.062% | -0.186% | -0.063% | -0.036% | -0.018% |
| Securitized Bond - Diversified Avg | -0.4% | 0.2% | 4.5% | 5.8% | 1.6% | 2.7% |
| EVMO Grade (NAV) | C | C | B | A | B | A |
| +/- Category (NAV) | -0.3% | -0.3% | 0.3% | 1.5% | 1.5% | 1.0% |
| EVMO Tax-Cost Ratio | na | na | 2.0% | 2.1% | 2.0% | 1.7% |
EVMO Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EVMO Return (NAV) | 0.7% | 9.3% | 6.8% | 8.7% | -8.4% | 1.1% | 3.6% | 6.7% | 2.1% | 6.8% | 5.9% |
| EVMO Return (Price) | 0.6% | 9.6% | 6.8% | 8.7% | -8.4% | 1.1% | 3.6% | 6.7% | 2.1% | 6.8% | 5.9% |
| NAV +/- Price Ret | -0.120% | 0.031% | 0.000% | 0.000% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Securitized Bond - Diversified Avg | 1.1% | 7.6% | 5.1% | 6.6% | -10.6% | 1.3% | 2.9% | 5.9% | 1.6% | 3.7% | 3.0% |
| EVMO Grade (NAV) | C | A | B | A | B | C | D | B | A | A | A |
| +/- Category | -0.3% | 1.7% | 1.7% | 2.1% | 2.2% | -0.3% | 0.7% | 0.7% | 0.5% | 3.1% | 2.9% |
| Risk Measures | |
| Beta: | 0.75 |
| R-Squared: | 97% |
| Standard Deviation: | 4.3% |
| Category Risk Index: | 0.95 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.35 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 5.0% |
| Total Assets: | $ 856 Mil |
| Share Class Assets: | $ 856 Mil |
| Turnover: | 105.0% |
| Expense Ratio: | 0.45% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Universal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 11.6 years | |||
| Average Tenure: 4.4 years | |||
| Managers (Year): Finck Gregory (2015), Buckley Matt (2022), Szczurowski Andrew (2025), Matsui Brandon (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 713 |
| % in Top 10 Holdings: | 18.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 93.5% |
| Foreign Bond: | 6.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Eaton Vance ETFs |
| Phone Number: | 800-869-6397 |
| Website: | |
| Inception Date: | July 28, 1997 |
Expenses and Fees
| Expense Ratio (%): | 0.45% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.41% |
