ETF Evaluator:
Eaton Vance High Income Municipal ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in High Yield Muni Over the Last Year
| 10.8% | VanEck CEF Municipal Income ETF (XMPT) |
| 9.9% | Eaton Vance High Income Municipal ETF (EVYM) |
| 9.5% | Rockefeller Opportunistic Muncpl Bd ETF (RMOP) |
| 9.0% | Nomura National Hi-Yld Muncpl Bd ETF (HTAX) |
| 8.8% | Franklin Municipal High Yield ETF (FTMH) |
Risk
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Risk
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ETF Details
Eaton Vance High Income Municipal ETF Overview
Eaton Vance High Income Municipal ETF (EVYM) is an actively managed Municipal Bond High Yield Muni exchange-traded fund (ETF). Eaton Vance ETFs launched the ETF in 2025.
The investment seeks to provide high current income exempt from regular federal income tax.
Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations, the interest on which is exempt from regular federal income tax. The fund will primarily invest in “high yield” municipal obligations under normal market conditions.
About Eaton Vance High Income Municipal ETF (EVYM)
There are 4 members of the management team with an average tenure of 1.43 years: Brandon Matsui (2025), Trevor Smith (2025), Bill Delahunty (2025) and Carl Thompson (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Eaton Vance High Income Municipal ETF has 122 securities in its portfolio. The top 10 holdings constitute 18.3% 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 Income Municipal ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. Eaton Vance High Income Municipal ETF has 2.2% 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 98.6% (96.4% domestic bond, 2.2% foreign bond and 0.0% convertible bond). Eaton Vance High Income Municipal ETF has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $57 million in total assets, which is below the $990 million average for the High Yield Muni 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.
EVYM 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 Income Municipal ETF expense ratio is average compared to funds in the High Yield Muni category. Eaton Vance High Income Municipal ETF has an expense ratio of 0.40%, which is 33% lower 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 Income Municipal ETF has a portfolio turnover rate of 82%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 38% for the High Yield Muni category.
Recently, in the month of July 2026, Eaton Vance High Income Municipal ETF returned -1.6%, which earned it a grade of C, as the High Yield Muni category had an average return of -1.8%. 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 Income Municipal ETF has a trailing yield of 4.89%, which is above the 4.58% 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 High Income Municipal ETF Grades
Year to date, the ETF has returned 2.9%, 1.0 percentage points better than the category, which translates into a grade of A. The fund has returned 9.9% over the past year (grade of A).
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EVYM 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 |
|
| EVYM Return (NAV) | -1.6% | 0.7% | 9.9% | na | na | na |
| EVYM Return (Price) | -1.8% | 0.5% | 9.9% | na | na | na |
| NAV +/- Price Return | 0.153% | 0.251% | -0.065% | na | na | na |
| High Yield Muni Avg | -1.8% | 0.3% | 7.4% | 4.8% | 0.2% | 2.2% |
| EVYM Grade (NAV) | C | A | A | na | na | na |
| +/- Category (NAV) | 0.2% | 0.4% | 2.4% | na | na | na |
| EVYM Tax-Cost Ratio | na | na | 0.0% | na | na | na |
EVYM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EVYM Return (NAV) | 2.9% | na | na | na | na | na | na | na | na | na | na |
| EVYM Return (Price) | 2.7% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.057% | na | na | na | na | na | na | na | na | na | na |
| High Yield Muni Avg | 1.9% | 4.1% | 5.5% | 6.4% | -14.8% | 6.0% | 3.9% | 10.4% | 1.1% | 7.1% | 0.7% |
| EVYM Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 1.0% | na | na | 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: | 4.9% |
| Total Assets: | $ 58 Mil |
| Share Class Assets: | $ 58 Mil |
| Turnover: | 82.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | No |
| Index Tracked: | N/A |
| 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: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Matsui Brandon (2025), Smith Trevor (2025), Delahunty Bill (2025), Thompson Carl (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 122 |
| % in Top 10 Holdings: | 18.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 96.4% |
| Foreign Bond: | 2.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Eaton Vance ETFs |
| Phone Number: | 800-836-2414 |
| Website: | |
| Inception Date: | February 25, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.60% |
