Answer: Yes, Euonymus alatus or burning bush is deciduous; it turns a brilliant red in the fall and then drops it leaves. Coloring is best in full sun. It is a large, upright growing, woody shrub, even the popular dwarf form "Compactus" can surpass eight feet tall and wide.
Euonymous fortunei is evergreen and many varieties are available including those with patterned foliage, some grow like bushes and some grow in a semi vining habit, climbing where there is a support. They are related but seem very different from the above.
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