A reactor grade copolyester composition, as well as a heat-shrinkable film made therefrom, unexpectedly has higher ductility than a multi-component blend of copolyesters with the same monomer concentrations. The reactor grade copolyester composition is made from a diacid component of at least about 90 mole percent and a diol component of (a) about 72 to about 88 mole percent ethylene glycol, about 10 to about 15 mole percent 1,4-cyclohexanedimethanol, and about 2 to about 13 mole percent diethylene glycol, or (b) about 59 to about 77.5 mole percent ethylene glycol, about 15 to about 28 mole percent 1,4-cyclohexane-dimethanol, and about 7.5 to about 13 mole percent diethylene glycol. Further, the heat-shrinkable film may be produced to closely match the shrink characteristics of polyvinyl chloride by varying the amounts of the diol components of the reactor grade copolyester composition. Furthermore, a reactor grade copolyester composition has a b* color value of −1.0 to less than 4.5, wherein the diacid component is at least about 90 mole percent terephthalic acid and the diol component is about 52 to about 88 mole percent ethylene glycol, about 10 to about 28 mole percent 1,4-cyclohexane-dimethanol, and about 2 to about 20 mole percent diethylene glycol.