Evade and Counter: when your character is attacked by a physical attack, they will attempt to evade it and quickly counter back with a physical attack of their own.

In other words, it will increase your chances of evading an attack, but you will not be immune to physical attacks (an enemy may have very high accuracy so you can not evade the attack).

Therefore you cannot put evade and counter and counter-attack on the same weapon, because they essentially perform the same task, but evade and counter increases your evasion of physical attacks.