Overview

Growth of $10,000

Since Fund inception as of 03/31/2015

  • Class A at NAV

Average Annual Returns (%)as of Jun 30, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -2.47 -0.98 0.49 3.73 16.65 11.32
Fund w/Max Sales Charge -8.06 -6.66 -5.29 -2.24 14.39 9.80
Russell 1000 Value Index1 -2.00 0.11 -0.61 4.13 17.34 16.49 12.84
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Fund Factsas of May 31, 2015

Class A Inception 03/07/2011
Investment Objective Total return
Total Net Assets $53.8M
Minimum Investment $1000
Expense Ratio (Gross)2 1.70%
Expense Ratio (Net)2,3 1.05%
CUSIP 277902532

Top 10 Holdings (%)4,5as of Mar 31, 2015

JPMorgan Chase & Co
Wells Fargo & Co
Citigroup Inc
Exxon Mobil Corp
CH Robinson Worldwide Inc
Medtronic PLC
Merck & Co Inc
Reynolds American Inc
Qualcomm Inc
Credit Suisse Group AG
Total 38.76


Portfolio Management

John D. Crowley Managed Fund since inception
Edward J. Perkin, CFA Managed Fund since 2014

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Average Annual Returns (%)as of Mar 31, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
05/31/2015
Fund at NAV 1.25 0.47 3.04 8.90 19.22 12.21
Fund w/Max Sales Charge -4.55 -5.29 -2.88 2.62 16.89 10.66
Russell 1000 Value Index1 1.20 0.76 1.41 9.03 20.06 15.61 13.65
Morningstar™ Large Value Category6 0.93 0.59 2.19 7.61 18.23 14.28
03/31/2015
Fund at NAV -1.04 1.49 1.49 9.03 15.92 12.33
Fund w/Max Sales Charge -6.72 -4.35 -4.35 2.78 13.66 10.70
Russell 1000 Value Index1 -1.36 -0.72 -0.72 9.33 16.44 13.75 13.65
Morningstar™ Large Value Category6 -1.39 0.18 0.18 7.86 14.42 12.25
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Calendar Year Returns (%)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Fund at NAV 17.62 32.17 9.94
Russell 1000 Value Index1 7.05 22.25 -0.17 -36.85 19.69 15.51 0.39 17.51 32.53 13.45

Fund Facts

Expense Ratio (Gross)2 1.70%
Expense Ratio (Net)2,3 1.05%
Class A Inception 03/07/2011
Distribution Frequency Annually


Risk Measures (3 Year)7as of Jun 30, 2015

Alpha (%) 1.18
Beta 0.89
R-Squared (%) 87.07
Standard Deviation (%) 8.48
Sharpe Ratio 1.96


Morningstar™ Ratingsas of May 31, 2015

Time Period Rating Rating (Load Waived) Funds in
Large Value
Category
Overall *** *** 1178
3 Years *** *** 1178
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Jul 01, 2015 $13.87 $0.07
Jun 30, 2015 $13.80 $0.03
Jun 29, 2015 $13.77 $-0.27
Jun 26, 2015 $14.04 $0.03
Jun 25, 2015 $14.01 $-0.03
Jun 24, 2015 $14.04 $-0.15
Jun 23, 2015 $14.19 $-0.01
Jun 22, 2015 $14.20 $0.08
Jun 19, 2015 $14.12 $-0.10
Jun 18, 2015 $14.22 $0.11

Distribution History8

Ex-Date Distribution Reinvest NAV
May 21, 2015 $0.01580 $14.26
Dec 11, 2014 $0.03950 $13.89
Sep 09, 2014 $0.02850 $14.79
Dec 12, 2013 $0.06790 $13.18
Aug 01, 2013 $0.01460 $12.94
Dec 13, 2012 $0.14140 $10.54
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History8

Ex-Date Short-Term Long-Term Reinvest NAV
May 21, 2015 $0.15420 $0.20160 $14.26
Dec 11, 2014 $0.18100 $0.57780 $13.89
Sep 09, 2014 $0.03530 $0.06430 $14.79
Dec 12, 2013 $0.03140 $0.23870 $13.18
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is as of month-end for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. For the Eaton Vance Fund's performance as of the most recent month-end, please refer to eatonvance.com. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns shown at NAV unless noted otherwise. Returns for other classes of shares offered by the Fund are different. It is not possible to invest in an index.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)5,9as of Mar 31, 2015

U.S. Common Stocks 88.13
Foreign Common Stocks 10.49
Cash & Other Assets 1.38
Total 100.00

Portfolio Statisticsas of Mar 31, 2015

Average Market Cap $113.7B
Price/Earnings Ratio 15.87
Number of Holdings 33
Price/Book Ratio 2.29


GICS Sector Breakdown (%)5as of Mar 31, 2015

Sector Fund Russell 1000 Value Index1
Consumer Discretionary 6.27 6.94
Consumer Staples 9.29 7.18
Energy 9.80 10.88
Financials 29.18 29.81
Health Care 15.78 14.73
Industrials 8.93 10.19
Information Technology 8.09 8.98
Materials 2.79 3.05
Telecom Services 2.47 2.07
Utilities 6.01 6.18
Cash 1.39 0.00

Assets by Country (%)5as of Mar 31, 2015

United States 88.13
Switzerland 5.01
Ireland 3.23
Israel 2.25
Cash & Other Assets 1.38
Total 100.00


Fund Holdings (%)5,10as of May 31, 2015

Holding % of Net Assets
JPMorgan Chase & Co 5.08%
Wells Fargo & Co 4.59%
Citigroup Inc 4.18%
Exxon Mobil Corp 3.94%
General Electric Co 3.79%
Reynolds American Inc 3.61%
Merck & Co Inc 3.45%
Qualcomm Inc 3.23%
XL Group PLC 3.15%
United Technologies Corp 3.05%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Insights & analysis

Quarterly Commentary

No commentary information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Attribution

No attribution information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography
John D. Crowley

John D. Crowley

Vice President, Eaton Vance Management
Joined Eaton Vance 1998

John Crowley is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s value team. In addition, he serves as lead portfolio manager of Eaton Vance’s focused value strategy. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s value equity strategies. He is a member of the firm’s Equity Strategy Committee. He began his career in the investment management industry with Eaton Vance in 1998.

John earned a B.A. and an M.A. from The Catholic University of America and an MBA from Babson College. He is a member of the CFA Institute and the Boston Security Analysts Society.

Education
  • B.A.,M.A. Catholic University of America
  • M.B.A. F.W. Olin Graduate School of Business, Babson College
Experience
  • Managed Fund since inception
Biography
Edward J. Perkin, CFA

Edward J. Perkin, CFA

Vice President, Chief Equity Investment Officer
Eaton Vance Management
Joined Eaton Vance 2014

Eddie Perkin is a vice president of Eaton Vance Management, chief equity investment officer and team leader of Eaton Vance’s value team. Additionally, he serves as lead portfolio manager of Eaton Vance’s Large-Cap Value strategy. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s large-cap value equity portfolios. He is head of the firm’s Equity Strategy Committee. He joined Eaton Vance in April 2014.

Eddie began his career in the investment management industry in 1995. Before joining Eaton Vance, he served as chief investment officer (international and emerging-market equity) as well as managing director/portfolio manager (Europe, EAFE and global) at Goldman Sachs Asset Management (GSAM) in London. Before relocating to London in 2008, Eddie was a portfolio manager and analyst on GSAM’s U.S. value equity team in New York. Eddie was previously associated with FISERV and American Retirement Insurance Services.

Eddie earned a B.A. from the University of California, Santa Barbara, and an MBA from Columbia Business School. He is a CFA charterholder and is a member of the board of directors of Junior Achievement of Northern New England.

Education
  • B.A. University of California, Santa Barbara
  • M.B.A. Columbia University
Experience
  • Managed Fund since 2014

Fund Literature

Fund Literature

Annual Report

Fact Sheet

Full Prospectus

Holdings-1st or 3rd fiscal quarters-www.sec.gov

SAI

Think Performance Think Eaton Vance

Semi-Annual Report

Summary Prospectus


 

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    The value of investment funds and the income therefrom may go down as well as up and you may not get back the original amount invested. Your capital could be at risk. You are not certain to make money from your investments and you may lose money. Exchange rates may cause the value of overseas investments and the income therefrom to rise and fall.

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