Overview

Global Small-Cap exposure can be critical for building a diversified portfolio.1

Non-U.S. companies have continued to become a greater presence in the world markets. Many observers view small-cap stocks as providing better exposure to the local economic drivers for each country.

  • World ex U.S.
  • United States

Not based on the return of any specific fund.

Average Annual Returns (%) as of Sep 30, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -5.43 -6.21 -0.09 5.14 10.60
Russell Global 2000 Index2 -5.99 -6.66 -1.77 3.88 15.31 10.36 11.89
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.

Fund Facts as of Sep 30, 2014

Institutional Class Inception 12/20/2012
Investment Objective Long-term capital appreciation
Total Net Assets $6.0M
Minimum Investment $50000
Expense Ratio (Gross)3 3.72%
Expense Ratio (Net)3,4 0.86%
CUSIP 27826A607

Top 10 Holdings (%)5,6 as of Sep 30, 2014

Targa Resources Corp.
Puma Biotechnology Inc.
Ulta Salon, Cosmetics & Fragrance Inc.
Signet Jewelers Limited
Foot Locker Inc.
Hanesbrands Inc.
Inmarsat PLC
Endo International PLC
CoStar Group Inc.
Ingenico SA
Total 3.76


Portfolio Management

David Stein, Ph.D. Managed Fund since inception
Thomas Seto Managed Fund since inception
Paul Bouchey, CFA Managed Fund since 2014

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

About Risk 

Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. 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 Sep 30, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -5.43 -6.21 -0.09 5.14 10.60
Russell Global 2000 Index2 -5.99 -6.66 -1.77 3.88 15.31 10.36 11.89
Morningstar™ World Stock Category7 -3.32 -3.27 2.26 9.78 16.68 10.46
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.

Calendar Year Returns (%)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Fund at NAV 19.79
Russell Global 2000 Index2 24.96 14.55 23.11 9.56 -44.35 45.30 24.13 -11.94 17.90 24.49

Fund Facts

Expense Ratio (Gross)3 3.72%
Expense Ratio (Net)3,4 0.86%
Institutional Class Inception 12/20/2012
Distribution Frequency Annually


NAV History

Date NAV NAV Change
Oct 29, 2014 $11.32 $-0.04
Oct 28, 2014 $11.36 $0.19
Oct 27, 2014 $11.17 $-0.04
Oct 24, 2014 $11.21 $0.02
Oct 23, 2014 $11.19 $0.11
Oct 22, 2014 $11.08 $-0.05
Oct 21, 2014 $11.13 $0.15
Oct 20, 2014 $10.98 $0.11
Oct 17, 2014 $10.87 $0.10
Oct 16, 2014 $10.77 $0.01

Distribution History8

Ex-Date Distribution Reinvest NAV
Dec 26, 2013 $0.18830 $11.23
Aug 01, 2013 $0.06910 $11.01
Dec 28, 2012 $0.00400 $9.88
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
Dec 26, 2013 $0.33740 $11.23
Aug 01, 2013 $0.02000 $11.01
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 

Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. 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 as of Sep 30, 2014

Foreign Common Stocks 63.57
U.S. Common Stocks 35.26
Cash & Equivalents 1.17
Total 100.00

Portfolio Statistics as of Sep 30, 2014

Median Market Cap $1.5B
Price/Earnings Ratio 18.67
Number of Holdings 1028
Price/Book Ratio 2.32
Countries Represented 39


GICS Sector Breakdown (%)5 as of Sep 30, 2014

Sector Fund Russell Global 2000 Index2
Consumer Discretionary 12.45 14.92
Consumer Staples 8.67 5.48
Energy 7.64 5.22
Financials 12.85 22.95
Health Care 11.40 8.20
Industrials 12.73 17.32
Information Technology 12.28 14.50
Materials 11.89 7.38
Telecom Services 3.04 0.75
Utilities 5.90 3.27
Cash 1.17 0.00

Assets by Country (%)5 as of Sep 30, 2014

US 35.68
Japan 7.23
UK 6.96
Korea 3.80
France 3.57
Germany 3.54
Switzerland 3.52
Canada 3.42
Australia 3.31
China 3.05
View All


Geographic Mix (%)5 as of Sep 30, 2014

United States 35.68
Europe 22.96
Asia/Pacific 18.03
Japan 7.23
United Kingdom 6.96
Latin America 2.98
Eastern Europe 1.01
Middle East 0.87
Africa 0.86


Fund Holdings (%)5,9 as of Aug 31, 2014

Holding % of Net Assets
EV Cash Reserves Fund 0.46%
Targa Resources Corp 0.46%
Puma Biotechnology Inc 0.44%
Signet Jewelers Ltd 0.37%
Foot Locker Inc 0.35%
Inmarsat PLC 0.35%
Diamondback Energy Inc 0.32%
Hanesbrands Inc 0.32%
Lear Corp 0.32%
Givaudan SA 0.31%
View All

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

About Risk 

Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. 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 available.

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

About Risk 

Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. 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 available.

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

About Risk 

Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. 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
David Stein, Ph.D.

David Stein, Ph.D.

Chief Investment Officer
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 1996

David Stein is chief investment officer of Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp., leading the firm's investment, research and technology activities. He maintains a focus on Parametric's intellectual capital, and is dedicated to advancing the art and science of investment management in the presence of taxes.

David's experience in the investment industry dates to 1987. Prior to joining Parametric in 1996, he held senior research, development and portfolio management positions at GTE Investment Management Corp., The Vanguard Group and IBM Retirement Funds. He has additional experience as a research scientist with IBM Research Laboratories, where he designed computer hardware and software systems.

David earned both a B.S. and an M.S. from the University of Witwatersrand, South Africa, and a Ph.D. in applied mathematics from Harvard University.

David holds a number of patents and is published in multiple academic journals, including Mathematics of Operations Research, The Journal of Wealth Management and the Journal of Portfolio Management, among others. He is on the After-Tax Subcommittee of the AIMR-PPS standards committee and on the advisory board of the Journal of Wealth Management.

Education
  • B.S. and M.S., University of Witwatersrand, South Africa
  • Ph.D. Harvard University
Experience
  • Managed Fund since inception
Biography
Thomas Seto

Thomas Seto

Managing Director - Portfolio Management and Trading
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 1998

Tom Seto is managing director of portfolio management and a portfolio manager at Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He is responsible for all portfolio management activity at Parametric, including tax-managed core, OverlayOne and institutional structured equity strategies.

Prior to joining Parametric in 1998, Tom served as the head of U.S. Equity Index Investments at Barclays Global Investors, where he was responsible for portfolio management of all U.S. equity index strategies.

Tom earned a B.S. in electrical engineering from the University of Washington in 1985 and an M.B.A. in finance from the University of Chicago Booth School of Business in 1991.

Education
  • B.S. University of Washington
  • M.B.A Booth School of Business, University of Chicago
Experience
  • Managed Fund since inception
Biography
Paul Bouchey, CFA

Paul Bouchey, CFA

Managing Director
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2005

Paul Bouchey is managing director–research of Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He leads the research team, and is responsible for setting the research agenda and overseeing new product development.

Paul joined Parametric in 2005 as a senior research analyst. Previously, he was a senior quantitative research analyst with Russell Investment Group from 1994 to 2005. During his 10 years with Russell, he focused on the research and development of simulation, optimization and other quantitative decision models for institutional and private clients.

Paul earned a B.A. in mathematics and physics from Whitman College in 1993 and an M.S. in computational finance and risk management from the University of Washington. He is a CFA charterholder (1999). Paul holds a patent on cross-sectional volatility indexing and has authored more than 10 academic and practitioner articles in journals such as The Journal of Wealth Management, Investments and Wealth Monitor and The Journal of Index Investing.

Education
  • B.A. Whitman College
  • M.S. University of Washington
Experience
  • Managed Fund since 2014

Fund Literature

Fund Literature

Annual Report

Fact Sheet

Full Prospectus

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

Timothy Atwill on Systematic Alpha Investing

SAI

Semi-Annual Report

Summary Prospectus

XBRL


 

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