Portfolio Diversification
Hedging Rising RatesOverview
| 3 Months | YTD | 1 Year | 3 Years | 5 Years | Life of Fund | |
| 4/30/2012 | ||||||
|---|---|---|---|---|---|---|
| Fund at NAV | 0.40 | 0.90 | — | — | — | 0.80 |
| BofA Merrill Lynch 3-Month U.S. Treasury Bill Index1 | 0.02 | 0.01 | 0.05 | 0.13 | 1.14 | 0.01 |
| 3/31/2012 | ||||||
| Fund at NAV | 0.80 | 0.80 | — | — | — | 0.70 |
| BofA Merrill Lynch 3-Month U.S. Treasury Bill Index1 | 0.01 | 0.01 | 0.06 | 0.13 | 1.23 | 0.01 |
| 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. | ||||||
| Class I Inception | 10/31/2011 |
| Investment Objective | Total return |
| Total Net Assets of Fund | $10.7M |
| Minimum Investment | $250000 |
| Expense Ratio (Gross)2 | 1.45% |
| Expense Ratio (Net)2,3 | 1.30% |
| CUSIP | 277923181 |
| David Stein, Ph.D | Managed Fund since inception | ||
| Thomas Seto | Managed Fund since inception | ||
About Risk
Fund share values are sensitive to stock market volatility. The value of the Fund's foreign currency investments increase in value when the U.S. dollar is weak or when foreign currencies in which the Fund invests are strong. The value of the Fund's investments will go down when the U.S. dollar is strong or when foreign currencies in which the Fund invests are weak. The value of foreign currencies as measured in U.S. dollars may be unpredictably affected by changes in foreign currency rates and exchange control regulations, application of foreign tax laws, governmental administration of economic or monetary policies, intervention by U.S. or foreign governments or central banks, and relations between nations. 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. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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
| 3 Months | YTD | 1 Year | 3 Years | 5 Years | Life of Fund | |
| 4/30/2012 | ||||||
|---|---|---|---|---|---|---|
| Fund at NAV | 0.40 | 0.90 | — | — | — | 0.80 |
| BofA Merrill Lynch 3-Month U.S. Treasury Bill Index1 | 0.02 | 0.01 | 0.05 | 0.13 | 1.14 | 0.01 |
| 3/31/2012 | ||||||
| Fund at NAV | 0.80 | 0.80 | — | — | — | 0.70 |
| BofA Merrill Lynch 3-Month U.S. Treasury Bill Index1 | 0.01 | 0.01 | 0.06 | 0.13 | 1.23 | 0.01 |
| 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. | ||||||
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | |
| Fund at NAV | — | — | — | — | — | — | — | — | — | — |
| BofA Merrill Lynch 3-Month U.S. Treasury Bill Index1 | 1.78 | 1.15 | 1.33 | 3.06 | 4.83 | 5.03 | 2.06 | 0.21 | 0.13 | 0.10 |
| Expense Ratio (Gross)2 | 1.45% |
| Expense Ratio (Net)2,3 | 1.30% |
| Class I Inception | 10/31/2011 |
| Date | NAV | NAV Change |
| May 15, 2012 | $10.09 | $-0.01 |
| May 14, 2012 | $10.10 | $-0.02 |
| May 11, 2012 | $10.12 | $0.02 |
| May 10, 2012 | $10.10 | $-0.01 |
| May 09, 2012 | $10.11 | $0.00 |
| May 08, 2012 | $10.11 | $0.00 |
| May 07, 2012 | $10.11 | $0.03 |
| May 04, 2012 | $10.08 | $0.00 |
| May 03, 2012 | $10.08 | $-0.02 |
| May 02, 2012 | $10.10 | $0.01 |
| Ex-Date | Distribution | Reinvest NAV |
|
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years. Fund prospectus |
||
| Ex-Date | Short-Term | Long-Term | Reinvest NAV |
|
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 www.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. |
About Risk
Fund share values are sensitive to stock market volatility. The value of the Fund's foreign currency investments increase in value when the U.S. dollar is weak or when foreign currencies in which the Fund invests are strong. The value of the Fund's investments will go down when the U.S. dollar is strong or when foreign currencies in which the Fund invests are weak. The value of foreign currencies as measured in U.S. dollars may be unpredictably affected by changes in foreign currency rates and exchange control regulations, application of foreign tax laws, governmental administration of economic or monetary policies, intervention by U.S. or foreign governments or central banks, and relations between nations. 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. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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
No portfolio information is available.
About Risk
Fund share values are sensitive to stock market volatility. The value of the Fund's foreign currency investments increase in value when the U.S. dollar is weak or when foreign currencies in which the Fund invests are strong. The value of the Fund's investments will go down when the U.S. dollar is strong or when foreign currencies in which the Fund invests are weak. The value of foreign currencies as measured in U.S. dollars may be unpredictably affected by changes in foreign currency rates and exchange control regulations, application of foreign tax laws, governmental administration of economic or monetary policies, intervention by U.S. or foreign governments or central banks, and relations between nations. 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. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.
The views expressed in this report are those of portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as "forward looking statements". The Fund's actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund's filings with the Securities and Exchange Commission.
About Risk
Fund share values are sensitive to stock market volatility. The value of the Fund's foreign currency investments increase in value when the U.S. dollar is weak or when foreign currencies in which the Fund invests are strong. The value of the Fund's investments will go down when the U.S. dollar is strong or when foreign currencies in which the Fund invests are weak. The value of foreign currencies as measured in U.S. dollars may be unpredictably affected by changes in foreign currency rates and exchange control regulations, application of foreign tax laws, governmental administration of economic or monetary policies, intervention by U.S. or foreign governments or central banks, and relations between nations. 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. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.
About Risk
Fund share values are sensitive to stock market volatility. The value of the Fund's foreign currency investments increase in value when the U.S. dollar is weak or when foreign currencies in which the Fund invests are strong. The value of the Fund's investments will go down when the U.S. dollar is strong or when foreign currencies in which the Fund invests are weak. The value of foreign currencies as measured in U.S. dollars may be unpredictably affected by changes in foreign currency rates and exchange control regulations, application of foreign tax laws, governmental administration of economic or monetary policies, intervention by U.S. or foreign governments or central banks, and relations between nations. 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. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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
Chief Investment Officer, Parametric Portfolio Associates
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
Director of Portfolio Management, Parametric Portfolio Associates
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
Fund Literature
Fund Literature
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