Overview

The Fund has outperformed its benchmark with less volatility since inception.3

As of 12/31/14

  • A Shares at NAV
  • Benchmark

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -1.70 1.16 2.65 2.65 14.40 9.96
Fund w/Max Sales Charge -7.38 -4.66 -3.27 -3.27 12.18 8.43
MSCI All Country World Index4 -1.93 0.41 4.16 4.16 14.09 9.16 9.40
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 Facts as of Dec 31, 2014

Class A Inception 10/12/2010
Investment Objective Total return
Total Net Assets $1.1B
Minimum Investment $1000
Expense Ratio5 1.26%
CUSIP 277902599

Top 10 Holdings (%)6 as of Dec 31, 2014

MSCI Emerging Markets Mini (US, USD) - MME - Mar 2015
Apple Inc.
S&P 500 Mini (US, USD) - ES - Mar 2015
Microsoft Corp.
Exxon Mobil Corp.
Toyota Motor Corp.
Nestle SA
Pfizer Inc.
JPMorgan Chase & Co.
Chevron Corp. New
Total 18.93


Portfolio Management

Richard Bernstein Managed Fund since inception

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. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative 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. 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 Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -1.70 1.16 2.65 2.65 14.40 9.96
Fund w/Max Sales Charge -7.38 -4.66 -3.27 -3.27 12.18 8.43
MSCI All Country World Index4 -1.93 0.41 4.16 4.16 14.09 9.16 9.40
Morningstar™ World Stock Category7 -1.70 0.52 2.79 2.79 14.11 9.54
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 -6.40 12.69 29.48 2.65
MSCI All Country World Index4 10.84 20.95 11.66 -42.19 34.63 12.67 -7.35 16.13 22.80 4.16

Fund Facts

Expense Ratio5 1.26%
Class A Inception 10/12/2010
Distribution Frequency Annually


Risk Measures (3 Year)8 as of Dec 31, 2014

Alpha (%) 3.46
Beta 0.76
R-Squared (%) 83.13
Standard Deviation (%) 8.89
Sharpe Ratio 1.62


Morningstar™ Ratings as of Dec 31, 2014

Time Period Rating Rating (Load Waived) Funds in
World Stock
Category
Overall *** *** 881
3 Years *** *** 881
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
Jan 29, 2015 $14.46 $0.14
Jan 28, 2015 $14.32 $-0.15
Jan 27, 2015 $14.47 $-0.14
Jan 26, 2015 $14.61 $0.07
Jan 23, 2015 $14.54 $-0.06
Jan 22, 2015 $14.60 $0.21
Jan 21, 2015 $14.39 $0.07
Jan 20, 2015 $14.32 $0.05
Jan 16, 2015 $14.27 $0.19

Distribution History9

Ex-Date Distribution Reinvest NAV
Dec 23, 2014 $0.08400 $14.63
Dec 23, 2013 $0.06380 $14.04
Dec 20, 2012 $0.12900 $11.14
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 History9

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 23, 2014 $0.06460 $14.63
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. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative 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. 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 (%)6,10 as of Dec 31, 2014

U.S. Common Stocks 61.34
Foreign Common Stocks 38.09
Cash & Equivalents 0.58
Total 100.00

Portfolio Statistics as of Dec 31, 2014

Median Market Cap $23.2B
Price/Earnings Ratio 17.17
Price/Book Ratio 2.23
Number of Holdings 327


GICS Sector Breakdown (%)6,10 as of Dec 31, 2014

Sector Fund MSCI All Country World Index4
Consumer Discretionary 11.17 12.10
Consumer Staples 13.86 9.54
Energy 6.33 7.99
Financials 12.76 21.81
Health Care 12.45 11.63
Industrials 13.92 10.52
Information Technology 15.11 13.89
Materials 3.58 5.38
Telecom Services 4.40 3.76
Utilities 5.84 3.39
Cash 0.58 0.00

Portfolio Characteristics (%)11 as of Dec 31, 2014

Fund (%) MSCI All Country
World Index (%)
Regions
US. 62 52
Developed 28 38
Emerging 10 10
Style
Growth 49 51
Value 51 49
Size
Large Cap 80 86
Midcap 13 14
Small Cap 7 0


Assets by Country (%)6,10 as of Dec 31, 2014

United States 61.34
Japan 10.83
United Kingdom 2.90
France 2.80
Switzerland 2.70
Germany 2.52
China 2.15
Spain 1.94
Korea 1.44
Netherlands 1.24
View All

Geographic Mix (%)6,10 as of Dec 31, 2014

United States 61.34
Europe except U.K. 14.02
Japan 10.83
Asia/Pacific 6.74
United Kingdom 2.90
Latin America 1.62
Africa 0.78
Eastern Europe 0.69
Northern America except U.S. 0.35
Middle East 0.17
Cash & Other Assets 0.58


Fund Holdings (%)6,12 as of Nov 30, 2014

Holding % of Net Assets
EV Cash Reserves Fund 10.62%
mini MSCI Emg Mkt Dec14 10.08%
Apple Inc 1.84%
Vanguard Energy ETF 1.39%
Microsoft Corp 1.11%
Exxon Mobil Corp 0.94%
US DOLLARS 0.87%
Nestle SA 0.83%
Toyota Motor Corp 0.81%
Pfizer Inc 0.75%
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. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative 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. 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

A Word On The Markets  as of Dec 31, 2014

U.S. stocks led the way in the fourth quarter of 2014, while international equity markets delivered mixed performance. Trading was volatile during the three-month period, as concerns about global economic growth alternated with optimism regarding the U.S. economy.

In the U.S., equities fell sharply early in the period amid investor worries about slowing overseas growth and falling oil prices. However, U.S. stocks subsequently rallied following positive economic data and a vote of confidence from the U.S. Federal Reserve (Fed), which ended its bond-buying stimulus program. Continued job market gains and an uptick in manufacturing orders helped major U.S. stock indexes reach multiple record highs in November.

In December, the collapse of Russia’s currency and mounting concerns over the steep decline in oil prices sent stocks sharply lower. But U.S. equities rebounded near period-end after the Fed pledged to be “patient” in raising interest rates and revised third-quarter data showed accelerating U.S. economic growth amid increased consumer spending. Globally, China’s stock market staged a strong rally despite the country’s continued economic sluggishness. Weak economic data weighed on equity markets in Japan, Europe and Russia.

Reflecting divergent economic outlooks for the U.S. and other global regions, major stock market indexes delivered mixed results for the fourth quarter. The Dow Jones Industrial Average13 advanced 5.20%, hitting multiple all-time closing highs during the quarter. The broader S&P 500 Index14 also attained new highs, finishing the period with a 4.93% gain. Globally, the MSCI World Index15 returned 0.66%. The MSCI EAFE Index16 of developed-market international equities lost 3.57%, while the MSCI Emerging Markets Index17 dropped 4.50%.

Performance Summary 

Eaton Vance Richard Bernstein Equity Strategy Fund (the Fund) outperformed its benchmark, the MSCI All Country World Index (the Index),4 for the quarter ended December 31, 2014, returning 1.16% for Class A shares at net asset value versus the Index’s 0.41% return.

  • Europe has continued to struggle as the ECB has floundered, although this could change should the ECB decide to take more formative action. In the meantime, the Fund remains underweight Europe, while being overweight the U.S.
  • The Fund hedged its holdings exposure to the Japanese yen, which had a positive impact on the Fund’s performance.
  • One of the biggest stories to close out 2014 was the collapse in oil prices. The Fund benefited from decreasing its exposure to the energy sector as oil prices declined.

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -1.70 1.16 2.65 2.65 14.40 9.96
Fund w/Max Sales Charge -7.38 -4.66 -3.27 -3.27 12.18 8.43
MSCI All Country World Index4 -1.93 0.41 4.16 4.16 14.09 9.16 9.40
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 Facts as of Dec 31, 2014

Class A Inception 10/12/2010
Expense Ratio5 1.26%


Contributors 

Factors contributing to the Fund’s relative performance compared to the Index during the quarter:

  • From a regional perspective, the Fund’s underweight in Europe and its overweight in the U.S. relative to the Index had the biggest positive impact on the Fund’s performance.
  • The Fund’s underweight position in the energy sector made a positive contribution to the Fund’s performance.
  • The Fund benefited from its underweight in large-cap stocks. As can be seen comparing the Russell 2000 Index with the S&P 500 Index, small-cap stocks finished 2014 strong.
  • The Fund holds several securities that attempt to capture management’s view that traditional U.S. large-cap high-beta stocks appear to be undervalued relative to their own history. The securities exemplifying this theme delivered a positive contribution for the Fund.

Detractors 

Factors detracting from the Fund’s relative performance compared to the Index during the quarter:

  • The Fund was overweight Japan, which underperformed the Index for the quarter. However, taking into account the impact of the currency hedge, the Fund benefited from its Japan holdings from a USD perspective.
  • The American Industrial Renaissance theme, implemented in the Fund via securities in the industrials sector, had a disappointing quarter.
  • The Fund’s performance was slightly hampered by its holdings in health care. Although the Fund and the Index held approximately the same weight in this sector, the names held by the Fund slightly underperformed those in the Index.
  • The Fund’s cash position was a small detractor from the Fund’s overall performance for the quarter.

Investment Outlook And Fund Positioning 

Our annual outlook highlights several key viewpoints embedded within the Fund. Namely, the ECB seems to be hampering European growth, Japan is attempting to grow its market share, Treasurys continue to offer diversification, high-yield municipals remain attractive and cheap high-beta stocks look undervalued. It appears that the marketplace has conflicting views of the environment. Our own stance is based on an improving economy (evident in initial jobless claims), declining energy and gasoline prices, a strong U.S. dollar, falling interest rates and potentially underestimated continued growth in profits. Thus, we continue to believe that the current cycle may be an elongated one still offering opportunities, and that the Fund is well-positioned to benefit from one of the strongest equity bull markets of our careers.

Top 10 Holdings (%)6 as of Dec 31, 2014

MSCI Emerging Markets Mini (US, USD) - MME - Mar 2015 9.86
Apple Inc. 1.74
S&P 500 Mini (US, USD) - ES - Mar 2015 1.43
Microsoft Corp. 1.09
Exxon Mobil Corp. 0.98
Toyota Motor Corp. 0.84
Nestle SA 0.83
Pfizer Inc. 0.76
JPMorgan Chase & Co. 0.70
Chevron Corp. New 0.69
Total 18.93


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.

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. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative 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. 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

Sector Attribution as of Dec 31, 2014

Fund MSCI All Country World Index4 Attribution
Sectors Average Weight Total Return Contrib. to Return Average Weight Total Return Contrib. to Return Allocation Effect Selection Effect Total Effect
3 Month Attribution
Consumer Discretionary 8.78 7.22 0.56 11.70 5.60 0.63 -0.04
Consumer Staples 13.21 4.40 0.56 9.72 2.98 0.28 0.26
Energy 6.75 -10.60 -0.76 8.56 -15.46 -1.42 0.65
Financials 9.54 6.16 0.57 21.70 1.47 0.29 0.32
Health Care 12.10 0.62 0.08 11.54 2.95 0.33 -0.26
Industrials 13.63 -0.66 -0.04 10.44 1.00 0.12 -0.20
Information Technology 12.80 6.15 0.77 13.59 3.93 0.51 0.25
Materials 2.94 -9.84 -0.31 5.52 -5.70 -0.33 0.03
Telecom Services 3.86 -2.92 -0.11 3.87 -3.01 -0.12 0.00
Utilities 5.43 4.41 0.24 3.36 3.29 0.11 0.11
Futures 0.58 0.00 0.00 0.00 0.00 0.00 0.06
Cash 10.38 -1.81 -0.19 0.00 0.00 0.00 -0.22
Total 100.00 1.36 1.36 100.00 0.41 0.41 0.95
1 Year Attribution
Consumer Discretionary 9.80 5.64 0.46 11.67 3.38 0.37 0.13
Consumer Staples 10.89 9.41 1.10 9.65 6.15 0.60 0.52
Energy 6.29 -13.15 -1.11 9.48 -13.46 -1.14 0.25
Financials 13.28 5.65 0.36 21.55 3.48 0.69 -0.09
Health Care 10.34 16.21 1.46 10.89 18.12 1.81 -0.30
Industrials 17.92 -0.11 0.11 10.62 0.21 0.05 -0.41
Information Technology 12.24 14.17 1.59 13.02 15.20 1.83 -0.21
Materials 3.81 -9.18 -0.21 5.95 -7.36 -0.40 0.27
Telecom Services 3.01 -4.70 -0.20 3.90 -1.94 -0.10 -0.04
Utilities 3.67 13.88 0.51 3.28 13.67 0.44 0.11
Futures 2.21 0.03 0.00 0.00 0.00 0.00 -0.33
Cash 6.53 -2.62 -0.30 0.00 0.00 0.00 -0.29
Total 100.00 3.79 3.79 100.00 4.16 4.16 -0.37


Additional Notes 

Source: Factset.

Attribution analysis shows the contribution of indicated factor exposures to a portfolio's relative total return versus a designated benchmark. Results are based on each day's ending holdings, and linked to generate attribution over longer periods. Portfolio returns do not reflect applicable expenses and trading costs, or variations in transaction prices from end of day values.

Allocation Effect 

Measures portfolio's excess return due to over or under-weighting a sector.

Selection Effect 

Measures portfolio's excess return from selecting individual stocks within each sector.

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. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative 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. 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
Richard Bernstein

Richard Bernstein

Founder, CEO and Chief Investment Officer
Richard Bernstein Advisors LLC

Richard Bernstein is the chief executive officer/chief investment officer of Richard Bernstein Advisors LLC.

Mr. Bernstein founded Richard Bernstein Advisors LLC (RBA) in 2009. The firm utilizes a unique top-down approach to investing, focusing on macro trends rather than individual stock selection. RBA manages several accounts in partnership with several leading financial institutions. Mr. Bernstein has over 30 years’ experience on Wall Street, most recently as the chief investment strategist at Merrill Lynch & Co. Prior to joining Merrill Lynch in 1988, he held positions at E.F. Hutton and Chase Econometrics/IDC.

A much-noted expert on equity, style and asset allocation, Mr. Bernstein was voted to Institutional Investor magazine’s annual “All-America Research Team” 18 times, and is one of only 49 analysts inducted into the Institutional Investor “Hall of Fame.” He was also twice named to both Fortune magazine’s “All-Star Analysts” and to Smart Money magazine’s “Power 30”, and was a member of Registered Rep’s “Ten to watch” for 2012. His book “Style Investing: Unique Insight into Equity Management” is widely viewed as the seminal book on style-oriented investment strategies. He donates the profits from that and his other book, “Navigate the Noise: Investing in the New Age of Media and Hype,” to charity.

Mr. Bernstein is co-chair of the Alfred P. Sloan Foundation endowment’s Investment Committee (~$1.8 billion) and sits on the Hamilton College endowment’s Investment Committee (~$700 million); he is a trustee of both institutions. He is also an Adjunct Professor of Finance at the NYU/Stern Graduate School of business, and is a member of the Journal of Portfolio Management’s Advisory Committee. Rich holds an MBA in finance, with Beta Gamma Sigma distinction, from New York University, and a BA in economics from Hamilton College. He has lectured on finance and economics at numerous colleges, universities and professional forums.

Education
  • B.A. Hamilton College
  • M.B.A. Stern School of Business, New York University
Experience
  • Managed Fund since inception

Fund Literature

Fund Literature

Annual Report

Attribution

Income, Volatility and Taxes Guide

Commentary

Fact Sheet

Full Prospectus

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

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