Senior Floating-Rate Trust

Overview

Average Annual Returns (%) as of Mar 31, 2012
4/30/2012	as of Apr 30, 2012
	3 Months	YTD	1 Year	3 Years	5 Years	Life of Fund
Fund at NAV	3.51	7.22	6.05	23.46	4.15	5.22
Market Price	3.75	11.24	-0.55	26.26	4.05	5.40
3/31/2012	as of Mar 31, 2012
Fund at NAV	6.07	6.07	5.80	28.90	4.08	5.14
Market Price	7.79	7.79	-0.90	31.26	3.76	5.06
Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or market price (as applicable) with all distributions reinvested. The Fund's performance at market market price will differ from its results at NAV. Although market price performance generally reflects investment results over time, during shorter periods, returns at market price can also be affected by factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for the Fund's shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, 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. Performance less than one year is cumulative. Performance results reflect the effects of leverage resulting from the Fund's issuance of Auction Preferred Shares. For certain periods following the ex date of distributions paid by the Fund, returns may be calculated based on the lower of the net asset value or market price of the shares on the distribution pay date rather than the true distribution reinvestment price.

Fund Facts as of Apr 30, 2012
Performance Inception	11/28/2003
Investment Objective	High current income
CUSIP	27828Q105

Portfolio Management
Scott H. Page, CFA			Managed Fund since inception
Craig P. Russ			Managed Fund since inception
Peter M. Campo, CFA			Managed Fund since 2008

Market price performance is shown before applicable commissions that a shareholder may encounter when purchasing or selling shares of the fund. All performance information is for common shares of the fund. Closed–end funds, unlike open–end funds, are not continuously offered. There is a one–time public offering and once issued, shares of closed–end funds are sold in the open market through a stock exchange. Net asset value (NAV) is total assets less total liabilities divided by the number of shares outstanding. At the time of sale, your shares may have a market price that is above or below NAV. There is no assurance that the fund will achieve its investment objective. The fund is subject to investment risks, including possible loss of principal invested. This data is provided for information only and is not intended for trading purposes.

Morningstar Fact Sheet: This fact sheet is for information purposes only. It is prepared and presented by a third party. Eaton Vance is not responsible for its timeliness, accuracy or its content.

Performance

Average Annual Returns (%) as of Mar 31, 2012
4/30/2012	as of Apr 30, 2012
	3 Months	YTD	1 Year	3 Years	5 Years	Life of Fund
Fund at NAV	3.51	7.22	6.05	23.46	4.15	5.22
Market Price	3.75	11.24	-0.55	26.26	4.05	5.40
3/31/2012	as of Mar 31, 2012
Fund at NAV	6.07	6.07	5.80	28.90	4.08	5.14
Market Price	7.79	7.79	-0.90	31.26	3.76	5.06
Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or market price (as applicable) with all distributions reinvested. The Fund's performance at market market price will differ from its results at NAV. Although market price performance generally reflects investment results over time, during shorter periods, returns at market price can also be affected by factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for the Fund's shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, 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. Performance less than one year is cumulative. Performance results reflect the effects of leverage resulting from the Fund's issuance of Auction Preferred Shares. For certain periods following the ex date of distributions paid by the Fund, returns may be calculated based on the lower of the net asset value or market price of the shares on the distribution pay date rather than the true distribution reinvestment price.

Calendar Year Returns (%)
	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011
Fund at NAV	—	—	5.61	5.56	9.10	-0.26	-49.68	91.73	17.46	4.30
Market Price	—	—	8.16	-9.48	18.71	-8.39	-44.42	101.66	20.04	-4.95

Fund Facts
Performance Inception	11/28/2003

Yield Information¹ as of Apr 30, 2012
Distribution Rate at Market Price	6.68

Distribution History²
Ex-Date	Distribution	Reinvest NAV
Apr 19, 2012	$0.08700	$15.41
Mar 21, 2012	$0.08700	$15.24
Feb 17, 2012	$0.08500	$15.12
Dec 28, 2011	$0.08500	$14.77
Dec 21, 2011	$0.08500	$14.72
Nov 21, 2011	$0.08400	$14.22
Oct 20, 2011	$0.08300	$14.28
Sep 21, 2011	$0.08200	$13.72
Aug 22, 2011	$0.08200	$14.20
Jul 20, 2011	$0.08200	$14.65
View All
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.

Morningstar Fact Sheet: This fact sheet is for information purposes only. It is prepared and presented by a third party. Eaton Vance is not responsible for its timeliness, accuracy or its content.

1. Distribution Rate at MKT is calculated by dividing the last distribution paid per share (annualized) by market price. Taxable Equivalent Yield is calculated by assuming the maximum federal income tax rate and respective, if applicable, state tax rates. It does not take into account local taxes.
2. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Fund Holdings (%)^3,4 as of Mar 31, 2012
Holding	% of Net Assets
EV CASH RESERVES FUND	3.0634%
INTELSAT JACKSON HOLDINGS S A NEW TERM LOAN	1.9965%
RITE AID CORPORTATION FIRST LIEN	1.5141%
CHRYSLER GROUP LLC TERM LOAN	1.3671%
US DOLLARS	1.3518%
ASURION CORPORATION NEW 1ST LIEN TERM LOAN	1.3169%
PINNACLE FOODS FINANCE LLC FIRST LIEN	1.2622%
HCA, INC. EXTENDED TERM LOAN B2	1.1715%
LAUREATE EDUCATION, INC. EXTENDED TERM LOAN	1.1016%
SABARE INC. FIRST LIEN	1.0754%
View All

Morningstar Fact Sheet: This fact sheet is for information purposes only. It is prepared and presented by a third party. Eaton Vance is not responsible for its timeliness, accuracy or its content.

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.

Morningstar Fact Sheet: This fact sheet is for information purposes only. It is prepared and presented by a third party. Eaton Vance is not responsible for its timeliness, accuracy or its content.

Attribution

No attribution information is available.

Morningstar Fact Sheet: This fact sheet is for information purposes only. It is prepared and presented by a third party. Eaton Vance is not responsible for its timeliness, accuracy or its content.

Management

Biography

Scott H. Page, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1989

Scott Page is a vice president of Eaton Vance Management, portfolio manager on Eaton Vance's bank loan team and head of the Bank Loan Investment group.

Scott joined Eaton Vance in 1989 as a senior financial analyst in the bank loan group. He was promoted to co-portfolio manager in 1996. His previous experience includes the Dartmouth College Investment Office, as well as corporate finance and commercial lending at Citicorp and Chase Manhattan Bank.

Scott earned a B.A. from Williams College in 1981 and an M.B.A. from the Amos Tuck School of Dartmouth College in 1987. He is a CFA charterholder and has served as a member of the Board of Directors of the LSTA (Loan Syndications and Trading Association).

Scott's commentary has appeared in Bloomberg, Business Week, Dow Jones Investment Advisor, Forbes, Investor's Business Daily, Smart Money, Kiplinger's, USA Today, and The Wall Street Journal, and he has been featured on CNBC.

Education

B.A. Williams College
M.B.A. Amos Tuck School of Business Administration, Dartmouth College

Experience

Managed Fund since inception

Other funds managed

Biography

Craig P. Russ

Vice President, Eaton Vance Management
Joined Eaton Vance 1997

Craig Russ is a vice president of Eaton Vance Management, director of credit analysis and portfolio manager on Eaton Vance's bank loan team.

Craig joined Eaton Vance 1997 as an analyst and became co-manager of institutional bank loan funds in 2001. Prior to joining Eaton Vance, he worked for 10 years in commercial lending with State Street Bank.

Craig earned a B.A., cum laude, from Middlebury College in 1985 and studied at the London School of Economics and Political Science. He is a member of the board of directors of the Loan Syndications and Trading Association (LSTA). His commentary has appeared in Bloomberg, Grant's Interest Rate Observer and The Wall Street Journal.