Overview

 

Relative to traditional multi-sector bond funds, historically this fund has had: Lower duration, Lower volatility, Lower correlation to bonds.3

As of 3/31/14.

  • Fund at NAV
  • Morningstar Multisector Bond Category

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

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV 0.67 1.46 1.46 0.06 3.32 7.98 5.79
Fund w/Max Sales Charge -1.59 -0.82 -0.82 -2.20 2.53 7.48 5.55
Barclays U.S. Aggregate Bond Index4 -0.17 1.84 1.84 -0.10 3.74 4.80 4.46
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. Max Sales Charge: 2.25%.

Fund Facts as of Mar 31, 2014

Class A Inception 01/23/1998
Performance Inception 11/26/1990
Investment Objective Total return
Total Net Assets $2.0B
Minimum Investment $1000
Expense Ratio (Gross)5 1.16%
Expense Ratio (Net)6 1.06%
CUSIP 277911772


Portfolio Management

Eric Stein, CFA Managed Fund since 2009
Andrew Szczurowski, CFA Managed Fund since 2013

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

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. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non–payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher rated investments. 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

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

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV 0.67 1.46 1.46 0.06 3.32 7.98 5.79
Fund w/Max Sales Charge -1.59 -0.82 -0.82 -2.20 2.53 7.48 5.55
Barclays U.S. Aggregate Bond Index4 -0.17 1.84 1.84 -0.10 3.74 4.80 4.46
Morningstar™ Multisector Bond Category7 0.39 2.35 2.35 2.97 5.69 11.73 6.08
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: 2.25%.

Calendar Year Returns (%)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Fund at NAV 8.33 4.73 6.65 8.14 -9.98 26.24 8.04 0.99 8.51 0.36
Barclays U.S. Aggregate Bond Index4 4.34 2.43 4.33 6.97 5.24 5.93 6.54 7.84 4.21 -2.02

Fund Facts

Expense Ratio (Gross)5 1.16%
Expense Ratio (Net)6 1.06%
Class A Inception 01/23/1998
Performance Inception 11/26/1990
Distribution Frequency Monthly

Yield Information8 as of Mar 31, 2014

Distribution Rate at NAV 4.92%
SEC 30 Day Yield 3.86%


Morningstar™ Ratings as of Mar 31, 2014

Time Period Rating Rating (Load Waived) Funds in
Multisector Bond
Category
Overall *** *** 223
3 Years ** ** 223
5 Years ** ** 178
10 Years *** *** 115
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.

© 2013 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
Apr 21, 2014 $7.87 $0.00
Apr 17, 2014 $7.87 $0.01
Apr 16, 2014 $7.86 $0.02
Apr 15, 2014 $7.84 $0.00
Apr 14, 2014 $7.84 $0.00
Apr 11, 2014 $7.84 $0.00
Apr 10, 2014 $7.84 $-0.02
Apr 09, 2014 $7.86 $0.00
Apr 08, 2014 $7.86 $0.00

Distribution History9

Ex-Date Distribution Reinvest NAV
Mar 28, 2014 $0.03220 $7.84
Feb 27, 2014 $0.02910 $7.83
Jan 30, 2014 $0.03220 $7.80
Dec 30, 2013 $0.03220 $7.83
Nov 27, 2013 $0.03120 $7.82
Oct 30, 2013 $0.03220 $7.88
Sep 27, 2013 $0.03120 $7.83
Aug 29, 2013 $0.03220 $7.81
Jul 30, 2013 $0.03220 $7.95
Jun 27, 2013 $0.03120 $7.92
View All
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
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. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

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. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non–payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher rated investments. 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

Asset Mix (%)10,11 as of Mar 31, 2014

Foreign Sovereign Bonds 29.9
U.S. Corporate Bonds 29.4
Floating-Rate Loans 14.7
U.S. Govt. Agency Mortgage Backed Securities 11.2
Cash Equivalents 4.5
U.S. Treasury & Govt. Agency Bonds 3.3
Other Net Assets 2.3
U.S. Common Stocks 1.9
Repurchase Agreements 1.5
Foreign Common Stocks and ADR's 1.4

Portfolio Statistics as of Mar 31, 2014

Average Weighted Duration 1.62 yrs.


Credit Quality (%)12 as of Mar 31, 2014

AAA 17.64
AA 0.04
A 5.95
BBB 10.33
BB 30.30
B 25.98
CCC or Lower 7.42
Not Rated 2.34
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the rating agencies, the higher rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P's or Fitch (Baa or higher by Moody's) are considered to be investment grade quality. Credit ratings are based largely on the rating agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national rating agencies stated above.

Portfolio Allocations (%)10,11 as of Mar 31, 2014

Boston Income Portfolio 24.86
Global Macro Absolute Return Advantage Portfolio 19.09
Global Opportunities Portfolio 18.71
Senior Debt Portfolio 10.07
Global Macro Portfolio 8.72
High Income Opportunities Portfolio 6.45
Floating-Rate Portfolio 2.86
Short Duration High Income Portfolio 2.40
Currency Income Advantage Portfolio 2.13
Global Macro Capital Opportunities Portfolio 2.08
International Income Portfolio 1.80
Emerging Markets Local Income Portfolio 0.82


 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

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. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non–payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher rated investments. 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

A Word On The Markets  as of Mar 31, 2014

The first quarter was characterized by uncertainty about the global economic outlook, a reduction in stimulus from the Federal Reserve (Fed) and a rebound in emerging-market asset prices.

During the first quarter, a number of economists lowered their estimates for U.S. gross domestic product (GDP) growth, in part due to weaker consumer spending caused by harsh winter weather. However, data for other sectors, including business investment and trade, were also soft. Signs of sluggish growth did not deter the Fed from continuing to taper its bond-buying program. At each of its two policy meetings during the quarter, the central bank trimmed its monthly bond purchases by $10 billion. The Fed held short-term interest rates near zero but said that it would base future rate decisions on a broad range of economic indicators. This clouded the outlook for monetary policy, as previous guidance had referenced 6.5% unemployment as the Fed’s threshold for considering rate hikes.

Overseas, economic data in Japan suggested that the pro-growth polices of Prime Minster Abe were losing momentum. The eurozone economy showed marginal improvement, although the region’s large trade surplus helped send the euro to a level unseen since 2011 relative to the U.S. dollar. The European Central Bank signaled its willingness to act with rate cuts or other measures to counter deflationary pressures and a stronger euro. In China, the government hinted that the slowdown in the country’s economy could prompt stimulus measures. There were additional headlines out of emerging markets that caused asset price volatility. These included tensions over Russia’s annexation of the Crimean Peninsula, a large currency devaluation in Argentina and protests in Venezuela, Brazil and Thailand, among others.

Against this backdrop, yield curves13 flattened in most developed and emerging markets, while credit spreads were largely unchanged. Emerging-market currencies were mixed relative to the U.S. dollar. Following a broad sell-off in January, they regained their footing to varying degrees as the quarter progressed.

Performance Summary 

Eaton Vance Short Duration Strategic Income Fund (the Fund) underperformed its benchmark, the Barclays U.S. Aggregate Index (the Index),4 at net asset value for the quarter.

  • The Fund’s average duration was managed near 1.62 years at quarter-end, which was significantly lower than the average duration of the Index. This positioning detracted from performance relative to the Index, as the downward trend in longer-term interest rates during the quarter resulted in outperformance of longer-maturity U.S. Treasury securities.
  • The Fund’s 12 component portfolios were allocated broadly across the globe to U.S. credit markets, non-U.S. dollar-denominated debt instruments, absolute return strategies, currencies and even a small amount to global equities. Four of these five broad allocations made positive contributions to Fund performance.

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

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV 0.67 1.46 1.46 0.06 3.32 7.98 5.79
Fund w/Max Sales Charge -1.59 -0.82 -0.82 -2.20 2.53 7.48 5.55
Barclays U.S. Aggregate Bond Index4 -0.17 1.84 1.84 -0.10 3.74 4.80 4.46
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. Max Sales Charge: 2.25%.

Fund Facts as of Mar 31, 2014

Class A Inception 01/23/1998
Performance Inception 11/26/1990
Expense Ratio (Gross)5 1.16%
Expense Ratio (Net)6 1.06%


Contributors 

Factors contributing to the Fund’s performance during the quarter:

  • Exposure to U.S. non-investment grade corporate bonds via Boston Income Portfolio, High Income Opportunities Portfolio and Short Duration High Income Portfolio, and to floating-rate loans within Floating-Rate Portfolio and Senior Debt Portfolio, positively impacted results. These higher-yielding areas of the credit markets advanced on strong demand for yield in the low-rate environment.
  • Investments in Emerging Markets Local Income Portfolio and Currency Income Advantage Portfolio boosted returns. These portfolios benefited, as select emerging-market currencies strengthened versus the U.S. dollar.
  • The Fund's allocation to absolute return strategies added a modest amount of value, aided by select long and short currency and sovereign credit positions within Global Macro Portfolio and Global Macro Absolute Return Advantage Portfolio.

Detractors 

Factors detracting from the Fund’s performance during the quarter:

  • The Fund was negatively impacted by interest-rate management within Global Opportunities Portfolio, which kept its overall duration lower than the duration of the Index. This positioning hurt performance because of the downward trend in longer-term interest rates.
  • The Fund’s small allocation to global equities via Global Macro Capital Opportunities Portfolio was a slight detractor from returns as global equity markets retreated during January resulting in a small, negative return for the quarter despite positive performance in both February and March.

Investment Outlook And Fund Positioning 

In developed markets, deflationary forces appear to be percolating across the eurozone, and stagnant growth in the region may force structural reform in peripheral countries. Structural reform in Japan has stalled, and optimism about the country’s aggressive stimulus policies is starting to fade. We believe the United States has the healthiest economy in the developed world and has made the most progress toward deleveraging. However, the U.S. debt burden is still high, and political gridlock and the rising cost of social programs are additional headwinds.

In emerging markets, we are encouraged by the recent rebound in asset prices, and we think policy adjustments in several countries put them in a relatively stronger position going forward, while others appear to continue experiencing strong growth. That said, uncertainties remain, including the impact of slowing growth in China and political turmoil in Ukraine. Differentiation among emerging-market countries, thus, may be key.

Given these dynamics, we remain cautious in our outlook for the global fixed-income markets in general. However, we continue to pursue attractive individual investment opportunities for the Fund, especially in select emerging markets.

 

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. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

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. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non–payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher rated investments. 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

 

Attribution available in Fund Literature tab.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

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. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non–payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher rated investments. 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
Eric Stein, CFA

Eric Stein, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2002; rejoined the firm in 2008

Eric Stein is a vice president of Eaton Vance Management, co-director and portfolio manager with Eaton Vance’s Global Income Group, focusing on Asia, Western Europe and the Dollar Bloc. He also covers the policies and actions of the U.S. Federal Reserve and the U.S. Treasury.

Eric originally joined Eaton Vance in 2002 and rejoined the company in 2008. He previously worked on the Markets Desk of the Federal Reserve Bank of New York. In addition, he has experience at Citigroup Alternative Investments.

Eric earned a B.S., cum laude, in business administration from Boston University and an M.B.A. in analytic finance and economics, with honors, from the University of Chicago Booth School of Business. He is a CFA charterholder and a member of the Boston Committee on Foreign Relations, Boston Economic Club and Boston Security Analysts Society. Eric also serves as a board member and member of the investment committee of the Boston Civic Symphony.

Eric's commentary has appeared in The New York Times, The Wall Street Journal, Barron's, Financial Times, The Washington Post, Bloomberg, Dow Jones, Reuters, Kiplinger's and The Christian Science Monitor and he has been featured on CNBC, Fox News, Fox Business News, PBS, Bloomberg Radio and Bloomberg TV.

Education
  • B.S. Boston University
  • M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since 2009
Biography
Andrew Szczurowski, CFA

Andrew Szczurowski, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2007

Andrew Szczurowski is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's Global Income Group.

Prior to joining Eaton Vance in 2007, Andrew was affiliated with BNY Mellon.

Andrew earned a B.S., cum laude, in business administration with a concentration in finance from the Whittemore School of Business and Economics at the University of New Hampshire. He is a CFA charterholder and a member of the Boston Security Analysts Society.

Education
  • B.S. University of New Hampshire
Experience
  • Managed Fund since 2013
 

Fund Literature

Fund Literature

Annual Report

Attribution

Income, Volatility and Taxes Guide

Commentary

Discover Opportunities in the Income Markets with Eaton Vance

Income Markets Review

Income Markets Snapshot

Fact Sheet

Income: Looking beyond traditional sources of yield

Full Prospectus

Global Macro Capital Opportunities Portfolio

Global Opportunities Portfolio Holdings

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

SAI

Think Performance Think Eaton Vance

EXCLUSIVE CONTENT

Concerned with risk in fixed income? (ETSIX).pdf

Semi-Annual Report

Summary Prospectus

XBRL


 

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