Overview

Growth of $10,000

10-year period ended 03/31/2015

  • Class A at NAV

Average Annual Returns (%)as of Jun 30, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV -0.29 2.77 12.00 26.57 27.85 22.97 13.12
Fund w/Max Sales Charge -6.03 -3.11 5.54 19.32 25.34 21.52 12.46
MSCI World Health Care Index1 -1.17 1.52 9.94 17.19 24.10 20.84 10.16
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 Factsas of May 31, 2015

Class A Inception 07/26/1985
Investment Objective Long-term capital growth
Total Net Assets $1.8B
Minimum Investment $1000
Expense Ratio2 1.46%
CUSIP 277902813

Top 10 Holdings (%)3,4as of Mar 31, 2015

Bristol-Myers Squibb Co
Regeneron Pharmaceuticals Inc
Amgen Inc
HCA Holdings Inc
Actavis plc
Biogen Inc
Novartis AG
AbbVie Inc
Shire PLC
Medivation Inc
Total 39.14


Portfolio Management

Samuel D. Isaly Managed Fund since 1989
Sven H. Borho, CFA Managed Fund since 2005
Geoffrey C. Hsu, CFA Managed Fund since 2005
Richard D. Klemm, Ph.D., CFA Managed Fund since 2005
Trevor M. Polischuk, Ph.D. Managed Fund since 2005

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
05/31/2015
Fund at NAV 5.28 5.76 12.33 33.25 31.21 22.85 13.16
Fund w/Max Sales Charge -0.79 -0.29 5.85 25.55 28.66 21.41 12.49
MSCI World Health Care Index1 2.83 4.04 11.24 21.36 27.13 21.18 10.18
Morningstar™ Health Category5 6.78 6.42 15.21 38.56 33.56 25.65 13.93
03/31/2015
Fund at NAV 2.61 8.98 8.98 29.82 28.19 19.66 13.36
Fund w/Max Sales Charge -3.26 2.69 2.69 22.38 25.67 18.25 12.68
MSCI World Health Care Index1 1.29 8.29 8.29 20.91 23.95 17.71 10.44
Morningstar™ Health Category5 2.23 10.71 10.71 32.38 30.30 22.35 14.24
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 7.69 -0.01 6.49 -7.24 9.89 11.13 4.75 15.49 44.56 27.39
MSCI World Health Care Index1 9.00 10.47 3.94 -21.50 18.89 2.41 9.46 17.54 36.27 18.10

Fund Facts

Expense Ratio2 1.46%
Class A Inception 07/26/1985
Distribution Frequency Annually


Risk Measures (3 Year)6as of Jun 30, 2015

Alpha (%) -0.04
Beta 1.15
R-Squared (%) 72.02
Standard Deviation (%) 11.75
Sharpe Ratio 2.36


Morningstar™ Ratingsas of May 31, 2015

Time Period Rating Rating (Load Waived) Funds in
Health
Category
Overall *** *** 123
3 Years ** *** 123
5 Years ** *** 117
10 Years *** *** 97
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
Jun 30, 2015 $13.72 $0.12
Jun 29, 2015 $13.60 $-0.34
Jun 26, 2015 $13.94 $-0.03
Jun 25, 2015 $13.97 $0.04
Jun 24, 2015 $13.93 $-0.12
Jun 23, 2015 $14.05 $0.03
Jun 22, 2015 $14.02 $0.18
Jun 19, 2015 $13.84 $0.00
Jun 18, 2015 $13.84 $0.20
Jun 17, 2015 $13.64 $0.03

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 17, 2013 $0.06940 $10.78
Dec 20, 2012 $0.23050 $8.97
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 History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 16, 2014 $0.56450 $1.45310 $11.95
Dec 17, 2013 $0.19790 $1.16690 $10.78
Dec 20, 2012 $0.54000 $0.70090 $8.97
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 invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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 (%)4,8as of Mar 31, 2015

U.S. Common Stocks 74.32
Foreign Common Stocks 22.52
Cash & Other Assets 3.16
Total 100.00

Portfolio Statisticsas of Mar 31, 2015

Number of Holdings 51


Sector Breakdown (%)4as of Mar 31, 2015

Sector Fund MSCI World Health Care Index1
Biotechnology 30.31 15.38
Health Care Distributors 0.79 2.93
Health Care Equipment 11.73 10.63
Health Care Facilities 3.99 1.01
Health Care Services 1.34 3.81
Health Care Supplies 3.11 1.07
Health Care Technology 0.00 0.60
Life Sciences Tools & Services 6.69 2.92
Managed Health Care 4.15 5.67
Pharmaceuticals 34.73 55.98
Cash 3.16 0.00

Assets by Country (%)4as of Mar 31, 2015

United States 74.32
Japan 9.49
Switzerland 7.58
Ireland 3.10
China 0.94
United Kingdom 0.94
Denmark 0.26
Israel 0.20
Cash & Other Assets 3.17
Total 100.00


Geographic Mix (%)4as of Mar 31, 2015

North America 74.32
Europe 11.88
Asia/Pacific 10.43
Middle East 0.20
Cash & Other Assets 3.17
Total 100.00


Fund Holdings (%)4,9as of May 31, 2015

Holding % of Net Assets
Bristol-Myers Squibb Co 5.47%
Regeneron Pharmaceuticals Inc 5.19%
Novartis AG 4.64%
AbbVie Inc 4.44%
HCA Holdings Inc 4.20%
Actavis plc 3.86%
Boston Scientific Corp 3.43%
Biogen Inc 3.37%
Amgen Inc 3.37%
Shire PLC 3.26%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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, 2015

Macro concerns dominated the headlines for the first quarter of 2015. The resulting volatility had stocks moving in a seesaw pattern through most of the period. Uncertainty over interest-rate hikes and currency movements was exacerbated by weakening economic growth and a disappointing employment report in the U.S.

For the first quarter of 2015, the total return for the MSCI World Index10 was 2.3%. This was led by a significant rally in Japan, where the Nikkei 225 Index gained roughly 10% in dollar terms. A weakening yen and continued Abe-led monetary policy fueled the move.

Other international markets did not fare as well as Japan, but still trumped U.S. equities. European stocks rose more than 15% for the period due to the falling euro, but still managed to gain more than 3% in U.S. dollar terms, as per the Bloomberg European 500 Index. U.S. markets fared worse; the total return for the S&P 500 Index11 was 1.0%, and the Dow Jones Industrial Average advanced just 0.3%.

On a global level, health care stocks proved to be defensive during the quarter. The MSCI World Health Care Index returned 8.3%. Once again, the move was led by the continued momentum in biotechnology stocks, as the NASDAQ Biotechnology Index (NBI)12 advanced 13.0% for the quarter. Drug stocks were relative laggards during the period, but still posted strong gains. The NYSE Arca Pharmaceutical Index (DRG) advanced 7.2%.

Performance Summary 

Eaton Vance Worldwide Health Sciences Fund (the Fund) outperformed its benchmark, the MSCI World Health Care Index (the Index), for the first quarter of 2015, returning 8.98% for Class A shares at net asset value versus the Index’s 8.29% return. The Fund’s outperformance was mostly due to sector allocation in biotechnology and exposure to Japan.

  • Biotechnology was the Fund’s largest contributor to both absolute and relative performance in the first quarter. A mix of stocks within the sector, both small- and large-cap, contributed.
  • The contribution to Fund performance from large-cap pharmaceuticals was second only to biotechnology.
  • Contributions from other sectors were relatively modest. Positive performance was generated in the life science tools sector, due to stock selection.
  • Headwinds to Fund performance included the health care services and medical devices sectors.

Average Annual Returns (%)as of Mar 31, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV 2.61 8.98 8.98 29.82 28.19 19.66 13.36
Fund w/Max Sales Charge -3.26 2.69 2.69 22.38 25.67 18.25 12.68
MSCI World Health Care Index1 1.29 8.29 8.29 20.91 23.95 17.71 10.44
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 Factsas of Mar 31, 2015

Class A Inception 07/26/1985
Expense Ratio2 1.46%


Contributors 

First-quarter contributions to Fund performance were sourced primarily from therapeutics stocks, namely biotechnology and pharmaceuticals.

  • At the individual stock level, the Fund’s most significant contributor for the period was Biogen Inc. New data for a putative treatment for Alzheimer’s disease drove the stock higher.
  • Ono Pharmaceutical Co. Ltd. of Japan was also a significant contributor, as partner Bristol-Myers Squibb received approval for Opdivo (nivolumab) to treat lung cancer in the U.S. much earlier than expected.
  • Momentum continued for biotech company Medication Inc. Sales of its prostate cancer drug, Xtandi (enzalutamide), continued to surpass analyst estimates.
  • Impax Laboratories gapped higher in the quarter after its Parkinson’s drug, Rytary, was approved by the U.S. FDA and initial uptake exceeded expectations.
  • Neurocrine Biosciences, Inc. moved higher in the quarter after the company presented positive new data for its experimental drug to treat endometriosis.

Detractors 

Meaningful detractors from Fund performance were relatively few during the quarter. Losses in each case were a direct result of unexpected negative news flow.

  • The largest individual detractor was Insulet Corp., the global leader in insulin pump technology. The stock fell after execution missteps by senior management led to lower guidance. The management team was ultimately replaced.
  • Abbvie Inc. sold off after the company engaged in aggressive rebating tactics in the hepatitis C space and provided underwhelming guidance for its hepatitis C drug, Viekira Pak. The company also acquired a biotechnology firm for over $20 billion, which some investors believed to be an excessive price.
  • Underweight positions in two outperforming large-cap stocks, Pfizer Inc. and Novo Nordisk, created headwinds to Fund performance during the quarter.

Investment Outlook And Fund Positioning 

We believe uncertainty in the global markets is likely for the remainder of 2015. Severe currency fluctuations may continue to pressure earnings of dollar reporters. Central banks in most major countries have continued to keep interest rates low. In the U.S., however, the outlook may be quite different. The U.S. Federal Reserve is likely to raise interest rates this year, but it is unclear how investors may react once rates finally go up. The global economic picture remains muddled at best.

Given this backdrop of uncertainty, we believe that health care stocks will continue their outperformance. Despite higher stock prices, valuations remain reasonable, in our view. Further, earnings growth is above-average and highly visible. Moreover, for therapeutic stocks, new clinical data, new product approvals and new drug launches are expected to bolster the positive fundamentals of biotech and pharma companies.

For 2015, we continue to expect recurring themes to drive share price performance in the health care space. These include M&A, clinical catalysts, regulatory decisions and new product innovations. While there is some investor angst over U.S. drug pricing, we believe that is an isolated issue. Finally, while valuations have moved higher, growth rates have continued to move higher as well, and relative valuations appear to remain very much in check.

Top 10 Holdings (%)3,4as of Mar 31, 2015

Bristol-Myers Squibb Co 5.76
Regeneron Pharmaceuticals Inc 4.73
Amgen Inc 4.01
HCA Holdings Inc 3.99
Actavis plc 3.88
Biogen Inc 3.71
Novartis AG 3.69
AbbVie Inc 3.20
Shire PLC 3.10
Medivation Inc 3.06
Total 39.14


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 invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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 currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. 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
Samuel D. Isaly

Samuel D. Isaly

Founder and Managing Partner
OrbiMed Advisors LLC
Founded OrbiMed 1989

Sam Isaly is founding principal of OrbiMed Advisors LLC, a New York- based Eaton Vance investment adviser.

Sam has been active in international and health care investing throughout his career, beginning at Chase Manhattan Bank in 1968. In 1982, his company, Gramercy Associates, was the first to develop an integrated, worldwide system of analysis on the 100 leading pharmaceutical companies, with investment recommendations conveyed to 30 leading financial institutions in the U.S. and Europe. Gramercy Associates was absorbed into S.G. Warburg & Co., Inc., in 1986, where he was senior vice president and international equity analyst. For a time, Sam was also associated with Credit Suisse as an analyst of the European pharmaceutical industry. In all, he has worked as a pharmaceutical and international investment specialist for more than three decades. In July of 1989, Sam co-founded a predecessor organization to OrbiMed Advisors, an Eaton Vance investment adviser.

Sam earned a B.A. from Princeton University and a M.Sc. in economics from the London School of Economics. He is a native of Youngstown, Ohio and has lived in New York City since 1968, with the exception of 1974–1977, when he lived in Paris, France.

Sam's commentary has appeared in the Associated Press, Barron's, Barron's Online, Bloomberg, CNNfn.com, Forbes Global, Investor's Business Daily, The Miami Herald, The New York Times, The Sacramento Bee, SmartMoney, USA Today, The Wall Street Journal, and he has been featured on CNBC.

Education
  • B.A. Princeton University
  • M.Sc. London School of Economics
Experience
  • Managed Fund since 1989
 
Biography

Sven H. Borho, CFA

General Partner
OrbiMed Advisors LLC
Joined OrbiMed 1991

Sven Borho is a founding general partner of OrbiMed Advisors LLC, a New York-based Eaton Vance investment adviser. He is a portfolio manager for Orbimed's public equity funds and heads the firm's trading efforts.

Sven started his career in 1991 when he joined Mehta and Isaly as a senior analyst covering European pharmaceutical firms and biotechnology companies worldwide. In 1993, he became portfolio manager.

Sven studied business administration at Bayreuth University in Germany and earned a M. Sc. (Econ.) from The London School of Economics. He is a CFA charterholder. He is a citizen of both Germany and Sweden.

Education
  • Bayreuth University
  • M.Sc. London School of Economics
Experience
  • Managed Fund since 2005
 
Biography

Geoffrey C. Hsu, CFA

General Partner
OrbiMed Advisors LLC
Joined OrbiMed 2002

Geoffrey Hsu is a general partner of OrbiMed Advisors LLC, a New York-based Eaton Vance investment adviser.

Prior to joining OrbiMed in 2002 as a biotechnology analyst, Geoffrey worked as a financial analyst in the health care investment banking group at Lehman Brothers and served as manager of business development at Veritas Medicine.

Geoffrey earned an A.B., summa cum laude, from Harvard University and an M.B.A. from Harvard Business School. Prior to business school, he spent two years studying medicine at Harvard Medical School. He is a CFA charterholder.

Education
  • A.B. Harvard College
  • M.B.A. Harvard Business School
Experience
  • Managed Fund since 2005
 
Biography

Richard D. Klemm, Ph.D., CFA

Biotechnology Analyst
OrbiMed Advisors LLC
Joined OrbiMed 2000

Richard Klemm is a public equity analyst at OrbiMed Advisors LLC, a New York-based Eaton Vance investment adviser.

Richard joined OrbiMed in 2000 as a public biotechnology company analyst.

Richard earned a B.A. from the University of California, Berkeley in 1994 with majors in molecular and cell biology and economics. Dr. Klemm completed a Ph.D. from the Massachusetts Institute of Technology in molecular biology in 2000, and has published scientific articles in the fields of DNA replication and transcription. He is a CFA charterholder.

Education
  • B.A. University of California, Berkeley
  • Ph.D. Massachusetts Institute of Technology
Experience
  • Managed Fund since 2005
 
Biography

Trevor M. Polischuk, Ph.D.

Global Pharmaceutical Analyst
OrbiMed Advisors LLC
Joined OrbiMed 2003

Trevor Polischuk is a public equity analyst at OrbiMed Advisors LLC, a New York-based Eaton Vance investment adviser.

Trevor joined OrbiMed in 2003 as an analyst covering the major global pharmaceutical industry. Previously, he worked at Lehman Brothers as a senior research analyst covering the U.S. pharmaceutical industry. Dr. Polischuk began his career at Warner Lambert as a member of the Pharmaceutical Global Marketing Planning team. In this role, he coordinated marketing activities for the second generation gabapentinoid product, Pregabalin.

Trevor holds a doctorate in neuropharmacology & gross human anatomy and an M.B.A. from Queen's University.

Education
  • Ph.D. and M.B.A Queen's University
Experience
  • Managed Fund since 2005
 

Fund Literature

Fund Literature

Annual Report

Commentary

Fact Sheet

Full Prospectus

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

SAI

Semi-Annual Report

Summary Prospectus

XBRL


 

loading

We apologize for the inconvenience but we are experiencing a technical issue.

We are working on a solution. Please try again later.

If you require further assistance, please call:
1-800-836-2414.

    Your download will begin when this window is closed.

    You have successfully un-subscribed from .

    As a subscriber, you are one step away from getting more access and control. Register now by simply creating a password below.

    Passwords must be 8 to 20 alphanumeric characters, including a special character:
    ! @ # $ % ^ & * ( ) - _ = + , < . > ?.

    Cancel

    Trouble registering? Call 1-800-836-2414.

    Congratulations! You are registered.

    We have sent a verification email to . Please check your e-mail and click on the secured link to verify your account and complete the registration process.

    Trouble receiving the verification email? Call 1-800-836-2414.

    Congratulations!

    We are pleased to grant you access to this Eaton Vance website.

    Please click here to be logged in with your username .

    A verification email has been sent.

    You have requested a change to your password. In order to process this request, a verification email has been sent to . When you receive this email, please click the link contained within the email to start the password reset process.

    Trouble signing in? Call 1-800-836-2414.

    This account is restricted.

    Your account has limited access. You currently have access to content for:

    Firm restriction.

    This document has not been approved at your firm. We can not complete your subscription request at this time. Please try again later.


    If you need further assistance, please call 1-800-836-2414.

    This account has been updated.

    Your account has been updated to use your new email address .

    We have sent a verification email to with a verification link to confirm the change.

    Trouble receiving the verification email? Call 1-800-836-2414.

    This email account has not been verified.

    Your account has not yet been activated. We have sent a verification email to . If you'd like us to resend this, please click the Resend Email button below.

    Trouble receiving the verification email? Call 1-800-836-2414.

    Cancel

    Thank you.

    An e-mail verification has been re-sent to . Please check your e-mail and follow the instructions to complete the registration process.

    Trouble receiving the verification email? Call 1-800-836-2414.

    An email has been sent to the email address containing a link to verify your credentials. Please check your e-mail and click on the secured link to complete your request.

    Trouble receiving the verification email? Call 1-800-836-2414.

    Re-verification Required

    For security purposes we could not complete your request. Please click here to receive a new link to access the requested content.

    A new email has been sent to the email address containing a link to re-verify your credentials. Please check your e-mail and click on the secured link to complete your request.

    Trouble receiving the verification email? Call 1-800-836-2414.

    Verification Accepted

    You have been granted access to the requested content.

    Remember Me

    Click here to remain recognized on this device for future visits to EatonVance.com

    Do Not Remember Me

    Click here if you are using a Public Computer or Shared Device.

    Trouble receiving the verification email? Call 1-800-836-2414.

    Cancel

    Subscribe to new content: Register

    Please check the Fund Literature that you would like to subscribe to. Your subscriptions can be managed on your profile page.

    Subscribe All

    Thank you for downloading

    If your download did not start automatically, please click here.

    Stay on top of your game.

    Receive email notifications when the  is updated by clicking the subscribe button.

    Close

    Thank you for subscribing

    We have sent a verification email to . Please check your e-mail and click on the secured link to verify your subscription.

    Un-subscription request

    We have sent a verification email to . Please check your e-mail and click on the secured link to verify your request.

    Stay on top of your game.

    Receive email notifications of updates to  by entering your email address to subscribe.

    Cancel

    Subscribe to new content: Register

    Enter your e-mail address to reset your password.

    Already have an account?
    Subscribe to new content: Register

    Trouble registering? Call 1-800-836-2414.

    Simply enter your e-mail address to register.

    Cancel

    Already have an account?

    Register for more access and control.
    • Elevate your business practice with materials from the Advisor Institute.
    • Learn more with exclusive videos, conference calls, and the latest insights.
    • Follow products, get product notifications, and manage your Eaton Vance communications.
    Please wait while the data is being prepared for download.
    loading
    This message will automatically close when your file is ready.

    The information contained in this section of the website is designed solely for professional clients. If you are not a professional client you should not proceed any further. The content should not be looked at or distributed to retail clients.

    Certain products and services mentioned on this website may not be eligible for sale in some states or countries and they may not be suitable for all types of investors. This website does not constitute an offer or solicitation and is not directed at you if Eaton Vance Management (International) ltd (EVMI) is prohibited by any law of any jurisdiction from making the information on this website available to you and is not intended for any use that would be contrary to local law or regulation. No products and services mentioned on this website must be promoted in any jurisdiction where this would not be permitted.

    This website does not constitute investment, legal or tax advice with respect to our products and services and it is important that you do not rely on its content when making an investment decision. You should obtain relevant and specific professional advice before making any decision to enter into an investment transaction. EVMI does not represent that the information on this website, including any third party information, is accurate or complete and it should not be relied upon as such. Past performance is not a guide to future returns.

    The value of investment funds and the income therefrom may go down as well as up and you may not get back the original amount invested. Your capital could be at risk. You are not certain to make money from your investments and you may lose money. Exchange rates may cause the value of overseas investments and the income therefrom to rise and fall.

    Information in this section may contain statements that are not historical facts, referred to as forward-looking statements. A Fund’s future results may differ significantly from those stated in forward-looking statements, 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 advisory, administrative and service contracts, and other risks.

    All information in this section are for "Professional Client ONLY". To access this website users must qualify as a "Professional client". Any person who does not fall into the categories listed above should not rely on the information contained in this website.

    By clicking the Okay button below, you confirm that you are from an eligible jurisdiction to review material relating to the Fund or Strategies (or are authorised to conduct investment business in the jurisdiction within which you are resident and under the law of that jurisdiction, you are authorised to view material relating to collective investment schemes) and that you are a Professional Client.


    Cancel

    Disclosure - Restricted content

    The information contained in this section of the website is designed solely for professional clients. If you are not a professional client you should not proceed any further. The content should not be looked at or distributed to retail clients.

    Certain products and services mentioned on this website may not be eligible for sale in some states or countries and they may not be suitable for all types of investors. This website does not constitute an offer or solicitation and is not directed at you if Eaton Vance Management (International) ltd (EVMI) is prohibited by any law of any jurisdiction from making the information on this website available to you and is not intended for any use that would be contrary to local law or regulation. No products and services mentioned on this website must be promoted in any jurisdiction where this would not be permitted.

    This website does not constitute investment, legal or tax advice with respect to our products and services and it is important that you do not rely on its content when making an investment decision. You should obtain relevant and specific professional advice before making any decision to enter into an investment transaction. EVMI does not represent that the information on this website, including any third party information, is accurate or complete and it should not be relied upon as such. Past performance is not a guide to future returns.

    The value of investment funds and the income therefrom may go down as well as up and you may not get back the original amount invested. Your capital could be at risk. You are not certain to make money from your investments and you may lose money. Exchange rates may cause the value of overseas investments and the income therefrom to rise and fall.

    Information in this section may contain statements that are not historical facts, referred to as forward-looking statements. A Fund’s future results may differ significantly from those stated in forward-looking statements, 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 advisory, administrative and service contracts, and other risks.

    All information in this section are for "Professional Client ONLY". To access this website users must qualify as a "Professional client". Any person who does not fall into the categories listed above should not rely on the information contained in this website.

    By clicking the Okay button below, you confirm that you are from an eligible jurisdiction to review material relating to the Fund or Strategies (or are authorised to conduct investment business in the jurisdiction within which you are resident and under the law of that jurisdiction, you are authorised to view material relating to collective investment schemes) and that you are a Professional Client.


    Cancel

    Investment Professionals

    Register Now

    Already have an account? .

     

    Symbol:  

    NAV as of