Overview

Approximately equal-weighted across the target 1- to 10-year range.

Source: Eaton Vance. This table is for illustrative purposes only.

Historical Returns (%)as of Jun 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
Fund at NAV 0.22 1.78 3.04 1.22
Bloomberg Barclays U.S. Intermediate Corporate Bond Index2 -0.04 1.49 2.67 1.68 2.83 3.29 0.65
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 or equal to one year is cumulative. The share class has no sales charge.

Fund Factsas of Jun 30, 2017

Class I Inception 09/27/2016
Investment Objective Current income
Total Net Assets $7.3M
Minimum Investment $250000
Expense Ratio (Gross)3 0.57%
Expense Ratio (Net)3,4 0.40%
CUSIP 27826X300

Portfolio Management

Thomas H. Luster, CFA Managed Fund since inception
Maria Cappellano Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

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. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment 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. 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. 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

Historical Returns (%)as of Jun 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
Fund at NAV 0.22 1.78 3.04 1.22
Bloomberg Barclays U.S. Intermediate Corporate Bond Index2 -0.04 1.49 2.67 1.68 2.83 3.29 0.65
Morningstar Corporate Bond Category5 0.27 2.24 3.68 2.99 3.21 3.94
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 or equal to one year is cumulative. The share class has no sales charge.

Fund Facts

Expense Ratio (Gross)3 0.57%
Expense Ratio (Net)3,4 0.40%
Class I Inception 09/27/2016
Distribution Frequency Monthly

Yield Information6as of Jun 30, 2017

Distribution Rate at NAV 2.61%
Subsidized SEC 30-day Yield 2.44%
Unsubsidized SEC 30-day Yield -1.09%

NAV History

Date NAV NAV Change
Jul 19, 2017 $9.98 $0.01
Jul 18, 2017 $9.97 $0.01
Jul 17, 2017 $9.96 $0.01
Jul 14, 2017 $9.95 $0.01
Jul 13, 2017 $9.94 -$0.01
Jul 12, 2017 $9.95 $0.02
Jul 11, 2017 $9.93 $0.00
Jul 10, 2017 $9.93 $0.01
Jul 07, 2017 $9.92 $0.00
Jul 06, 2017 $9.92 -$0.01

Distribution History7

Ex-Date Distribution Reinvest NAV
Jun 30, 2017 $0.02133 $9.94
May 31, 2017 $0.02174 $9.94
Apr 28, 2017 $0.02130 $9.89
Mar 31, 2017 $0.02058 $9.83
Feb 28, 2017 $0.02116 $9.85
Jan 31, 2017 $0.01932 $9.79
Dec 30, 2016 $0.01876 $9.77
Nov 30, 2016 $0.01859 $9.74
Oct 31, 2016 $0.01623 $9.94
Sep 30, 2016 $0.00043 $9.98
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
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

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. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment 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. 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. 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 (%)8as of Jun 30, 2017

U.S. Corporate Bonds 62.48
Foreign Corporate Bonds 21.99
Cash 15.53
Total 100.00

Portfolio Statisticsas of Jun 30, 2017

Number of Holdings 61
Average Maturity 5.40 yrs.
Average Duration 4.11 yrs.
Average Price $102.90

Credit Quality (%)9as of Jun 30, 2017

AA 3.13
A 27.43
BBB 60.87
BB 8.57
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings 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 or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings 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 ratings agencies stated above.

Maturity Distribution (%)9as of Jun 30, 2017

Less Than 1 Year 7.53
1 To 3 Years 17.77
3 To 5 Years 17.77
5 To 10 Years 54.71
10 To 20 Years 2.22
20 To 30 Years 0.00
More Than 30 Years 0.00
Total 100.00

Fund Holdings8,10as of May 31, 2017

Holding Coupon Rate Maturity Date % of Net Assets
Macquarie Bank Ltd 6.63% 04/07/2021 2.27%
Royal Bank of Scotland Group PLC 6.13% 12/15/2022 2.23%
Regency Energy Partners LP / Regency Energy Finance Corp 5.00% 10/01/2022 2.18%
AES Gener SA 5.25% 08/15/2021 2.16%
Becton Dickinson and Co 3.73% 12/15/2024 2.16%
Royal Bank of Canada 4.65% 01/27/2026 2.16%
Encana Corp 6.50% 05/15/2019 2.14%
Legg Mason Inc 4.75% 03/15/2026 2.13%
Santander Issuances SAU 5.18% 11/19/2025 2.11%
Newell Brands Inc 3.85% 04/01/2023 2.10%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

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. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment 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. 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. 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

Commentary

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

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. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment 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. 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. 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.

About Risk: 

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. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment 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. 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. 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
Thomas H. Luster, CFA

Thomas H. Luster, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1995

Thomas Luster is a vice president of Eaton Vance Management, and director of Eaton Vance’s quantitative strategies team within diversified fixed income. He is responsible for rules-based fixed-income strategies and quantitative research. He began his career in the investment management industry with Eaton Vance in 1995.

Before entering the investment management industry, Tom was affiliated with Deloitte & Touche Consulting and the Naval Center for Space Technology.

Tom earned a B.S. from George Washington University and an MBA from the University of Chicago. Tom is a member of the Boston Security Analysts Society and was formerly chairman and a governor’s appointee to the board of trustees of Health Care Security, which oversees the investment of Tobacco Litigation Settlement funds for the Commonwealth of Massachusetts. He is a CFA charterholder.

Tom’s commentary has appeared in The Wall Street Journal, Reuters, Investor’s Business Daily and American Banker, and he has been featured on New England Cable News and Bloomberg Radio.

Education
  • B.S. George Washington University
  • M.B.A. Booth School of Business, University of Chicago

Experience
  • Managed Fund since inception

Other funds managed
 
Biography
Maria Cappellano

Maria Cappellano

Vice President, Eaton Vance Management
Joined Eaton Vance in 1998

Maria Cappellano is a vice president of Eaton Vance Management, and a fixed-income trader and portfolio manager on Eaton Vance's investment grade fixed-income team.

Maria joined Eaton Vance in 1998. She is the primary trader for money market funds and short duration portfolios and is involved in the planning and implementation of investment strategy for short duration and money market portfolios.

Maria earned a B.S. in business administration with a concentration in finance, summa cum laude, from Northeastern University.

Education
  • B.S. Northeastern University

Experience
  • Managed Fund since inception

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2017

Full Prospectus

Download - Last updated: Jun 27, 2017

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

Download

Launch of Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund

Download - Last updated: Sep 28, 2016

SAI

Download - Last updated: Sep 27, 2016

Semi-Annual Report

Download - Last updated: Feb 28, 2017

Summary Prospectus

Download - Last updated: Jun 27, 2017

XBRL

Download - Last updated: Oct 5, 2016