Overview

Historical Returns (%) as of Sep 30, 2022

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. Max Sales Charge: 1%.
 

Fund Facts as of Aug 31, 2022

Performance Inception 04/01/1932
Investment Objective Current income and long-term growth of capital
Total Net Assets $896.8M
Expense Ratio4 1.70%
CUSIP 277905840

Top 10 Holdings (%)5,6 as of Jun 30, 2022

Microsoft Corp 3.92
Apple Inc 3.68
Alphabet Inc - CL C 3.35
Amazon.com Inc 2.30
AbbVie Inc 1.69
Coca-Cola Co 1.66
United States Treasury Note/Bond 1.54
Elevance Health Inc 1.41
NextEra Energy Inc 1.40
Visa Inc 1.38
Total 22.34
 

Morningstar Rating™ as of Aug 31, 2022

Time Period Rating Funds in
Allocation--50% to 70% Equity
Category
Overall 707
3 Years 707
5 Years 647
10 Years 480
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2022 Morningstar. 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 are responsible for any damages or losses arising from any use of this information.
 

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

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments 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. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 Sep 30, 2022

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. Max Sales Charge: 1%.
 

Calendar Year Returns (%)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fund at NAV 10.61 20.14 8.78 1.86 3.88 12.63 -4.03 22.71 13.21 13.21
S&P 500® Index2 16.00 32.39 13.69 1.38 11.96 21.83 -4.38 31.49 18.40 28.71
Bloomberg U.S. Aggregate Bond Index3 4.21 -2.02 5.97 0.55 2.65 3.54 0.01 8.72 7.51 -1.54
 

Fund Facts

Expense Ratio4 1.70%
Performance Inception 04/01/1932
Distribution Frequency Quarterly

Yield Information as of Aug 31, 2022

Distribution Rate at NAV 0.40%
SEC 30-day Yield7 0.78%
 

Risk Measures (3 Year)8 as of Sep 30, 2022

Alpha (%) -3.04
Beta 0.66
R-Squared (%) 96.65
Standard Deviation (%) 13.64
Sharpe Ratio 0.14
 

Morningstar Rating™ as of Aug 31, 2022

Time Period Rating Funds in
Allocation--50% to 70% Equity
Category
Overall 707
3 Years 707
5 Years 647
10 Years 480
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2022 Morningstar. 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 are responsible for any damages or losses arising from any use of this information.
 

NAV History

Date NAV NAV Change
Oct 03, 2022 $9.44 $0.18
Sep 30, 2022 $9.26 -$0.09
Sep 29, 2022 $9.35 -$0.11
Sep 28, 2022 $9.46 $0.15
Sep 27, 2022 $9.31 -$0.04
Sep 26, 2022 $9.35 -$0.09
Sep 23, 2022 $9.44 -$0.09
Sep 22, 2022 $9.53 -$0.08
Sep 21, 2022 $9.61 -$0.07
Sep 20, 2022 $9.68 -$0.08
 

Distribution History9

Ex-Date Distribution Reinvest NAV
Sep 09, 2022 $0.01540 $10.02
Jun 09, 2022 $0.00980 $9.97
Mar 09, 2022 $0.00490 $10.57
Dec 09, 2021 $0.03280 $11.43
Jun 09, 2021 $0.00270 $11.67
Mar 09, 2021 $0.00620 $11.06
Sep 09, 2020 $0.00910 $10.37
Jun 09, 2020 $0.01630 $9.95
Mar 10, 2020 $0.01970 $9.37
Dec 17, 2019 $0.00950 $9.83
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History9

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 09, 2021 $0.08820 $0.72990 $11.43
Dec 10, 2020 $0.07340 $10.77
Aug 18, 2020 $0.02140 $0.08340 $10.38
Dec 17, 2019 $0.03700 $0.16480 $9.83
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. Fund invests in one or more affiliated investment companies (Portfolios). Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio in which it invests.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments 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. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)6 as of Jun 30, 2022

Stocks 59.59
U.S. Common Stocks 57.75
Foreign Common Stocks 1.59
Preferred Stock 0.26
Fixed Income 37.60
Investment Grade Corporate Bonds 12.02
U.S. Treasuries 11.04
Asset Backed Securities 4.48
Mortgage Backed Securities 3.70
Commercial Mortgage Backed Securities 4.55
Collateralized Mortgage Obligations 1.03
Other 0.77
Cash 2.81
Total 100.00

GICS Sector Breakdown (%)10 as of Jun 30, 2022

 

Portfolio Statistics - Stock Portfolio as of Jun 30, 2022

Average Market Cap $476.9B
Price/Earnings Ratio 18.83
Price/Book 4.20

Portfolio Statistics - Core Bond Portfolio as of Jun 30, 2022

Average Coupon 2.91%
Average Maturity 12.87 yrs.
Duration 5.96 yrs.
 

Credit Quality (%)12 as of Jun 30, 2022

AAA 44.69
AA 7.30
A 17.19
BBB 21.77
BB 4.76
B 0.90
CCC or Lower 0.40
Not Rated 6.38
Cash -3.40
Total 100.00
Ratings are based on Moody’s, S&P or Fitch, or Kroll for securitized debt instruments only (such as asset-backed securities and mortgage-backed securities), as applicable. If securities are rated differently by the ratings agencies, the highest 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 an issuance 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, Fitch or Kroll (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.
 

Fund Holdings6,13 as of Aug 31, 2022

Holding Coupon Rate Maturity Date % of Net Assets
Apple Inc 0.00% 3.91%
Microsoft Corp 0.80% 3.72%
Alphabet Inc - CL C 0.00% 3.13%
Amazon.com Inc 0.00% 2.54%
MSILF GOVERNMENT PORTFOLIO MSILF GOVERNMENT PORTFOLIO 2.12% 12/31/2030 1.81%
Coca-Cola Co 1.88% 1.53%
NextEra Energy Inc 2.20% 1.41%
United States Treasury Note/Bond 1.88% 02/28/2027 1.37%
AbbVie Inc 0.00% 1.34%
Visa Inc 0.60% 1.30%
View All

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

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments 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. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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

Charles Gaffney

Charles Gaffney

Managing Director, Portfolio Manager
Joined Eaton Vance 2003

Biography

Charlie is a managing director of Morgan Stanley and a portfolio manager on the Eaton Vance Core/Growth team. He is responsible for buy and sell decisions, portfolio construction and risk management for a number of Eaton Vance U.S. core equity strategies. He is a member of the Eaton Vance Equity Strategy Committee. He is also a vice president and portfolio manager for Calvert Research and Management. He joined Eaton Vance in 2003. Morgan Stanley acquired Eaton Vance in March 2021.

Charlie began his career in the investment management industry in 1996. Before joining Eaton Vance, he was a sector portfolio manager with Brown Brothers Harriman and a senior equity analyst with Morgan Stanley Dean Witter.

Charlie earned a B.A. from Bowdoin College and an MBA from Fordham University.

Education
  • B.A. Bowdoin College
  • M.B.A. Graduate School of Business, Fordham University

Experience
  • Managed Fund since 2009

Other funds managed
 
Vishal Khanduja, CFA

Vishal Khanduja, CFA

Managing Director, Co-Head of US Multi-Sector
Joined Eaton Vance 2016

Biography

Vishal Khanduja is the Co-Head of U.S. Multi-Sector and a portfolio manager on the Fixed Income team. He is responsible for buy and sell decisions and portfolio construction. He joined Eaton Vance in 2016. Morgan Stanley acquired Eaton Vance in March 2021.

Vishal began his career in the investment management industry in 2005. Before joining Eaton Vance, he was a senior vice president, portfolio manager and head of taxable fixed income for Calvert Investments. Previously, he was a vice president and portfolio manager at Columbia Threadneedle and associate director of fixed-income analytics at Galliard Capital.

Vishal earned a bachelor of engineering from VJTI, Mumbai, India and an MBA from the Tippie School of Management at the University of Iowa. He is a member of the CFA Institute and the CFA Society Boston. He is a CFA charterholder.

Education
  • B.Eng. Veermata Jijabai Technological Institute, Mumbai
  • M.B.A. Tippie School of Management, University of Iowa

Experience
  • Managed Fund since 2017

 
Brian S. Ellis, CFA

Brian S. Ellis, CFA

Executive Director, Portfolio Manager
Joined Eaton Vance 2016

Biography

Brian Ellis is a portfolio manager on the Multi-Sector team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s Multi-Sector strategies, including Calvert Research and Management Multi-Sector strategies. He joined Eaton Vance in 2016. Morgan Stanley acquired Eaton Vance in March 2021.

Brian began his career in the investment management industry in 2006. Before joining Eaton Vance, he worked as a portfolio manager of fixed-income strategies for Calvert Investments. He was previously affiliated with Legg Mason Capital Management (now ClearBridge Investments).

Brian earned a B.S. in finance from Salisbury University. He is a CFA charterholder and an FSA credential holder. He is a member of the CFA Institute and the CFA Society Boston.

Education
  • B.S. Salisbury University

Experience
  • Managed Fund since 2017

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Jun 30, 2022

Commentary

Download Commentary - Last updated: Mar 31, 2022

Annual Report

Download Annual Report - Last updated: Dec 31, 2021

Full Prospectus

Download Full Prospectus - Last updated: May 1, 2022

Q1 Holdings

Download Q1 Holdings - Last updated: Mar 31, 2022

Q3 Holdings

Download Q3 Holdings - Last updated: Sep 30, 2021

Holdings - Form N-PORT

Download Holdings - Form N-PORT

SAI

Download SAI - Last updated: May 1, 2022

Semi-Annual Report

Download Semi-Annual Report - Last updated: Jun 30, 2022

Summary Prospectus

Download Summary Prospectus - Last updated: May 1, 2022