Overview

Growth of $10,000

Since Fund inception ended 06/30/2017

  • Class A at NAV

Historical Returns (%)as of Jun 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
07/31/2017
Fund at NAV 1.05 1.68 5.76 6.51 4.84 3.07 6.82
Fund w/Max Sales Charge -3.77 -3.17 0.75 1.48 3.16 2.07 6.15
Bloomberg Barclays U.S. Aggregate Bond Index1 0.43 1.10 2.71 -0.51 2.71 2.02 3.51
06/30/2017
Fund at NAV 0.29 1.53 4.67 7.49 4.63 3.23 6.76
Fund w/Max Sales Charge -4.49 -3.26 -0.30 2.35 2.96 2.24 6.08
Bloomberg Barclays U.S. Aggregate Bond Index1 -0.10 1.45 2.27 -0.31 2.48 2.21 3.50
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. Prior to 5/1/15, Fund was called Eaton Vance Build America Bond Fund, had a different objective and employed a different investment strategy. Please see prospectus for more details. Max Sales Charge: 4.75%.

Fund Factsas of Jul 31, 2017

Class A Inception 11/17/2009
Investment Objective Total return
Total Net Assets $80.5M
Minimum Investment $1000
Expense Ratio (Gross)2 1.33%
Expense Ratio (Net)2,3 0.74%
CUSIP 277923470

Top 10 Holdings (%)4,5as of Jun 30, 2017

United States Treasury Inflation Indexed Bonds
United States Treasury Inflation Indexed Bonds
Mexican Bonos
Seagate HDD Cayman
Signet UK Finance PLC
DB Master Finance LLC 2015-1
Avis Budget Rental Car Funding AESOP LLC
MDC Holdings Inc
Och-Ziff Finance Co LLC
Queensland Treasury Corp
Total 20.68

Portfolio Management

Kathleen C. Gaffney, CFA Managed Fund since 2015
Henry Peabody, CFA Managed Fund since 2017
Matthew T. Buckley, CFA Managed Fund since 2015

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. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks and other hybrid securities will generally decline. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. 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
07/31/2017
Fund at NAV 1.05 1.68 5.76 6.51 4.84 3.07 6.82
Fund w/Max Sales Charge -3.77 -3.17 0.75 1.48 3.16 2.07 6.15
Bloomberg Barclays U.S. Aggregate Bond Index1 0.43 1.10 2.71 -0.51 2.71 2.02 3.51
Morningstar Intermediate-Term Bond Category6 0.50 1.20 3.07 0.59 2.47 2.24
06/30/2017
Fund at NAV 0.29 1.53 4.67 7.49 4.63 3.23 6.76
Fund w/Max Sales Charge -4.49 -3.26 -0.30 2.35 2.96 2.24 6.08
Bloomberg Barclays U.S. Aggregate Bond Index1 -0.10 1.45 2.27 -0.31 2.48 2.21 3.50
Morningstar Intermediate-Term Bond Category6 -0.03 1.49 2.57 0.94 2.21 2.45
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. Prior to 5/1/15, Fund was called Eaton Vance Build America Bond Fund, had a different objective and employed a different investment strategy. Please see prospectus for more details. Max Sales Charge: 4.75%.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 10.36 20.77 8.60 -5.24 10.81 -6.21 11.40
Bloomberg Barclays U.S. Aggregate Bond Index1 6.97 5.24 5.93 6.54 7.84 4.21 -2.02 5.97 0.55 2.65
Morningstar Intermediate-Term Bond Category6 8.53 23.96 12.10 -6.08 18.65 0.66 5.05

Fund Facts

Expense Ratio (Gross)2 1.33%
Expense Ratio (Net)2,3 0.74%
Class A Inception 11/17/2009
Distribution Frequency Monthly

Yield Information7as of Jul 31, 2017

Distribution Rate at NAV 3.30%
Subsidized SEC 30-day Yield 2.76%
Unsubsidized SEC 30-day Yield 2.34%

Morningstar Rating™as of Jul 31, 2017

Time Period Rating Funds in
Intermediate-Term Bond
Category
Overall **** 854
3 Years ***** 854
5 Years **** 766
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.

©2017 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
Aug 17, 2017 $11.87 $0.01
Aug 16, 2017 $11.86 $0.02
Aug 15, 2017 $11.84 -$0.01
Aug 14, 2017 $11.85 -$0.01
Aug 11, 2017 $11.86 $0.00
Aug 10, 2017 $11.86 $0.00
Aug 09, 2017 $11.86 -$0.01
Aug 08, 2017 $11.87 $0.00
Aug 07, 2017 $11.87 -$0.01
Aug 04, 2017 $11.88 -$0.01

Distribution History8

Ex-Date Distribution Reinvest NAV
Jul 31, 2017 $0.03324 $11.87
Jun 30, 2017 $0.03441 $11.78
May 31, 2017 $0.02928 $11.78
Apr 28, 2017 $0.03540 $11.77
Mar 31, 2017 $0.03813 $11.70
Feb 28, 2017 $0.02953 $11.69
Jan 31, 2017 $0.03506 $11.62
Dec 30, 2016 $0.03060 $11.45
Nov 30, 2016 $0.02961 $11.38
Oct 31, 2016 $0.02803 $11.60
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
Dec 10, 2015 $0.14920 $10.80
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. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks and other hybrid securities will generally decline. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. 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 (%)10as of Jun 30, 2017

Investment Grade Corporate Bonds 28.7
Cash 20.6
Asset Backed Securities 15.3
U.S. Commercial Mortgage Backed Securities 9.8
Government Related Bonds 8.3
High Yield Corporate Bonds 7.5
U.S. Treasuries 7.3
Other 2.5

Portfolio Statisticsas of Jun 30, 2017

Number of Holdings 113
Average Coupon 4.43%
Average Maturity 8.73 yrs.
Effective Duration 5.16 yrs.
Average Price $96.27

Credit Quality (%)10as of Jun 30, 2017

AAA 19.40
AA 4.19
A 9.23
BBB 52.68
BB 8.32
B 2.28
CCC or Lower 0.82
Not Rated 3.07
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 (%)10as of Jun 30, 2017

Less Than 1 Year 7.72
1 To 3 Years 12.86
3 To 5 Years 9.38
5 To 10 Years 52.11
10 To 20 Years 6.85
20 To 30 Years 11.08
More Than 30 Years 0.00
Total 100.00

Fund Holdings5,11as of Jun 30, 2017

Holding Coupon Rate Maturity Date % of Net Assets
EV Cash Reserves Fund LLC 0.00% 19.17%
United States Treasury Inflation Indexed Bonds 0.25% 01/15/2025 5.08%
United States Treasury Inflation Indexed Bonds 0.38% 01/15/2027 2.25%
Mexican Bonos 7.75% 05/29/2031 2.07%
Seagate HDD Cayman 4.88% 06/01/2027 1.90%
Signet UK Finance PLC 4.70% 06/15/2024 1.81%
DB Master Finance LLC 2015-1 3.26% 02/20/2045 1.71%
Avis Budget Rental Car Funding AESOP LLC 2.62% 09/20/2019 1.53%
MDC Holdings Inc 6.00% 01/15/2043 1.44%
Och-Ziff Finance Co LLC 4.50% 11/20/2019 1.42%
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. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks and other hybrid securities will generally decline. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. 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

No commentary 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. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks and other hybrid securities will generally decline. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. 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. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks and other hybrid securities will generally decline. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. 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
Kathleen C. Gaffney, CFA

Kathleen C. Gaffney, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

Kathleen Gaffney is a vice president of Eaton Vance Management, director of diversified fixed income and lead portfolio manager for Eaton Vance’s multisector bond and core plus bond strategies. She is responsible for buy and sell decisions and portfolio construction. She joined Eaton Vance in 2012.

Kathleen began her career in the investment management industry in 1984. Before joining Eaton Vance, Kathleen was a vice president of Loomis, Sayles & Company and portfolio manager for its fixed-income group, managing a variety of mutual funds and institutional strategies.

Kathleen earned a B.A. from the University of Massachusetts, Amherst. She is a CFA charterholder. Her commentary has appeared in The Wall Street Journal, the Financial Times, Institutional Investor, Bloomberg and The New York Times, among other outlets. She has made appearances on Bloomberg TV, Bloomberg Radio and CNBC.

Education
  • B.A. University of Massachusetts, Amherst

Experience
  • Managed Fund since 2015

Other funds managed
 
Biography
Henry Peabody, CFA

Henry Peabody, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2013

Henry Peabody is a vice president of Eaton Vance Management and a portfolio manager for Eaton Vance’s multisector bond and core plus bond strategies. He is also a credit analyst on Eaton Vance’s diversified fixed-income team, supporting core investment-grade, cash management and multisector products. He joined Eaton Vance in 2013.

Henry began his career in the investment management industry in 2001. Before joining Eaton Vance, he was a credit analyst with Merganser Capital Management. He was previously affiliated with Emerson Investment Management.

Henry earned a B.A. from Trinity College and an MBA from the Carroll School of Management at Boston College. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.A. Trinity College
  • M.B.A. Boston College

Experience
  • Managed Fund since 2017

Other funds managed
 
Biography

Matthew T. Buckley, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2005

Matthew Buckley is a vice president of Eaton Vance Management and a structured finance analyst.

Matthew joined Eaton Vance in 2005. Previous experience includes affiliations with Standard & Poor’s for three years, Citizen’s Bank in the Treasury department and Woodcliff Company, a boutique ABS investment bank.

Matthew earned a B.A. in economics with a concentration in premed from the College of the Holy Cross and an M.B.A. in finance from Babson College’s F.W. Olin Graduate School of Business.

Education
  • B.A. College of the Holy Cross
  • M.B.A. Babson College

Experience
  • Managed Fund since 2015

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2017

Annual Report

Download - Last updated: Sep 30, 2016

Full Prospectus

Download - Last updated: Jun 27, 2017

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

Download

SAI

Download - Last updated: Feb 1, 2017

Semi-Annual Report

Download - Last updated: Mar 31, 2017

Summary Prospectus

Download - Last updated: Jun 27, 2017

XBRL

Download - Last updated: Feb 13, 2017