Overview

Historical Returns (%)as of Jun 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
08/31/2016
Fund at NAV 0.46 2.30 7.83 11.93 13.40 10.05 5.42
Market Price 0.54 3.62 9.52 18.53 13.76 9.23 5.75
06/30/2016
Fund at NAV 2.25 3.70 7.78 13.46 11.30 10.76 5.99
Market Price 2.79 -1.05 8.64 19.50 11.19 9.82 6.50
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, 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. The Fund's performance at market price will differ from its results at NAV. Returns are historical and are calculated by determining the percentage change in net asset value or market price (as applicable) with all distributions reinvested and includes management fees and other expenses. Until the reinvestment of Fund distributions is completed, returns are calculated using the lower of the net asset value or market price of the shares on the distribution ex date. Once the reinvestment is complete, returns are calculated using the average reinvestment price. Performance less than or equal to one year is cumulative.

Distribution Rates1

as of Sep 27, 2016
Distribution Rate at NAV 3.59%
Taxable-Equivalent Distribution Rate at NAV 7.32%
Distribution Rate at Market Price 3.76%
Taxable-Equivalent Distribution Rate at Market Price 7.66%

Fund Factsas of Aug 31, 2016

Performance Inception 01/29/1999
Investment Objective Current income
CUSIP 27826F101

Portfolio Management

Craig R. Brandon, CFA Managed Fund since 2014

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Fund are only available for purchase and sale at current market price on a stock exchange. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Investors should review and consider carefully the Fund’s investment objective, risks, charges and expenses.

The premium/discount is calculated as [(market price/NAV)-1].

Links to Morningstar Fact Sheet and CEF Connect: By clicking on the link from this page to the Morningstar fact sheet or CEF Connect, you will leave the Eaton Vance website. Eaton Vance is not responsible for the content of any such third-party website. See “Terms and Conditions” below.


Performance

Historical Returns (%)as of Jun 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
08/31/2016
Fund at NAV 0.46 2.30 7.83 11.93 13.40 10.05 5.42
Market Price 0.54 3.62 9.52 18.53 13.76 9.23 5.75
06/30/2016
Fund at NAV 2.25 3.70 7.78 13.46 11.30 10.76 5.99
Market Price 2.79 -1.05 8.64 19.50 11.19 9.82 6.50
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, 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. The Fund's performance at market price will differ from its results at NAV. Returns are historical and are calculated by determining the percentage change in net asset value or market price (as applicable) with all distributions reinvested and includes management fees and other expenses. Until the reinvestment of Fund distributions is completed, returns are calculated using the lower of the net asset value or market price of the shares on the distribution ex date. Once the reinvestment is complete, returns are calculated using the average reinvestment price. Performance less than or equal to one year is cumulative.

Calendar Year Returns (%)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fund at NAV 8.84 -3.40 -32.99 43.13 -0.91 18.76 17.39 -6.40 20.74 5.55
Market Price 13.25 -7.29 -38.82 67.04 5.19 20.59 16.04 -16.17 23.74 7.72

Fund Facts

Performance Inception 01/29/1999

Distribution Rates1

as of Sep 27, 2016
Distribution Rate at NAV 3.59%
Taxable-Equivalent Distribution Rate at NAV 7.32%
Distribution Rate at Market Price 3.76%
Taxable-Equivalent Distribution Rate at Market Price 7.66%

Distribution History2

Ex-Date Distribution Reinvest Price
Sep 08, 2016 $0.04380 $14.32
Aug 09, 2016 $0.04630 $14.19
Jul 07, 2016 $0.04630 $14.03
Jun 09, 2016 $0.04630 $14.28
May 10, 2016 $0.05050 $13.96
Apr 07, 2016 $0.05050 $14.02
Mar 09, 2016 $0.05884 $14.08
Feb 09, 2016 $0.05884 $13.83
Jan 12, 2016 $0.05884 $13.41
Dec 09, 2015 $0.05884 $13.30
View All
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.

Tax Character of Distributions

Exempt-Interest Dividends    
Non-AMT AMT Total Non-Qualified Ordinary Dividends Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2015 $0.66 $0.05 $0.71 $0.02 $0.00 $0.00 $0.73
2014 $0.69 $0.06 $0.75 $0.00 $0.00 $0.00 $0.75
2013 $0.73 $0.06 $0.79 $0.00 $0.00 $0.00 $0.79
2012 $0.75 $0.08 $0.83 $0.00 $0.00 $0.00 $0.83
2011 $0.77 $0.12 $0.89 $0.00 $0.00 $0.00 $0.89
2010 $0.75 $0.13 $0.88 $0.00 $0.00 $0.00 $0.88
2009 $0.68 $0.12 $0.80 $0.00 $0.00 $0.00 $0.80
2008 $0.60 $0.07 $0.67 $0.00 $0.00 $0.00 $0.67
2007 $0.61 $0.06 $0.67 $0.00 $0.00 $0.00 $0.67
2006 $0.68 $0.05 $0.73 $0.00 $0.00 $0.00 $0.73
2005 $0.80 $0.07 $0.87 $0.00 $0.00 $0.00 $0.87
Distributions (%)
2015 90.74% 6.83% 97.57% 2.43% 0.00% 0.00% 100.00%
2014 92.17% 7.78% 99.95% 0.05% 0.00% 0.00% 100.00%
2013 91.88% 7.95% 99.83% 0.17% 0.00% 0.00% 100.00%
2012 89.81% 10.19% 100.00% 0.00% 0.00% 0.00% 100.00%
2011 86.58% 13.36% 99.94% 0.06% 0.00% 0.00% 100.00%
2010 84.55% 15.27% 99.82% 0.18% 0.00% 0.00% 100.00%
2009 86.00% 13.98% 99.98% 0.02% 0.00% 0.00% 100.00%
2008 89.37% 10.63% 100.00% 0.00% 0.00% 0.00% 100.00%
2007 91.56% 8.44% 100.00% 0.00% 0.00% 0.00% 100.00%
2006 92.48% 7.52% 100.00% 0.00% 0.00% 0.00% 100.00%
2005 92.23% 7.77% 100.00% 0.00% 0.00% 0.00% 100.00%
This data reflects distributions paid on Fund shares held for the full calendar year and is not predictive of the tax character of current or future distributions. Fund shareholders should refer to the individual IRS Form 1099-DIVs provided to them shortly after each year-end to determine the appropriate federal income tax treatment of the distributions they receive. Eaton Vance is not responsible for any errors in tax reporting that may result from using the above data. Exempt-interest dividends are not subject to regular federal income tax. Exempt-interest dividends derived from specified private activity bonds are subject to the alternative minimum tax (AMT). Non-qualified ordinary dividends are subject to federal income tax at ordinary rates. Capital gains distributions are taxable at long-term capital gain rates. Nondividend distributions, also known as return of capital distributions, are not subject to current federal income tax. Instead, the tax cost basis of each shareholder receiving a return of capital distribution is reduced by the amount of the distribution.

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Fund are only available for purchase and sale at current market price on a stock exchange. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Investors should review and consider carefully the Fund’s investment objective, risks, charges and expenses.

The premium/discount is calculated as [(market price/NAV)-1].

Links to Morningstar Fact Sheet and CEF Connect: By clicking on the link from this page to the Morningstar fact sheet or CEF Connect, you will leave the Eaton Vance website. Eaton Vance is not responsible for the content of any such third-party website. See “Terms and Conditions” below.


Portfolio

Fund Holdings3,4as of Jul 31, 2016

Holding Coupon Rate Maturity Date % of Net Assets
Foothill-Eastern Transportation Corridor Agency 0.00% 01/01/2026 4.10%
Anaheim Public Financing Authority 0.00% 09/01/2017 4.08%
City of Palo Alto CA 5.00% 08/01/2040 4.02%
Roseville Redevelopment Agency 4.07% 09/01/2040 3.80%
Sweetwater Union High School District 0.00% 08/01/2025 3.57%
Claremont Mckenna College 5.00% 01/01/2019 3.24%
San Bernardino Community College District 4.00% 08/01/2030 3.10%
Alameda Corridor Transportation Authority 0.00% 10/01/2029 2.97%
San Francisco City & County Airport Comm-San Francisco International Airport 5.00% 05/01/2035 2.96%
City of Glendale CA Electric Revenue 5.00% 02/01/2018 2.84%
View All

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Fund are only available for purchase and sale at current market price on a stock exchange. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Investors should review and consider carefully the Fund’s investment objective, risks, charges and expenses.

The premium/discount is calculated as [(market price/NAV)-1].

Links to Morningstar Fact Sheet and CEF Connect: By clicking on the link from this page to the Morningstar fact sheet or CEF Connect, you will leave the Eaton Vance website. Eaton Vance is not responsible for the content of any such third-party website. See “Terms and Conditions” below.


Insights & Analysis

Commentary

No commentary information is available.

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Fund are only available for purchase and sale at current market price on a stock exchange. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Investors should review and consider carefully the Fund’s investment objective, risks, charges and expenses.

The premium/discount is calculated as [(market price/NAV)-1].

Links to Morningstar Fact Sheet and CEF Connect: By clicking on the link from this page to the Morningstar fact sheet or CEF Connect, you will leave the Eaton Vance website. Eaton Vance is not responsible for the content of any such third-party website. See “Terms and Conditions” below.

Attribution

No attribution information is available.


Management

Biography
Craig R. Brandon, CFA

Craig R. Brandon, CFA

Vice President, Co-Director of Municipal Investments, Eaton Vance Management
Joined Eaton Vance 1998

Craig Brandon is a vice president of Eaton Vance Management, co-director of Municipal Investments and portfolio manager on Eaton Vance's municipal bond team.

Craig joined Eaton Vance in 1998 as a research analyst covering both high-yield and high–grade bonds. He was responsible for state and local government obligation, hospital, industrial development and tobacco-backed sectors. Prior to joining Eaton Vance, he was a senior budget and capital finance analyst with the New York State Assembly Ways and Means Committee responsible for negotiating that state's debt service budget and its various capital financing programs.

Craig earned a B.S. in finance in 1989 from Canisius College and an M.B.A. from the University of Pittsburgh in 1991. He is a CFA charterholder and is a member of the Boston Security Analysts Society, the CFA Institute, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts.

Education
  • B.A. Canisius College
  • M.B.A. Joseph M. Katz Graduate School of Business, University of Pittsburgh
Experience
  • Managed Fund since 2014

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2016

Annual Report

Download - Last updated: Nov 30, 2015

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

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Eaton Vance municipal funds' holdings in Puerto Rico debt

Download - Last updated: Jul 1, 2016

Information Concerning APS Auctions and Dividend Rates

Download - Last updated: Sep 27, 2016

Information Concerning IMTP Coverage and Leverage Percentages

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Auction Preferred Shares Market Update

Download - Last updated: Feb 26, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Sep 30, 2015

Morningstar CEV Fact Sheet

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Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Apr 24, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jan 21, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Nov 20, 2013

Eaton Vance Closed-End Funds Adopt Share Repurchase Programs

Download - Last updated: Nov 15, 2013

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jul 16, 2013

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Feb 4, 2013

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Sep 1, 2016

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Aug 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jul 31, 2016

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Jul 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Jun 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: May 31, 2016

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: May 2, 2016

Closed-End Fund Earnings Undistributed Net Income Information

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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Apr 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Mar 31, 2016

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Mar 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Feb 29, 2016

Eaton Vance Municipal Income Closed-End Funds Announce Final Results of Auction Preferred Shares Tender Offers and Issuance of New Preferred Shares

Download - Last updated: Feb 26, 2016

Eaton Vance Municipal Income Closed-End Funds Announce Expiration and Preliminary Results of Auction Preferred Shares Tender Offers

Download - Last updated: Feb 24, 2016

Eaton Vance Municipal Income Closed End Funds Announce Extension of Auction Preferred Shares Tender Offers

Download - Last updated: Feb 16, 2016

Eaton Vance Municipal Income Closed End Funds Announce Extension of Auction Preferred Shares Tender Offers

Download - Last updated: Feb 3, 2016

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Feb 1, 2016

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Jan 4, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Dec 31, 2015

Eaton Vance Municipal Income Closed-End Funds Announce Tender Offers for Outstanding Auction Preferred Shares

Download - Last updated: Dec 21, 2015

Eaton Vance Municipal Income Trust Annual Meeting of Shareholders

Download - Last updated: Dec 21, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Dec 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Nov 2, 2015

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Oct 31, 2015

Eaton Vance Municipal Income Closed-End Funds Announce Tender Offers for Outstanding Auction Preferred Shares

Download - Last updated: Oct 5, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Oct 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Sep 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Aug 3, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Jul 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Jun 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: May 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Download - Last updated: Apr 1, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Municipal Bond Funds

Download - Last updated: Mar 2, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Municipal Bond Funds

Download - Last updated: Feb 2, 2015

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jan 16, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Municipal Bond Funds

Download - Last updated: Jan 2, 2015

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Municipal Bond Funds

Download - Last updated: Dec 1, 2014

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Municipal Bond Funds

Download - Last updated: Nov 3, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Oct 20, 2014

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Municipal Bond Funds

Download - Last updated: Oct 1, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jul 30, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: May 1, 2013

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: May 31, 2016