Overview

Historical Returns (%)as of Jun 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
Fund at NAV 0.66 2.62 4.03 2.46 2.13 2.81 2.89
Fund w/Max Sales Charge -0.34 1.62 3.03 1.46 2.13 2.81 2.89
Bloomberg Barclays U.S. Credit Index1 0.26 2.35 3.68 1.84 3.40 3.67 5.61
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 Factsas of Jun 30, 2017

Class C Inception 07/31/2000
Performance Inception 10/12/1982
Investment Objective Maximize income, to the extent consistent with preservation of capital
Total Net Assets $525.4M
Minimum Investment $2000
Expense Ratio (Gross)2 1.79%
Expense Ratio (Net)2 1.79%
CUSIP 131582744

Top 10 Holdings (%)3,4as of Jun 30, 2017

United States Treasury Note/Bond
Bank of America Corp
Citigroup Inc
Morgan Stanley
CKE Restaurant Holdings Inc
AT&T Inc
Motel 6 Trust 2015-MTL
Ford Motor Credit Co LLC
Wendys Funding LLC 2015-1
FRS I LLC
Total 18.04

Portfolio Management

Vishal Khanduja, CFA Managed Fund since 2013
Brian S. Ellis, CFA Managed Fund since 2015

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance.


Performance

Historical Returns (%)as of Jun 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
Fund at NAV 0.66 2.62 4.03 2.46 2.13 2.81 2.89
Fund w/Max Sales Charge -0.34 1.62 3.03 1.46 2.13 2.81 2.89
Bloomberg Barclays U.S. Credit Index1 0.26 2.35 3.68 1.84 3.40 3.67 5.61
Morningstar Corporate Bond Category5 0.27 2.24 3.68 2.99 3.21 3.94 5.50
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. Max Sales Charge: 1%.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 4.36 -12.57 15.51 5.69 1.97 7.75 -1.35 4.14 -1.91 4.79
Bloomberg Barclays U.S. Credit Index1 5.11 -3.08 16.04 8.47 8.35 9.37 -2.01 7.53 -0.77 5.63

Fund Facts

Expense Ratio (Gross)2 1.79%
Expense Ratio (Net)2 1.79%
Class C Inception 07/31/2000
Performance Inception 10/12/1982
Distribution Frequency Monthly

Yield Information6as of Jun 30, 2017

Distribution Rate at NAV 2.11%
Subsidized SEC 30-day Yield 1.89%
Unsubsidized SEC 30-day Yield 1.89%
Low Quality / Moderate Duration
Morningstar Fixed Income Style Box
The Morningstar Style Box™ reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the long stocks owned and the horizontal axis shows investment style (value, blend, or growth). For fixed-income funds, the vertical axis shows the credit quality of the long bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond's effective duration.

©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. Past performance is no guarantee of future results.

Morningstar Rating™as of Jun 30, 2017

Time Period Rating Funds in
Corporate Bond
Category
Overall ** 174
3 Years ** 174
5 Years ** 145
10 Years * 85
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
Jul 20, 2017 $16.60 $0.01
Jul 19, 2017 $16.59 $0.00
Jul 18, 2017 $16.59 $0.04
Jul 17, 2017 $16.55 $0.03
Jul 14, 2017 $16.52 $0.02
Jul 13, 2017 $16.50 -$0.02
Jul 12, 2017 $16.52 $0.04
Jul 11, 2017 $16.48 $0.01
Jul 10, 2017 $16.47 $0.02
Jul 07, 2017 $16.45 -$0.01

Distribution History7

Ex-Date Distribution Reinvest NAV
Jun 28, 2017 $0.02898 $16.55
May 25, 2017 $0.03091 $16.38
Apr 27, 2017 $0.03346 $16.28
Mar 29, 2017 $0.03271 $16.20
Feb 23, 2017 $0.03479 $16.17
Jan 26, 2017 $0.03202 $16.06
Dec 27, 2016 $0.03280 $15.95
Nov 29, 2016 $0.03454 $16.08
Oct 27, 2016 $0.03217 $16.50
Sep 28, 2016 $0.03362 $16.72
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 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: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance.


Portfolio

Asset Mix (%)4as of Jun 30, 2017

Investment Grade Corporate Bonds 60.99
Asset Backed Securities 16.68
U.S. Commercial Mortgage Backed Securities 6.85
High Yield Corporate Bonds 6.18
U.S. Treasuries 5.02
Cash 2.60
Collateralized Loan Obligation 1.15
Government Related Bonds 0.53
Total 100.00

Portfolio Statisticsas of Jun 30, 2017

Number of Holdings 232
Effective Duration 6.56 yrs.
Average Effective Maturity 10.00 yrs.

Credit Quality (%)8as of Jun 30, 2017

AAA 6.04
AA 3.21
A 32.49
BBB 43.31
BB 7.45
B 2.40
CCC or Lower 0.15
Not Rated 4.94
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.

Assets by Country (%)9as of Jun 30, 2017

United States 91.96
Canada 2.32
Cayman Islands 1.56
Mexico 1.27
Other 2.89

Fund Holdings4,10as of May 31, 2017

Holding Coupon Rate Maturity Date % of Net Assets
State Street Bank Eurodollar Time Deposit 0.09% 05/31/2017 4.40%
United States Treasury Note/Bond 3.00% 02/15/2047 4.14%
Bank of America Corp 3.82% 01/20/2028 2.12%
Citigroup Inc 3.89% 01/10/2028 1.95%
Morgan Stanley 3.13% 07/27/2026 1.71%
CKE Restaurant Holdings Inc 4.47% 03/20/2043 1.65%
AT&T Inc 4.13% 02/17/2026 1.54%
Wells Fargo & Co 3.07% 01/24/2023 1.53%
Enterprise Products Operating LLC 7.03% 01/15/2068 1.51%
Motel 6 Trust 2015-MTL 5.28% 02/05/2030 1.34%
View All

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance.


Insights & Analysis

Commentary

Commentary available in Fund Literature tab.

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance.

Attribution

Attribution available in Fund Literature tab.

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance.


Management

Biography
Vishal Khanduja, CFA

Vishal Khanduja, CFA

Vice President, Calvert Research and Management
Joined Calvert Research and Management 2013

Vishal Khanduja is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016.

Vishal began his career in the investment management industry in 2005. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, 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 Management and associate director of fixed-income analytics at Galliard Capital.

Vishal earned a bachelor of engineering from Veermata Jijabai Technological Institute in Mumbai, India and an MBA from the Tippie School of Management at the University of Iowa. He is a member of the CFA Institute, the CFA Society of Washington, D.C. and the Global Association of Risk Professionals. 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 2013

 
Biography
Brian S. Ellis, CFA

Brian S. Ellis, CFA

Vice President, Calvert Research and Management
Joined Calvert Research and Management 2015

Brian Ellis is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016.

Brian began his career in the investment management industry in 2006. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a portfolio manager of fixed-income strategies for Calvert Investments. Previously, he was a software engineer and analyst at Legg Mason Capital Management (now ClearBridge Investments).

Brian earned a B.S. in finance from Salisbury University. He is a member of the CFA Institute and the CFA Society of Washington, D.C. He is a CFA charterholder.

Education
  • B.S., Salisbury University

Experience
  • Managed Fund since 2015

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2017

Responsible Allocation Models Overview

Download - Last updated: Jun 30, 2017

Commentary

Download - Last updated: Mar 31, 2017

Attribution

Download - Last updated: Mar 31, 2017

Annual Report

Download - Last updated: Sep 30, 2016

Full Prospectus

Download - Last updated: Jul 13, 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: Apr 10, 2017

XBRL

Download - Last updated: Feb 1, 2017