Overview

Growth of $10,000

10-year period ended 09/30/2017

  • Class A at NAV

Historical Returns (%)as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
10/31/2017
Fund at NAV 0.24 0.61 3.96 1.69 2.26 2.19 4.25
Bloomberg Barclays U.S. Aggregate Bond Index1 0.06 0.47 3.20 0.90 2.40 2.03 4.18
09/30/2017
Fund at NAV -0.47 0.91 3.71 0.56 2.51 2.20 4.27
Bloomberg Barclays U.S. Aggregate Bond Index1 -0.48 0.85 3.14 0.07 2.71 2.06 4.27
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. Total return prior to the commencement of Class I Shares reflects returns of the Investment Grade Income Portfolio into which it invests. Prior returns are adjusted to reflect any applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.

Fund Factsas of Oct 31, 2017

Class I Inception 03/21/2007
Performance Inception 03/07/2000
Investment Objective Current income
Total Net Assets $146.6M
Total Net Assets of Portfolio2 $463.2M
Minimum Investment $250000
Expense Ratio (Gross)3 0.61%
Expense Ratio (Net)3,4 0.49%
CUSIP 277905618

Top 10 Holdings (%)5,6as of Sep 30, 2017

United States Treasury Note/Bond
United States Treasury Note/Bond
United States Treasury Note/Bond
Bank of America Corp
Morgan Stanley
Prosper Marketplace Issuance Trust Series 2017-1
Citigroup Inc
Ally Financial Inc
Dell International LLC / EMC Corp
United States Treasury Note/Bond
Total 16.46

Portfolio Management

Vishal Khanduja, CFA Managed Fund since 2017
Brian S. Ellis, CFA Managed Fund since 2017

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

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. Mortgage-backed securities 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. While certain U.S. government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
10/31/2017
Fund at NAV 0.24 0.61 3.96 1.69 2.26 2.19 4.25
Bloomberg Barclays U.S. Aggregate Bond Index1 0.06 0.47 3.20 0.90 2.40 2.03 4.18
Morningstar Intermediate-Term Bond Category7 0.06 0.45 3.47 1.52 2.28 2.07 4.20
09/30/2017
Fund at NAV -0.47 0.91 3.71 0.56 2.51 2.20 4.27
Bloomberg Barclays U.S. Aggregate Bond Index1 -0.48 0.85 3.14 0.07 2.71 2.06 4.27
Morningstar Intermediate-Term Bond Category7 -0.37 0.88 3.40 0.83 2.51 2.12 4.26
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. Total return prior to the commencement of Class I Shares reflects returns of the Investment Grade Income Portfolio into which it invests. Prior returns are adjusted to reflect any applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 5.47 4.59 5.85 7.39 7.22 5.12 -1.04 5.27 0.04 2.73
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

Fund Facts

Expense Ratio (Gross)3 0.61%
Expense Ratio (Net)3,4 0.49%
Class I Inception 03/21/2007
Performance Inception 03/07/2000
Distribution Frequency Monthly

Yield Information8as of Oct 31, 2017

Distribution Rate at NAV 2.83%
SEC 30-day Yield 2.49%

Morningstar Rating™as of Oct 31, 2017

Time Period Rating Funds in
Intermediate-Term Bond
Category
Overall *** 854
3 Years *** 854
5 Years *** 772
10 Years *** 548
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
Nov 21, 2017 $9.81 $0.00
Nov 20, 2017 $9.81 -$0.01
Nov 17, 2017 $9.82 $0.02
Nov 16, 2017 $9.80 -$0.02
Nov 15, 2017 $9.82 $0.02
Nov 14, 2017 $9.80 $0.01
Nov 13, 2017 $9.79 $0.00
Nov 10, 2017 $9.79 -$0.04
Nov 09, 2017 $9.83 -$0.01
Nov 08, 2017 $9.84 -$0.01

Distribution History9

Ex-Date Distribution Reinvest NAV
Oct 31, 2017 $0.02363 $9.83
Sep 29, 2017 $0.02359 $9.83
Aug 31, 2017 $0.02329 $9.90
Jul 31, 2017 $0.02237 $9.84
Jun 30, 2017 $0.02291 $9.81
May 31, 2017 $0.02285 $9.83
Apr 28, 2017 $0.02306 $9.77
Mar 31, 2017 $0.02321 $9.71
Feb 28, 2017 $0.02300 $9.74
Jan 31, 2017 $0.02227 $9.69
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 15, 2015 $0.00440 $9.70
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 an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

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. Mortgage-backed securities 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. While certain U.S. government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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 Sep 30, 2017

Investment Grade Corporate Bonds 36.6
Mortgage Backed Securities 24.2
Asset Backed Securities 13.4
U.S. Treasuries 9.8
U.S. Commercial Mortgage Backed Securities 8.8
Other 5.6
Cash 1.6

Portfolio Statisticsas of Sep 30, 2017

Number of Holdings 335
Average Coupon 3.54%
Average Maturity 7.86 yrs.
Effective Duration 5.74 yrs.
Average Price $102.94

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

AAA 46.02
AA 1.90
A 22.41
BBB 24.07
BB 4.36
B 0.49
Not Rated 0.75
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 Sep 30, 2017

Less Than 1 Year 9.55
1 To 3 Years 15.24
3 To 5 Years 14.46
5 To 10 Years 39.29
10 To 20 Years 14.45
20 To 30 Years 6.26
More Than 30 Years 0.74
Total 100.00

Fund Holdings6,11as of Sep 30, 2017

Holding Coupon Rate Maturity Date % of Net Assets
United States Treasury Note/Bond 5.00% 05/15/2037 3.33%
United States Treasury Note/Bond 2.88% 11/15/2046 2.56%
United States Treasury Note/Bond 1.50% 05/15/2020 2.25%
Bank of America Corp 3.59% 07/21/2028 1.54%
Morgan Stanley 3.59% 07/22/2028 1.51%
Prosper Marketplace Issuance Trust Series 2017-1 2.56% 06/15/2023 1.34%
EV Cash Reserves Fund LLC 0.00% 1.12%
Citigroup Inc 3.67% 07/24/2028 1.03%
Ally Financial Inc 3.25% 11/05/2018 1.01%
Dell International LLC / EMC Corp 3.48% 06/01/2019 1.00%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

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. Mortgage-backed securities 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. While certain U.S. government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

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. Mortgage-backed securities 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. While certain U.S. government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

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. Mortgage-backed securities 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. While certain U.S. government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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
Vishal Khanduja, CFA

Vishal Khanduja, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2016

Vishal Khanduja is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's diversified fixed-income team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's diversified fixed-income strategies. He joined Eaton Vance in 2016.

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 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 2017

Other funds managed
 
Biography
Brian S. Ellis, CFA

Brian S. Ellis, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2016

Brian Ellis is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's diversified fixed-income team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's diversified fixed-income strategies. He joined Eaton Vance in 2016.

Brian began his career in the investment management industry in 2006. Before joining Eaton Vance, 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 2017

Other funds managed
 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2017

Annual Report

Download - Last updated: Dec 31, 2016

Full Prospectus

Download - Last updated: Jun 27, 2017

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

Download

SAI

Download - Last updated: May 1, 2017

Semi-Annual Report

Download - Last updated: Jun 30, 2017

Summary Prospectus

Download - Last updated: Jun 27, 2017

XBRL

Download - Last updated: May 17, 2017