Overview

Investment Objectives

The Trust's investment objectives are high current income and to return $9.851 per share (the original net asset value) to holders of common shares on or about October 31, 20222 (“Termination Date”).
 

Historical Returns (%) as of Sep 30, 2019

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.
 

Fund Facts

Performance Inception 07/31/2017
CUSIP 27831H100

Expense Ratios (%)

as of Annual Report dated 06/30/2019
Management Fees 1.10
Other Expenses 0.15
Total Expenses (ex Interest and Fee Expense) 1.25
Interest and Fee Expense 2.12
Total Expenses 3.37
 

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

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 Sep 30, 2019

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 (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Fund at NAV -1.91
Market Price -2.10
 

Fund Facts

Performance Inception 07/31/2017
 

Distribution History3

Ex-Date Distribution Reinvest Price
Nov 08, 2019 $0.04500 $9.33
Oct 10, 2019 $0.04500 $9.29
Sep 12, 2019 $0.04600 $9.19
Aug 09, 2019 $0.04600 $9.30
Jul 10, 2019 $0.04600 $9.38
Jun 12, 2019 $0.04600 $9.49
May 10, 2019 $0.04600 $9.30
Apr 10, 2019 $0.04600 $9.36
Mar 08, 2019 $0.04600 $9.27
Feb 08, 2019 $0.04500 $9.26
View All
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Trust prospectus
 

Tax Character of Distributions

Ordinary Dividends    
Non-Qualified Qualified Total Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2018 $0.51 $0.00 $0.51 $0.00 $0.00 $0.51
2017 $0.20 $0.00 $0.20 $0.00 $0.00 $0.20
Distributions (%)
2018 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2017 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%

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

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 Holdings4,5 as of Sep 30, 2019

Holding Coupon Rate Maturity Date % of Net Assets
Reynolds Consumer Products 4.79% 02/05/2023 1.99%
United States Dollar 1.75%
Change Healthcare 4.54% 03/01/2024 1.40%
Virgin Media 4.53% 01/15/2026 1.39%
Golden Nugget, Inc (old Landry's) 4.81% 10/04/2023 1.39%
Four Seasons Hotels Limited 4.04% 11/30/2023 1.32%
Live Nation Entertainment, Inc. 3.69% 10/31/2023 1.32%
PPD 4.54% 08/18/2022 1.32%
Infor Lawson 4.85% 02/01/2022 1.32%
TransDigm, Inc. 4.54% 06/09/2023 1.31%
View All

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

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.


Management

Craig P. Russ

Craig P. Russ

Vice President, Eaton Vance Management
Joined Eaton Vance 1997

Biography

Craig Russ is a vice president of Eaton Vance Management, co-director of bank loans and portfolio manager on Eaton Vance's floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. He joined Eaton Vance in 1997.

Craig began his career in the investment management industry in 1985. Before joining Eaton Vance, he worked in commercial lending at State Street Bank.

Craig earned a B.A., cum laude, from Middlebury College and studied at the London School of Economics. He previously served as chairman of the board of directors of the Loan Syndications and Trading Association (LSTA). His commentary has appeared in Bloomberg, Grant's Interest Rate Observer and The Wall Street Journal.

Education
  • B.A. Middlebury College

Experience
  • Managed Fund since inception

 

Andrew Sveen, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1999

Biography

Andrew Sveen is a vice president of Eaton Vance Management, co-director of bank loans and portfolio manager on Eaton Vance's floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. He joined Eaton Vance in 1999.

Andrew began his career in the investment management industry in 1995. Previously at Eaton Vance, he was director of loan trading and capital markets. Before joining Eaton Vance, he worked as a corporate lending officer at State Street Bank.

Andrew earned a B.A. from Dartmouth College and an MBA from the William E. Simon School at the University of Rochester. He is a CFA charterholder. Andrew serves as a member of the board of directors of the Loan Syndications and Trading Association (LSTA). His commentary has appeared in Bloomberg, Financial Times and Reuters.

Education
  • B.A. Dartmouth College
  • M.B.A. University of Rochester

Experience
  • Managed Fund since 2019

 
Catherine McDermott

Catherine McDermott

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Biography

Catherine McDermott is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's floating-rate loan team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. Her focus is primarily on the automotive industry in addition to casinos, general industrial, theaters, packaging and consumer products. She joined Eaton Vance in 2000.

Catherine began her career in the investment management industry in 1988. Before joining Eaton Vance, she was a principal at Cypress Tree Investment Management and a vice president of corporate underwriting and research at Financial Security Assurance Inc.

Catherine earned a B.A., summa cum laude, from Boston College.

Education
  • B.A. Boston College

Experience
  • Managed Fund since 2019

 

William Holt, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2004

Biography

William Holt is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. He also focuses on coverage of the financials, technology and software sectors. He began his career in the investment management industry in 2004 with Eaton Vance.

Will earned a B.A. from Brown University. He is a CFA charterholder.

Education
  • B.A. Brown University

Experience
  • Managed Fund since 2019

 

Daniel P. McElaney, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2004

Biography

Daniel McElaney is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. He also focuses on coverage of the chemicals, business services, building materials and industrial equipment sectors. He joined Eaton Vance in 2004.

Daniel began his career in the investment management industry in 2002. Before joining Eaton Vance, he was affiliated with Investors Bank & Trust.

Daniel earned a B.S. from Babson College. He is a member of the CFA Society of Boston and is a CFA charterholder.

Education
  • B.S. Babson College

Experience
  • Managed Fund since 2019

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2019

Annual Report

Download - Last updated: Jun 30, 2019

Holdings-1st or 3rd fiscal quarters-www.sec.gov (beginning 3/31/2019)

Download

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

Download

UNII Report

Download - Last updated: Sep 30, 2019

UNII Report

Download - Last updated: Aug 31, 2019

UNII Report

Download - Last updated: Jul 31, 2019

UNII Report

Download - Last updated: Jun 30, 2019

UNII Report

Download - Last updated: May 31, 2019

UNII Report

Download - Last updated: Apr 30, 2019

UNII Report

Download - Last updated: Mar 31, 2019

UNII Report

Download - Last updated: Feb 28, 2019

UNII Report

Download - Last updated: Jan 31, 2019

UNII Report

Download - Last updated: Dec 31, 2018

UNII Report

Download - Last updated: Nov 30, 2018

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

Download - Last updated: Nov 1, 2019

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

Download - Last updated: Oct 1, 2019

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

Download - Last updated: Sep 3, 2019

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

Download - Last updated: Aug 1, 2019

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

Download - Last updated: Jul 1, 2019

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

Download - Last updated: Jun 3, 2019

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

Download - Last updated: May 1, 2019

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

Download - Last updated: Apr 1, 2019

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

Download - Last updated: Mar 1, 2019

Eaton Vance Management Announces Portfolio Management Teams for Certain Closed-End Funds

Download - Last updated: Feb 25, 2019

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

Download - Last updated: Feb 1, 2019

Eaton Vance Declares Early Monthly Distributions and Special Distributions for Certain Eaton Vance Closed-End Funds

Download - Last updated: Dec 18, 2018

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

Download - Last updated: Dec 3, 2018

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

Download - Last updated: Nov 1, 2018

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

Download - Last updated: Oct 1, 2018

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

Download - Last updated: Sep 4, 2018

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

Download - Last updated: Aug 1, 2018

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

Download - Last updated: Jul 2, 2018

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

Download - Last updated: Jun 1, 2018

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

Download - Last updated: May 1, 2018

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

Download - Last updated: Apr 2, 2018

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

Download - Last updated: Mar 1, 2018

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

Download - Last updated: Feb 1, 2018

Eaton Vance Declares Early Monthly Distributions for Certain Eaton Vance Closed-End Funds

Download - Last updated: Dec 18, 2017

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

Download - Last updated: Dec 1, 2017

Section 16 Filings - www.sec.gov

Download - Last updated: Jul 26, 2017

Semi-Annual Report

Download - Last updated: Dec 31, 2018