Overview

Historical Returns (%) as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
11/30/2017
Fund at NAV 0.17 1.63 5.87 8.02 6.02 5.80 5.91
Market Price -1.10 -1.46 0.21 2.56 6.50 3.45 6.17
09/30/2017
Fund at NAV 0.66 1.46 4.86 8.68 5.96 5.89 5.69
Market Price 0.06 -2.08 1.76 8.95 6.60 3.63 5.56
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 Dec 11, 2017
Distribution Rate at NAV 5.41%
Distribution Rate at Market Price 5.81%

Fund Facts as of Nov 30, 2017

Performance Inception 06/29/2004
Investment Objective High current income
CUSIP 278279104
 

Expense Ratios (%)2

as of Annual Report dated 05/31/2017
Management Fees 1.15
Other Expenses 0.17
Total Expenses (ex Interest and Fee Expense) 1.32
Interest and Fee Expense 1.16
Total Expenses 2.48

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.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.

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. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer’s obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. 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. Borrowing to increase investments (leverage) will exaggerate the effect of any increase or decrease in the value of Fund investments. Investments rated below investment grade (typically referred to as “junk”) are generally subject to greater price volatility and illiquidity than higher-rated investments. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Changes in the value of investments entered for hedging purposes may not match those of the position being hedged. The Fund may engage in other investment practices that may involve additional risks.


Performance

Historical Returns (%) as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
11/30/2017
Fund at NAV 0.17 1.63 5.87 8.02 6.02 5.80 5.91
Market Price -1.10 -1.46 0.21 2.56 6.50 3.45 6.17
09/30/2017
Fund at NAV 0.66 1.46 4.86 8.68 5.96 5.89 5.69
Market Price 0.06 -2.08 1.76 8.95 6.60 3.63 5.56
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 (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 0.08 -49.12 94.76 16.03 3.80 13.29 7.60 1.04 -2.59 16.93
Market Price -7.69 -43.30 91.90 20.88 -4.86 27.85 -4.54 -3.41 -2.74 25.71
 

Fund Facts

Performance Inception 06/29/2004

Distribution Rates1

as of Dec 11, 2017
Distribution Rate at NAV 5.41%
Distribution Rate at Market Price 5.81%
 

Distribution History3

Ex-Date Distribution Reinvest Price
Oct 23, 2017 $0.06700 $14.45
Sep 21, 2017 $0.06900 $14.66
Aug 22, 2017 $0.06900 $14.64
Jul 20, 2017 $0.06900 $15.24
Jun 21, 2017 $0.07000 $15.18
May 22, 2017 $0.06900 $15.19
Apr 19, 2017 $0.06600 $15.14
Mar 22, 2017 $0.06700 $15.14
Feb 16, 2017 $0.07100 $15.38
Dec 27, 2016 $0.07300 $15.19
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

Ordinary Dividends    
Non-Qualified Qualified Total Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2016 $0.86 $0.04 $0.90 $0.00 $0.00 $0.90
2015 $0.89 $0.02 $0.91 $0.00 $0.00 $0.91
2014 $0.88 $0.00 $0.88 $0.00 $0.00 $0.88
2013 $1.00 $0.01 $1.01 $0.00 $0.00 $1.01
2012 $1.04 $0.00 $1.04 $0.00 $0.00 $1.04
2011 $1.02 $0.00 $1.02 $0.00 $0.00 $1.02
2010 $1.02 $0.00 $1.02 $0.00 $0.00 $1.02
2009 $0.81 $0.00 $0.81 $0.00 $0.12 $0.93
2008 $1.21 $0.00 $1.21 $0.00 $0.00 $1.21
2007 $1.56 $0.00 $1.56 $0.00 $0.00 $1.56
2006 $1.56 $0.00 $1.56 $0.00 $0.00 $1.56
2005 $1.26 $0.00 $1.26 $0.00 $0.00 $1.26
Distributions (%)
2016 96.19% 3.81% 100.00% 0.00% 0.00% 100.00%
2015 98.43% 1.57% 100.00% 0.00% 0.00% 100.00%
2014 99.36% 0.64% 100.00% 0.00% 0.00% 100.00%
2013 99.50% 0.50% 100.00% 0.00% 0.00% 100.00%
2012 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2011 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2010 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2009 87.11% 0.00% 87.11% 0.00% 12.89% 100.00%
2008 99.66% 0.00% 99.66% 0.00% 0.34% 100.00%
2007 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2006 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2005 100.00% 0.00% 100.00% 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. Non-qualified ordinary dividends are subject to federal income tax at ordinary rates. Qualified dividends and capital gains distributions are taxable at long-term capital gains 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.

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. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer’s obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. 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. Borrowing to increase investments (leverage) will exaggerate the effect of any increase or decrease in the value of Fund investments. Investments rated below investment grade (typically referred to as “junk”) are generally subject to greater price volatility and illiquidity than higher-rated investments. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Changes in the value of investments entered for hedging purposes may not match those of the position being hedged. The Fund may engage in other investment practices that may involve additional risks.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.


Portfolio

Fund Holdings4,5,6 as of Oct 31, 2017

Holding Coupon Rate Maturity Date % of Net Assets
Univision Communications Inc. 3.99% 03/15/2024 1.56%
Valeant Pharmaceuticals International, Inc. 5.99% 04/01/2022 1.33%
EV Cash Reserves Fund LLC 0.00% 1.27%
Envision Healthcare (EMS) 4.25% 12/01/2023 1.26%
MEG Energy Corp. 4.83% 12/31/2023 1.23%
Virgin Media 3.99% 01/31/2025 1.20%
Infor Lawson 4.08% 02/01/2022 1.17%
Change Healthcare 3.99% 03/01/2024 1.16%
PPD 4.04% 08/18/2022 1.15%
JBS USA, LLC 3.74% 10/30/2022 1.10%
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 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.

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. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer’s obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. 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. Borrowing to increase investments (leverage) will exaggerate the effect of any increase or decrease in the value of Fund investments. Investments rated below investment grade (typically referred to as “junk”) are generally subject to greater price volatility and illiquidity than higher-rated investments. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Changes in the value of investments entered for hedging purposes may not match those of the position being hedged. The Fund may engage in other investment practices that may involve additional risks.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.


Management

Scott H. Page, CFA

Scott H. Page, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1989

Biography

Scott Page 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 1989.

Scott began his career in the investment management industry in 1981. Before joining Eaton Vance, he was affiliated with the Dartmouth College Investment Office, as well as Citicorp and Chase Manhattan Bank in corporate finance/lending and credit review.

Scott earned a B.A. from Williams College and an MBA from the Amos Tuck School at Dartmouth College. He has served as a member of the board of directors of the LSTA (Loan Syndications and Trading Association). He is a CFA charterholder.

Scott co-authored "An Overview of the Loan Market" in the Handbook of Loan Syndications and Trading (2007). His commentary has appeared in Bloomberg, Business Week, Dow Jones Investment Advisor, Forbes, Investor's Business Daily, SmartMoney, Kiplinger's, USA Today and The Wall Street Journal, and he has been featured on CNBC.

Education
  • B.A. Williams College
  • M.B.A. Amos Tuck School of Business Administration, Dartmouth College

Experience
  • Managed Fund since inception

 
Ralph Hinckley, CFA

Ralph Hinckley, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2003

Biography

Ralph Hinckley is a vice president of Eaton Vance Management and portfolio manager and analyst 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 2003.

Ralph began his career in the investment management industry in 1997. Before joining Eaton Vance, he was a vice president in the communications lending division of Citizens Bank and its credit training program and a lending officer at State Street Bank.

Ralph earned a B.A. from Bates College and an MBA, with honors, from Boston University Graduate School of Management. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.A. Bates College
  • M.B.A. Boston University

Experience
  • Managed Fund since 2008

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2017

Commentary

Download - Last updated: Sep 30, 2017

Annual Report

Download - Last updated: May 31, 2017

Floating-Rate Loan Chart Book

Download - Last updated: Sep 30, 2017

Prospectus

Download - Last updated: Sep 26, 2017

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

Download

Auction Preferred Shares Market Update

Download - Last updated: Oct 5, 2017

Morningstar EFT Fact Sheet

Download

Eaton Vance Closed-End Funds Adopt Share Repurchase Programs

Download - Last updated: Nov 15, 2013

Moody's Downgrades

Download - Last updated: Jul 17, 2012

Eaton Vance Floating-Rate Income Trust

Download - Last updated: Oct 18, 2010

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

Download - Last updated: Dec 1, 2017

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

Download - Last updated: Nov 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Oct 31, 2017

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

Download - Last updated: Oct 2, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Sep 30, 2017

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

Download - Last updated: Sep 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Aug 31, 2017

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

Download - Last updated: Aug 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jul 31, 2017

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

Download - Last updated: Jul 3, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jun 30, 2017

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

Download - Last updated: Jun 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: May 31, 2017

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

Download - Last updated: May 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Apr 30, 2017

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

Download - Last updated: Apr 3, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Mar 31, 2017

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

Download - Last updated: Mar 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Feb 28, 2017

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

Download - Last updated: Feb 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jan 31, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Dec 31, 2016

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

Download - Last updated: Dec 19, 2016

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

Download - Last updated: Dec 1, 2016

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

Download - Last updated: Nov 1, 2016

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

Download - Last updated: Oct 3, 2016

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

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

Download - Last updated: Jul 1, 2016

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

Download - Last updated: Jun 1, 2016

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

Download - Last updated: May 2, 2016

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

Download - Last updated: Apr 1, 2016

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

Download - Last updated: Mar 1, 2016

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

Download - Last updated: Feb 1, 2016

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

Download - Last updated: Dec 21, 2015

Eaton Vance Floating-Rate Income Trust, Eaton Vance Senior Floating-Rate Trust & Eaton Vance Senior Income Trust Approve Change in Investment Policies

Download - Last updated: May 20, 2011

SAI

Download - Last updated: Sep 26, 2017

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: Nov 30, 2016