Overview

Growth of $10,000

Since Fund inception ended 09/30/2016

  • Class A at NAV

Historical Returns (%)as of Sep 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
11/30/2016
Fund at NAV 3.23 0.21 4.09 2.60 5.07 12.35 8.97
Fund w/Max Sales Charge -2.70 -5.52 -1.88 -3.33 3.02 11.03 7.85
Russell 1000 Value Index 5.71 3.86 14.48 12.02 8.59 14.67 11.48
09/30/2016
Fund at NAV -1.07 1.24 2.76 9.84 7.45 14.27 9.00
Fund w/Max Sales Charge -6.73 -4.61 -3.13 3.53 5.36 12.92 7.85
Russell 1000 Value Index -0.21 3.48 10.00 16.20 9.70 16.13 11.05
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: 5.75%.

Fund Factsas of Oct 31, 2016

Class A Inception 03/07/2011
Investment Objective Total return
Total Net Assets $61.1M
Minimum Investment $1000
Expense Ratio (Gross)1 1.30%
Expense Ratio (Net)1,2 1.05%
CUSIP 277902532

Top 10 Holdings (%)3,4as of Sep 30, 2016

Johnson & Johnson
Wells Fargo & Co
JPMorgan Chase & Co
Reynolds American Inc
eBay Inc
General Electric Co
Chevron Corp
Charles Schwab Corp
Visa Inc
Chubb Ltd
Total 43.41

Portfolio Management

John D. Crowley Managed Fund since inception
Edward J. Perkin, CFA Managed Fund since 2014

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

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
10/31/2016
Fund at NAV -1.88 -2.72 0.83 -0.11 5.46 11.67 8.49
Fund w/Max Sales Charge -7.55 -8.29 -4.95 -5.84 3.41 10.34 7.36
Russell 1000 Value Index -1.55 -1.00 8.29 6.37 7.58 13.29 10.57
Morningstar™ Large Value Category5 -1.48 -1.05 6.23 3.72 5.78 11.34
09/30/2016
Fund at NAV -1.07 1.24 2.76 9.84 7.45 14.27 9.00
Fund w/Max Sales Charge -6.73 -4.61 -3.13 3.53 5.36 12.92 7.85
Russell 1000 Value Index -0.21 3.48 10.00 16.20 9.70 16.13 11.05
Morningstar™ Large Value Category5 -0.19 3.70 7.84 13.08 7.70 14.02
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: 5.75%.

Calendar Year Returns (%)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fund at NAV 17.62 32.17 9.94 -0.51
Russell 1000 Value Index 22.25 -0.17 -36.85 19.69 15.51 0.39 17.51 32.53 13.45 -3.83

Fund Facts

Expense Ratio (Gross)1 1.30%
Expense Ratio (Net)1,2 1.05%
Class A Inception 03/07/2011
Distribution Frequency Annually

Risk Measures (3 Year)6as of Nov 30, 2016

Alpha (%) -2.27
Beta 0.87
R-Squared (%) 89.86
Standard Deviation (%) 10.08
Sharpe Ratio 0.49

Morningstar™ Ratingsas of Oct 31, 2016

Time Period Rating Rating (Load Waived) Funds in
Large Value
Category
Overall ** *** 1184
3 Years ** *** 1184
5 Years ** *** 1040
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2016 Morningstar, Inc. 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 is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Dec 02, 2016 $14.09 $0.00
Dec 01, 2016 $14.09 $0.05
Nov 30, 2016 $14.04 $0.04
Nov 29, 2016 $14.00 $0.02
Nov 28, 2016 $13.98 -$0.12
Nov 25, 2016 $14.10 $0.05
Nov 23, 2016 $14.05 $0.00
Nov 22, 2016 $14.05 $0.03
Nov 21, 2016 $14.02 $0.08
Nov 18, 2016 $13.94 -$0.02

Distribution History7

Ex-Date Distribution Reinvest NAV
Jun 15, 2016 $0.00160 $13.46
Dec 10, 2015 $0.17080 $13.40
May 21, 2015 $0.01580 $14.26
Dec 11, 2014 $0.03950 $13.89
Sep 09, 2014 $0.02850 $14.79
Dec 12, 2013 $0.06790 $13.18
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
May 21, 2015 $0.15420 $0.20160 $14.26
Dec 11, 2014 $0.18100 $0.57780 $13.89
Sep 09, 2014 $0.03530 $0.06430 $14.79
Dec 12, 2013 $0.03140 $0.23870 $13.18
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 

Fund performance is sensitive to stock market volatility. 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. 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 (%)4,8as of Sep 30, 2016

U.S. Common Stocks 97.20
Foreign Common Stocks 2.58
Cash 0.22
Total 100.00

Portfolio Statisticsas of Sep 30, 2016

Average Market Cap $107.8B
Price/Earnings Ratio 17.56
Number of Holdings 33
Price/Book Ratio 2.34

GICS Sector Breakdown (%)4as of Sep 30, 2016

Sector Fund Russell 1000 Value Index
Consumer Discretionary 3.59 4.88
Consumer Staples 9.86 8.86
Energy 12.98 13.46
Financials 25.78 23.42
Health Care 14.33 11.48
Industrials 9.94 9.48
Information Technology 8.42 10.04
Materials 2.92 2.86
Real Estate 1.50 5.11
Telecom Services 3.79 3.91
Utilities 6.66 6.49
Cash 0.22 0.00

Assets by Country (%)4as of Sep 30, 2016

United States 97.20
Switzerland 2.58
Cash & Other Assets 0.22
Total 100.00

Fund Holdings (%)4,9as of Oct 31, 2016

Holding % of Net Assets
Wells Fargo & Co 4.81%
JPMorgan Chase & Co 4.80%
Johnson & Johnson 4.66%
Chevron Corp 4.31%
EV Cash Reserves Fund LLC 4.28%
Charles Schwab Corp 4.24%
Chubb Ltd 3.94%
Visa Inc 3.77%
NextEra Energy Inc 3.75%
General Electric Co 3.63%
View All

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

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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.

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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.

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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
John D. Crowley

John D. Crowley

Vice President, Eaton Vance Management
Joined Eaton Vance 1998

John Crowley is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s value team. In addition, he serves as lead portfolio manager of Eaton Vance’s focused value strategy. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s value equity strategies. He is a member of the firm’s Equity Strategy Committee. He began his career in the investment management industry with Eaton Vance in 1998.

John earned a B.A. and an M.A. from The Catholic University of America and an MBA from Babson College. He is a member of the CFA Institute and the Boston Security Analysts Society.

Education
  • B.A.,M.A. Catholic University of America
  • M.B.A. F.W. Olin Graduate School of Business, Babson College

Experience
  • Managed Fund since inception

Biography
Edward J. Perkin, CFA

Edward J. Perkin, CFA

Vice President, Chief Equity Investment Officer
Eaton Vance Management
Joined Eaton Vance 2014

Eddie Perkin is a vice president of Eaton Vance Management, chief equity investment officer and portfolio manager. Additionally, he serves as lead portfolio manager of Eaton Vance’s large-cap value strategy. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s large-cap value equity portfolios. He is head of the firm’s Equity Strategy Committee. He is a member of the firm’s Management Committee. He joined Eaton Vance in April 2014.

Eddie began his career in the financial services industry in 1993. Before joining Eaton Vance, he served as chief investment officer (international and emerging-market equity) as well as managing director/portfolio manager (Europe, EAFE and Global) at Goldman Sachs Asset Management (GSAM) in London. Before relocating to London in 2008, Eddie was a portfolio manager and analyst on GSAM’s U.S. value equity team in New York. Eddie was previously associated with FISERV and American Retirement Insurance Services.

Eddie earned a B.A. from the University of California, Santa Barbara, and an MBA from Columbia Business School. He is a CFA charterholder and is a member of the board of directors of Junior Achievement of Northern New England.

Education
  • B.A. University of California, Santa Barbara
  • M.B.A. Columbia University

Experience
  • Managed Fund since 2014


Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2016

Annual Report

Download - Last updated: Feb 29, 2016

Full Prospectus

Download - Last updated: Jul 1, 2016

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

Download

SAI

Download - Last updated: Jul 1, 2016

Semi-Annual Report

Download - Last updated: Aug 31, 2016

Summary Prospectus

Download - Last updated: Jul 1, 2016

XBRL

Download - Last updated: Jul 13, 2016