Overview

Historical Returns (%) as of Sep 30, 2021

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: 4.75%.
 

Fund Facts as of Sep 30, 2021

Class A Inception 06/27/2007
Investment Objective Total return
Total Net Assets $58.5M
Minimum Investment $1000
Expense Ratio (Gross)2,3 1.50%
Expense Ratio (Net)2,3 1.01%
Adjusted Expense Ratio (Gross) 1.49%
Adjusted Expense Ratio (Net) 1.00%
CUSIP 277923710
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Eaton Vance Funds, if applicable none of which are paid to Eaton Vance.
 

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

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging or frontier countries, these risks may be more significant. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment 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. As interest rates rise, the value of certain income investments is likely to decline. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity. 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. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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, 2021

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: 4.75%.
 

Calendar Year Returns (%)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fund at NAV -0.12 7.62 -2.42 -0.51 -4.00 2.16 10.57 -2.67 6.09 9.32
Bloomberg Global Aggregate Bond Index 5.64 4.32 -2.60 0.59 -3.15 2.09 7.39 -1.20 6.84 9.20
Morningstar Multicurrency Category4 5.49 4.50 0.22 8.35 1.30 3.75 2.14 2.60 7.59 6.11
 

Fund Facts

Expense Ratio (Gross)2,3 1.50%
Expense Ratio (Net)2,3 1.01%
Class A Inception 06/27/2007
Adjusted Expense Ratio (Gross) 1.49%
Adjusted Expense Ratio (Net) 1.00%
Distribution Frequency Monthly
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Eaton Vance Funds, if applicable none of which are paid to Eaton Vance.

Yield Information as of Sep 30, 2021

Distribution Rate at NAV 3.86%
Subsidized SEC 30-day Yield5 2.13%
Unsubsidized SEC 30-day Yield 1.61%
 

NAV History

Date NAV NAV Change
Oct 15, 2021 $8.03 -$0.01
Oct 14, 2021 $8.04 $0.02
Oct 13, 2021 $8.02 $0.02
Oct 12, 2021 $8.00 -$0.02
Oct 11, 2021 $8.02 -$0.02
Oct 08, 2021 $8.04 $0.00
Oct 07, 2021 $8.04 $0.00
Oct 06, 2021 $8.04 -$0.02
Oct 05, 2021 $8.06 -$0.01
Oct 04, 2021 $8.07 $0.01
 

Distribution History6

Ex-Date Distribution Reinvest NAV
Sep 29, 2021 $0.02590 $8.04
Aug 30, 2021 $0.02980
Jul 29, 2021 $0.03330 $8.25
Jun 29, 2021 $0.03700 $8.26
May 27, 2021 $0.04110 $8.42
Apr 29, 2021 $0.04480 $8.43
Mar 30, 2021 $0.04490 $8.31
Feb 25, 2021 $0.04480 $8.59
Jan 28, 2021 $0.04480 $8.69
Dec 30, 2020 $0.04480 $8.78
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 History6

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. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging or frontier countries, these risks may be more significant. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment 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. As interest rates rise, the value of certain income investments is likely to decline. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity. 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. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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

Portfolio Statistics as of Jun 30, 2021

Average Coupon 3.71%
U.S. Duration 0.04 yrs.
Non-US Duration 3.50 yrs.
Number of Countries 32

Credit Quality (%)7 as of Jun 30, 2021

AAA 38.68
AA 4.36
A 14.29
BBB 13.96
BB 16.15
B 12.55
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the highest 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.
 

Foreign Currency Exposure (%)8 as of Jun 30, 2021

Euro 38.85%
Japan 12.74%
Serbia 7.64%
Indonesia 6.17%
Sweden 5.82%
Singapore 5.21%
China 5.17%
South Korea 4.54%
Australia 4.52%
Egypt 4.24%
View All

Interest-Rate Exposures by Country (contribution to interest-rate duration in years)9 as of Jun 30, 2021

China 0.48
Indonesia 0.46
Serbia 0.43
South Korea 0.32
New Zealand 0.29
Australia 0.27
Thailand 0.27
Mexico 0.19
South Africa 0.14
Philippines 0.14
View All

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

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging or frontier countries, these risks may be more significant. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment 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. As interest rates rise, the value of certain income investments is likely to decline. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity. 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. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in 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. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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

Kyle Lee, CFA

Kyle Lee, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2007

Biography

Kyle Lee is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance's emerging markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's emerging markets strategies. He is also responsible for the analysis of macroeconomics, politics and financial markets of Asia, Western Europe and the Dollar Bloc and the management of regional investments in various emerging markets portfolios. He began his career in the investment management industry with Eaton Vance in 2007

Kyle earned a B.A. from Wesleyan University and is a CFA charterholder.

Education
  • B.A. Wesleyan University

Experience
  • Managed Fund since 2019

 
Patrick Campbell, CFA

Patrick Campbell, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2008

Biography

Patrick Campbell is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance's emerging markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's emerging markets strategies. He is also responsible for the analysis of macroeconomics, politics and financial markets of Latin America and the management of regional investments in various emerging markets portfolios. He began his career in the investment management industry with Eaton Vance in 2008.

Patrick earned a B.A. from Boston College. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.A. Boston College

Experience
  • Managed Fund since 2021

 

Brian Shaw, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance in 2008

Biography

Brian Shaw is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's emerging markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's emerging markets strategies. He joined Eaton Vance in 2008.

Brian began his career in the investment management industry in 2007. Before joining Eaton Vance, he was affiliated with Graham Capital Management, LP.

Brian earned a BA from Vanderbilt University and an MBA from the University of Chicago. He is a member of the CFA Society Boston and is a CFA charterholder.

Education
  • B.A. Vanderbilt University
  • M.B.A University of Chicago

Experience
  • Managed Fund since 2021

 

Literature

Literature

Report of Organizational Actions Affecting Basis of Securities

Download Report of Organizational Actions Affecting Basis of Securities - Last updated: Oct 31, 2012

Annual Report

Download Annual Report - Last updated: Oct 31, 2020

Full Prospectus

Download Full Prospectus - Last updated: Mar 1, 2021

Global Bond Fund Holdings

Download Global Bond Fund Holdings - Last updated: Aug 31, 2021

Q1 Holdings

Download Q1 Holdings - Last updated: Jan 31, 2021

Q3 Holdings

Download Q3 Holdings - Last updated: Jul 31, 2021

Holdings - Form N-PORT

Download Holdings - Form N-PORT

SAI

Download SAI - Last updated: Mar 1, 2021

Semi-Annual Report

Download Semi-Annual Report - Last updated: Apr 30, 2021

Summary Prospectus

Download Summary Prospectus - Last updated: Mar 1, 2021