Overview

Historical Returns (%) as of Sep 30, 2022

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: 1%.
 

Fund Facts as of Aug 31, 2022

Class C Inception 11/30/2005
Investment Objective Total return
Total Net Assets $232.3M
Minimum Investment $1000
Expense Ratio (Gross)4 1.92%
Expense Ratio (Net)4 1.92%
CUSIP 277923850

Top 10 Holdings (%)5,6 as of Jun 30, 2022

Alphabet Inc - CL C 3.15
Microsoft Corp 2.78
Apple Inc 1.70
Eli Lilly & Co 1.54
Nestle SA 1.53
EOG Resources Inc 1.49
Coca-Cola Co 1.39
Amazon.com Inc 1.19
Novo Nordisk A/S 1.19
ASML Holding NV 1.08
Total 17.05
 

Morningstar Rating™ as of Aug 31, 2022

Time Period Rating Funds in
Global Allocation
Category
Overall 405
3 Years 405
5 Years 350
10 Years 252
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. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2022 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.
 

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.

RISK CONSIDERATIONS 

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. 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. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. Investments rated below investment grade (sometimes referred to as "junk") are typically 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. 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, 2022

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: 1%.
 

Calendar Year Returns (%)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fund at NAV 10.62 21.73 2.20 2.28 2.67 15.34 -19.19 22.60 9.74 14.35
MSCI World Index2 15.83 26.68 4.94 -0.87 7.51 22.40 -8.71 27.67 15.90 21.82
65% MSCI World Index / 35% ICE BofA Developed Markets High Yield Ex-Subordinated Financial Index3 16.30 20.04 3.30 -2.48 10.17 17.87 -6.80 22.59 13.01 15.05
 

Fund Facts

Expense Ratio (Gross)4 1.92%
Expense Ratio (Net)4 1.92%
Class C Inception 11/30/2005
Distribution Frequency Monthly

Yield Information as of Aug 31, 2022

Distribution Rate at NAV 2.78%
Subsidized SEC 30-day Yield7 1.91%
Unsubsidized SEC 30-day Yield 1.86%
 

Risk Measures (3 Year)8 as of Sep 30, 2022

Alpha (%) -3.15
Beta 0.84
R-Squared (%) 96.02
Standard Deviation (%) 16.99
Sharpe Ratio 0.01
 

Morningstar Rating™ as of Aug 31, 2022

Time Period Rating Funds in
Global Allocation
Category
Overall 405
3 Years 405
5 Years 350
10 Years 252
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. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2022 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
Oct 05, 2022 $8.73 -$0.03
Oct 04, 2022 $8.76 $0.25
Oct 03, 2022 $8.51 $0.14
Sep 30, 2022 $8.37 -$0.04
Sep 29, 2022 $8.41 -$0.09
Sep 28, 2022 $8.50 $0.14
Sep 27, 2022 $8.36 -$0.03
Sep 26, 2022 $8.39 -$0.10
Sep 23, 2022 $8.49 -$0.16
Sep 22, 2022 $8.65 -$0.06
 

Distribution History9

Ex-Date Distribution Reinvest NAV
Sep 20, 2022 $0.02700 $8.80
Aug 19, 2022 $0.02100 $9.50
Jul 19, 2022 $0.02200 $9.11
Jun 22, 2022 $0.02000 $8.93
May 19, 2022 $0.02100 $9.32
Apr 19, 2022 $0.02100 $10.16
Mar 21, 2022 $0.02100 $10.34
Feb 22, 2022 $0.02000 $10.36
Jan 19, 2022 $0.02000 $10.84
Dec 21, 2021 $0.02000 $11.03
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 21, 2021 $0.13840 $11.03
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.

RISK CONSIDERATIONS 

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. 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. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. Investments rated below investment grade (sometimes referred to as "junk") are typically 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. 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

Asset Mix (%)6,10,11,12 as of Jun 30, 2022

Portfolio Statistics as of Jun 30, 2022

Average Market Cap $357.1B
Price/Earnings Ratio 15.51
Number of Holdings 585
Number of Equity Holdings 129
Price/Book Ratio 2.48
Average Coupon 5.57%
Average Maturity 11.06 yrs.
Average Duration 1.59 yrs.
Average Price $87.78
Active Share13 79.50%
 

GICS Sector Breakdown (%)14 as of Jun 30, 2022

Credit Quality (%)15 as of Jun 30, 2022

AAA 0.24
BBB 10.27
BB 45.70
B 32.43
CCC or Lower 7.02
Not Rated 4.34
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 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.
 

Maturity Distribution (%)15 as of Jun 30, 2022

Less Than 1 Year 0.27
1 To 3 Years 8.98
3 To 5 Years 28.09
5 To 10 Years 51.99
10 To 20 Years 0.93
20 To 30 Years 2.42
More Than 30 Years 7.32
Total 100.00

Assets by Country (%)6 as of Jun 30, 2022

United States 63.07
United Kingdom 7.22
France 5.82
Germany 4.58
Switzerland 2.58
Spain 1.95
Australia 1.69
Netherlands 1.65
Canada 1.59
Japan 1.40
Total 100.00
View All
 

Geographic Mix (%)6 as of Jun 30, 2022

North America 64.66
Europe 28.91
Asia/Pacific 4.72
Middle East 0.44
Latin America/Caribbean 0.09
Cash & Other Assets 1.17
Total 100.00
 

Fund Holdings (%) as of Aug 31, 2022

Holding % of Net Assets
Alphabet Inc - CL C 3.06%
Microsoft Corp 2.74%
Apple Inc 1.90%
Amazon.com Inc 1.84%
EOG Resources Inc 1.59%
Nestle SA 1.44%
Eli Lilly & Co 1.40%
Coca-Cola Co 1.38%
Walt Disney Co 1.28%
Novo Nordisk A/S 1.11%
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.

RISK CONSIDERATIONS 

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. 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. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. Investments rated below investment grade (sometimes referred to as "junk") are typically 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. 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

Christopher M. Dyer, CFA

Christopher M. Dyer, CFA

Managing Director, Head of Global Equities
Joined Eaton Vance 2015

Biography

Chris is a managing director of Morgan Stanley. He is Head of the Eaton Vance Global Equity team and a portfolio manager for global and international equity portfolios. He joined Eaton Vance in 2015. Morgan Stanley acquired Eaton Vance in March 2021.

Chris began his career in the financial services industry in 1995. Before joining Eaton Vance, he was managing director and head of European equity for Goldman Sachs Asset Management (GSAM), where he was affiliated since 2001.

Chris earned a B.S., cum laude, from Georgetown University and an MBA from The Wharton School, University of Pennsylvania. He is a CFA charterholder.

Education
  • B.S. Georgetown University
  • M.B.A. The Wharton School, University of Pennsylvania

Experience
  • Managed Fund since 2015

 
John H. Croft, CFA

John H. Croft, CFA

Managing Director, Portfolio Manager
Joined Eaton Vance 2004

Biography

John Croft is a portfolio manager on the Investment Grade Credit team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s investment grade strategies. He joined Eaton Vance in 2004, and has 36 years of experience. Morgan Stanley acquired Eaton Vance in March 2021.

John began his career in the investment management industry in 1986. Before joining Eaton Vance, he was a credit analyst with Fidelity Management & Research Co.

John earned a B.A. from Colgate University and an MBA from the University of Chicago Graduate School of Business. He is a CFA charterholder.

Education
  • B.A. Colgate University
  • M.B.A. Booth School of Business, University of Chicago

Experience
  • Managed Fund since 2012

 
Jeffrey D. Mueller

Jeffrey D. Mueller

Managing Director, Co-Head of High Yield
Joined Eaton Vance 2015

Biography

Jeffrey Mueller is the Co-Head of High Yield and a portfolio manager on the High Yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's high yield and multi-asset credit strategies. He joined Eaton Vance in 2015. Morgan Stanley acquired Eaton Vance in March 2021.

Jeff began his career in the investment management industry in 2004. Before joining Eaton Vance, he was a high-yield portfolio manager with Threadneedle Investments. He was previously affiliated with Centaurus Capital Ltd. and Amaranth Advisors LLC.

Jeff earned a B.B.A. from the University of Wisconsin at Madison.

Education
  • B.B.A. University of Wisconsin at Madison

Experience
  • Managed Fund since 2015

 

Derek J.V. DiGregorio

Executive Director, Portfolio Manager
Joined Eaton Vance 2006

Biography

Derek is an executive director of Morgan Stanley, a vice president of Eaton Vance Trust Company and a portfolio manager on the Eaton Vance Specialty Solutions team on a number of Eaton Vance global and domestic equity income portfolios, with particular experience in dividend investing, equity portfolio tax management and equity portfolio strategy implementation. He began his career in the investment management industry in 2006 with Eaton Vance. Morgan Stanley acquired Eaton Vance in March 2021.

Derek earned a B.S. from Bates College and an MBA from Boston University Questrom School of Business.

Education
  • B.S. Bates College
  • M.B.A, Questrom School of Business, Boston University

Experience
  • Managed Fund since 2021

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Jun 30, 2022

Annual Report

Download Annual Report - Last updated: Oct 31, 2021

Full Prospectus

Download Full Prospectus - Last updated: Mar 1, 2022

Q1 Holdings

Download Q1 Holdings - Last updated: Jan 31, 2022

Q3 Holdings

Download Q3 Holdings - Last updated: Jul 31, 2022

Holdings - Form N-PORT

Download Holdings - Form N-PORT

Eaton Vance Announces Upcoming Retirement of Michael A. Allison

Download Eaton Vance Announces Upcoming Retirement of Michael A. Allison - Last updated: May 13, 2021

SAI

Download SAI - Last updated: Mar 1, 2022

Semi-Annual Report

Download Semi-Annual Report - Last updated: Apr 30, 2022

Summary Prospectus

Download Summary Prospectus - Last updated: Mar 1, 2022