Overview

Historical Returns (%) as of Mar 31, 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.
 

Fund Facts as of May 31, 2021

Performance Inception 12/16/2015
Investment Objective Long-term capital appreciation
Total Net Assets $79.0M
Expense Ratio (Gross)4,5 1.58%
Expense Ratio (Net)4,5 1.42%
CUSIP 27830N702

Top 10 Holdings (%)6,7 as of Mar 31, 2021

Howden Joinery Group PLC 1.51
IMCD NV 1.49
Diploma PLC 1.46
Interpump Group SpA 1.46
Indutrade AB 1.40
AddTech AB 1.39
Invesco Office J-Reit Inc 1.35
BFF Bank SpA 1.35
RWS Holdings PLC 1.34
Bravida Holding AB 1.32
Total 14.07
 

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

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. The value of equity securities 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, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. 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 Mar 31, 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.
 

Calendar Year Returns (%)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fund at NAV 0.74 36.86 -15.47 24.31 12.99
MSCI World ex USA Small Cap Index3 -15.81 17.48 25.55 -5.35 5.46 4.32 31.04 -18.07 25.41 12.78
 

Fund Facts

Expense Ratio (Gross)4,5 1.58%
Expense Ratio (Net)4,5 1.42%
Performance Inception 12/16/2015
Distribution Frequency Annually
 

Morningstar Rating™ as of May 31, 2021

Time Period Rating Funds in
Foreign Small/Mid Growth
Category
Overall 120
3 Years 120
5 Years 107
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.

©2021 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
Jun 24, 2021 $15.93 $0.10
Jun 23, 2021 $15.83 -$0.09
Jun 22, 2021 $15.92 $0.06
Jun 21, 2021 $15.86 $0.18
Jun 18, 2021 $15.68 -$0.25
Jun 17, 2021 $15.93 -$0.17
Jun 16, 2021 $16.10 -$0.13
Jun 15, 2021 $16.23 -$0.02
Jun 14, 2021 $16.25 $0.01
Jun 11, 2021 $16.24 -$0.01
 

Distribution History9

Ex-Date Distribution Reinvest NAV
Dec 30, 2020 $0.11650 $14.66
Dec 30, 2019 $0.20350 $13.02
Dec 28, 2018 $0.09630 $10.59
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 28, 2018 $0.11190 $0.27570 $10.59
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: 

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. 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 countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. 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 (%)7 as of Mar 31, 2021

Portfolio Statistics as of Mar 31, 2021

Average Market Cap $4.5B
Price/Earnings Ratio 19.36
Number of Holdings 132
Price/Book Ratio 2.17
Countries Represented 26
Active Share10 93.20%
 

GICS Sector Breakdown (%)7 as of Mar 31, 2021

Assets by Country (%)7 as of Mar 31, 2021

Japan 25.69
United Kingdom 17.01
Canada 7.39
Sweden 7.20
Italy 6.48
Australia 6.00
United States 4.40
Netherlands 4.39
Switzerland 4.00
Germany 2.62
Total 100.00
View All
 

Geographic Mix (%)7 as of Mar 31, 2021

Europe 51.82
Asia/Pacific 34.65
North America 11.79
Middle East 0.81
Latin America/Caribbean 0.45
Cash & Other Assets 0.48
Total 100.00
 

Fund Holdings (%)7,11 as of Apr 30, 2021

Holding % of Net Assets
Invesco Office J-Reit Inc 1.51%
Howden Joinery Group PLC 1.50%
IMCD NV 1.50%
Interpump Group SpA 1.47%
RWS Holdings PLC 1.45%
Diploma PLC 1.42%
Games Workshop Group PLC 1.32%
BFF Bank SpA 1.31%
Norma Group SE 1.30%
Aalberts NV 1.26%
View All

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

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. The value of equity securities 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, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. 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

Aidan M. Farrell

Aidan M. Farrell

Vice President, Eaton Vance Global Advisors Limited
Joined Eaton Vance 2015

Biography

Aidan Farrell is a vice president of Eaton Vance Global Advisors Limited and executive director, chief executive officer and equity portfolio manager. He is responsible for managing global and international small-cap equity portfolios, leading a team of analysts. He joined Eaton Vance in 2015.

Aidan began his career in the investment management industry in 1996. Before joining Eaton Vance, he was managing director and a lead portfolio manager for Goldman Sachs Asset Management (GSAM). Prior to June 2008, he served as a director of European equities for Investment Insight (formerly the asset management arm of Halifax Bank of Scotland).

Aidan earned a B.A. in economics from the University College Dublin and a postgraduate diploma in business studies from the University College Dublin Michael Smurfit Graduate Business School. Aidan is an associate of the CFA Society of the UK.

Education
  • B.A. University College Dublin
  • Pg.Dip. University College Dublin

Experience
  • Managed Fund since inception

Other funds managed
 

Literature

Literature

Fact Sheet

Download - Last updated: Mar 31, 2021

Annual Report

Download - Last updated: Nov 30, 2020

Full Prospectus

Download - Last updated: Apr 1, 2021

Q1 Holdings

Download - Last updated: Feb 28, 2021

Q3 Holdings

Download - Last updated: Aug 31, 2020

Holdings - Form N-PORT

Download

SAI

Download - Last updated: Apr 1, 2021

Semi-Annual Report

Download - Last updated: May 31, 2020

Summary Prospectus

Download - Last updated: Apr 1, 2021