Overview

Historical Returns (%)as of Jun 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
08/31/2016
Fund at NAV 1.47 4.33 11.49 7.70 6.21 7.11 7.28
Market Price 1.31 7.34 15.97 16.56 6.43 6.69 6.47
06/30/2016
Fund at NAV 0.55 3.93 7.46 2.85 5.30 5.74 7.12
Market Price 2.20 4.33 10.42 9.58 2.91 4.25 6.50
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 Sep 26, 2016
Distribution Rate at NAV 6.91%
Distribution Rate at Market Price 7.64%

Fund Factsas of Aug 31, 2016

Performance Inception 05/30/2003
Investment Objective High current income
CUSIP 27828H105

Portfolio Management

Scott H. Page, CFA Managed Fund since inception
Payson F. Swaffield, CFA Managed Fund since inception
Michael W. Weilheimer, CFA Managed Fund since inception
Catherine McDermott Managed Fund since 2008
Andrew Szczurowski, CFA Managed Fund since 2011
Eric Stein, CFA Managed Fund since 2012

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.


Performance

Historical Returns (%)as of Jun 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
08/31/2016
Fund at NAV 1.47 4.33 11.49 7.70 6.21 7.11 7.28
Market Price 1.31 7.34 15.97 16.56 6.43 6.69 6.47
06/30/2016
Fund at NAV 0.55 3.93 7.46 2.85 5.30 5.74 7.12
Market Price 2.20 4.33 10.42 9.58 2.91 4.25 6.50
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 (%)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fund at NAV 9.17 3.26 -27.89 59.53 14.51 4.77 11.92 6.32 3.77 -0.62
Market Price 21.26 -8.83 -26.54 68.31 17.42 2.24 18.05 -0.82 0.06 -1.20

Fund Facts

Performance Inception 05/30/2003

Distribution Rates1

as of Sep 26, 2016
Distribution Rate at NAV 6.91%
Distribution Rate at Market Price 7.64%

Distribution History2,3

Ex-Date Distribution Reinvest Price
Sep 08, 2016 $0.08670 $13.76
Aug 09, 2016 $0.10170 $13.89
Jul 07, 2016 $0.10170 $13.72
Jun 09, 2016 $0.10170 $13.39
May 10, 2016 $0.10170 $13.24
Apr 07, 2016 $0.10170 $13.27
Mar 09, 2016 $0.10170 $13.16
Feb 09, 2016 $0.10170 $12.15
Jan 12, 2016 $0.10170 $12.19
Dec 09, 2015 $0.10170 $12.67
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 ($)
2015 $1.18 $0.02 $1.20 $0.00 $0.02 $1.22
2014 $1.16 $0.02 $1.18 $0.00 $0.04 $1.22
2013 $1.18 $0.01 $1.19 $0.00 $0.03 $1.22
2012 $1.21 $0.00 $1.21 $0.00 $0.04 $1.25
2011 $1.12 $0.00 $1.12 $0.00 $0.05 $1.17
2010 $1.39 $0.00 $1.39 $0.00 $0.00 $1.39
2009 $1.41 $0.00 $1.41 $0.00 $0.02 $1.43
2008 $1.31 $0.00 $1.31 $0.00 $0.00 $1.31
2007 $1.51 $0.00 $1.51 $0.00 $0.00 $1.51
2006 $1.51 $0.00 $1.51 $0.00 $0.00 $1.51
2005 $1.53 $0.00 $1.53 $0.00 $0.00 $1.53
Distributions (%)
2015 96.98% 1.10% 98.08% 0.00% 1.92% 100.00%
2014 95.25% 1.31% 96.56% 0.00% 3.44% 100.00%
2013 96.95% 0.37% 97.32% 0.00% 2.68% 100.00%
2012 96.55% 0.00% 96.55% 0.00% 3.45% 100.00%
2011 95.30% 0.00% 95.30% 0.00% 4.70% 100.00%
2010 100.00% 0.00% 100.00% 0.00% 0.00% 100.00%
2009 98.38% 0.00% 98.38% 0.00% 1.62% 100.00%
2008 100.00% 0.00% 100.00% 0.00% 0.00% 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.

In recent years, a significant portion of the Fund’s distributions has been characterized as return of capital.

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.


Portfolio

Fund Holdings4,5as of Jul 31, 2016

Holding Coupon Rate Maturity Date % of Net Assets
United States Treasury Note/Bond 8.88% 02/15/2019 1.80%
EV Cash Reserves Fund 0.12% 07/25/2016 1.74%
BlackRock Corporate High Yield Fund Inc 0.00% 1.21%
Fannie Mae Pool - AL7246 2.65% 08/01/2036 1.02%
Freddie Mac REMICS 7.67% 12/15/2044 0.96%
Sprint Communications Inc 9.00% 11/15/2018 0.86%
Fannie Mae Pool - AL2899 4.50% 07/01/2042 0.82%
Laureate Education Inc 9.25% 09/01/2019 0.76%
Fannie Mae REMICS 3.00% 03/25/2044 0.68%
Virgin Media Finance PLC 6.38% 04/15/2023 0.65%
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.


Insights & Analysis

Commentary

No commentary information is currently available.

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.

Attribution

No attribution information is currently available.


Management

Biography
Scott H. Page, CFA

Scott H. Page, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1989

Scott Page is a vice president of Eaton Vance Management, co-director and portfolio manager with Eaton Vance’s Floating-Rate Loan Group.

Scott joined Eaton Vance in 1989 as an analyst with the group. He was promoted to lead the firm’s floating-rate loan practice in 1996. His previous experience includes an affiliation with the Dartmouth College Investment Office, as well as corporate finance/lending and credit review at Citicorp and Chase Manhattan Bank.

Scott earned a B.A. from Williams College in 1981 and an MBA from the Amos Tuck School at Dartmouth College in 1987. He is a CFA charterholder and has served as a member of the Board of Directors of the LSTA (Loan Syndications and Trading Association).

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

Education
  • B.A. Williams College
  • M.B.A. Amos Tuck School of Business Administration, Dartmouth College
Experience
  • Managed Fund since inception
Biography
Payson F. Swaffield, CFA

Payson F. Swaffield, CFA

Vice President, Chief Income Investment Officer, Eaton Vance Management
Joined Eaton Vance 1990

Payson Swaffield is vice president and chief income investment officer of Eaton Vance Management. He is responsible for all income disciplines at Eaton Vance, including municipal bonds, floating-rate bank loans, investment-grade and high-yield bonds, global fixed income and customized solutions for defined benefit pension plans.

Payson joined Eaton Vance in 1990 as a senior financial analyst in the bank loan group. He served as co-department head of the bank loan group and co-portfolio manager of Eaton Vance's bank loan funds from 1996 to 2007.

Previously, Payson held positions in valuation and corporate finance at Conning & Company, State Street Bank, and Duff & Phelps, Inc., and in commercial lending at Northern Trust.

Payson earned a B.A. from Middlebury College in 1978 and an M.B.A. from the University of Chicago Booth School of Business in 1983. He served on the Board of the LSTA (Loan Syndications and Trading Association) from 2001-2008, and his commentary on the bank loan market has appeared in Bloomberg, Business Week, Kiplinger's, USA Today and The Wall Street Journal.

Education
  • B.A. Middlebury College
  • M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since inception
Biography
Michael W. Weilheimer, CFA

Michael W. Weilheimer, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1990

Michael Weilheimer is a vice president of Eaton Vance Management, director of high-yield investments and a portfolio manager on Eaton Vance’s high-yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield strategies. He joined Eaton Vance in 1990.

Mike began his career in the investment management industry in 1987. Before joining Eaton Vance, he worked for Cowen & Company as an analyst specializing in distressed debt securities and was also affiliated with Amroc Investments, L.P.

Mike earned a B.S. from the University at Albany, State University of New York and an MBA from the University of Chicago. He is a member of the Boston Security Analysts Society, is on the board of trustees for Gann Academy, and on the dean’s advisory board for the School of Business, University at Albany, State University of New York. He is a CFA charterholder.

Mike’s commentary has appeared in Barron’s, The Wall Street Journal, Reuters and USA Today.

Education
  • B.S. State University of New York at Albany
  • M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since inception
 
Biography
Catherine McDermott

Catherine McDermott

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Catherine McDermott is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s floating-rate loan team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s floating-rate loan strategies. Her focus is primarily on the automotive industry in addition to casinos, general industrial, theaters, packaging and consumer products. She joined Eaton Vance in 2000.

Catherine began her career in the investment management industry in 1988. Before joining Eaton Vance, she was a principal at Cypress Tree Investment Management and a vice president of corporate underwriting and research at Financial Security Assurance Inc.

Catherine earned a B.S., summa cum laude, from Boston College.

Education
  • B.S. Boston College
Experience
  • Managed Fund since 2008
Biography
Andrew Szczurowski, CFA

Andrew Szczurowski, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2007

Andrew Szczurowski is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s global income team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s mortgage-backed securities strategies. He joined Eaton Vance in 2007.

Andrew began his career in the investment management industry in 2005. Before joining Eaton Vance, he was affiliated with BNY Mellon.

Andrew earned a B.S., cum laude, from Peter T. Paul College of Business and Economics at the University of New Hampshire. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.S. University of New Hampshire
Experience
  • Managed Fund since 2011
Biography
Eric Stein, CFA

Eric Stein, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2002; rejoined the firm in 2008

Eric Stein is a vice president of Eaton Vance Management, co-director of global income and portfolio manager in Eaton Vance’s global income group. He is responsible for leading the 45-person global income team, as well as for buy and sell decisions, portfolio construction and risk management for the firm’s global income strategies. He focuses on Asia, Western Europe and the Dollar Bloc. He also covers the policies and actions of the Federal Reserve and the U.S. Treasury. He originally joined Eaton Vance in 2002 and rejoined the company in 2008.

Eric previously worked on the Markets Desk of the Federal Reserve Bank of New York. He has additional experience at Citigroup Alternative Investments.

Eric earned a B.S., cum laude, from Boston University and an MBA, with honors, from the University of Chicago Booth School of Business. He is a term member of the Council on Foreign Relations. He is also a CFA charterholder and a member of the Boston Committee on Foreign Relations, Boston Economic Club, Business Associates Club, Enterprise Club, AEI Boston Council and Boston Security Analysts Society. Eric is on the board of overseers of Big Brothers Big Sisters of Massachusetts Bay. He also serves as a board member and member of the investment committee of the Boston Civic Symphony.

Eric’s commentary has appeared in The New York Times, The Wall Street Journal, Barron’s, Financial Times, The Washington Post, Bloomberg, Dow Jones, Reuters, Kiplinger’s and The Christian Science Monitor. He has been featured on CNBC, Fox News, Fox Business News, PBS, Bloomberg Radio and Bloomberg TV.

Education
  • B.S. Boston University
  • M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since 2012

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2016

Report of Organizational Actions Affecting Basis of Securities

Download - Last updated: Mar 31, 2012

Annual Report

Download - Last updated: Mar 31, 2016

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

Download

Reinvesting Closed-End Fund Distributions

Download - Last updated: Sep 30, 2015

Return of Capital Distributions Demystified

Download - Last updated: Sep 30, 2015

Information Concerning APS Auctions and Dividend Rates

Download - Last updated: Sep 26, 2016

Auction Preferred Shares Market Update

Download - Last updated: Feb 26, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Sep 30, 2015

Morningstar EVV Fact Sheet

Download

Eaton Vance Closed-End Funds Adopt Share Repurchase Programs

Download - Last updated: Nov 15, 2013

Eric A. Stein to Join Portfolio Management Team of Eaton Vance Limited Duration Income Fund and Eaton Vance Short Duration Diversified Income Fund

Download - Last updated: Nov 27, 2012

Moody's Downgrades

Download - Last updated: Jul 17, 2012

Trustees of Eaton Vance Limited Duration Income Fund Approve Change in Investment Policies

Download - Last updated: Mar 17, 2011

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

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jul 31, 2016

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

Download - Last updated: Jul 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jun 30, 2016

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

Download - Last updated: Jun 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: May 31, 2016

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

Download - Last updated: May 2, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Apr 30, 2016

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

Download - Last updated: Apr 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Mar 31, 2016

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

Download - Last updated: Mar 1, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Feb 29, 2016

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

Download - Last updated: Feb 1, 2016

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

Download - Last updated: Jan 4, 2016

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Dec 31, 2015

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

Download - Last updated: Dec 1, 2015

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

Download - Last updated: Nov 2, 2015

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Oct 31, 2015

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

Download - Last updated: Oct 1, 2015

Eaton Vance Limited Duration Income Fund Eaton Vance National Municipal Opportunities Trust Annual Meetings of Shareholders

Download - Last updated: Sep 28, 2015

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

Download - Last updated: Sep 1, 2015

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

Download - Last updated: Aug 3, 2015

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

Download - Last updated: Jul 1, 2015

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

Download - Last updated: Jun 1, 2015

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

Download - Last updated: May 1, 2015

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

Download - Last updated: Apr 1, 2015

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

Download - Last updated: Mar 2, 2015

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

Download - Last updated: Feb 2, 2015

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

Download - Last updated: Jan 2, 2015

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

Download - Last updated: Dec 1, 2014

Distribution Dates and amounts announced for Certain Eaton Vance Closed-End Funds

Download - Last updated: Nov 3, 2014

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

Download - Last updated: Oct 1, 2014

Eaton Vance Limited Duration Income Fund and Eaton Vance Short Duration Diversified Income Fund Approve Change in Investment Policies

Download - Last updated: May 20, 2011

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: Sep 30, 2015