Overview

Generate total return employing an opportunistic approach to global fixed income with a value-oriented discipline.

Historical Returns (%) as of Jun 30, 2018

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 performance during certain periods reflects the strong bond market performance and/or the strong performance of bonds held during those periods. This performance is not typical and may not be repeated. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. Max Sales Charge: 1%.
 

Fund Facts as of Jun 30, 2018

Class C Inception 08/20/2013
Performance Inception 01/31/2013
Investment Objective Total return
Total Net Assets $435.8M
Minimum Investment $1000
Expense Ratio2 1.71%
CUSIP 277905238
 

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. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities, as well as, to the risks of investing in income securities. When interest rates rise, the value of preferred stocks will generally decline. The value of equity securities is sensitive to stock market volatility. The Fund's returns are expected to be more volatile than those of its benchmark. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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 Jun 30, 2018

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 performance during certain periods reflects the strong bond market performance and/or the strong performance of bonds held during those periods. This performance is not typical and may not be repeated. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. Max Sales Charge: 1%.
 

Calendar Year Returns (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV 4.03 -17.90 21.27 9.84
Bloomberg Barclays U.S. Government/Credit Bond Index1 5.70 4.52 6.59 8.74 4.82 -2.35 6.01 0.15 3.05 4.00
 

Fund Facts

Expense Ratio2 1.71%
Class C Inception 08/20/2013
Performance Inception 01/31/2013
Distribution Frequency Monthly

Yield Information4 as of Jun 30, 2018

Distribution Rate at NAV 3.33%
SEC 30-day Yield 3.23%
 

Morningstar Rating™ as of Jun 30, 2018

Time Period Rating Funds in
Multisector Bond
Category
Overall ** 267
3 Years ** 267
5 Years *** 208
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.

©2018 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
Jul 13, 2018 $10.49 $0.02
Jul 12, 2018 $10.47 $0.02
Jul 11, 2018 $10.45 -$0.04
Jul 10, 2018 $10.49 $0.03
Jul 09, 2018 $10.46 $0.02
Jul 06, 2018 $10.44 $0.03
Jul 05, 2018 $10.41 $0.01
Jul 03, 2018 $10.40 $0.04
Jul 02, 2018 $10.36 -$0.03
Jun 29, 2018 $10.39 $0.02
 

Distribution History5

Ex-Date Distribution Reinvest NAV
Jun 28, 2018 $0.02880 $10.37
May 30, 2018 $0.03340 $10.53
Apr 27, 2018 $0.03060 $10.64
Mar 28, 2018 $0.02970 $10.69
Feb 27, 2018 $0.02720 $10.84
Jan 30, 2018 $0.03280 $11.06
Dec 28, 2017 $0.02820 $10.86
Nov 29, 2017 $0.02920 $10.83
Oct 30, 2017 $0.03070 $10.77
Sep 28, 2017 $0.02810 $10.88
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 History5

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.

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. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities, as well as, to the risks of investing in income securities. When interest rates rise, the value of preferred stocks will generally decline. The value of equity securities is sensitive to stock market volatility. The Fund's returns are expected to be more volatile than those of its benchmark. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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 as of May 31, 2018

Portfolio Statistics as of May 31, 2018

Number of Issuers 75
Number of Holdings 92
Average Coupon 5.21%
Average Maturity 11.08 yrs.
Effective Duration 4.88 yrs.
Average Price $92.82
 

Credit Quality (%)6 as of May 31, 2018

AAA 11.50
AA 3.93
A 8.80
BBB 26.67
BB 13.60
B 10.65
CCC or Lower 2.01
Not Rated 5.25
Cash 11.89
Equity 5.71
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 (%)7 as of May 31, 2018

Less Than 1 Year 5.07
1 To 3 Years 17.72
3 To 5 Years 11.79
5 To 10 Years 29.52
10 To 20 Years 13.58
20 To 30 Years 17.90
More Than 30 Years 4.42
Total 100.00
 

Currency Exposure (%)6 as of May 31, 2018

United States Dollar 68.60
Australian Dollar 6.40
Canadian Dollar 6.35
New Zealand Dollar 4.92
Mexican Peso 3.82
Brazilian Real 2.37
Malaysian Ringgit 2.19
Indonesian Rupiah 2.11
Indian Rupee 2.00
Danish Krone 0.57
Uruguayan Peso 0.47
Japanese Yen 0.21
Colombian Peso 0.00
Euro -0.00

Assets by Country (%)8 as of May 31, 2018

United States 55.15
Canada 9.16
Mexico 5.71
Brazil 4.10
Australia 3.93
Netherlands 3.21
United Kingdom 2.31
Cayman Islands 2.26
Malaysia 2.19
Israel 2.12
View All
 

Fund Holdings6,9 as of May 31, 2018

Holding Coupon Rate Maturity Date % of Net Assets
EV Cash Reserves Fund LLC 0.00% 11.87%
Mexican Bonos 7.75% 05/29/2031 3.82%
Canada Housing Trust No 1 1.25% 06/15/2021 2.94%
Canadian Government Bond 0.75% 03/01/2021 2.78%
Ford Motor Credit Co LLC 3.59% 06/02/2020 2.48%
Brazil Notas do Tesouro Nacional Serie F 10.00% 01/01/2025 2.38%
Queensland Treasury Corp 5.50% 06/21/2021 2.31%
Malaysia Government Bond 3.44% 02/15/2021 2.19%
Bombardier Inc 7.45% 05/01/2034 2.06%
Petrobras Global Finance BV 5.63% 05/20/2043 2.04%
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. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. 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. As interest rates rise, the value of certain income investments is likely to decline. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities, as well as, to the risks of investing in income securities. When interest rates rise, the value of preferred stocks will generally decline. The value of equity securities is sensitive to stock market volatility. The Fund's returns are expected to be more volatile than those of its benchmark. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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

Kathleen C. Gaffney, CFA

Kathleen C. Gaffney, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

Biography

Kathleen Gaffney is a vice president of Eaton Vance Management, director of diversified fixed income and lead portfolio manager for Eaton Vance’s multisector bond and core plus bond strategies. She is responsible for buy and sell decisions and portfolio construction. She joined Eaton Vance in 2012.

Kathleen began her career in the investment management industry in 1984. Before joining Eaton Vance, Kathleen was a vice president of Loomis, Sayles & Company and portfolio manager for its fixed-income group, managing a variety of mutual funds and institutional strategies.

Kathleen earned a B.A. from the University of Massachusetts, Amherst. She is a CFA charterholder. Her commentary has appeared in The Wall Street Journal, the Financial Times, Institutional Investor, Bloomberg and The New York Times, among other outlets. She has made appearances on Bloomberg TV, Bloomberg Radio and CNBC.

Education
  • B.A. University of Massachusetts, Amherst

Experience
  • Managed Fund since inception

Other funds managed
 
Henry Peabody, CFA

Henry Peabody, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2013

Biography

Henry Peabody is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance’s diversified fixed-income team, supporting core plus bond and multisector products. Previously, he was a credit analyst and team leader on the diversified fixed-income team. He joined Eaton Vance in 2013.

Henry began his career in the investment management industry in 2001. Before joining Eaton Vance, he was a credit analyst with Merganser Capital Management. He was previously affiliated with Emerson Investment Management.

Henry earned a B.A. from Trinity College and an MBA from the Carroll School of Management at Boston College. He is a member of the CFA Society of Boston and is a CFA charterholder.

Education
  • B.A. Trinity College
  • M.B.A. Boston College

Experience
  • Managed Fund since 2014

Other funds managed
 

Literature

Literature

Fact Sheet

Download - Last updated: Mar 31, 2018

Commentary

Download - Last updated: Mar 31, 2018

Attribution

Download - Last updated: Mar 31, 2018

Annual Report

Download - Last updated: Oct 31, 2017

Full Prospectus

Download - Last updated: Jun 25, 2018

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

Download

Eaton Vance Launches New Eaton Vance Bond Fund with Lead Manager Kathleen Gaffney, CFA

Download - Last updated: Jan 31, 2013

SAI

Download - Last updated: Jun 25, 2018

Semi-Annual Report

Download - Last updated: Apr 30, 2018

Summary Prospectus

Download - Last updated: Jun 25, 2018

XBRL

Download - Last updated: Mar 15, 2018