Overview

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 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 19, 2018
Distribution Rate at NAV 4.22%
Taxable-Equivalent Distribution Rate at NAV 7.13%
Distribution Rate at Market Price 4.33%
Taxable-Equivalent Distribution Rate at Market Price 7.31%
 

Fund Facts as of Aug 31, 2018

Performance Inception 03/28/2013
Investment Objective Current income
CUSIP 27829U105

Expense Ratios (%)2

as of Annual Report dated 01/31/2018
Management Fees 0.95
Other Expenses 0.12
Total Expenses (ex Interest and Fee Expense) 1.07
Interest and Fee Expense 0.91
Total Expenses 1.98
 

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

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, 2018

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 (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV 31.47 7.44 2.01 8.78
Market Price 26.14 10.80 10.63 10.20
 

Fund Facts

Performance Inception 03/28/2013
 

Distribution Rates1

as of Sep 19, 2018
Distribution Rate at NAV 4.22%
Taxable-Equivalent Distribution Rate at NAV 7.13%
Distribution Rate at Market Price 4.33%
Taxable-Equivalent Distribution Rate at Market Price 7.31%
 

Distribution History3

Ex-Date Distribution Reinvest Price
Aug 23, 2018 $0.07090 $19.51
Jul 23, 2018 $0.07090 $19.82
Jun 21, 2018 $0.07090 $20.21
May 23, 2018 $0.07090 $19.36
Apr 20, 2018 $0.07090 $19.32
Mar 21, 2018 $0.07090 $19.02
Feb 20, 2018 $0.07090 $19.20
Jan 23, 2018 $0.07090 $19.57
Dec 21, 2017 $0.07090 $20.57
Nov 21, 2017 $0.07090 $20.19
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
 

Tax Character of Distributions

Exempt-Interest Dividends    
Non-AMT AMT Total Non-Qualified Ordinary Dividends Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2017 $0.70 $0.11 $0.81 $0.04 $0.00 $0.00 $0.85
2016 $0.70 $0.11 $0.81 $0.04 $0.00 $0.00 $0.85
2015 $0.71 $0.11 $0.82 $0.03 $0.00 $0.00 $0.85
2014 $0.72 $0.12 $0.84 $0.01 $0.00 $0.00 $0.85
2013 $0.44 $0.06 $0.50 $0.00 $0.00 $0.00 $0.50
Distributions (%)
2017 82.28% 12.67% 94.95% 5.05% 0.00% 0.00% 100.00%
2016 81.82% 13.32% 95.14% 4.86% 0.00% 0.00% 100.00%
2015 83.14% 13.66% 96.80% 3.20% 0.00% 0.00% 100.00%
2014 84.70% 14.53% 99.23% 0.77% 0.00% 0.00% 100.00%
2013 88.39% 11.61% 100.00% 0.00% 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. Exempt-interest dividends are not subject to regular federal income tax. Exempt-interest dividends derived from specified private activity bonds are subject to the alternative minimum tax (AMT). Non-qualified ordinary dividends are subject to federal income tax at ordinary rates. Capital gains distributions are taxable at long-term capital gain 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.

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 Holdings4,5 as of Jul 31, 2018

Holding Coupon Rate Maturity Date % of Net Assets
New Jersey Transportation Trust Fund Authority 0.00% 12/15/2028 2.75%
Great Lakes Water Authority Water Supply System Revenue 5.00% 07/01/2030 2.52%
Tender Option Bond Trust ReceiptsCertificates 5.29% 11/15/2032 2.46%
Puerto Rico Electric Power Authority 5.25% 07/01/2030 2.43%
Tender Option Bond Trust ReceiptsCertificates 4.77% 01/01/2031 2.34%
Tender Option Bond Trust ReceiptsCertificates 12.50% 03/15/2030 2.17%
Delta Air Lines Inc 5.00% 01/01/2030 2.08%
Delta Air Lines Inc 5.00% 01/01/2027 1.94%
City of Atlantic City NJ 7.00% 03/01/2028 1.66%
Port Authority of New York New Jersey 7.27% 07/15/2036 1.62%
View All

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

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.


Management

Craig R. Brandon, CFA

Craig R. Brandon, CFA

Vice President, Co-Director of Municipal Investments, Eaton Vance Management
Joined Eaton Vance 1998

Biography

Craig Brandon is a vice president of Eaton Vance Management, co-director of municipal investments and portfolio manager on Eaton Vance’s municipal bond team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s municipal bond strategies. He joined Eaton Vance in 1998.

Craig began his career in the investment management industry in 1995. He has experience with Eaton Vance across a variety of research roles. Before joining Eaton Vance, he was a senior budget and capital finance analyst with the New York State Assembly Ways and Means Committee.

Craig earned a B.S. from Canisius College and an MBA from the University of Pittsburgh. He is a member of the CFA Society of Boston, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts. He is a CFA charterholder.

Education
  • B.A. Canisius College
  • M.B.A. Joseph M. Katz Graduate School of Business, University of Pittsburgh

Experience
  • Managed Fund since 2015

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2018

Commentary

Download - Last updated: Jun 30, 2018

Annual Report

Download - Last updated: Jan 31, 2018

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

Download

Eaton Vance municipal funds' holdings in Puerto Rico debt

Download - Last updated: Mar 6, 2018

Morningstar ETX Fact Sheet

Download

UNII Report

Download - Last updated: Aug 31, 2018

UNII Report

Download - Last updated: Jul 31, 2018

UNII Report

Download - Last updated: Jun 30, 2018

UNII Report

Download - Last updated: May 31, 2018

UNII Report

Download - Last updated: Apr 30, 2018

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Apr 24, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jan 21, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Nov 20, 2013

Eaton Vance Closed-End Funds Adopt Share Repurchase Programs

Download - Last updated: Nov 15, 2013

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jul 16, 2013

Eaton Vance Municipal Income Trust Data Now Available

Download - Last updated: Jun 19, 2013

Eaton Vance Municipal Income Term Trust (ETX) Raises $205 Million in Initial Public Offering

Download - Last updated: Mar 26, 2013

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

Download - Last updated: Sep 4, 2018

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

Download - Last updated: Aug 1, 2018

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

Download - Last updated: Jul 2, 2018

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

Download - Last updated: Jun 1, 2018

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

Download - Last updated: May 1, 2018

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

Download - Last updated: Apr 2, 2018

UNII Report

Download - Last updated: Mar 31, 2018

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

Download - Last updated: Mar 1, 2018

UNII Report

Download - Last updated: Feb 28, 2018

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

Download - Last updated: Feb 1, 2018

UNII Report

Download - Last updated: Jan 31, 2018

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

Download - Last updated: Jan 2, 2018

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Dec 31, 2017

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

Download - Last updated: Dec 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Nov 30, 2017

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

Download - Last updated: Nov 1, 2017

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

Download - Last updated: Oct 2, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Sep 30, 2017

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

Download - Last updated: Sep 1, 2017

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

Download - Last updated: Aug 1, 2017

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

Download - Last updated: Jul 3, 2017

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

Download - Last updated: Jun 1, 2017

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

Download - Last updated: May 1, 2017

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

Download - Last updated: Apr 3, 2017

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

Download - Last updated: Mar 1, 2017

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

Download - Last updated: Feb 1, 2017

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

Download - Last updated: Jan 3, 2017

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

Download - Last updated: Dec 1, 2016

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

Download - Last updated: Nov 1, 2016

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

Download - Last updated: Oct 3, 2016

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jan 16, 2015

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Oct 20, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jul 30, 2014

Section 16 Filings - www.sec.gov

Download - Last updated: Sep 4, 2013

Semi-Annual Report

Download - Last updated: Jul 31, 2018