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 Aug 16, 2018
Distribution Rate at NAV 4.98%
Taxable-Equivalent Distribution Rate at NAV 8.41%
Distribution Rate at Market Price 5.48%
Taxable-Equivalent Distribution Rate at Market Price 9.26%
 

Fund Facts as of Jul 31, 2018

Performance Inception 01/29/1999
Investment Objective Current income
CUSIP 27826U108

Expense Ratios (%)2

as of Annual Report dated 11/30/2017
Management Fees 1.20
Other Expenses 0.13
Total Expenses (ex Interest and Fee Expense) 1.33
Interest and Fee Expense 1.25
Total Expenses 2.58
 

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.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.

About Risk: 

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. 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. Because the Trust may invest significantly in a particular sector, the NAV of the Trust’s shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. Borrowing to increase investments (leverage) will exaggerate the effect of any increase or decrease in the value of Trust investments. The Trust may engage in other investment practices that may involve additional risks.


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 -45.90 69.33 0.32 17.86 23.94 -11.99 36.67 7.39 4.13 8.40
Market Price -39.07 61.73 4.66 25.15 16.15 -17.37 37.57 9.54 -3.36 4.06
 

Fund Facts

Performance Inception 01/29/1999
 

Distribution Rates1

as of Aug 16, 2018
Distribution Rate at NAV 4.98%
Taxable-Equivalent Distribution Rate at NAV 8.41%
Distribution Rate at Market Price 5.48%
Taxable-Equivalent Distribution Rate at Market Price 9.26%
 

Distribution History3

Ex-Date Distribution Reinvest Price
Aug 10, 2018 $0.05410 $11.83
Jul 11, 2018 $0.05410 $12.02
Jun 08, 2018 $0.05410 $11.99
May 10, 2018 $0.05410 $11.75
Apr 11, 2018 $0.05410 $11.57
Mar 09, 2018 $0.05410 $11.54
Feb 09, 2018 $0.05410 $11.71
Jan 11, 2018 $0.05410 $12.16
Dec 08, 2017 $0.05410 $12.31
Nov 10, 2017 $0.05410 $12.47
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

Exempt-Interest Dividends    
Non-AMT AMT Total Non-Qualified Ordinary Dividends Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2017 $0.52 $0.11 $0.63 $0.04 $0.00 $0.00 $0.67
2016 $0.59 $0.13 $0.72 $0.04 $0.00 $0.00 $0.76
2015 $0.70 $0.15 $0.85 $0.04 $0.00 $0.00 $0.89
2014 $0.71 $0.16 $0.87 $0.03 $0.00 $0.00 $0.90
2013 $0.73 $0.18 $0.91 $0.02 $0.00 $0.00 $0.93
2012 $0.71 $0.23 $0.94 $0.01 $0.00 $0.00 $0.95
2011 $0.65 $0.33 $0.98 $0.01 $0.00 $0.00 $0.99
2010 $0.59 $0.36 $0.95 $0.00 $0.00 $0.00 $0.95
2009 $0.49 $0.38 $0.87 $0.00 $0.00 $0.00 $0.87
2008 $0.47 $0.34 $0.81 $0.00 $0.00 $0.00 $0.81
2007 $0.60 $0.19 $0.79 $0.00 $0.00 $0.00 $0.79
2006 $0.68 $0.18 $0.86 $0.00 $0.00 $0.00 $0.86
2005 $0.85 $0.24 $1.09 $0.00 $0.00 $0.00 $1.09
Distributions (%)
2017 77.22% 16.27% 93.49% 6.51% 0.00% 0.00% 100.00%
2016 77.76% 17.20% 94.96% 5.04% 0.00% 0.00% 100.00%
2015 78.55% 16.98% 95.53% 4.47% 0.00% 0.00% 100.00%
2014 79.34% 17.34% 96.68% 3.32% 0.00% 0.00% 100.00%
2013 78.28% 19.39% 97.67% 2.33% 0.00% 0.00% 100.00%
2012 75.35% 23.98% 99.33% 0.67% 0.00% 0.00% 100.00%
2011 65.91% 33.17% 99.08% 0.92% 0.00% 0.00% 100.00%
2010 61.20% 38.36% 99.56% 0.44% 0.00% 0.00% 100.00%
2009 55.45% 44.14% 99.59% 0.41% 0.00% 0.00% 100.00%
2008 58.32% 41.67% 99.99% 0.01% 0.00% 0.00% 100.00%
2007 75.98% 23.62% 99.60% 0.40% 0.00% 0.00% 100.00%
2006 79.05% 20.86% 99.91% 0.09% 0.00% 0.00% 100.00%
2005 78.26% 21.58% 99.84% 0.16% 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.

About Risk: 

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. 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. Because the Trust may invest significantly in a particular sector, the NAV of the Trust’s shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. Borrowing to increase investments (leverage) will exaggerate the effect of any increase or decrease in the value of Trust investments. The Trust may engage in other investment practices that may involve additional risks.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.


Portfolio

Municipal Obligations by State/Territory4,5 as of Jun 30, 2018

New York 12.93
Texas 12.76
Illinois 9.15
Puerto Rico 9.05
Florida 7.71
New Jersey 7.52
California 6.30
Georgia 5.17
North Carolina 3.44
Massachusetts 3.17
View All
 

Fund Holdings6,7 as of Jun 30, 2018

Holding Coupon Rate Maturity Date % of Net Assets
County of MiamiDade FL 0.00% 10/01/2037 4.44%
Puerto Rico Highway Transportation Authority 5.25% 07/01/2041 3.61%
Chicago Midway International Airport 5.00% 01/01/2041 3.28%
County of DeKalb GA Water Sewerage Revenue 10.84% 10/01/2035 2.88%
North Carolina Turnpike Authority 0.00% 01/01/2034 2.71%
South Carolina Public Service Authority 5.50% 12/01/2054 2.46%
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.00% 08/01/2043 2.41%
City of Atlantic City NJ 7.50% 03/01/2040 2.34%
Leander Independent School District 0.00% 08/15/2039 2.31%
Boston University 6.00% 05/15/2059 2.26%
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.

About Risk: 

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. 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. Because the Trust may invest significantly in a particular sector, the NAV of the Trust’s shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. Borrowing to increase investments (leverage) will exaggerate the effect of any increase or decrease in the value of Trust investments. The Trust may engage in other investment practices that may involve additional risks.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.


Management

Cynthia J. Clemson

Cynthia J. Clemson

Vice President, Co-Director of Municipal Investments, Eaton Vance Management
Joined Eaton Vance 1985

Biography

Cynthia Clemson is a vice president of Eaton Vance Management, co-director of municipal investments and portfolio manager on Eaton Vance’s municipal bond team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s municipal bond strategies. Cindy began her career in the investment management industry with Eaton Vance in 1985.

Cindy earned a B.A. from Mount Holyoke College and an MBA from Boston University. She is a member of the Boston Municipal Analysts Forum, the CFA Society of Boston, the Municipal Bond Buyer Conference and the National Federation of Municipal Analysts.

Education
  • B.A. Mount Holyoke College
  • M.B.A. Graduate School of Management, Boston University

Experience
  • Managed Fund since 2015

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2018

Annual Report

Download - Last updated: Nov 30, 2017

Prospectus

Download - Last updated: Mar 27, 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

Information Concerning IMTP Coverage and Leverage Percentages

Download - Last updated: Jul 31, 2018

Auction Preferred Shares Market Update

Download - Last updated: Mar 26, 2018

Morningstar EVN Fact Sheet

Download

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 Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Feb 4, 2013

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

Download - Last updated: Jan 24, 2011

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

Download - Last updated: Nov 9, 2010

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

Download - Last updated: Aug 1, 2018

Eaton Vance Municipal Closed-End Funds Announce New Record and Shareholder Meeting Dates

Download - Last updated: Jul 27, 2018

Eaton Vance Municipal Closed-End Funds Announce Proposed Mergers

Download - Last updated: Jul 26, 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

Certain Eaton Vance Municipal Closed-End Funds Announce Authorization of Redemption of Preferred Shares

Download - Last updated: Jun 1, 2018

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

Download - Last updated: May 1, 2018

Eaton Vance Municipal Closed-End Funds Announce Proposed Mergers

Download - Last updated: Apr 26, 2018

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

Download - Last updated: Apr 2, 2018

Eaton Vance Municipal Closed-End FUnds Announce Mandatory Redemptions of Auction Preferred Shares Outstanding

Download - Last updated: Mar 12, 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

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Aug 31, 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

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

Download - Last updated: Sep 1, 2016

Eaton Vance Municipal Income Closed-End Funds Announce Final Results of Auction Preferred Shares Tender Offers and Issuance of New Preferred Shares

Download - Last updated: Feb 26, 2016

Eaton Vance Municipal Income Closed-End Funds Announce Expiration and Preliminary Results of Auction Preferred Shares Tender Offers

Download - Last updated: Feb 24, 2016

Eaton Vance Municipal Income Closed End Funds Announce Extension of Auction Preferred Shares Tender Offers

Download - Last updated: Feb 16, 2016

Eaton Vance Municipal Income Closed End Funds Announce Extension of Auction Preferred Shares Tender Offers

Download - Last updated: Feb 3, 2016

Eaton Vance Municipal Income Closed-End Funds Announce Tender Offers for Outstanding Auction Preferred Shares

Download - Last updated: Dec 21, 2015

Eaton Vance Municipal Income Closed-End Funds Announce Tender Offers for Outstanding Auction Preferred Shares

Download - Last updated: Oct 5, 2015

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

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

Download - Last updated: May 1, 2013

SAI

Download - Last updated: Mar 27, 2018

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: May 31, 2018