Overview

Historical Returns (%) as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
11/30/2017
Fund at NAV 0.12 0.17 5.05 5.89 3.80 3.84 7.27
Market Price 6.51 4.01 16.37 16.88 9.96 4.68 8.04
09/30/2017
Fund at NAV -0.15 1.46 4.70 0.88 4.30 4.48 7.38
Market Price 0.97 4.83 12.97 3.00 9.86 4.81 7.82
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 Dec 11, 2017
Distribution Rate at NAV 4.69%
Taxable-Equivalent Distribution Rate at NAV 8.29%
Distribution Rate at Market Price 4.50%
Taxable-Equivalent Distribution Rate at Market Price 7.95%

Fund Facts as of Nov 30, 2017

Performance Inception 05/29/2009
Investment Objective Current income
CUSIP 27829L105
 

Expense Ratios (%)2

as of Annual Report dated 03/31/2017
Management Fees 0.67
Other Expenses 0.08
Total Expenses (ex Interest and Fee Expense) 0.75
Interest and Fee Expense 0.16
Total Expenses 0.91

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 Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
11/30/2017
Fund at NAV 0.12 0.17 5.05 5.89 3.80 3.84 7.27
Market Price 6.51 4.01 16.37 16.88 9.96 4.68 8.04
09/30/2017
Fund at NAV -0.15 1.46 4.70 0.88 4.30 4.48 7.38
Market Price 0.97 4.83 12.97 3.00 9.86 4.81 7.82
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 (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 1.40 11.49 14.47 -4.83 17.44 4.35 0.87
Market Price 6.41 16.44 11.22 -12.15 19.77 7.19 2.65
 

Fund Facts

Performance Inception 05/29/2009

Distribution Rates1

as of Dec 11, 2017
Distribution Rate at NAV 4.69%
Taxable-Equivalent Distribution Rate at NAV 8.29%
Distribution Rate at Market Price 4.50%
Taxable-Equivalent Distribution Rate at Market Price 7.95%
 

Distribution History3

Ex-Date Distribution Reinvest Price
Oct 23, 2017 $0.08590 $21.88
Sep 21, 2017 $0.08590 $21.92
Aug 22, 2017 $0.08590 $22.04
Jul 20, 2017 $0.08590 $21.91
Jun 21, 2017 $0.08590 $21.86
May 22, 2017 $0.08590 $21.98
Apr 19, 2017 $0.08590 $21.72
Mar 22, 2017 $0.08590 $21.59
Feb 16, 2017 $0.08590 $21.73
Jan 20, 2017 $0.08590 $21.36
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 ($)
2016 $0.85 $0.13 $0.98 $0.06 $0.20 $0.00 $1.24
2015 $0.86 $0.14 $1.00 $0.03 $0.00 $0.00 $1.03
2014 $0.85 $0.15 $1.00 $0.03 $0.00 $0.00 $1.03
2013 $0.86 $0.17 $1.03 $0.01 $0.00 $0.00 $1.04
2012 $0.90 $0.18 $1.08 $0.01 $0.00 $0.00 $1.09
2011 $0.97 $0.21 $1.18 $0.01 $0.00 $0.00 $1.19
2010 $1.24 $0.00 $1.24 $0.11 $0.02 $0.00 $1.37
2009 $0.70 $0.00 $0.70 $0.00 $0.00 $0.00 $0.70
Distributions (%)
2016 68.52% 10.40% 78.92% 4.94% 16.14% 0.00% 100.00%
2015 83.40% 13.27% 96.67% 3.33% 0.00% 0.00% 100.00%
2014 82.34% 15.14% 97.48% 2.52% 0.00% 0.00% 100.00%
2013 82.74% 16.44% 99.18% 0.82% 0.00% 0.00% 100.00%
2012 82.80% 16.57% 99.37% 0.63% 0.00% 0.00% 100.00%
2011 81.31% 18.15% 99.46% 0.54% 0.00% 0.00% 100.00%
2010 90.65% 0.00% 90.65% 8.26% 1.09% 0.00% 100.00%
2009 99.96% 0.00% 99.96% 0.04% 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 Oct 31, 2017

Holding Coupon Rate Maturity Date % of Net Assets
Duke Energy Indiana LLC 6.00% 08/01/2039 2.48%
New Jersey Transportation Trust Fund Authority 0.00% 12/15/2038 2.29%
County of MiamiDade FL 0.00% 10/01/2039 2.18%
San Joaquin Hills Transportation Corridor Agency 5.00% 01/15/2050 2.14%
AEP Texas Inc 6.30% 11/01/2029 2.02%
North Carolina Turnpike Authority 0.00% 01/01/2036 2.00%
Adventist Health SystemSunbelt Obligated Group 5.75% 11/15/2038 1.98%
State of Illinois 5.00% 11/01/2029 1.97%
State of California 6.00% 04/01/2038 1.85%
DallasFort Worth International Airport 5.00% 11/01/2038 1.74%
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

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 Boston Security Analysts Society, 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 inception

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2017

Commentary

Download - Last updated: Sep 30, 2017

Annual Report

Download - Last updated: Mar 31, 2017

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

Download

Eaton Vance and Calvert municipal funds' holdings in Puerto Rico debt

Download - Last updated: Oct 1, 2017

Morningstar EOT Fact Sheet

Download

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 Announces Updated Results of Closed-End Fund Share Repurchase Programs

Download - Last updated: Jan 9, 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 National Municipal Opportunities Trust Opportunities Trust

Download - Last updated: Nov 30, 2010

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

Download - Last updated: Nov 9, 2010

Eaton Vance National Municipal Opportunities Trust Declares Capital Gain Distributions

Download - Last updated: Dec 11, 2017

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

Download - Last updated: Dec 1, 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

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jul 31, 2017

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

Download - Last updated: Jul 3, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jun 30, 2017

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

Download - Last updated: Jun 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: May 31, 2017

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

Download - Last updated: May 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Apr 30, 2017

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

Download - Last updated: Apr 3, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Mar 31, 2017

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

Download - Last updated: Mar 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Feb 28, 2017

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

Download - Last updated: Feb 1, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Jan 31, 2017

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

Download - Last updated: Jan 3, 2017

Closed-End Fund Earnings Undistributed Net Income Information

Download - Last updated: Dec 31, 2016

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

Download - Last updated: Dec 1, 2016

Eaton Vance National Municipal Opportunities Trust Declares Capital Gain Distribution

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

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

Download - Last updated: Aug 1, 2016

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

Download - Last updated: Jul 1, 2016

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

Download - Last updated: Jun 1, 2016

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

Download - Last updated: May 2, 2016

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

Download - Last updated: Apr 1, 2016

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

Download - Last updated: Mar 1, 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

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

Proxy Statement

Download - Last updated: Nov 27, 2017

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: Sep 30, 2017