Overview

Historical Returns (%) as of Sep 30, 2019

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. The share class has no sales charge.
 

Fund Facts as of Oct 31, 2019

Investor Class Inception 03/26/2014
Investment Objective Current income and total return
Total Net Assets $58.5M
Minimum Investment $1000
Expense Ratio (Gross)4 0.91%
Expense Ratio (Net)4,5 0.65%
CUSIP 27826A821

Top 10 Holdings (%)6,7 as of Sep 30, 2019

Intel Corporation 0.62
Medtronic PLC 0.62
Packaging Corporation of America 0.61
Evergy, Inc. 0.61
MDU Resources Group Inc. 0.61
NextEra Energy, Inc. 0.61
Everest Re Group, Ltd. 0.60
Procter & Gamble Company 0.60
Hanover Insurance Group, Inc. 0.60
Amgen Inc. 0.60
Total 6.08
 

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. 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 Sep 30, 2019

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. The share class has no sales charge.
 

Calendar Year Returns (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Fund at NAV -0.68 19.33 15.47 -7.62
Russell 1000® Value Index3 19.69 15.51 0.39 17.51 32.53 13.45 -3.83 17.34 13.66 -8.27
 

Fund Facts

Expense Ratio (Gross)4 0.91%
Expense Ratio (Net)4,5 0.65%
Investor Class Inception 03/26/2014
Distribution Frequency Quarterly

Yield Information as of Oct 31, 2019

Distribution Rate at NAV 2.46%
Subsidized SEC 30-day Yield9 2.54%
Unsubsidized SEC 30-day Yield 2.37%
 

Morningstar Rating™ as of Oct 31, 2019

Time Period Rating Funds in
Large Value
Category
Overall 1094
3 Years 1094
5 Years 947
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. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2019 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
Nov 15, 2019 $13.36 $0.09
Nov 14, 2019 $13.27 $0.01
Nov 13, 2019 $13.26 -$0.02
Nov 12, 2019 $13.28 -$0.01
Nov 11, 2019 $13.29 -$0.04
Nov 08, 2019 $13.33 $0.03
Nov 07, 2019 $13.30 $0.03
Nov 06, 2019 $13.27 -$0.01
Nov 05, 2019 $13.28 $0.00
Nov 04, 2019 $13.28 $0.08
 

Distribution History10

Ex-Date Distribution Reinvest NAV
Sep 19, 2019 $0.08040 $12.99
Jun 19, 2019 $0.06490 $12.87
Mar 19, 2019 $0.08330 $12.77
Dec 19, 2018 $0.09010 $11.60
Sep 19, 2018 $0.08360 $13.68
Jun 19, 2018 $0.09230 $13.20
Mar 20, 2018 $0.03970 $12.91
Dec 14, 2017 $0.07710 $12.90
Sep 19, 2017 $0.08960 $12.42
Jun 20, 2017 $0.07330 $12.19
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
 

Capital Gain History10

Ex-Date Short-Term Long-Term Reinvest NAV
Aug 08, 2019 $0.00730 $12.79
Dec 19, 2018 $0.09560 $0.17150 $11.60
Aug 09, 2018 $0.00900 $0.03990 $13.47
Dec 14, 2017 $0.06690 $0.07030 $12.90
Dec 15, 2016 $0.05030 $11.81
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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. 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 (%)7 as of Sep 30, 2019

Portfolio Statistics as of Sep 30, 2019

Median Market Cap $21.9B
Price/Earnings Ratio 17.34
Number of Holdings 180
Price/Book Ratio 2.37
 

GICS Sector Breakdown (%)7 as of Sep 30, 2019

 

Fund Holdings (%)7,11 as of Sep 30, 2019

Holding % of Net Assets
Intel Corp 0.62%
Medtronic PLC 0.61%
Packaging Corp of America 0.61%
Evergy Inc 0.61%
MDU Resources Group Inc 0.61%
NextEra Energy Inc 0.60%
Everest Re Group Ltd 0.60%
Procter & Gamble Co 0.60%
Hanover Insurance Group Inc 0.60%
Amgen Inc 0.59%
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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. 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

Thomas Seto

Thomas Seto

Head of Investment Management
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 1998

Biography

Thomas Seto is head of investment management with Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. Tom is responsible for all portfolio management and trading at the Seattle Investment Center, and is a member of the executive committee. He joined Parametric in 1998.

Tom began his career in the investment management industry in 1991. Before joining Parametric, he served as the head of U.S. equity index investments at Barclays Global Investors.

Tom earned a B.S. in electrical engineering from the University of Washington and an MBA from the University of Chicago Booth School of Business.

Education
  • B.S. University of Washington
  • M.B.A Booth School of Business, University of Chicago

Experience
  • Managed Fund since inception

 
Alexander Paulsen

Alexander Paulsen

Director - Investment Strategy
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2012

Biography

Alexander Paulsen is director of research for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He is responsible for overseeing the firm's investment strategies, and directs the research efforts that support existing strategies and form the foundation for new strategies. In addition, he holds investment responsibilities as a portfolio manager. He joined Parametric in 2012.

Alex began his career in the investment management industry in 2008. He was previously affiliated with Blackrock.

Alex earned a B.S. from the University of Washington and an MSc from London School of Economics and Political Science.

Education
  • B.S. University of Washington
  • MSc London School of Economics and Political Science

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2019

Annual Report

Download - Last updated: Feb 28, 2019

Full Prospectus

Download - Last updated: Jul 1, 2019

Holdings-1st or 3rd fiscal quarters-www.sec.gov (beginning 3/31/2019)

Download

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

Download

SAI

Download - Last updated: Jul 1, 2019

Semi-Annual Report

Download - Last updated: Aug 31, 2019

Summary Prospectus

Download - Last updated: Jul 1, 2019

Estimated spillback distributions

Download - Last updated: Jul 31, 2019

XBRL

Download - Last updated: Jul 10, 2019