Overview

The Parametric Approach

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
01/31/2017
Fund at NAV 0.85 7.84 0.85 23.65 10.40
NASDAQ U.S. Dividend Achievers™ Select Index3 1.84 6.02 1.84 16.67 9.05 11.58 7.90
S&P 500 Index4 1.90 7.76 1.90 20.04 10.84 14.07 9.79
12/31/2016
Fund at NAV 2.06 4.76 19.33 19.33 10.40
NASDAQ U.S. Dividend Achievers™ Select Index3 1.09 2.09 11.93 11.93 6.54 11.74 7.45
S&P 500 Index4 1.98 3.82 11.96 11.96 8.86 14.64 9.37
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 Factsas of Jan 31, 2017

Investor Class Inception 03/26/2014
Investment Objective Current income and total return
Total Net Assets $14.2M
Minimum Investment $1000
Expense Ratio (Gross)5 3.82%
Expense Ratio (Net)5,6 0.65%
CUSIP 27826A821

Top 10 Holdings (%)7,8as of Dec 31, 2016

Halliburton Company
Cogent Communications Holdings Inc.
Travelers Companies Inc.
AT&T Inc.
Chevron Corporation
Teleflex Incorporated
Oceaneering International Inc.
Covanta Holding Corporation
Vector Group Ltd.
Eli Lilly and Company
Total 6.08

Portfolio Management

Thomas Seto Managed Fund since 2014
Timothy W. Atwill, Ph.D., CFA Managed Fund since 2014
Alexander Paulsen Managed Fund since 2016

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund performance is sensitive to stock market volatility. 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 Dec 31, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
01/31/2017
Fund at NAV 0.85 7.84 0.85 23.65 10.40
NASDAQ U.S. Dividend Achievers™ Select Index3 1.84 6.02 1.84 16.67 9.05 11.58 7.90
S&P 500 Index4 1.90 7.76 1.90 20.04 10.84 14.07 9.79
Morningstar™ Large Value Category9 0.92 8.94 0.92 22.32 8.50 12.27
12/31/2016
Fund at NAV 2.06 4.76 19.33 19.33 10.40
NASDAQ U.S. Dividend Achievers™ Select Index3 1.09 2.09 11.93 11.93 6.54 11.74 7.45
S&P 500 Index4 1.98 3.82 11.96 11.96 8.86 14.64 9.37
Morningstar™ Large Value Category9 2.09 6.34 14.81 14.81 6.84 12.97
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 (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV -0.68 19.33
NASDAQ U.S. Dividend Achievers™ Select Index3 5.81 -26.41 19.59 14.87 6.32 11.73 29.03 10.12 -1.88 11.93
S&P 500 Index4 5.49 -37.00 26.46 15.06 2.11 16.00 32.39 13.69 1.38 11.96

Fund Facts

Expense Ratio (Gross)5 3.82%
Expense Ratio (Net)5,6 0.65%
Investor Class Inception 03/26/2014
Distribution Frequency Quarterly

NAV History

Date NAV NAV Change
Feb 21, 2017 $12.17 $0.08
Feb 17, 2017 $12.09 $0.00
Feb 16, 2017 $12.09 $0.01
Feb 15, 2017 $12.08 $0.04
Feb 14, 2017 $12.04 $0.01
Feb 13, 2017 $12.03
Feb 10, 2017 $11.98 $0.06
Feb 09, 2017 $11.92 $0.05
Feb 08, 2017 $11.87 $0.02
Feb 07, 2017 $11.85 -$0.01

Distribution History10

Ex-Date Distribution Reinvest NAV
Dec 15, 2016 $0.05930 $11.81
Sep 20, 2016 $0.06600 $11.17
Jun 21, 2016 $0.06160 $11.05
Mar 21, 2016 $0.06170 $10.73
Dec 17, 2015 $0.06730 $10.05
Sep 21, 2015 $0.06270 $10.04
Jun 19, 2015 $0.11530 $10.69
Mar 19, 2015 $0.05570 $10.74
Dec 19, 2014 $0.07530 $10.66
Sep 19, 2014 $0.06450 $10.62
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
Dec 15, 2016 $0.05030 $11.81
Dec 17, 2015 $0.07550 $0.09160 $10.05
Dec 19, 2014 $0.24610 $10.66
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 

Fund performance is sensitive to stock market volatility. 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 (%)8as of Dec 31, 2016

U.S. Common Stocks 99.31
Cash & Equivalents 0.69
Total 100.00

Portfolio Statisticsas of Dec 31, 2016

Median Market Cap $22.2B
Price/Earnings Ratio 19.64
Price/Book Ratio 2.73
Number of Holdings 179

GICS Sector Breakdown (%)8as of Dec 31, 2016

Sector Fund NASDAQ U.S. Dividend Achievers™ Select Index3
Consumer Discretionary 10.99 11.82
Consumer Staples 10.48 23.51
Energy 11.51 1.38
Financials 11.12 8.53
Health Care 11.11 11.92
Industrials 11.14 21.75
Information Technology 8.71 11.68
Real Estate 0.00 0.00
Materials 10.92 6.48
Telecom Services 2.32 0.10
Utilities 11.00 2.84
Cash 0.69 0.00

Fund Holdings (%)8,11as of Dec 31, 2016

Holding % of Net Assets
EV Cash Reserves Fund LLC 3.09%
Halliburton Co 0.61%
Cogent Communications Holdings Inc 0.61%
Travelers Cos Inc 0.61%
AT&T Inc 0.61%
Chevron Corp 0.61%
Teleflex Inc 0.61%
Oceaneering International Inc 0.61%
Covanta Holding Corp 0.61%
Vector Group Ltd 0.60%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund performance is sensitive to stock market volatility. 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.


Insights & Analysis

Commentary

No commentary information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund performance is sensitive to stock market volatility. 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.

Attribution

No attribution information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund performance is sensitive to stock market volatility. 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

Biography
Thomas Seto

Thomas Seto

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

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 2014

Biography
Timothy W. Atwill, Ph.D., CFA

Timothy W. Atwill, Ph.D., CFA

Head of Investment Strategy
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2010

Tim Atwill is head of investment strategy with Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He leads Parametric's investment strategy team and is responsible for managing the continued evolution of Parametric's investment strategies and communicating these strategies to external audiences.

Before joining Parametric, Tim was affiliated with Russell Investments in its manager research unit, performing due diligence duties for the firm's consulting clients, and in its trading group, implementing derivative strategies for institutional clients. Previously, he was a non-life actuary and portfolio manager at Safeco Insurance Company.

Tim earned a B.A. in Mathematics from Reed College and a Ph.D. in mathematics from Dartmouth College. He holds the FCAS designation from the Casualty Actuarial Society and is a CFA charterholder.

Education
  • B.A. Reed College
  • Ph.D. Dartmouth College

Experience
  • Managed Fund since 2014

Biography

Alexander Paulsen

Senior Investment Strategist
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2012

Alexander Paulsen is a senior investment strategist for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He is responsible for the research, creation and evolution of Parametric's dividend equity and closed-end fund strategies. 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: Dec 31, 2016

Annual Report

Download - Last updated: Feb 29, 2016

Full Prospectus

Download - Last updated: Jul 1, 2016

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

Download

SAI

Download - Last updated: Jul 1, 2016

Semi-Annual Report

Download - Last updated: Aug 31, 2016

Summary Prospectus

Download - Last updated: Nov 1, 2016

XBRL

Download - Last updated: Jul 11, 2016