Overview

Historical Returns (%) as of Sep 30, 2021

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 Sep 30, 2021

Investor Class Inception 06/30/2006
Investment Objective Long-term capital appreciation
Total Net Assets $345.0M
Minimum Investment $1000
Expense Ratio2 1.55%
Adjusted Expense Ratio 1.54%
CUSIP 277923777
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Parametric Funds, if applicable none of which are paid to Parametric.

Top 10 Holdings (%)3,4 as of Sep 30, 2021

TENCENT HOLDINGS LTD 1.03
AHLI UNITED BANK B.S.C 0.80
TAIWAN SEMICONDUCTOR MANUFAC 0.79
SAMSUNG ELECTRONICS CO LTD 0.77
TUPRAS-TURKIYE PETROL RAFINE 0.66
SAUDI ARABIAN OIL CO 0.66
YANDEX NV-A 0.61
AMERICA MOVIL SAB DE C-SER L 0.60
DELTA ELECTRONICS THAI-FORGN 0.56
ALIBABA GROUP HOLDING-SP ADR 0.52
Total 7.01
 

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. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. 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. The sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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, 2021

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 (%)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fund at NAV -19.27 19.28 0.73 -4.06 -16.64 12.02 27.01 -14.02 12.31 2.64
MSCI Emerging Markets Index1 -18.42 18.22 -2.60 -2.19 -14.92 11.19 37.28 -14.57 18.42 18.31
 

Fund Facts

Expense Ratio2 1.55%
Adjusted Expense Ratio 1.54%
Investor Class Inception 06/30/2006
Distribution Frequency Annually
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Parametric Funds, if applicable none of which are paid to Parametric.

Risk Measures (3 Year)6 as of Sep 30, 2021

Alpha (%) -2.95
Beta 0.96
R-Squared (%) 86.70
Standard Deviation (%) 19.93
Sharpe Ratio 0.18
 

Morningstar Rating™ as of Sep 30, 2021

Time Period Rating Funds in
Diversified Emerging Mkts
Category
Overall 708
3 Years 708
5 Years 598
10 Years 317
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.

©2021 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
Oct 22, 2021 $15.88 -$0.02
Oct 21, 2021 $15.90 -$0.12
Oct 20, 2021 $16.02 $0.03
Oct 19, 2021 $15.99 $0.07
Oct 18, 2021 $15.92 $0.01
Oct 15, 2021 $15.91 $0.08
Oct 14, 2021 $15.83 $0.08
Oct 13, 2021 $15.75 $0.09
Oct 12, 2021 $15.66 $0.02
Oct 11, 2021 $15.64 -$0.04
 

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 29, 2020 $0.13740 $14.61
Aug 18, 2020 $0.02130 $12.74
Dec 27, 2019 $0.36000 $14.51
Dec 27, 2018 $0.27960 $13.14
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 History7

Ex-Date Short-Term Long-Term Reinvest NAV
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. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. 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. The sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 (%)4 as of Sep 30, 2021

Foreign Common Stocks 99.31
Cash & Other Assets 0.69
Total 100.00

Portfolio Statistics as of Sep 30, 2021

Median Market Cap 4.12
Price/Earnings Ratio 13.37
Number of Holdings 1,161
Price/Book Ratio 1.54
Countries Represented 48
 

GICS Sector Breakdown (%)4 as of Sep 30, 2021

Assets by Country (%)4 as of Sep 30, 2021

China 18.03
Mexico 4.68
Korea 4.29
Thailand 4.77
South Africa 4.96
Saudi Arabia 5.11
India 5.04
Taiwan 4.65
Russia 4.96
Turkey 4.77
View All
 

Geographic Mix (%)4 as of Sep 30, 2021

Asia/Pacific 47.38
Latin America 14.27
Eastern Europe 16.06
Africa 9.49
Middle East 11.66
Europe except U.K. 1.14
 

Fund Holdings (%)4,8 as of Aug 31, 2021

Holding % of Net Assets
Tencent Holdings Ltd 1.04%
Taiwan Semiconductor Manufacturing Co Ltd 0.80%
Samsung Electronics Co Ltd 0.78%
America Movil SAB de CV 0.76%
Ahli United Bank BSC 0.72%
Delta Electronics Thailand PCL 0.71%
Yandex NV 0.66%
Alibaba Group Holding Ltd 0.57%
Saudi Arabian Oil Co 0.56%
MercadoLibre Inc 0.52%
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. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. 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. The sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 C. Seto

Thomas C. 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 2007

 
Paul Bouchey, CFA

Paul Bouchey, CFA

Global Head of Research
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2006

Biography

Paul Bouchey is chief investment officer of Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. Paul Bouchey leads Parametric's Investment, Research and Strategy activities. He is responsible for setting the overall research agenda and new product development. He joined Parametric in 2006.

Paul began his career in the investment management industry in 1994. Before joining Parametric, Paul was a senior researcher at Russell Investment Group, where he focused on simulation, optimization and quantitative decision models for institutional and private clients.

Paul earned a B.A. in mathematics and physics from Whitman College and an M.S. in computational finance and risk management from the University of Washington. He holds a patent on cross-sectional volatility indexing and has authored more than 10 academic and practitioner articles in journals such as The Journal of Portfolio Management, The Journal of Wealth Management and The Journal of Index Investing. He is a CFA charterholder.

Education
  • B.A. Whitman College
  • M.S. University of Washington

Experience
  • Managed Fund since 2019

 
Jennifer Sireklove, CFA

Jennifer Sireklove, CFA

Managing Director, Investment Strategy
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2013

Biography

Jennifer Sireklove is managing director, investment strategy for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. She leads the investment strategy team, which is responsible for all aspects of Parametric's equity-based investment strategies. In addition, she has direct investment responsibility for Parametric's emerging-market and international strategies, and chairs Parametric's Stewardship Committee. She joined Parametric in 2013.

Jennifer began her career in the investment management industry in 2003. Previously at Parametric, she helped build the firm's active ownership and custom ESG portfolio construction practices. Before joining Parametric, she worked in equity research, primarily covering the energy, utility and industrial sectors at firms including D.A. Davidson and McAdams Wright Ragen.

Jennifer earned a B.A. in economics from Reed College and an MBA in finance and accounting from the University of Chicago. She is a CFA charterholder and a member of the CFA Society Seattle.

Education
  • B.A. Reed College
  • MBA University of Chicago

Experience
  • Managed Fund since 2019

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Sep 30, 2021

Commentary

Download Commentary - Last updated: Jun 30, 2021

Attribution

Download Attribution - Last updated: Sep 30, 2021

Monthly Update

Download Monthly Update - Last updated: Aug 31, 2021

Annual Report

Download Annual Report - Last updated: Jan 31, 2021

Full Prospectus

Download Full Prospectus - Last updated: Jun 1, 2021

Q1 Holdings

Download Q1 Holdings - Last updated: Apr 30, 2021

Q3 Holdings

Download Q3 Holdings - Last updated: Oct 31, 2020

Holdings - Form N-PORT

Download Holdings - Form N-PORT

SAI

Download SAI - Last updated: Jun 1, 2021

Semi-Annual Report

Download Semi-Annual Report - Last updated: Jul 31, 2021

Summary Prospectus

Download Summary Prospectus - Last updated: Jun 1, 2021