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 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 Rates1,2

as of Oct 22, 2019
Distribution Rate at NAV 7.14%
Distribution Rate at Market Price 7.07%
 

Fund Facts

Performance Inception 09/30/2003
Investment Objective High level of after-tax total return
CUSIP 27828G107

Expense Ratios (%)3

as of Annual Report dated 10/31/2018
Management Fees 1.07
Other Expenses 0.07
Total Expenses (ex Interest and Fee Expense) 1.14
Interest and Fee Expense 0.74
Total Expenses 1.88
 

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 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. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. . 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. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. Borrowing to increase investments ("leverage") may exaggerate the effect of any increase or decrease in the value of Fund investments. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques maybe curtailed or eliminated in the future by tax legislation or regulation. The Fund may engage in other investment practices that may involve additional risks.


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 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 (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Fund at NAV 34.08 14.84 1.12 18.80 22.88 13.85 1.67 12.15 17.86 -7.70
Market Price 50.33 13.82 -4.36 22.05 22.83 17.66 -0.01 16.71 21.70 -11.90
 

Fund Facts

Performance Inception 09/30/2003
 

Distribution Rates1,2

as of Oct 22, 2019
Distribution Rate at NAV 7.14%
Distribution Rate at Market Price 7.07%
 

Distribution History4,5

Ex-Date Distribution Reinvest Price
Sep 20, 2019 $0.14500 $24.04
Aug 22, 2019 $0.14500 $23.50
Jul 23, 2019 $0.14500 $24.09
Jun 20, 2019 $0.14500 $23.78
May 23, 2019 $0.14500 $22.62
Apr 22, 2019 $0.14500 $23.90
Mar 20, 2019 $0.14500 $22.60
Feb 20, 2019 $0.14500 $21.92
Jan 23, 2019 $0.14500 $21.24
Dec 21, 2018 $0.14500 $19.55
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

Ordinary Dividends    
Non-Qualified Qualified Total Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2018 $0.00 $0.47 $0.47 $1.27 $0.00 $1.74
2017 $0.00 $0.72 $0.72 $0.88 $0.00 $1.60
2016 $0.00 $0.75 $0.75 $1.14 $0.00 $1.89
2015 $0.00 $0.85 $0.85 $0.60 $0.00 $1.45
2014 $0.00 $1.47 $1.47 $0.00 $0.00 $1.47
2013 $0.00 $1.18 $1.18 $0.00 $0.00 $1.18
2012 $0.00 $1.29 $1.29 $0.00 $0.00 $1.29
2011 $0.00 $1.29 $1.29 $0.00 $0.00 $1.29
2010 $0.00 $1.29 $1.29 $0.00 $0.00 $1.29
2009 $0.00 $1.29 $1.29 $0.00 $0.00 $1.29
2008 $0.00 $1.78 $1.78 $0.00 $0.00 $1.78
2007 $0.00 $1.83 $1.83 $0.00 $0.00 $1.83
2006 $0.00 $1.56 $1.56 $0.00 $0.00 $1.56
2005 $0.00 $1.35 $1.35 $0.00 $0.00 $1.35
Distributions (%)
2018 0.00% 27.00% 27.00% 73.00% 0.00% 100.00%
2017 0.00% 45.03% 45.03% 54.97% 0.00% 100.00%
2016 0.00% 39.50% 39.50% 60.50% 0.00% 100.00%
2015 0.00% 58.63% 58.63% 41.37% 0.00% 100.00%
2014 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2013 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2012 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2011 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2010 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2009 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2008 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2007 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2006 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%
2005 0.00% 100.00% 100.00% 0.00% 0.00% 100.00%

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 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. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. . 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. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. Borrowing to increase investments ("leverage") may exaggerate the effect of any increase or decrease in the value of Fund investments. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques maybe curtailed or eliminated in the future by tax legislation or regulation. The Fund 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

 

Fund Holdings (%)6,7 as of Aug 31, 2019

Holding % of Net Assets
JPMorgan Chase & Co 4.19%
Procter & Gamble Co 3.43%
Verizon Communications Inc 3.33%
NextEra Energy Inc 2.81%
Walt Disney Co 2.78%
First Trust Preferred Securities and Income ETF 2.72%
Bank of America Corp 2.54%
Exxon Mobil Corp 2.36%
Mondelez International Inc 1.99%
PNC Financial Services Group Inc 1.87%
View All

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 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. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. . 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. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. Borrowing to increase investments ("leverage") may exaggerate the effect of any increase or decrease in the value of Fund investments. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques maybe curtailed or eliminated in the future by tax legislation or regulation. The Fund 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

Michael A. Allison, CFA

Michael A. Allison, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Biography

Michael Allison is a vice president of Eaton Vance Management, a director of equity strategy implementation and a structured equity portfolio manager on a number of Eaton Vance’s global and domestic equity income and tax-managed equity portfolios. On those funds, he is responsible for portfolio construction, tax oversight and risk management. He is a member of the firm’s Equity Strategy Committee. He joined Eaton Vance in 2000.

Mike began his career in the investment management industry in 1988. Before joining Eaton Vance, Mike was an equity analyst for Schroder Investment Management North America Inc. He was also affiliated with Fleet Investment Advisors and Phoenix Home Life Mutual Fund Insurance Co.

Mike earned a B.S.B.A. from the University of Denver. He is a member of the CFA Society of Boston and is a CFA charterholder.

Education
  • B.S.B.A., The University of Denver

Experience
  • Managed Fund since 2013

 
John H. Croft, CFA

John H. Croft, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2004

Biography

John Croft is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s investment grade fixed-income (IGFI) portfolio management and trading team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's IGFI strategies. He joined Eaton Vance in 2004.

John began his career in the investment management industry in 1986. Before joining Eaton Vance, he was a credit analyst with Fidelity Management & Research Co.

John earned a B.A. from Colgate University and an MBA from the University of Chicago Graduate School of Business. He is a CFA charterholder.

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

Experience
  • Managed Fund since 2010

 
Edward J. Perkin, CFA

Edward J. Perkin, CFA

Vice President, Chief Equity Investment Officer
Eaton Vance Management
Joined Eaton Vance 2014

Biography

Eddie Perkin is a vice president of Eaton Vance Management and chief equity investment officer. He is responsible for all equity disciplines at Eaton Vance. Additionally, he serves as lead portfolio manager of Eaton Vance's large-cap value strategy and is responsible for buy and sell decisions, portfolio construction and risk management for the firm's large-cap value equity portfolios. He is head of the firm's Equity Strategy Committee and a member of the Eaton Vance Management Committee. He joined Eaton Vance in 2014.

Eddie began his career in the finance industry in 1993. Before joining Eaton Vance, he served as chief investment officer (international and emerging-market equity) as well as managing director/portfolio manager (Europe, EAFE and Global) at Goldman Sachs Asset Management (GSAM) in London. Before relocating to London in 2008, Eddie was a portfolio manager and analyst on GSAM's U.S. value equity team in New York. Eddie was previously associated with FISERV and American Retirement Insurance Services.

Eddie earned a B.A. from the University of California, Santa Barbara, and an MBA from Columbia Business School. He is a CFA charterholder and is a member of the board of directors of Junior Achievement of Northern New England.

Education
  • B.A. University of California, Santa Barbara
  • M.B.A. Columbia University

Experience
  • Managed Fund since 2014

 
Aaron Dunn, CFA

Aaron Dunn, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

Biography

Aaron Dunn is a vice president of Eaton Vance Management, co-director of value equity on Eaton Vance's value team, where he also serves as a portfolio manager. He is responsible for buy and sell decisions, portfolio construction and risk management, as well as coverage of the energy sector. He is a member of the firm's Equity Strategy Committee. He joined Eaton Vance in 2012.

Aaron began his career in the investment management industry in 2000. Before joining Eaton Vance, Aaron was a senior equity analyst for Pioneer Global Asset Management. He was previously affiliated with Invesco and U.S. Global Investors.

Aaron earned a B.S. from the University of Arkansas and an MBA from The University of Texas at Austin McCombs School of Business. He is a member of the CFA Society of Boston and a CFA charterholder.

Education
  • B.S. University of Arkansas
  • M.B.A. University of Texas at Austin

Experience
  • Managed Fund since 2017

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2019

Commentary

Download - Last updated: Jun 30, 2019

Annual Report

Download - Last updated: Oct 31, 2018

Equity Dividend Income Closed-End Fund Guide

Download - Last updated: Jun 30, 2019

Full Prospectus

Download - Last updated: Jul 31, 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

Return of Capital Distributions Demystified

Download - Last updated: Dec 1, 2017

Auction Preferred Shares Market Update

Download - Last updated: Oct 1, 2019

Eaton Vance Closed-End Funds Adopt Share Repurchase Programs

Download - Last updated: Nov 15, 2013

EVT-ETG-ETO Announce Change in Investment Policies

Download - Last updated: Aug 7, 2012

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

Download - Last updated: Oct 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Sep 30, 2019

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

Download - Last updated: Sep 3, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Aug 30, 2019

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

Download - Last updated: Aug 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jul 31, 2019

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

Download - Last updated: Jul 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution 

Download - Last updated: Jun 28, 2019

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

Download - Last updated: Jun 3, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution

Download - Last updated: May 31, 2019

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

Download - Last updated: May 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution 

Download - Last updated: Apr 30, 2019

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

Download - Last updated: Apr 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution

Download - Last updated: Mar 29, 2019

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

Download - Last updated: Mar 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Feb 28, 2019

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

Download - Last updated: Feb 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jan 31, 2019

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

Download - Last updated: Jan 2, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Dec 31, 2018

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

Download - Last updated: Dec 3, 2018

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Nov 30, 2018

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

Download - Last updated: Nov 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Oct 31, 2018

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

Download - Last updated: Oct 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution

Download - Last updated: Sep 28, 2018

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

Download - Last updated: Sep 4, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Aug 31, 2018

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

Download - Last updated: Aug 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jul 31, 2018

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

Download - Last updated: Jul 2, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jun 29, 2018

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

Download - Last updated: Jun 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: May 31, 2018

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

Download - Last updated: May 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Apr 30, 2018

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

Download - Last updated: Apr 2, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Mar 29, 2018

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

Download - Last updated: Mar 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Feb 28, 2018

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

Download - Last updated: Feb 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jan 31, 2018

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

Download - Last updated: Jan 2, 2018

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Dec 29, 2017

Eaton Vance Management Announces Portfolio Managers of Eaton Vance Tax-Advantaged Dividend Income Fund

Download - Last updated: Dec 5, 2017

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

Download - Last updated: Dec 1, 2017

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Nov 30, 2017

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

Download - Last updated: Nov 1, 2017

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Oct 31, 2017

Eaton Vance Tax-Advantaged Dividend Income Funds Announce Changes In Investment Policies

Download - Last updated: Oct 23, 2015

SAI

Download - Last updated: Jul 31, 2019

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: Apr 30, 2019