Overview

Historical Returns (%)as of Jun 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
08/31/2016
Fund at NAV 0.70 3.25 5.13 8.98 8.71 11.83 7.78
Market Price 2.13 2.49 3.53 9.61 12.82 15.62 8.30
06/30/2016
Fund at NAV 1.03 3.06 2.87 3.13 8.17 9.59 7.80
Market Price 0.82 2.56 1.85 14.42 12.95 12.88 8.83
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.

The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. Click here for more information.

Distribution Rates1

as of Sep 28, 2016
Distribution Rate at NAV 8.42%
Distribution Rate at Market Price 7.82%

Fund Factsas of Aug 31, 2016

Performance Inception 04/29/2005
Investment Objective Current income and gains
CUSIP 27828x100

Portfolio Management

Michael A. Allison, CFA Managed Fund since 2015
Thomas Seto Managed Fund since inception

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 Jun 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
08/31/2016
Fund at NAV 0.70 3.25 5.13 8.98 8.71 11.83 7.78
Market Price 2.13 2.49 3.53 9.61 12.82 15.62 8.30
06/30/2016
Fund at NAV 1.03 3.06 2.87 3.13 8.17 9.59 7.80
Market Price 0.82 2.56 1.85 14.42 12.95 12.88 8.83
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.

The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. Click here for more information.

Calendar Year Returns (%)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fund at NAV 14.88 6.62 -22.44 30.53 8.82 7.78 11.25 19.05 8.94 3.21
Market Price 27.43 -9.43 -19.29 53.69 -3.47 -1.74 19.85 15.85 15.90 13.92

Fund Facts

Performance Inception 04/29/2005

Distribution Rates1

as of Sep 28, 2016
Distribution Rate at NAV 8.42%
Distribution Rate at Market Price 7.82%

Distribution History2,3

Ex-Date Distribution Reinvest Price
Sep 21, 2016 $0.10800 $15.34
Aug 22, 2016 $0.10800 $15.51
Jul 20, 2016 $0.10800 $15.41
Jun 21, 2016 $0.10800 $15.48
May 20, 2016 $0.10800 $15.47
Apr 20, 2016 $0.10800 $15.26
Mar 22, 2016 $0.10800 $15.41
Feb 18, 2016 $0.10800 $14.74
Jan 20, 2016 $0.10800 $14.68
Dec 21, 2015 $0.10800 $15.99
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 ($)
2015 $0.00 $0.19 $0.19 $0.37 $0.74 $1.30
2014 $0.00 $0.17 $0.17 $0.00 $1.13 $1.30
2013 $0.00 $0.18 $0.18 $0.00 $1.12 $1.30
2012 $0.00 $0.20 $0.20 $0.00 $1.10 $1.30
2011 $0.00 $0.24 $0.24 $0.07 $0.99 $1.30
2010 $0.00 $0.18 $0.18 $0.04 $1.58 $1.80
2009 $0.00 $0.30 $0.30 $0.00 $1.50 $1.80
2008 $0.00 $0.28 $0.28 $0.48 $1.04 $1.80
2007 $0.02 $0.43 $0.45 $0.47 $0.88 $1.80
2006 $0.00 $0.29 $0.29 $0.01 $1.50 $1.80
2005 $0.00 $0.20 $0.20 $0.08 $0.62 $0.90
Distributions (%)
2015 0.00% 14.62% 14.62% 28.38% 57.00% 100.00%
2014 0.00% 12.70% 12.70% 0.00% 87.30% 100.00%
2013 0.00% 13.94% 13.94% 0.00% 86.06% 100.00%
2012 0.00% 15.57% 15.57% 0.00% 84.43% 100.00%
2011 0.00% 18.43% 18.43% 5.51% 76.06% 100.00%
2010 0.00% 10.19% 10.19% 2.22% 87.59% 100.00%
2009 0.00% 16.68% 16.68% 0.00% 83.32% 100.00%
2008 0.00% 15.56% 15.56% 26.53% 57.91% 100.00%
2007 1.05% 24.06% 25.11% 26.08% 48.81% 100.00%
2006 0.00% 16.39% 16.39% 0.54% 83.07% 100.00%
2005 0.00% 22.47% 22.47% 8.27% 69.26% 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. Non-qualified ordinary dividends are subject to federal income tax at ordinary rates. Qualified dividends and capital gains distributions are taxable at long-term capital gains 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 Fund has adopted a policy to pay common shareholders a stable monthly distribution. In an effort to maintain a stable distribution amount, the Fund may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. In recent years, a significant portion of the Fund's distributions has been characterized as a return of capital. Click here for more information.

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 Holdings (%)4,5as of Jul 31, 2016

Holding % of Net Assets
Apple Inc 3.81%
Microsoft Corp 2.88%
Wells Fargo & Co 1.85%
Johnson & Johnson 1.69%
Chevron Corp 1.67%
Home Depot Inc 1.66%
Alphabet Inc - CL A 1.65%
Coca-Cola Co 1.57%
Philip Morris International Inc 1.53%
Alphabet Inc - CL C 1.52%
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.


Insights & Analysis

Commentary

No commentary information is currently available.

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.

Attribution

No attribution information is currently available.


Management

Biography
Michael A. Allison, CFA

Michael A. Allison, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Michael Allison is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s global core team. He is responsible for buy and sell decisions, portfolio construction and risk management for a number of the firm’s global core equity strategies. 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 Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.S.B.A., The University of Denver
Experience
  • Managed Fund since 2015
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 for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He is responsible for all portfolio management and trading activity at Parametric's Seattle Investment Center, including tax-managed core, CPM and institutional equity strategies. He joined Parametric in 1998.

Tom began his career in the investment management industry in 1991. Before joining Parametric, he was 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's 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

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2016

Commentary

Download - Last updated: Jun 30, 2016

Report of Organizational Actions Affecting Basis of Securities

Download - Last updated: Dec 31, 2012

Annual Report

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Important Quarterly Equity Option Fund Data

Download - Last updated: Jun 30, 2016

Equity Option Closed-End Fund Guide

Download - Last updated: Jun 30, 2016

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

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Reinvesting Closed-End Fund Distributions

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Return of Capital Distributions Demystified

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Morningstar ETB Fact Sheet

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Eaton Vance Announces Upcoming Retirement of Walter A. Row III

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Eaton Vance Updates Results of Equity Option CEF Share Repurchase Program

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Eaton Vance Announces Updated Results of Equity Option Closed-End Fund Share Repurchase Program

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Eaton Vance Announces Results of Equity Option Closed-End Fund Share Repurchase Program

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Eaton Vance Announces Results of Equity Option Closed-End Fund Share Repurchase Program

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Eaton Vance Equity Option CEFs Adopt Share Repurchase Program

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

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Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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Eaton Vance Closed-End Funds Annual Meeting of Shareholders

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

Download - Last updated: Sep 1, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

Download - Last updated: Aug 3, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

Download - Last updated: Jul 1, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Jun 30, 2015

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

Download - Last updated: Jun 1, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: May 29, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: May 12, 2015

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

Download - Last updated: May 1, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Jan 30, 2015

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

Download - Last updated: Jan 13, 2015

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Dec 31, 2014

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

Download - Last updated: Dec 12, 2014

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

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

Download - Last updated: Oct 14, 2014

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Sep 30, 2014

Section 16 Filings - www.sec.gov

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Semi-Annual Report

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