Overview

Growth of $10,000

10-year period ended 09/30/2016

  • Class A at NAV

Historical Returns (%)as of Sep 30, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
11/30/2016
Fund at NAV 8.37 6.37 15.84 9.86 5.97 11.72 7.74
Fund w/Max Sales Charge 2.13 0.24 9.16 3.53 3.90 10.40 7.10
Return After Taxes on Dist w/Max Sales Charge 2.25 3.32 10.03 6.93
Return After Taxes on Dist & Sales of Fund Shares w/Max Sales Charge 2.82 2.91 8.21 5.74
Russell 2000® Index1 11.15 7.05 18.00 12.08 6.45 13.96 6.80
09/30/2016
Fund at NAV -0.17 4.80 8.72 7.80 5.55 13.43 8.10
Fund w/Max Sales Charge -5.93 -1.24 2.45 1.60 3.49 12.10 7.46
Return After Taxes on Dist w/Max Sales Charge 0.36 2.91 11.72 7.28
Return After Taxes on Dist & Sales of Fund Shares w/Max Sales Charge 1.81 2.63 9.64 6.05
Russell 2000® Index1 1.11 9.05 11.46 15.47 6.70 15.80 7.07
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. After-tax returns are calculated using certain assumptions, including using the highest historical individual federal income tax rates, and do not reflect the impact of state/local taxes. Actual after-tax returns depend on a shareholder's tax situation and the actual characterization of distributions and may differ from those shown. After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or shares held by nontaxable entities. Return After Taxes on Distributions may be the same as Return Before Taxes for the same period because no taxable distributions were made during that period. Return After Taxes on Distributions and Sale of Fund Shares may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares. Before-tax and after-tax returns for other classes of shares offered by the Fund are different. Max Sales Charge: 5.75%.

Fund Factsas of Oct 31, 2016

Class A Inception 09/25/1997
Investment Objective Long-term, after-tax return
Total Net Assets $100.0M
Minimum Investment $1000
Expense Ratio2 1.19%
CUSIP 277911814

Top 10 Holdings (%)3,4as of Sep 30, 2016

Balchem Corp
ICU Medical Inc
Pinnacle Foods Inc
Cirrus Logic Inc
Kirby Corp
RBC Bearings Inc
Euronet Worldwide Inc
First American Financial Corp
Hexcel Corp
Essent Group Ltd
Total 25.59

Portfolio Management

J. Griffith Noble, CFA Managed Fund since 2015
Michael D. McLean, CFA Managed Fund since 2015

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. 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 may be curtailed or eliminated in the future by tax legislation or regulation. 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, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
10/31/2016
Fund at NAV -1.68 -0.51 6.89 2.90 4.00 10.39 7.22
Fund w/Max Sales Charge -7.32 -6.25 0.73 -3.01 1.97 9.09 6.59
Return After Taxes on Dist w/Max Sales Charge -4.20 1.40 8.72 6.42
Return After Taxes on Dist & Sales of Fund Shares w/Max Sales Charge -0.81 1.49 7.17 5.32
Russell 2000® Index1 -4.75 -1.99 6.16 4.11 4.12 11.50 5.95
Morningstar™ Small Growth Category5 -5.17 -2.91 1.98 0.35 2.60 10.24 6.51
09/30/2016
Fund at NAV -0.17 4.80 8.72 7.80 5.55 13.43 8.10
Fund w/Max Sales Charge -5.93 -1.24 2.45 1.60 3.49 12.10 7.46
Return After Taxes on Dist w/Max Sales Charge 0.36 2.91 11.72 7.28
Return After Taxes on Dist & Sales of Fund Shares w/Max Sales Charge 1.81 2.63 9.64 6.05
Russell 2000® Index1 1.11 9.05 11.46 15.47 6.70 15.80 7.07
Morningstar™ Small Growth Category5 1.10 8.22 7.39 10.47 5.09 14.42 7.56
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. After-tax returns are calculated using certain assumptions, including using the highest historical individual federal income tax rates, and do not reflect the impact of state/local taxes. Actual after-tax returns depend on a shareholder's tax situation and the actual characterization of distributions and may differ from those shown. After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or shares held by nontaxable entities. Return After Taxes on Distributions may be the same as Return Before Taxes for the same period because no taxable distributions were made during that period. Return After Taxes on Distributions and Sale of Fund Shares may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares. Before-tax and after-tax returns for other classes of shares offered by the Fund are different. Max Sales Charge: 5.75%.

Calendar Year Returns (%)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fund at NAV 15.94 22.42 -39.89 38.75 25.48 -5.55 11.94 35.70 3.07 -2.93
Russell 2000® Index1 18.37 -1.57 -33.79 27.17 26.85 -4.18 16.35 38.82 4.89 -4.41

Fund Facts

Expense Ratio2 1.19%
Class A Inception 09/25/1997
Distribution Frequency Annually

Risk Measures (3 Year)6as of Nov 30, 2016

Alpha (%) 0.67
Beta 0.80
R-Squared (%) 90.55
Standard Deviation (%) 13.47
Sharpe Ratio 0.43

Morningstar™ Ratingsas of Oct 31, 2016

Time Period Rating Rating (Load Waived) Funds in
Small Growth
Category
Overall *** **** 655
3 Years *** **** 655
5 Years *** *** 591
10 Years *** **** 435
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2016 Morningstar, Inc. 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 is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Dec 02, 2016 $25.28 $0.06
Dec 01, 2016 $25.22 -$0.16
Nov 30, 2016 $25.38 $0.05
Nov 29, 2016 $25.33 -$0.06
Nov 28, 2016 $25.39 -$0.26
Nov 25, 2016 $25.65 $0.09
Nov 23, 2016 $25.56 $0.14
Nov 22, 2016 $25.42 $0.24
Nov 21, 2016 $25.18 $0.15
Nov 18, 2016 $25.03 $0.12

Distribution History7

Ex-Date Distribution Reinvest NAV
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
Dec 23, 2015 $1.20540 $22.15
Dec 23, 2014 $0.45560 $23.95
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. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. 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 may be curtailed or eliminated in the future by tax legislation or regulation. 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 (%)4,8as of Sep 30, 2016

U.S. Common Stocks 97.38
Cash 2.62
Total 100.00

Portfolio Statisticsas of Sep 30, 2016

Average Market Cap $3.4B
Price/Earnings Ratio 20.31
Number of Holdings 64
Price/Book Ratio 2.64

GICS Sector Breakdown (%)4as of Sep 30, 2016

Sector Fund Russell 2000® Index1
Consumer Discretionary 8.47 12.62
Consumer Staples 3.65 2.98
Energy 7.08 3.19
Financials 19.11 17.43
Health Care 13.67 14.16
Industrials 16.37 14.09
Information Technology 17.36 18.06
Materials 5.19 4.69
Real Estate 6.46 8.23
Telecom Services 0.01 0.75
Utilities 0.05 3.80
Cash 2.62 0.00

Fund Holdings (%)4,9as of Sep 30, 2016

Holding % of Net Assets
Balchem Corp 3.19%
ICU Medical Inc 2.84%
Pinnacle Foods Inc 2.74%
EV Cash Reserves Fund 2.63%
Cirrus Logic Inc 2.52%
Kirby Corp 2.51%
RBC Bearings Inc 2.51%
Euronet Worldwide Inc 2.40%
First American Financial Corp 2.37%
Hexcel Corp 2.29%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. 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 may be curtailed or eliminated in the future by tax legislation or regulation. 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. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. 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 may be curtailed or eliminated in the future by tax legislation or regulation. 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. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. 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 may be curtailed or eliminated in the future by tax legislation or regulation. 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

J. Griffith Noble, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

J. Griffith Noble is a vice president of Eaton Vance Management, co-director of U.S. small-cap equity and a portfolio manager on Eaton Vance's small-/midcap team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's small- and midcap equity portfolios, as well as coverage of the energy and industrials sectors. He joined Eaton Vance in 2012.

Griff began his career in the investment management industry in 1996. Before joining Eaton Vance, he was an equity analyst with BlackRock, Inc. He was previously affiliated with Byram Capital Management, Emerson Investment Management, Deutsche Asset Management and Putnam Investments.

Griff earned a B.S. from the University of Vermont and an MBA from Babson College. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.S. University of Vermont
  • M.B.A. Babson College

Experience
  • Managed Fund since 2015

 
Biography
Michael D. McLean, CFA

Michael D. McLean, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2001

Michael McLean is a vice president of Eaton Vance Management, co-director of U.S. small-cap equity and a portfolio manager and equity analyst on Eaton Vance's small-/midcap team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's small- and midcap equity portfolios, as well as coverage of the consumer discretionary and consumer staples sectors. He began his career in the investment management industry with Eaton Vance in 2001.

Mike earned a B.S. from Providence College. He is a CFA charterholder.

Education
  • B.S. Providence College

Experience
  • Managed Fund since 2015

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2016

Annual Report

Download - Last updated: Oct 31, 2015

Full Prospectus

Download - Last updated: Mar 1, 2016

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

Download

SAI

Download - Last updated: Mar 1, 2016

Semi-Annual Report

Download - Last updated: Apr 30, 2016

Summary Prospectus

Download - Last updated: May 2, 2016

XBRL

Download - Last updated: Mar 22, 2016