Overview

Growth of $10,000

10-year period ended 09/30/2017

  • Class A at NAV

Historical Returns (%) as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
11/30/2017
Fund at NAV 3.74 9.57 15.63 19.81 7.94 13.06 5.58
Return After Taxes on Dist 19.42 6.37 11.74 4.86
Return After Taxes on Dist & Sales of Fund Shares 11.45 5.90 10.23 4.35
Russell 1000® Value Index1 3.06 6.89 12.03 14.83 8.34 14.17 6.84
09/30/2017
Fund at NAV 3.27 3.75 8.99 16.08 6.59 11.40 4.92
Return After Taxes on Dist 15.70 5.04 10.10 4.20
Return After Taxes on Dist & Sales of Fund Shares 9.36 4.90 8.92 3.83
Russell 1000® Value Index1 2.96 3.11 7.92 15.12 8.53 13.19 5.91
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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.
 

Fund Facts as of Nov 30, 2017

Class I Inception 11/30/2007
Performance Inception 12/27/1999
Investment Objective Long-term, after-tax return
Total Net Assets $599.2M
Minimum Investment $250000
Expense Ratio2 0.96%
CUSIP 277923629

Top 10 Holdings (%)3,4 as of Sep 30, 2017

JPMorgan Chase & Co
NextEra Energy Inc
Chevron Corp
Johnson & Johnson
Wells Fargo & Co
PNC Financial Services Group Inc
Exxon Mobil Corp
Verizon Communications Inc
Thermo Fisher Scientific Inc
Apple Inc
Total 31.73
 

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. 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, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
11/30/2017
Fund at NAV 3.74 9.57 15.63 19.81 7.94 13.06 5.58
Return After Taxes on Dist 19.42 6.37 11.74 4.86
Return After Taxes on Dist & Sales of Fund Shares 11.45 5.90 10.23 4.35
Russell 1000® Value Index1 3.06 6.89 12.03 14.83 8.34 14.17 6.84
Morningstar Large Value Category5 3.26 7.77 14.23 16.55 8.14 13.33 6.59
09/30/2017
Fund at NAV 3.27 3.75 8.99 16.08 6.59 11.40 4.92
Return After Taxes on Dist 15.70 5.04 10.10 4.20
Return After Taxes on Dist & Sales of Fund Shares 9.36 4.90 8.92 3.83
Russell 1000® Value Index1 2.96 3.11 7.92 15.12 8.53 13.19 5.91
Morningstar Large Value Category5 3.20 3.80 9.41 16.17 7.99 12.23 5.72
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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.
 

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 9.38 -34.88 17.66 9.37 -2.99 15.79 31.58 11.20 -1.31 9.30
Russell 1000® Value Index1 -0.17 -36.85 19.69 15.51 0.39 17.51 32.53 13.45 -3.83 17.34
 

Fund Facts

Expense Ratio2 0.96%
Class I Inception 11/30/2007
Performance Inception 12/27/1999
Distribution Frequency Annually

Risk Measures (3 Year)6 as of Nov 30, 2017

Alpha (%) 0.44
Beta 0.90
R-Squared (%) 93.54
Standard Deviation (%) 9.57
Sharpe Ratio 0.79
 

Morningstar Rating™ as of Nov 30, 2017

Time Period Rating Funds in
Large Value
Category
Overall *** 1107
3 Years *** 1107
5 Years *** 966
10 Years *** 691
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.

©2017 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
Dec 11, 2017 $26.03 $0.04
Dec 08, 2017 $25.99 $0.17
Dec 07, 2017 $25.82 $0.08
Dec 06, 2017 $25.74 -$0.01
Dec 05, 2017 $25.75 -$0.47
Dec 04, 2017 $26.22 $0.09
Dec 01, 2017 $26.13 $0.02
Nov 30, 2017 $26.11 $0.23
Nov 29, 2017 $25.88 $0.16
Nov 28, 2017 $25.72
 

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 05, 2017 $0.31330 $25.75
Dec 08, 2016 $0.30500 $22.43
Dec 10, 2015 $0.34640 $20.89
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 10, 2015 $1.54700 $20.89
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. 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 (%)4,8 as of Sep 30, 2017

U.S. Common Stocks 96.58
Foreign Common Stocks 3.32
Cash 0.10
Total 100.00

Portfolio Statistics as of Sep 30, 2017

Average Market Cap $163.2B
Price/Earnings Ratio 19.36
Number of Holdings 65
Price/Book Ratio 2.57
 

GICS Sector Breakdown (%)4 as of Sep 30, 2017

Sector Fund Russell 1000® Value Index1
Consumer Discretionary 3.48 6.76
Consumer Staples 7.72 8.69
Energy 11.43 10.89
Financials 27.00 26.00
Health Care 13.38 13.89
Industrials 8.58 8.54
Information Technology 12.07 8.19
Materials 0.76 2.87
Real Estate 4.62 4.84
Telecom Services 3.20 3.17
Utilities 7.65 6.15
Cash 0.10
 

Fund Holdings (%)4,9 as of Oct 31, 2017

Holding % of Net Assets
JPMorgan Chase & Co 5.31%
Verizon Communications Inc 3.45%
NextEra Energy Inc 3.31%
Johnson & Johnson 3.22%
Wells Fargo & Co 3.05%
PNC Financial Services Group Inc 3.00%
Chevron Corp 2.98%
Exxon Mobil Corp 2.92%
Thermo Fisher Scientific Inc 2.82%
Intel Corp 2.70%
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. 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

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. He 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 April 2014.

Eddie began his career in the financial services 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

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

Biography

Aaron Dunn is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance's value team. 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 Boston Security Analysts Society 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: Sep 30, 2017

Annual Report

Download - Last updated: Oct 31, 2016

Full Prospectus

Download - Last updated: Mar 1, 2017

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

Download

SAI

Download - Last updated: Mar 1, 2017

Semi-Annual Report

Download - Last updated: Apr 30, 2017

Summary Prospectus

Download - Last updated: Mar 1, 2017

XBRL

Download - Last updated: Mar 21, 2017