Overview

Historical Returns (%) as of Sep 30, 2018

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. Max Sales Charge: 5%.
 

Fund Facts as of Nov 30, 2018

Class B Inception 09/23/1996
Performance Inception 07/26/1985
Investment Objective Long-term capital growth
Total Net Assets $1.1B
Minimum Investment $1000
Expense Ratio (Gross)3 2.00%
Expense Ratio (Net)3,4 1.95%
CUSIP 277902847

Top 10 Holdings (%)5,6 as of Sep 30, 2018

Johnson & Johnson
UnitedHealth Group Inc
Merck & Co Inc
Pfizer Inc
Novartis AG
Eli Lilly & Co
Thermo Fisher Scientific Inc
GlaxoSmithKline PLC
Intuitive Surgical Inc
Gilead Sciences Inc
Total 39.54
 

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: 

The value of equity securities is sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. 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, 2018

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. Max Sales Charge: 5%.
 

Calendar Year Returns (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV -7.94 9.12 10.31 3.98 14.67 43.41 26.54 7.52 -15.55 15.38
MSCI World Health Care Index2 -21.50 18.89 2.41 9.46 17.54 36.27 18.10 6.60 -6.81 19.80
 

Fund Facts

Expense Ratio (Gross)3 2.00%
Expense Ratio (Net)3,4 1.95%
Class B Inception 09/23/1996
Performance Inception 07/26/1985
Distribution Frequency Annually

Risk Measures (3 Year)8 as of Nov 30, 2018

Alpha (%) -4.43
Beta 1.14
R-Squared (%) 93.50
Standard Deviation (%) 13.87
Sharpe Ratio 0.24
 

Morningstar Rating™ as of Nov 30, 2018

Time Period Rating Funds in
Health
Category
Overall *** 130
3 Years *** 130
5 Years *** 121
10 Years ** 98
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.

©2018 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 13, 2018 $11.23 $0.00
Dec 12, 2018 $11.23 $0.12
Dec 11, 2018 $11.11 $0.02
Dec 10, 2018 $11.09 $0.03
Dec 07, 2018 $11.06 -$0.24
Dec 06, 2018 $11.30
Dec 04, 2018 $11.38 -$0.67
Dec 03, 2018 $12.05 $0.05
Nov 30, 2018 $12.00 $0.10
Nov 29, 2018 $11.90 $0.05
 

Distribution History9

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 History9

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 04, 2018 $0.42790 $11.38
Dec 21, 2017 $0.29070 $10.56
Dec 13, 2016 $1.16110 $9.28
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: 

The value of equity securities is sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. 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 (%)6,10 as of Sep 30, 2018

Portfolio Statistics as of Sep 30, 2018

Number of Holdings 63
Active Share11 39.02%
 

Sector Breakdown (%)6 as of Sep 30, 2018

Sector Fund MSCI World Health Care Index2
Biotechnology 17.98 15.39
Health Care Distributors 0.52 1.56
Health Care Equipment 19.12 17.20
Health Care Facilities 0.21 1.27
Health Care Services 1.19 4.37
Health Care Supplies 2.19 2.26
Health Care Technology 0.56 0.78
Life Sciences Tools & Services 5.82 4.95
Managed Health Care 12.83 9.63
Pharmaceuticals 39.39 42.60
Cash 0.18 0.00

Assets by Country (%)6 as of Sep 30, 2018

United States 75.97
Switzerland 8.09
United Kingdom 4.42
Denmark 2.91
Australia 1.70
Netherlands 1.51
Germany 1.49
Belgium 1.44
Japan 0.91
Ireland 0.65
Total 100.00
View All
 

Geographic Mix (%)6 as of Sep 30, 2018

North America 75.97
Europe 21.03
Asia/Pacific 2.61
Middle East 0.21
Cash & Other Assets 0.18
Total 100.00
 

Fund Holdings (%)6,12 as of Oct 31, 2018

Holding % of Net Assets
Johnson & Johnson 7.98%
UnitedHealth Group Inc 6.40%
Merck & Co Inc 5.85%
Novartis AG 5.18%
Pfizer Inc 4.92%
Abbott Laboratories 3.34%
GlaxoSmithKline PLC 3.21%
Eli Lilly & Co 3.18%
Anthem Inc 2.86%
Sanofi 2.81%
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: 

The value of equity securities is sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. 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

Jason Kritzer, CFA

Jason Kritzer, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

Biography

Jason Kritzer is a vice president of Eaton Vance Management, portfolio manager and an equity analyst on Eaton Vance's growth and value teams. As a portfolio manager, he is responsible for buy and sell decisions, portfolio construction and risk management for the firm's health care portfolios. As an equity analyst, he is responsible for coverage of the pharmaceutical, health care equipment and biotechnology industries. He joined Eaton Vance in 2012.

Jason began his career in the investment management industry in 1999. He was previously affiliated with BlackRock, Inc. as a director and equity analyst covering the health care sector, and Putnam Investments as an equity research analyst covering health care, technology and business services. Prior to the investment management industry, Jason worked in the computer industry for Digital Equipment Corporation.

Jason earned a B.S.B.A. from Boston University, School of Management and an MBA from Columbia University, School of Business. He is a member of the Columbia Business School Ambassador Program. He is a CFA charterholder.

Education
  • B.S.B.A. Boston University
  • M.B.A. Columbia University

Experience
  • Managed Fund since 2016

 
Samantha Pandolfi, CFA

Samantha Pandolfi, CFA

Vice President, Eaton Vance Advisers International Ltd.
Joined Eaton Vance 2015

Biography

Samantha Pandolfi is a vice president of Eaton Vance Advisers International Ltd. and a global equity analyst on Eaton Vance's global equity team. She is primarily responsible for covering the health care sector for global large-cap and small-cap portfolios. She joined Eaton Vance in 2015.

Samantha began her career in the investment management industry in 2000. Before joining Eaton Vance, she was an executive director and European and global health care portfolio manager at Goldman Sachs Asset Management (GSAM) for 15 years. She has also covered apparel/luxury goods, support services, leisure and cosmetics.

Samantha earned her J.D. from Universita' degli Studi La Sapienze and an MBA from INSEAD. She is a CFA charterholder.

Education
  • M.B.A. INSEAD
  • J.D. Universita' degli Studi La Sapienze

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2018

Annual Report

Download - Last updated: Aug 31, 2018

Full Prospectus

Download - Last updated: Jan 1, 2018

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

Download

SAI

Download - Last updated: Jan 1, 2018

Semi-Annual Report

Download - Last updated: Feb 28, 2018

Summary Prospectus

Download - Last updated: Jan 1, 2018

XBRL

Download - Last updated: Jan 17, 2018