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. Prior to 9/15/18, Fund was called Eaton Vance Multi-Strategy All Market Fund and employed a different principal investment strategy. The share class has no sales charge.
 

Fund Facts as of Sep 30, 2018

Class I Inception 10/31/2011
Investment Objective Total return
Total Net Assets $19.8M
Minimum Investment $250000
Expense Ratio (Gross)6 1.87%
Expense Ratio (Net)6,7 0.75%
CUSIP 27826A300
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

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. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to 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. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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. Prior to 9/15/18, Fund was called Eaton Vance Multi-Strategy All Market Fund and employed a different principal investment strategy. The share class has no sales charge.
 

Calendar Year Returns (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV 6.69 1.57 2.78 -0.43 7.53 11.61
S&P/LSTA Leveraged Loan Index23 -29.10 51.62 10.13 1.52 9.66 5.29 1.60 -0.69 10.16 4.12
Bloomberg Barclays U.S. Aggregate Bond Index4 5.24 5.93 6.54 7.84 4.21 -2.02 5.97 0.55 2.65 3.54
50% ICE BofAML Developed Markets High Yield ex Subordinated Financial Index - Hedged USD5; 50% S&P/LSTA Leveraged Loan Index -27.42 53.64 12.18 2.96 13.07 6.47 2.22 -2.13 13.34 5.84
 

Fund Facts

Expense Ratio (Gross)6 1.87%
Expense Ratio (Net)6,7 0.75%
Class I Inception 10/31/2011
Distribution Frequency Quarterly

Yield Information8 as of Aug 31, 2018

Distribution Rate at NAV 1.63%
Subsidized SEC 30-day Yield 1.33%
Unsubsidized SEC 30-day Yield 0.12%
 

Morningstar Rating™ as of Sep 30, 2018

Time Period Rating Funds in
World Allocation
Category
Overall *** 399
3 Years *** 399
5 Years *** 334
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
Oct 12, 2018 $10.67 $0.01
Oct 11, 2018 $10.66 -$0.01
Oct 10, 2018 $10.67 -$0.01
Oct 09, 2018 $10.68 -$0.01
Oct 08, 2018 $10.69 $0.00
Oct 05, 2018 $10.69 $0.00
Oct 04, 2018 $10.69 -$0.02
Oct 03, 2018 $10.71 $0.00
Oct 02, 2018 $10.71 $0.00
Oct 01, 2018 $10.71 $0.01
 

Distribution History9

Ex-Date Distribution Reinvest NAV
Sep 27, 2018 $0.06600 $10.70
Jun 28, 2018 $0.04370 $10.55
Mar 28, 2018 $0.04430 $10.60
Dec 28, 2017 $0.20100 $10.81
Sep 28, 2017 $0.03510 $10.70
Jun 29, 2017 $0.04570 $10.51
Mar 30, 2017 $0.03000 $10.30
Dec 29, 2016 $0.11740 $9.97
Sep 29, 2016 $0.02450 $10.11
Jun 29, 2016 $0.06100 $9.84
View All
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 30, 2015 $0.02430 $0.04750 $9.60
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 primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

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. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to 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. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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

Fund Weightings (%)10 as of Jun 30, 2018

Absolute Return Strategies 4.85
Global Macro Absolute Return Advantage Portfolio 4.85
Income Strategies 26.96
Floating Rate Portfolio 16.02
CMBS & ABS Bonds11 7.96
CRT 2.98
Equity Strategies 46.47
Developed International 17.33
U.S. 15.28
Global 7.89
Emerging Markets 5.96
Other 31.05
US Treasury Futures11 26.96
U.S. TIPS 4.10
Cash & Equivalents11 43.14

Portfolio Statistics as of Jun 30, 2018

Average Weighted Duration 2.47 yrs.
 

Credit Quality (%)12 as of Jun 30, 2018

AAA 25.04
AA 1.25
A 12.24
BBB 18.79
BB 13.78
B 18.11
CCC or Lower 0.51
Not Rated 10.28
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the highest rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.

Portfolio Allocations (%)13,14 as of Jun 30, 2018

Cash & Equivalents 48.33
Floating Rate Portfolio 17.95
CMBS & ABS Bonds 8.91
Hexavest Global Equity Fund - Class I 8.84
International Small-Cap Fund - Class I 5.94
Global Macro Absolute Return Advantage Portfolio 5.44
U.S. TIPS 4.59

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

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. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Contractual restrictions may impede the Fund's ability to buy or sell loans and loans may be subject to an extended settlement process. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to 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. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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

Justin H. Bourgette, CFA

Justin H. Bourgette, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2006

Biography

Justin Bourgette is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance’s global income team. He is responsible for buy and sell decisions, portfolio construction and risk management. Justin joined Eaton Vance in 2006.

Justin began his career in the investment management industry in 2006. Before joining Eaton Vance, he was affiliated with Investors Financial Services as an analyst in corporate finance and with National Grid, where he worked in business planning and engineering.

Justin earned a B.S. from Worcester Polytechnic Institute and an M.S., with high honors, from Boston University. He is a CFA charterholder and a member of Eaton Vance’s Asset Allocation Committee.

Education
  • B.S. Worcester Polytechnic Institute
  • M.S. Investment Management, Boston University

Experience
  • Managed Fund since inception

 
John Redding

John Redding

Vice President, Eaton Vance Management
Joined Eaton Vance 1998

Biography

John Redding is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. John is also a named portfolio manager on Eaton Vance's Multi-Asset Credit Strategy. He joined Eaton Vance in 1998.

John began his career in the investment management industry in 1987. Before joining Eaton Vance, he was affiliated with GiroCredit Bank and Creditanstalt-Bankverein.

John earned a B.S. from the University at Albany, State University of New York. While in London, he served on the board of directors of the Loan Market Association (LMA) and chaired the LMA's Insolvency Priority Group. His commentary has appeared in the Financial Times and Bloomberg.

Education
  • B.S. State University of New York at Albany

Experience
  • Managed Fund since 2018

 

Literature

Literature

Annual Report

Download - Last updated: Oct 31, 2017

Full Prospectus

Download - Last updated: Mar 1, 2018

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

Download

SAI

Download - Last updated: Mar 1, 2018

Semiannual Report

Download - Last updated: Apr 30, 2018

Summary Prospectus

Download - Last updated: Mar 1, 2018

XBRL

Download - Last updated: Mar 15, 2018