Overview

Historical Returns (%) as of Sep 30, 2020

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.
 

Distribution Rates1

as of Oct 19, 2020
Distribution Rate at NAV 3.65%
Taxable-Equivalent Distribution Rate at NAV 6.17%
Distribution Rate at Market Price 3.84%
Taxable-Equivalent Distribution Rate at Market Price 6.49%
 

Fund Facts

Performance Inception 05/29/2009
Investment Objective Current income
CUSIP 27829L105

Expense Ratios (%)2

as of Annual Report dated 03/31/2020
Management Fees 0.65
Other Expenses 0.10
Total Expenses (ex Interest and Fee Expense) 0.75
Interest and Fee Expense 0.17
Total Expenses 0.92
 

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

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.

About Risk: 

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Trust may invest significantly in a particular sector, the NAV of the Trust's shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. The Trust may engage in other investment practices that may involve additional risks.


Performance

Historical Returns (%) as of Sep 30, 2020

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.
 

Calendar Year Returns (%)

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Fund at NAV 1.40 11.49 14.47 -4.83 17.44 4.35 0.87 5.99 0.68 8.32
Market Price 6.41 16.44 11.22 -12.15 19.77 7.19 2.65 14.17 -12.81 22.16
 

Fund Facts

Performance Inception 05/29/2009
 

Distribution Rates1

as of Oct 19, 2020
Distribution Rate at NAV 3.65%
Taxable-Equivalent Distribution Rate at NAV 6.17%
Distribution Rate at Market Price 3.84%
Taxable-Equivalent Distribution Rate at Market Price 6.49%
 

Distribution History3

Ex-Date Distribution Reinvest Price
Sep 22, 2020 $0.06420 $20.60
Aug 21, 2020 $0.06420 $20.61
Jul 23, 2020 $0.06420 $19.80
Jun 22, 2020 $0.06420 $19.20
May 21, 2020 $0.06420 $18.25
Apr 22, 2020 $0.05780 $18.55
Mar 23, 2020 $0.06420 $16.82
Feb 20, 2020 $0.07170 $21.98
Jan 23, 2020 $0.07170 $21.91
Dec 23, 2019 $0.07170 $21.45
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

Exempt-Interest Dividends    
Non-AMT AMT Total Non-Qualified Ordinary Dividends Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2019 $0.77 $0.13 $0.90 $0.04 $0.07 $0.00 $1.02
2018 $0.84 $0.15 $0.99 $0.04 $0.11 $0.00 $1.14
2017 $0.85 $0.14 $0.99 $0.04 $0.12 $0.00 $1.15
2016 $0.85 $0.13 $0.98 $0.06 $0.20 $0.00 $1.24
2015 $0.86 $0.14 $1.00 $0.03 $0.00 $0.00 $1.03
2014 $0.85 $0.15 $1.00 $0.03 $0.00 $0.00 $1.03
2013 $0.86 $0.17 $1.03 $0.01 $0.00 $0.00 $1.04
2012 $0.90 $0.18 $1.08 $0.01 $0.00 $0.00 $1.09
2011 $0.97 $0.21 $1.18 $0.01 $0.00 $0.00 $1.19
2010 $1.24 $0.00 $1.24 $0.11 $0.02 $0.00 $1.37
2009 $0.70 $0.00 $0.70 $0.00 $0.00 $0.00 $0.70
Distributions (%)
2019 75.28% 12.77% 88.04% 4.37% 7.05% 0.00% 100.00%
2018 74.12% 12.64% 86.76% 3.80% 9.44% 0.00% 100.00%
2017 74.14% 12.00% 86.14% 3.30% 10.46% 0.00% 100.00%
2016 68.52% 10.40% 78.92% 4.94% 16.14% 0.00% 100.00%
2015 83.40% 13.27% 96.67% 3.33% 0.00% 0.00% 100.00%
2014 82.34% 15.14% 97.48% 2.52% 0.00% 0.00% 100.00%
2013 82.74% 16.44% 99.18% 0.82% 0.00% 0.00% 100.00%
2012 82.80% 16.57% 99.37% 0.63% 0.00% 0.00% 100.00%
2011 81.31% 18.15% 99.46% 0.54% 0.00% 0.00% 100.00%
2010 90.65% 0.00% 90.65% 8.26% 1.09% 0.00% 100.00%
2009 99.96% 0.00% 99.96% 0.04% 0.00% 0.00% 100.00%

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.

About Risk: 

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Trust may invest significantly in a particular sector, the NAV of the Trust's shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. The Trust may engage in other investment practices that may involve additional risks.


Portfolio

Municipal Obligations by State/Territory4,5 as of Dec 31, 2019

Illinois 13.99
Florida 11.04
New York 10.64
California 10.20
Texas 9.64
New Jersey 9.54
Georgia 5.87
Alabama 3.38
North Carolina 3.36
Michigan 3.29
View All
 

Fund Holdings6,7 as of Aug 31, 2020

Holding Coupon Rate Maturity Date % of Net Assets
New Jersey Transportation Trust Fund Authority 0.00% 12/15/2038 3.23%
County of MiamiDade FL 7.00% 10/01/2039 2.74%
North Carolina Turnpike Authority 0.00% 01/01/2036 2.62%
San Francisco City County Airport CommSan Francisco International Airport 5.00% 05/01/2045 2.26%
San Joaquin Hills Transportation Corridor Agency 5.00% 01/15/2050 2.17%
Chicago Board of Education 5.00% 12/01/2042 2.02%
Oglethorpe Power Corp 4.13% 11/01/2045 1.97%
State of Illinois 4.25% 12/01/2037 1.93%
United States Dollar 1.88%
County of MiamiDade FL 6.88% 10/01/2034 1.83%
View All

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

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.

About Risk: 

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. 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. Because the Trust may invest significantly in a particular sector, the NAV of the Trust's shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. The Trust may engage in other investment practices that may involve additional risks.


Management

Cynthia J. Clemson

Cynthia J. Clemson

Vice President, Co-Director of Municipal Investments, Eaton Vance Management
Joined Eaton Vance 1985

Biography

Cynthia Clemson is a vice president of Eaton Vance Management, co-director of municipal investments and portfolio manager on Eaton Vance’s municipal bond team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s municipal bond strategies. Cindy began her career in the investment management industry with Eaton Vance in 1985.

Cindy earned a B.A. from Mount Holyoke College and an MBA from Boston University. She is a member of the Boston Municipal Analysts Forum, the CFA Society of Boston, the Municipal Bond Buyer Conference and the National Federation of Municipal Analysts.

Education
  • B.A. Mount Holyoke College
  • M.B.A. Graduate School of Management, Boston University

Experience
  • Managed Fund since inception

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2020

Commentary

Download - Last updated: Jun 30, 2020

Report of Organizational Actions Affecting Basis of Securities

Download - Last updated: May 13, 2020

Annual Report

Download - Last updated: Mar 31, 2020

Full Prospectus

Download - Last updated: Jul 23, 2020

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

Download

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jan 21, 2014

Eaton Vance Announces Updated Results of Closed-End Fund Share Repurchase Programs

Download - Last updated: Jan 9, 2014

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Nov 20, 2013

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Jul 16, 2013

Eaton Vance National Municipal Opportunities Trust Opportunities Trust

Download - Last updated: Nov 30, 2010

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Nov 9, 2010

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

Download - Last updated: Oct 1, 2020

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

Download - Last updated: Sep 1, 2020

UNII Report

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

Download - Last updated: Aug 3, 2020

UNII Report

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

Download - Last updated: Jul 1, 2020

UNII Report

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

Download - Last updated: Jun 1, 2020

UNII Report

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

Download - Last updated: May 1, 2020

UNII Report

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

Download - Last updated: Apr 1, 2020

UNII Report

Download - Last updated: Mar 31, 2020

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

Download - Last updated: Mar 2, 2020

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

Download - Last updated: Feb 3, 2020

UNII Report

Download - Last updated: Jan 31, 2020

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds and Portfolio Managers of Eaton Have High Income 2021 Target Term Trust (NYSE: EHT)

Download - Last updated: Jan 2, 2020

UNII Report

Download - Last updated: Dec 31, 2019

UNII Report

Download - Last updated: Dec 17, 2019

Eaton Vance National Municipal Opportunities Trust Declares Capital Gain Distributions

Download - Last updated: Dec 3, 2019

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

Download - Last updated: Dec 2, 2019

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

Download - Last updated: Nov 1, 2019

UNII Report

Download - Last updated: Oct 31, 2019

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

Download - Last updated: Oct 1, 2019

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

Download - Last updated: Sep 3, 2019

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

Download - Last updated: Aug 1, 2019

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

Download - Last updated: Jul 1, 2019

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

Download - Last updated: Jun 3, 2019

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

Download - Last updated: May 1, 2019

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

Download - Last updated: Apr 1, 2019

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

Download - Last updated: Mar 1, 2019

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

Download - Last updated: Feb 1, 2019

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

Download - Last updated: Jan 2, 2019

Eaton Vance National Municipal Opportunities Trust Declares Capital Gain Distribtuion

Download - Last updated: Dec 4, 2018

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

Download - Last updated: Dec 3, 2018

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

Download - Last updated: Nov 1, 2018

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Apr 24, 2014

Eaton Vance Closed-End Funds Adopt Share Repurchase Programs

Download - Last updated: Nov 15, 2013

Eaton Vance Closed-End Municipal Bond Funds Fund Data Now Available

Download - Last updated: Feb 4, 2013

SAI

Download - Last updated: Jul 23, 2020

Semi-Annual Report

Download - Last updated: Sep 30, 2019