Overview

Historical Returns (%) as of Mar 31, 2020

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. The share class has no sales charge.
 

Fund Facts as of Apr 30, 2020

Investor Class Inception 03/26/2014
Investment Objective Current income and total return
Total Net Assets $31.6M
Minimum Investment $1000
Expense Ratio (Gross)4 0.91%
Expense Ratio (Net)4,5 0.65%
CUSIP 27826A821

Top 10 Holdings (%)6,7 as of Mar 31, 2020

Becton, Dickinson and Company 0.64
Equitrans Midstream Corp. 0.62
Stryker Corporation 0.62
ONEOK, Inc. 0.61
Kraft Heinz Company 0.61
Dolby Laboratories, Inc. Class A 0.61
Altria Group Inc 0.61
Cracker Barrel Old Country Store, Inc. 0.61
Halliburton Company 0.61
Archer-Daniels-Midland Company 0.60
Total 6.15
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 Mar 31, 2020

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. The share class has no sales charge.
 

Calendar Year Returns (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Fund at NAV -0.68 19.33 15.47 -7.62
Russell 1000® Value Index3 19.69 15.51 0.39 17.51 32.53 13.45 -3.83 17.34 13.66 -8.27
 

Fund Facts

Expense Ratio (Gross)4 0.91%
Expense Ratio (Net)4,5 0.65%
Investor Class Inception 03/26/2014
Distribution Frequency Quarterly

Yield Information as of Apr 30, 2020

Distribution Rate at NAV 3.71%
Subsidized SEC 30-day Yield9 4.16%
Unsubsidized SEC 30-day Yield 3.75%
 

Morningstar Rating™ as of Apr 30, 2020

Time Period Rating Funds in
Large Value
Category
Overall 1104
3 Years 1104
5 Years 953
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. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2020 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
May 28, 2020 $11.45 -$0.10
May 27, 2020 $11.55 $0.26
May 26, 2020 $11.29 $0.33
May 22, 2020 $10.96 -$0.01
May 21, 2020 $10.97 -$0.05
May 20, 2020 $11.02 $0.20
May 19, 2020 $10.82 -$0.20
May 18, 2020 $11.02 $0.55
May 15, 2020 $10.47 $0.04
May 14, 2020 $10.43 $0.13
 

Distribution History10

Ex-Date Distribution Reinvest NAV
Mar 19, 2020 $0.10180 $9.12
Dec 19, 2019 $0.09670 $13.55
Sep 19, 2019 $0.08040 $12.99
Jun 19, 2019 $0.06490 $12.87
Mar 19, 2019 $0.08330 $12.77
Dec 19, 2018 $0.09010 $11.60
Sep 19, 2018 $0.08360 $13.68
Jun 19, 2018 $0.09230 $13.20
Mar 20, 2018 $0.03970 $12.91
Dec 14, 2017 $0.07710 $12.90
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 History10

Ex-Date Short-Term Long-Term Reinvest NAV
Aug 08, 2019 $0.00730 $12.79
Dec 19, 2018 $0.09560 $0.17150 $11.60
Aug 09, 2018 $0.00900 $0.03990 $13.47
Dec 14, 2017 $0.06690 $0.07030 $12.90
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.

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 (%)7 as of Mar 31, 2020

Portfolio Statistics as of Mar 31, 2020

Median Market Cap $16.2B
Price/Earnings Ratio 12.31
Number of Holdings 180
Price/Book Ratio 1.46
 

GICS Sector Breakdown (%)7 as of Mar 31, 2020

 

Fund Holdings (%)7,11 as of Mar 31, 2020

Holding % of Net Assets
EV Cash Reserves Fund LLC 0.84%
Becton Dickinson and Co 0.64%
Equitrans Midstream Corp 0.62%
Stryker Corp 0.61%
ONEOK Inc 0.61%
Kraft Heinz Co 0.61%
Dolby Laboratories Inc 0.61%
Altria Group Inc 0.61%
Cracker Barrel Old Country Store Inc 0.61%
Halliburton Co 0.60%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

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. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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

Thomas Seto

Thomas Seto

Head of Investment Management
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 1998

Biography

Thomas Seto is head of investment management with Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. Tom is responsible for all portfolio management and trading at the Seattle Investment Center, and is a member of the executive committee. He joined Parametric in 1998.

Tom began his career in the investment management industry in 1991. Before joining Parametric, he served as the head of U.S. equity index investments at Barclays Global Investors.

Tom earned a B.S. in electrical engineering from the University of Washington and an MBA from the University of Chicago Booth School of Business.

Education
  • B.S. University of Washington
  • M.B.A Booth School of Business, University of Chicago

Experience
  • Managed Fund since inception

 
Alexander Paulsen

Alexander Paulsen

Director - Investment Strategy
Parametric Seattle Investment Center
Joined Parametric Portfolio Associates 2012

Biography

Alexander Paulsen is director of research for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He is responsible for overseeing the firm's investment strategies, and directs the research efforts that support existing strategies and form the foundation for new strategies. In addition, he holds investment responsibilities as a portfolio manager. He joined Parametric in 2012.

Alex began his career in the investment management industry in 2008. He was previously affiliated with Blackrock.

Alex earned a B.S. from the University of Washington and an MSc from London School of Economics and Political Science.

Education
  • B.S. University of Washington
  • MSc London School of Economics and Political Science

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet

Download - Last updated: Mar 31, 2020

Annual Report

Download - Last updated: Feb 29, 2020

Full Prospectus

Download - Last updated: Jul 1, 2019

Holdings-1st or 3rd fiscal quarters-www.sec.gov (beginning 9/30/2019)

Download

Holdings-1st or 3rd fiscal quarters-www.sec.gov (beginning 3/31/2019)

Download

SAI

Download - Last updated: Jul 1, 2019

Semi-Annual Report

Download - Last updated: Aug 31, 2019

Summary Prospectus

Download - Last updated: Jul 1, 2019

Estimated spillback distributions

Download - Last updated: Jul 31, 2019

XBRL

Download - Last updated: Jul 10, 2019