Overview

Historical Returns (%) as of Sep 30, 2019

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.

The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. Click here for more information.
 

Distribution Rates1,2

as of Oct 22, 2019
Distribution Rate at NAV 8.49%
Distribution Rate at Market Price 8.76%
 

Fund Facts

Performance Inception 09/30/2005
Investment Objective Current income and gains
CUSIP 27829C105

Expense Ratios (%)

as of Annual Report dated 12/31/2018
Management Fees 1.00
Other Expenses 0.09
Total Expenses 1.09
 

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 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. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived and well-executed options program may be adversely affected by market behavior or unexpected events. The exercise of index call options sold by the Fund may require the Fund to sell portfolio securities to generate cash at inopportune times or for unattractive prices. In addition, the trading price of options may be adversely affected if the market for such options becomes less liquid or smaller. 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. The Fund’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 Fund) , 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 Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The Fund may engage in other investment practices that may involve additional risks.


Performance

Historical Returns (%) as of Sep 30, 2019

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.

The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. Click here for more information.
 

Calendar Year Returns (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Fund at NAV 28.83 8.24 2.21 12.46 17.46 2.97 3.92 3.46 19.28 -7.72
Market Price 59.07 -0.81 -6.50 15.53 25.26 0.19 12.59 0.14 30.47 -11.76
 

Fund Facts

Performance Inception 09/30/2005
 

Distribution Rates1,2

as of Oct 22, 2019
Distribution Rate at NAV 8.49%
Distribution Rate at Market Price 8.76%
 

Distribution History3,4

Ex-Date Distribution Reinvest Price
Sep 20, 2019 $0.07270 $9.56
Aug 22, 2019 $0.07270 $9.55
Jul 23, 2019 $0.07270 $9.54
Jun 20, 2019 $0.07270 $9.78
May 23, 2019 $0.07270 $9.51
Apr 22, 2019 $0.07270 $9.98
Mar 20, 2019 $0.07270 $9.86
Feb 20, 2019 $0.07270 $9.71
Jan 23, 2019 $0.07270 $9.79
Dec 21, 2018 $0.09100 $9.56
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

Ordinary Dividends    
Non-Qualified Qualified Total Capital Gain Distributions Nondividend Distributions Total Distributions
Distributions ($)
2018 $0.00 $0.13 $0.13 $0.55 $0.41 $1.09
2017 $0.00 $0.15 $0.15 $0.00 $0.95 $1.10
2016 $0.00 $0.16 $0.16 $0.00 $1.01 $1.17
2015 $0.00 $0.18 $0.18 $0.00 $0.99 $1.17
2014 $0.00 $0.24 $0.24 $0.00 $0.93 $1.17
2013 $0.00 $0.19 $0.19 $0.00 $0.98 $1.17
2012 $0.00 $0.23 $0.23 $0.00 $0.94 $1.17
2011 $0.00 $0.19 $0.19 $0.00 $1.02 $1.21
2010 $0.00 $0.17 $0.17 $0.02 $1.28 $1.47
2009 $0.00 $0.20 $0.20 $0.00 $1.60 $1.80
2008 $0.00 $0.38 $0.38 $0.00 $1.42 $1.80
2007 $0.00 $0.09 $0.09 $0.05 $1.66 $1.80
2006 $0.00 $0.31 $0.31 $0.05 $1.44 $1.80
2005 $0.03 $0.06 $0.09 $0.08 $0.28 $0.45
Distributions (%)
2018 0.00% 11.76% 11.76% 50.38% 37.86% 100.00%
2017 0.00% 13.50% 13.50% 0.00% 86.50% 100.00%
2016 0.00% 13.30% 13.30% 0.00% 86.70% 100.00%
2015 0.00% 15.65% 15.65% 0.00% 84.35% 100.00%
2014 0.00% 20.68% 20.68% 0.00% 79.32% 100.00%
2013 0.00% 16.17% 16.17% 0.00% 83.83% 100.00%
2012 0.00% 19.98% 19.98% 0.00% 80.02% 100.00%
2011 0.00% 16.02% 16.02% 0.00% 83.98% 100.00%
2010 0.00% 11.34% 11.34% 1.31% 87.35% 100.00%
2009 0.00% 11.10% 11.10% 0.00% 88.90% 100.00%
2008 0.00% 20.89% 20.89% 0.00% 79.11% 100.00%
2007 0.00% 4.75% 4.75% 2.84% 92.41% 100.00%
2006 0.00% 17.11% 17.11% 2.99% 79.90% 100.00%
2005 6.49% 14.01% 20.50% 18.43% 61.07% 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 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. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived and well-executed options program may be adversely affected by market behavior or unexpected events. The exercise of index call options sold by the Fund may require the Fund to sell portfolio securities to generate cash at inopportune times or for unattractive prices. In addition, the trading price of options may be adversely affected if the market for such options becomes less liquid or smaller. 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. The Fund’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 Fund) , 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 Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The Fund may engage in other investment practices that may involve additional risks.


Portfolio

 

Fund Holdings (%)5,6 as of Aug 31, 2019

Holding % of Net Assets
Microsoft Corp 4.52%
Apple Inc 4.11%
Amazon.com Inc 3.61%
Facebook Inc 2.22%
Nestle SA 2.13%
Alphabet Inc - CL A 1.96%
Alphabet Inc - CL C 1.57%
Fast Retailing Co Ltd 1.39%
Roche Holding AG 1.30%
Novartis AG 1.30%
View All

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 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. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived and well-executed options program may be adversely affected by market behavior or unexpected events. The exercise of index call options sold by the Fund may require the Fund to sell portfolio securities to generate cash at inopportune times or for unattractive prices. In addition, the trading price of options may be adversely affected if the market for such options becomes less liquid or smaller. 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. The Fund’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 Fund) , 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 Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The Fund may engage in other investment practices that may involve additional risks.


Management

Michael A. Allison, CFA

Michael A. Allison, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Biography

Michael Allison is a vice president of Eaton Vance Management, a director of equity strategy implementation and a structured equity portfolio manager on a number of Eaton Vance’s global and domestic equity income and tax-managed equity portfolios. On those funds, he is responsible for portfolio construction, tax oversight and risk management. He is a member of the firm’s Equity Strategy Committee. He joined Eaton Vance in 2000.

Mike began his career in the investment management industry in 1988. Before joining Eaton Vance, Mike was an equity analyst for Schroder Investment Management North America Inc. He was also affiliated with Fleet Investment Advisors and Phoenix Home Life Mutual Fund Insurance Co.

Mike earned a B.S.B.A. from the University of Denver. He is a member of the CFA Society of Boston and is a CFA charterholder.

Education
  • B.S.B.A., The University of Denver

Experience
  • Managed Fund since 2015

 
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

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2019

Commentary

Download - Last updated: Jun 30, 2019

Report of Organizational Actions Affecting Basis of Securities

Download - Last updated: Dec 31, 2012

Annual Report

Download - Last updated: Dec 31, 2018

Important Quarterly Equity Option Fund Data

Download - Last updated: Jun 30, 2019

Equity Option Closed-End Fund Guide

Download - Last updated: Jun 30, 2019

Full Prospectus

Download - Last updated: Apr 29, 2019

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

Download

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

Download

Return of Capital Distributions Demystified

Download - Last updated: Dec 1, 2017

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

Download - Last updated: Jan 9, 2014

Eaton Vance Updates Results of Equity Option CEF Share Repurchase Program

Download - Last updated: Oct 4, 2013

Eaton Vance Announces Updated Results of Equity Option Closed-End Fund Share Repurchase Program

Download - Last updated: Sep 19, 2013

Eaton Vance Announces Results of Equity Option Closed-End Fund Share Repurchase Program

Download - Last updated: May 1, 2013

Eaton Vance Announces Results of Equity Option Closed-End Fund Share Repurchase Program

Download - Last updated: Mar 8, 2013

Eaton Vance Equity Option CEFs Adopt Share Repurchase Program

Download - Last updated: Aug 8, 2012

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

Download - Last updated: Oct 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Sep 30, 2019

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

Download - Last updated: Sep 3, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Aug 30, 2019

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

Download - Last updated: Aug 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jul 31, 2019

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

Download - Last updated: Jul 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution 

Download - Last updated: Jun 28, 2019

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

Download - Last updated: Jun 3, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution

Download - Last updated: May 31, 2019

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

Download - Last updated: May 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution 

Download - Last updated: Apr 30, 2019

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

Download - Last updated: Apr 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution

Download - Last updated: Mar 29, 2019

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

Download - Last updated: Mar 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Feb 28, 2019

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

Download - Last updated: Feb 1, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jan 31, 2019

Distribution Dates and Distribution Rate Changes Announced for Certain Eaton Vance Closed-End Funds

Download - Last updated: Jan 2, 2019

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Dec 31, 2018

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

Download - Last updated: Dec 3, 2018

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Nov 30, 2018

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

Download - Last updated: Nov 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Oct 31, 2018

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

Download - Last updated: Oct 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distribution

Download - Last updated: Sep 28, 2018

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

Download - Last updated: Sep 4, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Aug 31, 2018

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

Download - Last updated: Aug 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jul 31, 2018

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

Download - Last updated: Jul 2, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jun 29, 2018

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

Download - Last updated: Jun 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: May 31, 2018

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

Download - Last updated: May 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Apr 30, 2018

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

Download - Last updated: Apr 2, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Mar 29, 2018

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

Download - Last updated: Mar 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Feb 28, 2018

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

Download - Last updated: Feb 1, 2018

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Jan 31, 2018

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

Download - Last updated: Jan 2, 2018

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

Download - Last updated: Dec 29, 2017

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

Download - Last updated: Dec 1, 2017

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Nov 30, 2017

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

Download - Last updated: Nov 1, 2017

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Download - Last updated: Oct 31, 2017

SAI

Download - Last updated: Apr 29, 2019

Section 16 Filings - www.sec.gov

Download - Last updated: Jun 30, 2011

Semi-Annual Report

Download - Last updated: Jun 30, 2019