Overview

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
02/28/2017
Fund at NAV 0.23 0.53 0.42 2.80 1.28 1.32 2.43
Bloomberg Barclays 9-12 Months Short Treasury Index1 0.05 0.25 0.19 0.77 0.43 0.37 1.33
12/31/2016
Fund at NAV 0.12 0.37 2.22 2.22 1.19 1.39 2.47
Bloomberg Barclays 9-12 Months Short Treasury Index1 0.06 0.08 0.79 0.79 0.38 0.33 1.39
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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.

Fund Factsas of Feb 28, 2017

Class I Inception 01/31/2014
Performance Inception 10/31/2006
Investment Objective Maximize income, to the extent consistent with preservation of capital
Total Net Assets $771.2M
Minimum Investment $1000000
Expense Ratio (Gross)2 0.52%
Expense Ratio (Net)2,3 0.50%
CUSIP 131582348

Top 10 Holdings (%)4,5as of Jan 31, 2017

Bank of America Corp
Wells Fargo & Co
Capital One NA/Mclean VA
Hyundai Capital America
United States Treasury Note/Bond
Ford Motor Credit Co LLC
Air Lease Corp
Morgan Stanley
Conn's Receivables Funding 2016-B LLC
Synchrony Financial
Total 19.44

Portfolio Management

Vishal Khanduja, CFA Managed Fund since 2012
Brian S. Ellis, CFA Managed Fund since 2015

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

About Risk 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Because a significant portion of securities held by the Fund may have variable or floating interest rates, the amount of the Fund's monthly distributions to shareholders are expected to vary. Generally when market interest rates fall, the amount of the distributions will decrease. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company’s ESG performance.


Performance

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
02/28/2017
Fund at NAV 0.23 0.53 0.42 2.80 1.28 1.32 2.43
Bloomberg Barclays 9-12 Months Short Treasury Index1 0.05 0.25 0.19 0.77 0.43 0.37 1.33
12/31/2016
Fund at NAV 0.12 0.37 2.22 2.22 1.19 1.39 2.47
Bloomberg Barclays 9-12 Months Short Treasury Index1 0.06 0.08 0.79 0.79 0.38 0.33 1.39
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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 5.20 2.98 7.29 2.30 0.20 2.46 0.90 0.74 0.62 2.22
Bloomberg Barclays 9-12 Months Short Treasury Index1 5.87 4.68 0.76 0.67 0.51 0.23 0.25 0.17 0.20 0.79

Fund Facts

Expense Ratio (Gross)2 0.52%
Expense Ratio (Net)2,3 0.50%
Class I Inception 01/31/2014
Performance Inception 10/31/2006
Distribution Frequency Monthly

Yield Information6as of Feb 28, 2017

Distribution Rate at NAV 1.20%
SEC 30-day Yield 1.33%
Medium Quality/Limited Duration
Morningstar Fixed Income Style Box
The Morningstar Style Box™ reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the long stocks owned and the horizontal axis shows investment style (value, blend, or growth). For fixed-income funds, the vertical axis shows the credit quality of the long bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond's effective duration.

©2017 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. Past performance is no guarantee of future results.

NAV History

Date NAV NAV Change
Mar 22, 2017 $15.64 $0.00
Mar 21, 2017 $15.64 $0.00
Mar 20, 2017 $15.64 $0.00
Mar 17, 2017 $15.64 $0.01
Mar 16, 2017 $15.63 $0.00
Mar 15, 2017 $15.63 $0.00
Mar 14, 2017 $15.63 $0.00
Mar 13, 2017 $15.63 $0.00
Mar 10, 2017 $15.63 $0.00
Mar 09, 2017 $15.63 $0.00

Distribution History7

Ex-Date Distribution Reinvest NAV
Feb 23, 2017 $0.01564 $15.62
Jan 26, 2017 $0.01932 $15.61
Dec 27, 2016 $0.01802 $15.60
Nov 29, 2016 $0.01998 $15.60
Oct 27, 2016 $0.01889 $15.60
Sep 28, 2016 $0.01921 $15.60
Aug 30, 2016 $0.01880 $15.59
Jul 28, 2016 $0.02225 $15.58
Jun 28, 2016 $0.01898 $15.54
May 26, 2016 $0.01917 $15.55
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 History7

Ex-Date Short-Term Long-Term Reinvest NAV
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 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Because a significant portion of securities held by the Fund may have variable or floating interest rates, the amount of the Fund's monthly distributions to shareholders are expected to vary. Generally when market interest rates fall, the amount of the distributions will decrease. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company’s ESG performance.


Portfolio

Asset Mix (%)5as of Jan 31, 2017

U.S. Corporate Bonds 50.65
Asset Backed Securities 17.90
Commercial Mortgage Backed Securities 8.48
Cash 7.49
Collateralized Mortgage Obligations 5.23
Municipal Bonds 3.78
U.S. Treasuries 3.28
Foreign Corporate Bonds 2.75
Convertible Bond 0.43
Total 100.00

Portfolio Statisticsas of Jan 31, 2017

Effective Duration 0.31 yrs.
Average Effective Maturity 1.23 yrs.

Credit Quality (%)as of Jan 31, 2017

AAA 9.69
AA 14.96
A 18.22
BBB 42.91
BB 3.87
B 1.33
Not Rated 9.03
Ratings are based on Moody's, S&P or Fitch, as applicable. Securities rated by all three services are assigned the median rating; if a bond is rated by only two agencies, it is assigned the lowest rating; if it is only rated by one agency, it is assigned that rating. 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.

Assets by Country (%)8as of Jan 31, 2017

United States 96.45
Canada 1.44
Other 2.11

Fund Holdings5,9as of Jan 31, 2017

Holding Coupon Rate Maturity Date % of Net Assets
STATE STREET EURO DLR TIME DEP STATE STREET EURO DLR TIME DE 0.29% 01/31/2017 7.19%
Bank of America Corp 2.00% 01/11/2018 3.10%
Wells Fargo & Co 2.28% 03/04/2021 2.11%
Capital One NA/Mclean VA 1.72% 09/13/2019 2.07%
Hyundai Capital America 1.45% 02/06/2017 2.05%
United States Treasury Note/Bond 2.75% 12/31/2017 1.96%
Ford Motor Credit Co LLC 1.81% 11/04/2019 1.66%
Air Lease Corp 5.63% 04/01/2017 1.64%
Morgan Stanley 1.78% 07/23/2019 1.64%
Conn's Receivables Funding 2016-B LLC 3.73% 10/15/2018 1.61%
View All

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

About Risk 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Because a significant portion of securities held by the Fund may have variable or floating interest rates, the amount of the Fund's monthly distributions to shareholders are expected to vary. Generally when market interest rates fall, the amount of the distributions will decrease. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company’s ESG performance.


Insights & Analysis

Commentary

No commentary information is currently available.

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

About Risk 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Because a significant portion of securities held by the Fund may have variable or floating interest rates, the amount of the Fund's monthly distributions to shareholders are expected to vary. Generally when market interest rates fall, the amount of the distributions will decrease. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company’s ESG performance.

Attribution

No attribution information is currently available.

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

About Risk 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of bonds held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Bond funds are subject to interest rate risk and credit risk. When interest rates rise, the value of fixed-income securities will generally fall. In addition, the credit quality of the securities may deteriorate, which could lead to default or bankruptcy of the issuer where the issuer becomes unable to pay its obligations when due. Because a significant portion of securities held by the Fund may have variable or floating interest rates, the amount of the Fund's monthly distributions to shareholders are expected to vary. Generally when market interest rates fall, the amount of the distributions will decrease. Investments in high-yield, high risk bonds can involve a substantial risk of loss. An active trading style can result in higher turnover (exceeding 100%), may translate to higher transaction costs, may increase your tax liability, and may affect Fund performance. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company’s ESG performance.


Management

Biography

Vishal Khanduja, CFA

Vice President, Calvert Research and Management
Joined Eaton Vance 2016

Vishal Khanduja is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's diversified fixed-income team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's diversified fixed-income strategies. He joined Eaton Vance in 2016.

Vishal began his career in the investment management industry in 2005. Before joining Eaton Vance, he was a senior vice president, portfolio manager and head of taxable fixed income for Calvert Investments. Previously, he was a vice president and portfolio manager at Columbia Management and associate director of fixed-income analytics at Galliard Capital.

Vishal earned a bachelor of engineering from Veermata Jijabai Technological Institute in Mumbai, India and an MBA from the Tippie School of Management at the University of Iowa. He is a member of the CFA Institute, the CFA Society of Washington, D.C. and the Global Association of Risk Professionals. He is a CFA charterholder.

Education
  • B.Eng., Veermata Jijabai Technological Institute, Mumbai
  • M.B.A., Tippie School of Management, University of Iowa

Experience
  • Managed Fund since 2012

 
Biography

Brian S. Ellis, CFA

Vice President, Calvert Research and Management
Joined Eaton Vance 2016

Brian Ellis is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's diversified fixed-income team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's diversified fixed-income strategies. He joined Eaton Vance in 2016.

Brian began his career in the investment management industry in 2006. Before joining Eaton Vance, he was a portfolio manager of fixed-income strategies for Calvert Investments. Previously, he was a software engineer and analyst at Legg Mason Capital Management (now ClearBridge Investments).

Brian earned a B.S. in finance from Salisbury University. He is a member of the CFA Institute and the CFA Society of Washington, D.C. He is a CFA charterholder.

Education
  • B.S., Salisbury University

Experience
  • Managed Fund since 2015

 

Literature

Literature

Fact Sheet

Download - Last updated: Dec 31, 2016

Responsible Allocation Models Overview

Download - Last updated: Dec 31, 2016

Commentary

Download - Last updated: Dec 31, 2016

Attribution

Download - Last updated: Dec 31, 2016

Annual Report

Download - Last updated: Sep 30, 2016

Full Prospectus

Download - Last updated: Feb 1, 2017

SAI

Download - Last updated: Feb 1, 2017

Semi-Annual Report

Download - Last updated: Mar 31, 2016

Summary Prospectus

Download - Last updated: Mar 7, 2017

XBRL

Download - Last updated: Feb 1, 2017