The Eaton Vance Corporation (NYSE: EV) is one of the oldest and highly reputable investment management companies in the United States; it was founded in 1924. Eaton Vance operates in the wealth management business through multiple affiliates, such as Eaton Vance Management, Parametric, Atlanta Capital and Hexavest. Each subsidiary offers its own investment strategies and wealth management solutions to individual and institutional investors at a reasonable cost.
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class C (ECLTX)
Assets Under Management (AUM): $472 million
2010-2015 Average Annual Net Asset Value (NAV) Return: 6.94%
Net Expense Ratio: 1.42%
The Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class C seeks current income exempt from federal income tax. The fund primarily invests in investment-grade municipal obligations with maturities ranging between five and 15 years. The fund's portfolio has an average duration of 6.7 years and consists of bonds with the average rating of AA. No single bond has over 2% allocation, and the fund is fairly well diversified across different states. The fund's 30-day SEC yield is 0.23%.
The fund's manager, James Evans, has over 25 years of industry experience and has been with the fund since 2008. In the muni national intermediate category, the Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class C has received a five-star overall rating from Morningstar. The fund charges a load fee of 1% and requires an investment in excess of $1,000 from potential investors.
Eaton Vance Short Duration Strategic Income Fund Class R (ERSIX)
AUM: $2.3 billion
2010-2015 Average Annual NAV Return: 2.39%
Net Expense Ratio: 1.31%
The Eaton Vance Short Duration Strategic Income Fund Class R seeks total return by investing in a wide variety of fixed-income securities, including U.S. government agency mortgage-backed securities (MBS), preferred and convertible securities, high-yield corporate debt and foreign bonds. Over 60% of the fund's portfolio is of investment grade and is concentrated in U.S. corporate bonds with 33% allocation. The fund has a very low average duration that approaches zero years. Its 30-day SEC yield stands at 3.62% as of Nov. 30, 2015.
The Eaton Vance Short Duration Strategic Income Fund Class R does not charge its investors any load fees and requires a minimum investment of $1,000. The fund has earned a four-star overall rating from Morningstar in the short-term bond category.
Eaton Vance Stock Fund Class A (EAERX)
AUM: $106.57 million
2010-2015 Average Annual NAV Return: 15.84%
Net Expense Ratio: 0.98%
The Eaton Vance Stock Fund Class A invests in a diversified portfolio of equity securities of companies with large market capitalizations. The fund uses fundamental analysis and typically maintains its holdings in all sectors as represented by the S&P 500 Index. Information technology stocks have the largest allocation of about 20% within the fund's portfolio, while financials equities account for 16% of the fund's assets. No single holding has over 4% weight, and the top 10 holdings include well-known U.S. companies, such as Apple, Alphabet, Johnson & Johnson and General Electric.
The fund operates within the large blend category and has received a four-star overall rating from Morningstar. To provide incentive for long-term investing into its shares, the Eaton Vance Stock Fund Class A charges a load fee of 5.75%. Investors are expected to contribute at least $2,500 as an initial investment into the fund.
Parametric International Equity Fund Investor Class (EAISX)
AUM: $122.96 million
2010-2015 Average Annual NAV Return: 3.95%
Net Expense Ratio: 0.90%
The Parametric International Equity Fund Investor Class invests in a diversified portfolio of equities of companies that are domiciled outside of the United States and are included in the MSCI EAFE Index. The fund uses a rules-based, top-down approach to select holdings and takes advantage of quantitative and behavioral characteristics of foreign markets. The fund is fairly well diversified across different economic sectors with no single sector having more than 12% weight in the fund's portfolio. U.K. stocks and Japanese equities have the largest allocations of 15% each. Other countries represented in the fund's portfolio include France, Switzerland, Austria and Germany. Investors should keep in mind that this fund is exposed to currency risks and may not perform well in U.S. dollar terms due to foreign currency fluctuations.
In the foreign large blend category, Morningstar has assigned a four-star overall rating to the fund. While the fund does not charge load fees, it comes with a minimum investment requirement of $2,500.