Eaton Vance Emerging Markets Debt Opportunities Fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
13.1%
1 yr return
16.0%
3 Yr Avg Return
5.6%
5 Yr Avg Return
5.6%
Net Assets
$1.68 B
Holdings in Top 10
19.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.11%
SALES FEES
Front Load 3.25%
Deferred Load N/A
TRADING FEES
Turnover 87.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
EADOX - Profile
Distributions
- YTD Total Return 13.1%
- 3 Yr Annualized Total Return 5.6%
- 5 Yr Annualized Total Return 5.6%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 6.03%
- Dividend Yield 8.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameEaton Vance Emerging Markets Debt Opportunities Fund
-
Fund Family NameEATONVANCE
-
Inception DateSep 03, 2015
-
Shares Outstanding7664645
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Baur
Fund Description
The Fund normally seeks its investment objective of total return by investing in securities (including income instruments), derivatives and other instruments to establish long and short investment exposures to emerging markets. Total return is defined as income plus capital appreciation. Under normal conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in (i) income instruments issued by emerging market entities or sovereign nations, and/or (ii) derivative instruments denominated in or based on the currencies, interest rates or issues of emerging market countries (the “80% Policy”). Except as noted below, the Fund’s short investment exposures to emerging markets will not exceed 20% of net assets and its short exposures to the euro will not exceed 30% of net assets (after netting corresponding long positions). The Fund expects to hold U.S. Treasury, government agency and agency mortgage-backed securities (“MBS”) (and derivatives thereon), and stripped securities to use as collateral for its derivative positions and to help manage duration. The limitations on short exposures do not apply to positions intended to manage exposure to duration. The Fund is “non-diversified,” which means it may invest a greater percentage of its assets in the securities of a single issuer than a “diversified” fund..
The Fund seeks to outperform its benchmark, the J.P. Morgan Emerging Markets Bond (JEMB) Hard Currency/Local Currency 50-50 (the “Index”), however there can be no assurance that it will do so. Under normal market conditions, the investment adviser seeks to meet the Target Ranges to its Index set forth below for each specified Category over a full market cycle (typically 5-7 years); however, the Fund’s actual or realized results may be materially higher or lower depending on market conditions and results over shorter or longer market cycles may differ. The following Target Ranges are included to illustrate the targeted Category characteristics of the Fund.
Category | Target Ranges |
Excess Return | Index + 2.5% |
Tracking Error | 3% to 6% |
Information Ratio | >0.5 |
Beta | 0.7 to 1.1 |
Volatility | 5% to 8% |
Interest-Rate Duration | 1 to 8 years |
Credit-Spread Duration | 0 to 6 years |
The Fund seeks to generate return/alpha through its country selection, currency management, trading/execution, security selection and duration decisions (listed in anticipated order of contribution, but results may differ).
The Fund will have significant exposure to foreign currencies and duration and its investments in a particular geographic region or country also may be significant. The Fund’s investment adviser has broad discretion to identify and invest in countries that it considers to qualify as emerging markets. An emerging market country is any country determined by the Fund’s investment adviser to have an emerging market economy, considering factors such as the country’s political and economic stability, and the development of its financial and capital markets. Emerging market countries include so-called frontier market countries, which generally are considered by the portfolio managers to be emerging market countries that: (i) are not included in the Index, or (ii) represent 2% or less of the Index. An emerging market entity is an entity that is located in, or issues securities or other investments denominated in the currency of, an emerging market country or has significant economic exposure to an emerging market, including but not limited to corporate, national and local governments, and quasi-government entities. The Fund may invest in developed countries for purposes such as: (i) hedging; (ii) gaining exposure to fixed-income securities denominated in currencies of emerging market countries; and (iii) investments (including through derivative investments) in U.S. Treasuries, U.S. government agency securities, and agency mortgage-backed securities. The investment adviser currently considers the following countries to be developed: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom and United States.
The Fund invests in fixed-income securities of any credit rating or that are unrated, including without limit those rated below investment grade (often referred to as junk bonds) and other debt instruments and may purchase and sell a wide variety of derivative instruments. The Fund expects to achieve certain exposures primarily through derivative transactions, including (but not limited to) forward foreign currency exchange contracts; futures on securities, indices, currencies, swaps and other investments; options; and interest rate swaps, cross-currency swaps, total return swaps and credit default swaps, which may create economic leverage in the Fund. Except as required by applicable regulation, there is no stated limit on the Fund’s use of derivatives. The Fund’s use of derivatives is expected to be extensive. The Fund may engage in derivative transactions to enhance total return, to seek to hedge against fluctuations in securities prices, interest rates or
currency exchange rates, to change the effective duration of its portfolio, to manage certain investment risks, for speculation purposes to gain certain types of exposures and/or as a substitute for the purchase or sale of securities or currencies. The Fund may use derivatives to implement various systematic investment processes, including taking long and short interest rate positions across various emerging markets to seek to enhance total return. The Fund may engage in repurchase agreements, reverse repurchase agreements and forward commitments.
In managing the Fund, the investment adviser adjusts investments in an effort to take advantage of differences in countries, currencies, interest rates and credits based on its global macroeconomic and political analysis. The investment adviser seeks to identify countries and currencies it believes have potential to outperform investments in other countries and currencies, and to anticipate changes in global economies, markets, political conditions and other factors for this purpose. The investment adviser considers the relative risk/return characteristics of prospective investments (whether securities, currencies, derivatives or other instruments) in determining the most efficient means for achieving desired exposures. When deemed by the investment adviser to be relevant to its evaluation of creditworthiness and when applicable information is available, the investment adviser considers environmental, social and/or governance issues (referred to as ESG) which may impact the prospects of an issuer (or obligor) or financial performance of an obligation. When considered, one or more ESG issues are taken into account alongside other factors in the investment decision-making process and are not the sole determinant of whether an investment can be made or will remain in the Fund’s portfolio. These considerations may be taken into account alongside other fundamental research in the investment selection process.
EADOX - Performance
Return Ranking - Trailing
Period | EADOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 13.1% | -6.0% | 465.2% | 3.06% |
1 Yr | 16.0% | -3.7% | 487.9% | 7.14% |
3 Yr | 5.6%* | -8.3% | 59.2% | 1.76% |
5 Yr | 5.6%* | -7.3% | 29.2% | 1.48% |
10 Yr | N/A* | -5.5% | 14.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | EADOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.8% | -10.6% | 17.8% | 91.50% |
2022 | -14.3% | -29.1% | -2.4% | 16.90% |
2021 | -5.9% | -24.0% | 2.7% | 30.00% |
2020 | -1.0% | -14.0% | 9.7% | 76.38% |
2019 | 9.0% | -6.4% | 13.0% | 30.34% |
Total Return Ranking - Trailing
Period | EADOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 13.1% | -6.0% | 465.2% | 3.06% |
1 Yr | 16.0% | -3.7% | 487.9% | 7.14% |
3 Yr | 5.6%* | -8.3% | 59.2% | 1.76% |
5 Yr | 5.6%* | -7.3% | 29.2% | 1.48% |
10 Yr | N/A* | -5.5% | 14.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | EADOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.1% | -0.6% | 20.0% | 63.95% |
2022 | -6.4% | -27.6% | -1.7% | 5.28% |
2021 | 1.2% | -18.5% | 7.4% | 4.64% |
2020 | 7.1% | -7.8% | 18.0% | 23.25% |
2019 | 17.2% | -3.0% | 23.0% | 5.62% |
NAV & Total Return History
EADOX - Holdings
Concentration Analysis
EADOX | Category Low | Category High | EADOX % Rank | |
---|---|---|---|---|
Net Assets | 1.68 B | 565 K | 14.8 B | 12.24% |
Number of Holdings | 682 | 4 | 1860 | 21.09% |
Net Assets in Top 10 | 455 M | -134 M | 1.25 B | 15.65% |
Weighting of Top 10 | 19.32% | 5.8% | 102.2% | 49.14% |
Top 10 Holdings
- Morgan Stanley Institutional Liquidity Funds - Government Portfolio 3.68%
- Serbia Treasury Bonds 2.55%
- Republic of Cameroon International Bond 2.37%
- Dominican Republic International Bond 1.80%
- Tanzania 2024 Term Loan A2 1.70%
- Ethiopia International Bond 1.58%
- Egypt Treasury Bills 1.55%
- Indonesia Treasury Bond 1.42%
- Egypt Treasury Bills 1.38%
- Suriname Government International Bond 1.29%
Asset Allocation
Weighting | Return Low | Return High | EADOX % Rank | |
---|---|---|---|---|
Bonds | 77.58% | 0.00% | 105.61% | 95.58% |
Cash | 22.17% | 0.00% | 24.01% | 1.70% |
Convertible Bonds | 1.53% | 0.00% | 8.47% | 13.75% |
Other | 0.25% | -13.89% | 86.73% | 37.07% |
Stocks | 0.00% | -0.01% | 96.53% | 75.51% |
Preferred Stocks | 0.00% | 0.00% | 2.76% | 64.29% |
Bond Sector Breakdown
Weighting | Return Low | Return High | EADOX % Rank | |
---|---|---|---|---|
Government | 50.55% | 0.00% | 99.79% | 70.79% |
Corporate | 28.44% | 0.00% | 91.26% | 28.52% |
Cash & Equivalents | 15.10% | 0.00% | 23.23% | 1.70% |
Derivative | 0.25% | -3.00% | 13.76% | 22.45% |
Securitized | 0.00% | 0.00% | 2.41% | 68.73% |
Municipal | 0.00% | 0.00% | 0.00% | 63.57% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | EADOX % Rank | |
---|---|---|---|---|
US | 44.74% | -42.31% | 99.15% | 64.63% |
Non US | 32.83% | 0.00% | 132.49% | 41.50% |
EADOX - Expenses
Operational Fees
EADOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.11% | 0.02% | 32.92% | 59.73% |
Management Fee | 0.63% | 0.00% | 1.10% | 32.31% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 41.91% |
Administrative Fee | N/A | 0.02% | 0.65% | N/A |
Sales Fees
EADOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 3.25% | 0.75% | 5.75% | 84.00% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
EADOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
EADOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 87.00% | 0.00% | 218.00% | 77.43% |
EADOX - Distributions
Dividend Yield Analysis
EADOX | Category Low | Category High | EADOX % Rank | |
---|---|---|---|---|
Dividend Yield | 8.27% | 0.00% | 22.22% | 14.97% |
Dividend Distribution Analysis
EADOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Quarterly | Quarterly |
Net Income Ratio Analysis
EADOX | Category Low | Category High | EADOX % Rank | |
---|---|---|---|---|
Net Income Ratio | 6.03% | -2.28% | 8.00% | 5.57% |
Capital Gain Distribution Analysis
EADOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 30, 2024 | $0.055 | OrdinaryDividend |
Sep 27, 2024 | $0.055 | OrdinaryDividend |
Aug 29, 2024 | $0.055 | OrdinaryDividend |
Jul 30, 2024 | $0.055 | OrdinaryDividend |
May 30, 2024 | $0.054 | OrdinaryDividend |
Apr 29, 2024 | $0.055 | OrdinaryDividend |
Mar 27, 2024 | $0.055 | OrdinaryDividend |
Feb 28, 2024 | $0.055 | OrdinaryDividend |
Jan 30, 2024 | $0.055 | OrdinaryDividend |
Dec 28, 2023 | $0.055 | OrdinaryDividend |
Nov 29, 2023 | $0.055 | OrdinaryDividend |
Oct 30, 2023 | $0.055 | OrdinaryDividend |
Sep 28, 2023 | $0.055 | OrdinaryDividend |
Aug 30, 2023 | $0.055 | OrdinaryDividend |
Jul 28, 2023 | $0.055 | OrdinaryDividend |
Jun 29, 2023 | $0.055 | OrdinaryDividend |
May 30, 2023 | $0.055 | OrdinaryDividend |
Apr 27, 2023 | $0.055 | OrdinaryDividend |
Mar 30, 2023 | $0.055 | OrdinaryDividend |
Feb 27, 2023 | $0.055 | OrdinaryDividend |
Jan 30, 2023 | $0.055 | OrdinaryDividend |
Dec 29, 2022 | $0.018 | OrdinaryDividend |
Dec 29, 2022 | $0.037 | CapitalGainLongTerm |
Nov 29, 2022 | $0.055 | OrdinaryDividend |
Oct 28, 2022 | $0.055 | OrdinaryDividend |
Sep 29, 2022 | $0.055 | OrdinaryDividend |
Aug 30, 2022 | $0.055 | OrdinaryDividend |
Jul 28, 2022 | $0.019 | ReturnOfCapital |
Jul 28, 2022 | $0.035 | OrdinaryDividend |
Jun 29, 2022 | $0.019 | ReturnOfCapital |
Jun 29, 2022 | $0.035 | OrdinaryDividend |
May 27, 2022 | $0.019 | ReturnOfCapital |
May 27, 2022 | $0.035 | OrdinaryDividend |
Apr 28, 2022 | $0.019 | ReturnOfCapital |
Apr 28, 2022 | $0.035 | OrdinaryDividend |
Mar 30, 2022 | $0.019 | ReturnOfCapital |
Mar 30, 2022 | $0.035 | OrdinaryDividend |
Feb 25, 2022 | $0.019 | ReturnOfCapital |
Feb 25, 2022 | $0.035 | OrdinaryDividend |
Jan 28, 2022 | $0.019 | ReturnOfCapital |
Jan 28, 2022 | $0.035 | OrdinaryDividend |
Dec 30, 2021 | $0.054 | OrdinaryDividend |
Nov 29, 2021 | $0.054 | OrdinaryDividend |
Oct 28, 2021 | $0.054 | OrdinaryDividend |
Sep 29, 2021 | $0.054 | OrdinaryDividend |
Aug 30, 2021 | $0.054 | OrdinaryDividend |
Jul 29, 2021 | $0.011 | ReturnOfCapital |
Jul 29, 2021 | $0.033 | OrdinaryDividend |
Jul 29, 2021 | $0.011 | CapitalGainLongTerm |
Jun 29, 2021 | $0.014 | ReturnOfCapital |
Jun 29, 2021 | $0.041 | OrdinaryDividend |
May 27, 2021 | $0.014 | ReturnOfCapital |
May 27, 2021 | $0.041 | OrdinaryDividend |
Apr 29, 2021 | $0.014 | ReturnOfCapital |
Apr 29, 2021 | $0.041 | OrdinaryDividend |
Mar 30, 2021 | $0.014 | ReturnOfCapital |
Mar 30, 2021 | $0.041 | OrdinaryDividend |
Feb 25, 2021 | $0.014 | ReturnOfCapital |
Feb 25, 2021 | $0.041 | OrdinaryDividend |
Jan 28, 2021 | $0.014 | ReturnOfCapital |
Jan 28, 2021 | $0.041 | OrdinaryDividend |
Dec 30, 2020 | $0.054 | OrdinaryDividend |
Nov 27, 2020 | $0.054 | OrdinaryDividend |
Oct 29, 2020 | $0.054 | OrdinaryDividend |
Sep 29, 2020 | $0.054 | OrdinaryDividend |
Aug 28, 2020 | $0.054 | OrdinaryDividend |
Jul 30, 2020 | $0.013 | ReturnOfCapital |
Jul 30, 2020 | $0.041 | OrdinaryDividend |
Jun 29, 2020 | $0.013 | ReturnOfCapital |
Jun 29, 2020 | $0.041 | OrdinaryDividend |
May 28, 2020 | $0.013 | ReturnOfCapital |
May 28, 2020 | $0.041 | OrdinaryDividend |
Apr 29, 2020 | $0.015 | ReturnOfCapital |
Apr 29, 2020 | $0.046 | OrdinaryDividend |
Mar 30, 2020 | $0.015 | ReturnOfCapital |
Mar 30, 2020 | $0.046 | OrdinaryDividend |
Feb 27, 2020 | $0.015 | ReturnOfCapital |
Feb 27, 2020 | $0.046 | OrdinaryDividend |
Jan 30, 2020 | $0.015 | ReturnOfCapital |
Jan 30, 2020 | $0.046 | OrdinaryDividend |
Dec 30, 2019 | $0.061 | OrdinaryDividend |
Dec 30, 2019 | $0.021 | CapitalGainShortTerm |
Nov 27, 2019 | $0.061 | OrdinaryDividend |
Oct 30, 2019 | $0.061 | OrdinaryDividend |
Sep 27, 2019 | $0.061 | OrdinaryDividend |
Aug 29, 2019 | $0.061 | OrdinaryDividend |
Jul 30, 2019 | $0.014 | OrdinaryDividend |
Jun 27, 2019 | $0.061 | OrdinaryDividend |
May 30, 2019 | $0.050 | OrdinaryDividend |
Apr 29, 2019 | $0.050 | OrdinaryDividend |
Mar 28, 2019 | $0.050 | OrdinaryDividend |
Feb 27, 2019 | $0.050 | OrdinaryDividend |
Jan 30, 2019 | $0.050 | OrdinaryDividend |
Dec 28, 2018 | $0.049 | OrdinaryDividend |
Nov 29, 2018 | $0.056 | OrdinaryDividend |
Oct 30, 2018 | $0.056 | OrdinaryDividend |
Sep 27, 2018 | $0.056 | OrdinaryDividend |
Aug 30, 2018 | $0.056 | OrdinaryDividend |
Jul 30, 2018 | $0.056 | OrdinaryDividend |
Jun 28, 2018 | $0.056 | OrdinaryDividend |
May 30, 2018 | $0.056 | OrdinaryDividend |
Apr 27, 2018 | $0.056 | OrdinaryDividend |
Mar 28, 2018 | $0.056 | OrdinaryDividend |
Feb 27, 2018 | $0.056 | OrdinaryDividend |
Jan 30, 2018 | $0.056 | OrdinaryDividend |
Dec 28, 2017 | $0.056 | OrdinaryDividend |
Dec 12, 2017 | $0.056 | ExtraDividend |
Nov 29, 2017 | $0.056 | OrdinaryDividend |
Oct 30, 2017 | $0.056 | OrdinaryDividend |
Sep 28, 2017 | $0.056 | OrdinaryDividend |
Aug 30, 2017 | $0.056 | OrdinaryDividend |
Jul 28, 2017 | $0.056 | OrdinaryDividend |
Jun 29, 2017 | $0.056 | OrdinaryDividend |
May 30, 2017 | $0.056 | OrdinaryDividend |
Apr 27, 2017 | $0.056 | OrdinaryDividend |
Mar 30, 2017 | $0.056 | OrdinaryDividend |
Feb 27, 2017 | $0.056 | OrdinaryDividend |
Jan 30, 2017 | $0.056 | OrdinaryDividend |
Dec 29, 2016 | $0.056 | OrdinaryDividend |
Dec 13, 2016 | $0.203 | OrdinaryDividend |
Nov 29, 2016 | $0.056 | OrdinaryDividend |
Oct 28, 2016 | $0.056 | OrdinaryDividend |
Dec 15, 2015 | $0.118 | OrdinaryDividend |
EADOX - Fund Manager Analysis
Managers
John Baur
Start Date
Tenure
Tenure Rank
Feb 04, 2013
9.32
9.3%
John is a vice president since 2007 and a portfolio manager since 2008 at Eaton Vance. He covers Latin America and joined Eaton Vance in 2004. He has previously been employed at Applied Materials, Inc. in California, Taiwan and Singapore. John earned his M.B.A with honors from the Johnson Graduate School of Management at Cornell University, and his B.S. in Mechanical Engineering from MIT.
Akbar Causer
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Mr. Causer has managed the Fund since June 2021. He is a Vice President of Eaton Vance and has been employed by Eaton Vance since 2017. Prior to joining Eaton Vance, Mr. Causer worked as a Senior Analyst at DDJ Capital Management from 2013-2017.
Brian Shaw
Start Date
Tenure
Tenure Rank
Sep 08, 2021
0.73
0.7%
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.15 | 23.87 | 6.5 | 6.11 |