Overview
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| Annualized | |||||||
| 1 Mo. | 3 Mos. | YTD | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
| Fund at NAV | -1.17 | 1.59 | 1.59 | 7.37 | 4.82 | 7.91 | 4.74 |
| Market Price | -1.92 | 4.37 | 4.37 | 12.33 | 5.16 | 9.36 | 5.44 |
| 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. Fund performance during certain periods reflects the strong loan market performance and the Fund’s use of leverage during those periods. This performance is not typical and may not be repeated. | |||||||
| as of Jun 17, 2025 | |
| Distribution Rate at NAV | 8.38% |
| Distribution Rate at Market Price | 8.66% |
| Performance Inception | 05/30/2003 |
| Investment Objective | High current income |
| Total Net Assets | $1.2B |
| CUSIP | 27828H105 |
| as of Annual Report dated 03/31/2024 | |
| Management Fees | 1.10 |
| Other Expenses | 0.17 |
| Total Expenses (ex Interest and Fee Expense) | 1.27 |
| Interest and Fee Expense | 2.09 |
| Total Expenses | 3.36 |
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.
Performance
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|
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| Annualized | |||||||
| 1 Mo. | 3 Mos. | YTD | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
| Fund at NAV | -1.17 | 1.59 | 1.59 | 7.37 | 4.82 | 7.91 | 4.74 |
| Market Price | -1.92 | 4.37 | 4.37 | 12.33 | 5.16 | 9.36 | 5.44 |
| 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. Fund performance during certain periods reflects the strong loan market performance and the Fund’s use of leverage during those periods. This performance is not typical and may not be repeated. | |||||||
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| Fund at NAV | -0.62 | 14.53 | 6.73 | -1.04 | 12.08 | 5.00 | 5.38 | -11.39 | 14.04 | 7.39 |
| Market Price | -1.20 | 17.35 | 6.76 | -6.08 | 18.82 | 4.87 | 14.60 | -19.74 | 13.31 | 12.24 |
| Performance Inception | 05/30/2003 |
| as of Jun 17, 2025 | |
| Distribution Rate at NAV | 8.38% |
| Distribution Rate at Market Price | 8.66% |
| Ex-Date | Distribution | Reinvest Price |
| Jun 13, 2025 | $0.07260 | |
| May 13, 2025 | $0.07230 | |
| Apr 11, 2025 | $0.07250 | |
| Mar 13, 2025 | $0.07390 | |
| Feb 13, 2025 | $0.07320 | |
| Jan 13, 2025 | $0.07290 | |
| Dec 12, 2024 | $0.07940 | |
| Nov 11, 2024 | $0.07910 | |
| Oct 11, 2024 | $0.08090 | $10.36 |
| Sep 13, 2024 | $0.08060 | |
| View All | ||
| No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years. |
| Ordinary Dividends | ||||||||
| Non-Qualified | Qualified | Total | Capital Gain Distributions | Nondividend Distributions | Total Distributions | |||
| Distributions ($) | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | $0.54 | $0.00 | $0.54 | $0.00 | $0.46 | $1.00 | ||
| 2022 | $0.68 | $0.00 | $0.68 | $0.00 | $0.52 | $1.20 | ||
| 2021 | $0.76 | $0.03 | $0.79 | $0.00 | $0.41 | $1.20 | ||
| 2020 | $1.02 | $0.00 | $1.02 | $0.00 | $0.18 | $1.20 | ||
| 2019 | $0.85 | $0.00 | $0.85 | $0.00 | $0.00 | $0.85 | ||
| 2018 | $0.78 | $0.00 | $0.78 | $0.00 | $0.15 | $0.93 | ||
| 2017 | $0.85 | $0.01 | $0.87 | $0.00 | $0.12 | $0.99 | ||
| 2016 | $1.03 | $0.02 | $1.05 | $0.00 | $0.11 | $1.16 | ||
| 2015 | $1.18 | $0.02 | $1.20 | $0.00 | $0.02 | $1.22 | ||
| 2014 | $1.16 | $0.02 | $1.18 | $0.00 | $0.04 | $1.22 | ||
| 2013 | $1.18 | $0.01 | $1.19 | $0.00 | $0.03 | $1.22 | ||
| 2012 | $1.21 | $0.00 | $1.21 | $0.00 | $0.04 | $1.25 | ||
| 2011 | $1.12 | $0.00 | $1.12 | $0.00 | $0.05 | $1.17 | ||
| 2010 | $1.39 | $0.00 | $1.39 | $0.00 | $0.00 | $1.39 | ||
| 2009 | $1.41 | $0.00 | $1.41 | $0.00 | $0.02 | $1.43 | ||
| 2008 | $1.31 | $0.00 | $1.31 | $0.00 | $0.00 | $1.31 | ||
| 2007 | $1.51 | $0.00 | $1.51 | $0.00 | $0.00 | $1.51 | ||
| 2006 | $1.51 | $0.00 | $1.51 | $0.00 | $0.00 | $1.51 | ||
| 2005 | $1.53 | $0.00 | $1.53 | $0.00 | $0.00 | $1.53 | ||
| Distributions (%) | ||||||||
| 2023 | 53.53% | 0.00% | 53.53% | 0.00% | 46.47% | 100.00% | ||
| 2022 | 56.71% | 0.06% | 56.76% | 0.00% | 43.24% | 100.00% | ||
| 2021 | 63.22% | 2.57% | 65.79% | 0.00% | 34.21% | 100.00% | ||
| 2020 | 85.03% | 0.00% | 85.03% | 0.00% | 14.97% | 100.00% | ||
| 2019 | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 100.00% | ||
| 2018 | 84.47% | 0.00% | 84.47% | 0.00% | 15.53% | 100.00% | ||
| 2017 | 86.55% | 1.30% | 87.85% | 0.00% | 12.15% | 100.00% | ||
| 2016 | 89.04% | 1.65% | 90.69% | 0.00% | 9.31% | 100.00% | ||
| 2015 | 96.98% | 1.10% | 98.08% | 0.00% | 1.92% | 100.00% | ||
| 2014 | 95.25% | 1.31% | 96.56% | 0.00% | 3.44% | 100.00% | ||
| 2013 | 96.95% | 0.37% | 97.32% | 0.00% | 2.68% | 100.00% | ||
| 2012 | 96.55% | 0.00% | 96.55% | 0.00% | 3.45% | 100.00% | ||
| 2011 | 95.30% | 0.00% | 95.30% | 0.00% | 4.70% | 100.00% | ||
| 2010 | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 100.00% | ||
| 2009 | 98.38% | 0.00% | 98.38% | 0.00% | 1.62% | 100.00% | ||
| 2008 | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 100.00% | ||
| 2007 | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 100.00% | ||
| 2006 | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 100.00% | ||
| 2005 | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 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.
Portfolio
| Holding | Coupon Rate | Maturity Date | % of Net Assets |
| Fannie Mae or Freddie Mac | 6.00% | 03/01/2052 | 5.01% |
| Freddie Mac REMICS | 6.00% | 05/25/2054 | 3.05% |
| Freddie Mac Pool - SD8239 | 5.00% | 08/01/2052 | 3.04% |
| Government National Mortgage Association | 6.50% | 11/20/2053 | 2.58% |
| Fannie Mae or Freddie Mac | 5.50% | 03/01/2052 | 2.06% |
| BlackRock Corporate High Yield Fund Inc | 0.00% | 1.76% | |
| Freddie Mac REMICS | 6.00% | 06/25/2054 | 1.36% |
| Fannie Mae REMICS | 0.13% | 12/25/2053 | 1.33% |
| Ginnie Mae II Pool - MA9853 | 6.50% | 08/20/2054 | 1.22% |
| MSILF GOVERNMENT PORTFOLIO MSILF GOVERNMENT PORTFOLIO | 4.26% | 12/31/2030 | 1.14% |
| 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.
Management
Catherine McDermott
Managing Director, Portfolio Manager
Joined Eaton Vance 2000
Biography
Catherine McDermott is a Portfolio Manager on the Floating-Rate Loan team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. Her focus is primarily on the automotive industry in addition to casinos, general industrial, theaters, packaging and consumer products. She joined Eaton Vance in 2000. Morgan Stanley acquired Eaton Vance in March 2021.
Catherine began her career in the investment management industry in 1988. Before joining Eaton Vance, she was a principal at Cypress Tree Investment Management and a vice president of corporate underwriting and research at Financial Security Assurance Inc.
Catherine earned a B.A., summa cum laude, from Boston College.
Education
- B.A. Boston College
Experience
- Managed Fund since 2008
Other funds managed
Andrew Szczurowski, CFA
Managing Director, Co-Head of Mortgage & Securitized
Joined Eaton Vance 2007
Biography
Andrew Szczurowski is Co-Head of the Mortgage and Securitized investment team and a portfolio manager on Mortgage and Securitized investment team. He joined Eaton Vance in 2007. Morgan Stanley acquired Eaton Vance in March 2021. Previously at Eaton Vance, he was a portfolio manager on Eaton Vance's Global Income team, responsible for buy and sell decisions, portfolio construction, and risk management for the firm's mortgage-backed strategies.
Andrew began his career in the investment industry in 2005. Before joining Eaton Vance, he was affiliated with BNY Mellon. Andrew earned a B.S., cum laude, from the Peter T. Paul College of Business and Economics at the University of New Hampshire. He holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston.
Education
- B.S. University of New Hampshire
Experience
- Managed Fund since 2011
Other funds managed
Kelley Gerrity
Managing Director, Portfolio Manager
Biography
Kelley Gerrity is a portfolio manager on the High Yield team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm's high yield strategies. She joined Eaton Vance in 2005. Morgan Stanley acquired Eaton Vance in March 2021.
Kelley began her career in the investment management industry in 2000. Before joining Eaton Vance, she was the director of high-yield distressed research at Fieldstone Capital Group. Previously, she was associate director of fixed-income research at Scotia Capital Markets, Inc.
Kelley earned a B.A. from Boston College and a certificate in credit analysis from New York University.
Education
- B.A. Boston College
Experience
- Managed Fund since 2019
Tara O'Brien
Executive Director
Joined Eaton Vance in 2007
Biography
Tara is an executive director of Morgan Stanley Investment Management and portfolio manager on the mortgage-backed securities (MBS) team. She is responsible for buy and sell decisions, portfolio construction and risk management.
Tara began her career in the investment management industry in 2007 with Eaton Vance. Morgan Stanley acquired Eaton Vance in March 2021.
Tara earned a B.A. from Baldwin Wallace University.
Education
- BA Baldwin Wallace University
Experience
- Managed Fund since 2023
Bo Hunt
Managing Director, Portfolio Manager
Joined Eaton Vance in 2016
Biography
Bo Hunt is a portfolio manager at the Fund's sub-adviser, Morgan Stanley Investment Management Ltd., and a member of the High Yield team. He is responsible for buy and sell decisions, portfolio construction, and risk management for the team's European and global high-yield strategies.
Bo began his career in the investment industry in 2002. He joined Eaton Vance in 2016. Morgan Stanley acquired Eaton Vance in March 2021. Previously, he was a credit analyst at Fidelity International in London and a distressed debt analyst at Bank of America Merrill Lynch.
Bo earned a B.S. in economics from the Wharton School at the University of Pennsylvania.
Education
- BS Wharton School at the University of Pennsylvania
Experience
- Managed Fund since 2024
Literature
Literature
Fact Sheet
Download Fact Sheet - Last updated: Mar 31, 2025
Report of Organizational Actions Affecting Basis of Securities
Download Report of Organizational Actions Affecting Basis of Securities - Last updated: May 5, 2021
Report of Organizational Actions Affecting Basis of Securities
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Annual Report
Q1 Holdings
Q3 Holdings
Holdings - Form N-PORT
Return of Capital Distributions Demystified
Download Return of Capital Distributions Demystified - Last updated: Feb 27, 2025
Information Concerning APS Auctions and Dividend Rates
Download Information Concerning APS Auctions and Dividend Rates - Last updated: Jun 17, 2025
Auction Preferred Shares Market Update
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds
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