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Trending ETFs

Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares

Active ETF
EVLMC
Payout Change
Suspended
Price as of:
$99.96 -0.06 -0.06%
primary theme
N/A
EVLMC (ETF)

Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares

Payout Change
Suspended
Price as of:
$99.96 -0.06 -0.06%
primary theme
N/A
EVLMC (ETF)

Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares

Payout Change
Suspended
Price as of:
$99.96 -0.06 -0.06%
primary theme
N/A

Name

As of 09/01/2020

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$99.96

$1.16 M

0.00%

1.91%

Vitals

YTD Return

0.0%

1 yr return

0.0%

3 Yr Avg Return

0.0%

5 Yr Avg Return

0.0%

Net Assets

$1.16 M

Holdings in Top 10

14.8%

52 WEEK LOW AND HIGH

$100.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 22.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 09/01/2020

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$99.96

$1.16 M

0.00%

1.91%

EVLMC - Profile

Distributions

  • YTD Total Return -8.0%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.73%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares
  • Fund Family Name
    Eaton Vance
  • Inception Date
    Mar 30, 2016
  • Shares Outstanding
    125000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian Barney

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligations, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser or sub-adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser or sub-adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds.  In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the five-to-fifteen year maturity range (the “weighted investment strategy”).  The Fund does not have a specific target for its average portfolio duration.  When a municipal obligation has a final maturity of less than five years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities.  With respect to the Fund's weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 15 years within 90 days of the beginning of the calendar year.  The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the five-to-fifteen year maturity range during each year.

The investment sub-adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market.  In evaluating creditworthiness, the investment sub-adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.  The portfolio managers may also trade securities to seek to minimize capital gains to investors. The portfolio managers may also consider financially material environmental, social and governance factors in evaluating an issuer.  These considerations may be taken into account alongside other factors in the investment selection process.

The Fund currently invests its assets in the Portfolio, a separate registered investment company with substantially the same investment objective and policies as the Fund.

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EVLMC - Performance

Return Ranking - Trailing

Period EVLMC Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -60.4% 28.9% 92.56%
1 Yr 0.0% -45.4% 15.3% 12.23%
3 Yr 0.0%* -20.5% 51.8% 9.90%
5 Yr 0.0%* -11.3% 29.5% 11.43%
10 Yr 0.0%* -5.1% 14.2% 15.34%

* Annualized

Return Ranking - Calendar

Period EVLMC Return Category Return Low Category Return High Rank in Category (%)
2023 0.3% -76.8% 4.7% 4.13%
2022 0.1% -69.5% 12.4% 27.96%
2021 0.1% -66.1% 60.0% 87.99%
2020 18.9% -57.4% 18.9% 0.06%
2019 0.0% -30.0% 2.1% 3.78%

Total Return Ranking - Trailing

Period EVLMC Return Category Return Low Category Return High Rank in Category (%)
YTD -8.0% -60.4% 28.9% 97.85%
1 Yr -7.7% -45.4% 14.5% 98.78%
3 Yr 0.3%* -20.5% 51.8% 11.59%
5 Yr 1.5%* -11.3% 29.5% 10.18%
10 Yr N/A* -5.1% 14.3% N/A

* Annualized

Total Return Ranking - Calendar

Period EVLMC Return Category Return Low Category Return High Rank in Category (%)
2023 0.3% -76.8% 4.7% 4.13%
2022 0.1% -69.5% 12.4% 28.02%
2021 0.1% -66.1% 60.0% 87.99%
2020 18.9% -57.4% 18.9% 0.06%
2019 0.0% -30.0% 2.1% 7.70%

EVLMC - Holdings

Concentration Analysis

EVLMC Category Low Category High EVLMC % Rank
Net Assets 1.16 M 1.16 M 73.9 B 100.00%
Number of Holdings 534 1 14000 24.39%
Net Assets in Top 10 117 M -317 M 8.64 B 35.56%
Weighting of Top 10 14.82% 2.4% 101.7% 59.64%

Top 10 Holdings

  1. BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 4% 2.14%
  2. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 2.13%
  3. MAIN STR NAT GAS INC GA GAS SUPPLY REV 4% 2.07%
  4. TRIBOROUGH BRDG & TUNL AUTH N Y REVS 5% 2.01%
  5. NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY HSG REV 0.65% 1.89%
  6. KENTUCKY ECONOMIC DEV FIN AUTH REV 1.84% 1.62%
  7. ILLINOIS ST 5% 1.51%
  8. SEATTLE WASH MUN LT & PWR REV 4% 1.46%
  9. NEW YORK N Y 5% 1.45%
  10. MASSACHUSETTS ST HEALTH & EDL FACS AUTH 0.65% 1.43%

Asset Allocation

Weighting Return Low Return High EVLMC % Rank
Bonds
98.15% 65.51% 150.86% 59.71%
Cash
1.85% -50.86% 33.96% 38.77%
Stocks
0.00% -0.03% 4.63% 56.74%
Preferred Stocks
0.00% -1.79% 0.04% 55.12%
Other
0.00% -13.03% 30.01% 55.18%
Convertible Bonds
0.00% 0.00% 0.93% 55.30%

Bond Sector Breakdown

Weighting Return Low Return High EVLMC % Rank
Municipal
98.15% 44.39% 100.00% 57.28%
Cash & Equivalents
1.85% 0.00% 33.95% 41.56%
Derivative
0.00% 0.00% 3.41% 99.07%
Securitized
0.00% 0.00% 5.93% 100.00%
Corporate
0.00% 0.00% 9.99% 64.03%
Government
0.00% 0.00% 52.02% 58.44%

Bond Geographic Breakdown

Weighting Return Low Return High EVLMC % Rank
US
98.15% 37.86% 142.23% 32.77%
Non US
0.00% 0.00% 62.14% 91.21%

EVLMC - Expenses

Operational Fees

EVLMC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.91% 0.02% 6.50% 1.71%
Management Fee 0.32% 0.00% 1.10% 19.66%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

EVLMC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

EVLMC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

EVLMC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 283.00% 65.64%

EVLMC - Distributions

Dividend Yield Analysis

EVLMC Category Low Category High EVLMC % Rank
Dividend Yield 0.00% 0.00% 4.44% 88.01%

Dividend Distribution Analysis

EVLMC Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

EVLMC Category Low Category High EVLMC % Rank
Net Income Ratio 1.73% -0.53% 5.33% 62.39%

Capital Gain Distribution Analysis

EVLMC Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Monthly Monthly

Distributions History

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EVLMC - Fund Manager Analysis

Managers

Brian Barney


Start Date

Tenure

Tenure Rank

Mar 30, 2016

6.17

6.2%

Mr. Barney is a Managing Director, Institutional Portfolio Management of Parametric..Brian C. Barney was Vice President of Eaton Vance and had been managing the Fund since June 2010. Prior to joining Eaton Vance in 2008, Mr. Barney was employed at M.D. Sass from 2001-2008. Brian C. Barney holds a BS from University of Virginia and a CFA.

Devin Cooch


Start Date

Tenure

Tenure Rank

Nov 02, 2021

0.58

0.6%

Devin Cooch is a Vice President and Portfolio Manager for Eaton Vance Management. Prior to joining Eaton Vance in 2009, Mr. Cooch was employed by M.D. Sass. Mr. Cooch holds a BA in economics from Bucknell University and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.23 1.58