Continue to site >
Trending ETFs

Eaton Vance Tax-Managed Equity Asset Allocation Fund

mutual fund
EAEAX
Payout Change
Pending
Price as of:
$34.08 -0.06 -0.18%
primary theme
U.S. Growth Allocation
EAEAX (Mutual Fund)

Eaton Vance Tax-Managed Equity Asset Allocation Fund

Payout Change
Pending
Price as of:
$34.08 -0.06 -0.18%
primary theme
U.S. Growth Allocation
EAEAX (Mutual Fund)

Eaton Vance Tax-Managed Equity Asset Allocation Fund

Payout Change
Pending
Price as of:
$34.08 -0.06 -0.18%
primary theme
U.S. Growth Allocation

Name

As of 06/14/2024

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

$34.08

$693 M

0.48%

$0.16

1.73%

Vitals

YTD Return

11.0%

1 yr return

20.4%

3 Yr Avg Return

6.2%

5 Yr Avg Return

11.1%

Net Assets

$693 M

Holdings in Top 10

97.2%

52 WEEK LOW AND HIGH

$34.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.73%

SALES FEES

Front Load 5.25%

Deferred Load N/A

TRADING FEES

Turnover 6.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$34.08

$693 M

0.48%

$0.16

1.73%

EAEAX - Profile

Distributions

  • YTD Total Return 11.0%
  • 3 Yr Annualized Total Return 6.2%
  • 5 Yr Annualized Total Return 11.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.35%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Eaton Vance Tax-Managed Equity Asset Allocation Fund
  • Fund Family Name
    EatonVance
  • Inception Date
    Jul 26, 2002
  • Shares Outstanding
    16067279
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Lewis Piantedosi

Fund Description

The Fund invests primarily in tax-managed portfolios sponsored by Eaton Vance Management and its affiliates (“Tax-Managed Portfolios”) that invest at least 80% of their net assets in equity securities.  The Fund may invest up to 25% of its total assets in Tax-Managed Portfolios that primarily invest in small or emerging companies and up to 35% of its total assets in Tax-Managed Portfolios that primarily invest in foreign securities.  The Fund may also invest directly in preferred stocks and other preferred and hybrid securities of U.S. and foreign issuers of any rating category including those rated below investment grade, or unrated.    

Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities (the “80% Policy”), including common and preferred stocks held directly or through the Tax-Managed Portfolios. The Fund may also invest up to 20% of its net assets in other types of preferred and hybrid securities, including those designated as debt by their issuer. The Fund may also invest directly in exchange-traded funds (“ETFs”) that invest in preferred securities and similar instruments. Preferred and other hybrid securities may be issued predominantly by companies in the utilities and financial services sectors and may also be issued by issuers in the real estate industry, including real estate investment trusts (“REITs”). The Fund may also lend its securities. The Fund will at all times allocate its assets among at least three different Tax-Managed Portfolios and normally intends to invest in the five Tax-Managed Portfolios described below.

Tax-Managed Growth Portfolio.  Tax-Managed Growth Portfolio’s investment objective is to achieve long-term, after-tax returns for shareholders through investing in a diversified portfolio of equity securities.  The Portfolio invests primarily in common stocks of growth companies that are considered by the investment adviser to be high in quality and attractive in their long-term investment prospects.  Although it invests primarily in domestic securities, the Portfolio may invest up to 25% of assets in foreign securities, some of which may be issued by companies domiciled in emerging market countries.

Tax-Managed International Equity Portfolio.  Tax-Managed International Equity Portfolio’s investment objective is to achieve long-term, after-tax returns for its shareholders by investing in a diversified portfolio of foreign equity securities.  The Portfolio invests primarily in common stocks of companies domiciled in countries represented in the MSCI Europe, Australasia, Far East (“MSCI EAFE”) Index.  The MSCI EAFE Index is an unmanaged equity index that captures large- and mid-cap companies across twenty-one developed market countries.  Its number of constituents and countries may change over time.  The Portfolio normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities.

Tax-Managed Multi-Cap Growth Portfolio.  Tax-Managed Multi-Cap Growth Portfolio’s investment objective is to achieve long-term, after-tax returns for its shareholders through investing in a portfolio of equity securities.  The Portfolio invests primarily in common stocks of companies that are expected, over the long term, to have earnings growth that is faster than the growth of the U.S. economy and the U.S. stock market as a whole.  Although it invests primarily in U.S. companies, the Portfolio may invest up to 25% of its total assets in foreign securities issued by companies domiciled in developed or emerging market countries.

Tax-Managed Small-Cap Portfolio.  Tax-Managed Small-Cap Portfolio’s investment objective is to achieve long-term, after-tax returns for its shareholders.  The Portfolio invests primarily in a diversified portfolio of common stocks of small-cap companies that, in the opinion of the investment adviser, are expected to achieve earnings growth over the long term that exceeds the average of all publicly-traded small-cap companies in the United States.  The portfolio managers generally consider small-cap companies to be companies having a market capitalization that falls:  (i) within or below the range of companies in the current Russell 2000® Index (the Index); or (ii) below the three-year average maximum market cap of companies in the Index as of December 31 of the three preceding years.  The market capitalizations of companies within the Index are subject to change. The Portfolio normally will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of small-cap companies.  Although it invests primarily in U.S. companies, the Portfolio may invest up to 25% of its total assets in foreign securities issued by companies domiciled in developed or emerging market countries.    

Tax-Managed Value Portfolio.  Tax-Managed Value Portfolio’s investment objective is to achieve long-term, after-tax returns for its shareholders.  The Portfolio normally invests primarily in value stocks.  Value stocks are common stocks that, in the opinion of the investment adviser, are undervalued or inexpensive relative to their intrinsic value or to the overall stock market.  Although it invests primarily in common stocks of U.S. companies, the Portfolio may invest up to 25% of its total assets in foreign securities issued by companies domiciled in developed or emerging market countries.

Eaton Vance has broad discretion to allocate and reallocate the Fund’s assets among the Tax-Managed Portfolios and other investments consistent with the Fund’s investment objective and policies. In allocating the Fund’s assets, the portfolio manager seeks to maintain broad diversification and to emphasize market sectors that Eaton Vance believes offer relatively attractive risk-adjusted return prospects, based on its assessment of current and future market trends and

conditions. In addition, the buy and sell decisions for preferred and other hybrid securities are also affected to a larger degree by the structure and features of the securities and the current and expected interest rate environment.  To the extent possible, adjustments in allocations among market sectors will be made in a tax-efficient manner, generally by investing Fund cash inflows into underweighted allocations and by withdrawing cash from overweighted allocations to reinvest in underweighted allocations. There can be no assurance that there will always be sufficient Fund cash inflows or available cash to alter the Fund’s asset allocation without tax consequences to shareholders.  Eaton Vance may be subject to certain conflicts of interest in fulfilling its duties to the Fund and each Tax-Managed Portfolio.  In making allocation decisions, the portfolio managers must make determinations on the basis of the best interests of the Fund and its shareholders.  Additional information about the Tax-Managed Portfolios can be found in each Portfolio’s Feeder Fund Summary Prospectus or in this Prospectus under “Further Information about the Portfolios.”

Read More

EAEAX - Performance

Return Ranking - Trailing

Period EAEAX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.0% 0.1% 13.1% 16.76%
1 Yr 20.4% 2.5% 23.8% 15.14%
3 Yr 6.2%* -10.2% 6.5% 1.10%
5 Yr 11.1%* 0.8% 12.3% 18.13%
10 Yr 9.3%* 0.0% 12.5% 10.66%

* Annualized

Return Ranking - Calendar

Period EAEAX Return Category Return Low Category Return High Rank in Category (%)
2023 20.1% -6.6% 33.6% 21.08%
2022 -18.8% -44.4% -9.8% 11.48%
2021 18.1% -24.1% 18.9% 6.36%
2020 14.8% -10.9% 60.4% 30.30%
2019 25.1% 5.9% 36.4% 6.37%

Total Return Ranking - Trailing

Period EAEAX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.0% 0.1% 13.1% 16.76%
1 Yr 20.4% 2.5% 23.8% 15.14%
3 Yr 6.2%* -10.2% 6.5% 1.10%
5 Yr 11.1%* 0.8% 12.3% 18.13%
10 Yr 9.3%* 0.0% 12.5% 10.66%

* Annualized

Total Return Ranking - Calendar

Period EAEAX Return Category Return Low Category Return High Rank in Category (%)
2023 20.7% 1.4% 34.9% 32.97%
2022 -18.2% -43.2% -3.8% 36.61%
2021 21.2% -24.1% 26.7% 5.78%
2020 15.5% -5.3% 62.8% 66.67%
2019 27.4% 12.4% 52.6% 26.75%

NAV & Total Return History


EAEAX - Holdings

Concentration Analysis

EAEAX Category Low Category High EAEAX % Rank
Net Assets 693 M 9.96 M 126 B 54.05%
Number of Holdings 61 5 8405 16.76%
Net Assets in Top 10 647 M 7.47 M 23.8 B 54.05%
Weighting of Top 10 97.18% 18.9% 100.1% 32.43%

Top 10 Holdings

  1. Tax-Managed Growth Portfolio 39.11%
  2. Tax-Managed Value Portfolio 26.48%
  3. Tax-Managed Multi-Cap Growth Portfolio 16.39%
  4. Tax-Managed Small-Cap Portfolio 9.70%
  5. Tax-Managed International Equity Portfolio 4.81%
  6. QBE Insurance Group Ltd 0.15%
  7. Citigroup Inc 0.15%
  8. Wells Fargo Co 0.14%
  9. KeyCorp 0.13%
  10. American AgCredit Corp 0.13%

Asset Allocation

Weighting Return Low Return High EAEAX % Rank
Stocks
96.49% 0.00% 100.25% 68.11%
Bonds
3.15% 0.00% 142.66% 12.97%
Convertible Bonds
2.45% 0.00% 3.88% 4.86%
Preferred Stocks
0.36% 0.00% 10.77% 6.49%
Other
0.00% -29.83% 9.38% 94.05%
Cash
0.00% 0.00% 31.61% 97.30%

Stock Sector Breakdown

Weighting Return Low Return High EAEAX % Rank
Technology
19.45% 1.75% 32.38% 51.09%
Healthcare
16.58% 2.06% 19.02% 10.33%
Financial Services
15.44% 9.56% 42.24% 40.22%
Consumer Cyclical
10.90% 1.15% 24.72% 54.35%
Industrials
10.32% 1.80% 14.87% 55.98%
Communication Services
8.45% 1.90% 13.69% 25.00%
Consumer Defense
7.09% 0.47% 14.80% 35.87%
Energy
4.05% 0.00% 31.98% 57.61%
Utilities
3.11% 0.00% 15.29% 32.07%
Real Estate
2.69% 0.00% 28.04% 65.22%
Basic Materials
1.92% 0.00% 8.62% 96.20%

Stock Geographic Breakdown

Weighting Return Low Return High EAEAX % Rank
US
96.49% 0.00% 100.25% 66.49%
Non US
0.00% 0.00% 32.10% 92.97%

Bond Sector Breakdown

Weighting Return Low Return High EAEAX % Rank
Corporate
94.65% 0.00% 94.65% 1.62%
Government
1.31% 0.00% 58.00% 60.54%
Derivative
0.00% -0.11% 5.77% 93.51%
Cash & Equivalents
0.00% 0.00% 29.91% 95.14%
Securitized
0.00% 0.00% 24.35% 98.38%
Municipal
0.00% 0.00% 11.59% 95.68%

Bond Geographic Breakdown

Weighting Return Low Return High EAEAX % Rank
US
3.15% 0.00% 139.97% 12.97%
Non US
0.00% 0.00% 2.70% 92.97%

EAEAX - Expenses

Operational Fees

EAEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.73% 0.23% 3.92% 15.68%
Management Fee 0.83% 0.00% 1.30% 91.35%
12b-1 Fee 0.25% 0.00% 1.00% 56.67%
Administrative Fee 0.15% 0.01% 0.28% 81.58%

Sales Fees

EAEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.25% 3.00% 5.75% 65.52%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

EAEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

EAEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 6.00% 0.18% 300.02% 18.60%

EAEAX - Distributions

Dividend Yield Analysis

EAEAX Category Low Category High EAEAX % Rank
Dividend Yield 0.48% 0.00% 8.81% 74.05%

Dividend Distribution Analysis

EAEAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual SemiAnnual Annual

Net Income Ratio Analysis

EAEAX Category Low Category High EAEAX % Rank
Net Income Ratio 0.35% -0.65% 5.31% 66.48%

Capital Gain Distribution Analysis

EAEAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

EAEAX - Fund Manager Analysis

Managers

Lewis Piantedosi


Start Date

Tenure

Tenure Rank

Oct 01, 2013

8.67

8.7%

Lewis R. Piantedosi, Vice President of BMR, has managed the Portfolio since May 2006.Lew is a Vice President of Eaton Vance Management, a member of the Equity Strategy Committee and lead portfolio manager of Eaton Vance’s Large-Cap Growth Equity and Focused Growth Equity strategies. Lew plays a central role in the research evaluation and decision-making process and represents the Large Cap Growth strategies to current and prospective clients. Lew also coordinates the day-to-day management of the Large Cap Growth portfolios. While the strategy is managed by the two-member Large Cap Growth Management Team, as the lead portfolio manager, Lew is ultimately responsible for all buy-and-sell decisions. Lew’s experience in the investment management industry dates back to 1993. He joined Eaton Vance in 1999 after serving as partner, portfolio manager and equity analyst with Freedom Capital Management. He had previously been associated with Eaton Vance Management as a research analyst from 1993 to 1996 and rejoined the company in his current position in 1999. Lew graduated from Framingham State College with a B.A. in Economics and received an M.B.A. with a concentration in Finance from Bentley College. His commentary has appeared in Barron’s, Bloomberg TV, The Boston Globe, Business Week, The New York Times, The Pittsburgh Post-Gazette, SmartMoney, Standard & Poor's, Toronto Globe & Mail, and The Wall Street Journal, among other publications.

John Croft


Start Date

Tenure

Tenure Rank

Jun 26, 2015

6.93

6.9%

John Croft is a vice president of Eaton Vance Management, director of credit research and portfolio manager on Eaton Vance’s investmentgrade fixed-income team. Prior to joining Eaton Vance in 2004, John was a credit analyst with Fidelity Management & Research Co., focusing on credit analysis of international and domestic financial institutions.

Douglas Rogers


Start Date

Tenure

Tenure Rank

Jul 01, 2021

0.92

0.9%

Doug is a Vice President of Eaton Vance Management and an Equity Analyst covering the computer software, investment banking/ investment management and money center bank industries. His experience in the investment management industry dates back to 1999. Prior to joining Eaton Vance in 2001, Doug was a research analyst covering the computer software and internet industries with Endeca. Doug graduated from the United States Naval Academy in Annapolis, Maryland with a B.S. in Systems Engineering. He received an M.B.A. from Harvard University Graduate School of Business Administration and is a holder of the Chartered Financial Analyst (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.19 26.6 6.51 2.41