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Trending ETFs

Parametric TABS Short-Term Municipal Bond Fund

mutual fund
ECBSX
Payout Change
Pending
Price as of:
$9.99 +0.01 +0.1%
primary theme
Municipal Bond
ECBSX (Mutual Fund)

Parametric TABS Short-Term Municipal Bond Fund

Payout Change
Pending
Price as of:
$9.99 +0.01 +0.1%
primary theme
Municipal Bond
ECBSX (Mutual Fund)

Parametric TABS Short-Term Municipal Bond Fund

Payout Change
Pending
Price as of:
$9.99 +0.01 +0.1%
primary theme
Municipal Bond

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

$9.99

$175 M

2.14%

$0.21

1.50%

Vitals

YTD Return

-0.4%

1 yr return

2.0%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

0.4%

Net Assets

$175 M

Holdings in Top 10

34.1%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.50%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 96.00%

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

$9.99

$175 M

2.14%

$0.21

1.50%

ECBSX - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -0.16%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Parametric TABS Short-Term Municipal Bond Fund
  • Fund Family Name
    Eaton Vance
  • Inception Date
    Apr 15, 2009
  • Shares Outstanding
    390346
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • 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 a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser or sub-adviser to be of comparable quality at the time of purchase. The Fund may invest up to 15% of its net assets in municipal obligations rated BBB by S&P, Fitch or Moody’s or, if unrated, determined by the investment adviser or sub-adviser to be of comparable quality. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated, determined by the investment adviser or sub-adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the sub-adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s sub-adviser believes is subject to the federal alternative minimum tax.

With respect to its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds.  The Fund currently targets an average portfolio duration of approximately 2 - 4.5 years and an average weighted portfolio maturity of approximately 3 - 6 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range.  The Fund may use various techniques to shorten or lengthen its dollar-weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount.  The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations and use relative value analysis to assist them in making decisions to purchase or sell investments.  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 may hold cash and may invest in cash equivalents and money market instruments.

The sub-adviser’s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation.  In evaluating creditworthiness, the sub-adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.  The portfolio managers may also trade securities to minimize taxable capital gains to shareholders.  The portfolio managers may sell a security when its credit quality declines, when the remaining maturity of a fixed-income security reaches a certain point or to pursue more attractive investment options.

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ECBSX - Performance

Return Ranking - Trailing

Period ECBSX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -2.9% 17.0% 91.42%
1 Yr 2.0% -1.4% 29.0% 93.89%
3 Yr -1.1%* -11.1% 2.9% 47.29%
5 Yr 0.4%* -6.3% 1102.2% 73.72%
10 Yr 0.5%* -0.5% 248.4% 97.65%

* Annualized

Return Ranking - Calendar

Period ECBSX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -1.4% 41.0% 73.36%
2022 -6.1% -39.7% 0.3% 12.68%
2021 -1.7% -5.6% 6.9% 94.88%
2020 2.6% -2.6% 310.0% 14.68%
2019 2.3% 0.0% 26.0% 86.24%

Total Return Ranking - Trailing

Period ECBSX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -2.9% 17.0% 91.42%
1 Yr 2.0% -1.4% 29.0% 93.89%
3 Yr -1.1%* -11.1% 2.9% 47.29%
5 Yr 0.4%* -6.3% 1102.2% 73.72%
10 Yr 0.5%* -0.5% 248.4% 97.65%

* Annualized

Total Return Ranking - Calendar

Period ECBSX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -1.3% 41.0% 81.63%
2022 -5.8% -39.7% 1.1% 17.17%
2021 -1.1% -4.8% 23761504.0% 98.14%
2020 5.0% -1.5% 17057.9% 15.70%
2019 3.1% 0.2% 3514.6% 92.95%

NAV & Total Return History


ECBSX - Holdings

Concentration Analysis

ECBSX Category Low Category High ECBSX % Rank
Net Assets 175 M 3.22 M 71.9 B 74.38%
Number of Holdings 91 2 13067 88.30%
Net Assets in Top 10 61 M -317 M 3.56 B 58.67%
Weighting of Top 10 34.07% 2.0% 100.2% 8.39%

Top 10 Holdings

  1. U.S. Treasury Notes 6.79%
  2. United States Treasury Note/Bond - When Issued 5.23%
  3. NEW YORK ST 3.45%
  4. WYLIE TX INDEP SCH DIST 3.11%
  5. ILLINOIS ST 2.98%
  6. MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE 2.79%
  7. CONNECTICUT ST HLTH EDUCTNL FACS AUTH REVENUE 2.78%
  8. ALLEGHENY CNTY PA HOSP DEV AUTH 2.48%
  9. LANCASTER OH PORT AUTH GAS REVENUE 2.36%
  10. MISSOURI ST HLTH EDUCTNL FACS AUTH HLTH FACS REVENUE 2.08%

Asset Allocation

Weighting Return Low Return High ECBSX % Rank
Bonds
94.45% 0.00% 150.86% 89.87%
Cash
5.55% -50.86% 46.80% 8.06%
Stocks
0.00% 0.00% 99.81% 98.64%
Preferred Stocks
0.00% 0.00% 0.56% 98.18%
Other
0.00% -3.18% 33.35% 92.33%
Convertible Bonds
0.00% 0.00% 0.93% 97.85%

Bond Sector Breakdown

Weighting Return Low Return High ECBSX % Rank
Municipal
77.19% 44.39% 100.00% 99.09%
Cash & Equivalents
1.41% 0.00% 46.24% 26.77%
Derivative
0.00% -3.18% 19.67% 91.03%
Securitized
0.00% 0.00% 5.93% 97.20%
Corporate
0.00% 0.00% 9.41% 97.98%
Government
0.00% 0.00% 52.02% 97.85%

Bond Geographic Breakdown

Weighting Return Low Return High ECBSX % Rank
US
94.45% 0.00% 142.23% 88.30%
Non US
0.00% 0.00% 23.89% 98.38%

ECBSX - Expenses

Operational Fees

ECBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.50% 0.01% 20.65% 15.80%
Management Fee 0.35% 0.00% 1.20% 29.42%
12b-1 Fee 1.00% 0.00% 1.00% 99.14%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

ECBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% 83.33%
Deferred Load 1.00% 0.25% 5.00% 94.02%

Trading Fees

ECBSX 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.

ECBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 96.00% 0.00% 283.00% 98.59%

ECBSX - Distributions

Dividend Yield Analysis

ECBSX Category Low Category High ECBSX % Rank
Dividend Yield 2.14% 0.00% 14.51% 86.49%

Dividend Distribution Analysis

ECBSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

ECBSX Category Low Category High ECBSX % Rank
Net Income Ratio -0.16% -0.53% 5.33% 99.74%

Capital Gain Distribution Analysis

ECBSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Semi-Annually Annually

Distributions History

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ECBSX - Fund Manager Analysis

Managers

Brian Barney


Start Date

Tenure

Tenure Rank

Jun 01, 2010

12.01

12.0%

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

Jul 03, 2013

8.92

8.9%

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 7.36 1.58