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Trending ETFs

Parametric TABS 5-to-15 Year Laddered Municipal Bond Fund

mutual fund
ECLTX
Payout Change
Pending
Price as of:
$12.13 +0.02 +0.17%
primary theme
Municipal Bond
ECLTX (Mutual Fund)

Parametric TABS 5-to-15 Year Laddered Municipal Bond Fund

Payout Change
Pending
Price as of:
$12.13 +0.02 +0.17%
primary theme
Municipal Bond
ECLTX (Mutual Fund)

Parametric TABS 5-to-15 Year Laddered Municipal Bond Fund

Payout Change
Pending
Price as of:
$12.13 +0.02 +0.17%
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

$12.13

$719 M

2.14%

$0.26

1.43%

Vitals

YTD Return

-0.7%

1 yr return

3.1%

3 Yr Avg Return

-1.3%

5 Yr Avg Return

0.5%

Net Assets

$719 M

Holdings in Top 10

21.7%

52 WEEK LOW AND HIGH

$12.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.43%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 22.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250

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

$12.13

$719 M

2.14%

$0.26

1.43%

ECLTX - Profile

Distributions

  • YTD Total Return -0.7%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.64%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Parametric TABS 5-to-15 Year Laddered Municipal Bond Fund
  • Fund Family Name
    Eaton Vance
  • Inception Date
    Feb 01, 2010
  • Shares Outstanding
    2100198
  • 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 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 shareholders. These considerations may be taken into account alongside other factors in the investment selection process.

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ECLTX - Performance

Return Ranking - Trailing

Period ECLTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.7% -2.9% 17.0% 93.37%
1 Yr 3.1% -1.4% 29.0% 78.93%
3 Yr -1.3%* -11.1% 2.9% 65.74%
5 Yr 0.5%* -6.3% 1102.2% 70.75%
10 Yr 1.9%* -0.5% 248.4% 43.99%

* Annualized

Return Ranking - Calendar

Period ECLTX Return Category Return Low Category Return High Rank in Category (%)
2023 4.0% -1.4% 41.0% 10.75%
2022 -9.3% -39.7% 0.3% 29.85%
2021 -0.6% -5.6% 6.9% 53.59%
2020 3.7% -2.6% 310.0% 3.47%
2019 4.6% 0.0% 26.0% 22.21%

Total Return Ranking - Trailing

Period ECLTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.7% -2.9% 17.0% 93.37%
1 Yr 3.1% -1.4% 29.0% 78.93%
3 Yr -1.3%* -11.1% 2.9% 65.74%
5 Yr 0.5%* -6.3% 1102.2% 70.75%
10 Yr 1.9%* -0.5% 248.4% 43.99%

* Annualized

Total Return Ranking - Calendar

Period ECLTX Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% -1.3% 41.0% 32.70%
2022 -8.2% -39.7% 1.1% 38.24%
2021 0.1% -4.8% 23761504.0% 85.04%
2020 4.3% -1.5% 17057.9% 31.14%
2019 5.8% 0.2% 3514.6% 67.53%

NAV & Total Return History


ECLTX - Holdings

Concentration Analysis

ECLTX Category Low Category High ECLTX % Rank
Net Assets 719 M 3.22 M 71.9 B 36.35%
Number of Holdings 424 2 13067 28.78%
Net Assets in Top 10 153 M -317 M 3.56 B 30.02%
Weighting of Top 10 21.69% 2.0% 100.2% 34.01%

Top 10 Holdings

  1. Morgan Stanley Institutional Liquidity Funds - Government Portfolio 5.13%
  2. UNIV OF COLORADO CO HOSP AUTH REVENUE 3.94%
  3. MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE 3.27%
  4. PENNSYLVANIA ST 2.52%
  5. INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK 1.63%
  6. WEST SAINT PAUL MN INDEP SCH DIST #197 1.08%
  7. COLORADO ST HLTH FACS AUTH REVENUE 1.06%
  8. NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE 1.02%
  9. CALIFORNIA ST 1.02%
  10. SEATTLE WA HSG AUTH 1.01%

Asset Allocation

Weighting Return Low Return High ECLTX % Rank
Bonds
94.40% 0.00% 150.86% 90.13%
Cash
5.60% -50.86% 46.80% 7.80%
Stocks
0.00% 0.00% 99.81% 87.92%
Preferred Stocks
0.00% 0.00% 0.56% 83.95%
Other
0.00% -3.18% 33.35% 79.99%
Convertible Bonds
0.00% 0.00% 0.93% 83.56%

Bond Sector Breakdown

Weighting Return Low Return High ECLTX % Rank
Municipal
98.15% 44.39% 100.00% 53.10%
Cash & Equivalents
5.13% 0.00% 46.24% 6.82%
Derivative
0.00% -3.18% 19.67% 78.82%
Securitized
0.00% 0.00% 5.93% 83.95%
Corporate
0.00% 0.00% 9.41% 86.82%
Government
0.00% 0.00% 52.02% 84.41%

Bond Geographic Breakdown

Weighting Return Low Return High ECLTX % Rank
US
94.40% 0.00% 142.23% 88.56%
Non US
0.00% 0.00% 23.89% 84.08%

ECLTX - Expenses

Operational Fees

ECLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.43% 0.01% 20.65% 19.31%
Management Fee 0.32% 0.00% 1.20% 19.81%
12b-1 Fee 1.00% 0.00% 1.00% 95.95%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

ECLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load 1.00% 0.25% 5.00% 75.08%

Trading Fees

ECLTX 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.

ECLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 283.00% 65.30%

ECLTX - Distributions

Dividend Yield Analysis

ECLTX Category Low Category High ECLTX % Rank
Dividend Yield 2.14% 0.00% 14.51% 86.17%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ECLTX Category Low Category High ECLTX % Rank
Net Income Ratio 0.64% -0.53% 5.33% 94.28%

Capital Gain Distribution Analysis

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

Distributions History

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ECLTX - Fund Manager Analysis

Managers

Brian Barney


Start Date

Tenure

Tenure Rank

Jun 01, 2012

10.0

10.0%

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

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 7.36 1.58