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Trending ETFs

Eaton Vance Global Macro Absolute Return Advantage Fund

mutual fund
EGRAX
Payout Change
Pending
Price as of:
$10.65 +0.01 +0.09%
primary theme
Bond Sector Diversified
EGRAX (Mutual Fund)

Eaton Vance Global Macro Absolute Return Advantage Fund

Payout Change
Pending
Price as of:
$10.65 +0.01 +0.09%
primary theme
Bond Sector Diversified
EGRAX (Mutual Fund)

Eaton Vance Global Macro Absolute Return Advantage Fund

Payout Change
Pending
Price as of:
$10.65 +0.01 +0.09%
primary theme
Bond Sector Diversified

Name

As of 11/27/2024

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

$10.65

$1.86 B

2.95%

$0.31

2.01%

Vitals

YTD Return

7.7%

1 yr return

9.7%

3 Yr Avg Return

4.9%

5 Yr Avg Return

4.7%

Net Assets

$1.86 B

Holdings in Top 10

99.8%

52 WEEK LOW AND HIGH

$10.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.01%

SALES FEES

Front Load 3.25%

Deferred Load N/A

TRADING FEES

Turnover 82.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/27/2024

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

$10.65

$1.86 B

2.95%

$0.31

2.01%

EGRAX - Profile

Distributions

  • YTD Total Return 7.7%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 4.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.03%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Eaton Vance Global Macro Absolute Return Advantage Fund
  • Fund Family Name
    EatonVance
  • Inception Date
    Sep 01, 2010
  • Shares Outstanding
    22622402
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Baur

Fund Description

The Fund seeks its investment objective by investing in securities, derivatives and other instruments to establish long and short investment exposures around the world. Total return is defined as income plus capital appreciation. The Fund normally invests in multiple countries and frequently has significant exposure to foreign currencies and investments. The Fund normally invests at least 40% of its net assets in foreign investments. The Fund’s long and short investments are primarily sovereign exposures, including currencies, interest rates and debt instruments issued or guaranteed by sovereign entities (including U.S. Treasuries). The Fund may invest in instruments of any credit rating, including those rated below investment grade (rated below BBB by either S&P Global Ratings or Fitch Ratings, or below Baa by Moody’s Investors Service, Inc.) or in unrated instruments considered to be of comparable quality by the investment adviser (often referred to as “junk” instruments). The Fund may have significant investment in a geographic region or country and typically a portion will be invested in emerging market countries. Emerging market countries include so-called frontier market countries, which generally are considered by the portfolio managers to be less developed countries that (i) are not included in the J.P. Morgan Government Bond Index: Emerging Markets (JPM GBI-EM) Global Diversified (Unhedged) (the “Index”); or (ii) represent 2% or less of the Index. The Fund is “non-diversified,” which means it may invest a greater percentage of its assets in the securities of a single issuer than a “diversified” fund.

The Fund may also invest in other foreign and domestic securities and other instruments, including mortgage-backed securities (“MBS”) and asset-backed securities, stripped securities, loans, bank instruments, municipal securities, corporate debt, other fixed-income securities, equity securities and commodities-related investments.  The Fund may invest in money markets instruments.

The Fund may invest in a wide variety of derivative instruments.  The Fund expects to achieve certain exposures through purchasing and selling derivative instruments, including (but not limited to) forward foreign currency exchange contracts; futures on securities, indices, currencies, commodities, swaps and other investments; options; and interest rate swaps, cross-currency swaps, total return swaps and credit default swaps, which may create economic leverage in the Fund.  The Fund may engage in derivative transactions to seek to enhance total return; to hedge against fluctuations in securities prices, interest rates or currency exchange rates; to change the effective duration of its portfolio; to manage certain investment risks; and/or as a substitute for the purchase or sale of securities, currencies or commodities.  The Fund’s use of derivatives is frequently extensive and, except as required by applicable regulation, there is no stated limit on their use.  

The Fund may engage in repurchase agreements, reverse repurchase agreements and short sales.  The Fund also may enter into forward commitments to purchase or sell instruments.

The Fund employs an “absolute return” investment approach.  This means that the Fund benchmarks itself to an index of cash instruments, rather than a stock or bond market index, and seeks to achieve returns that exceed its benchmark and are largely independent of broad movements in stocks and bonds.  The Fund’s benchmark is the ICE BofA 3-Month U.S. Treasury Bill Index.

In managing the Fund, the investment adviser utilizes macroeconomic and political analysis to identify investment opportunities throughout the world, including both developed and emerging markets.  The investment adviser seeks to identify countries and currencies it believes have potential to outperform investments in other countries and currencies, and to anticipate changes in global economies, markets, political conditions and other factors for this purpose.  When deemed by the investment adviser to be relevant to its evaluation of creditworthiness and when applicable information is available, the investment adviser considers environmental, social and/or governance issues (referred to as ESG) which may impact the prospects of an issuer (or obligor) or financial performance of an obligation.  When considered, one or more ESG issues are taken into account alongside other factors in the investment decision-making process and are not the sole determinant of whether an investment can be made or will remain in the Fund’s portfolio.  These considerations may be taken into account alongside other fundamental research in the investment selection process.

The Fund invests substantially all of its assets in the Portfolio, a separate registered investment company with the same investment objective and policies as the Fund.  The Portfolio may gain exposure to commodities by investing up to 25% of its total assets in Eaton Vance GMAP Commodity Subsidiary, Ltd. (the “Subsidiary”), a wholly-owned subsidiary of the Portfolio organized under the laws of the Cayman Islands, which invests primarily in commodities-related investments, as well as securities and other instruments in which the Portfolio is permitted to invest.  References to the Fund’s investments include investments held indirectly through the Portfolio in which the Fund invests.

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EGRAX - Performance

Return Ranking - Trailing

Period EGRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -11.6% 18.0% 20.59%
1 Yr 9.7% -9.3% 20.9% 38.70%
3 Yr 4.9%* -16.5% 16.8% 7.62%
5 Yr 4.7%* -14.6% 13.8% 8.48%
10 Yr 4.0%* -7.2% 6.9% 6.61%

* Annualized

Return Ranking - Calendar

Period EGRAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% -12.0% 8.9% 11.90%
2022 -6.5% -31.8% 18.4% 16.16%
2021 -1.2% -16.2% 25.7% 41.15%
2020 -1.1% -31.1% 18.7% 71.84%
2019 10.0% -6.1% 15.3% 2.50%

Total Return Ranking - Trailing

Period EGRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -11.6% 18.0% 20.59%
1 Yr 9.7% -9.3% 20.9% 38.70%
3 Yr 4.9%* -16.5% 16.8% 7.62%
5 Yr 4.7%* -14.6% 13.8% 8.48%
10 Yr 4.0%* -7.2% 6.9% 6.61%

* Annualized

Total Return Ranking - Calendar

Period EGRAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.1% -6.9% 22.2% 46.99%
2022 -2.3% -31.8% 21.1% 12.52%
2021 3.4% -13.5% 49.9% 25.74%
2020 4.5% -28.6% 24.1% 59.18%
2019 14.4% -4.8% 19.1% 3.08%

NAV & Total Return History


EGRAX - Holdings

Concentration Analysis

EGRAX Category Low Category High EGRAX % Rank
Net Assets 1.86 B 2.63 M 143 B 29.46%
Number of Holdings 4 4 9638 97.82%
Net Assets in Top 10 1.95 B -204 M 89.4 B 8.27%
Weighting of Top 10 99.79% 5.8% 265.8% 5.03%

Top 10 Holdings

  1. Global Macro Absolute Return Adv Port 100.07%
  2. Global Macro Absolute Return Adv Port 100.07%
  3. Global Macro Absolute Return Adv Port 100.07%
  4. Global Macro Absolute Return Adv Port 100.07%
  5. Global Macro Absolute Return Adv Port 100.07%
  6. Global Macro Absolute Return Adv Port 100.07%
  7. Global Macro Absolute Return Adv Port 100.07%
  8. Global Macro Absolute Return Adv Port 100.07%
  9. Global Macro Absolute Return Adv Port 100.07%
  10. Global Macro Absolute Return Adv Port 100.07%

Asset Allocation

Weighting Return Low Return High EGRAX % Rank
Bonds
70.68% 0.00% 199.60% 77.22%
Cash
24.50% -94.66% 99.97% 6.71%
Stocks
2.62% -6.18% 99.68% 30.42%
Other
2.05% -75.22% 147.15% 55.23%
Convertible Bonds
0.16% 0.00% 33.50% 76.60%
Preferred Stocks
0.00% 0.00% 26.42% 52.89%

Bond Sector Breakdown

Weighting Return Low Return High EGRAX % Rank
Government
57.21% 0.00% 99.43% 2.09%
Cash & Equivalents
24.22% 0.00% 94.89% 5.95%
Corporate
13.50% 0.00% 96.66% 76.01%
Derivative
4.38% -75.22% 147.15% 5.63%
Securitized
0.68% 0.00% 99.65% 88.89%
Municipal
0.00% 0.00% 54.26% 46.86%

Bond Geographic Breakdown

Weighting Return Low Return High EGRAX % Rank
Non US
67.15% 0.00% 74.14% 1.09%
US
3.53% 0.00% 199.60% 90.17%

EGRAX - Expenses

Operational Fees

EGRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.01% 0.03% 34.13% 17.88%
Management Fee 0.95% 0.00% 2.29% 80.96%
12b-1 Fee 0.30% 0.00% 1.00% 58.55%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

EGRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.25% 0.00% 5.75% 74.58%
Deferred Load N/A 1.00% 1.50% N/A

Trading Fees

EGRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

EGRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 82.00% 0.00% 632.00% 53.21%

EGRAX - Distributions

Dividend Yield Analysis

EGRAX Category Low Category High EGRAX % Rank
Dividend Yield 2.95% 0.00% 23.30% 88.25%

Dividend Distribution Analysis

EGRAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual SemiAnnual Monthly Monthly

Net Income Ratio Analysis

EGRAX Category Low Category High EGRAX % Rank
Net Income Ratio 5.03% -1.55% 11.51% 9.35%

Capital Gain Distribution Analysis

EGRAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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EGRAX - Fund Manager Analysis

Managers

John Baur


Start Date

Tenure

Tenure Rank

Aug 31, 2010

11.76

11.8%

John is a vice president since 2007 and a portfolio manager since 2008 at Eaton Vance. He covers Latin America and joined Eaton Vance in 2004. He has previously been employed at Applied Materials, Inc. in California, Taiwan and Singapore. John earned his M.B.A with honors from the Johnson Graduate School of Management at Cornell University, and his B.S. in Mechanical Engineering from MIT.

Federico Sequeda


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Kyle Lee


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Mr. Lee is a Vice President of Eaton Vance.

Patrick Campbell


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Hussein Khattab


Start Date

Tenure

Tenure Rank

Mar 16, 2022

0.21

0.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.71 3.19