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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
8.7%
1 yr return
11.1%
3 Yr Avg Return
4.3%
5 Yr Avg Return
5.1%
Net Assets
$1.05 B
Holdings in Top 10
8.0%
Expense Ratio 0.70%
Front Load N/A
Deferred Load N/A
Turnover 64.00%
Redemption Fee N/A
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in fixed-income securities, including preferred securities and other hybrid securities (many of which have fixed maturities), senior floating rate loans and secured and unsecured subordinated (“junior”) floating rate loans (“loans”) and convertible securities. The Fund invests primarily in high yield, high risk corporate bonds (commonly referred to as “junk bonds”). The Fund invests a substantial portion of its assets in bonds issued in connection with mergers, acquisitions and other highly-leveraged transactions. The Fund normally invests primarily in bonds rated below investment grade (i.e., bonds rated lower than Baa by Moody’s Investors Service, Inc. (“Moody’s”) or lower than BBB by S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) and in comparable unrated bonds as determined by the investment adviser. Bonds rated BBB and Baa have speculative characteristics, while lower rated bonds are predominantly speculative. The Fund may invest up to 15% of its total assets in convertible securities. The Fund may also purchase securities that make “in-kind” interest payments (“PIK”), bonds not paying current income and bonds that do not make regular interest payments. The Fund may invest up to 25% of its total assets in foreign securities, some of which may be issued by companies domiciled in emerging market countries, which are predominantly U.S. dollar denominated and up to 5% of its total assets in non-U.S. dollar denominated investments. With respect to non-U.S. dollar denominated securities, the Fund may hedge currency fluctuations by entering into forward foreign currency exchange contracts. Under normal circumstances, the Fund will generally hold well in excess of 100 securities, which may help reduce investment risk. The Fund may invest up to 15% of its total assets in equity securities and up to 10% of its net assets in municipal obligations, including shares of affiliated investment companies which invest in municipal obligations. The Fund may also invest in money market instruments. The Fund will utilize short sales and repurchase agreements.
The Fund may purchase or sell derivative instruments for hedging purposes, to seek return, to manage certain investment risks and/or as a substitute for the purchase or sale of securities. Derivative instruments may include: the purchase or sale of futures contracts on securities, indices or other financial instruments or currencies; options on futures contracts; exchange-traded and over-the-counter options on securities, indices, currencies and other instruments; interest rate, credit default, inflation and total return swaps; forward rate contracts; and credit linked notes as well as instruments that have a greater or lesser credit risk than the security underlying that instrument. The Fund may use interest rate swaps for risk management purposes and not as a speculative investment and would typically use interest rate swaps to seek to shorten the average interest rate re-set time of its holdings. It is anticipated that the Fund may have net economic leverage of up to 20% through the use of credit default swaps. Except as required by applicable regulation, there is no other stated limit on the Fund’s use of derivatives for such purposes. The Fund is not appropriate for investors who cannot assume the greater risk of capital depreciation or loss inherent in seeking higher yields.
The Fund’s investments are actively managed and securities may be bought and sold on a daily basis. Preservation of capital is considered when consistent with the Fund’s objective. The investment adviser’s and sub-adviser’s staff monitors the credit quality of securities held by the Fund and other securities available to the Fund. Although the investment adviser and sub-adviser consider security ratings when making investment decisions, they perform their own credit and investment analysis utilizing various methodologies including “bottom up/top down” analysis and consideration of macroeconomic and technical factors, and do not rely primarily on the ratings assigned by the rating services. The portfolio managers attempt to improve yield and preserve and enhance principal value through timely trading. The portfolio managers also consider the relative value of securities in the marketplace in making investment decisions. 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.
The Fund currently invests substantially all of its assets in the Portfolio, a separate registered investment company with the same investment objectives and policies as the Fund. References to the Fund’s investments include investments held indirectly through the Portfolio in which the Fund invests.
Period | EIHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | -7.5% | 17.7% | 43.35% |
1 Yr | 11.1% | -4.7% | 18.4% | 48.11% |
3 Yr | 4.3%* | -14.4% | 21.6% | 15.17% |
5 Yr | 5.1%* | -11.4% | 37.2% | 12.99% |
10 Yr | 5.2%* | -4.7% | 20.4% | 13.27% |
* Annualized
Period | EIHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.3% | -4.7% | 14.3% | 47.87% |
2022 | -12.2% | -33.4% | 3.6% | 14.40% |
2021 | 2.0% | -8.4% | 8.2% | 10.82% |
2020 | -1.3% | -13.2% | 302.7% | 74.51% |
2019 | 8.2% | -4.4% | 13.3% | 47.91% |
Period | EIHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | -7.5% | 17.7% | 43.35% |
1 Yr | 11.1% | -4.7% | 18.4% | 48.11% |
3 Yr | 4.3%* | -14.4% | 21.6% | 15.17% |
5 Yr | 5.1%* | -11.4% | 37.2% | 12.99% |
10 Yr | 5.2%* | -4.7% | 20.4% | 13.27% |
* Annualized
Period | EIHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.5% | -4.7% | 18.7% | 40.66% |
2022 | -6.7% | -33.4% | 47.8% | 13.25% |
2021 | 8.0% | -8.4% | 12.4% | 9.11% |
2020 | 5.2% | -9.6% | 325.6% | 56.81% |
2019 | 14.5% | -3.8% | 19.4% | 35.52% |
EIHIX | Category Low | Category High | EIHIX % Rank | |
---|---|---|---|---|
Net Assets | 1.05 B | 3.13 M | 25.3 B | 38.24% |
Number of Holdings | 530 | 2 | 4432 | 30.38% |
Net Assets in Top 10 | 87.1 M | -492 M | 6.67 B | 53.37% |
Weighting of Top 10 | 8.03% | 4.2% | 146.0% | 92.45% |
Weighting | Return Low | Return High | EIHIX % Rank | |
---|---|---|---|---|
Bonds | 88.86% | 0.00% | 145.36% | 86.27% |
Stocks | 5.08% | 0.00% | 97.54% | 9.31% |
Cash | 4.54% | -52.00% | 48.02% | 39.90% |
Preferred Stocks | 0.74% | 0.00% | 4.97% | 11.82% |
Convertible Bonds | 0.59% | 0.00% | 17.89% | 71.43% |
Other | 0.21% | -39.08% | 99.23% | 31.03% |
Weighting | Return Low | Return High | EIHIX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 7.06% |
Technology | 0.00% | 0.00% | 33.17% | 92.27% |
Real Estate | 0.00% | 0.00% | 86.71% | 14.35% |
Industrials | 0.00% | 0.00% | 93.12% | 4.19% |
Healthcare | 0.00% | 0.00% | 22.17% | 90.73% |
Financial Services | 0.00% | 0.00% | 100.00% | 91.17% |
Energy | 0.00% | 0.00% | 100.00% | 61.15% |
Communication Services | 0.00% | 0.00% | 99.99% | 37.75% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 89.62% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 11.92% |
Basic Materials | 0.00% | 0.00% | 100.00% | 19.65% |
Weighting | Return Low | Return High | EIHIX % Rank | |
---|---|---|---|---|
US | 4.73% | 0.00% | 97.54% | 9.36% |
Non US | 0.35% | -0.01% | 0.83% | 2.13% |
Weighting | Return Low | Return High | EIHIX % Rank | |
---|---|---|---|---|
Corporate | 92.82% | 0.00% | 100.00% | 70.72% |
Cash & Equivalents | 4.81% | 0.00% | 48.02% | 28.74% |
Securitized | 2.37% | 0.00% | 97.24% | 15.95% |
Derivative | 0.00% | -14.58% | 42.26% | 65.85% |
Municipal | 0.00% | 0.00% | 1.17% | 61.51% |
Government | 0.00% | 0.00% | 99.07% | 72.86% |
Weighting | Return Low | Return High | EIHIX % Rank | |
---|---|---|---|---|
US | 74.94% | 0.00% | 126.57% | 88.67% |
Non US | 13.92% | 0.00% | 96.91% | 10.84% |
EIHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.70% | 0.02% | 38.33% | 75.57% |
Management Fee | 0.48% | 0.00% | 1.75% | 26.02% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
EIHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
EIHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
EIHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 64.00% | 1.00% | 255.00% | 50.45% |
EIHIX | Category Low | Category High | EIHIX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.16% | 0.00% | 11.76% | 42.58% |
EIHIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
EIHIX | Category Low | Category High | EIHIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.65% | -2.39% | 9.30% | 36.29% |
EIHIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.022 | OrdinaryDividend |
Oct 31, 2024 | $0.023 | OrdinaryDividend |
Sep 30, 2024 | $0.023 | OrdinaryDividend |
Aug 30, 2024 | $0.023 | OrdinaryDividend |
Jul 31, 2024 | $0.023 | OrdinaryDividend |
Apr 30, 2024 | $0.022 | OrdinaryDividend |
Mar 28, 2024 | $0.023 | OrdinaryDividend |
Feb 29, 2024 | $0.022 | OrdinaryDividend |
Jan 31, 2024 | $0.022 | OrdinaryDividend |
Dec 29, 2023 | $0.023 | OrdinaryDividend |
Nov 30, 2023 | $0.022 | OrdinaryDividend |
Oct 31, 2023 | $0.022 | OrdinaryDividend |
Sep 29, 2023 | $0.022 | OrdinaryDividend |
Aug 31, 2023 | $0.022 | OrdinaryDividend |
Jul 31, 2023 | $0.021 | OrdinaryDividend |
Jun 30, 2023 | $0.021 | OrdinaryDividend |
May 31, 2023 | $0.021 | OrdinaryDividend |
Apr 28, 2023 | $0.019 | OrdinaryDividend |
Mar 31, 2023 | $0.020 | OrdinaryDividend |
Feb 28, 2023 | $0.018 | OrdinaryDividend |
Jan 31, 2023 | $0.020 | OrdinaryDividend |
Dec 30, 2022 | $0.020 | OrdinaryDividend |
Nov 30, 2022 | $0.019 | OrdinaryDividend |
Oct 31, 2022 | $0.020 | OrdinaryDividend |
Sep 30, 2022 | $0.019 | OrdinaryDividend |
Aug 31, 2022 | $0.020 | OrdinaryDividend |
Jul 29, 2022 | $0.020 | OrdinaryDividend |
Jun 30, 2022 | $0.019 | OrdinaryDividend |
May 31, 2022 | $0.020 | OrdinaryDividend |
Apr 29, 2022 | $0.019 | OrdinaryDividend |
Mar 31, 2022 | $0.020 | OrdinaryDividend |
Feb 28, 2022 | $0.018 | OrdinaryDividend |
Jan 31, 2022 | $0.020 | OrdinaryDividend |
Dec 31, 2021 | $0.020 | OrdinaryDividend |
Nov 30, 2021 | $0.019 | OrdinaryDividend |
Oct 29, 2021 | $0.005 | ReturnOfCapital |
Oct 29, 2021 | $0.015 | OrdinaryDividend |
Sep 30, 2021 | $0.005 | ReturnOfCapital |
Sep 30, 2021 | $0.014 | OrdinaryDividend |
Aug 31, 2021 | $0.005 | ReturnOfCapital |
Aug 31, 2021 | $0.015 | OrdinaryDividend |
Jul 30, 2021 | $0.005 | ReturnOfCapital |
Jul 30, 2021 | $0.015 | OrdinaryDividend |
Jun 30, 2021 | $0.005 | ReturnOfCapital |
Jun 30, 2021 | $0.014 | OrdinaryDividend |
May 28, 2021 | $0.005 | ReturnOfCapital |
May 28, 2021 | $0.015 | OrdinaryDividend |
Apr 30, 2021 | $0.005 | ReturnOfCapital |
Apr 30, 2021 | $0.014 | OrdinaryDividend |
Mar 31, 2021 | $0.005 | ReturnOfCapital |
Mar 31, 2021 | $0.015 | OrdinaryDividend |
Feb 26, 2021 | $0.005 | ReturnOfCapital |
Feb 26, 2021 | $0.014 | OrdinaryDividend |
Jan 29, 2021 | $0.005 | ReturnOfCapital |
Jan 29, 2021 | $0.016 | OrdinaryDividend |
Dec 31, 2020 | $0.021 | OrdinaryDividend |
Nov 30, 2020 | $0.020 | OrdinaryDividend |
Oct 30, 2020 | $0.003 | ReturnOfCapital |
Oct 30, 2020 | $0.018 | OrdinaryDividend |
Sep 30, 2020 | $0.003 | ReturnOfCapital |
Sep 30, 2020 | $0.017 | OrdinaryDividend |
Aug 31, 2020 | $0.003 | ReturnOfCapital |
Aug 31, 2020 | $0.018 | OrdinaryDividend |
Jul 31, 2020 | $0.003 | ReturnOfCapital |
Jul 31, 2020 | $0.018 | OrdinaryDividend |
Jun 30, 2020 | $0.003 | ReturnOfCapital |
Jun 30, 2020 | $0.017 | OrdinaryDividend |
May 29, 2020 | $0.003 | ReturnOfCapital |
May 29, 2020 | $0.018 | OrdinaryDividend |
Apr 30, 2020 | $0.003 | ReturnOfCapital |
Apr 30, 2020 | $0.017 | OrdinaryDividend |
Mar 31, 2020 | $0.003 | ReturnOfCapital |
Mar 31, 2020 | $0.018 | OrdinaryDividend |
Feb 28, 2020 | $0.003 | ReturnOfCapital |
Feb 28, 2020 | $0.017 | OrdinaryDividend |
Jan 31, 2020 | $0.003 | ReturnOfCapital |
Jan 31, 2020 | $0.018 | OrdinaryDividend |
Dec 31, 2019 | $0.021 | OrdinaryDividend |
Nov 29, 2019 | $0.020 | OrdinaryDividend |
Oct 31, 2019 | $0.021 | OrdinaryDividend |
Sep 30, 2019 | $0.020 | OrdinaryDividend |
Aug 30, 2019 | $0.021 | OrdinaryDividend |
Jul 31, 2019 | $0.021 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Nov 03, 2014
7.58
7.6%
Stephen Concannon is a vice president of Eaton Vance Management, co-director of high yield and portfolio manager on Eaton Vance’s high-yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield strategies. He joined Eaton Vance in 2000. Steve began his career in the investment management industry in 1993. Before joining Eaton Vance, he was a research analyst for Wellington Management. Steve earned a B.A. from Bates College. He is a member of the CFA Society Boston and is a CFA charterholder.
Start Date
Tenure
Tenure Rank
Nov 03, 2014
7.58
7.6%
Kelley Baccei is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance’s high-yield team. She is responsible for buy and sell decisions and portfolio construction. She joined Eaton Vance in 2005. Kelley began her career in the investment management industry in 2000. Before joining Eaton Vance, she was the director of high-yield distressed research at Fieldstone Capital Group. Previously, she was associate director of fixed-income research at Scotia Capital Markets, Inc. Kelley earned a B.A. from Boston College and a certificate in credit analysis from New York University.
Start Date
Tenure
Tenure Rank
Jun 18, 2019
2.95
3.0%
Jeff is a vice president of Eaton Vance Management International and portfolio manager on Eaton Vance’s high yield team. Jeff also provides research coverage on European and other non-US high yield opportunities. Jeff’s experience in the investment management industry dates to 2004. Prior to joining Eaton Vance in 2015, Jeff was a fund manager and research analyst with Threadneedle Investments in London. He earned a B.A. from the University of Wisconsin, and holds the IMC certification. Jeff is based in Eaton Vance’s London office.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.31 | 8.17 |
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