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Trending ETFs

Eaton Vance Municipal Opportunities Fund

mutual fund
EMOCX
Payout Change
Pending
Price as of:
$11.32 +0.02 +0.18%
primary theme
High Yield Municipal Bond
EMOCX (Mutual Fund)

Eaton Vance Municipal Opportunities Fund

Payout Change
Pending
Price as of:
$11.32 +0.02 +0.18%
primary theme
High Yield Municipal Bond
EMOCX (Mutual Fund)

Eaton Vance Municipal Opportunities Fund

Payout Change
Pending
Price as of:
$11.32 +0.02 +0.18%
primary theme
High Yield 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

$11.32

$622 M

2.46%

$0.28

1.74%

Vitals

YTD Return

1.4%

1 yr return

4.4%

3 Yr Avg Return

-1.7%

5 Yr Avg Return

0.4%

Net Assets

$622 M

Holdings in Top 10

11.4%

52 WEEK LOW AND HIGH

$11.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.74%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 62.00%

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

$11.32

$622 M

2.46%

$0.28

1.74%

EMOCX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return -1.7%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.11%
DIVIDENDS
  • Dividend Yield 2.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Eaton Vance Municipal Opportunities Fund
  • Fund Family Name
    EATONVANCE
  • Inception Date
    Aug 18, 2014
  • Shares Outstanding
    2360472
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Trevor Smith

Fund Description

Under normal market circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations, the interest on which is exempt from regular federal income tax (the “80% Policy”). The Fund may invest without limit in obligations the income from which is subject to the federal alternative minimum tax. The Fund has a flexible investment strategy and may invest in obligations of any duration and credit quality. The Fund also may invest up to 50% of its net assets in obligations rated below investment grade and in unrated obligations considered to be of comparable quality by the investment adviser (“junk bonds”). Below investment grade obligations are those obligations rated below Baa by Moody’s Investors Service, Inc. (“Moody’s”), or below BBB by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”). For the purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may invest up to 20% of its net assets in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities (“Agency Securities”).

The Fund may purchase derivative instruments, which derive their value from another instrument, security or index. The Fund may purchase or sell various kinds of residual interest bonds, financial futures contracts and options thereon to hedge against changes in interest rates or as a substitute for the purchase of portfolio securities. The Fund also may enter into interest rate swaps, forward rate contracts and credit derivatives, which may include credit default swaps, total return swaps or credit options, as well as purchase an instrument that has greater or lesser credit risk than the municipal bonds underlying the instrument.  Except as required by applicable regulation, there is no stated limit on the Fund’s use of derivatives.

In pursuing its investment objective, the Fund may acquire municipal obligations with varying maturities.  Depending on the Fund’s average maturity, the interest rate risk described below may be more or less significant for the Fund. The longer the Fund’s average maturity, the more significant interest rate risk will be for the Fund.  The Fund may invest 25% or more of its total assets in certain types of municipal obligations (such as general obligations, municipal leases, principal only municipal investments, revenue bonds and industrial development bonds) and in one or more sectors (such as housing, hospitals, healthcare facilities or utilities).  The Fund may invest in pooled investment vehicles, including exchange-traded funds (“ETFs”), in order to seek exposure to the municipal markets or municipal market sectors. The Fund may invest in restricted securities.

The investment 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 adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.  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 portfolio managers generally will seek to enhance after-tax total return by balancing investment considerations and tax considerations.  The Fund expects to actively engage in relative value trading to take advantage of price appreciation opportunities or to realize capital losses.  A portion of the Fund’s distributions generally will be subject to the federal alternative minimum tax. The Fund may not be suitable for investors subject to the federal alternative minimum tax.

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EMOCX - Performance

Return Ranking - Trailing

Period EMOCX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -2.0% 8.0% 88.94%
1 Yr 4.4% -4.0% 11.6% 87.98%
3 Yr -1.7%* -9.4% 2.1% 59.61%
5 Yr 0.4%* -4.7% 526.3% 82.83%
10 Yr N/A* 0.0% 155.7% 98.75%

* Annualized

Return Ranking - Calendar

Period EMOCX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -6.2% 7.5% 57.69%
2022 -11.8% -26.9% -3.5% 11.22%
2021 -0.6% -1.9% 5.6% 93.07%
2020 1.8% -10.1% 4.2% 11.00%
2019 4.2% -0.7% 9.1% 75.26%

Total Return Ranking - Trailing

Period EMOCX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -2.0% 8.0% 88.94%
1 Yr 4.4% -4.0% 11.6% 87.98%
3 Yr -1.7%* -9.4% 2.1% 59.61%
5 Yr 0.4%* -4.7% 526.3% 82.83%
10 Yr N/A* 0.0% 155.7% 98.13%

* Annualized

Total Return Ranking - Calendar

Period EMOCX Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -4.1% 10.9% 72.12%
2022 -10.4% -26.9% 4.3% 15.12%
2021 1.9% -1.9% 10.0% 90.10%
2020 3.4% -4.1% 8.2% 56.00%
2019 5.7% -0.7% 1028633.9% 94.33%

NAV & Total Return History


EMOCX - Holdings

Concentration Analysis

EMOCX Category Low Category High EMOCX % Rank
Net Assets 622 M 9.79 K 16.1 B 55.34%
Number of Holdings 345 1 3076 58.54%
Net Assets in Top 10 70.8 M -102 M 3.63 B 69.76%
Weighting of Top 10 11.39% 4.7% 99.9% 76.47%

Top 10 Holdings

  1. MET WTR DIST OF STHRN CA WTRWKS REVENUE 1.87%
  2. DELAWARE VLY PA REGL FIN AUTH 1.29%
  3. CALIFORNIA ST 1.10%
  4. CALIFORNIA ST 1.07%
  5. BUCKEYE OH TOBACCO SETTLEMENT FING AUTH 1.06%
  6. COLORADO ST HLTH FACS AUTH REVENUE 1.04%
  7. UNIV OF CALIFORNIA CA REVENUES 1.04%
  8. PUBLIC FIN AUTH WI SOL WST DISP REVENUE 0.98%
  9. DENVER CITY CNTY CO ARPT REVENUE 0.97%
  10. LAMAR TX CONSOL INDEP SCH DIST 0.97%

Asset Allocation

Weighting Return Low Return High EMOCX % Rank
Bonds
101.36% 0.00% 146.69% 13.46%
Stocks
0.00% 0.00% 99.33% 92.79%
Preferred Stocks
0.00% -47.61% 1.64% 89.76%
Other
0.00% -8.76% 9.96% 78.05%
Convertible Bonds
0.00% 0.00% 0.00% 90.24%
Cash
0.00% -0.64% 100.00% 98.54%

Bond Sector Breakdown

Weighting Return Low Return High EMOCX % Rank
Municipal
97.75% 0.00% 100.00% 59.02%
Corporate
1.45% 0.00% 2.83% 10.24%
Derivative
0.00% -8.76% 1.55% 74.63%
Cash & Equivalents
0.00% 0.00% 100.00% 92.68%
Securitized
0.00% 0.00% 22.44% 90.24%
Government
0.00% 0.00% 0.09% 90.24%

Bond Geographic Breakdown

Weighting Return Low Return High EMOCX % Rank
US
101.36% 0.00% 139.84% 13.66%
Non US
0.00% 0.00% 13.35% 90.73%

EMOCX - Expenses

Operational Fees

EMOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.74% 0.21% 3.44% 13.53%
Management Fee 0.60% 0.00% 1.41% 88.46%
12b-1 Fee 1.00% 0.00% 1.00% 100.00%
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

EMOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load 1.00% 1.00% 5.00% 97.30%

Trading Fees

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

EMOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 62.00% 2.00% 121.00% 92.67%

EMOCX - Distributions

Dividend Yield Analysis

EMOCX Category Low Category High EMOCX % Rank
Dividend Yield 2.46% 0.00% 6.13% 88.94%

Dividend Distribution Analysis

EMOCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

EMOCX Category Low Category High EMOCX % Rank
Net Income Ratio 1.11% 1.11% 5.70% 100.00%

Capital Gain Distribution Analysis

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

Distributions History

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EMOCX - Fund Manager Analysis

Managers

Trevor Smith


Start Date

Tenure

Tenure Rank

Aug 17, 2021

0.79

0.8%

Craig Brandon


Start Date

Tenure

Tenure Rank

Aug 17, 2021

0.79

0.8%

Craig Brandon is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016. Craig began his career in the investment management industry in 1995. He has been affiliated with the Eaton Vance organization since 1998. He has experience with Eaton Vance across a variety of research roles. Before joining the Eaton Vance organization, he was a senior budget and capital finance analyst with the New York State Assembly Ways and Means Committee. Craig earned a B.S. from Canisius College and an MBA from the University of Pittsburgh. He is a member of the CFA Society of Boston, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts. He is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52