Dividend Investing Ideas Center
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 12/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
8.9%
1 yr return
10.3%
3 Yr Avg Return
4.6%
5 Yr Avg Return
4.2%
Net Assets
$525 M
Holdings in Top 10
6.2%
Expense Ratio 0.65%
Front Load N/A
Deferred Load N/A
Turnover 76.00%
Redemption Fee N/A
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in credit-related investments (the “80% Policy”). For purposes of this 80% Policy, “credit-related investments” are fixed income, variable rate, and floating-rate debt investments as well as derivatives that provide exposure to such investments. The Fund expects to invest at least 60% of its net assets in corporate credit instruments (high yield bonds and floating-rate loans) rated below investment grade (i.e., rated lower than BBB by S&P Global Ratings (“S&P”) or by Fitch Ratings (“Fitch”) or lower than Baa by Moody’s Investors Service, Inc. (“Moody’s”)) or unrated and of comparable quality as determined by the investment adviser as well as derivatives that provide exposure to such investments. Securities and other instruments rated below investment grade are also known as “junk”. The Fund may invest no more than 25% of its total assets in securities or instruments rated lower than B- by S&P or lower than B3 by Moody’s or by Fitch. For purposes of rating restrictions, the average of S&P, Moody’s and Fitch is used.
The Fund may invest in debt instruments of U.S. and non-U.S. issuers (including those located in emerging markets), including corporate bonds and other fixed or floating-rate securities, senior and junior loans, U.S. Government securities, commercial paper, money market instruments, mortgage-related securities (including commercial mortgage-backed securities, mortgage dollar rolls and collateralized mortgage obligations) and other asset-backed securities (including collateralized loan and debt obligations), zero-coupon securities, when-issued securities, forward commitments, repurchase agreements, reverse repurchase agreements, foreign debt securities, sovereign debt, obligations of supranational entities, structured notes, municipal obligations, private placements, inflation-indexed bonds and convertible securities and other hybrid securities. The Fund intends to seek to hedge the currency risk associated with its investments in foreign securities. The Fund may invest in debt instruments of any maturity. The Fund may invest in preferred stock and may own other equity securities that are part of a financial restructuring of a Fund investment.
The Fund may invest in exchange traded funds (“ETFs”), a type of pooled investment vehicle, in order to manage cash positions or seek exposure to certain markets or market sectors. The Fund may invest in certain ETFs beyond the limits under the Investment Company Act of 1940 (the “1940 Act”), subject to certain terms and conditions.
The Fund may use derivatives 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 or currencies. The Fund may engage in futures, options, forward foreign currency exchange contracts, interest rate swaps, credit default swaps and total return swaps. Except as required by applicable regulation, there is no stated limit on the Fund’s use of derivatives for such purposes. The Fund expects to invest in derivatives primarily to seek to hedge currency exposure through the use of forward foreign currency exchange contracts and futures contracts. The Fund may also use derivative instruments for cash management purposes or to gain long exposure to single issuers or the broader market.
In managing the Fund, the portfolio managers will employ top-down asset allocation based risk factor analysis, coupled with a bottom-up research driven approach. This top-down analysis includes macro-economic, fundamental and valuation analysis to determine the regional, asset, sector and duration positioning that the portfolio management team believes offers strong forward looking risk adjusted returns over a market cycle. This includes analyzing not just a base case but potential upside and downside skew in an investment. The bottom-up security selection emphasizes the financial strength of issuers, current interest rates, current valuations, the interest rate sensitivity of investments and the portfolio managers’ interest rate expectations, the stability and volatility of a country’s bond markets, and expectations regarding general trends in global economies and currencies. Investments are selected on the basis of the investment adviser's and/or sub-adviser’s internal research and ongoing credit analysis. The portfolio managers monitor the credit quality and price of the securities and other eligible investments for the Fund. Although the investment adviser and sub-adviser consider ratings when making investment decisions, they generally perform their own credit and investment analysis and do not rely primarily on the ratings assigned by the rating services. In evaluating the quality of particular securities, whether rated or unrated, the portfolio managers will normally take into consideration, among other things, the issuer’s financial resources and operating history, its sensitivity to economic conditions and trends, the ability of its management, its debt maturity schedules and borrowing requirements, and relative values based on anticipated cash flow, interest and asset coverage, and earnings prospects. The portfolio managers generally select individual securities with an investment horizon of two to ten years. The portfolio managers will also consider how purchasing or selling an investment would impact the overall portfolio’s risk profile (for example, its sensitivity to currency risk, interest rate risk and sector-specific risk) and potential return (income and capital gains). 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.
Period | ERAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.9% | -7.8% | 17.9% | 30.81% |
1 Yr | 10.3% | -4.4% | 18.8% | 64.09% |
3 Yr | 4.6%* | -14.1% | 21.5% | 12.96% |
5 Yr | 4.2%* | -11.3% | 37.2% | 35.36% |
10 Yr | N/A* | -5.0% | 20.1% | 89.42% |
* Annualized
Period | ERAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.0% | -4.7% | 14.3% | 78.36% |
2022 | -11.1% | -33.4% | 3.6% | 9.44% |
2021 | 0.3% | -8.4% | 8.2% | 41.07% |
2020 | -2.7% | -13.2% | 302.7% | 90.27% |
2019 | N/A | -4.4% | 13.3% | N/A |
Period | ERAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.9% | -7.8% | 17.9% | 30.81% |
1 Yr | 10.3% | -4.4% | 18.8% | 64.09% |
3 Yr | 4.6%* | -14.1% | 21.5% | 12.96% |
5 Yr | 4.2%* | -11.3% | 37.2% | 35.36% |
10 Yr | N/A* | -5.0% | 20.1% | 87.11% |
* Annualized
Period | ERAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.7% | -4.7% | 18.7% | 34.10% |
2022 | -5.8% | -33.4% | 47.8% | 9.77% |
2021 | 4.9% | -8.4% | 12.4% | 54.30% |
2020 | 2.3% | -9.6% | 325.6% | 89.56% |
2019 | N/A | -3.8% | 19.4% | N/A |
ERAMX | Category Low | Category High | ERAMX % Rank | |
---|---|---|---|---|
Net Assets | 525 M | 3.13 M | 25.3 B | 50.82% |
Number of Holdings | 739 | 2 | 4432 | 18.23% |
Net Assets in Top 10 | 32 M | -492 M | 6.67 B | 75.21% |
Weighting of Top 10 | 6.19% | 4.2% | 146.0% | 96.06% |
Weighting | Return Low | Return High | ERAMX % Rank | |
---|---|---|---|---|
Bonds | 96.39% | 0.00% | 145.36% | 38.24% |
Cash | 2.52% | -52.00% | 48.02% | 70.11% |
Other | 0.83% | -39.08% | 99.23% | 15.44% |
Convertible Bonds | 0.62% | 0.00% | 17.89% | 70.11% |
Preferred Stocks | 0.18% | 0.00% | 4.97% | 33.00% |
Stocks | 0.07% | 0.00% | 97.54% | 64.71% |
Weighting | Return Low | Return High | ERAMX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 29.53% |
Technology | 0.00% | 0.00% | 33.17% | 26.92% |
Real Estate | 0.00% | 0.00% | 86.71% | 17.76% |
Industrials | 0.00% | 0.00% | 93.12% | 40.56% |
Healthcare | 0.00% | 0.00% | 22.17% | 27.85% |
Financial Services | 0.00% | 0.00% | 100.00% | 37.20% |
Energy | 0.00% | 0.00% | 100.00% | 16.07% |
Communication Services | 0.00% | 0.00% | 99.99% | 42.99% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 19.44% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 36.64% |
Basic Materials | 0.00% | 0.00% | 100.00% | 39.81% |
Weighting | Return Low | Return High | ERAMX % Rank | |
---|---|---|---|---|
US | 0.07% | 0.00% | 97.54% | 62.56% |
Non US | 0.00% | -0.01% | 0.83% | 62.56% |
Weighting | Return Low | Return High | ERAMX % Rank | |
---|---|---|---|---|
Corporate | 86.41% | 0.00% | 100.00% | 86.68% |
Securitized | 8.01% | 0.00% | 97.24% | 4.93% |
Cash & Equivalents | 2.34% | 0.00% | 48.02% | 61.25% |
Municipal | 0.00% | 0.00% | 1.17% | 55.59% |
Government | 0.00% | 0.00% | 99.07% | 67.27% |
Derivative | 0.00% | -14.58% | 42.26% | 89.16% |
Weighting | Return Low | Return High | ERAMX % Rank | |
---|---|---|---|---|
US | 82.35% | 0.00% | 126.57% | 83.09% |
Non US | 14.04% | 0.00% | 96.91% | 10.02% |
ERAMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.65% | 0.02% | 38.33% | 81.15% |
Management Fee | 0.55% | 0.00% | 1.75% | 47.30% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
ERAMX 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 |
ERAMX 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.
ERAMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 76.00% | 1.00% | 255.00% | 73.25% |
ERAMX | Category Low | Category High | ERAMX % Rank | |
---|---|---|---|---|
Dividend Yield | 7.07% | 0.00% | 11.76% | 7.01% |
ERAMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
ERAMX | Category Low | Category High | ERAMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.90% | -2.39% | 9.30% | 74.08% |
ERAMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.059 | OrdinaryDividend |
Oct 31, 2024 | $0.058 | OrdinaryDividend |
Sep 30, 2024 | $0.061 | OrdinaryDividend |
Aug 30, 2024 | $0.061 | OrdinaryDividend |
Jul 31, 2024 | $0.062 | OrdinaryDividend |
Apr 30, 2024 | $0.060 | OrdinaryDividend |
Mar 28, 2024 | $0.063 | OrdinaryDividend |
Feb 29, 2024 | $0.060 | OrdinaryDividend |
Jan 31, 2024 | $0.062 | OrdinaryDividend |
Dec 29, 2023 | $0.090 | OrdinaryDividend |
Nov 30, 2023 | $0.061 | OrdinaryDividend |
Oct 31, 2023 | $0.061 | OrdinaryDividend |
Sep 29, 2023 | $0.059 | OrdinaryDividend |
Aug 31, 2023 | $0.062 | OrdinaryDividend |
Jul 31, 2023 | $0.059 | OrdinaryDividend |
Jun 30, 2023 | $0.057 | OrdinaryDividend |
May 31, 2023 | $0.057 | OrdinaryDividend |
Apr 28, 2023 | $0.055 | OrdinaryDividend |
Mar 31, 2023 | $0.056 | OrdinaryDividend |
Feb 28, 2023 | $0.053 | OrdinaryDividend |
Jan 31, 2023 | $0.055 | OrdinaryDividend |
Dec 30, 2022 | $0.054 | OrdinaryDividend |
Nov 30, 2022 | $0.052 | OrdinaryDividend |
Oct 31, 2022 | $0.048 | OrdinaryDividend |
Sep 30, 2022 | $0.050 | OrdinaryDividend |
Aug 31, 2022 | $0.046 | OrdinaryDividend |
Jul 29, 2022 | $0.042 | OrdinaryDividend |
Jun 30, 2022 | $0.042 | OrdinaryDividend |
May 31, 2022 | $0.040 | OrdinaryDividend |
Apr 29, 2022 | $0.038 | OrdinaryDividend |
Mar 31, 2022 | $0.036 | OrdinaryDividend |
Feb 28, 2022 | $0.037 | OrdinaryDividend |
Jan 31, 2022 | $0.038 | OrdinaryDividend |
Dec 31, 2021 | $0.040 | OrdinaryDividend |
Nov 30, 2021 | $0.035 | OrdinaryDividend |
Oct 29, 2021 | $0.036 | OrdinaryDividend |
Sep 30, 2021 | $0.038 | OrdinaryDividend |
Aug 31, 2021 | $0.037 | OrdinaryDividend |
Jul 30, 2021 | $0.037 | OrdinaryDividend |
Jun 30, 2021 | $0.037 | OrdinaryDividend |
May 28, 2021 | $0.037 | OrdinaryDividend |
Apr 30, 2021 | $0.036 | OrdinaryDividend |
Mar 31, 2021 | $0.033 | OrdinaryDividend |
Feb 26, 2021 | $0.037 | OrdinaryDividend |
Jan 29, 2021 | $0.039 | OrdinaryDividend |
Dec 31, 2020 | $0.042 | OrdinaryDividend |
Nov 30, 2020 | $0.037 | OrdinaryDividend |
Oct 30, 2020 | $0.036 | OrdinaryDividend |
Sep 30, 2020 | $0.038 | OrdinaryDividend |
Aug 31, 2020 | $0.039 | OrdinaryDividend |
Jul 31, 2020 | $0.038 | OrdinaryDividend |
Jun 30, 2020 | $0.040 | OrdinaryDividend |
May 29, 2020 | $0.038 | OrdinaryDividend |
Apr 30, 2020 | $0.037 | OrdinaryDividend |
Mar 31, 2020 | $0.042 | OrdinaryDividend |
Feb 28, 2020 | $0.044 | OrdinaryDividend |
Jan 31, 2020 | $0.048 | OrdinaryDividend |
Dec 31, 2019 | $0.041 | OrdinaryDividend |
Dec 10, 2019 | $0.019 | OrdinaryDividend |
Nov 29, 2019 | $0.042 | OrdinaryDividend |
Oct 31, 2019 | $0.045 | OrdinaryDividend |
Sep 27, 2019 | $0.033 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Oct 31, 2011
10.59
10.6%
Justin Bourgette is a vice president of Eaton Vance Management, director of global income investment strategy and portfolio manager on Eaton Vance's global income team. He is responsible for buy and sell decisions, portfolio construction and risk management. Justin joined Eaton Vance in 2006. Justin began his career in the investment management industry in 2006. Before joining Eaton Vance, he was affiliated with Investors Financial Services as an analyst in corporate finance and with National Grid, where he worked in business planning and engineering. Justin earned a B.S. from Worcester Polytechnic Institute and an M.S., with high honors, from Boston University. He is a CFA charterholder and a member of Eaton Vance's Asset Allocation Committee.
Start Date
Tenure
Tenure Rank
Sep 15, 2018
3.71
3.7%
John Redding is a vice president of Eaton Vance Management and portfolio manager Eaton Vance's floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. He joined Eaton Vance in 1998. John began his career in the investment management industry in 1987. Before joining Eaton Vance, he was affiliated with GiroCredit Bank and Creditanstalt-Bankverein. John earned a B.S. from the University at Albany, State University of New York. While in London, he served on the board of directors of the Loan Market Association (LMA) and chaired the LMA's Insolvency Priority Group. His commentary has appeared in the Financial Times and Bloomberg.
Start Date
Tenure
Tenure Rank
Dec 20, 2018
3.45
3.5%
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.
Start Date
Tenure
Tenure Rank
Mar 01, 2019
3.25
3.3%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.31 | 8.17 |
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