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Trending ETFs

Eaton Vance Floating-Rate & High Income Fund

mutual fund
ESFHX
Payout Change
Pending
Price as of:
$8.3 -0.01 -0.12%
primary theme
Bank Loan
ESFHX (Mutual Fund)

Eaton Vance Floating-Rate & High Income Fund

Payout Change
Pending
Price as of:
$8.3 -0.01 -0.12%
primary theme
Bank Loan
ESFHX (Mutual Fund)

Eaton Vance Floating-Rate & High Income Fund

Payout Change
Pending
Price as of:
$8.3 -0.01 -0.12%
primary theme
Bank Loan

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

$8.30

$915 M

8.38%

$0.70

0.77%

Vitals

YTD Return

4.0%

1 yr return

10.3%

3 Yr Avg Return

4.6%

5 Yr Avg Return

4.4%

Net Assets

$915 M

Holdings in Top 10

100.8%

52 WEEK LOW AND HIGH

$8.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 9.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

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

$8.30

$915 M

8.38%

$0.70

0.77%

ESFHX - Profile

Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.61%
DIVIDENDS
  • Dividend Yield 8.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Eaton Vance Floating-Rate & High Income Fund
  • Fund Family Name
    EatonVance
  • Inception Date
    Jun 27, 2016
  • Shares Outstanding
    5894643
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Craig Russ

Fund Description

Under normal circumstances, the Fund invests at least 80% of its total assets in a combination of income producing floating rate loans and other floating rate debt securities and high yield corporate bonds. The Fund may not invest more than 20% of its total assets in unsecured high yield corporate bonds. The Fund invests primarily in senior floating rate loans of domestic and foreign borrowers (“Senior Loans”). The Fund secondarily invests in high yield, high risk corporate bonds. Senior Loans typically are secured with specific collateral and have a claim on the assets and/or stock of the borrower that is senior to subordinated debtholders and stockholders of the borrower. High yield corporate bonds are, and loans usually are of below investment grade quality and have below investment grade credit ratings, such ratings are associated with securities having high risk, speculative characteristics (sometimes referred to as “junk”).

The Fund may also invest in: other floating rate debt securities; fixed-income debt securities; preferred securities and other hybrid securities (which generally possess characteristics common to both equity and debt securities, many of which have fixed maturities); convertible securities; secured and unsecured subordinated loans, second lien loans and subordinated bridge loans (collectively, “Junior Loans”); and money market instruments.  Other floating rate debt securities, fixed-income debt securities and money market instruments may include: bonds, notes and debentures issued by corporations; debt securities issued or guaranteed by the U.S. Government or one of its agencies or instrumentalities; and commercial paper.  Senior Loans and Junior Loans are referred to together herein as “loans.”

The Fund may invest up to 25% of its total assets in foreign Senior Loans, which must be denominated in U.S. dollars, euros, British pounds, Swiss francs, Canadian dollars, or Australian dollars, and foreign and emerging market securities, which are predominately U.S. dollar denominated.  The Fund may engage in derivative transactions (such as futures contracts and options thereon, interest rate and credit default swaps, credit linked notes, forward foreign currency exchange contracts and other currency hedging strategies) to seek return, to hedge against fluctuations in securities prices, interest rates or currency exchange rates and/or as a substitute for the purchase or sale of securities or currencies.  The Fund may enter into interest rate swaps for risk management purposes only.  Except as required by applicable regulation, there is no stated limit on the Fund’s use of derivatives for such purposes.

Preservation of capital is considered when consistent with the Fund’s investment objective.  The Fund currently seeks to achieve its investment objective and strategies primarily by investing at least 65% of total assets in Eaton Vance Floating Rate Portfolio and not more than 20% of total assets in High Income Opportunities Portfolio, separate registered investment companies managed by Eaton Vance Management or its affiliate, (the “Portfolios”).  References to the Fund’s investments include both investments held directly by the Fund and indirectly through the Portfolios in which the Fund invests.

To determine the allocation of the Fund’s assets between the two Portfolios, the portfolio managers meet periodically and agree upon an appropriate allocation that is consistent with the Fund’s investment objective and policies and takes into consideration market and other factors.  The portfolio managers may also consider financially material environmental, social and governance (“ESG”) factors in evaluating an issuer. These considerations may be taken into account alongside other fundamental research in the investment selection process.

The Fund is not appropriate for investors who cannot assume the greater risk of capital depreciation or loss inherent in seeking higher yields.

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ESFHX - Performance

Return Ranking - Trailing

Period ESFHX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -96.4% 6.5% 49.27%
1 Yr 10.3% -96.3% 15.4% 49.64%
3 Yr 4.6%* -67.0% 8.3% 49.43%
5 Yr 4.4%* -47.8% 37.6% 32.39%
10 Yr N/A* -2.1% 19.3% 44.71%

* Annualized

Return Ranking - Calendar

Period ESFHX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -12.0% 11.1% 34.18%
2022 -7.8% -22.9% 5.1% 56.34%
2021 1.2% -12.2% 11.1% 41.76%
2020 -1.4% -14.1% 289.8% 19.20%
2019 2.8% -8.1% 7.5% 48.35%

Total Return Ranking - Trailing

Period ESFHX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -96.4% 6.5% 49.27%
1 Yr 10.3% -96.3% 15.4% 49.64%
3 Yr 4.6%* -67.0% 8.3% 49.43%
5 Yr 4.4%* -47.8% 37.6% 32.39%
10 Yr N/A* -2.1% 19.3% 40.67%

* Annualized

Total Return Ranking - Calendar

Period ESFHX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -12.0% 22.1% 35.27%
2022 -2.8% -22.9% 5.1% 61.19%
2021 5.2% -10.2% 11.1% 36.40%
2020 3.1% -14.1% 306.9% 16.00%
2019 8.3% -3.6% 10.5% 34.30%

NAV & Total Return History


ESFHX - Holdings

Concentration Analysis

ESFHX Category Low Category High ESFHX % Rank
Net Assets 915 M 29.9 M 13.5 B 41.51%
Number of Holdings 2 2 1848 99.25%
Net Assets in Top 10 934 M -191 M 2.48 B 5.62%
Weighting of Top 10 100.78% 5.2% 100.8% 1.13%

Top 10 Holdings

  1. HIGH INCOME OPPORTUNITIES PORTFOLIO 84.34%
  2. Eaton Vance Floating Rate Portfolio 16.44%

Asset Allocation

Weighting Return Low Return High ESFHX % Rank
Stocks
100.78% 0.00% 100.78% 1.12%
Convertible Bonds
0.19% 0.00% 5.51% 20.00%
Preferred Stocks
0.00% -3.99% 6.22% 42.70%
Other
0.00% -52.39% 26.58% 61.05%
Cash
0.00% -61.90% 20.29% 84.27%
Bonds
0.00% 0.00% 161.82% 98.13%

Stock Sector Breakdown

Weighting Return Low Return High ESFHX % Rank
Energy
32.23% 0.00% 100.00% 34.78%
Communication Services
30.56% 0.00% 100.00% 40.87%
Consumer Cyclical
12.65% 0.00% 97.66% 13.91%
Industrials
10.49% 0.00% 100.00% 12.17%
Utilities
7.88% 0.00% 100.00% 13.04%
Consumer Defense
6.19% 0.00% 100.00% 20.00%
Technology
0.00% 0.00% 100.00% 33.91%
Real Estate
0.00% 0.00% 48.61% 20.00%
Healthcare
0.00% 0.00% 100.00% 20.00%
Financial Services
0.00% 0.00% 89.61% 20.00%
Basic Materials
0.00% 0.00% 1.36% 18.26%

Stock Geographic Breakdown

Weighting Return Low Return High ESFHX % Rank
US
100.78% -0.01% 100.78% 1.12%
Non US
0.00% 0.00% 0.68% 33.33%

ESFHX - Expenses

Operational Fees

ESFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.03% 12.26% 80.29%
Management Fee 0.15% 0.00% 1.89% 1.46%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.02% 0.27% 63.33%

Sales Fees

ESFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

ESFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

ESFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.00% 4.00% 180.00% 2.38%

ESFHX - Distributions

Dividend Yield Analysis

ESFHX Category Low Category High ESFHX % Rank
Dividend Yield 8.38% 0.00% 11.13% 58.18%

Dividend Distribution Analysis

ESFHX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

ESFHX Category Low Category High ESFHX % Rank
Net Income Ratio 3.61% 1.77% 9.82% 49.24%

Capital Gain Distribution Analysis

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

Distributions History

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ESFHX - Fund Manager Analysis

Managers

Craig Russ


Start Date

Tenure

Tenure Rank

Nov 07, 2007

14.57

14.6%

Craig Russ is vice president of CRM. Craig earned a B.A., cum laude, from Middlebury College in 1985 and studied at the London School of Economics and Political Science. He is a member of the board of directors of the Loan Syndications and Trading Association (LSTA).

Stephen Concannon


Start Date

Tenure

Tenure Rank

Nov 30, 2014

7.5

7.5%

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.

Kelley Baccei Gerrity


Start Date

Tenure

Tenure Rank

Nov 30, 2014

7.5

7.5%

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.

Andrew Sveen


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Andrew Sveen is a vice president of Eaton Vance Management, co-director of bank loans and portfolio manager on 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 1999. Andrew began his career in the investment management industry in 1995. Previously at Eaton Vance, he was director of loan trading and capital markets. Before joining Eaton Vance, he worked as a corporate lending officer at State Street Bank. Andrew earned a B.A. from Dartmouth College and an MBA from the William E. Simon School at the University of Rochester. He is a CFA charterholder. Andrew serves as a member of the board of directors of the Loan Syndications and Trading Association (LSTA). His commentary has appeared in Bloomberg, Financial Times and Reuters.

Jeffrey Mueller


Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

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.

Ralph Hinckley


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Ralph Hinckley is a vice president of Eaton Vance Management and senior analyst/portfolio manger. Ralph, a CFA charterholder, has been a member of the Eaton Vance Bank Loan team since joining Eaton Vance in August 2003. He focuses on credit analysis within the media/telecom and real estate industries. He previously held the position of vice president at Citizens Bank with prior positions and credit training at State Street Corporation. Ralph earned his M.B.A., with honors, from Boston University Graduate School of Management in 1997. He graduated from Bates College in 1993 with a B.A. in political science.

Jake Lemle


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.03 3.25