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 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
4.7%
1 yr return
5.4%
3 Yr Avg Return
1.1%
5 Yr Avg Return
1.5%
Net Assets
$729 M
Holdings in Top 10
12.9%
Expense Ratio 0.66%
Front Load 3.25%
Deferred Load N/A
Turnover 57.00%
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal market circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations that are 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 or credit quality. The Fund may invest up to 50% of its net assets in obligations rated below investment grade (“junk bonds”). Below investment grade obligations are those 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”) or, if unrated, determined by the investment adviser to be of comparable quality. 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 or instrumentalities.
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, 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 for such purposes.
Although the Fund invests in obligations to seek to maintain a dollar-weighted average portfolio duration of less than four and a half years, the Fund may invest in individual municipal obligations of any maturity. Duration represents the dollar-weighted average maturity of expected cash flows (i.e., interest and principal payments) on one or more municipal obligations, discounted to their present values. The Fund may use various techniques to shorten or lengthen its dollar-weighted average duration, including the acquisition of municipal obligations at a premium or discount, and transactions in futures contracts and options on futures. 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 economic sectors (such as housing, hospitals, healthcare facilities or utilities). The Fund may invest in pooled investment vehicles, including exchange-traded funds (“ETFs”), 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 maximize after-tax total return by balancing investment considerations and tax considerations. The Fund may 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.
Period | EXMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.7% | -4.3% | 40.7% | 13.43% |
1 Yr | 5.4% | -2.6% | 46.0% | 42.38% |
3 Yr | 1.1%* | -10.3% | 6.3% | 8.20% |
5 Yr | 1.5%* | -6.5% | 1105.2% | 18.72% |
10 Yr | 2.1%* | -0.9% | 249.0% | 33.64% |
* Annualized
Period | EXMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.5% | -1.4% | 41.0% | 88.82% |
2022 | -6.7% | -39.7% | 0.3% | 14.88% |
2021 | 0.6% | -5.6% | 6.9% | 14.02% |
2020 | 0.5% | -2.6% | 310.0% | 92.09% |
2019 | 2.4% | 0.0% | 26.0% | 85.39% |
Period | EXMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.7% | -4.3% | 40.7% | 13.43% |
1 Yr | 5.4% | -2.6% | 46.0% | 42.38% |
3 Yr | 1.1%* | -10.3% | 6.3% | 8.20% |
5 Yr | 1.5%* | -6.5% | 1105.2% | 18.72% |
10 Yr | 2.1%* | -0.9% | 249.0% | 33.64% |
* Annualized
Period | EXMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.5% | -1.3% | 41.0% | 75.35% |
2022 | -5.0% | -39.7% | 1.1% | 14.27% |
2021 | 1.9% | -4.8% | 23761504.0% | 42.96% |
2020 | 2.3% | -1.5% | 17057.9% | 86.55% |
2019 | 4.6% | 0.2% | 3514.6% | 83.66% |
EXMAX | Category Low | Category High | EXMAX % Rank | |
---|---|---|---|---|
Net Assets | 729 M | 3.22 M | 71.9 B | 37.30% |
Number of Holdings | 415 | 4 | 13418 | 29.68% |
Net Assets in Top 10 | 94.3 M | -317 M | 3.09 B | 46.07% |
Weighting of Top 10 | 12.94% | 1.8% | 100.3% | 71.51% |
Weighting | Return Low | Return High | EXMAX % Rank | |
---|---|---|---|---|
Bonds | 102.75% | 0.00% | 150.86% | 5.91% |
Stocks | 0.00% | 0.00% | 99.78% | 18.79% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 5.91% |
Other | 0.00% | -3.69% | 53.54% | 19.14% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 5.19% |
Cash | 0.00% | -50.86% | 44.62% | 83.88% |
Weighting | Return Low | Return High | EXMAX % Rank | |
---|---|---|---|---|
Municipal | 95.95% | 44.39% | 100.00% | 74.04% |
Corporate | 0.69% | 0.00% | 9.41% | 3.91% |
Derivative | 0.00% | -3.69% | 53.54% | 16.19% |
Cash & Equivalents | 0.00% | 0.00% | 44.41% | 59.44% |
Securitized | 0.00% | 0.00% | 5.93% | 6.68% |
Government | 0.00% | 0.00% | 52.02% | 12.34% |
Weighting | Return Low | Return High | EXMAX % Rank | |
---|---|---|---|---|
US | 102.75% | 0.00% | 142.23% | 5.91% |
Non US | 0.00% | 0.00% | 23.89% | 9.74% |
EXMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.66% | 0.01% | 8.02% | 58.33% |
Management Fee | 0.40% | 0.00% | 1.20% | 38.39% |
12b-1 Fee | 0.15% | 0.00% | 1.00% | 22.27% |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
EXMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 3.25% | 0.50% | 4.75% | 56.61% |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
EXMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
EXMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 57.00% | 0.00% | 283.00% | 95.24% |
EXMAX | Category Low | Category High | EXMAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.02% | 0.00% | 14.51% | 47.11% |
EXMAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
EXMAX | Category Low | Category High | EXMAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.08% | -0.53% | 5.33% | 84.36% |
EXMAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.025 | OrdinaryDividend |
Oct 31, 2024 | $0.025 | OrdinaryDividend |
Sep 30, 2024 | $0.025 | OrdinaryDividend |
Aug 30, 2024 | $0.025 | OrdinaryDividend |
Jul 31, 2024 | $0.024 | OrdinaryDividend |
Apr 30, 2024 | $0.024 | OrdinaryDividend |
Mar 28, 2024 | $0.024 | OrdinaryDividend |
Feb 29, 2024 | $0.025 | OrdinaryDividend |
Jan 31, 2024 | $0.024 | OrdinaryDividend |
Dec 29, 2023 | $0.024 | OrdinaryDividend |
Nov 30, 2023 | $0.024 | OrdinaryDividend |
Oct 31, 2023 | $0.024 | OrdinaryDividend |
Sep 29, 2023 | $0.023 | OrdinaryDividend |
Aug 31, 2023 | $0.023 | OrdinaryDividend |
Jul 31, 2023 | $0.023 | OrdinaryDividend |
Jun 30, 2023 | $0.022 | OrdinaryDividend |
May 31, 2023 | $0.021 | OrdinaryDividend |
Apr 28, 2023 | $0.021 | OrdinaryDividend |
Mar 31, 2023 | $0.020 | OrdinaryDividend |
Feb 28, 2023 | $0.021 | OrdinaryDividend |
Jan 31, 2023 | $0.019 | OrdinaryDividend |
Dec 30, 2022 | $0.019 | OrdinaryDividend |
Nov 30, 2022 | $0.018 | OrdinaryDividend |
Oct 31, 2022 | $0.017 | OrdinaryDividend |
Sep 30, 2022 | $0.016 | OrdinaryDividend |
Aug 31, 2022 | $0.015 | OrdinaryDividend |
Jul 29, 2022 | $0.013 | OrdinaryDividend |
Jun 30, 2022 | $0.014 | OrdinaryDividend |
May 31, 2022 | $0.012 | OrdinaryDividend |
Apr 29, 2022 | $0.011 | OrdinaryDividend |
Mar 31, 2022 | $0.009 | OrdinaryDividend |
Feb 28, 2022 | $0.010 | OrdinaryDividend |
Jan 31, 2022 | $0.008 | OrdinaryDividend |
Dec 31, 2021 | $0.009 | OrdinaryDividend |
Nov 30, 2021 | $0.009 | OrdinaryDividend |
Oct 29, 2021 | $0.009 | OrdinaryDividend |
Sep 30, 2021 | $0.009 | OrdinaryDividend |
Aug 31, 2021 | $0.009 | OrdinaryDividend |
Jul 30, 2021 | $0.009 | OrdinaryDividend |
Jun 30, 2021 | $0.010 | OrdinaryDividend |
May 28, 2021 | $0.010 | OrdinaryDividend |
Apr 30, 2021 | $0.011 | OrdinaryDividend |
Mar 31, 2021 | $0.011 | OrdinaryDividend |
Feb 26, 2021 | $0.012 | OrdinaryDividend |
Jan 29, 2021 | $0.012 | OrdinaryDividend |
Dec 31, 2020 | $0.015 | OrdinaryDividend |
Nov 30, 2020 | $0.014 | OrdinaryDividend |
Oct 30, 2020 | $0.013 | OrdinaryDividend |
Sep 30, 2020 | $0.013 | OrdinaryDividend |
Aug 31, 2020 | $0.013 | OrdinaryDividend |
Jul 31, 2020 | $0.013 | OrdinaryDividend |
Jun 30, 2020 | $0.014 | OrdinaryDividend |
May 29, 2020 | $0.014 | OrdinaryDividend |
Apr 30, 2020 | $0.015 | OrdinaryDividend |
Mar 31, 2020 | $0.017 | OrdinaryDividend |
Feb 28, 2020 | $0.015 | OrdinaryDividend |
Jan 31, 2020 | $0.014 | OrdinaryDividend |
Dec 31, 2019 | $0.015 | OrdinaryDividend |
Dec 03, 2019 | $0.005 | CapitalGainShortTerm |
Dec 03, 2019 | $0.000 | CapitalGainLongTerm |
Nov 29, 2019 | $0.016 | OrdinaryDividend |
Oct 31, 2019 | $0.016 | OrdinaryDividend |
Sep 30, 2019 | $0.017 | OrdinaryDividend |
Aug 30, 2019 | $0.017 | OrdinaryDividend |
Jul 31, 2019 | $0.016 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Aug 17, 2021
0.79
0.8%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...