Overview
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| Annualized | |||||||
| 1 Mo. | 3 Mos. | YTD | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
| 11/30/2024 | |||||||
|---|---|---|---|---|---|---|---|
| Fund at NAV | -0.63 | -2.76 | 0.66 | 4.15 | 0.76 | 0.33 | 1.60 |
| Fund w/Max Sales Charge | -3.85 | -5.80 | -2.65 | 0.64 | -0.34 | -0.33 | 1.27 |
| J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified1 | -0.57 | -1.94 | -0.46 | 2.73 | 0.20 | -0.67 | 0.02 |
| 09/30/2024 | |||||||
| Fund at NAV | 3.20 | 8.84 | 6.83 | 15.84 | 1.69 | 2.01 | 2.19 |
| Fund w/Max Sales Charge | -0.02 | 5.32 | 3.32 | 12.15 | 0.56 | 1.34 | 1.86 |
| J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified1 | 3.39 | 8.99 | 4.95 | 13.42 | 0.60 | 0.59 | 0.57 |
| Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Max Sales Charge: 3.25%. | |||||||
| Class A Inception | 06/27/2007 |
| Investment Objective | Total return |
| Total Net Assets | $942.5M |
| Minimum Investment | $1000 |
| Expense Ratio2 | 1.13% |
| CUSIP | 277923694 |
| Time Period | Rating | Funds in Emerging-Markets Local-Currency Bond Category |
| Overall | 64 | |
| 3 Years | 64 | |
| 5 Years | 62 | |
| 10 Years | 56 | |
| The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses. ©2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. |
| Brian Shaw, CFA | Managed Fund since 2021 | ||
| Patrick Campbell, CFA | Managed Fund since 2022 |
Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.
RISK CONSIDERATIONS
The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging or frontier countries, these risks may be more significant. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.
See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.
Performance
|
|
|||||||
| Annualized | |||||||
| 1 Mo. | 3 Mos. | YTD | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
| 11/30/2024 | |||||||
|---|---|---|---|---|---|---|---|
| Fund at NAV | -0.63 | -2.76 | 0.66 | 4.15 | 0.76 | 0.33 | 1.60 |
| Fund w/Max Sales Charge | -3.85 | -5.80 | -2.65 | 0.64 | -0.34 | -0.33 | 1.27 |
| J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified1 | -0.57 | -1.94 | -0.46 | 2.73 | 0.20 | -0.67 | 0.02 |
| 09/30/2024 | |||||||
| Fund at NAV | 3.20 | 8.84 | 6.83 | 15.84 | 1.69 | 2.01 | 2.19 |
| Fund w/Max Sales Charge | -0.02 | 5.32 | 3.32 | 12.15 | 0.56 | 1.34 | 1.86 |
| J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified1 | 3.39 | 8.99 | 4.95 | 13.42 | 0.60 | 0.59 | 0.57 |
| Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Max Sales Charge: 3.25%. | |||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Fund at NAV | -4.04 | -12.68 | 12.33 | 16.10 | -8.40 | 22.64 | 4.67 | -7.64 | -11.98 | 13.63 |
| J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified1 | -5.72 | -14.92 | 9.94 | 15.21 | -6.21 | 13.47 | 2.69 | -8.75 | -11.69 | 12.70 |
| Class A Inception | 06/27/2007 |
| Expense Ratio2 | 1.13% |
| Distribution Frequency | Monthly |
| Distribution Rate at NAV | 10.89% |
| SEC 30-day Yield3 | 9.50% |
| Time Period | Rating | Funds in Emerging-Markets Local-Currency Bond Category |
| Overall | 64 | |
| 3 Years | 64 | |
| 5 Years | 62 | |
| 10 Years | 56 | |
| The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses. ©2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. |
| Date | NAV | NAV Change |
| Dec 20, 2024 | $3.19 | $0.02 |
| Dec 19, 2024 | $3.17 | -$0.01 |
| Dec 18, 2024 | $3.18 | -$0.03 |
| Dec 17, 2024 | $3.21 | -$0.01 |
| Dec 16, 2024 | $3.22 | -$0.01 |
| Dec 13, 2024 | $3.23 | -$0.01 |
| Dec 12, 2024 | $3.24 | -$0.01 |
| Dec 11, 2024 | $3.25 | $0.00 |
| Dec 10, 2024 | $3.25 | $0.00 |
| Dec 09, 2024 | $3.25 | $0.01 |
| Ex-Date | Distribution | Reinvest NAV |
| Nov 27, 2024 | $0.02930 | $3.22 |
| Oct 30, 2024 | $0.02930 | $3.29 |
| Sep 27, 2024 | $0.02930 | $3.50 |
| Aug 29, 2024 | $0.02930 | $3.41 |
| Jul 30, 2024 | $0.02930 | $3.32 |
| Jun 27, 2024 | $0.02930 | $3.28 |
| May 30, 2024 | $0.02930 | $3.38 |
| Apr 29, 2024 | $0.02930 | $3.33 |
| Mar 27, 2024 | $0.02930 | $3.43 |
| Feb 28, 2024 | $0.02930 | $3.41 |
| View All | ||
| No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years. Fund prospectus |
| Ex-Date | Short-Term | Long-Term | Reinvest NAV |
| No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years. Fund prospectus |
Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.
RISK CONSIDERATIONS
The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging or frontier countries, these risks may be more significant. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.
See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.
Portfolio
| Local Sovereign | 135.67 |
| External Sovereign | 4.45 |
| Corporate | 9.31 |
| Loan | 0.00 |
| Countries Represented | 44 |
|
|
|
| AAA | 2.78 |
| AA | 1.70 |
| A | 8.77 |
| BBB | 26.66 |
| BB | 39.60 |
| B | 16.73 |
| CCC or Lower | 1.66 |
| Not Rated | 2.10 |
| Total | 100.00 |
| Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the highest rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above. |
| Interest-Rate Duration (yrs.) | |
| Emerging Markets | 6.83 |
| Credit Spread Duration (yrs.) | |
| Sovereign | 0.16 |
| Corporate | 0.20 |
| Egypt | 12.27 |
| Malaysia | 9.69 |
| Uzbekistan | 9.42 |
| Mexico | 9.28 |
| India | 9.24 |
| Thailand | 8.75 |
| Indonesia | 7.45 |
| Brazil | 6.91 |
| Poland | 6.60 |
| China | 5.24 |
| View All |
| South Africa | 0.79 |
| Thailand | 0.66 |
| Mexico | 0.57 |
| India | 0.53 |
| Poland | 0.52 |
| Indonesia | 0.52 |
| China | 0.46 |
| Czech Republic | 0.44 |
| Colombia | 0.31 |
| Peru | 0.29 |
| View All |
Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.
RISK CONSIDERATIONS
The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging or frontier countries, these risks may be more significant. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.
See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.
Management
Brian Shaw, CFA
Executive Director, Portfolio Manager
Joined Eaton Vance in 2008
Biography
Brian Shaw is a portfolio manager on the Emerging Markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team's emerging markets strategies. He joined Eaton Vance in 2008. Morgan Stanley acquired Eaton Vance in March 2021.
Brian began his career in the investment management industry in 2007. Before joining Eaton Vance, he was affiliated with Graham Capital Management, LP.
Brian earned a B.A. from Vanderbilt University and an MBA from the University of Chicago. He is a member of the CFA Society Boston and is a CFA charterholder.
Education
- B.A. Vanderbilt University
- M.B.A University of Chicago
Experience
- Managed Fund since 2021
Other funds managed
Patrick Campbell, CFA
Managing Director, Portfolio Manager
Joined Eaton Vance 2008
Biography
Patrick Campbell is a portfolio manager on the Emerging Markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team's emerging markets strategies. He is also responsible for the analysis of macroeconomics, politics and financial markets of Latin America and the management of regional investments in various emerging markets portfolios. He began his career in the investment management industry with Eaton Vance in 2008. Morgan Stanley acquired Eaton Vance in March 2021.
Patrick earned a B.A. from Boston College. He is a member of the CFA Society Boston and is a CFA charterholder.
Education
- B.A. Boston College
Experience
- Managed Fund since 2022
Other funds managed
Literature
Literature
Fact Sheet
Download Fact Sheet - Last updated: Sep 30, 2024
Annual Financial Statements and Add'l Information
Semi-Annual Financial Statements and Add'l Information
Download Semi-Annual Financial Statements and Add'l Information
Commentary
Download Commentary - Last updated: Sep 30, 2024
Attribution
Download Attribution - Last updated: Sep 30, 2024
Report of Organizational Actions Affecting Basis of Securities
Download Report of Organizational Actions Affecting Basis of Securities - Last updated: Jan 20, 2021
Annual Report
Full Prospectus
Emerging Markets Local Income Holdings
Download Emerging Markets Local Income Holdings - Last updated: Oct 31, 2024
