Floating-Rate Income Trust (EFT)

Overview

Historical Returns (%) as of Sep 30, 2024

10/31/2024 09/30/2024
10/31/2024	as of Oct 31, 2024

					Annualized
	1 Mo.	3 Mos.	YTD	1 Yr.	3 Yrs.	5 Yrs.	10 Yrs.
Fund at NAV	1.14	2.73	8.01	13.09	6.50	6.19	5.72
Market Price	2.63	-0.09	13.00	24.36	5.19	8.55	6.65
09/30/2024	as of Sep 30, 2024
Fund at NAV	0.70	2.25	6.79	11.36	6.17	5.79	5.63
Market Price	-1.06	-1.49	10.10	16.87	5.46	8.10	6.22
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, 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. The Fund's performance at market price will differ from its results at NAV. Returns are historical and are calculated by determining the percentage change in net asset value or market price (as applicable) with all distributions reinvested and includes management fees and other expenses. Until the reinvestment of Fund distributions is completed, returns are calculated using the lower of the net asset value or market price of the shares on the distribution ex date. Once the reinvestment is complete, returns are calculated using the average reinvestment price. Performance less than or equal to one year is cumulative. Fund performance during certain periods reflects the strong loan market performance and the Fund’s use of leverage during those periods. This performance is not typical and may not be repeated.

Distribution Rates¹

11/20/2024
	as of Nov 20, 2024
Distribution Rate at NAV	9.86%
Distribution Rate at Market Price	9.75%

Fund Facts as of Oct 31, 2024

10/31/2024
Performance Inception	06/29/2004
Investment Objective	High current income
Total Net Assets	$348.9M
CUSIP	278279104

Expense Ratios (%)²

06/30/2024
as of Annual Report dated 05/31/2024
Management Fees	1.16
Other Expenses	0.23
Total Expenses (ex Interest and Fee Expense)	1.39
Interest and Fee Expense	3.87
Total Expenses	5.26

Portfolio Management

12/05/2023
Ralph Hinckley, CFA			Managed Fund since 2008
Andrew N. Sveen, CFA			Managed Fund since 2019
Catherine McDermott			Managed Fund since 2019
Daniel P. McElaney, CFA			Managed Fund since 2019
Sarah A. Choi			Managed Fund since 2022

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Fund are only available for purchase and sale at current market price on a stock exchange. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Investors should review and consider carefully the Fund’s investment objective, risks, charges and expenses.

The premium/discount is calculated as [(market price/NAV)-1].

Links to Morningstar Fact Sheet and CEF Connect: By clicking on the link from this page to the Morningstar fact sheet or CEF Connect, you will leave the Eaton Vance website. Eaton Vance is not responsible for the content of any such third-party website. See “Terms and Conditions” below.

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.

Performance

Historical Returns (%) as of Sep 30, 2024

10/31/2024 09/30/2024
10/31/2024	as of Oct 31, 2024

					Annualized
	1 Mo.	3 Mos.	YTD	1 Yr.	3 Yrs.	5 Yrs.	10 Yrs.
Fund at NAV	1.14	2.73	8.01	13.09	6.50	6.19	5.72
Market Price	2.63	-0.09	13.00	24.36	5.19	8.55	6.65
09/30/2024	as of Sep 30, 2024
Fund at NAV	0.70	2.25	6.79	11.36	6.17	5.79	5.63
Market Price	-1.06	-1.49	10.10	16.87	5.46	8.10	6.22
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, 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. The Fund's performance at market price will differ from its results at NAV. Returns are historical and are calculated by determining the percentage change in net asset value or market price (as applicable) with all distributions reinvested and includes management fees and other expenses. Until the reinvestment of Fund distributions is completed, returns are calculated using the lower of the net asset value or market price of the shares on the distribution ex date. Once the reinvestment is complete, returns are calculated using the average reinvestment price. Performance less than or equal to one year is cumulative. Fund performance during certain periods reflects the strong loan market performance and the Fund’s use of leverage during those periods. This performance is not typical and may not be repeated.

Calendar Year Returns (%)

12/31/2023
	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Fund at NAV	1.04	-2.59	16.93	6.43	0.20	10.72	1.90	6.51	-5.88	18.44
Market Price	-3.41	-2.74	25.71	1.63	-6.19	16.79	2.25	21.03	-20.17	26.93

Fund Facts

10/31/2024
Performance Inception	06/29/2004

Distribution Rates¹

11/20/2024
	as of Nov 20, 2024
Distribution Rate at NAV	9.86%
Distribution Rate at Market Price	9.75%

Distribution History^3,4

11/20/2024
Ex-Date	Distribution	Reinvest Price
Oct 23, 2024	$0.10900
Sep 20, 2024	$0.11000	$12.84
Aug 22, 2024	$0.11400
Jul 23, 2024	$0.11800
Jun 21, 2024	$0.11800
May 23, 2024	$0.11800
Apr 22, 2024	$0.11800
Mar 20, 2024	$0.11800
Feb 21, 2024	$0.11800
Dec 27, 2023	$0.15760
View All
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.

Tax Character of Distributions

Distributions ($)Distributions (%)
Distributions ($)	as of Dec 31, 2023
	Ordinary Dividends
	Non-Qualified	Qualified	Total	Capital Gain Distributions	Nondividend Distributions	Total Distributions
2023	$1.39	$0.00	$1.39	$0.00	$0.00	$1.39
2022	$0.88	$0.01	$0.88	$0.00	$0.13	$1.01
2021	$0.77	$0.02	$0.79	$0.00	$0.00	$0.79
2020	$0.77	$0.00	$0.77	$0.00	$0.00	$0.77
2019	$0.00	$0.00	$0.00	$1.21	$0.00	$1.21
2018	$0.00	$0.00	$0.00	$1.05	$0.00	$1.05
2017	$0.00	$0.00	$0.00	$0.42	$0.63	$1.05
2016	$0.00	$0.05	$0.05	$0.13	$0.87	$1.05
2015	$0.00	$0.13	$0.13	$0.55	$0.37	$1.05
2014	$0.03	$0.17	$0.20	$0.85	$0.00	$1.05
2013	$0.00	$0.13	$0.13	$0.92	$0.00	$1.05
2012	$0.00	$0.11	$0.11	$0.00	$0.95	$1.06
2011	$0.00	$0.03	$0.03	$0.00	$1.08	$1.11
2010	$0.00	$0.07	$0.07	$0.00	$1.34	$1.41
2009	$0.00	$0.08	$0.08	$0.00	$1.65	$1.73
2008	$0.03	$0.00	$0.03	$0.00	$1.70	$1.73
2007	$1.24	$0.15	$1.39	$0.21	$0.13	$1.73
2006	$1.20	$0.38	$1.58	$0.08	$0.07	$1.73
2005	$1.31	$0.13	$1.44	$0.00	$0.00	$1.44
Distributions (%)	as of Dec 31, 2023
2023	100.00%	0.00%	100.00%	0.00%	0.00%	100.00%
2022	86.95%	0.60%	87.55%	0.00%	12.45%	100.00%
2021	98.09%	1.91%	100.00%	0.00%	0.00%	100.00%
2020	100.00%	0.00%	100.00%	0.00%	0.00%	100.00%
2019	0.00%	0.00%	0.00%	100.00%	0.00%	100.00%
2018	0.00%	0.00%	0.00%	100.00%	0.00%	100.00%
2017	0.00%	0.00%	0.00%	40.24%	59.76%	100.00%
2016	0.00%	5.10%	5.10%	12.00%	82.90%	100.00%
2015	0.00%	12.26%	12.26%	52.44%	35.30%	100.00%
2014	3.00%	16.49%	19.49%	80.51%	0.00%	100.00%
2013	0.00%	12.03%	12.03%	87.97%	0.00%	100.00%
2012	0.00%	10.56%	10.56%	0.00%	89.44%	100.00%
2011	0.00%	2.79%	2.79%	0.00%	97.21%	100.00%
2010	0.00%	4.68%	4.68%	0.00%	95.32%	100.00%
2009	0.00%	4.67%	4.67%	0.00%	95.33%	100.00%
2008	1.48%	0.00%	1.48%	0.00%	98.52%	100.00%
2007	71.33%	8.93%	80.26%	12.06%	7.68%	100.00%
2006	69.29%	21.91%	91.20%	4.67%	4.13%	100.00%
2005	90.68%	9.32%	100.00%	0.00%	0.00%	100.00%

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.

1. Distribution Rate at NAV and Market Price is calculated by dividing the last distribution paid per share (annualized) by NAV or market price, respectively. A Fund's distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with "yield" or "income."
3. See “Tax Character of Distributions”. For information about any distributions in the current year estimated to include non-dividend distributions or capital gains, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a).
4. A nondividend or return of capital distribution may include, for example, a return of some or all of the money that an investor invested in Fund shares, which can cause the Fund's NAV to erode.

Portfolio

Fund Holdings^5,6,7 as of Sep 30, 2024

09/30/2024
Holding	Coupon Rate	Maturity Date	% of Net Assets
MSILF GOVERNMENT PORTFOLIO MSILF GOVERNMENT PORTFOLIO	4.80%	12/31/2030	2.54%
UKG Inc.	7.93%	02/10/2031	1.51%
Les Schwab Tire Centers	7.85%	04/23/2031	1.44%
Citrix	8.60%	03/30/2029	1.28%
Ellucian Holdings Inc	8.45%	10/29/2029	1.18%
Virgin Media	8.46%	01/31/2029	1.17%
Syncsort / Precisely	9.51%	04/24/2028	1.16%
Coinmach	9.26%	03/04/2028	1.14%
BMC Software	9.01%	07/30/2031	1.12%
Epicor	8.10%	05/30/2031	1.08%
View All

Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.

5. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.
6. Percent of total net assets.
7. The stated interest rate represents the weighted average interest rate of all loans made under senior loan facility and includes commitment fees on unfunded loan commitments, if any, and will vary over time.

Management

Ralph Hinckley, CFA

Managing Director, Portfolio Manager
Joined Eaton Vance 2003

Biography

Ralph Hinckley is a portfolio manager on the Floating-Rate Loans 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 2003. Morgan Stanley acquired Eaton Vance in March 2021.

Ralph began his career in the investment management industry in 1997. Before joining Eaton Vance, he was a vice president in the communications lending division of Citizens Bank and its credit training program and a lending officer at State Street Bank.

Ralph earned a B.A. from Bates College and an MBA, with honors, from Boston University Graduate School of Management. He is a member of the CFA Society Boston and is a CFA charterholder.

Education

B.A. Bates College
M.B.A. Boston University

Experience

Managed Fund since 2008

Andrew N. Sveen, CFA

Managing Director, Chairman of MSIM Fixed Income and Head of Floating-Rate Loans
Joined Eaton Vance 1999

Biography

Andrew Sveen is the Chairman of MSIM Fixed Income. In addition, he is the Head of Floating-Rate Loans and a portfolio manager on the Floating-Rate Loans 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. Morgan Stanley acquired Eaton Vance in March 2021.

Andrew began his career in the investment industry in 1995. Previously at Eaton Vance, he was a Director within 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 M.B.A. from the William E. Simon School at the University of Rochester. He also holds the Chartered Financial Analyst designation. Andrew serves as a member of the Board of Directors of the Loan Syndications and Trading Association (LSTA).

Education

B.A. Dartmouth College
M.B.A. University of Rochester

Experience

Managed Fund since 2019

Other funds managed

Catherine McDermott

Managing Director, Portfolio Manager
Joined Eaton Vance 2000

Biography

Catherine McDermott is a Portfolio Manager on the Floating-Rate Loan team. She is responsible for buy and sell decisions, portfolio construction and risk management for the firm's floating-rate loan strategies. Her focus is primarily on the automotive industry in addition to casinos, general industrial, theaters, packaging and consumer products. She joined Eaton Vance in 2000. Morgan Stanley acquired Eaton Vance in March 2021.

Catherine began her career in the investment management industry in 1988. Before joining Eaton Vance, she was a principal at Cypress Tree Investment Management and a vice president of corporate underwriting and research at Financial Security Assurance Inc.

Catherine earned a B.A., summa cum laude, from Boston College.

Education

B.A. Boston College

Experience

Managed Fund since 2019

Other funds managed

Daniel P. McElaney, CFA

Executive Director, Portfolio Manager
Joined Eaton Vance 2004

Biography

Daniel McElaney is a portfolio manager and Senior Credit Analyst on the Floating-Rate Loans team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team's floating-rate loan strategies. He also focuses on coverage of the chemicals, business services, building materials and industrial equipment sectors. He joined Eaton Vance in 2004. Morgan Stanley acquired Eaton Vance in March 2021.

Daniel began his career in the investment management industry in 2002. Before joining Eaton Vance, he was affiliated with Investors Bank & Trust.

Daniel earned a B.S. from Babson College. He is a member of the CFA Society Boston and is a CFA charterholder.

Education

B.S. Babson College

Experience

Managed Fund since 2019

Other funds managed

Sarah A. Choi

Executive Director, Portfolio Manager
Joined Eaton Vance in 2019

Biography

Sarah Choi is a vice president of Eaton Vance Management and a senior credit analyst on Eaton Vance's floating-rate loan team. She joined Eaton Vance in 2019.

Sarah began her career in the investment management industry in 2007. Before joining Eaton Vance, she was a senior vice president and senior credit analyst at Apex Credit Partners. Previously, she was a vice president in leveraged finance portfolio management and underwriting at Jeffries Finance and an analyst in leveraged finance portfolio management at Royal Bank of Scotland.

Sarah earned a B.S. from Boston College.