Overview
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| Annualized | |||||||
| 1 Mo. | 3 Mos. | YTD | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
| 10/31/2024 | |||||||
|---|---|---|---|---|---|---|---|
| Fund at NAV | -1.40 | 0.17 | 3.18 | 7.05 | 1.17 | 1.30 | 1.52 |
| ICE BofA 1-3 Yr U.S. Treasury Index1 | -0.59 | 1.11 | 3.54 | 5.76 | 1.24 | 1.33 | 1.33 |
| ICE BofA 0-1 Yr U.S. Treasury Index2 | 0.28 | 1.34 | 4.36 | 5.47 | 3.33 | 2.28 | 1.72 |
| 09/30/2024 | |||||||
| Fund at NAV | 0.78 | 3.12 | 4.65 | 7.93 | 1.52 | 1.59 | 1.71 |
| ICE BofA 1-3 Yr U.S. Treasury Index1 | 0.80 | 2.87 | 4.15 | 6.74 | 1.33 | 1.51 | 1.42 |
| ICE BofA 0-1 Yr U.S. Treasury Index2 | 0.52 | 1.61 | 4.07 | 5.65 | 3.23 | 2.28 | 1.69 |
| 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. Effective December 31, 2023, the Fund changed its primary benchmark to the ICE BofA 1-3 Year U.S. Treasury Index because the investment adviser believes it is a more appropriate benchmark for the Fund. The share class has no sales charge. | |||||||
| Class I Inception | 05/04/2009 |
| Investment Objective | Total return |
| Total Net Assets | $2.5B |
| Minimum Investment | $1000000 |
| Expense Ratio3 | 0.77% |
| Adjusted Expense Ratio | 0.57% |
| CUSIP | 277923561 |
| Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Eaton Vance Funds, if applicable none of which are paid to Eaton Vance. |
| Time Period | Rating | Funds in Short Government Category |
| Overall | 90 | |
| 3 Years | 90 | |
| 5 Years | 85 | |
| 10 Years | 76 | |
| 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. |
| Andrew Szczurowski, CFA | Managed Fund since 2014 | ||
| Alex Payne, CFA | Managed Fund since 2020 |
Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.
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. Securities with longer durations tend to be more sensitive to interest rate changes than securities with shorter durations. As interest rates rise, the value of certain income investments is likely to decline. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. 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. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity. While certain U.S. Government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. 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. 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
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| Annualized | |||||||
| 1 Mo. | 3 Mos. | YTD | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
| 10/31/2024 | |||||||
|---|---|---|---|---|---|---|---|
| Fund at NAV | -1.40 | 0.17 | 3.18 | 7.05 | 1.17 | 1.30 | 1.52 |
| ICE BofA 1-3 Yr U.S. Treasury Index1 | -0.59 | 1.11 | 3.54 | 5.76 | 1.24 | 1.33 | 1.33 |
| ICE BofA 0-1 Yr U.S. Treasury Index2 | 0.28 | 1.34 | 4.36 | 5.47 | 3.33 | 2.28 | 1.72 |
| Morningstar Short Government Category4 | -0.74 | 0.78 | 3.36 | 6.25 | 0.71 | 0.91 | 1.08 |
| 09/30/2024 | |||||||
| Fund at NAV | 0.78 | 3.12 | 4.65 | 7.93 | 1.52 | 1.59 | 1.71 |
| ICE BofA 1-3 Yr U.S. Treasury Index1 | 0.80 | 2.87 | 4.15 | 6.74 | 1.33 | 1.51 | 1.42 |
| ICE BofA 0-1 Yr U.S. Treasury Index2 | 0.52 | 1.61 | 4.07 | 5.65 | 3.23 | 2.28 | 1.69 |
| Morningstar Short Government Category4 | 0.79 | 2.72 | 4.15 | 7.11 | 0.86 | 1.12 | 1.20 |
| 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. Effective December 31, 2023, the Fund changed its primary benchmark to the ICE BofA 1-3 Year U.S. Treasury Index because the investment adviser believes it is a more appropriate benchmark for the Fund. The share class has no sales charge. | |||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Fund at NAV | 2.72 | 1.39 | 1.46 | 1.82 | 2.25 | 1.98 | 2.79 | -0.26 | -3.05 | 3.72 |
| ICE BofA 1-3 Yr U.S. Treasury Index1 | 0.62 | 0.54 | 0.89 | 0.42 | 1.58 | 3.55 | 3.10 | -0.55 | -3.65 | 4.26 |
| ICE BofA 0-1 Yr U.S. Treasury Index2 | 0.11 | 0.16 | 0.61 | 0.83 | 1.92 | 2.57 | 1.12 | 0.06 | 0.68 | 5.05 |
| Class I Inception | 05/04/2009 |
| Expense Ratio3 | 0.77% |
| Adjusted Expense Ratio | 0.57% |
| Distribution Frequency | Monthly |
| Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Eaton Vance Funds, if applicable none of which are paid to Eaton Vance. |
| Distribution Rate at NAV | 6.13% |
| SEC 30-day Yield5 | 5.60% |
| Time Period | Rating | Funds in Short Government Category |
| Overall | 90 | |
| 3 Years | 90 | |
| 5 Years | 85 | |
| 10 Years | 76 | |
| 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 |
| Nov 20, 2024 | $7.16 | -$0.01 |
| Nov 19, 2024 | $7.17 | $0.00 |
| Nov 18, 2024 | $7.17 | $0.00 |
| Nov 15, 2024 | $7.17 | $0.01 |
| Nov 14, 2024 | $7.16 | -$0.01 |
| Nov 13, 2024 | $7.17 | $0.01 |
| Nov 12, 2024 | $7.16 | -$0.01 |
| Nov 11, 2024 | $7.17 | -$0.01 |
| Nov 08, 2024 | $7.18 | -$0.01 |
| Nov 07, 2024 | $7.19 | $0.02 |
| Ex-Date | Distribution | Reinvest NAV |
| Oct 31, 2024 | $0.03731 | $7.18 |
| Sep 30, 2024 | $0.03722 | $7.32 |
| Aug 30, 2024 | $0.03847 | $7.30 |
| Jul 31, 2024 | $0.03847 | $7.28 |
| Jun 28, 2024 | $0.03722 | $7.21 |
| May 31, 2024 | $0.03847 | $7.18 |
| Apr 30, 2024 | $0.03722 | $7.11 |
| Mar 28, 2024 | $0.03847 | $7.23 |
| Feb 29, 2024 | $0.03598 | $7.21 |
| Jan 31, 2024 | $0.03847 | $7.32 |
| 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.
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. Securities with longer durations tend to be more sensitive to interest rate changes than securities with shorter durations. As interest rates rise, the value of certain income investments is likely to decline. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. 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. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity. While certain U.S. Government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. 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. 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
|
|
|
| Ginnie Mae Agency MBS | 41.70 |
| Fannie Mae Agency MBS | 30.08 |
| Freddie Mac Agency MBS | 25.52 |
| Other Government | 2.70 |
| Total | 100.00 |
| Number of Holdings | 749 |
| Average Coupon | 5.19% |
| Average Duration | 2.38 yrs. |
| Weighted Average Price8 | $97.67 |
| Weighted Average Price (Floating Rate)8 | $100.29 |
| Weighted Average Price (Fixed Rate)8 | $97.20 |
|
|
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| Fixed Rate | 84.34 |
| Floating Rate | 15.66 |
|
|
|
| AAA | 100.00 |
| 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. |
Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.
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. Securities with longer durations tend to be more sensitive to interest rate changes than securities with shorter durations. As interest rates rise, the value of certain income investments is likely to decline. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. 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. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity. While certain U.S. Government-sponsored agencies may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. 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. 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
Andrew Szczurowski, CFA
Managing Director, Co-Head of Mortgage & Securitized
Joined Eaton Vance 2007
Biography
Andrew Szczurowski is Co-Head of the Mortgage and Securitized investment team and a portfolio manager on Mortgage and Securitized investment team. He joined Eaton Vance in 2007. Morgan Stanley acquired Eaton Vance in March 2021. Previously at Eaton Vance, he was a portfolio manager on Eaton Vance's Global Income team, responsible for buy and sell decisions, portfolio construction, and risk management for the firm's mortgage-backed strategies.
Andrew began his career in the investment industry in 2005. Before joining Eaton Vance, he was affiliated with BNY Mellon. Andrew earned a B.S., cum laude, from the Peter T. Paul College of Business and Economics at the University of New Hampshire. He holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston.
Education
- B.S. University of New Hampshire
Experience
- Managed Fund since 2014
Other funds managed
Alex Payne, CFA
Managing Director, Portfolio Manager
Joined Eaton Vance 2015
Biography
Alexander Payne is a portfolio manager on the Mortgage and Securitized investment team He is responsible for buy and sell decisions, portfolio construction, and risk management. He joined Eaton Vance in 2015. Morgan Stanley acquired Eaton Vance in March 2021.
Alex began his career in the investment industry in 2007. Before joining Eaton Vance, he was a mortgage trader at Goldman Sachs. Alex earned a B.A. in government from Dartmouth College and holds the Chartered Financial Analyst designation.
Education
- B.A. Dartmouth College
Experience
- Managed Fund since 2020
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
Annual Report
Full Prospectus
Short Duration Government Income Fund Holdings
Download Short Duration Government Income Fund Holdings - Last updated: Sep 30, 2024
