Overview

Historical Returns (%) as of Mar 31, 2024

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. The share class has no sales charge.
 

Fund Facts as of Mar 31, 2024

Class I Inception 04/29/2022
Investment Objective Total return
Total Net Assets $61.4M
Expense Ratio (Gross)2 0.96%
Expense Ratio (Net)2,3 0.74%
CUSIP 131582140

Top 10 Holdings (%)4,5 as of Mar 31, 2024

Walt Disney Co 4.56
NextEra Energy Inc 4.16
Reinsurance Group of America Inc 3.93
Charles Schwab Corp 3.92
Hasbro Inc 3.86
Micron Technology Inc 3.74
Wells Fargo & Co 3.67
Ball Corp 3.65
Zebra Technologies Corp 3.49
M&T Bank Corp 3.48
Total 38.46
 

Portfolio Management

Aaron Dunn, CFA Managed Fund since inception
Brad Galko, CFA Managed Fund since inception

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. The value of equity securities is sensitive to stock market volatility. 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. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. 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. 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.


1. Russell 1000® Value Index is an unmanaged index of U.S. large-cap value stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Source: Fund prospectus.
3. Net Expense Ratio reflects a contractual expense reimbursement that continues through 2/1/25. Without the reimbursement, if applicable, performance would have been lower.
4. Top 10 Holdings excludes cash and equivalents.
5. Percent of total net assets.

Performance

Historical Returns (%) as of Mar 31, 2024

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. The share class has no sales charge.
 

Fund Facts

Class I Inception 04/29/2022
Expense Ratio (Gross)2 0.96%
Expense Ratio (Net)2,3 0.74%
Distribution Frequency Annually
 

NAV History

Date NAV NAV Change
Apr 22, 2024 $10.93 $0.10
Apr 19, 2024 $10.83 $0.04
Apr 18, 2024 $10.79 -$0.02
Apr 17, 2024 $10.81 -$0.03
Apr 16, 2024 $10.84 -$0.04
Apr 15, 2024 $10.88 -$0.07
Apr 12, 2024 $10.95 -$0.21
Apr 11, 2024 $11.16 -$0.03
Apr 10, 2024 $11.19 -$0.12
Apr 09, 2024 $11.31 $0.04
 

Distribution History6

Ex-Date Distribution Reinvest NAV
Dec 21, 2023 $0.10800 $10.49
Dec 22, 2022 $0.01640 $9.77
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History6

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. The value of equity securities is sensitive to stock market volatility. 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. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. 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. 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.


1. Russell 1000® Value Index is an unmanaged index of U.S. large-cap value stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Source: Fund prospectus.
3. Net Expense Ratio reflects a contractual expense reimbursement that continues through 2/1/25. Without the reimbursement, if applicable, performance would have been lower.
6. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)5 as of Mar 31, 2024

Portfolio Statistics as of Mar 31, 2024

Average Market Cap $100.0B
Price/Earnings Ratio 17.88
Number of Holdings 32
Price/Book Ratio 2.72
Active Share7 93.92%
 

GICS Sector Breakdown (%)5 as of Mar 31, 2024

 

Fund Holdings (%)5,8 as of Feb 29, 2024

Holding % of Net Assets
Wells Fargo & Co 4.60%
Walt Disney Co 4.35%
Micron Technology Inc 4.12%
Charles Schwab Corp 3.79%
Thermo Fisher Scientific Inc 3.79%
Reinsurance Group of America Inc 3.77%
Ball Corp 3.63%
Dollar Tree Inc 3.50%
BJ's Wholesale Club Holdings Inc 3.49%
NextEra Energy Inc 3.48%
View All

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. The value of equity securities is sensitive to stock market volatility. 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. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. 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. 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.


1. Russell 1000® Value Index is an unmanaged index of U.S. large-cap value stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
5. Percent of total net assets.
7. Active Share is a measure of the differentiation of the holdings of a portfolio from the holdings of its appropriate benchmark index. It is calculated as one half of the sum of the absolute value of the differences found between the portfolio weights and the benchmark weights.
8. 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.

Management

Aaron Dunn, CFA

Aaron Dunn, CFA

Managing Director, Co-Head of Value Equity
Joined Eaton Vance 2012

Biography

Aaron is a managing director of Morgan Stanley. He is Co-Head of Value Equity and a portfolio manager on the Eaton Vance Value team. He is responsible for buy and sell decisions, portfolio construction and risk management. He is a member of the Eaton Vance Equity Strategy Committee. He joined Eaton Vance in 2012. Morgan Stanley acquired Eaton Vance in March 2021.

Aaron began his career in the investment management industry in 1999. Before joining Eaton Vance, Aaron was a senior equity analyst for Amundi Pioneer. He was previously affiliated with Invesco.

Aaron earned a B.S. from the University of Arkansas and an MBA from The University of Texas at Austin McCombs School of Business. He is a member of CFA Society Boston and a CFA charterholder.

Education
  • B.S. University of Arkansas
  • M.B.A. University of Texas at Austin

Experience
  • Managed Fund since inception

Other funds managed
 
Brad Galko, CFA

Brad Galko, CFA

Managing Director, Co-Head of Value Equity
Joined Eaton Vance 2013

Biography

Brad is a managing director of Morgan Stanley. He is Co-Head of Value Equity and a portfolio manager on the Eaton Vance Value team. He is responsible for buy and sell decisions, portfolio construction and risk management. He is a member of the Eaton Vance Equity Strategy Committee. He joined Eaton Vance in 2013. Morgan Stanley acquired Eaton Vance in March 2021.

Brad began his career in the investment management industry in 1991. Before joining Eaton Vance, Brad was a vice president and senior equity analyst at Amundi Pioneer. Previously, he was a vice president and senior equity research analyst at Morgan Stanley & Co.

Brad earned a B.B.A., magna cum laude, from the University of Notre Dame. He is a CFA charterholder and member of CFA Society Boston.

Education
  • B.B.A University of Notre Dame

Experience
  • Managed Fund since inception

Other funds managed
 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Mar 31, 2024

Annual Report

Download Annual Report - Last updated: Sep 30, 2023

Full Prospectus

Download Full Prospectus - Last updated: Feb 1, 2024

Q1 Holdings

Download Q1 Holdings - Last updated: Dec 31, 2023

Q3 Holdings

Download Q3 Holdings - Last updated: Jun 30, 2023

SAI

Download SAI - Last updated: Feb 1, 2024

Semi-Annual Report

Download Semi-Annual Report - Last updated: Mar 31, 2023

Summary Prospectus

Download Summary Prospectus - Last updated: Feb 1, 2024