Enhanced Equity Income Fund (EOI)

Overview

Historical Returns (%) as of Mar 31, 2024

03/31/2024

					Annualized
	1 Mo.	3 Mos.	YTD	1 Yr.	3 Yrs.	5 Yrs.	10 Yrs.
Fund at NAV	2.33	12.30	12.30	31.26	10.80	13.03	10.83
Market Price	1.82	11.97	11.97	29.67	10.89	13.00	11.48
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. The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. Click here for more information.

Distribution Rates^1,2

04/18/2024
	as of Apr 18, 2024
Distribution Rate at NAV	7.24%
Distribution Rate at Market Price	7.34%

Fund Facts as of Mar 31, 2024

03/31/2024
Performance Inception	10/29/2004
Investment Objective	Current income
Total Net Assets	$762.6M
CUSIP	278274105

Expense Ratios (%)

01/31/2024
as of Annual Report dated 09/30/2023
Management Fees	1.00
Other Expenses	0.11
Total Expenses	1.10

Portfolio Management

12/12/2023
Charles Gaffney			Managed Fund since 2023
Douglas R. Rogers, CFA, CMT			Managed Fund since 2023

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.

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. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived and well-executed options program may be adversely affected by market behavior or unexpected events. As the writer of a call option, the Fund forgoes, during the option's life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the option premium received and the exercise price of the call, but has retained the risk of loss, minus the option premium received, should the price of the underlying security decline. In addition, the trading price of options may be adversely affected if the market for such options becomes less liquid or smaller. 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. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 may engage in other investment practices that may involve additional risks.

Performance

Historical Returns (%) as of Mar 31, 2024

03/31/2024

					Annualized
	1 Mo.	3 Mos.	YTD	1 Yr.	3 Yrs.	5 Yrs.	10 Yrs.
Fund at NAV	2.33	12.30	12.30	31.26	10.80	13.03	10.83
Market Price	1.82	11.97	11.97	29.67	10.89	13.00	11.48
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. The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. There is no assurance that the Fund will always be able to pay distributions of a particular size. Click here for more information.

Calendar Year Returns (%)

12/31/2023
	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Fund at NAV	9.82	2.64	5.55	19.72	-4.25	27.60	13.52	24.97	-17.91	24.35
Market Price	14.51	5.24	0.25	26.17	-4.20	31.97	9.49	32.94	-19.70	20.60

Fund Facts

03/31/2024
Performance Inception	10/29/2004

Distribution Rates^1,2

04/18/2024
	as of Apr 18, 2024
Distribution Rate at NAV	7.24%
Distribution Rate at Market Price	7.34%

Distribution History^3,4

04/18/2024
Ex-Date	Distribution	Reinvest Price
Mar 20, 2024	$0.10950
Feb 21, 2024	$0.10950
Jan 22, 2024	$0.10950
Dec 21, 2023	$0.10950
Nov 21, 2023	$0.10950
Oct 20, 2023	$0.10950
Sep 21, 2023	$0.10950
Aug 21, 2023	$0.10950
Jul 21, 2023	$0.10950
Jun 21, 2023	$0.10950
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	$0.00	$0.05	$0.05	$1.26	$0.00	$1.31
2022	$0.00	$0.08	$0.08	$1.24	$0.00	$1.31
2021	$0.00	$0.13	$0.13	$1.01	$0.03	$1.18
2020	$0.00	$0.13	$0.13	$0.00	$0.95	$1.08
2019	$0.00	$0.11	$0.11	$0.97	$0.00	$1.08
2018	$0.00	$0.09	$0.09	$0.85	$0.10	$1.04
2017	$0.00	$0.10	$0.10	$0.13	$0.81	$1.04
2016	$0.00	$0.11	$0.11	$0.00	$0.93	$1.04
2015	$0.00	$0.24	$0.24	$0.62	$0.18	$1.04
2014	$0.29	$0.22	$0.51	$0.28	$0.25	$1.04
2013	$0.04	$0.23	$0.27	$0.77	$0.00	$1.04
2012	$0.00	$0.08	$0.08	$0.00	$0.97	$1.05
2011	$0.00	$0.02	$0.02	$0.00	$1.08	$1.10
2010	$0.00	$0.01	$0.01	$0.00	$1.36	$1.37
2009	$0.00	$0.17	$0.17	$0.00	$1.47	$1.64
2008	$0.49	$0.30	$0.79	$0.00	$0.72	$1.51
2007	$0.87	$0.23	$1.10	$0.66	$0.00	$1.76
2006	$1.26	$0.25	$1.51	$0.27	$0.00	$1.78
2005	$1.30	$0.21	$1.51	$0.00	$0.00	$1.51
Distributions (%)	as of Dec 31, 2023
2023	0.00%	4.11%	4.11%	95.89%	0.00%	100.00%
2022	0.00%	5.72%	5.72%	94.28%	0.00%	100.00%
2021	0.00%	11.45%	11.45%	85.65%	2.89%	100.00%
2020	0.00%	12.00%	12.00%	0.00%	88.00%	100.00%
2019	0.00%	10.27%	10.27%	89.73%	0.00%	100.00%
2018	0.00%	8.61%	8.61%	81.71%	9.68%	100.00%
2017	0.00%	9.83%	9.83%	11.91%	78.26%	100.00%
2016	0.00%	10.71%	10.71%	0.00%	89.29%	100.00%
2015	0.00%	22.69%	22.69%	60.15%	17.16%	100.00%
2014	28.56%	20.94%	49.50%	26.64%	23.86%	100.00%
2013	3.78%	22.47%	26.25%	73.75%	0.00%	100.00%
2012	0.00%	7.48%	7.48%	0.00%	92.52%	100.00%
2011	0.00%	1.72%	1.72%	0.00%	98.28%	100.00%
2010	0.00%	0.54%	0.54%	0.00%	99.46%	100.00%
2009	0.00%	10.76%	10.76%	0.00%	89.24%	100.00%
2008	32.51%	20.14%	52.65%	0.00%	47.35%	100.00%
2007	48.98%	13.33%	62.31%	37.69%	0.00%	100.00%
2006	70.77%	13.93%	84.70%	15.30%	0.00%	100.00%
2005	86.10%	13.90%	100.00%	0.00%	0.00%	100.00%

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

RISK CONSIDERATIONS

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."
2. The Fund has adopted a policy to pay common shareholders a stable monthly distribution, and may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and non-dividend distributions, also known as return of capital.
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. The Fund has adopted a policy to pay common shareholders a stable monthly distribution. In an effort to maintain a stable distribution amount, the Fund may pay distributions consisting of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains distributions and nondividend distributions, also known as return of capital. 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. There is no assurance that the Fund will always be able to pay distributions of a particular size.

Portfolio

Fund Holdings (%)^5,6 as of Feb 29, 2024

02/29/2024
Holding	% of Net Assets
Microsoft Corp	8.96%
Apple Inc	6.27%
NVIDIA Corp	5.39%
Amazon.com Inc	5.21%
Meta Platforms Inc	4.13%
Alphabet Inc - CL C	3.48%
AbbVie Inc	2.81%
Eli Lilly & Co	2.61%
Walmart Inc	2.36%
Allstate Corp	2.10%
View All

Complete options holdings for this Fund may be seen in the Fund’s quarterly N-Q filing. Common equity holdings are released on a monthly basis with a 30-day lag. Click here for more information.

RISK CONSIDERATIONS

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

Management

Charles Gaffney

Managing Director, Portfolio Manager

Biography

Charlie is a managing director of Morgan Stanley and a portfolio manager on the Eaton Vance Core/Growth team. He is responsible for buy and sell decisions, portfolio construction and risk management for a number of Eaton Vance U.S. core equity strategies. He is a member of the Eaton Vance Equity Strategy Committee. He is also a vice president and portfolio manager for Calvert Research and Management. He joined Eaton Vance in 2003. Morgan Stanley acquired Eaton Vance in March 2021.

Charlie began his career in the investment management industry in 1996. Before joining Eaton Vance, he was a sector portfolio manager with Brown Brothers Harriman and a senior equity analyst with Morgan Stanley Dean Witter.

Charlie earned a B.A. from Bowdoin College and an MBA from Fordham University.

Education

B.A. Bowdoin College
M.B.A. Graduate School of Business, Fordham University

Experience

Managed Fund since 2023

Other funds managed

Douglas R. Rogers, CFA, CMT

Executive Director, Portfolio Manager
Joined Eaton Vance 2001

Biography

Doug is an executive director of Morgan Stanley and a portfolio manager on the Eaton Vance Core/Growth team. He is responsible for buy and sell decisions, portfolio construction and risk management for Eaton Vance growth equity strategies. In addition, he covers the information technology and communication services sectors. He joined Eaton Vance in 2001. Morgan Stanley acquired Eaton Vance in March 2021.

Doug served as a nuclear submarine officer in the United States Navy prior to beginning his career in the investment management industry in 1999. Before joining Eaton Vance, he was a research analyst with Endeca Technologies Inc.

Doug earned a B.S. from the United States Naval Academy and an MBA from Harvard Business School. He holds the Chartered Market Technician (CMT®) designation and is a CFA charterholder.