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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.
 

Fund Facts as of May 31, 2024

Class R6 Inception 07/01/2014
Performance Inception 06/30/2006
Investment Objective Long-term capital appreciation
Total Net Assets $190.5M
Minimum Investment $5000000
Expense Ratio (Gross)2,3 1.36%
Expense Ratio (Net)2,3 1.17%
CUSIP 27826A797

Top 10 Holdings (%)4,5 as of Apr 30, 2024

Taiwan Semiconductor Manufac 1.31
Tencent Holdings Ltd 1.00
Samsung Electronics Co Ltd 0.86
Tupras-Turkiye Petrol Rafine 0.72
America Movil Sab De C-Ser B 0.72
Naspers Ltd-N Shs 0.68
Turkcell Iletisim Hizmet As 0.65
Southern Copper Corp 0.65
Petrochina Co Ltd-H 0.64
Delta Electronics Thai-Forgn 0.63
Total 7.86
 

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. In emerging countries, these risks may be more significant. 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 sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. 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

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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.
 

Calendar Year Returns (%)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund at NAV -3.80 -16.34 12.34 27.40 -13.79 12.67 2.94 4.61 -11.00 9.82
MSCI Emerging Markets Index1 -2.19 -14.92 11.19 37.28 -14.57 18.42 18.31 -2.54 -20.09 9.83
 

Fund Facts

Class R6 Inception 07/01/2014
Performance Inception 06/30/2006
Expense Ratio (Gross)2,3 1.36%
Expense Ratio (Net)2,3 1.17%
Distribution Frequency Annually

Risk Measures (3 Year)7 as of May 31, 2024

Alpha (%) 4.13
Beta 0.75
R-Squared (%) 91.12
Standard Deviation (%) 13.93
Sharpe Ratio -0.25
 

Morningstar Rating™ as of May 31, 2024

Time Period Rating Funds in
Diversified Emerging Mkts
Category
Overall 717
3 Years 717
5 Years 651
10 Years 425
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.
 

NAV History

Date NAV NAV Change
Jun 17, 2024 $14.18 $0.00
Jun 14, 2024 $14.18 -$0.01
Jun 13, 2024 $14.19 -$0.02
Jun 12, 2024 $14.21 $0.08
Jun 11, 2024 $14.13 -$0.10
Jun 10, 2024 $14.23 $0.02
Jun 07, 2024 $14.21 -$0.09
Jun 06, 2024 $14.30 $0.04
Jun 05, 2024 $14.26 $0.08
Jun 04, 2024 $14.18 -$0.11
 

Distribution History8

Ex-Date Distribution Reinvest NAV
Dec 28, 2023 $0.41730 $13.62
Dec 29, 2022 $0.61330 $12.86
Dec 29, 2021 $0.30620 $15.01
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 History8

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. In emerging countries, these risks may be more significant. 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 sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. 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

Asset Mix (%)5 as of Apr 30, 2024

Foreign Common Stocks 98.98
Cash & Other Assets 1.02
Total 100.00

Portfolio Statistics as of Apr 30, 2024

Median Market Cap 4.05
Price/Earnings Ratio 13.64
Number of Holdings 1149
Price/Book Ratio 1.43
Countries Represented 47
 

GICS Sector Breakdown (%)5 as of Apr 30, 2024

Assets by Country (%)5 as of Apr 30, 2024

China 15.83
Mexico 4.76
Korea 4.60
Thailand 4.55
Brazil 4.64
South Africa 4.78
Saudi Arabia 4.65
India 8.11
Taiwan 7.59
Turkey 5.17
View All
 

Geographic Mix (%)5 as of Apr 30, 2024

Asia/Pacific 51.59
Latin America 15.37
Eastern Europe 12.09
Africa 7.75
Middle East 11.21
Europe except U.K. 1.99
 

Fund Holdings (%)5,9 as of Apr 30, 2024

Holding % of Net Assets
Taiwan Semiconductor Manufacturing Co Ltd 1.29%
Tencent Holdings Ltd 0.99%
Samsung Electronics Co Ltd 0.86%
Turkiye Petrol Rafinerileri AS 0.72%
America Movil SAB de CV 0.71%
Naspers Ltd 0.67%
Turkcell Iletisim Hizmetleri AS 0.66%
PetroChina Co Ltd 0.65%
Southern Copper Corp 0.63%
Delta Electronics Thailand PCL 0.62%
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. In emerging countries, these risks may be more significant. 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 sub-adviser uses proprietary investment techniques and analyses in making investment decisions for the Fund. A systematic investment process is dependent on the sub-adviser’s skill in developing and maintaining that process. 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

Thomas C. Seto

Thomas C. Seto

Managing Director
Joined Parametric Portfolio Associates 1998

Biography

Tom is a managing director and head of investment management at Parametric Portfolio Associates LLC. He leads Parametric's portfolio management and trading functions for the firm's equity strategies. He is also a vice president and portfolio manager for Calvert Research and Management. He joined Parametric in 1998.

Tom began his career in the investment management industry in 1991. Before joining Parametric, he served as the head of U.S. equity index investments at Barclays Global Investors.

Tom earned a B.S. in electrical engineering from the University of Washington and an MBA from the University of Chicago Booth School of Business.

Education
  • B.S. University of Washington
  • M.B.A Booth School of Business, University of Chicago

Experience
  • Managed Fund since 2007

 
Paul Bouchey, CFA

Paul Bouchey, CFA

Global Head of Research
Joined Parametric Portfolio Associates 2006

Biography

Paul Bouchey is chief investment officer of Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. Paul Bouchey leads Parametric's Investment, Research and Strategy activities. He is responsible for setting the overall research agenda and new product development. He joined Parametric in 2006.

Paul began his career in the investment management industry in 1994. Before joining Parametric, Paul was a senior researcher at Russell Investment Group, where he focused on simulation, optimization and quantitative decision models for institutional and private clients.

Paul earned a B.A. in mathematics and physics from Whitman College and an M.S. in computational finance and risk management from the University of Washington. He holds a patent on cross-sectional volatility indexing and has authored more than 10 academic and practitioner articles in journals such as The Journal of Portfolio Management, The Journal of Wealth Management and The Journal of Index Investing. He is a CFA charterholder.

Education
  • B.A. Whitman College
  • M.S. University of Washington

Experience
  • Managed Fund since 2019

 
Jennifer Sireklove, CFA

Jennifer Sireklove, CFA

Managing Director, Investment Strategy
Joined Parametric Portfolio Associates 2013

Biography

Jennifer Sireklove is managing director, investment strategy for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. She leads the investment strategy team, which is responsible for all aspects of Parametric's equity-based investment strategies. In addition, she has direct investment responsibility for Parametric's emerging-market and international strategies, and chairs Parametric's Stewardship Committee. She joined Parametric in 2013.

Jennifer began her career in the investment management industry in 2003. Previously at Parametric, she helped build the firm's active ownership and custom ESG portfolio construction practices. Before joining Parametric, she worked in equity research, primarily covering the energy, utility and industrial sectors at firms including D.A. Davidson and McAdams Wright Ragen.

Jennifer earned a B.A. in economics from Reed College and an MBA in finance and accounting from the University of Chicago. She is a CFA charterholder and a member of the CFA Society Seattle.

Education
  • B.A. Reed College
  • MBA University of Chicago

Experience
  • Managed Fund since 2019

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Mar 31, 2024

Commentary

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Attribution

Download Attribution - Last updated: May 31, 2024

Monthly Update

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Annual Report

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Full Prospectus

Download Full Prospectus - Last updated: Jun 1, 2024

Q1 Holdings

Download Q1 Holdings - Last updated: Apr 30, 2023

Q3 Holdings

Download Q3 Holdings - Last updated: Oct 31, 2023

Holdings - Form N-PORT

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Eaton Vance and Parametric Funds Launch Class R6 Shares

Download Eaton Vance and Parametric Funds Launch Class R6 Shares - Last updated: Jul 1, 2014

SAI

Download SAI - Last updated: Jun 1, 2024

Semi-Annual Report

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

Summary Prospectus

Download Summary Prospectus - Last updated: Jun 1, 2024