EICBX — Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund

EICBX Fund Overview

EICBX — Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund is a US mutual fund managed by Eaton Vance Special Investment Trust, categorised as Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Eaton Vance Special Investment Trust
• Category: Corporate Bond
• Assets under management: $7.44M
• Ticker: EICBX
• SEC CIK: 0000031266
• SEC series ID: S000055205
• Share class ID: C000173615

EICBX Investment Objective and Strategy

Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Eaton Vance Special Investment Trust.

Investment objective

The Funds investment objective is to seek current income.

Principal investment strategy

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in corporate bonds with final maturities of between one and ten years (the 80% Policy). For purposes of the 80% Policy, all corporate bonds maturing in a calendar year will be defined as having the same final maturity. A corporate bond is defined as any debt security issued by a corporation or non-governmental entity. At least 90% of the Funds net assets normally are invested in securities rated at least investment grade at the time of investment (which are those rated Baa or higher by Moodys Investors Service, Inc. (Moodys), or BBB or higher by either S&P Global Ratings (S&P) or Fitch Ratings (Fitch)), or if unrated, determined by the investment adviser to be of at least investment grade quality.

The Fund limits investments in securities rated below investment grade (i.e. rated below BBB by S&P or Fitch or Baa by Moodys) or, if unrated, determined by the investment adviser to be of below investment grade quality (including securities in default) (junk bonds) to less than 10% of the Funds net assets. The Fund may invest in securities in any rating category, including those in default. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may invest in securities of U.S. and foreign issuers, including emerging market issuers. The Fund may purchase securities on a when-issued basis and for future delivery by means of forward commitments. In pursuing its investment objective, the Fund will generally seek to weight investments in corporate bonds with a final maturity in each year within the one-to-ten year maturity range such that at least 5% and not more than 15% of the Funds net assets will be invested in corporate bonds in each year within the maturity range.

When a corporate bond has a final maturity of less than one year, the Fund intends to let it mature or sell the bond and reinvest the proceeds in bonds with longer maturities (the one-year maturity period). The Funds investment in bonds with a final maturity of 10 years may be less than 5% due to the timing of the actual maturity of bonds within the one-year maturity period. The Fund does not have an average portfolio duration target. Investment decisions for the Fund are made primarily on the basis of fundamental and quantitative research conducted by the investment advisers research staff. Security selection involves consideration of numerous factors (such as quality of business franchises, financial strength, management capability and integrity, growth potential, valuation and earnings and cash flow capabilities).

The portfolio managers may sell a security when the fundamentals of the company change or to pursue investment options more consistent with the Funds laddered maturity structure. The Fund intends to seek to manage investment risk by maintaining broad issuer and industry diversification among its holdings, and by utilizing fundamental analysis of risk/return characteristics in securities selection.

EICBX Costs and Fees

EICBX costs about $40 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.40%
• Gross expense ratio: 1.67%
• Portfolio turnover: 42%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

EICBX Cashflows

Over the 12 months to 2020-05, Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund had net outflows of $2.17M, from monthly SEC N-PORT filings.

EICBX Debt Constituents

No individual debt constituents are reported in Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund's latest SEC N-PORT filing.

EICBX Prospectus and SEC Filings

Official Eaton Vance 1-to-10 Year Laddered Corporate Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-03-25
• Prospectus (485BPOS) — filed 2020-01-21
• Prospectus supplement (497) — filed 2019-11-21
• Portfolio holdings (N-PORT) — filed 2020-07-23
• Portfolio holdings (N-PORT) — filed 2020-04-20
• Portfolio holdings (N-PORT) — filed 2020-01-27
• Annual census (N-CEN) — filed 2019-10-30
• Annual census (N-CEN) — filed 2018-11-14

Related Funds

Other Corporate Bond funds tracked on ABC INVEST:

• First Trust Preferred Securities and Income ETF (FPE)
• Nuveen Preferred Securities and Income Fund (NPSAX)
• Spectrum Preferred and Capital Securities Income Fund (PNARX)
• Invesco Variable Rate Preferred ETF (VRP)
• First Trust Institutional Preferred Securities and Income ETF (FPEI)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.