Overview

Historical Returns (%) as of Jun 30, 2018

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. Source: Eaton Vance and RIMES.
 

Fund Facts as of Aug 31, 2018

Class I2€ Inception 07/20/2011
Investment Objective High current income
Total Net Assets $191.1M
Minimum Investment1 $5000000

Fund Codes

CUSIP G2918S751
ISIN IE00B2RKYY86
SEDOL B2RKYY8
Valor Number 4277946
Wertpapierkennnummer A0Q5YB
 

Top 10 Issuers (%)2 as of Aug 31, 2018

Sprint Corp
Valeant Pharmaceuticals
HCA Holdings Inc
Cablevision System Corp
Dell Inc
Charter Comm Hlds
Asurion Corp.
T-Mobile USA Inc
First Data Corp
First Quantum Minerals
Total 14.27
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

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. 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. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to decline. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), 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. 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.


Performance

Historical Returns (%) as of Jun 30, 2018

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. Source: Eaton Vance and RIMES.
 

Calendar Year Returns (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV 13.51 6.00 3.16 -2.18 11.79 4.13
ICE BofAML U.S. High Yield Index (EUR) -28.02 57.58 14.36 4.33 15.02 7.09 2.26 -5.13 15.69 5.35
 

Fund Facts

Class I2€ Inception 07/20/2011
 

NAV History

Date NAV NAV Change
Sep 17, 2018 $14.10 $0.01
Sep 14, 2018 $14.09 $0.00
Sep 13, 2018 $14.09 $0.01
Sep 12, 2018 $14.08 $0.01
Sep 11, 2018 $14.07 $0.01
Sep 10, 2018 $14.06 $0.01
Sep 07, 2018 $14.05 -$0.01
Sep 06, 2018 $14.06 $0.00
Sep 05, 2018 $14.06 -$0.02
Sep 04, 2018 $14.08
 

Distribution History3

Ex-Date Distribution Reinvest NAV
No records in this table indicates that there has not been a distribution 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.

About Risk: 

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. 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. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to decline. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), 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. 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.


Portfolio

Asset Mix (%)2 as of Aug 31, 2018

Portfolio Statistics as of Aug 31, 2018

Number of Issuers 250
Number of Holdings 420
Average Coupon 6.60%
Average Maturity 5.77 yrs.
Average Effective Maturity 5.16 yrs.
Average Duration 3.42 yrs.
Average Price $101.08
 

Sector Breakdown (%)2 as of Aug 31, 2018

Energy 16.05
Healthcare 12.08
Technology 8.83
Telecommunications 8.64
Services 6.35
Cable/Satellite TV 5.23
Metals/Mining 4.42
Gaming 4.10
Utilities 3.53
Containers 2.87
View All

Credit Quality (%)4 as of Aug 31, 2018

BBB 4.40
BB 42.12
B 43.54
CCC or Lower 7.23
Not Rated 2.72
Credit ratings are categorized using S&P. If S&P does not publish a rating, then the Moody's 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 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.
 

Maturity Distribution (%)2 as of Aug 31, 2018

Less Than 1 Year 0.18
1 To 3 Years 5.72
3 To 5 Years 25.74
5 To 10 Years 66.43
10 To 20 Years 1.07
20 To 30 Years 0.25
More Than 30 Years 0.61
Total 100.00

Assets by Country (%)5,6 as of Aug 31, 2018

United States 84.80
Canada 7.63
Luxembourg 1.68
United Kingdom 1.39
Other 4.50
 

Fund Holdings2,7 as of Jul 31, 2018

Holding Coupon Rate Maturity Date % of Net Assets
United States Dollar 1.63%
Asurion 8.58% 08/04/2025 1.05%
Sprint Corp 7.88% 09/15/2023 1.00%
GrafTech Finance, Inc. 5.58% 02/12/2025 0.81%
CrownRock LP / CrownRock Finance Inc 5.63% 10/15/2025 0.81%
IHS Markit Ltd 5.00% 11/01/2022 0.76%
First Data Corp 7.00% 12/01/2023 0.73%
Altice France SA/France 6.00% 05/15/2022 0.73%
Prime Security Services Borrower LLC / Prime Finance Inc 9.25% 05/15/2023 0.72%
MPH Acquisition Holdings LLC 7.13% 06/01/2024 0.69%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

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. 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. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to decline. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), 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. 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.


Management

Michael W. Weilheimer, CFA

Michael W. Weilheimer, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1990

Biography

Michael Weilheimer is a vice president of Eaton Vance Management, director of high yield and a portfolio manager on Eaton Vance’s high-yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield strategies. He joined Eaton Vance in 1990.

Mike began his career in the investment management industry in 1987. Before joining Eaton Vance, he was an analyst specializing in distressed debt securities at Cowen & Company and later at Amroc Investments, L.P.

Mike earned a B.S. from the University at Albany - SUNY and an MBA from the University of Chicago. He is a member of the CFA Institute, the CFA Society of Boston, the Dean’s Advisory Board, School of Business, University at Albany - SUNY and a member of the board of trustees for the University at Albany Foundation. He is a CFA charterholder.

Mike’s commentary has appeared in Barron’s, The Wall Street Journal, Reuters and USA Today.

Education
  • B.S. State University of New York at Albany
  • M.B.A. Booth School of Business, University of Chicago

Experience
  • Managed Fund since inception

 
Kelley G. Baccei

Kelley G. Baccei

Vice President, Eaton Vance Management
Joined Eaton Vance 2005

Biography

Kelley Baccei is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance’s high-yield team. She is responsible for buy and sell decisions and portfolio construction. She joined Eaton Vance in 2005.

Kelley began her career in the investment management industry in 2000. Before joining Eaton Vance, she was the director of high-yield distressed research at Fieldstone Capital Group. Previously, she was associate director of fixed-income research at Scotia Capital Markets, Inc.

Kelley earned a B.A. from Boston College and a certificate in credit analysis from New York University.

Education
  • B.A. Boston College

Experience
  • Managed Fund since 2014

 
Jeffrey D. Mueller

Jeffrey D. Mueller

Vice President, Eaton Vance Advisers International Ltd.
Joined Eaton Vance 2015

Biography

Jeffrey Mueller is a vice president of Eaton Vance Advisers International Ltd. and a portfolio manager on Eaton Vance’s high-yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield and multi-asset credit strategies. He leads investment management and credit research for all non-U.S. high-yield opportunities. He joined Eaton Vance in 2015.

Jeff began his career in the investment management industry in 2004. Before joining Eaton Vance, he was a high-yield portfolio manager with Threadneedle Asset Management. He was previously affiliated with Centaurus Capital Ltd. and Amaranth Advisors LLC.

Jeff earned a B.B.A. from the University of Wisconsin at Madison.

Education
  • B.B.A. University of Wisconsin at Madison

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet (English)

Download - Last updated: Aug 31, 2018

Fact Sheet (Latin America)

Download - Last updated: Aug 31, 2018

Commentary (English)

Download - Last updated: Jun 30, 2018

Commentary (Latin America)

Download - Last updated: Jun 30, 2018

Attribution

Download - Last updated: Jun 30, 2018

Annual Report (Spanish)

Download - Last updated: Dec 31, 2017

Annual Report (English)

Download - Last updated: Dec 31, 2017

Eaton Vance International (Ireland) Funds Full Prospectus (English)

Download - Last updated: Dec 23, 2016

Prospectus Supplement (English)

Download - Last updated: Jan 3, 2018

Semiannual Report (English)

Download - Last updated: Jun 23, 2017