Overview

Historical Returns (%) as of Jun 30, 2020

 

Fund Facts as of Aug 31, 2020

Class I Acc USD Inception 03/14/2014
Investment Objective High current income
Total Net Assets $149.2M
Minimum Investment $5000000

Fund Codes

CUSIP G2918S702
ISIN IE00B2RKYZ93
SEDOL B2RKYZ9
Valor Number 4277952
Wertpapierkennnummer A0Q5YC
 

Top 10 Issuers (%)1 as of Aug 31, 2020

Ford Motor Company 3.19
Charter Communications 2.42
Bausch Health Companies 2.41
Cablevision Systems Corp 2.12
Centene Corp 1.84
HCA Inc. 1.74
Occidental Petroleum Corp 1.52
Altice 1.45
Sprint Corp 1.38
T-Mobile USA 1.13
Total 19.20
 

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. 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. 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, 2020

 

Calendar Year Returns (%)

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Fund at NAV -1.88 13.32 6.05 -2.43 13.94
ICE BofA U.S. High Yield Index 15.19 4.38 15.58 7.42 2.50 -4.64 17.49 7.48 -2.26 14.41
 

Fund Facts

Class I Acc USD Inception 03/14/2014
 

NAV History

Date NAV NAV Change
Sep 18, 2020 $13.16 -$0.01
Sep 17, 2020 $13.17 -$0.02
Sep 16, 2020 $13.19 $0.02
Sep 15, 2020 $13.17 $0.01
Sep 14, 2020 $13.16 $0.00
Sep 11, 2020 $13.16 -$0.01
Sep 10, 2020 $13.17 $0.00
Sep 09, 2020 $13.17 $0.02
Sep 08, 2020 $13.15 -$0.03
Sep 04, 2020 $13.18 -$0.04
 

Distribution History2

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. 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. 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 (%)1 as of Aug 31, 2020

Portfolio Statistics as of Aug 31, 2020

Number of Issuers 269
Number of Holdings 483
Average Coupon 5.81%
Average Maturity 6.48
Average Effective Maturity 4.43 yrs.
Average Duration 3.17
Average Price $100.26
 

Sector Breakdown (%)1 as of Aug 31, 2020

Healthcare 12.58
Energy 12.22
Cable & Satellite TV 7.09
Telecommunications 7.08
Technology 5.12
Automotive & Auto Parts 4.38
Gaming 4.15
Services 3.77
Utility 3.67
Broadcasting 3.27
View All

Credit Quality (%) as of Aug 31, 2020

BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BBB 2.42
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
BB 50.88
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
B 32.69
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
CCC or Lower 12.00
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
NR 1.74
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Other 0.28
Ratings are based on the average of ratings from S&P, Moody’s and Fitch. 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 (%)1 as of Aug 31, 2020

Less Than 1 Year 0.23
1 To 3 Years 6.23
3 To 5 Years 23.94
5 To 10 Years 62.97
10 To 20 Years 4.26
20 To 30 Years 1.62
More Than 30 Years 0.75
Total 100.00
 

Fund Holdings1,3 as of Jul 31, 2020

Holding Coupon Rate Maturity Date % of Net Assets
USD FX SPOT RECEIVABLE 34.63%
United States Dollar 3.94%
Asurion 6.67% 08/04/2025 1.09%
Sprint Corp 7.88% 09/15/2023 0.92%
PVH Corp 7.75% 11/15/2023 0.85%
MPH Acquisition Holdings LLC 7.13% 06/01/2024 0.73%
Neptune Energy Bondco PLC 6.63% 05/15/2025 0.69%
CCO Holdings LLC / CCO Holdings Capital Corp 5.50% 05/01/2026 0.68%
ARD Finance SA 5.00% 06/30/2027 0.65%
CSC Holdings LLC 5.75% 01/15/2030 0.64%
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. 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. 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

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. Jeff will become co-director of high-yield investments effective January 1, 2020. 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 Investments. 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

 
Stephen C. Concannon, CFA

Stephen C. Concannon, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Biography

Stephen Concannon is a vice president of Eaton Vance Management and 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 2000.

Steve began his career in the investment management industry in 1993. Before joining Eaton Vance, he was a research analyst for Wellington Management.

Steve earned a B.A. from Bates College. He is a member of the CFA Society of Boston and is a CFA charterholder.

Education
  • B.A. Bates College

Experience
  • Managed Fund since 2019

 

Literature

Literature

Fact Sheet (English)

Download - Last updated: Aug 31, 2020

Fact Sheet (Spanish)

Download - Last updated: Jul 31, 2020

Commentary (English)

Download - Last updated: Jun 30, 2020

Commentary (Spanish)

Download - Last updated: Jun 30, 2020

Attribution

Download - Last updated: Jun 30, 2020

Annual Report (Spanish)

Download - Last updated: Dec 31, 2019

Annual Report (English)

Download - Last updated: Dec 31, 2019

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

Download - Last updated: Jul 6, 2020

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

Download - Last updated: Jul 6, 2020

Full Prospectus

Download - Last updated: Jul 6, 2020

KIID

Download

Memorandum and Articles of Association

Download - Last updated: Oct 2, 2012

Memorandum and Articles of Association

Download - Last updated: Oct 2, 2012

Prospectus Supplement (English)

Download - Last updated: Sep 14, 2020

Semiannual Report (Spanish)

Download - Last updated: Jun 30, 2020

Semiannual Report (English)

Download - Last updated: Jun 30, 2020