Overview

Growth of $10,000

10-year period ended 06/30/2015

  • Class A at NAV

Average Annual Returns (%)as of Jun 30, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV -0.53 -3.53 -1.05 -2.54 12.13 12.03 6.49
Fund w/Max Sales Charge -6.25 -9.07 -6.72 -8.13 9.94 10.70 5.86
Russell 2000 Value Index2 0.13 -1.20 0.76 0.78 15.50 14.80 6.87
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 one year is cumulative. Prior to 7/6/15, Fund was called Eaton Vance Small-Cap Value Fund and employed a different investment strategy. Please see prospectus for more details. Max Sales Charge: 5.75%.

Fund Factsas of Jun 30, 2015

Class A Inception 06/28/2002
Investment Objective Long-term total return
Total Net Assets $39.5M
Minimum Investment $1000
Expense Ratio (Gross)3 1.75%
Expense Ratio (Net)3,4 1.45%
CUSIP 277905717

Top 10 Holdings (%)5,6as of Jun 30, 2015

Eagle Bancorp Inc
ConnectOne Bancorp Inc
Prestige Brands Holdings Inc
Teleflex Inc
Inventure Foods Inc
Orchids Paper Products Co
LaSalle Hotel Properties
AptarGroup Inc
First Business Financial Services Inc
FTD Cos Inc
Total 21.58


Portfolio Management

Aidan M. Farrell Managed Fund since 2015
Patrick J. O'Brien Managed Fund since 2013

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

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry, including REITs. 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

Average Annual Returns (%)as of Jun 30, 2015

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV -0.53 -3.53 -1.05 -2.54 12.13 12.03 6.49
Fund w/Max Sales Charge -6.25 -9.07 -6.72 -8.13 9.94 10.70 5.86
Russell 2000 Value Index2 0.13 -1.20 0.76 0.78 15.50 14.80 6.87
Morningstar™ Small Blend Category7 0.36 -0.12 3.50 3.42 16.72 15.94 7.91
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 one year is cumulative. Prior to 7/6/15, Fund was called Eaton Vance Small-Cap Value Fund and employed a different investment strategy. Please see prospectus for more details. Max Sales Charge: 5.75%.

Calendar Year Returns (%)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Fund at NAV 4.28 13.92 2.31 -26.59 24.32 17.78 -1.68 9.59 31.47 3.37
Russell 2000 Value Index2 4.71 23.48 -9.78 -28.92 20.58 24.50 -5.50 18.05 34.52 4.22

Fund Facts

Expense Ratio (Gross)3 1.75%
Expense Ratio (Net)3,4 1.45%
Class A Inception 06/28/2002
Distribution Frequency Annually


Risk Measures (3 Year)8as of Jun 30, 2015

Alpha (%) -0.06
Beta 0.81
R-Squared (%) 91.07
Standard Deviation (%) 10.50
Sharpe Ratio 1.15


Morningstar™ Ratingsas of Jun 30, 2015

Time Period Rating Rating (Load Waived) Funds in
Small Blend
Category
Overall * ** 636
3 Years * * 636
5 Years * * 575
10 Years ** *** 377
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2015 Morningstar, Inc. 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 is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Jul 24, 2015 $16.43 $-0.28
Jul 23, 2015 $16.71 $-0.22
Jul 22, 2015 $16.93 $-0.02
Jul 21, 2015 $16.95 $-0.07
Jul 20, 2015 $17.02 $-0.07
Jul 17, 2015 $17.09 $-0.09
Jul 16, 2015 $17.18 $0.08
Jul 15, 2015 $17.10 $-0.09
Jul 14, 2015 $17.19 $0.11
Jul 13, 2015 $17.08 $0.14

Distribution History9

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

Capital Gain History9

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 16, 2014 $0.81130 $16.43
Dec 17, 2013 $0.98260 $16.83
Aug 01, 2013 $0.28990 $17.00
Dec 20, 2012 $1.25120 $14.31
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

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 as of month-end for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. For the Eaton Vance Fund's performance as of the most recent month-end, please refer to eatonvance.com. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns shown at NAV unless noted otherwise. Returns for other classes of shares offered by the Fund are different. It is not possible to invest in an index.

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

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry, including REITs. 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 (%)6,10as of Jun 30, 2015

U.S. Common Stocks 95.74
Foreign Common Stocks 3.39
Cash 0.87
Total 100.00

Portfolio Statisticsas of Jun 30, 2015

Average Market Cap $2.2B
Price/Earnings Ratio 18.96
Number of Holdings 78
Price/Book Ratio 1.97


GICS Sector Breakdown (%)6as of Jun 30, 2015

Sector Fund Russell 2000 Value Index2
Consumer Discretionary 14.54 10.78
Consumer Staples 5.64 3.00
Energy 4.03 6.29
Financials 32.63 41.75
Health Care 10.25 4.26
Industrials 13.05 12.40
Information Technology 11.53 10.32
Materials 4.21 3.87
Telecom Services 0.74 0.85
Utilities 2.53 6.48
Cash 0.87 0.00


Fund Holdings (%)6,11as of Mar 31, 2015

Holding % of Net Assets
ConnectOne Bancorp Inc 4.18%
Federated National Holding Co 3.37%
Core-Mark Holding Co Inc 3.07%
Covenant Transportation Group Inc 3.03%
Prestige Brands Holdings Inc 2.99%
Eagle Bancorp Inc 2.96%
Teleflex Inc 2.91%
AO Smith Corp 2.88%
Analogic Corp 2.62%
Silicon Motion Technology Corp 2.55%
View All

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

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry, including REITs. 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.


Insights & analysis

Quarterly Commentary

No commentary information is currently available.

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

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry, including REITs. 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.


Attribution

No attribution information is currently available.

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

About Risk 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry, including REITs. 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

Biography

Aidan M. Farrell

Vice President, Eaton Vance Management International
Joined Eaton Vance 2015

Aidan Farrell is a vice president of Eaton Vance Management International and global small-cap portfolio manager. He is responsible for managing global and international small-cap equity portfolios, leading a team of analysts and working alongside the director of global equity to expand the global equity business. He joined Eaton Vance in 2015.

Aidan began his career in the financial services industry in 1996. Before joining Eaton Vance, he was managing director and a lead portfolio manager for Goldman Sachs Asset Management (GSAM). Prior to June 2008, he served as the director of European equities for Investment Insight (formerly the asset management arm of Halifax Bank of Scotland).

Aidan earned a B.A. in economics from the University College Dublin and a postgraduate diploma in business studies from the University College Dublin Michael Smurfit Graduate Business School.

Education
  • B.A. University College Dublin
  • Pg.Dip. University College Dublin
Experience
  • Managed Fund since 2015
 
Biography

Patrick J. O'Brien

Vice President, Eaton Vance Management
Equity Portfolio Manager, Fox Asset Management LLC
Joined Fox Asset Management LLC 2012

Patrick O’Brien is a vice president and equity portfolio manager of Fox Asset Management, a wholly owned subsidiary of Eaton Vance Corp. He is also a member of Fox’s investment committee.

Prior to joining Fox, Patrick was a portfolio manager and analyst with Brown Advisory/ABIM in Baltimore, Maryland. Previously, he was associated with Delaware Management Company, Prudential Investments, Schneider Capital Management and Wellington Management Company.

Patrick earned a B.S. in zoology from The Ohio State University and earned an MBA from Columbia University Graduate School of Business.

Education
  • B.S. Ohio State University
  • M.B.A. Columbia University Graduate School of Business
Experience
  • Managed Fund since 2013
Other funds managed
 

Fund Literature

Fund Literature

Annual Report

Fact Sheet

Full Prospectus

Holdings-1st or 3rd fiscal quarters-www.sec.gov

SAI

Semi-Annual Report

Summary Prospectus

XBRL


 

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    This website does not constitute investment, legal or tax advice with respect to our products and services and it is important that you do not rely on its content when making an investment decision. You should obtain relevant and specific professional advice before making any decision to enter into an investment transaction. EVMI does not represent that the information on this website, including any third party information, is accurate or complete and it should not be relied upon as such. Past performance is not a guide to future returns.

    The value of investment funds and the income therefrom may go down as well as up and you may not get back the original amount invested. Your capital could be at risk. You are not certain to make money from your investments and you may lose money. Exchange rates may cause the value of overseas investments and the income therefrom to rise and fall.

    Information in this section may contain statements that are not historical facts, referred to as forward-looking statements. A Fund’s future results may differ significantly from those stated in forward-looking statements, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of advisory, administrative and service contracts, and other risks.

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