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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.19

$1.24 B

4.43%

$0.36

0.66%

Vitals

YTD Return

1.5%

1 yr return

7.7%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

2.0%

Net Assets

$1.24 B

Holdings in Top 10

12.7%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.66%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 22.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.19

$1.24 B

4.43%

$0.36

0.66%

EIHYX - Profile

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 2.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.25%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Eaton Vance High Yield Municipal Income Fund
  • Fund Family Name
    EatonVance
  • Inception Date
    May 18, 2007
  • Shares Outstanding
    103697635
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cynthia Clemson

Fund Description

Under normal market circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations (including notes and tax-exempt commercial paper) issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (the “80% Policy”). The Fund may invest without limit in obligations the income from which is subject to the federal alternative minimum tax. The Fund will primarily invest in “high yield” municipal obligations under normal market conditions. For this purpose, “high yield” municipal obligations are municipal obligations rated at the time of investment either Baa or lower by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or lower by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”) or, if unrated, determined by the investment adviser to be of comparable quality. “High yield” municipal obligations rated below investment grade are also known as “junk bonds.” 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 lowest rating will be used for any Fund rating restrictions. The Fund may also invest a portion of its assets in municipal obligations that are not paying current income in anticipation of possible future income. The Fund may invest up to 20% of its net assets in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities. The Fund may purchase or sell derivative instruments (such as residual interest bonds, futures contracts and options thereon, interest rate swaps, total return swaps, credit derivatives and forward rate contracts) for hedging purposes, to seek total return or as a substitute for the purchase or sale of securities. Except as required by applicable regulation, there is no stated limit on the Fund’s use of derivatives for such purposes.

In pursuing its objective, the Fund normally acquires municipal obligations with maturities of ten years or more, but may acquire securities with shorter maturities.  The Fund’s portfolio often has a longer average maturity than is typical of many other funds that invest primarily in municipal obligations.  As a result, the interest rate risk described below may be more significant for the Fund.  The Fund may invest 25% or more of its total assets in certain types of municipal obligations (such as general obligations, municipal leases, principal only municipal investments, revenue bonds or industrial development bonds) and in one or more states, U.S. territories or economic sectors (such as housing, hospitals, healthcare facilities, transportation or utilities).

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also consider financially material environmental, social and governance (“ESG”) factors in evaluating an issuer. These considerations may be taken into account alongside other factors in the investment selection process. The portfolio managers also may trade securities to seek to minimize taxable capital gains to shareholders.  A portion of the Fund’s distributions generally will be subject to the federal alternative minimum tax.  The Fund may not be suitable for investors subject to the federal alternative minimum tax.

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EIHYX - Performance

Return Ranking - Trailing

Period EIHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -2.5% 4.4% 47.57%
1 Yr 7.7% -2.0% 10.2% 13.59%
3 Yr -0.1%* -8.7% 2.4% 16.42%
5 Yr 2.0%* -4.5% 526.2% 16.15%
10 Yr 4.0%* 0.3% 156.1% 16.54%

* Annualized

Return Ranking - Calendar

Period EIHYX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -1.5% 7.5% 33.01%
2022 -15.5% -26.9% -3.5% 25.12%
2021 0.8% -1.9% 5.6% 83.00%
2020 0.3% -10.1% 4.2% 58.59%
2019 5.0% 2.0% 9.1% 56.77%

Total Return Ranking - Trailing

Period EIHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -2.5% 4.4% 47.57%
1 Yr 7.7% -2.0% 10.2% 13.59%
3 Yr -0.1%* -8.7% 2.4% 16.42%
5 Yr 2.0%* -4.5% 526.2% 16.15%
10 Yr 4.0%* 0.3% 156.1% 16.54%

* Annualized

Total Return Ranking - Calendar

Period EIHYX Return Category Return Low Category Return High Rank in Category (%)
2023 8.5% 0.4% 10.9% 20.39%
2022 -11.9% -26.9% -2.9% 23.15%
2021 4.4% -1.9% 10.0% 72.00%
2020 4.5% -4.1% 8.2% 25.76%
2019 9.6% 3.5% 1028633.9% 27.60%

NAV & Total Return History


EIHYX - Holdings

Concentration Analysis

EIHYX Category Low Category High EIHYX % Rank
Net Assets 1.24 B 9.07 K 15.9 B 43.00%
Number of Holdings 378 1 3033 50.97%
Net Assets in Top 10 188 M -102 M 3.44 B 42.72%
Weighting of Top 10 12.69% 5.0% 100.7% 55.61%

Top 10 Holdings

  1. BUCKEYE OH TOBACCO SETTLEMENT FING AUTH 1.98%
  2. PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE 1.69%
  3. NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.30%
  4. PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV 1.27%
  5. MET PIER EXPOSITION AUTH IL REVENUE 1.20%
  6. MIAMI-DADE CNTY FL PROFESSIONAL SPORTS FRANCHISE FACS TAX RE 1.18%
  7. NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.07%
  8. BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE 1.02%
  9. IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE 1.02%
  10. VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR 0.97%

Asset Allocation

Weighting Return Low Return High EIHYX % Rank
Bonds
103.73% 0.00% 146.69% 8.13%
Stocks
0.00% 0.00% 99.38% 37.32%
Preferred Stocks
0.00% -47.61% 1.89% 13.11%
Convertible Bonds
0.00% 0.00% 0.00% 12.62%
Cash
0.00% -0.64% 100.00% 84.47%
Other
-0.09% -12.04% 8.29% 94.66%

Bond Sector Breakdown

Weighting Return Low Return High EIHYX % Rank
Municipal
97.75% 0.00% 100.00% 54.85%
Corporate
2.19% 0.00% 2.83% 2.43%
Cash & Equivalents
0.00% 0.00% 100.00% 52.91%
Securitized
0.00% 0.00% 22.44% 17.48%
Government
0.00% 0.00% 0.09% 16.99%
Derivative
-0.09% -12.35% 1.08% 94.66%

Bond Geographic Breakdown

Weighting Return Low Return High EIHYX % Rank
US
103.73% 0.00% 139.84% 8.25%
Non US
0.00% 0.00% 13.35% 23.79%

EIHYX - Expenses

Operational Fees

EIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.66% 0.21% 3.44% 78.54%
Management Fee 0.43% 0.00% 1.41% 18.66%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

EIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

EIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

EIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 2.00% 121.00% 55.73%

EIHYX - Distributions

Dividend Yield Analysis

EIHYX Category Low Category High EIHYX % Rank
Dividend Yield 4.43% 0.00% 6.58% 27.27%

Dividend Distribution Analysis

EIHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

EIHYX Category Low Category High EIHYX % Rank
Net Income Ratio 3.25% 1.11% 5.70% 44.50%

Capital Gain Distribution Analysis

EIHYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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EIHYX - Fund Manager Analysis

Managers

Cynthia Clemson


Start Date

Tenure

Tenure Rank

Sep 03, 2004

17.75

17.8%

Cindy Clemson is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. She joined Calvert Research and Management in 2016. Cindy began her career in the investment management industry in 1985. She has been affiliated with the Eaton Vance organization since 1985. Cindy earned a B.A. from Mount Holyoke College and an MBA from Boston University. She is a member of the Boston Municipal Analysts Forum, the CFA Society of Boston, the Municipal Bond Buyer Conference and the National Federation of Municipal Analysts.

William Delahunty


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

William J. Delahunty, Jr. are the portfolio managers of the Fund. Mr. Delahunty has been a portfolio manager of the Fund since October 1, 2021. Mr. Delahunty is a Vice President of Eaton Vance and BMR, manages other Eaton Vance portfolios and has been a member of the Eaton Vance municipals team for more than five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52