EFRRX: Eaton Vance Floating-Rate Advantage Fund

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EFRRX Eaton Vance Floating-Rate Advantage Fund


Profile

EFRRX - Profile

Vitals

  • YTD Return -7.0%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $5.4 B
  • Holdings in Top 10 9.0%

52 WEEK LOW AND HIGH

$9.96
$8.09
$10.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.56%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -7.0%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.48%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Eaton Vance Floating-Rate Advantage Fund
  • Fund Family Name
    Eaton Vance
  • Inception Date
    May 31, 2019
  • Shares Outstanding
    3210481
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Craig Russ

Fund Description

Under normal circumstances, the fund invests at least 80% of its total assets in income producing floating rate loans and other floating rate debt securities. It invests primarily in senior floating rate loans of domestic and foreign borrowers ("Senior Loans"). Senior Loans typically are of below investment grade quality and have below investment grade credit ratings, which ratings are associated with securities having high risk, speculative characteristics (sometimes referred to as "junk").


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Categories

Performance

EFRRX - Performance

Return Ranking - Trailing

Period EFRRX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.0% -100.0% 0.0% 72.90%
1 Yr -6.9% -100.0% 0.1% 70.99%
3 Yr N/A* -7.1% -0.2% 0.87%
5 Yr N/A* -4.8% -0.1% 0.49%
10 Yr N/A* -2.0% 0.2% 0.99%

* Annualized

Return Ranking - Calendar

Period EFRRX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -8.1% 5.7% N/A
2018 N/A -12.2% 0.1% N/A
2017 N/A -2.7% 2.5% N/A
2016 N/A -0.4% 12.9% N/A
2015 N/A -12.5% -0.8% N/A

Total Return Ranking - Trailing

Period EFRRX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.0% -100.0% 0.0% 72.90%
1 Yr -6.9% -100.0% 0.1% 70.99%
3 Yr N/A* -7.1% 1.6% 0.87%
5 Yr N/A* -4.8% 1.9% 0.49%
10 Yr N/A* -2.0% 2.2% 0.99%

* Annualized

Total Return Ranking - Calendar

Period EFRRX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -8.1% 5.7% N/A
2018 N/A -12.2% 2.5% N/A
2017 N/A -2.5% 7.2% N/A
2016 N/A -0.1% 12.9% N/A
2015 N/A -12.5% 1.6% N/A

NAV & Total Return History


Holdings

EFRRX - Holdings

Concentration Analysis

EFRRX Category Low Category High EFRRX % Rank
Net Assets 5.4 B 11.1 M 7.47 B 8.08%
Number of Holdings 694 29 1112 6.44%
Net Assets in Top 10 617 M -99.6 M 922 M 6.44%
Weighting of Top 10 8.96% 6.2% 86.6% 71.21%

Top 10 Holdings

  1. Kronos Incorporated 1.10%
  2. SolarWinds Holdings, Inc. 1.05%
  3. PPD 0.97%
  4. CenturyLink, Inc. 0.91%
  5. Informatica Corp 0.89%
  6. Reynolds Group Holdings Inc. 0.86%
  7. Go Daddy 0.84%
  8. Ziggo 0.80%
  9. JBS USA Lux S.A. 0.78%
  10. Solera LLC 0.76%

Asset Allocation

Weighting Return Low Return High EFRRX % Rank
Bonds
97.79% 81.85% 142.20% 16.67%
Cash
1.68% -42.26% 11.19% 77.65%
Stocks
0.33% 0.00% 2.41% 24.24%
Other
0.21% -4.96% 6.96% 39.39%
Preferred Stocks
0.00% 0.00% 1.08% 36.36%
Convertible Bonds
0.00% 0.00% 5.18% 45.83%

Stock Sector Breakdown

Weighting Return Low Return High EFRRX % Rank
Communication Services
77.63% 0.00% 100.00% 25.25%
Consumer Cyclical
11.92% 0.00% 100.00% 22.73%
Industrials
9.61% 0.00% 42.01% 7.07%
Energy
0.84% 0.00% 100.00% 38.38%
Utilities
0.00% 0.00% 100.00% 42.42%
Technology
0.00% 0.00% 100.00% 59.60%
Real Estate
0.00% 0.00% 42.89% 28.79%
Healthcare
0.00% 0.00% 100.00% 38.89%
Financial Services
0.00% 0.00% 100.00% 38.89%
Consumer Defense
0.00% 0.00% 0.57% 34.34%
Basic Materials
0.00% 0.00% 100.00% 37.37%

Stock Geographic Breakdown

Weighting Return Low Return High EFRRX % Rank
US
0.24% 0.00% 2.41% 34.47%
Non US
0.09% 0.00% 0.22% 10.23%

Bond Sector Breakdown

Weighting Return Low Return High EFRRX % Rank
Corporate
94.65% 0.00% 99.87% 45.83%
Securitized
3.69% 0.00% 99.45% 18.18%
Cash & Equivalents
1.66% 0.00% 69.22% 81.44%
Derivative
0.00% 0.00% 17.14% 32.95%
Municipal
0.00% 0.00% 98.47% 32.20%
Government
0.00% 0.00% 6.26% 35.23%

Bond Geographic Breakdown

Weighting Return Low Return High EFRRX % Rank
US
80.56% 9.56% 100.88% 44.70%
Non US
17.23% 0.00% 97.71% 45.45%

Expenses

EFRRX - Expenses

Operational Fees

EFRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.56% 0.01% 27.10% 29.92%
Management Fee 0.61% 0.00% 1.00% 53.23%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.03% 0.40% 46.46%

Sales Fees

EFRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

EFRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

EFRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 5.00% 209.00% 12.50%

Distributions

EFRRX - Distributions

Dividend Yield Analysis

EFRRX Category Low Category High EFRRX % Rank
Dividend Yield 0.00% 0.00% 4.47% 25.10%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

EFRRX Category Low Category High EFRRX % Rank
Net Income Ratio 5.48% 1.40% 10.03% 16.29%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

EFRRX - Fund Manager Analysis

Managers

Craig Russ


Start Date

Tenure

Tenure Rank

Nov 07, 2007

12.74

12.7%

Craig Russ is vice president of CRM. Craig earned a B.A., cum laude, from Middlebury College in 1985 and studied at the London School of Economics and Political Science. He is a member of the board of directors of the Loan Syndications and Trading Association (LSTA).

Andrew Sveen


Start Date

Tenure

Tenure Rank

Mar 01, 2019

1.42

1.4%

Andrew Sveen is a vice president of Eaton Vance Management, co-director of bank loans and portfolio manager on Eaton Vance’s floating-rate loan team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s floating-rate loan strategies. He joined Eaton Vance in 1999. Andrew began his career in the investment management industry in 1995. Previously at Eaton Vance, he was director of loan trading and capital markets. Before joining Eaton Vance, he worked as a corporate lending officer at State Street Bank. Andrew earned a B.A. from Dartmouth College and an MBA from the William E. Simon School at the University of Rochester. He is a CFA charterholder. Andrew serves as a member of the board of directors of the Loan Syndications and Trading Association (LSTA). His commentary has appeared in Bloomberg, Financial Times and Reuters.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 16.7 5.51 2.84