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<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Investment Objective</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 7.5pt">Investment Objective</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Investment Objective</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The Fund’s investment objective is to seek long-term
capital growth.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The Fund’s investment objective is to seek long-term
capital growth.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The Fund’s investment objective is to seek long-term
capital growth.</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Fees and Expenses of the Fund</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Fees and Expenses of the Fund</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Fees and Expenses of the Fund</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">This table describes the fees and expenses that you may pay
if you buy and hold shares of the Fund.  You may qualify for a reduced sales charge if you invest, or agree to invest over
a 13-month period, at least $50,000 in Eaton Vance Funds.  More information about these and other discounts is available from
your financial intermediary and in Sales Charges beginning on page 28 of this Prospectus and page 22 of the Fund’s Statement
of Additional Information.  </p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 2.8pt 0">This table describes the fees and expenses that you may
pay if you buy and hold shares of the Fund.  You may qualify for a reduced sales charge if you invest, or agree to invest
over a 13-month period, at least $50,000 in Eaton Vance Funds.  More information about these and other discounts is available
from your financial intermediary and in Sales Charges beginning on page 28 of this Prospectus and page 22 of the Fund’s Statement
of Additional Information.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">This table describes the fees and expenses that you may pay
if you buy and hold shares of the Fund.  You may qualify for a reduced sales charge if you invest, or agree to invest over
a 13-month period, at least $50,000 in Eaton Vance Funds.  More information about these and other discounts is available from
your financial intermediary and in Sales Charges beginning on page 28 of this Prospectus and page 22 of the Fund’s Statement
of Additional Information.  </p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 5.6pt; text-indent: -1.85pt"><font style="font-size: 10pt">Example</font><font style="font-size: 9pt">
.</font><font style="font-size: 10pt">  </font></p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 2.8pt 0">Example.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Example.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 5.6pt; text-indent: -1.85pt">This Example is intended to help you
compare the cost of investing in the Fund with the cost of investing in other mutual funds.  The Example assumes that you
invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods.  The
Example also assumes that your investment has a 5% return each year and that the operating expenses remain the same.  Although
your actual costs may be higher or lower, based on these assumptions your costs would be:</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 2.8pt 0">This Example is intended to help you compare the cost
of investing in the Fund with the cost of investing in other mutual funds.  The Example assumes that you invest $10,000 in
the Fund for the time periods indicated and then redeem all of your shares at the end of those periods.  The Example also
assumes that your investment has a 5% return each year and that the operating expenses remain the same.  Although your actual
costs may be higher or lower, based on these assumptions your costs would be:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">This Example is intended to help you compare the cost of investing
in the Fund with the cost of investing in other mutual funds.  The Example assumes that you invest $10,000 in the Fund for
the time periods indicated and then redeem all of your shares at the end of those periods.  The Example also assumes that
your investment has a 5% return each year and that the operating expenses remain the same.  Although your actual costs may
be higher or lower, based on these assumptions your costs would be:</p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Portfolio Turnover</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Portfolio Turnover</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Portfolio Turnover</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The Fund pays transaction costs, such as commissions, when
it buys and sells securities (or “turns over” the portfolio).  A higher portfolio turnover rate may indicate higher
transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not
reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal
year, the Fund's portfolio turnover rate was 17% (for the period from July 23, 2012 though September 30, 2012) and the Portfolio's
portfolio turnover rate was 60% (for the period from October 1, 2011 through July 22, 2012, when the Fund was investing in Focused
Growth Portfolio) of the average value of its portfolio.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 2.8pt 0">The Fund pays transaction costs, such as commissions, when
it buys and sells securities (or “turns over” the portfolio).  A higher portfolio turnover rate may indicate higher
transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not
reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the period from January
3, 2012 (commencement of operations) to September 30, 2012, the Fund's portfolio turnover rate was 12% (not annualized) of the
average value of its portfolio.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The Fund pays transaction costs, such as commissions, when
it buys and sells securities (or “turns over” the portfolio).  A higher portfolio turnover rate may indicate higher
transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not
reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal
year, the Fund's portfolio turnover rate was 6 % of the average value of its portfolio.</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Principal Investment Strategies</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Principal Investment Strategies</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 5.6pt 0">Principal Investment Strategies</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Under normal market conditions, the Fund invests in common
stocks of approximately 20 to 35 companies , primarily with large market capitalizations.  The Fund will normally invest in
common stocks of companies having market capitalizations that rank among the top 1,000 U.S. companies.  The Fund may invest
in dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including
depositary receipts which evidence ownership in underlying foreign stocks).  The Fund may also lend its securities.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The portfolio managers seek to invest in quality growth companies
with a demonstrated history of consistent growth and stability in earnings that management believes are attractively valued relative
to earnings and cash flow per share.  Financial quality is determined by analysis of a company’s financial statements
and is measured by a company’s demonstrated ability to consistently grow earnings.  The portfolio managers typically
favor companies that they believe have sustainable above-average earnings growth potential and whose underlying financial prospects
are exceeding consensus expectations .  Sustainable earnings growth potential is determined by rigorous fundamental analysis
of a company’s financial trends ; products and services ; industry conditions ; and other factors.  The portfolio managers
may utilize “financial quality rankings” provided by nationally recognized rating services as part of their investment
analysis but do not rely solely upon such rankings in making investment decisions.  The portfolio managers seek to manage
individual security risk through analysis of each security’s risk/reward characteristics.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Portfolio securities are selected by the portfolio managers
in consultation with a team of investment analysts in the investment sub-adviser’s equity research group.  Each analyst
maintains research responsibility for investments in his or her area of coverage.  Stocks are added to the portfolio based
on factors which may include: the relative attractiveness of the risk/reward profile; earnings consistency; expected rate of sustainable
earnings growth; and prospects for near-term accelerating earnings growth.  The portfolio managers may sell a security when
its fundamentals deteriorate , when its valuation is no longer attractive relative to its long-term growth rate or when other securities
are identified to displace a current holding .</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 2.8pt 0">Under normal circumstances, the Fund invests at least
80% of its net assets in equity securities (the “80% Policy”).  The Fund normally invests in the common stocks
of approximately 25 to 40 companies.  The Fund may invest in companies across a broad capitalization range, but primarily
invests in mid-to large-cap companies with capitalizations comparable to those companies included in the Russell 1000 Index.  Although
it invests primarily in U.S. traded securities (including depositary receipts evidencing ownership in underlying foreign stocks),
the Fund may invest up to 25% of its total assets in foreign securities, including those trading in developed and emerging international
markets.  The Fund may invest in real estate investment trusts and may lend its securities.</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 2.8pt 0">The portfolio managers seek to invest in quality companies
with a demonstrated history of consistent growth and stability in earnings that they believe are attractively valued relative to
earnings and cash flow per share.  Financial quality is measured by a company’s demonstrated ability to consistently
grow earnings.  Other characteristics of quality companies include a history of sustained growth in earnings and operating
cash flow; high returns on capital; attractive profit margins; and leading industry positions.  The portfolio managers seek
to purchase stocks of companies capable of sustaining consistent earnings growth while maintaining a strong financial condition.
 Investments are determined based primarily on fundamental analysis of a company’s financial trends, products and services
and other factors.  The portfolio managers may utilize “financial quality rankings” provided by nationally recognized
rating services as part of its investment analysis but does not rely solely upon such rankings in making investment decisions.
 The portfolio managers may sell a security when its fundamentals deteriorate or when it is no longer attractively valued
in relation to the market as a whole or other potential investments.  The portfolio managers seek to manage portfolio risk
by constructing a portfolio of undervalued companies and favoring companies with a history of consistent sustained growth and stability
in earnings and operating cash flow.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 5.6pt">The Fund invests primarily in common stocks of companies
with small to mid-sized market capitalizations (“small- to mid-cap stocks”).  The Fund will normally invest in
common stocks of companies having market capitalizations within the range of companies comprising the Russell 2500 Index.  Under
normal circumstances, the Fund invests at least 80% of its net assets in small- to mid-cap stocks (the “80% Policy”).
 The Fund may also invest in larger companies and in dollar-denominated securities of foreign companies that trade on U.S.
exchanges or in the over-the-counter market (including depositary receipts which evidence ownership in underlying foreign stocks).
 The Fund may also lend its securities</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The portfolio managers seek to invest in quality companies
with a demonstrated history of consistent growth and stability in earnings that they believe are attractively valued relative to
earnings and cash flow per share.   Financial quality is measured by a company’s demonstrated ability to consistently
grow earnings.  Other characteristics of quality companies include a history of sustained growth in earnings and operating
cash flow; high returns on capital; attractive profit margins; and leading industry positions.  The portfolio managers seek
to purchase stocks of companies capable of sustaining consistent earnings growth while maintaining a strong financial condition.
 Investments are determined based primarily on fundamental analysis of a company’s financial trends, products and services
and other factors.  The portfolio managers may utilize “financial quality rankings” provided by nationally recognized
rating services as part of their investment analysis but do not rely solely upon such rankings in making investment decisions.
 The portfolio managers may sell a security when its fundamentals deteriorate or when it is no longer attractively valued
in relation to the market as a whole or other potential investments.  The portfolio managers seek to manage portfolio risk
by constructing a diversified portfolio of undervalued companies and favoring companies with a history of consistent sustained
growth and stability in earnings and operating cash flow .</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The Fund currently invests its assets in SMID-Cap Portfolio
(the “Portfolio”), a separate registered investment company with the same objective and policies as the Fund.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 2.8pt 0">Principal Risks</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Principal Risks</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Principal Risks</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Equity Investing Risk. The Fund’s shares are sensitive
to stock market volatility and the stocks in which the Fund invests may be more volatile than the stock market as a whole.  The
prices of stocks may decline in response to conditions affecting the general economy; overall market changes; local, regional or
global political, social or economic instability; and currency, interest rate and commodity price fluctuations, as well as issuer
or sector specific events.  Market conditions may affect certain types of stocks ( such as large-cap or growth stocks ) to
a greater extent than other types of stocks.  If the stock market declines, the value of Fund shares will also likely decline
and, although stock values can rebound, there is no assurance that values will return to previous levels. Depositary receipts are
subject to many of the risks associated with investing in foreign securities including political and economic risks.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Issuer Diversification Risk. The Fund is “non-diversified”
which means it may invest a greater percentage of its assets in the securities of a single issuer than funds that are “diversified.”
 Non-diversified funds face the risk of focusing investments in a small number of issuers, making them more susceptible to
risks affecting such issuers than a more diversified fund might be.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Securities Lending Risk.  Securities lending involves
possible delay in recovery of the securities or possible loss of rights in the collateral should the borrower fail financially.
As a result, the value of Fund shares may fall and there may be a delay in recovering the loaned securities. The value of Fund
shares could also fall if a loan is called and the Fund is required to liquidate reinvested collateral at a loss or if the investment
adviser is unable to reinvest cash collateral at rates that exceed the costs involved.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Risks Associated with Active Management.  The Fund is
an actively managed portfolio and its success depends upon the investment skills and analytical abilities of the sub- adviser to
develop and effectively implement strategies to achieve the Fund’s investment objective.  Subjective decisions made
by the sub- adviser may cause the Fund to incur losses or to miss profit opportunities on which it may otherwise have capitalized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">General Fund Investing Risks.  The Fund is not a complete
investment program and you may lose money by investing in the Fund.  All investments carry a certain amount of risk and there
is no guarantee that the Fund will be able to achieve its investment objective.  Annual Fund Operating Expenses expressed
as a percentage of the Fund’s average daily net assets may change as Fund assets increase and decrease, and Annual Fund Operating
Expenses may differ in the future.  Purchase and redemption activities by Fund shareholders may impact the management of the
Fund and its ability to achieve its investment objective.   In addition, the redemption by one or more large shareholders
or groups of shareholders of their holdings in the Fund could have an adverse impact on the remaining shareholders in the Fund.
  Investors in the Fund should have a long-term investment perspective and be able to tolerate potentially sharp declines
in value. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency, entity or person.  Mutual funds, investment advisers, other market participants
and many securities markets are subject to rules and regulations and the jurisdiction of one or more regulators.  Changes
to applicable rules and regulations could have an adverse affect on securities markets and market participants, as well as on the
Fund’s ability to execute its investment strategy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Equity Investing Risk. The Fund’s shares are sensitive
to stock market volatility and the stocks in which the Fund invests may be more volatile than the stock market as a whole.  The
prices of stocks may decline in response to conditions affecting the general economy; overall market changes; local, regional or
global political, social or economic instability; and currency, interest rate and commodity price fluctuations, as well as issuer
or sector specific events.  Market conditions may affect certain types of stocks to a greater extent than other types of stocks.
 If the stock market declines, the value of Fund shares will also likely decline and, although stock values can rebound, there
is no assurance that values will return to previous levels.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Issuer Diversification Risk. The Fund is “non-diversified”
which means it may invest a greater percentage of its assets in the securities of a single issuer than funds that are <font style="font-family: Arial Unicode MS">“</font>diversified.<font style="font-family: Arial Unicode MS">”</font>
 Non-diversified funds face the risk of focusing investments in a small number of issuers, making them more susceptible to
risks affecting such issuers than a more diversified fund might be.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Smaller Company Equity Risk. <font style="font-family: Arial, Helvetica, Sans-Serif"> </font>The
stocks of smaller, less seasoned companies are generally subject to greater price fluctuations, limited liquidity, higher transaction
costs and higher investment risk.  Smaller companies may have limited product lines, markets or financial resources, may be
dependent on a limited management group, and may lack substantial capital reserves or an established performance record.  There
may be generally less publicly available information about such companies than for larger, more established companies.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Foreign and Emerging Market Investment Risk.<font style="font-family: Arial, Helvetica, Sans-Serif"> </font>
Because the Fund may invest a portion of its assets in foreign instruments, the value of Fund shares can be adversely affected
by changes in currency exchange rates and political, economic and market developments abroad.  In emerging or less developed
countries, these risks can be more significant.  Investment markets in emerging market countries are typically substantially
smaller, less liquid and more volatile than the major markets in developed countries.  As a result, Fund share values may
be more volatile than if the Fund invested only in developed markets.  Emerging market countries may have relatively unstable
governments and economies.  Emerging market investments often are subject to speculative trading, which typically contributes
to volatility.  Trading in foreign and emerging markets typically involves higher expense than trading in the United States.
The Fund may have difficulties enforcing its legal or contractual rights in a foreign country. The value of investments denominated
in foreign currencies can be adversely affected by changes in foreign currency exchange rates. Depositary receipts are subject
to many of the risks associated with investing in foreign securities including political, economic and market risks.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Real Estate Investment Trust Risk.  Real estate investment
trusts (“REITs”) are subject to special risks associated with real estate.  Securities of companies in the real
estate industry are sensitive to factors such as changes in real estate values, property taxes, interest rates, cash flow of underlying
real estate assets, occupancy rates, government regulations affecting zoning, land use, and rents, and the management skill and
creditworthiness of the issuer.  Companies in the real estate industry may also be subject to liabilities under environmental
and hazardous waste laws, among others.  Changes in underlying real estate values may have an exaggerated effect to the extent
that REITs concentrate investments in particular geographic regions or property types.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Securities Lending Risk.  Securities lending involves
possible delay in recovery of the securities or possible loss of rights in the collateral should the borrower fail financially.
As a result, the value of Fund shares may fall and there may be a delay in recovering the loaned securities. The value of Fund
shares could also fall if a loan is called and the Fund is required to liquidate reinvested collateral at a loss or if the investment
adviser is unable to reinvest cash collateral at rates that exceed the costs involved.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Risks Associated with Active Management.  The Fund is
an actively managed portfolio and its success depends upon the investment skills and analytical abilities of the sub-adviser to
develop and effectively implement strategies to achieve the Fund’s investment objective.  Subjective decisions made
by the sub-adviser may cause the Fund to incur losses or to miss profit opportunities on which it may otherwise have capitalized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">General Fund Investing Risks.  The Fund is not a complete
investment program and you may lose money by investing in the Fund.  All investments carry a certain amount of risk and there
is no guarantee that the Fund will be able to achieve its investment objective.  Annual Fund Operating Expenses expressed
as a percentage of the Fund’s average daily net assets may change as Fund assets increase and decrease, and Annual Fund Operating
Expenses may differ in the future.  Purchase and redemption activities by Fund shareholders may impact the management of the
Fund and its ability to achieve its investment objective.  In addition, the redemption by one or more large shareholders or
groups of shareholders of their holdings in the Fund could have an adverse impact on the remaining shareholders in the Fund.  Investors
in the Fund should have a long-term investment perspective and be able to tolerate potentially sharp declines in value. An investment
in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency, entity or person.  Mutual funds, investment advisers, other market participants and many securities markets
are subject to rules and regulations and the jurisdiction of one or more regulators.  Changes to applicable rules and regulations
could have an adverse affect on securities markets and market participants, as well as on the Fund’s ability to execute its
investment strategy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Equity Investing Risk. The Fund’s shares are sensitive
to stock market volatility and the stocks in which the Fund invests may be more volatile than the stock market as a whole.  The
prices of stocks may decline in response to conditions affecting the general economy; overall market changes; local, regional or
global political, social or economic instability; and currency, interest rate and commodity price fluctuations, as well as issuer
or sector specific events.  Market conditions may affect certain types of stocks (such as small-cap or mid-cap stocks) to
a greater extent than other types of stocks.  If the stock market declines, the value of Fund shares will also likely decline
and, although stock values can rebound, there is no assurance that values will return to previous levels. Depositary receipts are
subject to many of the risks associated with investing in foreign securities including political and economic risks.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Smaller Company Equity Risk.<font style="font-family: Arial, Helvetica, Sans-Serif"> </font>The
stocks of smaller, less seasoned companies are generally subject to greater price fluctuations, limited liquidity, higher transaction
costs and higher investment risk.  Smaller companies may have limited product lines, markets or financial resources, may be
dependent on a limited management group, and may lack substantial capital reserves or an established performance record.  There
may be generally less publicly available information about such companies than for larger, more established companies.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Securities Lending Risk.  Securities lending involves
possible delay in recovery of the securities or possible loss of rights in the collateral should the borrower fail financially.
As a result, the value of Fund shares may fall and there may be a delay in recovering the loaned securities. The value of Fund
shares could also fall if a loan is called and the Fund is required to liquidate reinvested collateral at a loss or if the investment
adviser is unable to reinvest cash collateral at rates that exceed the costs involved.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Risks Associated with Active Management.  The Fund is
an actively managed portfolio and its success depends upon the investment skills and analytical abilities of the sub- adviser to
develop and effectively implement strategies to achieve the Fund’s investment objective.  Subjective decisions made
by the sub- adviser may cause the Fund to incur losses or to miss profit opportunities on which it may otherwise have capitalized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">General Fund Investing Risks.  The Fund is not a complete
investment program and you may lose money by investing in the Fund.  All investments carry a certain amount of risk and there
is no guarantee that the Fund will be able to achieve its investment objective.  Annual Fund Operating Expenses expressed
as a percentage of the Fund’s average daily net assets may change as Fund assets increase and decrease, and Annual Fund Operating
Expenses may differ in the future.  Purchase and redemption activities by Fund shareholders may impact the management of the
Fund and its ability to achieve its investment objective.   In addition, the redemption by one or more large shareholders
or groups of shareholders of their holdings in the Fund could have an adverse impact on the remaining shareholders in the Fund.
  Investors in the Fund should have a long-term investment perspective and be able to tolerate potentially sharp declines
in value. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency, entity or person.  Mutual funds, investment advisers, other market participants
and many securities markets are subject to rules and regulations and the jurisdiction of one or more regulators.  Changes
to applicable rules and regulations could have an adverse affect on securities markets and market participants, as well as on the
Fund’s ability to execute its investment strategy.</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Performance</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Performance</p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 0">Performance</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The following bar chart and table provide some indication
of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s
average annual returns over time compare with those of a broad-based securities market index.  The returns in the bar chart
are for Class I shares and do not reflect a sales charge.   Past performance (both before and after taxes) is no guarantee
of future results.  The Fund’s performance reflects the effects of expense reductions for certain periods.  Absent
these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Performance history will be available for the Fund after the
Fund has been in operation for one full calendar year.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The following bar chart and table provide some indication
of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s
average annual returns over time compare with those of two broad-based securities market indices.  The returns in the bar
chart are for Class I shares and do not reflect a sales charge.  Past performance (both before and after taxes) is no guarantee
of future results.  The Fund’s performance reflects the effects of expense reductions.  Absent these reductions,
performance would have been lower.  Updated Fund performance information can be obtained by visiting www.eatonvance.com.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0"> You may qualify for a reduced sales charge if you invest, or agree to invest over
a 13-month period, at least $50,000 in Eaton Vance Funds.  More information about these and other discounts is available from
your financial intermediary and in Sales Charges beginning on page 28 of this Prospectus and page 22 of the Fund’s Statement
of Additional Information.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">You may qualify for a reduced sales charge if you invest, or agree to invest over
a 13-month period, at least $50,000 in Eaton Vance Funds.  More information about these and other discounts is available from
your financial intermediary and in Sales Charges beginning on page 28 of this Prospectus and page 22 of the Fund’s Statement
of Additional Information.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">You may qualify for a reduced sales charge if you invest, or agree to invest over
a 13-month period, at least $50,000 in Eaton Vance Funds.  More information about these and other discounts is available from
your financial intermediary and in Sales Charges beginning on page 28 of this Prospectus and page 22 of the Fund’s Statement
of Additional Information.  </p>
50000
50000
50000
EAALX
EAGCX
EILGX
ESEAX
ESEIX
EAASX
ECASX
EISMX
ERSMX
<p style="font: 12pt/12pt NewsGoth Dm BT,Times New Roman; margin-top: 4px; margin-bottom: 4px">Shareholder Fees (fees paid directly from your investment)</p>
<p style="font: 12pt/12pt NewsGoth Dm BT,Times New Roman; margin-top: 4px; margin-bottom: 4px">Shareholder Fees (fees paid directly from your investment)</p>
<p style="font: 12pt/12pt NewsGoth Dm BT,Times New Roman; margin-top: 4px; margin-bottom: 4px">Shareholder Fees (fees paid directly from your investment)</p>
<p style="font: 12pt/12pt NewsGoth Dm BT,Times New Roman; margin-top: 4px; margin-bottom: 4px">Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)</p>
<p style="font: 12pt/12pt NewsGoth Dm BT,Times New Roman; margin-top: 4px; margin-bottom: 4px">Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)</p>
<p style="font: 12pt/12pt NewsGoth Dm BT,Times New Roman; margin-top: 4px; margin-bottom: 4px">Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)*</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">During the ten years ended December 31, 2012 , the highest
quarterly total return for Class I was 21.57 % for the quarter ended March 31, 2012 , and the lowest quarterly return was –23.90%
for the quarter ended December 31, 2008.   </p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">During the ten years ended December 31, 2012 , the highest
quarterly total return for Class I was 17.67% for the quarter ended June 30, 2009, and the lowest quarterly return was  –19.66%
for the quarter ended December 31, 2008.</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">These returns reflect the maximum sales charge for Class
A (5.75%).  The Class A performance shown above for the period prior to November 28, 2003 (commencement of operations) is
the performance of Class I shares, adjusted for the sales charge that applies to Class A shares (but not adjusted for any other
differences in expenses of the two classes).  The Class C performance shown above for the period prior to May 2, 2011 (commencement
of operations) is the performance of Class A shares, adjusted for the sales charge that applies to Class C shares (but not adjusted
for any other differences in the expenses of the two classes) and the Class C performance shown above for the period prior to November
28, 2003 is the performance of Class I shares, adjusted for the sales charge that applies to Class C shares (but not adjusted for
any other differences in expenses of the two classes).   If adjusted for other expenses, returns would be different.
 Investors cannot invest directly in an Index.</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">After-tax returns are calculated using the highest historical
individual federal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend
on a shareholder’s tax situation and the actual characterization of distributions, and may differ from those shown.  After-tax
returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.  After-tax
returns for other Classes of shares will vary from the after-tax returns presented for Class I shares.  Return After Taxes
on Distributions for a period may be the same as Return Before Taxes for that period because no taxable distributions were made
during that period.  Also, Return After Taxes on Distributions and the Sale of Fund Shares for a period may be greater than
or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.  </p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">These returns reflect the maximum sales charge for Class
A (5.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C.  The Class A performance shown
above for the period prior to November 28, 2003 (commencement of operations) is the performance of Class I shares, adjusted for
the sales charge that applies to Class A shares (but not adjusted for any other differences in expenses of the two classes). The
Class C performance shown above for the period prior to October 1, 2009 (commencement of operations) is the performance of Class
A shares, adjusted for the sales charge that applies to Class C shares (but not adjusted for any other differences in expenses
of the two classes) and the Class C performance shown above for the period prior to November 28, 2003 is the performance of Class
I shares, adjusted for the sales charge that applies to Class C shares (but not adjusted for any other differences in expenses
of the two classes).  The Class R performance shown above for the period between August 3, 2009 (re-commencement of operations)
and September 11, 2004 (date of closing of Class R) is the performance of Class A shares, adjusted for the sales charge that applies
to Class R shares (but not adjusted for any other differences in expenses of the two classes).  Class R returns between December
31 , 2002 and September 11, 2004 reflect actual total return of the Class R shares.  If adjusted for other expenses, returns
would be different.  Investors cannot invest directly in an Index.   </p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">After-tax returns are calculated using the highest historical
individual federal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend
on a shareholder’s tax situation and the actual characterization of distributions, and may differ from those shown.  After-tax
returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.  After-tax
returns for other Classes of shares will vary from the after-tax returns presented for Class I shares.  Return After Taxes
on Distributions for a period may be the same as Return Before Taxes for that period because no taxable distributions were made
during that period.  Also, Return After Taxes on Distributions and the Sale of Fund Shares for a period may be greater than
or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.  </p>
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0.0575
0
0
0.0575
0
0.0575
0
0
0
0
0.0100
0
0
0
0
0.0100
0
0
0.0065
0.0065
0.0065
0.0080
0.0080
0.0091
0.0091
0.0091
0.0091
0.0025
0.0100
0
0.0025
0
0.0025
0.0100
0
0.0050
0.0027
0.0026
0.0027
0.0152
0.0152
0.0016
0.0016
0.0016
0.0016
0.0117
0.0191
0.0092
0.0257
0.0232
0.0132
0.0207
0.0107
0.0157
0.0120
0.0095
0.0125
0.0200
0.0100
0.0150
687
294
94
690
97
695
303
102
153
925
600
293
1205
593
963
642
333
489
1182
1032
509
1746
1115
1251
1107
583
849
1914
2233
1131
3216
2550
2068
2394
1299
1861
687
194
94
695
203
102
153
925
600
293
963
642
333
489
1182
1032
509
1251
1107
583
849
1914
2233
1131
2068
2394
1299
1861
0.2493
0.2685
0.0596
0.1885
0.0391
0.0476
0.0874
0.1479
0.1239
0.1200
-0.3688
-0.2599
0.3357
0.3526
0.1804
0.2580
-0.0582
0.0562
0.1800
0.1426
0.1526
0.1083
0.1593
0.1800
0.1799
0.1172
0.1788
0.0732
0.1207
0.1635
0.1426
0.1421
0.0934
0.1366
0.0312
-0.0058
0.0156
0.0204
0.0177
0.0164
0.0434
0.0718
0.0792
0.0355
0.0872
0.0857
0.0753
0.0828
0.0751
0.0553
0.0603
0.0639
0.0596
0.0554
0.1048
0.1100
0.1139
0.0971
0.1192
0.1133
0.1047
0.1151
0.60
0.17
0.12
0.06
* Expenses in the table above and
the Example below reflect the expenses of the Fund and the Portfolio.
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Under normal market conditions, the Fund invests in common
stocks of approximately 20 to 35 companies , primarily with large market capitalizations.  The Fund will normally invest in
common stocks of companies having market capitalizations that rank among the top 1,000 U.S. companies.  The Fund may invest
in dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including
depositary receipts which evidence ownership in underlying foreign stocks).  The Fund may also lend its securities.</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 2.8pt 0">Under normal circumstances, the Fund invests at least
80% of its net assets in equity securities (the “80% Policy”).  The Fund normally invests in the common stocks
of approximately 25 to 40 companies.  The Fund may invest in companies across a broad capitalization range, but primarily
invests in mid-to large-cap companies with capitalizations comparable to those companies included in the Russell 1000 Index.  Although
it invests primarily in U.S. traded securities (including depositary receipts evidencing ownership in underlying foreign stocks),
the Fund may invest up to 25% of its total assets in foreign securities, including those trading in developed and emerging international
markets.  The Fund may invest in real estate investment trusts and may lend its securities.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 5.6pt">The Fund invests primarily in common stocks of companies
with small to mid-sized market capitalizations (“small- to mid-cap stocks”).  The Fund will normally invest in
common stocks of companies having market capitalizations within the range of companies comprising the Russell 2500 Index.  Under
normal circumstances, the Fund invests at least 80% of its net assets in small- to mid-cap stocks (the “80% Policy”).
 The Fund may also invest in larger companies and in dollar-denominated securities of foreign companies that trade on U.S.
exchanges or in the over-the-counter market (including depositary receipts which evidence ownership in underlying foreign stocks).
 The Fund may also lend its securities</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Issuer Diversification Risk. The Fund is “non-diversified”
which means it may invest a greater percentage of its assets in the securities of a single issuer than funds that are “diversified.”
 Non-diversified funds face the risk of focusing investments in a small number of issuers, making them more susceptible to
risks affecting such issuers than a more diversified fund might be.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Issuer Diversification Risk. The Fund is “non-diversified”
which means it may invest a greater percentage of its assets in the securities of a single issuer than funds that are “diversified.”
 Non-diversified funds face the risk of focusing investments in a small number of issuers, making them more susceptible to
risks affecting such issuers than a more diversified fund might be.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05in 0"> The Fund is not a complete
investment program and you may lose money by investing in the Fund.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05in 0"> The Fund is not a complete
investment program and you may lose money by investing in the Fund.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05in 0"> The Fund is not a complete
investment program and you may lose money by investing in the Fund.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05in 0">An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency, entity or person. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05in 0">An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency, entity or person. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05in 0">An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency, entity or person. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">Performance history will be available for the Fund after the
Fund has been in operation for one full calendar year.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The following bar chart and table provide some indication
of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s
average annual returns over time compare with those of a broad-based securities market index. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The following bar chart and table provide some indication
of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s
average annual returns over time compare with those of two broad-based securities market indices.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The returns in the bar
chart are for Class I shares and do not reflect a sales charge.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">The returns in the bar
chart are for Class I shares and do not reflect a sales charge.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">www.eatonvance.com</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 5.6pt 0">www.eatonvance.com</p>
Past performance (both before and after taxes) is no guarantee of future results.
Past performance (both before and after taxes) is no guarantee of future results.
After-tax returns are calculated using the highest historical individual federal
income tax rates and do not reflect the impact of state and local taxes. Actual
after-tax returns depend on a shareholder's tax situation and the actual
characterization of distributions, and may differ from those shown.
After-tax returns are calculated using the highest historical individual federal
income tax rates and do not reflect the impact of state and local taxes. Actual
after-tax returns depend on a shareholder's tax situation and the actual
characterization of distributions, and may differ from those shown.
After-tax returns are not relevant to shareholders who hold shares in
tax-deferred accounts or to shares held by non-taxable entities.
After-tax returns are not relevant to shareholders who hold shares in
tax-deferred accounts or to shares held by non-taxable entities.
After-tax returns for other Classes of shares will vary from the after-tax returns
presented for Class I shares.
After-tax returns for other Classes of shares will vary from the after-tax returns
presented for Class I shares.
Return After Taxes on Distributions for a period may be the same as Return
Before Taxes for a period because no taxable distributions were made during that
period. Also, Return After Taxes on Distributions and Sale of Fund Shares for a
period may be greater than or equal to Return After Taxes on Distributions for
the same period because of losses realized on the sale of Fund shares.
Return After Taxes on Distributions for a period may be the same as Return
Before Taxes for a period because no taxable distributions were made during that
period. Also, Return After Taxes on Distributions and Sale of Fund Shares for a
period may be greater than or equal to Return After Taxes on Distributions for
the same period because of losses realized on the sale of Fund shares.
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">These returns reflect the maximum sales charge for Class
A (5.75%).</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">These returns reflect the maximum sales charge for Class
A (5.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. </p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">During the ten years ended December 31, 2012 , the highest
quarterly total return for Class I was</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">During the ten years ended December 31, 2012 , the highest
quarterly total return for Class I was</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">and the lowest quarterly return was</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">and the lowest quarterly return was</p>
2012-03-31
2009-06-30
0.2157
0.1767
2008-12-31
2008-12-31
-0.2390
-0.1966
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0"> The Class A performance shown above for the period prior to November 28, 2003 (commencement of operations) is
the performance of Class I shares, adjusted for the sales charge that applies to Class A shares (but not adjusted for any other
differences in expenses of the two classes).  The Class C performance shown above for the period prior to May 2, 2011 (commencement
of operations) is the performance of Class A shares, adjusted for the sales charge that applies to Class C shares (but not adjusted
for any other differences in the expenses of the two classes) and the Class C performance shown above for the period prior to November
28, 2003 is the performance of Class I shares, adjusted for the sales charge that applies to Class C shares (but not adjusted for
any other differences in expenses of the two classes).</p>
<p style="font: 9pt/10pt Times New Roman, Times, Serif; margin: 2.8pt 0">The Class A performance shown
above for the period prior to November 28, 2003 (commencement of operations) is the performance of Class I shares, adjusted for
the sales charge that applies to Class A shares (but not adjusted for any other differences in expenses of the two classes). The
Class C performance shown above for the period prior to October 1, 2009 (commencement of operations) is the performance of Class
A shares, adjusted for the sales charge that applies to Class C shares (but not adjusted for any other differences in expenses
of the two classes) and the Class C performance shown above for the period prior to November 28, 2003 is the performance of Class
I shares, adjusted for the sales charge that applies to Class C shares (but not adjusted for any other differences in expenses
of the two classes).  The Class R performance shown above for the period between August 3, 2009 (re-commencement of operations)
and September 11, 2004 (date of closing of Class R) is the performance of Class A shares, adjusted for the sales charge that applies
to Class R shares (but not adjusted for any other differences in expenses of the two classes). </p>
(reflects no deduction for fees, expenses or taxes)
(reflects no deduction for fees, expenses or taxes)
(reflects no deduction for fees, expenses or taxes)
The sub-adviser has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 1.25% for Class A shares, 2.00% for Class C shares, 1.00% for Class I shares and 1.50% for Class R shares. This expense reimbursement will continue through January 31, 2014 . Any amendment to or a termination of this reimbursement would require written approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the sub-adviser during the Fund's current fiscal year to the extent actual expenses are less than the contractual expense cap during such year.
The investment adviser and administrator and sub-adviser have agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 1.20% for Class A shares and 0.95% for Class I shares. This expense reimbursement will continue through January 31, 2014 . Any amendment to or a termination of this reimbursement would require written approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator and sub-adviser during the Fund's current fiscal year to the extent actual expenses are less than the contractual expense cap during such year.