EATON VANCE 1-to-10 YEAR LADDERED CORPORATE BOND FUND
Supplement to Statement of Additional Information (SAI) dated September 27, 2016
EATON VANCE EMERGING MARKETS DEBT OPPORTUNITIES FUND
Supplement to SAI dated December 1, 2016
EATON VANCE EMERGING AND FRONTIER COUNTRIES EQUITY FUND
Supplement to SAI dated March 1, 2017 as revised May 2, 2017
EATON VANCE FOCUSED GLOBAL OPPORTUNITIES FUND
EATON VANCE FOCUSED INTERNATIONAL OPPORTUNITIES FUND
EATON VANCE INTERNATIONAL SMALL-CAP FUND
Supplement to SAIs dated April 1, 2017
EATON VANCE CORE BOND FUND
Supplement to SAI dated May 1, 2017
EATON VANCE FLOATING-RATE MUNICIPAL INCOME FUND
Supplement to SAI dated August 1, 2017
1. The following changes were effective September 30, 2017:
a. Scott E. Eston resigned as a Noninterested Trustee.
b. The following replaces the first sentence of the paragraph describing the Governance Committee under Fund Management. in Management and Organization:
Mmes. Taggart (Chairperson), Frost, Mosley, Peters and Sutherland, and Messrs. Fetting, Gorman, Park and Wennerholm are members of the Governance Committee.
c. The following replaces the first sentence of the paragraph describing the Audit Committee under Fund Management. in Management and Organization:
Messrs. Gorman (Chairperson), Park and Wennerholm and Ms. Mosley are members of the Audit Committee.
d. The following replaces the first sentence of the paragraph describing the Contract Review Committee under Fund Management. in Management and Organization:
Messrs. Wennerholm (Chairperson), Fetting, Gorman and Park and Mmes. Frost, Mosley, Peters, Sutherland and Taggart are members of the Contract Review Committee.
e. The following replaces the first sentence of the paragraph describing the Compliance Reports and Regulatory Matters Committee under Fund Management. in Management and Organization:
Mmes. Sutherland (Chairperson) and Taggart and Messrs. Gorman and Wennerholm are members of the Compliance Reports and Regulatory Matters Committee.
2. The following change was effective November 1, 2017:
The following replaces the information for Paul M. ONeil in the table under Fund Management. in Management and Organization under Principal Officers who are not Trustees:
Name and Year of Birth |
| Trust Position(s) |
| Length of Service |
| Principal Occupation(s) During Past Five Years |
RICHARD F. FROIO |
| Chief Compliance Officer |
| Since 2017 |
| Vice President of Eaton Vance and BMR since 2017. Officer of 173 registered investment companies managed by Eaton Vance or BMR. Formerly, Deputy Chief Compliance Officer (Adviser/Funds) and Chief Compliance Officer (Distribution) at PIMCO (2012-2017) and Managing Director at BlackRock/Barclays Global Investors (2009-2012). |
3. The following changes are effective immediately and apply to each Fund:
a. The following replaces the second paragraph under Additional Information About Purchases. in Purchasing and Redeeming Shares:
In connection with employer sponsored retirement plans, a Fund may accept initial investments of less than the minimum investment amount on the part of an individual participant. However, such account will be subject to the right of redemption by a Fund as described below.
b. The following replaces Class I Share Purchases. in Purchasing and Redeeming Shares:
Class I Share Purchases. Class I shares are available for purchase by clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Class I shares through a no-load network or platform. Such clients may include individuals, corporations, endowments, foundations and employer sponsored retirement plans. Class I shares may also be available through brokerage platforms of broker-dealer firms that have agreements with a Funds principal underwriter to offer Class I shares solely when acting as an agent for the investor. An investor acquiring Class I shares through such platforms may be required to pay a commission and/or other forms of compensation to the broker. Class I shares also are offered to investment and institutional clients of Eaton Vance and its affiliates; certain persons affiliated with Eaton Vance and its affiliates; current and retired members of Eaton Vance Fund Boards; employees of Eaton Vance and its affiliates and such persons spouses, parents, siblings and lineal descendants and their beneficial accounts.
c. The following replaces the second paragraph under Additional Information About Redemptions. in Purchasing and Redeeming Shares:
Due to the high cost of maintaining small accounts, the Trust reserves the right to redeem accounts with balances of less than $750. Prior to such a redemption, shareholders will be given 60 days written notice to make an additional purchase. No CDSC or redemption fees, if applicable, will be imposed with respect to such involuntary redemptions.
As disclosed in the Prospectus, the Fund typically expects to meet redemption requests by (i) distributing any cash holdings, (ii) selling portfolio investments and/or (iii) borrowing from a bank under a line of credit. In addition to the foregoing, the Fund also may distribute securities as payment (a so-called redemption in-kind), in which case the redeeming shareholder may pay fees and commissions to convert the securities to cash. Unless requested by a shareholder, the Fund expects to limit use of redemption in-kind to stressed market conditions, but is permitted to do so in other circumstances. Any redemption in-kind would be made in accordance with policies adopted by the Fund, which allow the Fund to distribute securities pro rata or as selected by the investment adviser or sub-adviser, if applicable.
The Fund participates in a joint credit facility arrangement with other Eaton Vance funds and may borrow amounts available thereunder for temporary purposes, such as meeting redemptions. See Additional Information about Investment Strategies Borrowing for Temporary Purposes herein. The Fund also has exemptive relief to participate in an interfund lending program with other Eaton Vance funds. Such program is not operational as of the date of this SAI.
As noted above, the Fund may pay the redemption price of shares of the Fund, either totally or partially, by a distribution in kind of securities. All requests for redemptions in-kind must be in good order. Provided the redemption request is received by the Fund not later than 12:00 p.m. (Eastern Time) on the day of the redemption, the Fund may in its discretion, if requested by a redeeming shareholder, provide the redeeming shareholders with an estimate of the securities to be distributed. Any difference between the redemption value of the distributed securities and the value of the Fund shares redeemed will be settled in cash. Securities distributed in a redemption in-kind would be valued pursuant to the Funds valuation procedures and selected by the investment adviser or sub-adviser, if applicable. If a shareholder receives securities in a redemption in-kind, the shareholder could incur brokerage or other charges in converting the securities to cash and the value of such securities would be subject to price fluctuations until sold.
4. The following changes are effective immediately and apply to each Fund except Eaton Vance Focused Global Opportunities Fund and Eaton Vance Focused International Opportunities Fund:
a. The following replaces Purchases at Net Asset Value. in Sales Charges:
Purchases at Net Asset Value. Class A shares may be sold at net asset value (without a sales charge) to clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Class A shares through a no-
load network or platform; current and retired members of Eaton Vance Fund Boards; to clients (including custodial, agency, advisory and trust accounts) and current and former Directors, officers and employees of Eaton Vance, its affiliates and other investment advisers and sub-advisers of Eaton Vance sponsored funds; and to such persons spouses, parents, siblings and lineal descendants and their beneficial accounts. Such shares may also be issued at net asset value (1) in connection with the merger (or similar transaction) of an investment company (or series or class thereof) or personal holding company with the Fund (or class thereof), (2) to HSAs (Health Savings Accounts) and to employer sponsored retirement plans and trusts used to fund those plans, (3) to officers and employees of the Funds custodian and transfer agent, (4) in connection with the ReFlow liquidity program and (5) direct purchases of shares by accounts where no financial intermediary is specified. Class A shares may also be sold at net asset value to registered representatives and employees of financial intermediaries. Class A shares are also offered at NAV to shareholders who make a permitted direct transfer or roll-over to an Eaton Vance prototype IRA from an employer-sponsored retirement plan previously invested in Eaton Vance funds (applicable only to the portion previously invested in Eaton Vance funds), provided that sufficient documentation is provided to the transfer agent of such transfer or roll-over at the time of the account opening. Sales charges generally are waived because either (i) there is no sales effort involved in the sale of shares or (ii) the investor is paying a fee (other than the sales charge) to the financial intermediary involved in the sale. Any new or revised sales charge or CDSC waiver will be prospective only. A financial intermediary may not, in accordance with its policies and procedures, offer one or more of the waiver categories described above and shareholders should consult their financial intermediary for more information.
b. The following replaces CDSC Waiver. in Sales Charges:
CDSC Waiver. CDSCs will be waived in connection with redemptions from employer sponsored retirement plans or individual retirement accounts to satisfy required minimum distributions by applying the rate required to be withdrawn under the applicable rules and regulations of the IRS to the balance of shares in your account. CDSCs will also be waived in connection with returning excess contributions made to individual retirement accounts.
November 6, 2017
11.6.17
EATON VANCE ARIZONA MUNICIPAL INCOME FUND
EATON VANCE CONNECTICUT MUNICIPAL INCOME FUND
EATON VANCE MINNESOTA MUNICIPAL INCOME FUND
EATON VANCE MUNICIPAL OPPORTUNITIES FUND
EATON VANCE NEW JERSEY MUNICIPAL INCOME FUND
EATON VANCE PENNSYLVANIA MUNICIPAL INCOME FUND
Supplement to Statement of Additional Information (SAI) dated December 1, 2016
EATON VANCE GEORGIA MUNICIPAL INCOME FUND
EATON VANCE MARYLAND MUNICIPAL INCOME FUND
EATON VANCE MISSOURI MUNICIPAL INCOME FUND
EATON VANCE NORTH CAROLINA MUNICIPAL INCOME FUND
EATON VANCE OREGON MUNICIPAL INCOME FUND
EATON VANCE SOUTH CAROLINA MUNICIPAL INCOME FUND
EATON VANCE VIRGINIA MUNICIPAL INCOME FUND
EATON VANCE WORLDWIDE HEALTH SCIENCES FUND
Supplement to SAIs dated January 1, 2017
EATON VANCE MASSACHUSETTS MUNICIPAL INCOME FUND
EATON VANCE NATIONAL MUNICIPAL INCOME FUND
EATON VANCE NEW YORK MUNICIPAL INCOME FUND
EATON VANCE OHIO MUNICIPAL INCOME FUND
Supplement to SAI dated February 1, 2017
EATON VANCE FLOATING-RATE ADVANTAGE FUND
EATON VANCE FLOATING-RATE FUND
EATON VANCE FLOATING-RATE & HIGH INCOME FUND
EATON VANCE GOVERNMENT OBLIGATIONS FUND
EATON VANCE HIGH INCOME OPPORTUNITIES FUND
EATON VANCE INCOME FUND OF BOSTON
EATON VANCE MULTI-STRATEGY ABSOLUTE RETURN FUND
EATON VANCE MULTI-STRATEGY ALL MARKET FUND
EATON VANCE SHORT DURATION GOVERNMENT INCOME FUND
EATON VANCE SHORT DURATION HIGH INCOME FUND
EATON VANCE TAX-MANAGED EQUITY ASSET ALLOCATION FUND
EATON VANCE TAX-MANAGED GLOBAL DIVIDEND INCOME FUND
EATON VANCE TAX-MANAGED GLOBAL SMALL-CAP FUND
EATON VANCE TAX-MANAGED MULTI-CAP GROWTH FUND
EATON VANCE TAX-MANAGED SMALL-CAP FUND
EATON VANCE TAX-MANAGED VALUE FUND
Supplement to SAIs dated March 1, 2017
EATON VANCE DIVERSIFIED CURRENCY INCOME FUND
EATON VANCE EMERGING MARKETS LOCAL INCOME FUND
EATON VANCE GLOBAL MACRO ABSOLUTE RETURN FUND
EATON VANCE GLOBAL MACRO ABSOLUTE RETURN ADVANTAGE FUND
EATON VANCE SHORT DURATION STRATEGIC INCOME FUND
Supplement to SAI dated March 1, 2017 as revised June 21, 2017
EATON VANCE BALANCED FUND
EATON VANCE GREATER INDIA FUND
EATON VANCE TAX-MANAGED GROWTH FUND 1.1
EATON VANCE TAX-MANAGED GROWTH FUND 1.2
Supplement to SAIs dated May 1, 2017
EATON VANCE HIGH YIELD MUNICIPAL INCOME FUND
Supplement to SAI dated June 1, 2017
EATON VANCE NATIONAL LIMITED MATURITY MUNICIPAL INCOME FUND
Supplement to SAI dated August 1, 2017
1. The following changes were effective September 30, 2017:
a. Scott E. Eston resigned as a Noninterested Trustee.
b. The following replaces the first sentence of the paragraph describing the Governance Committee under Fund Management. in Management and Organization:
Mmes. Taggart (Chairperson), Frost, Mosley, Peters and Sutherland, and Messrs. Fetting, Gorman, Park and Wennerholm are members of the Governance Committee.
c. The following replaces the first sentence of the paragraph describing the Audit Committee under Fund Management. in Management and Organization:
Messrs. Gorman (Chairperson), Park and Wennerholm and Ms. Mosley are members of the Audit Committee.
d. The following replaces the first sentence of the paragraph describing the Contract Review Committee under Fund Management. in Management and Organization:
Messrs. Wennerholm (Chairperson), Fetting, Gorman and Park and Mmes. Frost, Mosley, Peters, Sutherland and Taggart are members of the Contract Review Committee.
e. The following replaces the first sentence of the paragraph describing the Compliance Reports and Regulatory Matters Committee under Fund Management. in Management and Organization:
Mmes. Sutherland (Chairperson) and Taggart and Messrs. Gorman and Wennerholm are members of the Compliance Reports and Regulatory Matters Committee.
2. The following change was effective November 1, 2017:
The following replaces the information for Paul M. ONeil in the table under Fund Management. in Management and Organization under Principal Officers who are not Trustees:
Name and Year of Birth |
| Trust Position(s) |
| Length of Service |
| Principal Occupation(s) During Past Five Years |
RICHARD F. FROIO |
| Chief Compliance Officer |
| Since 2017 |
| Vice President of Eaton Vance and BMR since 2017. Officer of 173 registered investment companies managed by Eaton Vance or BMR. Formerly, Deputy Chief Compliance Officer (Adviser/Funds) and Chief Compliance Officer (Distribution) at PIMCO (2012-2017) and Managing Director at BlackRock/Barclays Global Investors (2009-2012). |
3. The following changes are effective immediately:
a. The following replaces the second paragraph under Additional Information About Purchases. in Purchasing and Redeeming Shares:
In connection with employer sponsored retirement plans, a Fund may accept initial investments of less than the minimum investment amount on the part of an individual participant. However, such account will be subject to the right of redemption by a Fund as described below.
b. The following replaces Class I Share Purchases. in Purchasing and Redeeming Shares:
Class I Share Purchases. Class I shares are available for purchase by clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Class I shares through a no-load network or platform. Such clients may include individuals, corporations, endowments, foundations and employer sponsored retirement plans. Class I shares may also be available through brokerage platforms of broker-dealer firms that have agreements with a Funds principal underwriter to offer Class I shares solely when acting as an agent for the investor. An investor acquiring Class I shares through such platforms may be required to pay a commission and/or other forms of compensation to the broker. Class I shares also are offered to investment and institutional clients of Eaton Vance and its affiliates; certain persons affiliated with Eaton Vance and its affiliates; current and retired members of Eaton Vance Fund Boards; employees of Eaton Vance and its affiliates and such persons spouses, parents, siblings and lineal descendants and their beneficial accounts.
c. The following replaces the second paragraph under Additional Information About Redemptions. in Purchasing and Redeeming Shares:
Due to the high cost of maintaining small accounts, the Trust reserves the right to redeem accounts with balances of less than $750. Prior to such a redemption, shareholders will be given 60 days written notice to make an
additional purchase. No CDSC or redemption fees, if applicable, will be imposed with respect to such involuntary redemptions.
As disclosed in the Prospectus, the Fund typically expects to meet redemption requests by (i) distributing any cash holdings, (ii) selling portfolio investments and/or (iii) borrowing from a bank under a line of credit. In addition to the foregoing, the Fund also may distribute securities as payment (a so-called redemption in-kind), in which case the redeeming shareholder may pay fees and commissions to convert the securities to cash. Unless requested by a shareholder, the Fund expects to limit use of redemption in-kind to stressed market conditions, but is permitted to do so in other circumstances. Any redemption in-kind would be made in accordance with policies adopted by the Fund, which allow the Fund to distribute securities pro rata or as selected by the investment adviser or sub-adviser, if applicable.
The Fund participates in a joint credit facility arrangement with other Eaton Vance funds and may borrow amounts available thereunder for temporary purposes, such as meeting redemptions. See Additional Information about Investment Strategies Borrowing for Temporary Purposes herein. The Fund also has exemptive relief to participate in an interfund lending program with other Eaton Vance funds. Such program is not operational as of the date of this SAI.
As noted above, the Fund may pay the redemption price of shares of the Fund, either totally or partially, by a distribution in kind of securities. All requests for redemptions in-kind must be in good order. Provided the redemption request is received by the Fund not later than 12:00 p.m. (Eastern Time) on the day of the redemption, the Fund may in its discretion, if requested by a redeeming shareholder, provide the redeeming shareholders with an estimate of the securities to be distributed. Any difference between the redemption value of the distributed securities and the value of the Fund shares redeemed will be settled in cash. Securities distributed in a redemption in-kind would be valued pursuant to the Funds valuation procedures and selected by the investment adviser or sub-adviser, if applicable. If a shareholder receives securities in a redemption in-kind, the shareholder could incur brokerage or other charges in converting the securities to cash and the value of such securities would be subject to price fluctuations until sold.
d. The following replaces Purchases at Net Asset Value. in Sales Charges:
Purchases at Net Asset Value. Class A shares may be sold at net asset value (without a sales charge) to clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Class A shares through a no-load network or platform; current and retired members of Eaton Vance Fund Boards; to clients (including custodial, agency, advisory and trust accounts) and current and former Directors, officers and employees of Eaton Vance, its affiliates and other investment advisers and sub-advisers of Eaton Vance sponsored funds; and to such persons spouses, parents, siblings and lineal descendants and their beneficial accounts. Such shares may also be issued at net asset value (1) in connection with the merger (or similar transaction) of an investment company (or series or class thereof) or personal holding company with the Fund (or class thereof), (2) to HSAs (Health Savings Accounts) and to employer sponsored retirement plans and trusts used to fund those plans, (3) to officers and employees of the Funds custodian and transfer agent, (4) in connection with the ReFlow liquidity program and (5) direct purchases of shares by accounts where no financial intermediary is specified. Class A shares may also be sold at net asset value to registered representatives and employees of financial intermediaries. Class A shares are also offered at NAV to shareholders who make a permitted direct transfer or roll-over to an Eaton Vance prototype IRA from an employer-sponsored retirement plan previously invested in Eaton Vance funds (applicable only to the portion previously invested in Eaton Vance funds), provided that sufficient documentation is provided to the transfer agent of such transfer or roll-over at the time of the account opening. Sales charges generally are waived because either (i) there is no sales effort involved in the sale of shares or (ii) the investor is paying a fee (other than the sales charge) to the financial intermediary involved in the sale. Any new or revised sales charge or CDSC waiver will be prospective only. A financial intermediary may not, in accordance with its policies and procedures, offer one or more of the waiver categories described above and shareholders should consult their financial intermediary for more information.
e. The following replaces CDSC Waiver. in Sales Charges:
CDSC Waiver. CDSCs will be waived in connection with redemptions from employer sponsored retirement plans or individual retirement accounts to satisfy required minimum distributions by applying the rate required to be withdrawn under the applicable rules and regulations of the IRS to the balance of shares in your account. CDSCs will also be waived in connection with returning excess contributions made to individual retirement accounts.
November 6, 2017
11.6.17
EATON VANCE HEXAVEST GLOBAL EQUITY FUND
EATON VANCE HEXAVEST INTERNATIONAL EQUITY FUND
Supplement to Statement of Additional Information (SAI) dated December 1, 2016
EATON VANCE RICHARD BERNSTEIN ALL ASSET STRATEGY FUND
EATON VANCE RICHARD BERNSTEIN EQUITY STRATEGY FUND
Supplement to SAI dated January 1, 2017
EATON VANCE GREATER CHINA GROWTH FUND
Supplement to SAI dated January 1, 2017 as revised May 1, 2017
EATON VANCE AMT-FREE MUNICIPAL INCOME FUND
EATON VANCE ATLANTA CAPITAL FOCUSED GROWTH FUND
EATON VANCE ATLANTA CAPITAL SELECT EQUITY FUND
EATON VANCE ATLANTA CAPITAL SMID-CAP FUND
EATON VANCE CALIFORNIA MUNICIPAL OPPORTUNITIES FUND
EATON VANCE CORE PLUS BOND FUND
Supplement to SAIs dated February 1, 2017
EATON VANCE COMMODITY STRATEGY FUND
EATON VANCE GLOBAL INCOME BUILDER FUND
EATON VANCE MULTISECTOR INCOME FUND
EATON VANCE SHORT DURATION INFLATION-PROTECTED INCOME FUND
Supplement to SAIs dated March 1, 2017
EATON VANCE HEDGED STOCK FUND
Supplement to SAIs dated April 1, 2017
EATON VANCE DIVIDEND BUILDER FUND
EATON VANCE GLOBAL SMALL-CAP FUND
EATON VANCE GROWTH FUND
EATON VANCE LARGE-CAP VALUE FUND
EATON VANCE REAL ESTATE FUND
EATON VANCE SMALL-CAP FUND
EATON VANCE SPECIAL EQUITIES FUND
EATON VANCE STOCK FUND
Supplement to SAIs dated May 1, 2017
EATON VANCE TABS INTERMEDIATE-TERM MUNICIPAL BOND FUND
EATON VANCE TABS SHORT-TERM MUNICIPAL BOND FUND
EATON VANCE TABS 1-to-10 YEAR LADDERED MUNICIPAL BOND FUND
EATON VANCE TABS 5-to-15 YEAR LADDERED MUNICIPAL BOND FUND
EATON VANCE TABS 10-to-20 YEAR LADDERED MUNICIPAL BOND FUND
Supplement to SAIs dated June 1, 2017
EATON VANCE FOCUSED GROWTH OPPORTUNITIES FUND
EATON VANCE FOCUSED VALUE OPPORTUNITIES FUND
Supplement to SAI dated July 1, 2017
EATON VANCE NEW YORK MUNICIPAL OPPORTUNITIES FUND
EATON VANCE SHORT DURATION MUNICIPAL OPPORTUNITIES FUND
Supplement to SAIs dated August 1, 2017
1. The following changes were effective September 30, 2017:
a. Scott E. Eston resigned as a Noninterested Trustee.
b. The following replaces the first sentence of the paragraph describing the Governance Committee under Fund Management. in Management and Organization:
Mmes. Taggart (Chairperson), Frost, Mosley, Peters and Sutherland, and Messrs. Fetting, Gorman, Park and Wennerholm are members of the Governance Committee.
c. The following replaces the first sentence of the paragraph describing the Audit Committee under Fund Management. in Management and Organization:
Messrs. Gorman (Chairperson), Park and Wennerholm and Ms. Mosley are members of the Audit Committee.
d. The following replaces the first sentence of the paragraph describing the Contract Review Committee under Fund Management. in Management and Organization:
Messrs. Wennerholm (Chairperson), Fetting, Gorman and Park and Mmes. Frost, Mosley, Peters, Sutherland and Taggart are members of the Contract Review Committee.
e. The following replaces the first sentence of the paragraph describing the Compliance Reports and Regulatory Matters Committee under Fund Management. in Management and Organization:
Mmes. Sutherland (Chairperson) and Taggart and Messrs. Gorman and Wennerholm are members of the Compliance Reports and Regulatory Matters Committee.
2. The following change was effective November 1, 2017:
The following replaces the information for Paul M. ONeil in the table under Fund Management. in Management and Organization under Principal Officers who are not Trustees:
Name and Year of Birth |
| Trust Position(s) |
| Length of Service |
| Principal Occupation(s) During Past Five Years |
RICHARD F. FROIO |
| Chief Compliance Officer |
| Since 2017 |
| Vice President of Eaton Vance and BMR since 2017. Officer of 173 registered investment companies managed by Eaton Vance or BMR. Formerly, Deputy Chief Compliance Officer (Adviser/Funds) and Chief Compliance Officer (Distribution) at PIMCO (2012-2017) and Managing Director at BlackRock/Barclays Global Investors (2009-2012). |
3. The following changes are effective immediately:
a. The following replaces the second paragraph under Additional Information About Purchases. in Purchasing and Redeeming Shares:
In connection with employer sponsored retirement plans, a Fund may accept initial investments of less than the minimum investment amount on the part of an individual participant. However, such account will be subject to the right of redemption by a Fund as described below.
b. The following replaces Class I Share Purchases. in Purchasing and Redeeming Shares:
Class I Share Purchases. Class I shares are available for purchase by clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Class I shares through a no-load network or platform. Such clients may include individuals, corporations, endowments, foundations and employer sponsored retirement plans. Class I shares may also be available through brokerage platforms of broker-dealer firms that have agreements with a Funds principal underwriter to offer Class I shares solely when acting as an agent for the investor. An investor acquiring Class I shares through such platforms may be required to pay a commission and/or other forms of compensation to the broker. Class I shares also are offered to investment and institutional clients of Eaton Vance and its affiliates; certain persons affiliated with Eaton Vance and its affiliates; current and retired members of Eaton Vance Fund Boards; employees of Eaton Vance and its affiliates and such persons spouses, parents, siblings and lineal descendants and their beneficial accounts.
c. The following replaces the second paragraph under Additional Information About Redemptions. in Purchasing and Redeeming Shares:
Due to the high cost of maintaining small accounts, the Trust reserves the right to redeem accounts with balances of less than $750. Prior to such a redemption, shareholders will be given 60 days written notice to make an additional purchase. No CDSC or redemption fees, if applicable, will be imposed with respect to such involuntary redemptions.
As disclosed in the Prospectus, the Fund typically expects to meet redemption requests by (i) distributing any cash holdings, (ii) selling portfolio investments and/or (iii) borrowing from a bank under a line of credit. In addition to the foregoing, the Fund also may distribute securities as payment (a so-called redemption in-kind), in which case the redeeming shareholder may pay fees and commissions to convert the securities to cash. Unless requested by a
shareholder, the Fund expects to limit use of redemption in-kind to stressed market conditions, but is permitted to do so in other circumstances. Any redemption in-kind would be made in accordance with policies adopted by the Fund, which allow the Fund to distribute securities pro rata or as selected by the investment adviser or sub-adviser, if applicable.
The Fund participates in a joint credit facility arrangement with other Eaton Vance funds and may borrow amounts available thereunder for temporary purposes, such as meeting redemptions. See Additional Information about Investment Strategies Borrowing for Temporary Purposes herein. The Fund also has exemptive relief to participate in an interfund lending program with other Eaton Vance funds. Such program is not operational as of the date of this SAI.
As noted above, the Fund may pay the redemption price of shares of the Fund, either totally or partially, by a distribution in kind of securities. All requests for redemptions in-kind must be in good order. Provided the redemption request is received by the Fund not later than 12:00 p.m. (Eastern Time) on the day of the redemption, the Fund may in its discretion, if requested by a redeeming shareholder, provide the redeeming shareholders with an estimate of the securities to be distributed. Any difference between the redemption value of the distributed securities and the value of the Fund shares redeemed will be settled in cash. Securities distributed in a redemption in-kind would be valued pursuant to the Funds valuation procedures and selected by the investment adviser or sub-adviser, if applicable. If a shareholder receives securities in a redemption in-kind, the shareholder could incur brokerage or other charges in converting the securities to cash and the value of such securities would be subject to price fluctuations until sold.
d. The following replaces Purchases at Net Asset Value. in Sales Charges:
Purchases at Net Asset Value. Class A shares may be sold at net asset value (without a sales charge) to clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Class A shares through a no-load network or platform; current and retired members of Eaton Vance Fund Boards; to clients (including custodial, agency, advisory and trust accounts) and current and former Directors, officers and employees of Eaton Vance, its affiliates and other investment advisers and sub-advisers of Eaton Vance sponsored funds; and to such persons spouses, parents, siblings and lineal descendants and their beneficial accounts. Such shares may also be issued at net asset value (1) in connection with the merger (or similar transaction) of an investment company (or series or class thereof) or personal holding company with the Fund (or class thereof), (2) to HSAs (Health Savings Accounts) and to employer sponsored retirement plans and trusts used to fund those plans, (3) to officers and employees of the Funds custodian and transfer agent, (4) in connection with the ReFlow liquidity program and (5) direct purchases of shares by accounts where no financial intermediary is specified. Class A shares may also be sold at net asset value to registered representatives and employees of financial intermediaries. Class A shares are also offered at NAV to shareholders who make a permitted direct transfer or roll-over to an Eaton Vance prototype IRA from an employer-sponsored retirement plan previously invested in Eaton Vance funds (applicable only to the portion previously invested in Eaton Vance funds), provided that sufficient documentation is provided to the transfer agent of such transfer or roll-over at the time of the account opening. Sales charges generally are waived because either (i) there is no sales effort involved in the sale of shares or (ii) the investor is paying a fee (other than the sales charge) to the financial intermediary involved in the sale. Any new or revised sales charge or CDSC waiver will be prospective only. A financial intermediary may not, in accordance with its policies and procedures, offer one or more of the waiver categories described above and shareholders should consult their financial intermediary for more information.
e. The following replaces CDSC Waiver. in Sales Charges:
CDSC Waiver. CDSCs will be waived in connection with redemptions from employer sponsored retirement plans or individual retirement accounts to satisfy required minimum distributions by applying the rate required to be withdrawn under the applicable rules and regulations of the IRS to the balance of shares in your account. CDSCs will also be waived in connection with returning excess contributions made to individual retirement accounts.
November 6, 2017
11.6.17
PARAMETRIC EMERGING MARKETS CORE FUND
Supplement to Statement of Additional Information (SAI) dated January 1, 2017
PARAMETRIC VOLATILITY RISK PREMIUM - DEFENSIVE FUND
Supplement to SAI dated February 2, 2017
PARAMETRIC TAX-MANAGED INTERNATIONAL EQUITY FUND
Supplement to SAI dated March 1, 2017
PARAMETRIC COMMODITY STRATEGY FUND
Supplement to SAI dated May 1, 2017
PARAMETRIC EMERGING MARKETS FUND
PARAMETRIC INTERNATIONAL EQUITY FUND
Supplement to SAI dated June 1, 2017
PARAMETRIC DIVIDEND INCOME FUND
Supplement to SAI dated July 1, 2017
1. The following changes were effective September 30, 2017:
a. Scott E. Eston resigned as a Noninterested Trustee.
b. The following replaces the first sentence of the paragraph describing the Governance Committee under Fund Management. in Management and Organization:
Mmes. Taggart (Chairperson), Frost, Mosley, Peters and Sutherland, and Messrs. Fetting, Gorman, Park and Wennerholm are members of the Governance Committee.
c. The following replaces the first sentence of the paragraph describing the Audit Committee under Fund Management. in Management and Organization:
Messrs. Gorman (Chairperson), Park and Wennerholm and Ms. Mosley are members of the Audit Committee.
d. The following replaces the first sentence of the paragraph describing the Contract Review Committee under Fund Management. in Management and Organization:
Messrs. Wennerholm (Chairperson), Fetting, Gorman and Park and Mmes. Frost, Mosley, Peters, Sutherland and Taggart are members of the Contract Review Committee.
e. The following replaces the first sentence of the paragraph describing the Compliance Reports and Regulatory Matters Committee under Fund Management. in Management and Organization:
Mmes. Sutherland (Chairperson) and Taggart and Messrs. Gorman and Wennerholm are members of the Compliance Reports and Regulatory Matters Committee.
2. The following change was effective November 1, 2017:
The following replaces the information for Paul M. ONeil in the table under Fund Management. in Management and Organization under Principal Officers who are not Trustees:
Name and Year of Birth |
| Trust Position(s) |
| Length of Service |
| Principal Occupation(s) During Past Five Years |
RICHARD F. FROIO |
| Chief Compliance Officer |
| Since 2017 |
| Vice President of Eaton Vance and BMR since 2017. Officer of 173 registered investment companies managed by Eaton Vance or BMR. Formerly, Deputy Chief Compliance Officer (Adviser/Funds) and Chief Compliance Officer (Distribution) at PIMCO (2012-2017) and Managing Director at BlackRock/Barclays Global Investors (2009-2012). |
3. The following changes are effective immediately and apply to each Fund:
a. The following replaces the second paragraph under Additional Information About Purchases. in Purchasing and Redeeming Shares:
In connection with employer sponsored retirement plans, a Fund may accept initial investments of less than the minimum investment amount on the part of an individual participant. However, such account will be subject to the right of redemption by a Fund as described below.
b. The following replaces Institutional Class Share Purchases. in Purchasing and Redeeming Shares:
Institutional Class Share Purchases. Institutional Class shares are available for purchase by clients of financial intermediaries who (i) charge such clients an ongoing fee for advisory, investment, consulting or similar services, or (ii) have entered into an agreement with the principal underwriter to offer Institutional Class shares through a no-load network or platform. Such clients may include individuals, corporations, endowments, foundations and employer sponsored retirement plans. Institutional Class shares may also be available through brokerage platforms of broker-dealer firms that have agreements with a Funds principal underwriter to offer Institutional Class shares solely when acting as an agent for the investor. An investor acquiring Institutional Class shares through such platforms may be required to pay a commission and/or other forms of compensation to the broker. Institutional Class shares also are offered to investment and institutional clients of Eaton Vance and its affiliates; certain persons affiliated with Eaton Vance and its affiliates; current and retired members of Eaton Vance Fund Boards; employees of Eaton Vance and its affiliates and such persons spouses, parents, siblings and lineal descendants and their beneficial accounts.
c. The following replaces the second paragraph under Additional Information About Redemptions. in Purchasing and Redeeming Shares:
Due to the high cost of maintaining small accounts, the Trust reserves the right to redeem accounts with balances of less than $750. Prior to such a redemption, shareholders will be given 60 days written notice to make an additional purchase. No CDSC or redemption fees, if applicable, will be imposed with respect to such involuntary redemptions.
As disclosed in the Prospectus, the Fund typically expects to meet redemption requests by (i) distributing any cash holdings, (ii) selling portfolio investments and/or (iii) borrowing from a bank under a line of credit. In addition to the foregoing, the Fund also may distribute securities as payment (a so-called redemption in-kind), in which case the redeeming shareholder may pay fees and commissions to convert the securities to cash. Unless requested by a shareholder, the Fund expects to limit use of redemption in-kind to stressed market conditions, but is permitted to do so in other circumstances. Any redemption in-kind would be made in accordance with policies adopted by the Fund, which allow the Fund to distribute securities pro rata or as selected by the investment adviser or sub-adviser, if applicable.
The Fund participates in a joint credit facility arrangement with other Eaton Vance funds and may borrow amounts available thereunder for temporary purposes, such as meeting redemptions. See Additional Information about Investment Strategies Borrowing for Temporary Purposes herein. The Fund also has exemptive relief to participate in an interfund lending program with other Eaton Vance funds. Such program is not operational as of the date of this SAI.
As noted above, the Fund may pay the redemption price of shares of the Fund, either totally or partially, by a distribution in kind of securities. All requests for redemptions in-kind must be in good order. Provided the redemption request is received by the Fund not later than 12:00 p.m. (Eastern Time) on the day of the redemption, the Fund may in its discretion, if requested by a redeeming shareholder, provide the redeeming shareholders with an estimate of the securities to be distributed. Any difference between the redemption value of the distributed securities and the value of the Fund shares redeemed will be settled in cash. Securities distributed in a redemption in-kind would be valued pursuant to the Funds valuation procedures and selected by the investment adviser or sub-adviser, if applicable. If a shareholder receives securities in a redemption in-kind, the shareholder could incur brokerage or other charges in converting the securities to cash and the value of such securities would be subject to price fluctuations until sold.
4. The following change is effective immediately and applies to Parametric Emerging Markets Fund, Parametric International Equity Fund and Parametric Tax-Managed International Equity Fund only:
The following replaces CDSC Waiver. in Sales Charges:
CDSC Waiver. CDSCs will be waived in connection with redemptions from employer sponsored retirement plans or individual retirement accounts to satisfy required minimum distributions by applying the rate required to be withdrawn under the applicable rules and regulations of the IRS to the balance of shares in your account. CDSCs will also be waived in connection with returning excess contributions made to individual retirement accounts.
November 6, 2017
11.6.17