Eaton Vance Management
Two International Place
Boston, MA 02110
(617)482-8260
www.eatonvance.com
June 25, 2018
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
Attn: Office of Filings, Information & Consumer Services
Re: | Eaton Vance Special Investment Trust (the “Registrant”) (1933 Act File No. 002-27962) on behalf of Eaton Vance Large-Cap Value Fund (the “Fund”) |
Ladies and Gentlemen:
On behalf of the Registrant and pursuant to Rule 497(e) under the Securities Act of 1933, as amended, attached for filing is an exhibit containing interactive data format risk/return summary information that mirrors the risk/return summary information in a Prospectus dated May 1, 2018 as revised June 18, 2018. The purpose of the filing is to submit the 497(e) filing dated June 18, 2018 in XBRL for the Fund.
Please contact me at (617) 672-8509 if you have any questions or comments.
Very truly yours,
/s/ Deanna R. Berry
Deanna R. Berry
Assistant Vice President
Document and Entity Information |
Total |
---|---|
Risk/Return: | |
Document Type | 497 |
Document Period End Date | Dec. 31, 2017 |
Registrant Name | EATON VANCE SPECIAL INVESTMENT TRUST |
Central Index Key | 0000031266 |
Amendment Flag | false |
Document Creation Date | Jun. 18, 2018 |
Document Effective Date | Jun. 18, 2018 |
Prospectus Date | May 01, 2018 |
Eaton Vance Large-Cap Value Fund | Class A | |
Risk/Return: | |
Trading Symbol | EHSTX |
Eaton Vance Large-Cap Value Fund | Class C | |
Risk/Return: | |
Trading Symbol | ECSTX |
Eaton Vance Large-Cap Value Fund | Class I | |
Risk/Return: | |
Trading Symbol | EILVX |
Eaton Vance Large-Cap Value Fund | Class R | |
Risk/Return: | |
Trading Symbol | ERSTX |
Eaton Vance Large-Cap Value Fund | Class R6 | |
Risk/Return: | |
Trading Symbol | ERLVX |
Eaton Vance Large-Cap Value Fund | |||||||||||||||||||||||||||||||||||||||||||||
Investment Objective | |||||||||||||||||||||||||||||||||||||||||||||
The Fund’s investment objective is to seek total return. | |||||||||||||||||||||||||||||||||||||||||||||
Fees and Expenses of the Fund | |||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Investors may also pay commissions or other fees to their financial intermediary when they buy and hold shares of the Fund, which are not reflected below. You may qualify for a reduced sales charge on purchases of Class A shares if you invest, or agree to invest over a 13-month period, at least $50,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A – Financial Intermediary Sales Charge Variations in this Prospectus. More information about these and other discounts is available from your financial intermediary and in Sales Charges beginning on page 45 of this Prospectus and page 24 of the Fund’s Statement of Additional Information. | |||||||||||||||||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) | |||||||||||||||||||||||||||||||||||||||||||||
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Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||||||||||||||||||||||
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Example. | |||||||||||||||||||||||||||||||||||||||||||||
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, that the operating expenses remain the same and that any reimbursement arrangement remains in place for the contractual period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||||||||||||||||||||||||||||||
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Portfolio Turnover | |||||||||||||||||||||||||||||||||||||||||||||
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, Large-Cap Value Portfolio’s (the “Portfolio”), the Fund’s former master portfolio, portfolio turnover rate was 105% of the average value of its portfolio. | |||||||||||||||||||||||||||||||||||||||||||||
Principal Investment Strategies | |||||||||||||||||||||||||||||||||||||||||||||
Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of large-cap companies (the “80% Policy”). The portfolio managers generally consider large-cap companies to be those companies having market capitalizations within the range of companies included in the Russell 1000® Value Index, although the portfolio will generally consist of stocks with a market capitalization equal to or greater than the median market capitalization of companies included in such index. As of December 31, 2017, the range of companies in the Russell 1000® Value Index was $654 million to $489.1 billion and the median market capitalization was $9.7 billion. Under normal market conditions, the Fund invests primarily in value stocks. Value stocks are common stocks that, in the opinion of the investment adviser, are inexpensive or undervalued relative to the overall stock market. The Fund primarily invests in dividend-paying stocks, but also may invest in non-income producing stocks. The Fund may invest in convertible debt securities of any credit quality (including securities rated below investment grade (so-called “junk”)). The Fund may invest up to 25% of its total assets in foreign securities, some of which may be issued by companies domiciled in emerging market countries. As an alternative to holding foreign stocks directly, the Fund may invest in U.S. dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including depositary receipts that evidence ownership in underlying foreign stocks). The Fund may invest in exchange-traded funds (“ETFs”), a type of pooled investment vehicle, in order to manage cash positions or seek exposure to certain markets or market sectors. The Fund may also invest in publicly traded real estate investment trusts (“REITs”) and may lend its securities. Investment decisions are made primarily on the basis of fundamental research. The portfolio managers utilize information provided by, and the expertise of, the investment adviser’s research staff in making investment decisions. In selecting stocks, the portfolio managers consider (among other factors) a company’s earnings or cash flow capabilities, dividend prospects, financial strength, growth potential, the strength of the company’s business franchises and management team, sustainability of a company’s competitiveness, and estimates of the company’s net value. The portfolio managers may sell a security when the investment adviser’s price objective for the security is reached, the fundamentals of the company deteriorate, a security’s price falls below acquisition cost or to pursue more attractive investment options. The portfolio managers seek to manage investment risk by maintaining broad issuer and industry diversification among the Fund’s holdings, and by conducting an analysis of the risk and return characteristics of securities (as described above) in which the Fund invests. | |||||||||||||||||||||||||||||||||||||||||||||
Principal Risks | |||||||||||||||||||||||||||||||||||||||||||||
Market Risk. The value of investments held by the Fund may increase or decrease in response to economic, political and financial events (whether real, expected or perceived) in the U.S. and global markets. The frequency and magnitude of such changes in value cannot be predicted. Certain securities and other investments held by the Fund may experience increased volatility, illiquidity, or other potentially adverse effects in reaction to changing market conditions. Actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, such as decreases or increases in short-term interest rates, could cause high volatility in markets. Equity Securities Risk. The value of equity securities and related instruments may decline in response to adverse changes in the economy or the economic outlook; deterioration in investor sentiment; interest rate, currency, and commodity price fluctuations; adverse geopolitical, social or environmental developments; issuer and sector-specific considerations; or other factors. Market conditions may affect certain types of stocks to a greater extent than other types of stocks. If the stock market declines in value, the value of the Fund’s equity securities will also likely decline. Although prices can rebound, there is no assurance that values will return to previous levels. Large-Cap Value Risk. Because the Fund normally invests primarily in value stocks of large-cap companies, it is subject to the risk of underperforming the overall stock market during periods in which stocks of such companies are out of favor and generate lower returns than the market as a whole. Convertible Securities Risk. Convertible securities generally possess characteristics common to both equity and debt securities. In addition to risks associated with investing in income securities, such as interest rate and credit risks, convertible securities may be subject to issuer-specific and market risks generally applicable to equity securities. Convertible securities may also react to changes in the value of the common stock into which they convert, and are thus subject to equity investing and market risks. A convertible security may be converted at an inopportune time, which may decrease the Fund’s return. Foreign Investment Risk. Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States, and as a result, Fund share values may be more volatile. Trading in foreign 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. Depositary receipts are subject to many of the risks associated with investing directly in foreign instruments. Emerging Markets Investment Risk. Investment markets in emerging market countries are typically smaller, less liquid and more volatile than developed markets, and emerging market securities often involve greater risks than developed market securities. Currency Risk. Exchange rates for currencies fluctuate daily. The value of foreign investments may be affected favorably or unfavorably by changes in currency exchange rates in relation to the U.S. dollar. Currency markets generally are not as regulated as securities markets and currency transactions are subject to settlement, custodial and other operational risks. Lower Rated Investments Risk. Investments rated below investment grade and comparable unrated investments (sometimes referred to as “junk”) have speculative characteristics because of the credit risk associated with their issuers. Changes in economic conditions or other circumstances typically have a greater effect on the ability of issuers of lower rated investments to make principal and interest payments than they do on issuers of higher rated investments. An economic downturn generally leads to a higher non-payment rate, and a lower rated investment may lose significant value before a default occurs. Lower rated investments typically are subject to greater price volatility and illiquidity than higher rated investments. ETF Risk. ETFs are subject to the risks of investing in the underlying securities or other investments. ETF shares may trade at a premium or discount to net asset value and are subject to secondary market trading risks. In addition, the Fund will bear a pro rata portion of the operating expenses of an ETF in which it invests. Other pooled investment vehicles generally are subject to risks similar to those of ETFs. Real Estate Risk. Real estate investments are subject to risks associated with owning real estate, including declines in real estate values, increases in property taxes, fluctuations in interest rates, limited availability of mortgage financing, decreases in revenues from underlying real estate assets, declines in occupancy rates, changes in government regulations affecting zoning, land use, and rents, environmental liabilities, and risks related to 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. REITs must satisfy specific requirements for favorable tax treatment and can involve unique risks in addition to the risks generally affecting the real estate industry. The Fund is not eligible for a deduction from dividends received from REITs that is available to individuals who invest directly in REITs. Changes in underlying real estate values may have an exaggerated effect to the extent that investments are concentrated in particular geographic regions or property types. Securities Lending Risk. Securities lending involves a possible delay in recovery of the loaned securities or a possible loss of rights in the collateral if the borrower fails financially. The Fund could also lose money if the value of the collateral decreases. Portfolio Turnover Risk. The annual portfolio turnover rate of the Fund may exceed 100%. A mutual fund with a high turnover rate (100% or more) may generate more capital gains and may involve greater expenses (which may reduce return) than a fund with a lower rate. Capital gains distributions will be made to shareholders if offsetting capital loss carry forwards do not exist. Risks Associated with Active Management. The success of the Fund’s investment strategy depends on portfolio management’s successful application of analytical skills and investment judgment. Active management involves subjective decisions. General Fund Investing Risks. The Fund is not a complete investment program and there is no guarantee that the Fund will achieve its investment objective. It is possible to lose money by investing in the Fund. The Fund is designed to be a long-term investment vehicle and is not suited for short-term trading. Investors in the Fund should have a long-term investment perspective and be able to tolerate potentially sharp declines in value. Purchase and redemption activities by Fund shareholders may impact the management of the Fund and its ability to achieve its investment objective(s). 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. 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. | |||||||||||||||||||||||||||||||||||||||||||||
Performance | |||||||||||||||||||||||||||||||||||||||||||||
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 A shares and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower. Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated Fund performance information can be obtained by visiting www.eatonvance.com. | |||||||||||||||||||||||||||||||||||||||||||||
For the ten years ended December 31, 2017, the highest quarterly total return for Class A was 15.09% for the quarter ended September 30, 2009, and the lowest quarterly return was -21.37% for the quarter ended December 31, 2008. | |||||||||||||||||||||||||||||||||||||||||||||
Average Annual Total Return as of December 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||
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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 R6 performance shown above for the period prior to July 1, 2014 (commencement of operations) is the performance of Class I shares at net asset value without adjustment for any differences in the expenses of the two classes. If adjusted for such differences, returns would be different. Investors cannot invest directly in an Index. 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 A 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. |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Central Index Key | dei_EntityCentralIndexKey | 0000031266 |
Eaton Vance Large-Cap Value Fund | ||
Risk/Return: | rr_RiskReturnAbstract | |
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective |
Investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Fund’s investment objective is to seek total return. |
Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund |
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Investors may also pay commissions or other fees to their financial intermediary when they buy and hold shares of the Fund, which are not reflected below. You may qualify for a reduced sales charge on purchases of Class A shares if you invest, or agree to invest over a 13-month period, at least $50,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A – Financial Intermediary Sales Charge Variations in this Prospectus. More information about these and other discounts is available from your financial intermediary and in Sales Charges beginning on page 45 of this Prospectus and page 24 of the Fund’s Statement of Additional Information. |
Shareholder Fees, Caption | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
Operating Expenses, Caption | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment) |
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover |
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | 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, Large-Cap Value Portfolio’s (the “Portfolio”), the Fund’s former master portfolio, portfolio turnover rate was 105% of the average value of its portfolio. |
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 105.00% |
Expense Breakpoint, Discounts | rr_ExpenseBreakpointDiscounts | You may qualify for a reduced sales charge on purchases of Class A shares if you invest, or agree to invest over a 13-month period, at least $50,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A – Financial Intermediary Sales Charge Variations in this Prospectus. More information about these and other discounts is available from your financial intermediary and in Sales Charges beginning on page 45 of this Prospectus and page 24 of the Fund’s Statement of Additional Information. |
Expense Breakpoint, Minimum Investment Required Amount | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 |
Expense Example, Heading | rr_ExpenseExampleHeading | Example. |
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | 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, that the operating expenses remain the same and that any reimbursement arrangement remains in place for the contractual period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies |
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of large-cap companies (the “80% Policy”). The portfolio managers generally consider large-cap companies to be those companies having market capitalizations within the range of companies included in the Russell 1000® Value Index, although the portfolio will generally consist of stocks with a market capitalization equal to or greater than the median market capitalization of companies included in such index. As of December 31, 2017, the range of companies in the Russell 1000® Value Index was $654 million to $489.1 billion and the median market capitalization was $9.7 billion. Under normal market conditions, the Fund invests primarily in value stocks. Value stocks are common stocks that, in the opinion of the investment adviser, are inexpensive or undervalued relative to the overall stock market. The Fund primarily invests in dividend-paying stocks, but also may invest in non-income producing stocks. The Fund may invest in convertible debt securities of any credit quality (including securities rated below investment grade (so-called “junk”)). The Fund may invest up to 25% of its total assets in foreign securities, some of which may be issued by companies domiciled in emerging market countries. As an alternative to holding foreign stocks directly, the Fund may invest in U.S. dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including depositary receipts that evidence ownership in underlying foreign stocks). The Fund may invest in exchange-traded funds (“ETFs”), a type of pooled investment vehicle, in order to manage cash positions or seek exposure to certain markets or market sectors. The Fund may also invest in publicly traded real estate investment trusts (“REITs”) and may lend its securities. Investment decisions are made primarily on the basis of fundamental research. The portfolio managers utilize information provided by, and the expertise of, the investment adviser’s research staff in making investment decisions. In selecting stocks, the portfolio managers consider (among other factors) a company’s earnings or cash flow capabilities, dividend prospects, financial strength, growth potential, the strength of the company’s business franchises and management team, sustainability of a company’s competitiveness, and estimates of the company’s net value. The portfolio managers may sell a security when the investment adviser’s price objective for the security is reached, the fundamentals of the company deteriorate, a security’s price falls below acquisition cost or to pursue more attractive investment options. The portfolio managers seek to manage investment risk by maintaining broad issuer and industry diversification among the Fund’s holdings, and by conducting an analysis of the risk and return characteristics of securities (as described above) in which the Fund invests. |
Strategy Portfolio Concentration | rr_StrategyPortfolioConcentration | Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of large-cap companies (the “80% Policy”). The portfolio managers generally consider large-cap companies to be those companies having market capitalizations within the range of companies included in the Russell 1000® Value Index, although the portfolio will generally consist of stocks with a market capitalization equal to or greater than the median market capitalization of companies included in such index. As of December 31, 2017, the range of companies in the Russell 1000® Value Index was $654 million to $489.1 billion and the median market capitalization was $9.7 billion. Under normal market conditions, the Fund invests primarily in value stocks. Value stocks are common stocks that, in the opinion of the investment adviser, are inexpensive or undervalued relative to the overall stock market. The Fund primarily invests in dividend-paying stocks, but also may invest in non-income producing stocks. The Fund may invest in convertible debt securities of any credit quality (including securities rated below investment grade (so-called “junk”)). The Fund may invest up to 25% of its total assets in foreign securities, some of which may be issued by companies domiciled in emerging market countries. As an alternative to holding foreign stocks directly, the Fund may invest in U.S. dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including depositary receipts that evidence ownership in underlying foreign stocks). The Fund may invest in exchange-traded funds (“ETFs”), a type of pooled investment vehicle, in order to manage cash positions or seek exposure to certain markets or market sectors. The Fund may also invest in publicly traded real estate investment trusts (“REITs”) and may lend its securities. |
Risk, Heading | rr_RiskHeading | Principal Risks |
Risk, Narrative | rr_RiskNarrativeTextBlock | Market Risk. The value of investments held by the Fund may increase or decrease in response to economic, political and financial events (whether real, expected or perceived) in the U.S. and global markets. The frequency and magnitude of such changes in value cannot be predicted. Certain securities and other investments held by the Fund may experience increased volatility, illiquidity, or other potentially adverse effects in reaction to changing market conditions. Actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, such as decreases or increases in short-term interest rates, could cause high volatility in markets. Equity Securities Risk. The value of equity securities and related instruments may decline in response to adverse changes in the economy or the economic outlook; deterioration in investor sentiment; interest rate, currency, and commodity price fluctuations; adverse geopolitical, social or environmental developments; issuer and sector-specific considerations; or other factors. Market conditions may affect certain types of stocks to a greater extent than other types of stocks. If the stock market declines in value, the value of the Fund’s equity securities will also likely decline. Although prices can rebound, there is no assurance that values will return to previous levels. Large-Cap Value Risk. Because the Fund normally invests primarily in value stocks of large-cap companies, it is subject to the risk of underperforming the overall stock market during periods in which stocks of such companies are out of favor and generate lower returns than the market as a whole. Convertible Securities Risk. Convertible securities generally possess characteristics common to both equity and debt securities. In addition to risks associated with investing in income securities, such as interest rate and credit risks, convertible securities may be subject to issuer-specific and market risks generally applicable to equity securities. Convertible securities may also react to changes in the value of the common stock into which they convert, and are thus subject to equity investing and market risks. A convertible security may be converted at an inopportune time, which may decrease the Fund’s return. Foreign Investment Risk. Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States, and as a result, Fund share values may be more volatile. Trading in foreign 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. Depositary receipts are subject to many of the risks associated with investing directly in foreign instruments. Emerging Markets Investment Risk. Investment markets in emerging market countries are typically smaller, less liquid and more volatile than developed markets, and emerging market securities often involve greater risks than developed market securities. Currency Risk. Exchange rates for currencies fluctuate daily. The value of foreign investments may be affected favorably or unfavorably by changes in currency exchange rates in relation to the U.S. dollar. Currency markets generally are not as regulated as securities markets and currency transactions are subject to settlement, custodial and other operational risks. Lower Rated Investments Risk. Investments rated below investment grade and comparable unrated investments (sometimes referred to as “junk”) have speculative characteristics because of the credit risk associated with their issuers. Changes in economic conditions or other circumstances typically have a greater effect on the ability of issuers of lower rated investments to make principal and interest payments than they do on issuers of higher rated investments. An economic downturn generally leads to a higher non-payment rate, and a lower rated investment may lose significant value before a default occurs. Lower rated investments typically are subject to greater price volatility and illiquidity than higher rated investments. ETF Risk. ETFs are subject to the risks of investing in the underlying securities or other investments. ETF shares may trade at a premium or discount to net asset value and are subject to secondary market trading risks. In addition, the Fund will bear a pro rata portion of the operating expenses of an ETF in which it invests. Other pooled investment vehicles generally are subject to risks similar to those of ETFs. Real Estate Risk. Real estate investments are subject to risks associated with owning real estate, including declines in real estate values, increases in property taxes, fluctuations in interest rates, limited availability of mortgage financing, decreases in revenues from underlying real estate assets, declines in occupancy rates, changes in government regulations affecting zoning, land use, and rents, environmental liabilities, and risks related to 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. REITs must satisfy specific requirements for favorable tax treatment and can involve unique risks in addition to the risks generally affecting the real estate industry. The Fund is not eligible for a deduction from dividends received from REITs that is available to individuals who invest directly in REITs. Changes in underlying real estate values may have an exaggerated effect to the extent that investments are concentrated in particular geographic regions or property types. Securities Lending Risk. Securities lending involves a possible delay in recovery of the loaned securities or a possible loss of rights in the collateral if the borrower fails financially. The Fund could also lose money if the value of the collateral decreases. Portfolio Turnover Risk. The annual portfolio turnover rate of the Fund may exceed 100%. A mutual fund with a high turnover rate (100% or more) may generate more capital gains and may involve greater expenses (which may reduce return) than a fund with a lower rate. Capital gains distributions will be made to shareholders if offsetting capital loss carry forwards do not exist. Risks Associated with Active Management. The success of the Fund’s investment strategy depends on portfolio management’s successful application of analytical skills and investment judgment. Active management involves subjective decisions. General Fund Investing Risks. The Fund is not a complete investment program and there is no guarantee that the Fund will achieve its investment objective. It is possible to lose money by investing in the Fund. The Fund is designed to be a long-term investment vehicle and is not suited for short-term trading. Investors in the Fund should have a long-term investment perspective and be able to tolerate potentially sharp declines in value. Purchase and redemption activities by Fund shareholders may impact the management of the Fund and its ability to achieve its investment objective(s). 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. 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. |
Risk, Lose Money | rr_RiskLoseMoney | The Fund is not a complete investment program and there is no guarantee that the Fund will achieve its investment objective. It is possible to lose money by investing in the Fund. |
Risk, Not Insured Depository Institution | rr_RiskNotInsuredDepositoryInstitution | 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. |
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance |
Performance, Narrative | rr_PerformanceNarrativeTextBlock | 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 A shares and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower. Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated Fund performance information can be obtained by visiting www.eatonvance.com. |
Performance, Information Illustrates Variability of Returns | rr_PerformanceInformationIllustratesVariabilityOfReturns | 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. |
Performance Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.eatonvance.com |
Performance Past Does Not Indicate Future | rr_PerformancePastDoesNotIndicateFuture | Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future. |
Bar Chart Does Not Reflect Sales Loads | rr_BarChartDoesNotReflectSalesLoads | The returns in the bar chart are for Class A shares and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower. |
Bar Chart, Closing | rr_BarChartClosingTextBlock | For the ten years ended December 31, 2017, the highest quarterly total return for Class A was 15.09% for the quarter ended September 30, 2009, and the lowest quarterly return was -21.37% for the quarter ended December 31, 2008. |
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | For the ten years ended December 31, 2017, the highest quarterly total return for Class A was |
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2009 |
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 15.09% |
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | and the lowest quarterly return was |
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 |
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (21.37%) |
Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Return as of December 31, 2017 |
Performance Table Does Reflect Sales Loads | rr_PerformanceTableDoesReflectSalesLoads | These returns reflect the maximum sales charge for Class A (5.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. |
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | 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. |
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities. |
Performance Table One Class of after Tax Shown | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares. |
Performance Table Explanation after Tax Higher | rr_PerformanceTableExplanationAfterTaxHigher | 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. |
Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] | rr_PerformanceTableFootnotesReasonPerformanceInformationForClassDifferentFromImmediatelyPrecedingPeriod | The Class R6 performance shown above for the period prior to July 1, 2014 (commencement of operations) is the performance of Class I shares at net asset value without adjustment for any differences in the expenses of the two classes. If adjusted for such differences, returns would be different. |
Performance Table, Closing | rr_PerformanceTableClosingTextBlock | 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 R6 performance shown above for the period prior to July 1, 2014 (commencement of operations) is the performance of Class I shares at net asset value without adjustment for any differences in the expenses of the two classes. If adjusted for such differences, returns would be different. Investors cannot invest directly in an Index. 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 A 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. |
Eaton Vance Large-Cap Value Fund | Russell 1000® Value Index | ||
Risk/Return: | rr_RiskReturnAbstract | |
Index No Deduction for Fees, Expenses, Taxes | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deductions for fees, expenses or taxes) |
One Year | rr_AverageAnnualReturnYear01 | 13.66% |
Five Years | rr_AverageAnnualReturnYear05 | 14.03% |
Ten Years | rr_AverageAnnualReturnYear10 | 7.10% |
Eaton Vance Large-Cap Value Fund | Class A | ||
Risk/Return: | rr_RiskReturnAbstract | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 5.75% |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none |
Management Fees | rr_ManagementFeesOverAssets | 0.62% |
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% |
Other Expenses | rr_OtherExpensesOverAssets | 0.19% |
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.06% |
1 Year | rr_ExpenseExampleYear01 | $ 677 |
3 Years | rr_ExpenseExampleYear03 | 893 |
5 Years | rr_ExpenseExampleYear05 | 1,126 |
10 Years | rr_ExpenseExampleYear10 | 1,795 |
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 677 |
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 893 |
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 1,126 |
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,795 |
Annual Return 2008 | rr_AnnualReturn2008 | (34.47%) |
Annual Return 2009 | rr_AnnualReturn2009 | 17.01% |
Annual Return 2010 | rr_AnnualReturn2010 | 10.05% |
Annual Return 2011 | rr_AnnualReturn2011 | (4.48%) |
Annual Return 2012 | rr_AnnualReturn2012 | 15.77% |
Annual Return 2013 | rr_AnnualReturn2013 | 29.34% |
Annual Return 2014 | rr_AnnualReturn2014 | 10.96% |
Annual Return 2015 | rr_AnnualReturn2015 | (1.08%) |
Annual Return 2016 | rr_AnnualReturn2016 | 9.56% |
Annual Return 2017 | rr_AnnualReturn2017 | 14.80% |
One Year | rr_AverageAnnualReturnYear01 | 8.20% |
Five Years | rr_AverageAnnualReturnYear05 | 10.97% |
Ten Years | rr_AverageAnnualReturnYear10 | 4.62% |
Eaton Vance Large-Cap Value Fund | Class A | After Taxes on Distributions | ||
Risk/Return: | rr_RiskReturnAbstract | |
One Year | rr_AverageAnnualReturnYear01 | 6.73% |
Five Years | rr_AverageAnnualReturnYear05 | 8.17% |
Ten Years | rr_AverageAnnualReturnYear10 | 3.18% |
Eaton Vance Large-Cap Value Fund | Class A | After Taxes on Distributions and Sales | ||
Risk/Return: | rr_RiskReturnAbstract | |
One Year | rr_AverageAnnualReturnYear01 | 5.81% |
Five Years | rr_AverageAnnualReturnYear05 | 8.26% |
Ten Years | rr_AverageAnnualReturnYear10 | 3.44% |
Eaton Vance Large-Cap Value Fund | Class C | ||
Risk/Return: | rr_RiskReturnAbstract | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% |
Management Fees | rr_ManagementFeesOverAssets | 0.62% |
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% |
Other Expenses | rr_OtherExpensesOverAssets | 0.19% |
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.81% |
1 Year | rr_ExpenseExampleYear01 | $ 284 |
3 Years | rr_ExpenseExampleYear03 | 569 |
5 Years | rr_ExpenseExampleYear05 | 980 |
10 Years | rr_ExpenseExampleYear10 | 2,127 |
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 184 |
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 569 |
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 980 |
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 2,127 |
One Year | rr_AverageAnnualReturnYear01 | 12.96% |
Five Years | rr_AverageAnnualReturnYear05 | 11.45% |
Ten Years | rr_AverageAnnualReturnYear10 | 4.45% |
Eaton Vance Large-Cap Value Fund | Class I | ||
Risk/Return: | rr_RiskReturnAbstract | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none |
Management Fees | rr_ManagementFeesOverAssets | 0.62% |
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none |
Other Expenses | rr_OtherExpensesOverAssets | 0.19% |
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.81% |
1 Year | rr_ExpenseExampleYear01 | $ 83 |
3 Years | rr_ExpenseExampleYear03 | 259 |
5 Years | rr_ExpenseExampleYear05 | 450 |
10 Years | rr_ExpenseExampleYear10 | 1,002 |
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 83 |
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 259 |
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 450 |
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,002 |
One Year | rr_AverageAnnualReturnYear01 | 15.10% |
Five Years | rr_AverageAnnualReturnYear05 | 12.56% |
Ten Years | rr_AverageAnnualReturnYear10 | 5.51% |
Eaton Vance Large-Cap Value Fund | Class R | ||
Risk/Return: | rr_RiskReturnAbstract | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none |
Management Fees | rr_ManagementFeesOverAssets | 0.62% |
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.50% |
Other Expenses | rr_OtherExpensesOverAssets | 0.19% |
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.31% |
1 Year | rr_ExpenseExampleYear01 | $ 133 |
3 Years | rr_ExpenseExampleYear03 | 415 |
5 Years | rr_ExpenseExampleYear05 | 718 |
10 Years | rr_ExpenseExampleYear10 | 1,579 |
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 133 |
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 415 |
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 718 |
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,579 |
One Year | rr_AverageAnnualReturnYear01 | 14.50% |
Five Years | rr_AverageAnnualReturnYear05 | 12.00% |
Ten Years | rr_AverageAnnualReturnYear10 | 4.97% |
Eaton Vance Large-Cap Value Fund | Class R6 | ||
Risk/Return: | rr_RiskReturnAbstract | |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none |
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none |
Management Fees | rr_ManagementFeesOverAssets | 0.62% |
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none |
Other Expenses | rr_OtherExpensesOverAssets | 0.11% |
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.73% |
1 Year | rr_ExpenseExampleYear01 | $ 75 |
3 Years | rr_ExpenseExampleYear03 | 233 |
5 Years | rr_ExpenseExampleYear05 | 406 |
10 Years | rr_ExpenseExampleYear10 | 906 |
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 75 |
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 233 |
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 406 |
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 906 |
One Year | rr_AverageAnnualReturnYear01 | 15.25% |
Five Years | rr_AverageAnnualReturnYear05 | 12.64% |
Ten Years | rr_AverageAnnualReturnYear10 | 5.54% |
Inception Date | rr_AverageAnnualReturnInceptionDate | Jul. 01, 2014 |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 497 |
Document Period End Date | dei_DocumentPeriodEndDate | Dec. 31, 2017 |
Registrant Name | dei_EntityRegistrantName | EATON VANCE SPECIAL INVESTMENT TRUST |
Central Index Key | dei_EntityCentralIndexKey | 0000031266 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Jun. 18, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Jun. 18, 2018 |
Prospectus Date | rr_ProspectusDate | May 01, 2018 |
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