0000940394-18-001190.txt : 20180612 0000940394-18-001190.hdr.sgml : 20180612 20180612122747 ACCESSION NUMBER: 0000940394-18-001190 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 31 FILED AS OF DATE: 20180612 DATE AS OF CHANGE: 20180612 EFFECTIVENESS DATE: 20180612 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EATON VANCE MUNICIPALS TRUST II CENTRAL INDEX KEY: 0000914529 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-71320 FILM NUMBER: 18894004 BUSINESS ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 617-482-8260 MAIL ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EATON VANCE MUNICIPALS TRUST II CENTRAL INDEX KEY: 0000914529 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-08134 FILM NUMBER: 18894003 BUSINESS ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 617-482-8260 MAIL ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 0000914529 S000004834 Eaton Vance High Yield Municipal Income Fund C000013069 Eaton Vance High Yield Municipal Income Fund Class A ETHYX C000013070 Eaton Vance High Yield Municipal Income Fund Class B EVHYX C000013071 Eaton Vance High Yield Municipal Income Fund Class C ECHYX C000048637 Eaton Vance High Yield Municipal Income Fund Class I EIHYX 0000914529 S000024906 Eaton Vance TABS Short-Term Municipal Bond Fund C000074079 Eaton Vance TABS Short-Term Municipal Bond Fund Class A EABSX C000074080 Eaton Vance TABS Short-Term Municipal Bond Fund Class C ECBSX C000074081 Eaton Vance TABS Short-Term Municipal Bond Fund Class I EIBSX 0000914529 S000027033 Eaton Vance TABS Intermediate-Term Municipal Bond Fund C000081345 Eaton Vance TABS Intermediate-Term Municipal Bond Fund Class A EITAX C000081346 Eaton Vance TABS Intermediate-Term Municipal Bond Fund Class C EITCX C000081347 Eaton Vance TABS Intermediate-Term Municipal Bond Fund Class I ETIIX 0000914529 S000027034 Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund C000081348 Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class A EALTX C000081349 Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class C ECLTX C000081350 Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class I EILTX 0000914529 S000049164 Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund C000154967 Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund Class A EALBX C000154968 Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund Class C ECLBX C000154969 Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund Class I EILBX 0000914529 S000049165 Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund C000154970 Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund Class A EATTX C000154971 Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund Class C ECTTX C000154972 Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund Class I EITTX 485BPOS 1 mtiixbrlpartc.htm MTII PEA # 56-57 XBRL DTD 6-12-2018

As filed with the Securities and Exchange Commission on June 12, 2018

1933 Act File No. 033-71320

1940 Act File No. 811-08134

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM N-1A
 
  REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT of 1933
o
  POST-EFFECTIVE AMENDMENT NO. 56 x
  REGISTRATION STATEMENT
UNDER
THE INVESTMENT COMPANY ACT OF 1940
o
  AMENDMENT NO. 57 x
 
EATON VANCE MUNICIPALS TRUST II
(Exact Name of Registrant as Specified in Charter)
 
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
 
(617) 482-8260
(Registrant’s Telephone Number)
 
MAUREEN A. GEMMA
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Service)

It is proposed that this filing will become effective pursuant to Rule 485 (check appropriate box):
x immediately upon filing pursuant to paragraph (b) o on (date) pursuant to paragraph (a)(1)
o on (date) pursuant to paragraph (b) o 75 days after filing pursuant to paragraph (a)(2)
o 60 days after filing pursuant to paragraph (a)(1) o on (date) pursuant to paragraph (a)(2)
If appropriate, check the following box:
o This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 
 

 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Post-Effective Amendment to the Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Post-Effective Amendment to its Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Boston, and the Commonwealth of Massachusetts, on June 12, 2018.

 

EATON VANCE MUNICIPALS TRUST II

 

By: /s/ Payson F. Swaffield

Payson F. Swaffield, President

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities indicated on June 12, 2018.

Signature Title
   
/s/ Payson F. Swaffield President (Chief Executive Officer)
Payson F. Swaffield  
   
/s/ James F. Kirchner Treasurer (Principal Financial and Accounting Officer)
James F. Kirchner  
   
Signature Title Signature Title
       
Thomas E. Faust Jr.* Trustee William H. Park* Trustee
Thomas E. Faust Jr.   William H. Park  
       
Mark R. Fetting* Trustee Helen Frame Peters* Trustee
Mark R. Fetting   Helen Frame Peters  
       
Cynthia E. Frost* Trustee Susan J. Sutherland* Trustee
Cynthia E. Frost   Susan J. Sutherland  
       
George J. Gorman* Trustee Harriett Tee Taggart* Trustee
George J. Gorman   Harriett Tee Taggart  
       
Valerie A. Mosley* Trustee Scott E. Wennerholm* Trustee
Valerie A. Mosley   Scott E. Wennerholm  
       
       
*By: /s/ Maureen A. Gemma  
  Maureen A. Gemma (As attorney-in-fact)  
           

* Pursuant to a Power of Attorney dated October 17, 2017 filed as Exhibit (q) to the Registrant’s Post-Effective Amendment No. 55 filed May 30, 2018 (Accession No. 0000940394-18-001087) and incorporated herein by reference.

 
 

 

EXHIBIT INDEX

Exhibit No.   Description
EX-101.INS   XBRL Instance Document
EX-101.SCH   XBRL Taxonomy Extension Schema Document
EX-101.CAL   XBRL Taxonomy Calculation Linkbase
EX-101.DEF   XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB   XBRL Taxonomy Extension Labels Linkbase
Ex-101.PRE   XBRL Taxonomy Extension Presentation Linkbase

 

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-0.0024 -0.0142 -0.0142 -0.0142 -0.0005 -0.0005 -0.0005 0.54 0.62 0.19 0.53 0.35 0.21 <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). In seeking the Fund&#8217;s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&#38;P Global Ratings (&#8220;S&#38;P&#8221;), Fitch Ratings (&#8220;Fitch&#8221;) or Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&#38;P, Fitch or Moody&#8217;s or, if unrated, determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (&#8220;junk bonds&#8221;)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund&#8217;s investment adviser believes is subject to the federal alternative minimum tax.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of municipal obligations the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). In seeking the Fund&#8217;s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&#38;P Global Ratings (&#8220;S&#38;P&#8221;), Fitch Ratings (&#8220;Fitch&#8221;) or Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&#38;P, Fitch or Moody&#8217;s or, if unrated determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (&#8220;junk bonds&#8221;)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund&#8217;s investment adviser believes is subject to the federal alternative minimum tax.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between one and ten years, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). For the purposes of the Fund&#8217;s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund&#8217;s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or higher by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (&#8220;junk bonds&#8221;). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between ten and twenty years, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). For the purposes of the Fund&#8217;s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund&#8217;s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or higher by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (&#8220;junk bonds&#8221;). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). For the purposes of the Fund&#8217;s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligations, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund&#8217;s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or higher by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (&#8220;junk bonds&#8221;). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under normal market circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations (including notes and tax-exempt commercial paper) issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). The Fund may invest without limit in obligations the income from which is subject to the federal alternative minimum tax. The Fund will primarily invest in &#8220;high yield&#8221; municipal obligations under normal market conditions. For this purpose, &#8220;high yield&#8221; municipal obligations are municipal obligations rated at the time of investment either Baa or lower by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or lower by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;) or, if unrated, determined by the investment adviser to be of comparable quality. &#8220;High yield&#8221; municipal obligations rated below investment grade are also known as &#8220;junk bonds.&#8221; The Fund may invest in securities in any rating category, including those in default. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the lowest rating will be used for any Fund rating restrictions. The Fund may also invest a portion of its assets in municipal obligations that are not paying current income in anticipation of possible future income. The Fund may invest up to 20% of its net assets in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities. The Fund may purchase or sell derivative instruments (such as residual interest bonds, futures contracts and options thereon, interest rate swaps, and forward rate contracts) for hedging purposes, to seek total return or as a substitute for the purchase or sale of securities. There is no stated limit on the Fund&#8217;s use of derivatives.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of a broad-based securities market index.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of a broad-based securities market index.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.eatonvance.com</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.eatonvance.com</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.eatonvance.com</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.eatonvance.com</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.eatonvance.com</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.eatonvance.com</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Past performance (both before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The returns in the bar chart for periods after March 27, 2009 are for Class A shares of the Fund and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was</font></p> 2018-03-31 2018-03-31 2018-03-31 2018-03-31 2018-03-31 2018-03-31 -0.0099 -0.0171 -0.0101 -0.0171 -0.0184 -0.0094 <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">For the ten years ended December 31, 2017, the highest quarterly total return for the Fund or Predecessor Account was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">For the ten years ended December 31, 2017, the highest quarterly total return for Class A was</font></p> 2008-12-31 2011-06-30 2016-06-30 2016-06-30 2014-03-31 2009-09-30 0.0503 0.0375 0.0146 0.0408 0.0514 0.1676 <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">and the lowest quarterly return for the Fund or Predecessor Account was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">and the lowest quarterly return was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">and the lowest quarterly return was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">and the lowest quarterly return was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">and the lowest quarterly return was</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">and the lowest quarterly return was</font></p> 2016-12-31 2016-12-31 2016-12-31 2016-12-31 2013-06-30 2008-12-31 -0.0236 -0.0407 -0.0289 -0.0541 -0.0510 -0.2780 <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class B and Class C.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-Tax Return is calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the actual characterization of distributions, and may differ from those shown.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the actual characterization of distributions, and may differ from those shown.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the actual characterization of distributions, and may differ from those shown.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the actual characterization of distributions, and may differ from those shown.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the actual characterization of distributions, and may differ from those shown.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are calculated using the highest historical individual federal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the characterization of distributions, and may differ from those shown.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or to shares held by non-taxable entities.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">After-tax returns for other Classes of shares will vary from the after-tax returns presented for Class A shares.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 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. After-Tax Returns are not shown for the Ten Years ending December 31, 2017 because the Predecessor Account, unlike a registered investment company, was not required to make annual income distributions to its investors.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 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.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The performance shown above for each Class for the period prior to March 27, 2009 (commencement of operations) is that of the Predecessor Account adjusted to reflect any applicable sales charge or CDSC of the Class but not adjusted for any other differences in expenses. If adjusted for such differences, returns would be different.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 $100,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A &#8211; 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 on page 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 $100,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A &#8211; 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 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 &#8211; 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 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 &#8211; 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 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 &#8211; 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 15 of this Prospectus and page 22 of the Fund&#8217;s Statement of Additional Information.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">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 &#8211; 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 16 of this Prospectus and page 20 of the Fund&#8217;s Statement of Additional Information.</font></p> 100000 100000 50000 50000 50000 50000 2010-02-01 2010-02-01 2010-02-01 2015-05-04 2015-05-04 2015-05-04 2015-05-04 2015-05-04 2015-05-04 2010-02-01 2010-02-01 2010-02-01 <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">May 31, 2019</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; 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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 $100,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A &#8211; 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 on page 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 $100,000 in Eaton Vance funds. Certain financial intermediaries also may offer variations in Fund sales charges to their customers as described in Appendix A &#8211; 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 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 &#8211; 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 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 &#8211; 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 20 of this Prospectus and page 21 of the Fund&#8217;s Statement of Additional Information.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 &#8211; 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 15 of this Prospectus and page 22 of the Fund&#8217;s Statement of Additional Information.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 &#8211; Financial Intermediary Sales Charge Variations in this Prospectus. 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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 expense 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:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 expense 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:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 expense 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:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 expense 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:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 expense 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:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 expense reimbursement arrangement remains in place for the contractual period. 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In seeking the Fund&#8217;s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&#38;P Global Ratings (&#8220;S&#38;P&#8221;), Fitch Ratings (&#8220;Fitch&#8221;) or Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&#38;P, Fitch or Moody&#8217;s or, if unrated, determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (&#8220;junk bonds&#8221;)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund&#8217;s investment adviser believes is subject to the federal alternative minimum tax.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">For its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. The Fund currently targets an average portfolio duration of approximately 2 - 4.5 years and an average weighted portfolio maturity of approximately 3 - 6 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar-weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may also invest in cash and money market instruments.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The investment adviser&#8217;s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of municipal obligations the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). In seeking the Fund&#8217;s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&#38;P Global Ratings (&#8220;S&#38;P&#8221;), Fitch Ratings (&#8220;Fitch&#8221;) or Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&#38;P, Fitch or Moody&#8217;s or, if unrated determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (&#8220;junk bonds&#8221;)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund&#8217;s investment adviser believes is subject to the federal alternative minimum tax.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">For its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. The Fund currently targets an average portfolio duration of approximately 5 - 7 years and an average weighted portfolio maturity of approximately 5 - 13 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may also invest in cash and money market instruments.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The investment adviser&#8217;s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between one and ten years, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). For the purposes of the Fund&#8217;s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund&#8217;s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or higher by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (&#8220;junk bonds&#8221;). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the one-to-ten year maturity range (the &#8220;weighted investment strategy&#8221;). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than one year, the Fund intends to sell that security or let it mature and reinvest the proceeds in obligations with longer maturities. With respect to the Fund&#8217;s weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 10 years within 90 days of the beginning of the calendar year. The Fund&#8217;s portfolio is &#8220;laddered&#8221; by investing in municipal obligations with different final maturities so that some obligations age out of the one-to-ten year maturity range during each year.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The investment adviser&#8217;s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between ten and twenty years, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). For the purposes of the Fund&#8217;s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund&#8217;s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or higher by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (&#8220;junk bonds&#8221;). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the ten-to-twenty year maturity range (the &#8220;weighted investment strategy&#8221;). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than ten years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities. With respect to the Fund&#8217;s weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 20 years within 90 days of the beginning of the calendar year. The Fund&#8217;s portfolio is &#8220;laddered&#8221; by investing in municipal obligations with different final maturities so that some obligations age out of the ten-to-twenty year maturity range during each year.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The investment adviser&#8217;s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). For the purposes of the Fund&#8217;s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligations, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund&#8217;s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or higher by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (&#8220;junk bonds&#8221;). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the five-to-fifteen year maturity range (the &#8220;weighted investment strategy&#8221;). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than five years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities. With respect to the Fund's weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 15 years within 90 days of the beginning of the calendar year. The Fund&#8217;s portfolio is &#8220;laddered&#8221; by investing in municipal obligations with different final maturities so that some obligations age out of the five-to-fifteen year maturity range during each year.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The investment adviser&#8217;s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The Fund currently invests its assets in the Portfolio, a separate registered investment company with substantially the same investment objective and policies as the Fund, but may also invest directly in securities and other instruments.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">Under normal market circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations (including notes and tax-exempt commercial paper) issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (the &#8220;80% Policy&#8221;). The Fund may invest without limit in obligations the income from which is subject to the federal alternative minimum tax. The Fund will primarily invest in &#8220;high yield&#8221; municipal obligations under normal market conditions. For this purpose, &#8220;high yield&#8221; municipal obligations are municipal obligations rated at the time of investment either Baa or lower by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or BBB or lower by either S&#38;P Global Ratings (&#8220;S&#38;P&#8221;) or Fitch Ratings (&#8220;Fitch&#8221;) or, if unrated, determined by the investment adviser to be of comparable quality. &#8220;High yield&#8221; municipal obligations rated below investment grade are also known as &#8220;junk bonds.&#8221; The Fund may invest in securities in any rating category, including those in default. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the lowest rating will be used for any Fund rating restrictions. The Fund may also invest a portion of its assets in municipal obligations that are not paying current income in anticipation of possible future income. The Fund may invest up to 20% of its net assets in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities. The Fund may purchase or sell derivative instruments (such as residual interest bonds, futures contracts and options thereon, interest rate swaps, and forward rate contracts) for hedging purposes, to seek total return or as a substitute for the purchase or sale of securities. There is no stated limit on the Fund&#8217;s use of derivatives.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In pursuing its objective, the Fund normally acquires municipal obligations with maturities of ten years or more, but may acquire securities with shorter maturities. The Fund&#8217;s portfolio often has a longer average maturity than is typical of many other funds that invest primarily in municipal obligations. As a result, the interest rate risk described below may be more significant for the Fund. The Fund may invest 25% or more of its total assets in certain types of municipal obligations (such as general obligations, municipal leases, principal only municipal investments, revenue bonds and industrial development bonds) and in one or more states, territories or economic sectors (such as housing, hospitals, healthcare facilities or utilities).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The investment adviser&#8217;s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio manager also may trade securities to seek to minimize taxable capital gains to shareholders. A portion of the Fund&#8217;s distributions generally will be subject to the federal alternative minimum tax.&#160;<i>The Fund may not be suitable for investors subject to the federal alternative minimum tax.</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Principal Risks</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Principal Risks</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Principal Risks</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Principal Risks</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Principal Risks</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Principal Risks</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b>Market Risk.</b>&#160;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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Municipal Obligation Risk.</b>&#160;The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund&#8217;s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Interest Rate Risk.</b>&#160;In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations are more sensitive to changes in interest rates than shorter duration securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations will be less volatile but may provide lower returns than fixed income securities with longer durations. The Fund may own individual investments that have longer durations. In a rising interest rate environment, the durations of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Credit Risk.</b>&#160;Investments in municipal obligations and other debt obligations (referred to below as &#8220;debt instruments&#8221;) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer&#8217;s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund&#8217;s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks of Principal Only Investments.</b>&#160;Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>U.S. Government Securities Risk.</b>&#160;Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Tax Risk.</b>&#160;Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Money Market Instrument Risk.</b>&#160;Money market instruments may be adversely affected by market and economic events, such as a sharp rise in prevailing short-term interest rates; adverse developments in the banking industry, which issues or guarantees many money market instruments; adverse economic, political or other developments affecting issuers of money market instruments; changes in the credit quality of issuers; and default by a counterparty.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><b>General Fund Investing Risks.&#160;</b>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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b>Market Risk.</b>&#160;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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Municipal Obligation Risk.</b>&#160;The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund&#8217;s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Interest Rate Risk.</b>&#160;In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations are more sensitive to changes in interest rates than shorter duration securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations will be less volatile but may provide lower returns than fixed income securities with longer durations. In a rising interest rate environment, the durations of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Credit Risk.</b>&#160;Investments in municipal obligations and other debt obligations (referred to below as &#8220;debt instruments&#8221;) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer&#8217;s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund&#8217;s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks of Principal Only Investments.</b>&#160;Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>U.S. Government Securities Risk.</b>&#160;Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Tax Risk.</b>&#160;Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Money Market Instrument Risk.</b>&#160;Money market instruments may be adversely affected by market and economic events, such as a sharp rise in prevailing short-term interest rates; adverse developments in the banking industry, which issues or guarantees many money market instruments; adverse economic, political or other developments affecting issuers of money market instruments; changes in the credit quality of issuers; and default by a counterparty.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><b>General Fund Investing Risks.&#160;</b>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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b>Market Risk.</b>&#160;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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Municipal Obligation Risk.</b>&#160;The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund&#8217;s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Interest Rate Risk.</b>&#160;In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Credit Risk.</b>&#160;Investments in municipal obligations and other debt obligations (referred to below as &#8220;debt instruments&#8221;) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer&#8217;s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund&#8217;s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Lower Rated Investments Risk.</b>&#160;Investments rated below investment grade and comparable unrated investments (sometimes referred to as &#8220;junk&#8221;) 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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks of Principal Only Investments.</b>&#160;Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>U.S. Government Securities Risk.</b>&#160;Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Tax Risk.</b>&#160;Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks Associated with Active Management.</b>&#160;The success of the Fund&#8217;s investment strategy depends on portfolio management&#8217;s successful application of analytical skills and investment judgment. Active management involves subjective decisions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><b>General Fund Investing Risks.&#160;</b>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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b>Market Risk.</b>&#160;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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Municipal Obligation Risk.</b>&#160;The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund&#8217;s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Interest Rate Risk.</b>&#160;In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Credit Risk.</b>&#160;Investments in municipal obligations and other debt obligations (referred to below as &#8220;debt instruments&#8221;) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer&#8217;s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund&#8217;s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Lower Rated Investments Risk.</b>&#160;Investments rated below investment grade and comparable unrated investments (sometimes referred to as &#8220;junk&#8221;) 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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks of Principal Only Investments.</b>&#160;Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>U.S. Government Securities Risk.</b>&#160;Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Tax Risk.</b>&#160;Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks Associated with Active Management.</b>&#160;The success of the Fund&#8217;s investment strategy depends on portfolio management&#8217;s successful application of analytical skills and investment judgment. Active management involves subjective decisions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><b>General Fund Investing Risks.&#160;</b>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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b>Market Risk.</b>&#160;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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Municipal Obligation Risk.</b>&#160;The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund&#8217;s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Interest Rate Risk.</b>&#160;In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Credit Risk.</b>&#160;Investments in municipal obligations and other debt obligations (referred to below as &#8220;debt instruments&#8221;) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer&#8217;s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund&#8217;s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Lower Rated Investments Risk.</b>&#160;Investments rated below investment grade and comparable unrated investments (sometimes referred to as &#8220;junk&#8221;) 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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks of Principal Only Investments.</b>&#160;Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>U.S. Government Securities Risk.</b>&#160;Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Tax Risk.</b>&#160;Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks Associated with Active Management.</b>&#160;The success of the Fund&#8217;s investment strategy depends on portfolio management&#8217;s successful application of analytical skills and investment judgment. Active management involves subjective decisions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><b>General Fund Investing Risks.&#160;</b>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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b>Market Risk.</b>&#160;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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Municipal Obligation Risk.</b>&#160;The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund&#8217;s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Interest Rate Risk.</b>&#160;In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations or maturities are more sensitive to changes in interest rates than shorter duration or maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations or maturities will be less volatile but may provide lower returns than fixed income securities with longer durations or maturities. Because the Fund is managed toward an income objective, it may hold more longer duration or maturity obligations and thereby be more exposed to interest rate risk than municipal income funds that are managed with a greater emphasis on total return. In a rising interest rate environment, the durations or maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Credit Risk.</b>&#160;Investments in municipal obligations and other debt obligations (referred to below as &#8220;debt instruments&#8221;) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer&#8217;s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund&#8217;s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Lower Rated Investments Risk.</b>&#160;Investments rated below investment grade and comparable unrated investments (sometimes referred to as &#8220;junk&#8221;) 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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Derivatives Risk.</b>&#160;The Fund&#8217;s exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. The use of derivatives can lead to losses because of adverse movements in the price or value of the asset, index, rate or instrument underlying a derivative, due to failure of a counterparty or due to tax or regulatory constraints. Derivatives may create leverage in the Fund, which represents a non-cash exposure to the underlying asset, index, rate or instrument. Leverage can increase both the risk and return potential of the Fund. Derivatives risk may be more significant when derivatives are used to enhance return or as a substitute for a cash investment position, rather than solely to hedge the risk of a position held by the Fund. Use of derivatives involves the exercise of specialized skill and judgment, and a transaction may be unsuccessful in whole or in part because of market behavior or unexpected events. Changes in the value of a derivative (including one used for hedging) may not correlate perfectly with the underlying asset, rate, index or instrument. Derivative instruments traded in over-the-counter markets may be difficult to value, may be illiquid, and may be subject to wide swings in valuation caused by changes in the value of the underlying instrument. If a derivative&#8217;s counterparty is unable to honor its commitments, the value of Fund shares may decline and the Fund could experience delays in the return of collateral or other assets held by the counterparty. The loss on derivative transactions may substantially exceed the initial investment, particularly when there is no stated limit on the Fund&#8217;s use of derivatives. A derivative investment also involves the risks relating to the asset, index, rate or instrument underlying the investment.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Leverage Risk.</b>&#160;Certain fund transactions may give rise to leverage. Leverage can result from a non-cash exposure to an asset, index, rate or instrument. Leverage can increase both the risk and return potential of the Fund. The Fund is required to segregate liquid assets or otherwise cover the Fund&#8217;s obligation created by a transaction that may give rise to leverage. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage may cause the Fund&#8217;s share price to be more volatile than if it had not been leveraged, as certain types of leverage may exaggerate the effect of any increase or decrease in the value of the Fund&#8217;s portfolio securities. The loss on leveraged investments may substantially exceed the initial investment.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risk of Residual Interest Bonds.</b>&#160;The Fund may enter into residual interest bond transactions, which expose the Fund to leverage and greater risk than an investment in a fixed-rate municipal bond. The interest payments that the Fund receives on the residual interest bonds acquired in such transactions vary inversely with short-term interest rates, normally decreasing when short-term rates increase. The value and market for residual interest bonds are volatile and such bonds may have limited liquidity. As required by applicable accounting standards, the Fund records interest expense as a liability with respect to floating-rate notes and also records offsetting interest income in an amount equal to this expense.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Sector and Geographic Risk.</b>&#160;Because the Fund may invest a significant portion of its assets in a state and/or U.S. territory and in certain types of municipal obligations and/or in certain sectors, the value of Fund shares may be affected by events that adversely affect a state, U.S. territory, sector or type of obligation and may fluctuate more than that of a fund that invests more broadly. General obligation bonds issued by municipalities are adversely affected by economic downturns and any resulting decline in tax revenues. The Commonwealth of Puerto Rico and its related issuers continue to experience financial difficulties and rating agency downgrades, and numerous issuers have entered Title III of the Puerto Rico Oversight, Management and Economic Stability Act, which is similar to bankruptcy protection, through which the Commonwealth of Puerto Rico can restructure its debt. Puerto Rico's short-term financial difficulties were further impacted by a hurricane in 2017. See &#8220;Credit Risk&#8221; and &#8220;Lower Rated Investments Risk&#8221; above.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks of Principal Only Investments.</b>&#160;Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>U.S. Government Securities Risk.</b>&#160;Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Tax Risk.</b>&#160;Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><b>Risks Associated with Active Management.</b>&#160;The success of the Fund&#8217;s investment strategy depends on portfolio management&#8217;s successful application of analytical skills and investment judgment. Active management involves subjective decisions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><b>General Fund Investing Risks.&#160;</b>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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Performance</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Performance</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Performance</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Performance</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Performance</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Performance</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Fund commenced operations on March 27, 2009 and is the successor to the operations of a private limited partnership (the &#8220;Predecessor Account&#8221;). The Predecessor Account was managed by Eaton Vance and had substantially the same investment objective, policies and strategies as the Fund. However, the Predecessor Account was not a mutual fund registered under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;) or a regulated investment company under the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;), and therefore the Predecessor Account was not subject to the investment limitations, diversification requirements and other restrictions imposed by the 1940 Act and/or the Code. If such requirements were applicable to the Predecessor Account, the performance shown may have been adversely affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">The performance of each Class for the period prior to March 27, 2009 is that of the Predecessor Account. The returns in the bar chart for periods after March 27, 2009 are for Class A shares of the Fund and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower. The Fund&#8217;s performance for certain periods after March 27, 2009 reflects the effects of expense reductions. Absent these reductions, performance for certain periods would have been lower. Effective February 17, 2015, the Fund changed its name, objective and investment strategy to invest at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. 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.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices. The returns in the bar chart are for Class 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. The Fund&#8217;s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;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. The Fund&#8217;s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;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. The Fund&#8217;s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices. The returns in the bar chart are for Class 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. The Fund&#8217;s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and how the Fund&#8217;s average annual returns over time compare with those of two broad-based securities market indices. The returns in the bar chart are for Class 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.</p> <div style="display: none">~ http://eatonvance.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact evmtii_S000024906Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact evmtii_S000027033Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact evmtii_S000049164Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact evmtii_S000049165Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact evmtii_S000027034Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact evmtii_S000004834Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For the ten years ended December 31, 2017, the highest quarterly total return for the Fund or Predecessor Account was 5.03% for the quarter ended December 31, 2008, and the lowest quarterly return for the Fund or Predecessor Account was -2.36% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -0.99%.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was 3.75% for the quarter ended June 30, 2011, and the lowest quarterly return was &#8211;4.07% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.71%.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was 1.46% for the quarter ended June 30, 2016, and the lowest quarterly return was -2.89% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.01%.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was 4.08% for the quarter ended June 30, 2016, and the lowest quarterly return was -5.41% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.71%.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was 5.14% for the quarter ended March 31, 2014, and the lowest quarterly return was -5.10% for the quarter ended June 30, 2013. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.84%.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For the ten years ended December 31, 2017, the highest quarterly total return for Class A was 16.76% for the quarter ended September 30, 2009, and the lowest quarterly return was -27.80% for the quarter ended December 31, 2008. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -0.94%.</p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Average Annual Total Return as of December 31, 2017</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Average Annual Total Return as of December 31, 2017</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Average Annual Total Return as of December 31, 2017</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Average Annual Total Return as of December 31, 2017</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Average Annual Total Return as of December 31, 2017</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Average Annual Total Return as of December 31, 2017</font></p> <div style="display: none">~ http://eatonvance.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact evmtii_S000024906Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact evmtii_S000027033Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact evmtii_S000049164Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact evmtii_S000049165Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact evmtii_S000027034Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://eatonvance.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact evmtii_S000004834Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C. The performance shown above for each Class for the period prior to March 27, 2009 (commencement of operations) is that of the Predecessor Account adjusted to reflect any applicable sales charge or CDSC of the Class but not adjusted for any other differences in expenses. If adjusted for such differences, returns would be different. Investors cannot invest directly in an Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">After-Tax Return is calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;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 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. After-Tax Returns are not shown for the Ten Years ending December 31, 2017 because the Predecessor Account, unlike a registered investment company, was not required to make annual income distributions to its investors.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C. Class A, Class C and Class I commenced operations on February 1, 2010. Effective February 17, 2015, the Fund changed its name, objective and investment strategy to invest at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. Investors cannot invest directly in an Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;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 Sale of Fund Shares for a period may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C. Class A, Class C and Class I commenced operations on May 4, 2015. Investors cannot invest directly in an Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;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 Sale of Fund Shares for a period may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C. Class A, Class C and Class I commenced operations on May 4, 2015. Investors cannot invest directly in an Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;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 Sale of Fund Shares for a period may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class C. Class A, Class C and Class I commenced operations on February 1, 2010. Effective April 15, 2015, the Fund changed its name, investment objective and investment strategy to invest at least 80% of its net assets in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax. Investors cannot invest directly in an Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">After-tax returns are calculated using the highest historical individual federal income tax rates and does not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;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 Sale of Fund Shares for a period may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify">These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (&#8220;CDSC&#8221;) for Class B and Class C. Investors cannot invest directly in an Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify">After-tax returns are calculated using the highest historical individual federal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder&#8217;s tax situation and the 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 Sale of Fund Shares for a period may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares.</p> 0.0000 0.0500 0.0100 0.0000 <p style="margin: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Expenses in the table above and the Example below reflect the expenses of the Fund and 5-to-15 Year Laddered Municipal Bond Portfolio (the &#8220;Portfolio&#8221;), the Fund&#8217;s master Portfolio.</font></p> The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.90% for Class A shares, 1.65% for Class C shares and 0.65% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year. The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year. Expenses in the table above and the Example below reflect the expenses of the Fund and 5-to-15 Year Laddered Municipal Bond Portfolio (the "Portfolio"), the Fund's master Portfolio. 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Bloomberg Barclays Short-Intermediate 1-10 Year Municipal Bond Index Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund Class A Class C Class I Bloomberg Barclays 15 Year Municipal Bond Index Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund Class A Class C Class I Bloomberg Barclays 10 Year Municipal Bond Index Bloomberg Barclays 15 Year Municipal Bond Index Eaton Vance High Yield Municipal Income Fund Class A Class B Class C Class I Bloomberg Barclays Municipal Bond Index Bloomberg Barclays High Yield Long (22+) Municipal Bond Index Prospectus: [Table] Prospectus [Line Items] Risk/Return: Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] 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[Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Investment Objective, Heading Investment Objective, Primary Expense, Heading Expense, Narrative Shareholder Fees, Caption Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses, Caption Operating Expenses Column [Text] Management Fees Distribution and Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Interest Expense Expenses Other than Interest Expense Component3 Other Expenses Other Expenses Acquired Fund Fees and Expenses Total Annual Fund Operating Expenses Expense Reimbursement Total Annual Fund Operating Expenses After Expense Reimbursement Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Heading Portfolio Turnover Portfolio Turnover, Rate Expense Breakpoint, Discounts Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included 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Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Bar Chart, Closing Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Year to Date Return, Date Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table 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Document and Entity Information
Total
Risk/Return:  
Document Type 485BPOS
Document Period End Date Jan. 31, 2018
Registrant Name EATON VANCE MUNICIPALS TRUST II
Central Index Key 0000914529
Amendment Flag false
Document Creation Date May 30, 2018
Document Effective Date Jun. 01, 2018
Prospectus Date Jun. 01, 2018
Eaton Vance TABS Short-Term Municipal Bond Fund | Class A  
Risk/Return:  
Trading Symbol EABSX
Eaton Vance TABS Short-Term Municipal Bond Fund | Class C  
Risk/Return:  
Trading Symbol ECBSX
Eaton Vance TABS Short-Term Municipal Bond Fund | Class I  
Risk/Return:  
Trading Symbol EIBSX
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Class A  
Risk/Return:  
Trading Symbol EITAX
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Class C  
Risk/Return:  
Trading Symbol EITCX
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Class I  
Risk/Return:  
Trading Symbol ETIIX
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund | Class A  
Risk/Return:  
Trading Symbol EALBX
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund | Class C  
Risk/Return:  
Trading Symbol ECLBX
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund | Class I  
Risk/Return:  
Trading Symbol EILBX
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund | Class A  
Risk/Return:  
Trading Symbol EATTX
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund | Class C  
Risk/Return:  
Trading Symbol ECTTX
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund | Class I  
Risk/Return:  
Trading Symbol EITTX
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Class A  
Risk/Return:  
Trading Symbol EALTX
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Class C  
Risk/Return:  
Trading Symbol ECLTX
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Class I  
Risk/Return:  
Trading Symbol EILTX
Eaton Vance High Yield Municipal Income Fund | Class A  
Risk/Return:  
Trading Symbol ETHYX
Eaton Vance High Yield Municipal Income Fund | Class B  
Risk/Return:  
Trading Symbol EVHYX
Eaton Vance High Yield Municipal Income Fund | Class C  
Risk/Return:  
Trading Symbol ECHYX
Eaton Vance High Yield Municipal Income Fund | Class I  
Risk/Return:  
Trading Symbol EIHYX
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Eaton Vance TABS Short-Term Municipal Bond Fund

Investment Objective

The Fund’s investment objective is to seek after-tax 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 $100,000 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 on page 20 of this Prospectus and page 21 of the Fund’s Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - Eaton Vance TABS Short-Term Municipal Bond Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 2.25% none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) none 1.00% none

Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - Eaton Vance TABS Short-Term Municipal Bond Fund
Class A
Class C
Class I
Management Fees 0.55% 0.55% 0.55%
Distribution and Service (12b-1) Fees 0.25% 1.00% none
Other Expenses 0.10% 0.10% 0.10%
Total Annual Fund Operating Expenses 0.90% 1.65% 0.65%

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 expense 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:

Expense Example - Eaton Vance TABS Short-Term Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 315 506 712 1,308
Class C 268 520 897 1,955
Class I 66 208 362 810
Expense Example, No Redemption - Eaton Vance TABS Short-Term Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 315 506 712 1,308
Class C 168 520 897 1,955
Class I 66 208 362 810

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, the Fund's portfolio turnover rate was 54% 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 a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated, determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s investment adviser believes is subject to the federal alternative minimum tax.

For its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. The Fund currently targets an average portfolio duration of approximately 2 - 4.5 years and an average weighted portfolio maturity of approximately 3 - 6 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar-weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may also invest in cash and money market instruments.

The investment adviser’s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume. 

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations are more sensitive to changes in interest rates than shorter duration securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations will be less volatile but may provide lower returns than fixed income securities with longer durations. The Fund may own individual investments that have longer durations. In a rising interest rate environment, the durations of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

Money Market Instrument Risk. Money market instruments may be adversely affected by market and economic events, such as a sharp rise in prevailing short-term interest rates; adverse developments in the banking industry, which issues or guarantees many money market instruments; adverse economic, political or other developments affecting issuers of money market instruments; changes in the credit quality of issuers; and default by a counterparty.

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 two broad-based securities market indices.

The Fund commenced operations on March 27, 2009 and is the successor to the operations of a private limited partnership (the “Predecessor Account”). The Predecessor Account was managed by Eaton Vance and had substantially the same investment objective, policies and strategies as the Fund. However, the Predecessor Account was not a mutual fund registered under the Investment Company Act of 1940, as amended (the “1940 Act”) or a regulated investment company under the Internal Revenue Code of 1986, as amended (the “Code”), and therefore the Predecessor Account was not subject to the investment limitations, diversification requirements and other restrictions imposed by the 1940 Act and/or the Code. If such requirements were applicable to the Predecessor Account, the performance shown may have been adversely affected.

The performance of each Class for the period prior to March 27, 2009 is that of the Predecessor Account. The returns in the bar chart for periods after March 27, 2009 are for Class A shares of the Fund and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower. The Fund’s performance for certain periods after March 27, 2009 reflects the effects of expense reductions. Absent these reductions, performance for certain periods would have been lower. Effective February 17, 2015, the Fund changed its name, objective and investment strategy to invest at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. 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.

Bar Chart

For the ten years ended December 31, 2017, the highest quarterly total return for the Fund or Predecessor Account was 5.03% for the quarter ended December 31, 2008, and the lowest quarterly return for the Fund or Predecessor Account was -2.36% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -0.99%.

Average Annual Total Return as of December 31, 2017

Average Annual Total Returns - Eaton Vance TABS Short-Term Municipal Bond Fund
One Year
Five Years
Ten Years
Class A (0.26%) 0.45% 2.45%
Class A | After Taxes on Distributions (0.30%) 0.34%
Class A | After Taxes on Distributions and Sales 0.40% 0.56%
Class C 0.21% 0.14% 2.01%
Class I 2.32% 1.14% 2.90%
Bloomberg Barclays 5 Year Municipal Bond Index 3.14% 1.83% 3.54%
Bloomberg Barclays Municipal Managed Money 1-7 Year Bond Index 2.41% 1.38% 2.98%

These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. The performance shown above for each Class for the period prior to March 27, 2009 (commencement of operations) is that of the Predecessor Account adjusted to reflect any applicable sales charge or CDSC of the Class but not adjusted for any other differences in expenses. If adjusted for such differences, returns would be different. Investors cannot invest directly in an Index.

After-Tax Return is calculated using the highest historical individual federal income tax rates and does 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 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. After-Tax Returns are not shown for the Ten Years ending December 31, 2017 because the Predecessor Account, unlike a registered investment company, was not required to make annual income distributions to its investors.

XML 11 R3.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000914529
Eaton Vance TABS Short-Term Municipal Bond 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 after-tax 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 $100,000 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 on page 20 of this Prospectus and page 21 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, the Fund's portfolio turnover rate was 54% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 54.00%
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 $100,000 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 on page 20 of this Prospectus and page 21 of the Fund’s Statement of Additional Information.

Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
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 expense 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 a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated, determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s investment adviser believes is subject to the federal alternative minimum tax.

For its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. The Fund currently targets an average portfolio duration of approximately 2 - 4.5 years and an average weighted portfolio maturity of approximately 3 - 6 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar-weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may also invest in cash and money market instruments.

The investment adviser’s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.

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 a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated, determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s investment adviser believes is subject to the federal alternative minimum tax.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume. 

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations are more sensitive to changes in interest rates than shorter duration securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations will be less volatile but may provide lower returns than fixed income securities with longer durations. The Fund may own individual investments that have longer durations. In a rising interest rate environment, the durations of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

Money Market Instrument Risk. Money market instruments may be adversely affected by market and economic events, such as a sharp rise in prevailing short-term interest rates; adverse developments in the banking industry, which issues or guarantees many money market instruments; adverse economic, political or other developments affecting issuers of money market instruments; changes in the credit quality of issuers; and default by a counterparty.

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 two broad-based securities market indices.

The Fund commenced operations on March 27, 2009 and is the successor to the operations of a private limited partnership (the “Predecessor Account”). The Predecessor Account was managed by Eaton Vance and had substantially the same investment objective, policies and strategies as the Fund. However, the Predecessor Account was not a mutual fund registered under the Investment Company Act of 1940, as amended (the “1940 Act”) or a regulated investment company under the Internal Revenue Code of 1986, as amended (the “Code”), and therefore the Predecessor Account was not subject to the investment limitations, diversification requirements and other restrictions imposed by the 1940 Act and/or the Code. If such requirements were applicable to the Predecessor Account, the performance shown may have been adversely affected.

The performance of each Class for the period prior to March 27, 2009 is that of the Predecessor Account. The returns in the bar chart for periods after March 27, 2009 are for Class A shares of the Fund and do not reflect a sales charge. If the sales charge was reflected, the returns would be lower. The Fund’s performance for certain periods after March 27, 2009 reflects the effects of expense reductions. Absent these reductions, performance for certain periods would have been lower. Effective February 17, 2015, the Fund changed its name, objective and investment strategy to invest at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. 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 two broad-based securities market indices.

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 for periods after March 27, 2009 are for Class A shares of the Fund 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 the Fund or Predecessor Account was 5.03% for the quarter ended December 31, 2008, and the lowest quarterly return for the Fund or Predecessor Account was -2.36% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -0.99%.

Year to Date Return, Label rr_YearToDateReturnLabel

The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was

Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Year to Date Return rr_BarChartYearToDateReturn (0.99%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

For the ten years ended December 31, 2017, the highest quarterly total return for the Fund or Predecessor Account was

Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.03%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

and the lowest quarterly return for the Fund or Predecessor Account was

Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.36%)
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 (2.25%) and any applicable contingent deferred sales charge (“CDSC”) for Class C.

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate

After-Tax Return is calculated using the highest historical individual federal income tax rates and does 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 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. After-Tax Returns are not shown for the Ten Years ending December 31, 2017 because the Predecessor Account, unlike a registered investment company, was not required to make annual income distributions to its investors.

Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] rr_PerformanceTableFootnotesReasonPerformanceInformationForClassDifferentFromImmediatelyPrecedingPeriod

The performance shown above for each Class for the period prior to March 27, 2009 (commencement of operations) is that of the Predecessor Account adjusted to reflect any applicable sales charge or CDSC of the Class but not adjusted for any other differences in expenses. If adjusted for such differences, returns would be different.

Performance Table, Closing rr_PerformanceTableClosingTextBlock

These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. The performance shown above for each Class for the period prior to March 27, 2009 (commencement of operations) is that of the Predecessor Account adjusted to reflect any applicable sales charge or CDSC of the Class but not adjusted for any other differences in expenses. If adjusted for such differences, returns would be different. Investors cannot invest directly in an Index.

After-Tax Return is calculated using the highest historical individual federal income tax rates and does 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 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. After-Tax Returns are not shown for the Ten Years ending December 31, 2017 because the Predecessor Account, unlike a registered investment company, was not required to make annual income distributions to its investors.

Eaton Vance TABS Short-Term Municipal Bond Fund | Bloomberg Barclays 5 Year Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 3.14%
Five Years rr_AverageAnnualReturnYear05 1.83%
Ten Years rr_AverageAnnualReturnYear10 3.54%
Eaton Vance TABS Short-Term Municipal Bond Fund | Bloomberg Barclays Municipal Managed Money 1-7 Year Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 2.41%
Five Years rr_AverageAnnualReturnYear05 1.38%
Ten Years rr_AverageAnnualReturnYear10 2.98%
Eaton Vance TABS Short-Term Municipal Bond Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.25%
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 0.55%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.10%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90%
1 Year rr_ExpenseExampleYear01 $ 315
3 Years rr_ExpenseExampleYear03 506
5 Years rr_ExpenseExampleYear05 712
10 Years rr_ExpenseExampleYear10 1,308
1 Year rr_ExpenseExampleNoRedemptionYear01 315
3 Years rr_ExpenseExampleNoRedemptionYear03 506
5 Years rr_ExpenseExampleNoRedemptionYear05 712
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,308
Annual Return 2008 rr_AnnualReturn2008 6.63%
Annual Return 2009 rr_AnnualReturn2009 5.46%
Annual Return 2010 rr_AnnualReturn2010 2.69%
Annual Return 2011 rr_AnnualReturn2011 5.92%
Annual Return 2012 rr_AnnualReturn2012 1.79%
Annual Return 2013 rr_AnnualReturn2013 (0.70%)
Annual Return 2014 rr_AnnualReturn2014 2.52%
Annual Return 2015 rr_AnnualReturn2015 1.46%
Annual Return 2016 rr_AnnualReturn2016 (0.73%)
Annual Return 2017 rr_AnnualReturn2017 2.06%
One Year rr_AverageAnnualReturnYear01 (0.26%)
Five Years rr_AverageAnnualReturnYear05 0.45%
Ten Years rr_AverageAnnualReturnYear10 2.45%
Eaton Vance TABS Short-Term Municipal Bond Fund | Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 (0.30%)
Five Years rr_AverageAnnualReturnYear05 0.34%
Ten Years rr_AverageAnnualReturnYear10
Eaton Vance TABS Short-Term Municipal Bond Fund | Class A | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 0.40%
Five Years rr_AverageAnnualReturnYear05 0.56%
Ten Years rr_AverageAnnualReturnYear10
Eaton Vance TABS Short-Term Municipal Bond 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 0.55%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.10%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.65%
1 Year rr_ExpenseExampleYear01 $ 268
3 Years rr_ExpenseExampleYear03 520
5 Years rr_ExpenseExampleYear05 897
10 Years rr_ExpenseExampleYear10 1,955
1 Year rr_ExpenseExampleNoRedemptionYear01 168
3 Years rr_ExpenseExampleNoRedemptionYear03 520
5 Years rr_ExpenseExampleNoRedemptionYear05 897
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,955
One Year rr_AverageAnnualReturnYear01 0.21%
Five Years rr_AverageAnnualReturnYear05 0.14%
Ten Years rr_AverageAnnualReturnYear10 2.01%
Eaton Vance TABS Short-Term Municipal Bond 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 0.55%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.10%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.65%
1 Year rr_ExpenseExampleYear01 $ 66
3 Years rr_ExpenseExampleYear03 208
5 Years rr_ExpenseExampleYear05 362
10 Years rr_ExpenseExampleYear10 810
1 Year rr_ExpenseExampleNoRedemptionYear01 66
3 Years rr_ExpenseExampleNoRedemptionYear03 208
5 Years rr_ExpenseExampleNoRedemptionYear05 362
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 810
One Year rr_AverageAnnualReturnYear01 2.32%
Five Years rr_AverageAnnualReturnYear05 1.14%
Ten Years rr_AverageAnnualReturnYear10 2.90%
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Eaton Vance TABS Intermediate-Term Municipal Bond Fund

Investment Objective

The Fund’s investment objective is to seek after-tax 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 $100,000 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 20 of this Prospectus and page 21 of the Fund’s Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - Eaton Vance TABS Intermediate-Term Municipal Bond Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 2.25% none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) none 1.00% none

Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - Eaton Vance TABS Intermediate-Term Municipal Bond Fund
Class A
Class C
Class I
Management Fees 0.60% 0.60% 0.60%
Distribution and Service (12b-1) Fees 0.25% 1.00% none
Other Expenses 0.12% 0.12% 0.12%
Total Annual Fund Operating Expenses 0.97% 1.72% 0.72%
Expense Reimbursement [1] (0.07%) (0.07%) (0.07%)
Total Annual Fund Operating Expenses After Expense Reimbursement 0.90% 1.65% 0.65%
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.90% for Class A shares, 1.65% for Class C shares and 0.65% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.

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 expense 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:

Expense Example - Eaton Vance TABS Intermediate-Term Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 315 520 743 1,382
Class C 268 535 927 2,024
Class I 66 223 394 888
Expense Example, No Redemption - Eaton Vance TABS Intermediate-Term Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 315 520 743 1,382
Class C 168 535 927 2,024
Class I 66 223 394 888

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, the Fund's portfolio turnover rate was 62% 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 a diversified portfolio of municipal obligations the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s investment adviser believes is subject to the federal alternative minimum tax.

For its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. The Fund currently targets an average portfolio duration of approximately 5 - 7 years and an average weighted portfolio maturity of approximately 5 - 13 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may also invest in cash and money market instruments.

The investment adviser’s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume. 

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations are more sensitive to changes in interest rates than shorter duration securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations will be less volatile but may provide lower returns than fixed income securities with longer durations. In a rising interest rate environment, the durations of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

Money Market Instrument Risk. Money market instruments may be adversely affected by market and economic events, such as a sharp rise in prevailing short-term interest rates; adverse developments in the banking industry, which issues or guarantees many money market instruments; adverse economic, political or other developments affecting issuers of money market instruments; changes in the credit quality of issuers; and default by a counterparty.

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 two broad-based securities market indices. 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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

Bar Chart

During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was 3.75% for the quarter ended June 30, 2011, and the lowest quarterly return was –4.07% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.71%.

Average Annual Total Return as of December 31, 2017

Average Annual Total Returns - Eaton Vance TABS Intermediate-Term Municipal Bond Fund
One Year
Five Years
Life of Fund
Inception Date
Class A 2.08% 2.12% 4.21% Feb. 01, 2010
Class A | After Taxes on Distributions 2.05% 2.08% 4.09%  
Class A | After Taxes on Distributions and Sales 1.94% 1.97% 3.59%  
Class C 2.67% 1.82% 3.74% Feb. 01, 2010
Class I 4.71% 2.82% 4.78% Feb. 01, 2010
Bloomberg Barclays Municipal Managed Money Intermediate (1-17 Year) Bond Index 4.88% 2.55% 4.26%  
Bloomberg Barclays 7 Year Municipal Bond Index 4.49% 2.44% 4.30%  

These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on February 1, 2010. Effective February 17, 2015, the Fund changed its name, objective and investment strategy to invest at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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.

XML 14 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000914529
Eaton Vance TABS Intermediate-Term Municipal Bond 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 after-tax 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 $100,000 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 20 of this Prospectus and page 21 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, the Fund's portfolio turnover rate was 62% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 62.00%
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 $100,000 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 20 of this Prospectus and page 21 of the Fund’s Statement of Additional Information.

Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
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 expense 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 a diversified portfolio of municipal obligations the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s investment adviser believes is subject to the federal alternative minimum tax.

For its investment in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. The Fund currently targets an average portfolio duration of approximately 5 - 7 years and an average weighted portfolio maturity of approximately 5 - 13 years, but may invest in securities of any maturity or duration, and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. The portfolio managers generally will seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio to take advantage of price opportunities in the markets for municipal obligations. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may also invest in cash and money market instruments.

The investment adviser’s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer or person obligated to repay the obligation. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.

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 a diversified portfolio of municipal obligations the interest on which is exempt from regular federal income tax (the “80% Policy”). In seeking the Fund’s investment objective, the portfolio managers emphasize tax-exempt income. The Fund normally invests in municipal obligations rated in the three highest rating categories (those rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the investment adviser to be of comparable quality at the time of purchase. The Fund will not invest more than 50% of its net assets in municipal obligations rated A at the time of purchase by S&P, Fitch or Moody’s or, if unrated determined by the investment adviser to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the investment adviser believes it would be advantageous to do so. The Fund will not invest in a municipal obligation the interest on which the Fund’s investment adviser believes is subject to the federal alternative minimum tax.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume. 

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations are more sensitive to changes in interest rates than shorter duration securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations will be less volatile but may provide lower returns than fixed income securities with longer durations. In a rising interest rate environment, the durations of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

Money Market Instrument Risk. Money market instruments may be adversely affected by market and economic events, such as a sharp rise in prevailing short-term interest rates; adverse developments in the banking industry, which issues or guarantees many money market instruments; adverse economic, political or other developments affecting issuers of money market instruments; changes in the credit quality of issuers; and default by a counterparty.

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 two broad-based securities market indices. 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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

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 two broad-based securities market indices.

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

During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was 3.75% for the quarter ended June 30, 2011, and the lowest quarterly return was –4.07% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.71%.

Year to Date Return, Label rr_YearToDateReturnLabel

The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was

Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Year to Date Return rr_BarChartYearToDateReturn (1.71%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was

Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.75%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

and the lowest quarterly return was

Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (4.07%)
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 (2.25%) 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 does 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 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, Closing rr_PerformanceTableClosingTextBlock

These returns reflect the maximum sales charge for Class A (2.25%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on February 1, 2010. Effective February 17, 2015, the Fund changed its name, objective and investment strategy to invest at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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 TABS Intermediate-Term Municipal Bond Fund | Bloomberg Barclays Municipal Managed Money Intermediate (1-17 Year) Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 4.88%
Five Years rr_AverageAnnualReturnYear05 2.55%
Life of Fund rr_AverageAnnualReturnSinceInception 4.26%
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Bloomberg Barclays 7 Year Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 4.49%
Five Years rr_AverageAnnualReturnYear05 2.44%
Life of Fund rr_AverageAnnualReturnSinceInception 4.30%
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.25%
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 0.60%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.97%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.07%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.90%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 315
3 Years rr_ExpenseExampleYear03 520
5 Years rr_ExpenseExampleYear05 743
10 Years rr_ExpenseExampleYear10 1,382
1 Year rr_ExpenseExampleNoRedemptionYear01 315
3 Years rr_ExpenseExampleNoRedemptionYear03 520
5 Years rr_ExpenseExampleNoRedemptionYear05 743
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,382
Annual Return 2011 rr_AnnualReturn2011 12.86%
Annual Return 2012 rr_AnnualReturn2012 4.97%
Annual Return 2013 rr_AnnualReturn2013 (2.10%)
Annual Return 2014 rr_AnnualReturn2014 7.97%
Annual Return 2015 rr_AnnualReturn2015 3.08%
Annual Return 2016 rr_AnnualReturn2016 (0.16%)
Annual Return 2017 rr_AnnualReturn2017 4.45%
One Year rr_AverageAnnualReturnYear01 2.08%
Five Years rr_AverageAnnualReturnYear05 2.12%
Life of Fund rr_AverageAnnualReturnSinceInception 4.21%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2010
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 2.05%
Five Years rr_AverageAnnualReturnYear05 2.08%
Life of Fund rr_AverageAnnualReturnSinceInception 4.09%
Eaton Vance TABS Intermediate-Term Municipal Bond Fund | Class A | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 1.94%
Five Years rr_AverageAnnualReturnYear05 1.97%
Life of Fund rr_AverageAnnualReturnSinceInception 3.59%
Eaton Vance TABS Intermediate-Term Municipal Bond 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 0.60%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.72%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.07%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.65%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 268
3 Years rr_ExpenseExampleYear03 535
5 Years rr_ExpenseExampleYear05 927
10 Years rr_ExpenseExampleYear10 2,024
1 Year rr_ExpenseExampleNoRedemptionYear01 168
3 Years rr_ExpenseExampleNoRedemptionYear03 535
5 Years rr_ExpenseExampleNoRedemptionYear05 927
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,024
One Year rr_AverageAnnualReturnYear01 2.67%
Five Years rr_AverageAnnualReturnYear05 1.82%
Life of Fund rr_AverageAnnualReturnSinceInception 3.74%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2010
Eaton Vance TABS Intermediate-Term Municipal Bond 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 0.60%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.72%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.07%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.65%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 66
3 Years rr_ExpenseExampleYear03 223
5 Years rr_ExpenseExampleYear05 394
10 Years rr_ExpenseExampleYear10 888
1 Year rr_ExpenseExampleNoRedemptionYear01 66
3 Years rr_ExpenseExampleNoRedemptionYear03 223
5 Years rr_ExpenseExampleNoRedemptionYear05 394
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 888
One Year rr_AverageAnnualReturnYear01 4.71%
Five Years rr_AverageAnnualReturnYear05 2.82%
Life of Fund rr_AverageAnnualReturnSinceInception 4.78%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2010
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.90% for Class A shares, 1.65% for Class C shares and 0.65% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.
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Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund

Investment Objective

The Fund’s investment objective is to provide current income exempt from regular federal income tax.

Fees and Expenses of the Fund

The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 20 of this Prospectus and page 21 of the Fund’s Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.75% none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) none 1.00% none

Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund
Class A
Class C
Class I
Management Fees 0.32% 0.32% 0.32%
Distribution and Service (12b-1) Fees 0.25% 1.00% none
Other Expenses 0.32% 0.32% 0.32%
Total Annual Fund Operating Expenses 0.89% 1.64% 0.64%
Expense Reimbursement [1] (0.24%) (0.24%) (0.24%)
Total Annual Fund Operating Expenses After Expense Reimbursement 0.65% 1.40% 0.40%
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.

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 expense 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:

Expense Example - Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 538 723 922 1,498
Class C 243 494 869 1,924
Class I 41 181 333 776
Expense Example, No Redemption - Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 538 723 922 1,498
Class C 143 494 869 1,924
Class I 41 181 333 776

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, the Fund's portfolio turnover was 19% 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 municipal obligations with final maturities of between one and ten years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the one-to-ten year maturity range (the “weighted investment strategy”). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than one year, the Fund intends to sell that security or let it mature and reinvest the proceeds in obligations with longer maturities. With respect to the Fund’s weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 10 years within 90 days of the beginning of the calendar year. The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the one-to-ten year maturity range during each year.

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

Bar Chart

During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was 1.46% for the quarter ended June 30, 2016, and the lowest quarterly return was -2.89% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.01%.

Average Annual Total Return as of December 31, 2017

Average Annual Total Returns - Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund
One Year
Life of Fund
Inception Date
Class A (1.83%) 0.26% May 04, 2015
Class A | After Taxes on Distributions (1.87%) 0.23%  
Class A | After Taxes on Distributions and Sales (0.56%) 0.43%  
Class C 1.27% 1.35% May 04, 2015
Class I 3.31% 2.41% May 04, 2015
Bloomberg Barclays Short-Intermediate 1-10 Year Municipal Bond Index 3.03% 1.70%  

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on May 4, 2015. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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.

XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000914529
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Investment Objective, Heading rr_ObjectiveHeading

Investment Objective

Investment Objective, Primary rr_ObjectivePrimaryTextBlock

The Fund’s investment objective is to provide current income exempt from regular federal income tax.

Expense, Heading rr_ExpenseHeading

Fees and Expenses of the Fund

Expense, Narrative rr_ExpenseNarrativeTextBlock

The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 20 of this Prospectus and page 21 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, the Fund's portfolio turnover was 19% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 19.00%
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 20 of this Prospectus and page 21 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 expense 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 municipal obligations with final maturities of between one and ten years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the one-to-ten year maturity range (the “weighted investment strategy”). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than one year, the Fund intends to sell that security or let it mature and reinvest the proceeds in obligations with longer maturities. With respect to the Fund’s weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 10 years within 90 days of the beginning of the calendar year. The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the one-to-ten year maturity range during each year.

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.

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 municipal obligations with final maturities of between one and ten years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

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

During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was 1.46% for the quarter ended June 30, 2016, and the lowest quarterly return was -2.89% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.01%.

Year to Date Return, Label rr_YearToDateReturnLabel

The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was

Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Year to Date Return rr_BarChartYearToDateReturn (1.01%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was

Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.46%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

and the lowest quarterly return was

Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.89%)
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 (4.75%) 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 does 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 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, Closing rr_PerformanceTableClosingTextBlock

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on May 4, 2015. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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 TABS 1-to-10 Year Laddered Municipal Bond Fund | Bloomberg Barclays Short-Intermediate 1-10 Year Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 3.03%
Life of Fund rr_AverageAnnualReturnSinceInception 1.70%
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.75%
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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.32%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.89%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.24%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.65%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 538
3 Years rr_ExpenseExampleYear03 723
5 Years rr_ExpenseExampleYear05 922
10 Years rr_ExpenseExampleYear10 1,498
1 Year rr_ExpenseExampleNoRedemptionYear01 538
3 Years rr_ExpenseExampleNoRedemptionYear03 723
5 Years rr_ExpenseExampleNoRedemptionYear05 922
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,498
Annual Return 2016 rr_AnnualReturn2016 (0.22%)
Annual Return 2017 rr_AnnualReturn2017 3.04%
One Year rr_AverageAnnualReturnYear01 (1.83%)
Life of Fund rr_AverageAnnualReturnSinceInception 0.26%
Inception Date rr_AverageAnnualReturnInceptionDate May 04, 2015
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund | Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 (1.87%)
Life of Fund rr_AverageAnnualReturnSinceInception 0.23%
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond Fund | Class A | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 (0.56%)
Life of Fund rr_AverageAnnualReturnSinceInception 0.43%
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond 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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.32%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.64%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.24%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.40%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 243
3 Years rr_ExpenseExampleYear03 494
5 Years rr_ExpenseExampleYear05 869
10 Years rr_ExpenseExampleYear10 1,924
1 Year rr_ExpenseExampleNoRedemptionYear01 143
3 Years rr_ExpenseExampleNoRedemptionYear03 494
5 Years rr_ExpenseExampleNoRedemptionYear05 869
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,924
One Year rr_AverageAnnualReturnYear01 1.27%
Life of Fund rr_AverageAnnualReturnSinceInception 1.35%
Inception Date rr_AverageAnnualReturnInceptionDate May 04, 2015
Eaton Vance TABS 1-to-10 Year Laddered Municipal Bond 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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.32%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.64%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.24%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.40%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 41
3 Years rr_ExpenseExampleYear03 181
5 Years rr_ExpenseExampleYear05 333
10 Years rr_ExpenseExampleYear10 776
1 Year rr_ExpenseExampleNoRedemptionYear01 41
3 Years rr_ExpenseExampleNoRedemptionYear03 181
5 Years rr_ExpenseExampleNoRedemptionYear05 333
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 776
One Year rr_AverageAnnualReturnYear01 3.31%
Life of Fund rr_AverageAnnualReturnSinceInception 2.41%
Inception Date rr_AverageAnnualReturnInceptionDate May 04, 2015
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.
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Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund

Investment Objective

The Fund’s investment objective is to provide current income exempt from regular federal income tax.

Fees and Expenses of the Fund

The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 20 of this Prospectus and page 21 of the Fund’s Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.75% none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) none 1.00% none

Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund
Class A
Class C
Class I
Management Fees 0.32% 0.32% 0.32%
Distribution and Service (12b-1) Fees 0.25% 1.00% none
Other Expenses 1.50% 1.50% 1.50%
Total Annual Fund Operating Expenses 2.07% 2.82% 1.82%
Expense Reimbursement [1] (1.42%) (1.42%) (1.42%)
Total Annual Fund Operating Expenses After Expense Reimbursement 0.65% 1.40% 0.40%
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.

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 expense 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:

Expense Example - Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 538 962 1,411 2,653
Class C 243 740 1,363 3,045
Class I 41 434 852 2,020
Expense Example, No Redemption - Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 538 962 1,411 2,653
Class C 143 740 1,363 3,045
Class I 41 434 852 2,020

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, the Fund's portfolio turnover was 53% 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 municipal obligations with final maturities of between ten and twenty years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the ten-to-twenty year maturity range (the “weighted investment strategy”). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than ten years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities. With respect to the Fund’s weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 20 years within 90 days of the beginning of the calendar year. The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the ten-to-twenty year maturity range during each year.

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

Bar Chart

During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was 4.08% for the quarter ended June 30, 2016, and the lowest quarterly return was -5.41% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.71%.

Average Annual Total Return as of December 31, 2017

Average Annual Total Returns - Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund
One Year
Life of Fund
Inception Date
Class A 2.36% 3.42% May 04, 2015
Class A | After Taxes on Distributions 2.33% 3.39%  
Class A | After Taxes on Distributions and Sales 2.35% 3.17%  
Class C 5.65% 4.58% May 04, 2015
Class I 7.71% 5.65% May 04, 2015
Bloomberg Barclays 15 Year Municipal Bond Index 6.94% 4.22%  

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on May 4, 2015. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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.

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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000914529
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Investment Objective, Heading rr_ObjectiveHeading

Investment Objective

Investment Objective, Primary rr_ObjectivePrimaryTextBlock

The Fund’s investment objective is to provide current income exempt from regular federal income tax.

Expense, Heading rr_ExpenseHeading

Fees and Expenses of the Fund

Expense, Narrative rr_ExpenseNarrativeTextBlock

The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 20 of this Prospectus and page 21 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, the Fund's portfolio turnover was 53% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 53.00%
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 20 of this Prospectus and page 21 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 expense 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 municipal obligations with final maturities of between ten and twenty years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the ten-to-twenty year maturity range (the “weighted investment strategy”). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than ten years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities. With respect to the Fund’s weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 20 years within 90 days of the beginning of the calendar year. The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the ten-to-twenty year maturity range during each year.

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.

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 municipal obligations with final maturities of between ten and twenty years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligation, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

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

During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was 4.08% for the quarter ended June 30, 2016, and the lowest quarterly return was -5.41% for the quarter ended December 31, 2016. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.71%.

Year to Date Return, Label rr_YearToDateReturnLabel

The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was

Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Year to Date Return rr_BarChartYearToDateReturn (1.71%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

During the period from December 31, 2015 to December 31, 2017, the highest quarterly total return for Class A was

Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.08%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

and the lowest quarterly return was

Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (5.41%)
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 (4.75%) 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 does 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 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, Closing rr_PerformanceTableClosingTextBlock

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on May 4, 2015. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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 TABS 10-to-20 Year Laddered Municipal Bond Fund | Bloomberg Barclays 15 Year Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 6.94%
Life of Fund rr_AverageAnnualReturnSinceInception 4.22%
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.75%
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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 1.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.07%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.42%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.65%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 538
3 Years rr_ExpenseExampleYear03 962
5 Years rr_ExpenseExampleYear05 1,411
10 Years rr_ExpenseExampleYear10 2,653
1 Year rr_ExpenseExampleNoRedemptionYear01 538
3 Years rr_ExpenseExampleNoRedemptionYear03 962
5 Years rr_ExpenseExampleNoRedemptionYear05 1,411
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,653
Annual Return 2016 rr_AnnualReturn2016 0.67%
Annual Return 2017 rr_AnnualReturn2017 7.45%
One Year rr_AverageAnnualReturnYear01 2.36%
Life of Fund rr_AverageAnnualReturnSinceInception 3.42%
Inception Date rr_AverageAnnualReturnInceptionDate May 04, 2015
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund | Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 2.33%
Life of Fund rr_AverageAnnualReturnSinceInception 3.39%
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond Fund | Class A | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 2.35%
Life of Fund rr_AverageAnnualReturnSinceInception 3.17%
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond 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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 1.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.82%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.42%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.40%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 243
3 Years rr_ExpenseExampleYear03 740
5 Years rr_ExpenseExampleYear05 1,363
10 Years rr_ExpenseExampleYear10 3,045
1 Year rr_ExpenseExampleNoRedemptionYear01 143
3 Years rr_ExpenseExampleNoRedemptionYear03 740
5 Years rr_ExpenseExampleNoRedemptionYear05 1,363
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,045
One Year rr_AverageAnnualReturnYear01 5.65%
Life of Fund rr_AverageAnnualReturnSinceInception 4.58%
Inception Date rr_AverageAnnualReturnInceptionDate May 04, 2015
Eaton Vance TABS 10-to-20 Year Laddered Municipal Bond 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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 1.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.82%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.42%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.40%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 41
3 Years rr_ExpenseExampleYear03 434
5 Years rr_ExpenseExampleYear05 852
10 Years rr_ExpenseExampleYear10 2,020
1 Year rr_ExpenseExampleNoRedemptionYear01 41
3 Years rr_ExpenseExampleNoRedemptionYear03 434
5 Years rr_ExpenseExampleNoRedemptionYear05 852
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,020
One Year rr_AverageAnnualReturnYear01 7.71%
Life of Fund rr_AverageAnnualReturnSinceInception 5.65%
Inception Date rr_AverageAnnualReturnInceptionDate May 04, 2015
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.
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Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund

Investment Objective

The Fund’s investment objective is to seek current income exempt from regular federal income tax.

Fees and Expenses of the Fund

The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 15 of this Prospectus and page 22 of the Fund’s Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.75% none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at purchase or redemption) none 1.00% none

Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)

[1]
Annual Fund Operating Expenses - Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund
Class A
Class C
Class I
Management Fees 0.32% 0.32% 0.32%
Distribution and Service (12b-1) Fees 0.25% 1.00% none
Other Expenses 0.13% 0.13% 0.13%
Total Annual Fund Operating Expenses 0.70% 1.45% 0.45%
Expense Reimbursement [1] (0.05%) (0.05%) (0.05%)
Total Annual Fund Operating Expenses After Expense Reimbursement 0.65% 1.40% 0.40%
[1] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.

Expenses in the table above and the Example below reflect the expenses of the Fund and 5-to-15 Year Laddered Municipal Bond Portfolio (the “Portfolio”), the Fund’s master Portfolio.

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 expense 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:

Expense Example - Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 538 683 841 1,300
Class C 243 454 787 1,731
Class I 41 139 247 562
Expense Example, No Redemption - Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 538 683 841 1,300
Class C 143 454 787 1,731
Class I 41 139 247 562

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, the Portfolio's portfolio turnover rate was 35% 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 municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligations, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the five-to-fifteen year maturity range (the “weighted investment strategy”). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than five years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities. With respect to the Fund's weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 15 years within 90 days of the beginning of the calendar year. The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the five-to-fifteen year maturity range during each year.

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.

The Fund currently invests its assets in the Portfolio, a separate registered investment company with substantially the same investment objective and policies as the Fund, but may also invest directly in securities and other instruments.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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 two broad-based securities market indices. 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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

Bar Chart

During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was 5.14% for the quarter ended March 31, 2014, and the lowest quarterly return was -5.10% for the quarter ended June 30, 2013. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.84%.

Average Annual Total Return as of December 31, 2017

Average Annual Total Returns - Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund
One Year
Five Years
Life of Fund
Inception Date
Class A 0.83% 3.12% 5.79% Feb. 01, 2010
Class A | After Taxes on Distributions 0.83% 2.88% 5.24%  
Class A | After Taxes on Distributions and Sales 1.20% 2.75% 4.80%  
Class C 3.97% 3.33% 5.64% Feb. 01, 2010
Class I 6.11% 4.37% 6.70% Feb. 01, 2010
Bloomberg Barclays 10 Year Municipal Bond Index 5.83% 3.13% 4.62%  
Bloomberg Barclays 15 Year Municipal Bond Index 6.94% 3.81% 5.25%  

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on February 1, 2010. Effective April 15, 2015, the Fund changed its name, investment objective and investment strategy to invest at least 80% of its net assets in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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.

[1] Expenses in the table above and the Example below reflect the expenses of the Fund and 5-to-15 Year Laddered Municipal Bond Portfolio (the "Portfolio"), the Fund's master Portfolio.

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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000914529
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond 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 current income exempt from regular federal income tax.

Expense, Heading rr_ExpenseHeading

Fees and Expenses of the Fund

Expense, Narrative rr_ExpenseNarrativeTextBlock

The following tables describe the fees and expenses that you may pay if you buy and hold shares. 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 15 of this Prospectus and page 22 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)

[1]
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, the Portfolio's portfolio turnover rate was 35% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 35.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock

Expenses in the table above and the Example below reflect the expenses of the Fund and 5-to-15 Year Laddered Municipal Bond Portfolio (the “Portfolio”), the Fund’s master Portfolio.

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 15 of this Prospectus and page 22 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 expense 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 municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligations, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

The Fund invests primarily in general obligation or revenue bonds. In pursuing its investment objective, the Fund seeks to weight investment in obligations such that at least 5% and not more than 15% of its net assets are invested in obligations with a final maturity in a year within the five-to-fifteen year maturity range (the “weighted investment strategy”). The Fund does not have a specific target for its average portfolio duration. When a municipal obligation has a final maturity of less than five years, the Fund intends to sell that security within a year and reinvest the proceeds in obligations with longer maturities. With respect to the Fund's weighted investment strategy, the Fund intends to invest at least 5% of its net assets in securities with a final maturity of 15 years within 90 days of the beginning of the calendar year. The Fund’s portfolio is “laddered” by investing in municipal obligations with different final maturities so that some obligations age out of the five-to-fifteen year maturity range during each year.

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may also trade securities to seek to minimize capital gains to shareholders.

The Fund currently invests its assets in the Portfolio, a separate registered investment company with substantially the same investment objective and policies as the Fund, but may also invest directly in securities and other instruments.

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 municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax (the “80% Policy”). For the purposes of the Fund’s 80% Policy, final maturity is defined as (i) the stated final maturity of a callable bond; (ii) the pre-refunded date of an existing pre-refunded bond; (iii) the earliest put date of a put bond; or (iv) the monthly re-set date of a municipal floating-rate bond or obligation. For municipal obligations held by the Fund that become pre-refunded after the Fund purchases such obligations, the final maturity of such obligation remains the stated maturity. All municipal obligations maturing within a calendar year will be defined as having the same final maturity. At least 90% of the Fund’s net assets normally is invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa or higher by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the investment adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the investment adviser (“junk bonds”). For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund will not invest in an obligation if the interest on that obligation is subject to the federal alternative minimum tax. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume.

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer maturities are more sensitive to changes in interest rates than shorter maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter maturities will be less volatile but may provide lower returns than fixed income securities with longer maturities. In a rising interest rate environment, the maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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 two broad-based securities market indices. 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. The Fund’s performance reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Updated Fund performance information can be obtained by visiting www.eatonvance.com.

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 two broad-based securities market indices.

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

During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was 5.14% for the quarter ended March 31, 2014, and the lowest quarterly return was -5.10% for the quarter ended June 30, 2013. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -1.84%.

Year to Date Return, Label rr_YearToDateReturnLabel

The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was

Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Year to Date Return rr_BarChartYearToDateReturn (1.84%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

During the period from December 31, 2010 to December 31, 2017, the highest quarterly total return for Class A was

Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2014
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.14%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

and the lowest quarterly return was

Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2013
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (5.10%)
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 (4.75%) 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 does 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 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, Closing rr_PerformanceTableClosingTextBlock

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class C. Class A, Class C and Class I commenced operations on February 1, 2010. Effective April 15, 2015, the Fund changed its name, investment objective and investment strategy to invest at least 80% of its net assets in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rates and does 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 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 TABS 5-to-15 Year Laddered Municipal Bond Fund | Bloomberg Barclays 10 Year Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 5.83%
Five Years rr_AverageAnnualReturnYear05 3.13%
Life of Fund rr_AverageAnnualReturnSinceInception 4.62%
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Bloomberg Barclays 15 Year Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 6.94%
Five Years rr_AverageAnnualReturnYear05 3.81%
Life of Fund rr_AverageAnnualReturnSinceInception 5.25%
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.75%
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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.13%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.70%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.65%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 538
3 Years rr_ExpenseExampleYear03 683
5 Years rr_ExpenseExampleYear05 841
10 Years rr_ExpenseExampleYear10 1,300
1 Year rr_ExpenseExampleNoRedemptionYear01 538
3 Years rr_ExpenseExampleNoRedemptionYear03 683
5 Years rr_ExpenseExampleNoRedemptionYear05 841
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,300
Annual Return 2011 rr_AnnualReturn2011 17.19%
Annual Return 2012 rr_AnnualReturn2012 10.75%
Annual Return 2013 rr_AnnualReturn2013 (3.62%)
Annual Return 2014 rr_AnnualReturn2014 14.95%
Annual Return 2015 rr_AnnualReturn2015 4.45%
Annual Return 2016 rr_AnnualReturn2016 (0.08%)
Annual Return 2017 rr_AnnualReturn2017 5.85%
One Year rr_AverageAnnualReturnYear01 0.83%
Five Years rr_AverageAnnualReturnYear05 3.12%
Life of Fund rr_AverageAnnualReturnSinceInception 5.79%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2010
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 0.83%
Five Years rr_AverageAnnualReturnYear05 2.88%
Life of Fund rr_AverageAnnualReturnSinceInception 5.24%
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond Fund | Class A | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 1.20%
Five Years rr_AverageAnnualReturnYear05 2.75%
Life of Fund rr_AverageAnnualReturnSinceInception 4.80%
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond 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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.13%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.45%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.40%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 243
3 Years rr_ExpenseExampleYear03 454
5 Years rr_ExpenseExampleYear05 787
10 Years rr_ExpenseExampleYear10 1,731
1 Year rr_ExpenseExampleNoRedemptionYear01 143
3 Years rr_ExpenseExampleNoRedemptionYear03 454
5 Years rr_ExpenseExampleNoRedemptionYear05 787
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,731
One Year rr_AverageAnnualReturnYear01 3.97%
Five Years rr_AverageAnnualReturnYear05 3.33%
Life of Fund rr_AverageAnnualReturnSinceInception 5.64%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2010
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond 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 0.32%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.13%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.45%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.40%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

May 31, 2019

1 Year rr_ExpenseExampleYear01 $ 41
3 Years rr_ExpenseExampleYear03 139
5 Years rr_ExpenseExampleYear05 247
10 Years rr_ExpenseExampleYear10 562
1 Year rr_ExpenseExampleNoRedemptionYear01 41
3 Years rr_ExpenseExampleNoRedemptionYear03 139
5 Years rr_ExpenseExampleNoRedemptionYear05 247
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 562
One Year rr_AverageAnnualReturnYear01 6.11%
Five Years rr_AverageAnnualReturnYear05 4.37%
Life of Fund rr_AverageAnnualReturnSinceInception 6.70%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2010
[1] Expenses in the table above and the Example below reflect the expenses of the Fund and 5-to-15 Year Laddered Municipal Bond Portfolio (the "Portfolio"), the Fund's master Portfolio.
[2] The investment adviser and administrator has agreed to reimburse the Fund's expenses to the extent that Total Annual Fund Operating Expenses exceed 0.65% for Class A shares, 1.40% for Class C shares and 0.40% for Class I shares. This expense reimbursement will continue through May 31, 2019. Any amendment to or termination of this reimbursement would require approval of the Board of Trustees. The expense reimbursement relates to ordinary operating expenses only and does not include expenses such as: brokerage commissions, acquired fund fees and expenses of unaffiliated funds, interest expense, taxes or litigation expenses. Amounts reimbursed may be recouped by the investment adviser and administrator during the same fiscal year to the extent actual expenses are less than the contractual expense cap during such year.
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Eaton Vance High Yield Municipal Income Fund

Investment Objective

The Fund’s investment objective is to provide high current income exempt from regular federal income tax.

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 16 of this Prospectus and page 20 of the Fund’s Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - Eaton Vance High Yield Municipal Income Fund
Class A
Class B
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.75% none none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at time of purchase or redemption) none 5.00% 1.00% none

Annual Fund Operating Expenses (expenses you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - Eaton Vance High Yield Municipal Income Fund
Class A
Class B
Class C
Class I
Management Fees 0.43% 0.43% 0.43% 0.43%
Distribution and Service (12b-1) Fees 0.25% 1.00% 1.00% none
Interest Expense 0.14% 0.14% 0.14% 0.14%
Expenses other than Interest Expense 0.10% 0.10% 0.10% 0.10%
Other Expenses 0.24% 0.24% 0.24% 0.24%
Total Annual Fund Operating Expenses 0.92% 1.67% 1.67% 0.67%

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 expense 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:

Expense Example - Eaton Vance High Yield Municipal Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 564 754 960 1,553
Class B 670 926 1,107 1,777
Class C 270 526 907 1,976
Class I 68 214 373 835
Expense Example, No Redemption - Eaton Vance High Yield Municipal Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 564 754 960 1,553
Class B 170 526 907 1,777
Class C 170 526 907 1,976
Class I 68 214 373 835

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, the Fund's portfolio turnover rate was 21% of the average value of its portfolio.

Principal Investment Strategies

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

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

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio manager also may trade securities to seek to minimize taxable capital gains to shareholders. A portion of the Fund’s distributions generally will be subject to the federal alternative minimum tax. The Fund may not be suitable for investors subject to the federal alternative minimum tax.

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume. 

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations or maturities are more sensitive to changes in interest rates than shorter duration or maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations or maturities will be less volatile but may provide lower returns than fixed income securities with longer durations or maturities. Because the Fund is managed toward an income objective, it may hold more longer duration or maturity obligations and thereby be more exposed to interest rate risk than municipal income funds that are managed with a greater emphasis on total return. In a rising interest rate environment, the durations or maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Derivatives Risk. The Fund’s exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. The use of derivatives can lead to losses because of adverse movements in the price or value of the asset, index, rate or instrument underlying a derivative, due to failure of a counterparty or due to tax or regulatory constraints. Derivatives may create leverage in the Fund, which represents a non-cash exposure to the underlying asset, index, rate or instrument. Leverage can increase both the risk and return potential of the Fund. Derivatives risk may be more significant when derivatives are used to enhance return or as a substitute for a cash investment position, rather than solely to hedge the risk of a position held by the Fund. Use of derivatives involves the exercise of specialized skill and judgment, and a transaction may be unsuccessful in whole or in part because of market behavior or unexpected events. Changes in the value of a derivative (including one used for hedging) may not correlate perfectly with the underlying asset, rate, index or instrument. Derivative instruments traded in over-the-counter markets may be difficult to value, may be illiquid, and may be subject to wide swings in valuation caused by changes in the value of the underlying instrument. If a derivative’s counterparty is unable to honor its commitments, the value of Fund shares may decline and the Fund could experience delays in the return of collateral or other assets held by the counterparty. The loss on derivative transactions may substantially exceed the initial investment, particularly when there is no stated limit on the Fund’s use of derivatives. A derivative investment also involves the risks relating to the asset, index, rate or instrument underlying the investment.

Leverage Risk. Certain fund transactions may give rise to leverage. Leverage can result from a non-cash exposure to an asset, index, rate or instrument. Leverage can increase both the risk and return potential of the Fund. The Fund is required to segregate liquid assets or otherwise cover the Fund’s obligation created by a transaction that may give rise to leverage. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage may cause the Fund’s share price to be more volatile than if it had not been leveraged, as certain types of leverage may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. The loss on leveraged investments may substantially exceed the initial investment.

Risk of Residual Interest Bonds. The Fund may enter into residual interest bond transactions, which expose the Fund to leverage and greater risk than an investment in a fixed-rate municipal bond. The interest payments that the Fund receives on the residual interest bonds acquired in such transactions vary inversely with short-term interest rates, normally decreasing when short-term rates increase. The value and market for residual interest bonds are volatile and such bonds may have limited liquidity. As required by applicable accounting standards, the Fund records interest expense as a liability with respect to floating-rate notes and also records offsetting interest income in an amount equal to this expense.

Sector and Geographic Risk. Because the Fund may invest a significant portion of its assets in a state and/or U.S. territory and in certain types of municipal obligations and/or in certain sectors, the value of Fund shares may be affected by events that adversely affect a state, U.S. territory, sector or type of obligation and may fluctuate more than that of a fund that invests more broadly. General obligation bonds issued by municipalities are adversely affected by economic downturns and any resulting decline in tax revenues. The Commonwealth of Puerto Rico and its related issuers continue to experience financial difficulties and rating agency downgrades, and numerous issuers have entered Title III of the Puerto Rico Oversight, Management and Economic Stability Act, which is similar to bankruptcy protection, through which the Commonwealth of Puerto Rico can restructure its debt. Puerto Rico's short-term financial difficulties were further impacted by a hurricane in 2017. See “Credit Risk” and “Lower Rated Investments Risk” above.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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 two broad-based securities market indices. 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.

Bar Chart

For the ten years ended December 31, 2017, the highest quarterly total return for Class A was 16.76% for the quarter ended September 30, 2009, and the lowest quarterly return was -27.80% for the quarter ended December 31, 2008. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -0.94%.

Average Annual Total Return as of December 31, 2017

Average Annual Total Returns - Eaton Vance High Yield Municipal Income Fund
One Year
Five Years
Ten Years
Class A 2.85% 3.97% 3.88%
Class A | After Taxes on Distributions 2.71% 3.86% 3.81%
Class A | After Taxes on Distributions and Sales 3.11% 3.91% 3.94%
Class B 2.17% 3.87% 3.61%
Class C 6.22% 4.23% 3.62%
Class I 8.22% 5.25% 4.66%
Bloomberg Barclays Municipal Bond Index 5.45% 3.02% 4.45%
Bloomberg Barclays High Yield Long (22+) Municipal Bond Index 13.32% 5.60% 6.32%

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class B and Class C. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and the 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 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.

XML 26 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000914529
Eaton Vance High Yield Municipal Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Investment Objective, Heading rr_ObjectiveHeading

Investment Objective

Investment Objective, Primary rr_ObjectivePrimaryTextBlock

The Fund’s investment objective is to provide high current income exempt from regular federal income tax.

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 16 of this Prospectus and page 20 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, the Fund's portfolio turnover rate was 21% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 21.00%
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 16 of this Prospectus and page 20 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 expense 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 circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal obligations (including notes and tax-exempt commercial paper) issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (the “80% Policy”). The Fund may invest without limit in obligations the income from which is subject to the federal alternative minimum tax. The Fund will primarily invest in “high yield” municipal obligations under normal market conditions. For this purpose, “high yield” municipal obligations are municipal obligations rated at the time of investment either Baa or lower by Moody’s Investors Service, Inc. (“Moody’s”), or BBB or lower by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”) or, if unrated, determined by the investment adviser to be of comparable quality. “High yield” municipal obligations rated below investment grade are also known as “junk bonds.” The Fund may invest in securities in any rating category, including those in default. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the lowest rating will be used for any Fund rating restrictions. The Fund may also invest a portion of its assets in municipal obligations that are not paying current income in anticipation of possible future income. The Fund may invest up to 20% of its net assets in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities. The Fund may purchase or sell derivative instruments (such as residual interest bonds, futures contracts and options thereon, interest rate swaps, and forward rate contracts) for hedging purposes, to seek total return or as a substitute for the purchase or sale of securities. There is no stated limit on the Fund’s use of derivatives.

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

The investment adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the investment adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio manager also may trade securities to seek to minimize taxable capital gains to shareholders. A portion of the Fund’s distributions generally will be subject to the federal alternative minimum tax. The Fund may not be suitable for investors subject to the federal alternative minimum tax.

Strategy Portfolio Concentration rr_StrategyPortfolioConcentration

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

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. No active trading market may exist for certain investments, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets. Fixed-income markets may experience periods of relatively high volatility in an environment where U.S. treasury yields are rising.

Municipal Obligation Risk. The amount of public information available about municipal obligations is generally less than for corporate equities or bonds, meaning that the investment performance of municipal obligations may be more dependent on the analytical abilities of the investment adviser than stock or corporate bond investments. The secondary market for municipal obligations also tends to be less well-developed and less liquid than many other securities markets, which may limit the Fund’s ability to sell its municipal obligations at attractive prices. The differences between the price at which an obligation can be purchased and the price at which it can be sold may widen during periods of market distress. Less liquid obligations can become more difficult to value and be subject to erratic price movements. The increased presence of nontraditional participants (such as proprietary trading desks of investment banks and hedge funds) or the absence of traditional participants (such as individuals, insurance companies, banks and life insurance companies) in the municipal markets may lead to greater volatility in the markets because non-traditional participants may trade more frequently or in greater volume. 

Interest Rate Risk. In general, the value of income securities will fluctuate based on changes in interest rates. The value of these securities is likely to increase when interest rates fall and decline when interest rates rise. Generally, securities with longer durations or maturities are more sensitive to changes in interest rates than shorter duration or maturity securities, causing them to be more volatile. Conversely, fixed income securities with shorter durations or maturities will be less volatile but may provide lower returns than fixed income securities with longer durations or maturities. Because the Fund is managed toward an income objective, it may hold more longer duration or maturity obligations and thereby be more exposed to interest rate risk than municipal income funds that are managed with a greater emphasis on total return. In a rising interest rate environment, the durations or maturities of income securities that have the ability to be prepaid or called by the issuer may be extended. In a declining interest rate environment, the proceeds from prepaid or maturing instruments may have to be reinvested at a lower interest rate.

Credit Risk. Investments in municipal obligations and other debt obligations (referred to below as “debt instruments”) are subject to the risk of non-payment of scheduled principal and interest. Changes in economic conditions or other circumstances may reduce the capacity of the party obligated to make principal and interest payments on such instruments and may lead to defaults. Such non-payments and defaults may reduce the value of Fund shares and income distributions. The value of debt instruments also may decline because of concerns about the issuer’s ability to make principal and interest payments. In addition, the credit ratings of debt instruments may be lowered if the financial condition of the party obligated to make payments with respect to such instruments deteriorates. In order to enforce its rights in the event of a default, bankruptcy or similar situation, the Fund may be required to retain legal or similar counsel, which may increase the Fund’s operating expenses and adversely affect net asset value. Municipal obligations may be insured as to principal and interest payments. If the claims-paying ability or other rating of the insurer is downgraded by a rating agency, the value of such obligations may be negatively affected.

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.

Derivatives Risk. The Fund’s exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. The use of derivatives can lead to losses because of adverse movements in the price or value of the asset, index, rate or instrument underlying a derivative, due to failure of a counterparty or due to tax or regulatory constraints. Derivatives may create leverage in the Fund, which represents a non-cash exposure to the underlying asset, index, rate or instrument. Leverage can increase both the risk and return potential of the Fund. Derivatives risk may be more significant when derivatives are used to enhance return or as a substitute for a cash investment position, rather than solely to hedge the risk of a position held by the Fund. Use of derivatives involves the exercise of specialized skill and judgment, and a transaction may be unsuccessful in whole or in part because of market behavior or unexpected events. Changes in the value of a derivative (including one used for hedging) may not correlate perfectly with the underlying asset, rate, index or instrument. Derivative instruments traded in over-the-counter markets may be difficult to value, may be illiquid, and may be subject to wide swings in valuation caused by changes in the value of the underlying instrument. If a derivative’s counterparty is unable to honor its commitments, the value of Fund shares may decline and the Fund could experience delays in the return of collateral or other assets held by the counterparty. The loss on derivative transactions may substantially exceed the initial investment, particularly when there is no stated limit on the Fund’s use of derivatives. A derivative investment also involves the risks relating to the asset, index, rate or instrument underlying the investment.

Leverage Risk. Certain fund transactions may give rise to leverage. Leverage can result from a non-cash exposure to an asset, index, rate or instrument. Leverage can increase both the risk and return potential of the Fund. The Fund is required to segregate liquid assets or otherwise cover the Fund’s obligation created by a transaction that may give rise to leverage. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage may cause the Fund’s share price to be more volatile than if it had not been leveraged, as certain types of leverage may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. The loss on leveraged investments may substantially exceed the initial investment.

Risk of Residual Interest Bonds. The Fund may enter into residual interest bond transactions, which expose the Fund to leverage and greater risk than an investment in a fixed-rate municipal bond. The interest payments that the Fund receives on the residual interest bonds acquired in such transactions vary inversely with short-term interest rates, normally decreasing when short-term rates increase. The value and market for residual interest bonds are volatile and such bonds may have limited liquidity. As required by applicable accounting standards, the Fund records interest expense as a liability with respect to floating-rate notes and also records offsetting interest income in an amount equal to this expense.

Sector and Geographic Risk. Because the Fund may invest a significant portion of its assets in a state and/or U.S. territory and in certain types of municipal obligations and/or in certain sectors, the value of Fund shares may be affected by events that adversely affect a state, U.S. territory, sector or type of obligation and may fluctuate more than that of a fund that invests more broadly. General obligation bonds issued by municipalities are adversely affected by economic downturns and any resulting decline in tax revenues. The Commonwealth of Puerto Rico and its related issuers continue to experience financial difficulties and rating agency downgrades, and numerous issuers have entered Title III of the Puerto Rico Oversight, Management and Economic Stability Act, which is similar to bankruptcy protection, through which the Commonwealth of Puerto Rico can restructure its debt. Puerto Rico's short-term financial difficulties were further impacted by a hurricane in 2017. See “Credit Risk” and “Lower Rated Investments Risk” above.

Risks of Principal Only Investments. Principal only investments entitle the Fund to receive the stated value of such investment when held to maturity. The values of principal only investments are subject to greater fluctuation in response to changes in market interest rates than obligations that pay interest currently. The Fund will accrue income on these investments and distribute that income each year. The Fund may be required to sell other investments to obtain cash needed for such income distributions.

U.S. Government Securities Risk. Although certain U.S. Government-sponsored agencies (such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association) may be chartered or sponsored by acts of Congress, their securities are neither issued nor guaranteed by the U.S. Treasury. U.S. Treasury securities generally have a lower return than other obligations because of their higher credit quality and market liquidity.

Tax Risk. Income from tax-exempt municipal obligations could be declared taxable because of changes in tax laws, adverse interpretations by the relevant taxing authority or the non-compliant conduct of the issuer of an obligation.

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 two broad-based securities market indices. 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 two broad-based securities market indices.

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 16.76% for the quarter ended September 30, 2009, and the lowest quarterly return was -27.80% for the quarter ended December 31, 2008. The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was -0.94%.

Year to Date Return, Label rr_YearToDateReturnLabel

The year-to-date total return through the end of the most recent calendar quarter (December 31, 2017 to March 31, 2018) was

Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Year to Date Return rr_BarChartYearToDateReturn (0.94%)
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 16.76%
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 (27.80%)
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 (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class B and Class C.

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the highest historical individual federal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and the 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 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, Closing rr_PerformanceTableClosingTextBlock

These returns reflect the maximum sales charge for Class A (4.75%) and any applicable contingent deferred sales charge (“CDSC”) for Class B and Class C. Investors cannot invest directly in an Index.

After-tax returns are calculated using the highest historical individual federal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and the 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 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 High Yield Municipal Income Fund | Bloomberg Barclays Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 5.45%
Five Years rr_AverageAnnualReturnYear05 3.02%
Ten Years rr_AverageAnnualReturnYear10 4.45%
Eaton Vance High Yield Municipal Income Fund | Bloomberg Barclays High Yield Long (22+) Municipal Bond Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

One Year rr_AverageAnnualReturnYear01 13.32%
Five Years rr_AverageAnnualReturnYear05 5.60%
Ten Years rr_AverageAnnualReturnYear10 6.32%
Eaton Vance High Yield Municipal Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of net asset value at time of purchase or redemption) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Interest Expense rr_Component1OtherExpensesOverAssets 0.14%
Expenses other than Interest Expense rr_Component2OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.24%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.92%
1 Year rr_ExpenseExampleYear01 $ 564
3 Years rr_ExpenseExampleYear03 754
5 Years rr_ExpenseExampleYear05 960
10 Years rr_ExpenseExampleYear10 1,553
1 Year rr_ExpenseExampleNoRedemptionYear01 564
3 Years rr_ExpenseExampleNoRedemptionYear03 754
5 Years rr_ExpenseExampleNoRedemptionYear05 960
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,553
Annual Return 2008 rr_AnnualReturn2008 (37.00%)
Annual Return 2009 rr_AnnualReturn2009 44.98%
Annual Return 2010 rr_AnnualReturn2010 2.39%
Annual Return 2011 rr_AnnualReturn2011 11.64%
Annual Return 2012 rr_AnnualReturn2012 15.38%
Annual Return 2013 rr_AnnualReturn2013 (5.57%)
Annual Return 2014 rr_AnnualReturn2014 18.08%
Annual Return 2015 rr_AnnualReturn2015 4.81%
Annual Return 2016 rr_AnnualReturn2016 1.14%
Annual Return 2017 rr_AnnualReturn2017 7.95%
One Year rr_AverageAnnualReturnYear01 2.85%
Five Years rr_AverageAnnualReturnYear05 3.97%
Ten Years rr_AverageAnnualReturnYear10 3.88%
Eaton Vance High Yield Municipal Income Fund | Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 2.71%
Five Years rr_AverageAnnualReturnYear05 3.86%
Ten Years rr_AverageAnnualReturnYear10 3.81%
Eaton Vance High Yield Municipal Income Fund | Class A | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 3.11%
Five Years rr_AverageAnnualReturnYear05 3.91%
Ten Years rr_AverageAnnualReturnYear10 3.94%
Eaton Vance High Yield Municipal Income Fund | Class B  
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 time of purchase or redemption) rr_MaximumDeferredSalesChargeOverOther 5.00%
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Interest Expense rr_Component1OtherExpensesOverAssets 0.14%
Expenses other than Interest Expense rr_Component2OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.24%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.67%
1 Year rr_ExpenseExampleYear01 $ 670
3 Years rr_ExpenseExampleYear03 926
5 Years rr_ExpenseExampleYear05 1,107
10 Years rr_ExpenseExampleYear10 1,777
1 Year rr_ExpenseExampleNoRedemptionYear01 170
3 Years rr_ExpenseExampleNoRedemptionYear03 526
5 Years rr_ExpenseExampleNoRedemptionYear05 907
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,777
One Year rr_AverageAnnualReturnYear01 2.17%
Five Years rr_AverageAnnualReturnYear05 3.87%
Ten Years rr_AverageAnnualReturnYear10 3.61%
Eaton Vance High Yield Municipal Income 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 time of purchase or redemption) rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Interest Expense rr_Component1OtherExpensesOverAssets 0.14%
Expenses other than Interest Expense rr_Component2OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.24%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.67%
1 Year rr_ExpenseExampleYear01 $ 270
3 Years rr_ExpenseExampleYear03 526
5 Years rr_ExpenseExampleYear05 907
10 Years rr_ExpenseExampleYear10 1,976
1 Year rr_ExpenseExampleNoRedemptionYear01 170
3 Years rr_ExpenseExampleNoRedemptionYear03 526
5 Years rr_ExpenseExampleNoRedemptionYear05 907
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,976
One Year rr_AverageAnnualReturnYear01 6.22%
Five Years rr_AverageAnnualReturnYear05 4.23%
Ten Years rr_AverageAnnualReturnYear10 3.62%
Eaton Vance High Yield Municipal Income 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 time of purchase or redemption) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Interest Expense rr_Component1OtherExpensesOverAssets 0.14%
Expenses other than Interest Expense rr_Component2OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.24%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.67%
1 Year rr_ExpenseExampleYear01 $ 68
3 Years rr_ExpenseExampleYear03 214
5 Years rr_ExpenseExampleYear05 373
10 Years rr_ExpenseExampleYear10 835
1 Year rr_ExpenseExampleNoRedemptionYear01 68
3 Years rr_ExpenseExampleNoRedemptionYear03 214
5 Years rr_ExpenseExampleNoRedemptionYear05 373
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 835
One Year rr_AverageAnnualReturnYear01 8.22%
Five Years rr_AverageAnnualReturnYear05 5.25%
Ten Years rr_AverageAnnualReturnYear10 4.66%
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Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Jan. 31, 2018
Registrant Name dei_EntityRegistrantName EATON VANCE MUNICIPALS TRUST II
Central Index Key dei_EntityCentralIndexKey 0000914529
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate May 30, 2018
Document Effective Date dei_DocumentEffectiveDate Jun. 01, 2018
Prospectus Date rr_ProspectusDate Jun. 01, 2018
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