ETY-Eaton Vance Tax-Managed Diversified Equity Income Fund : Overview

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The Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is a diversified closed-end management investment company. The Fund’s primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. The Fund seeks to achieve its objective by investing in common stocks that pay dividends and qualify for favorable federal tax treatment

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Parent Company

Eaton Vance Corp. is an American investment management firm based in Boston, Massachusetts. It is one of the oldest investment companies in the United States, with a history dating back to 1924. Through five primary investment affiliates, Eaton Vance provides investment products to individuals, institutions and financial professionals in the US, including wealth management, defined contribution investment only and sub-advisory services. In 2005 it opened an office in London. In October 2020, Morgan Stanley announced its intention to acquire the company for $7 billion.

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Performance

Over the past year, the Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) has returned 10.31 percent. 13.40 percent over the past three years, 14.16 percent over the last five and 13.87 percent over the last 10 years. 

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Category

The fund falls under the Opt Arb/Opt Strat category. Over the long haul, the fund’s total return has been well above the category average.

The fund has returned 14.16 percent over the past five years and 13.87 percent over the past decade.

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Top Holdings

These are the top 10 holdings of the Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY): Microsoft Corp, Apple INC, Amazon.com INC, Facebook INC CL A, Alphabet INC CL C, Verizon Communications INC, Danaher Corp, Visa INC CL A, Abbott Laboratories, Procter & Gamble Co.

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Ranking

The Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is not ranked.

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Management

Since its inception, the Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY)  has been managed by Michael Allison, a vice president of Eaton Vance Management, a director of equity strategy implementation and a structured equity portfolio manager on a number of Eaton Vance’s global and domestic equity income and tax-managed equity portfolios. Since 2019, G.R. Nelson has also joined in as a manager.

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Fees

Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) has an expense ratio of 1.07 percent.

ETY – Eaton Vance Tax-Managed Diversified Equity Income Fund: Risk

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived and well-executed options program may be adversely affected by market behavior or unexpected events. The exercise of index call options sold by the Fund may require the Fund to sell portfolio securities to generate cash at inopportune times or for unattractive prices. In addition, the trading price of options may be adversely affected if the market for such options becomes less liquid or smaller. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund’s ability to utilize various tax-managed techniques may be curtailed or eliminated in the future by tax legislation or regulation. 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. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The Fund may engage in other investment practices that may involve additional risks.

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