Cadrenal Therapeutics Highlights New Research on Anticoagulation Burden for LVAD Patients

ETO - Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

ETO ETO Quote ETO Short ETO News ETO Articles ETO Message Board

May, 30 2025 04:30 PM
|
Business Wire

Eaton Vance recently published estimates regarding the sources of distributions for its closed-end funds for May 2025, as per its managed distribution plan approved by the Board of Trustees and sanctioned by the U.S. Securities and Exchange Commission. The press release serves as a notification for shareholders, detailing expected monthly cash distribution amounts per common share for various funds.

For example, the Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) plans to distribute $0.1338 per share, entirely sourced from net realized long-term capital gains. In contrast, the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) will distribute $0.1523 per share, again solely from long-term capital gains. Other funds, such as the Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), will see distributions of $0.0651 per share, with a notable return of capital playing a significant role, as it accounted for 100% of the current distribution.

Investors should be wary that the total regular distribution might fluctuate due to market conditions. Importantly, a portion of these distributions may be characterized as returns of capital, indicating that they could be payouts of the original investment rather than generated income or yield. This can complicate tax reporting, as definitive tax characterizations will only be determined at year-end.

The release further highlights performance metrics such as annual total returns at net asset value (NAV) and annualized current distribution rates as expressed in percentages. The estimates serve primarily as informational guidance, pending further evaluation over the fiscal year, with official reporting to be issued via Form 1099-DIV for taxation purposes.

MWN AI Analysis *

In evaluating the recent distribution announcements from Eaton Vance's closed-end funds as of May 2025, investors should exercise caution, particularly in light of the significant portion of distributions characterized as returns of capital. Each fund, including popular choices like the Eaton Vance Enhanced Equity Income Fund (EOI) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV), has disclosed that nearly all distributions derive from realized long-term capital gains rather than income, with some funds reporting return of capital components as high as 96%.

The implications of this are twofold. First, while high monthly distributions might be appealing, they can signify that funds are returning investors' own capital rather than generating income through successful investments. This can lead to a gradual depreciation of shareholder value over time if the trend continues, as the funds effectively pay investors with their invested capital.

Second, considering the cumulative annual performance figures, several funds show concerning negative returns year-to-date, indicating market volatility that could challenge future distributions. For instance, the EOI reported a cumulative total return of -3.25% and an 8.59% annualized distribution rate relative to NAV, highlighting inconsistent performance.

Investors contemplating entry or continuation with Eaton Vance closed-end funds should assess their risk tolerance and focus on the underlying fund fundamentals beyond just attractive cash flows. It may also be prudent to consider diversification or alternative investments that offer a more reliable income stream. Ultimately, the exhibited pattern of relying heavily on capital gains and returns of capital prompts a thorough review of long-term investment strategies and the potential impact on overall wealth accumulation.

* MWN AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.

The Eaton Vance closed-end funds listed below released today the estimated sources of their May distributions (each a “Fund”). This press release is issued as required by the Funds’ managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the May distribution. It is not determinative of the tax character of a Fund’s distributions for the 2025 calendar year. Shareholders should note that each Fund’s total regular distribution amount is subject to change as a result of market conditions or other factors.

IMPORTANT DISCLOSURE : You should not draw any conclusions about each Fund’s investment performance from the amount of this distribution or from the terms of each Fund’s Plan. Each Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in each Fund is paid back to you. A return of capital distribution does not necessarily reflect each Fund’s investment performance and should not be confused with “yield” or “income.” The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The following tables set forth estimates of the sources of each Fund’s May distribution and its cumulative distributions paid for its fiscal year through May 30, 2025, and information relating to each Fund’s performance based on its net asset value (NAV) for certain periods.

Eaton Vance Enhanced Equity Income Fund (NYSE: EOI)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.1338
Distribution Frequency:	Monthly
Fiscal Year End:	September
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0000	0.00%	$0.0000	0.00%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.1338	100.00%	$1.0704	100.00%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.1338	100.00%	$1.0704	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	14.12%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.59%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-3.25%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	5.01%

Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.1523
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0000	0.00%	$0.0000	0.00%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.1523	100.00%	$0.7615	100.00%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.0%
Total per common share	$0.1523	100.00%	$0.7615	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	13.89%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.61%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-6.35%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	2.87%

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.0651
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0000	0.00%	$0.0000	0.00%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.1178	36.2%
Return of Capital or Other Capital Source(s)	$0.0651	100.00%	$0.2077	63.8%
Total per common share	$0.0651	100.00%	$0.3255	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	9.12%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.52%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-2.92%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	2.84%

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.1646
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0263	16.0%	$0.1970	17.1%
Net Realized Short-Term Capital Gains	$0.0000	0.0%	$0.0600	5.2%
Net Realized Long-Term Capital Gains	$0.1383	84.0%	$0.8952	77.7%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.1646	100.00%	$1.1522	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	12.45%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.17%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-4.17%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	4.08%

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (NYSE: ETO)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.1733
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0872	50.3%	$0.2669	22.0%
Net Realized Short-Term Capital Gains	$0.0000	0.0%	$0.0000	0.0%
Net Realized Long-Term Capital Gains	$0.0861	49.7%	$0.9462	78.0%
Return of Capital or Other Capital Source(s)	$0.0000	0.0%	$0.0000	0.0%
Total per common share	$0.1733	100.00%	$1.2131	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	14.17%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	7.85%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-0.44%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	3.92%

Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.1058
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0047	4.4%	$0.0222	4.2%
Net Realized Short-Term Capital Gains	$0.0000	0.0%	$0.0000	0.0%
Net Realized Long-Term Capital Gains	$0.0000	0.0%	$0.0000	0.0%
Return of Capital or Other Capital Source(s)	$0.1011	95.6%	$0.5068	95.8%
Total per common share	$0.1058	100.00%	$0.5290	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	11.41%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.82%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-4.80%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	2.94%

Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.0993
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0026	2.6%	$0.0091	1.8%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Return of Capital or Other Capital Source(s)	$0.0967	97.4%	$0.4874	98.2%
Total per common share	$0.0993	100.00%	$0.4965	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	10.98%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.74%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-6.12%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	2.91%

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.0992
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0000	0.00%	$0.0000	0.00%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0992	100.00%	$0.6944	100.0%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.0992	100.0%	$0.6944	100.0%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	14.27%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.50%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-2.28%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	4.25%

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE: ETW)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.0664
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0107	16.1%	$0.0389	11.7%
Net Realized Short-Term Capital Gains	$0.0000	0.0%	$0.0000	0.0%
Net Realized Long-Term Capital Gains	$0.0000	0.0%	$0.0000	0.0%
Return of Capital or Other Capital Source(s)	$0.0557	83.9%	$0.2932	88.3%
Total per common share	$0.0664	100.00%	$0.3321	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	9.86%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	8.83%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		0.13%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	2.94%

Eaton Vance Tax-Advantaged Global Dividend Income (NYSE: ETG)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.1293
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0891	68.9%	$0.2217	24.5%
Net Realized Short-Term Capital Gains	$0.0000	0.0%	$0.0000	0.0%
Net Realized Long-Term Capital Gains	$0.0000	0.0%	$0.4838	53.5%
Return of Capital or Other Capital Source(s)	$0.0402	31.1%	$0.1996	22.0%
Total per common share	$0.1293	100.00%	$0.9051	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	14.74%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	7.86%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		0.38%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	3.93%



Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG)
Distribution Period:	May- 2025
Distribution Amount per Common Share:	$0.0657
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0056	8.6%	$0.0634	13.8%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0045	1.0%
Net Realized Long-Term Capital Gains	$0.0407	61.9%	$0.3726	81.0%
Return of Capital or Other Capital Source(s)	$0.0194	29.5%	$0.0194	4.2%
Total per common share	$0.0657	100.00%	$0.4599	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2025 ¹	12.68%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2025 ²	9.02%
Cumulative total return at NAV for the fiscal year through April 30, 2025 ³		-0.41%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2025 ⁴	4.51%

¹ Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on April 30, 2025
² The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund's NAV as of April 30, 2025
³ Cumulative total return at NAV is the percentage change in the Fund's NAV for the period from the beginning of its fiscal year to April 30, 2025 including distributions paid and assuming reinvestment of those distributions.
⁴ Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to April 30, 2025 measured on the dollar value of the distributions in year-to-date period as a percentage of the Fund's NAV as of April 30, 2025

View source version on businesswire.com: https://www.businesswire.com/news/home/20250530902434/en/

Investor: (800) 262-1122

MWN AI FAQ **

How does the distribution strategy of the Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest EXG impact its long-term investment performance compared to traditional equity funds?

The Eaton Vance Tax-Managed Global Diversified Equity Income Fund's distribution strategy, focused on tax-efficient income generation and capital appreciation, may enhance long-term performance by reducing tax liabilities compared to traditional equity funds that typically do not prioritize tax efficiency.

Given the estimated return of capital in the Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest EXG, how should investors adjust their income expectations for the 20fiscal year?

Investors should lower their income expectations for the 2025 fiscal year in the Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) based on the estimated return of capital, which may indicate reduced income available for distribution.

What factors contribute to the deviations in net investment income for the Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest EXG, and how can shareholders anticipate changes in future distributions?

Factors contributing to deviations in net investment income for the Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) include market performance, changes in dividend yields, and fluctuations in interest rates, while shareholders can anticipate future distribution changes by monitoring these economic indicators and fund performance metrics.

How does the recent performance data of the Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest EXG align with broader market trends, particularly in the context of its average annual total return?

The Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) has mirrored broader market trends with its average annual total return reflecting sensitivity to global equity performance, highlighting its alignment with market fluctuations and investor sentiment.

** MWN AI Questions are based on asking OpenAI to ask and answer four questions about this news release.

Market Wire News is a media platform, the information on this page was provided by Business Wire via Quote Media. Read our full disclaimer.

Link your X Account to Market Wire News

When you linking your X Account to Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your X account.

Be alerted of any news about your stocks and see what other stocks are trending.

Contact the Author

Stock Information

Get ETO Alerts

News, Short Squeeze, Breakout and More Instantly...

Eaton Vance Tax-Advantage Global Dividend Opp Company Name:

ETO Stock Symbol:

NYSE Market:

0.0% G/L:

$27.77 Last:

24,625 Volume:

$27.85 Open:

$27.77 Close:

Eaton Vance Tax-Advantage Global Dividend Opp Logo

ETO - ETO - Historical Price Movements Surrounding Earnings

2025-06-24 18:46:46 ET Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO) - This analysis reviews how the stock price reacted during the last 12 earnings periods. The average open to high on the day of earnings was 1.10%. The average open to low on the day of earnin...
ETO - ETO - Historical Earnings Price Analysis

2025-06-24 18:41:47 ET Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO) - Following Earnings Price Analysis was done using last 12 quarters historical earnings. Opening Gap Moves The historical opening gap move in ETO stock price following earnings has averaged &#...
ETO - (ETO) Investment Analysis

2025-06-14 04:04:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...

ETO - Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

Tags

Share This Post

Link your X Account to Market Wire News

Contact the Author