Asset management giant Eaton Vance (EV) has become quite well known for its aptitude at managing a variety of strategic funds over the years and the company's closed-end funds are no different. These funds often have the goal of generating income for shareholders using a variety of different strategies. One of the more traditional strategies is investing in a portfolio of dividend-paying stocks, which is the general strategy used by the Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY). This is generally considered to be one of the better equity income