Buy 3 Eaton Vance Mutual Funds Now
Eaton Vance, which is now part of Morgan Stanley, offers mutual fund investment opportunities based on diversity, adaptability and strong performance. These funds provide a balanced portfolio by offering a range of strategies that cover equity, income and alternatives. Their approach to market dynamics is flexible and adjustable, supported by research that prioritizes maximizing returns while effectively managing risks. All these make Eaton Vance mutual funds reliable for investment.
Investing in Eaton Vance mutual funds seems judicious as of now. Also, mutual funds, in general, diversify portfolios without several commission charges that are mainly associated with stock purchases and trim transaction costs (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
We have, thus, chosen three Eaton Vance mutual funds that investors should buy now for the long term. These funds possess a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and expense ratios considerably lower than the category average. So, these funds have given a comparatively strong performance and lower fees.
Parametric Commodity Strategy EIPCX invests in commodity-linked derivatives instruments such as commodity index-linked swap agreements, futures, and commodity-linked notes backed by fixed-income securities, including U.S. Treasury securities and money market instruments.
Thomas C. Seto has been the lead manager of EIPCX since May 24, 2011. Most of the fund’s holdings were in short-term investments (88%), others (7.7%) and SPDR Gold MiniShares (4.3%) as of Jun 30, 2023.
EIPCX’s 3-year and 5-year annualized returns are 19% and 11.3%, respectively. EIPCX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.67%.
To see how this fund performed compared to its category and other 1 and 2 Ranked Mutual Funds, please click here.
Parametric Dividend Income Fund EAPDX invests most of its assets in equity securities, which consist of common stocks of U.S. companies chosen from the Russell 3000 Index.
Thomas C. Seto has been the lead manager of EAPDX since Mar 25, 2014. Most of the fund’s holdings were in Texas Pacific Land Corp (0.7%), CVB Financial Corp (0.7%) and Eaton Corp Plc (0.7%) as of Aug 30, 2023.
EAPDX’s 3-year and 5-year returns are 11.4% and 6.5%, respectively. EAPDX has a Zacks Mutual Fund Rank #2 and an annual expense ratio of 0.65%.
Eaton Vance Tax Managed Growth Fund EXTGX seeks long-term, after-tax returns by investing in a diversified portfolio of equity securities. EXTGX advisors also invest in domestic and foreign securities.
Kenneth D Zinner has been the lead manager of EXTGX since Jun 30, 2021. Most of the fund’s holdings were in companies like Apple Inc. (8.1%), Microsoft Corp (5.6%) and Amazon.com, Inc. (3.6%) as of Jun 30, 2023.
EXTGX’s 3-year and 5-year returns are 9.5% and 10.5%, respectively. EXTGX has a Zacks Mutual Fund Rank #2 and an annual expense ratio of 0.89%.
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