Eaton Vance Multi-Asset Credit Fund Investment Analysis

The Eaton Vance Multi-Asset Credit Fund is a diversified investment portfolio that aims to provide a stable source of returns.

This fund invests in a mix of high-yield bonds, investment-grade bonds, and other types of debt securities.

The fund's investment strategy is designed to provide a balance of income and capital appreciation.

It has a relatively low expense ratio compared to other similar funds.

The Eaton Vance Multi-Asset Credit Fund has a legal name of Eaton Vance Multi-Asset Credit Fund.

The fund is part of the Eaton Vance family and was first introduced on October 31, 2011. It has a total of 4,588,878 shares outstanding.

The fund's share class is A, and it's priced in USD, with the US being the country where it's domiciled. The current manager of the fund is Justin Bourgette.

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The fund in question is the Portfolio Holdings EAAMX, and it's interesting to note that its top holding is in Cash and Equivalents, making up 4.23% of the portfolio with a market value of $21.5 million.

The fund's portfolio is diversified across various sectors, including Corporate and Securitized, which together account for a significant portion of its holdings. This suggests that the fund is taking a cautious approach to investing.

A closer look at the fund's top 10 holdings reveals a mix of cash and securities, with the majority being in Corporate and Securitized sectors. This is evident from the table below:

Overall, the fund's holdings suggest a conservative investment strategy, with a significant portion of its assets in cash and low-risk securities.

The distribution details of this fund are quite interesting. The total return over the past year is 1.3%, which might not be spectacular, but it's still a positive sign.

The fund's annualized returns over the past three and five years are 5.0% and 3.6%, respectively. These figures suggest that the fund has been performing steadily over time.

Here are the key distribution details at a glance:

The fund distributes capital gains annually, which is a common practice among many investment funds. This means that investors can expect to receive a distribution of capital gains at the end of each year.

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The net income ratio is 3.70%, which indicates how much of the fund's income is distributed to shareholders. In this case, it's a relatively small portion of the total income.

The fund also distributes dividends, with a yield of 6.7%. This is a significant return on investment, especially considering the monthly distribution frequency.

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Fees can be a major obstacle for investors, and this fund is no exception. Its lofty fees put it in the second-highest quintile among its peers, making it a high hurdle to clear.

Pricing is a key factor in a fund's overall performance, and this fund's cost advantage over competitors is a notable benefit. It's priced within the second-lowest fee quintile among its peers, which can help investors save money over time.

The Eaton Vance Multi-Asset Credit Fund comes with various fees and charges that you should be aware of. The operational fees include an expense ratio of 0.95%, a management fee of 0.55%, and a 12b-1 fee of 0.25%.

These fees are relatively low compared to the category average. The expense ratio is lower than 38.33% of the category return low, and the management fee is lower than 1.75% of the category return high.

The 12b-1 fee is also below the category average, ranking 59.06% in its category. On the other hand, the administrative fee is not applicable (N/A) in this fund.

If you're considering investing in the Eaton Vance Multi-Asset Credit Fund, you should also be aware of the sales fees. The front load fee is 3.25% of the fund's assets under management (AUM).

This fee is higher than the category average, ranking 85.11% in its category. It's worth noting that the deferred load fee is not applicable (N/A) in this fund.

Here's a summary of the fees and charges:

It's essential to carefully review these fees and charges before investing in the Eaton Vance Multi-Asset Credit Fund.

The Eaton Vance Multi-Asset Credit Fund's performance has been quite varied over the years. In 2024, the fund returned 0.4%, ranking it 68.60% in its category.

Looking at the fund's performance over the past few years, we can see that it has had some notable ups and downs. For example, in 2023, the fund returned 4.0%, which placed it 76.78% in its category.

Here's a summary of the fund's performance for each year:

Return Ranking is a crucial aspect of any investment portfolio's performance analysis. It helps investors understand how their investments have fared compared to their peers.

The EAAMX fund has shown a mixed performance over the years. In 2024, it returned 0.4%, while in 2023, it returned 4.0%. This indicates that the fund has had its ups and downs.

The fund's performance can be compared to its category peers. In 2024, EAAMX ranked 68.60% in its category, indicating that it performed better than most of its peers. In 2023, it ranked 76.78%, showing a significant improvement over the previous year.

Here's a breakdown of EAAMX's performance over the years:

This table shows that EAAMX's performance has varied significantly over the years, with some years showing positive returns and others showing negative returns.

In the world of investment, it's essential to understand the concentration analysis of a fund. A fund with a high concentration of assets in a small number of holdings can be riskier than one with a more diversified portfolio.

The EAAMX fund has a net asset value of 503 million dollars, which is significantly lower than the category high of 25.3 billion dollars. This indicates that the fund is relatively small compared to its peers.

Let's take a closer look at the fund's holdings. The EAAMX fund has a total of 758 holdings, which is lower than the category high of 3,879 holdings. This suggests that the fund has a relatively concentrated portfolio.

The fund's net assets in its top 10 holdings amount to 35.5 million dollars, which is a significant portion of its total net assets. In fact, this represents 74.75% of the fund's net assets in its top 10 holdings.

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Here's a breakdown of the fund's concentration analysis:

The EAAMX fund's weighting of its top 10 holdings is 6.76%, which is relatively low compared to the category high of 143.3%. This suggests that the fund has a relatively diversified portfolio within its top holdings.

The Net Income Ratio Analysis is a key metric in understanding a company's financial health. EAAMX has a Net Income Ratio of 3.70%.

EAAMX's Net Income Ratio is significantly better than the Category Low, which is -2.39%. This indicates that EAAMX is performing much better in terms of generating net income compared to its peers.

The Category High for Net Income Ratio is 9.30%, which means that EAAMX is still below this threshold. However, its Net Income Ratio of 3.70% is a respectable 80.71% rank in its category.

Here's a comparison of EAAMX's Net Income Ratio with its category peers:

This analysis suggests that EAAMX has a relatively strong net income generation capability compared to its peers, which is a positive indicator of its financial health.

The fund manager and performance of Eaton Vance Multi-Asset Credit Fund (EAAMX) are worth exploring.

The fund's performance objective and investment process are clearly defined, making it a sensible choice for investors.

Morningstar's Manager Research evaluates the fund's management team, and we find that high-quality management teams deliver superior performance.

The management team behind EAAMX is experienced and capable, which is a big plus.

We can't find any information about the current portfolio date, equity holdings, bond holdings, or other holdings of EAAMX.

However, Morningstar does provide some general information about the fund's holdings, including that 4.6% of its assets are invested in its top 10 holdings.

If you're interested in learning more about EAAMX, you can unlock Morningstar's full analysis with a subscription to Morningstar Investor.