Eaton Vance Floating Rate Advantage’s adventurous use of leverage can get it into short-term trouble, but its great team and circumspect investment process give it a long-term edge. Its cheaper share classes earn a Morningstar Analyst Rating of Bronze, while its more expensive receive Neutral.
Eaton Vance Floating-Rate Advantage C ECFAX
NAV / 1-Day Return
10.56
/
0.10
%
Total Assets
6.9 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.500%
Expense Ratio
2.100%
Fee Level
High
Longest Manager Tenure
13.61
years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / LimitedMin. Initial Investment
1,000
Status
Open
TTM Yield
3.39%
Effective Duration
0.26
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will ECFAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ECFAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the ECFAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of ECFAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
A compelling option for the iron-stomached loan investor.
