Morningstar

Eaton Vance Floating-Rate Advantage Fund Class Advisers EVFAX

Morningstar Medalist Rating
Medalist Rating as of | See Eaton Vance Investment Hub
  • NAV / 1-Day Return 9.40  /  0.00
  • Total Assets 3.8B
  • Adj. Expense Ratio
    0.960%
  • Expense Ratio 2.270%
  • Distribution Fee Level Average
  • Share Class Type No Load
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity Low/Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 7.29%
  • Effective Duration 0.28 years

USD | NAV as of Jul 11, 2026 | 1-Day Return as of Jul 11, 2026, 12:10 AM GMT+0

Morningstar’s Analysis EVFAX

Will EVFAX outperform in the 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 EVFAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the EVFAX 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 EVFAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

More personnel turnover for Eaton Vance’s floating-rate strategies further dents its People Pillar.

Principal Paul Olmsted

Paul Olmsted

Principal

Summary

It’s been a tumultuous year for Eaton Vance’s floating-rate team. On the heels of the January 2025 removal of Andrew Sveen, who was the head of the floating-rate platform and lead manager on the firm's suite of floating-rate funds, comanager Jake Lemle suddenly left on June 12, 2025. The firm replaced Lemle with a new head of floating-rate loans who will comanage Eaton Vance Floating-Rate Advantage alongside bank-loan veteran Ralph Hinckley. This upheaval results in a People downgrade to Average from Above Average.

by Paul Olmsted
Rated on Published on

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Portfolio Holdings EVFAX

More EVFAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 6.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
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0.65 40M
—

Sedgwick Claims

0.62 38M
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Transdigm, Inc.

0.61 37M
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Alliant Holding

0.59 36M
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Freeport Lng Inv Floating Coupon 6.9252 Maturity 20330131

0.58 35M
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