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Eaton Vance Floating-Rate Advantage Adv EVFAX

Morningstar Analyst Rating
Analyst rating as of
NAV / 1-Day Return
10.56  /  0.01 %
Total Assets
6.9 Bil
Adj. Expense Ratio
1.000%
Expense Ratio
1.600%
Fee Level
Above Average
Longest Manager Tenure
13.63 years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / Limited
Min. Initial Investment
1,000
Status
Open
TTM Yield
3.87%
Effective Duration
0.26 years

USD | NAV as of Jun 23, 2021 | 1-Day Return as of Jun 23, 2021, 9:50 PM GMT+00:00

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Morningstar’s Analysis

Will EVFAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

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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

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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

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

A compelling option for the iron-stomached loan investor.

Analyst

Summary

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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.

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