Overview

Historical Returns (%) as of Jun 30, 2021

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative.
 

Fund Facts as of Aug 31, 2021

Class I Acc USD Inception 06/23/2017
Investment Objective Defensive Equity Exposure
Total Net Assets $219.8 million
Minimum Investment $5000000

Fund Codes

CUSIP G29202333
ISIN IE00BYXYXS50
SEDOL BYXYXS5
Valor Number 36274904
Wertpapierkennnummer A2DQ2L
 

About Risk 

The effectiveness of the Fund's option strategy is dependent upon a general imbalance of natural buyers over natural sellers of index options. This imbalance could decrease or be eliminated, which could have an adverse effect on the Fund. Fund performance is sensitive to stock market volatility. Calls and puts written by the Fund will be based on UCITS eligible equity indices (the “Indices”). If the Indices appreciate or depreciate sufficiently over the period to offset the net premium received, the Fund will incur a net loss. ETFs are subject to the risks of investing in the underlying securities and the Fund will bear a pro rata portion of the operating expenses of an ETF in which it invests. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Jun 30, 2021

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative.
 

Calendar Year Returns (%)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fund at NAV -5.20 13.76 3.15
MSCI ACWI Index1 -7.35 16.13 22.80 4.16 -2.36 7.86 23.97 -9.41 26.60 16.25
 

Fund Facts

Class I Acc USD Inception 06/23/2017
 

NAV History

Date NAV NAV Change
Sep 22, 2021 $12.92 $0.07
Sep 21, 2021 $12.85 $0.04
Sep 20, 2021 $12.81 -$0.15
Sep 17, 2021 $12.96 -$0.06
Sep 16, 2021 $13.02 -$0.01
Sep 15, 2021 $13.03 $0.04
Sep 14, 2021 $12.99 -$0.03
Sep 13, 2021 $13.02 $0.02
Sep 10, 2021 $13.00 -$0.02
Sep 09, 2021 $13.02 -$0.01

Past performance is not a reliable indicator of future results.

About Risk 

The effectiveness of the Fund's option strategy is dependent upon a general imbalance of natural buyers over natural sellers of index options. This imbalance could decrease or be eliminated, which could have an adverse effect on the Fund. Fund performance is sensitive to stock market volatility. Calls and puts written by the Fund will be based on UCITS eligible equity indices (the “Indices”). If the Indices appreciate or depreciate sufficiently over the period to offset the net premium received, the Fund will incur a net loss. ETFs are subject to the risks of investing in the underlying securities and the Fund will bear a pro rata portion of the operating expenses of an ETF in which it invests. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)2 as of Aug 31, 2021

Portfolio Statistics as of Aug 31, 2021

Median Market Cap $3.97B
Price/Earnings Ratio 18.67
Number of Holdings 61
Price/Book Ratio 2.84
Countries Represented 51
 

GICS Sector Breakdown (%)3 as of Aug 31, 2021

Assets by Country (%)2 as of Aug 31, 2021

United States 81.03
Japan 2.98
United Kingdom 1.85
China 1.77
France 1.34
Switzerland 1.20
Germany 1.14
Australia 0.99
Taiwan 0.99
Korea 0.86
View All
 

Geographic Mix (%)2 as of Aug 31, 2021

United States 81.03
Europe 6.36
Asia/Pacific 6.57
Japan 2.98
United Kingdom 1.85
Latin America 0.52
Africa 0.21
Northern America except U.S. 0.03
Eastern Europe 0.11
Middle East 0.35
 

Fund Holdings2,5 as of Jul 31, 2021

Holding Coupon Rate Maturity Date % of Net Assets
Vanguard S&P 500 UCITS ETF 16.92%
iShares Core S&P 500 UCITS ETF 14.45%
Vanguard FTSE Developed Europe UCITS ETF 8.20%
iShares Core MSCI EM IMI UCITS ETF 6.23%
United States Treasury Note/Bond 2.88% 11/15/2021 5.42%
United States Treasury Note/Bond 1.75% 02/28/2022 4.73%
United States Treasury Note/Bond 1.75% 11/30/2021 4.48%
United States Treasury Bill 0.00% 12/02/2021 3.81%
United States Treasury Bill 0.00% 10/07/2021 3.74%
United States Treasury Bill 0.00% 08/12/2021 3.45%
View All

About Risk 

The effectiveness of the Fund's option strategy is dependent upon a general imbalance of natural buyers over natural sellers of index options. This imbalance could decrease or be eliminated, which could have an adverse effect on the Fund. Fund performance is sensitive to stock market volatility. Calls and puts written by the Fund will be based on UCITS eligible equity indices (the “Indices”). If the Indices appreciate or depreciate sufficiently over the period to offset the net premium received, the Fund will incur a net loss. ETFs are subject to the risks of investing in the underlying securities and the Fund will bear a pro rata portion of the operating expenses of an ETF in which it invests. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Thomas B. Lee, CFA

Thomas B. Lee, CFA

Chief Investment Officer
Joined Parametric in 1994

Biography

Tom is a member of Parametric's Executive Committee and leads Parametric's Research, Strategy, Portfolio Management, and Trading Teams, coordinating resources, aligning priorities, and establishing processes for achieving clients' investment objectives. Tom has coauthored articles on topics ranging from liability-driven investing to the volatility risk premium. He is a voting member of all the firm's investment committees.

Prior to joining Parametric in 1994 (originally as an employee of the Clifton Group, which was acquired by Parametric in 2012), Tom spent two years working for the Board of Governors of the Federal Reserve in Washington, DC.

He earned a BS in economics and an MBA in finance from the University of Minnesota. A CFA charterholder, Tom is a member of the CFA Society of Minnesota.

Education
  • B.S. and M.B.A. University of Minnesota

Experience
  • Managed Fund since inception

 
Alex Zweber, CFA, CAIA

Alex Zweber, CFA, CAIA

Managing Director, Investment Strategy
Joined Eaton Vance in 2018

Biography

Alex Zweber is Managing Director, Investment Strategy at Parametric Portfolio Associates LLC, in the Minneapolis Investment Center. He leads the investment team responsible for Parametric’s liquid alternative strategies. He rejoined Parametric in 2020 after initially joining the firm in 2006 and then joining Eaton Vance in 2018.

Alex began his career in the investment management industry in 2006 with The Clifton Group (acquired by Parametric in 2012). He has experience working in portfolio construction, trading and portfolio management across both futures and options. In his various positions, he has worked closely with institutional and HNW clients and their consultants to address their investment and risk management needs. Before rejoining Parametric, he was responsible for supporting the development and distribution of Parametric’s strategies in Europe. Previously, he was a Senior Portfolio Manager on Parametric’s volatility risk premium solutions.

Alex earned a B.A. in economics from Macalester College. He is a CFA charterholder and holds the Chartered Alternative Investment Analyst (CAIA) designation.

Education
  • B.A. Macalester College

Experience
  • Managed Fund since 2021

 

Literature

Literature

Annual Report (English)

Download - Last updated: Dec 31, 2020

Annual Report (German)

Download - Last updated: Dec 31, 2020

Eaton Vance International (Ireland) Funds Full Prospectus (English)

Download - Last updated: Mar 9, 2021

Eaton Vance International (Ireland) Funds Full Prospectus (German)

Download - Last updated: Mar 9, 2021

Eaton Vance Global Advisors Limited Privacy Statement

Download - Last updated: Apr 17, 2018

Important Documents including Key Investor Information Documents (KIID)

Download

Memorandum and Articles of Association

Download - Last updated: Nov 2, 2011

Semiannual Report (English)

Download - Last updated: Jun 30, 2021