Morgan Stanley Announces June Distribution Estimates for Eaton Vance Closed-End Funds with Mixed Performance Indicators

Morgan Stanley has released estimated June distribution sources for Eaton Vance closed-end funds. The funds maintain a consistent monthly distribution schedule, with some showing strong average annual total returns at NAV and high percentages of distributions sourced from net realized long-term capital gains. However, some funds have experienced negative cumulative total returns and a lack of net investment income, which may raise concerns for investors. Investors should consider long-term performance metrics and diversify to monitor fund-specific strategies and market conditions.

Morgan Stanley has released estimated June distribution sources for Eaton Vance closed-end funds, offering investors insights into the funds' performance and distribution strategies. The funds maintain a consistent monthly distribution schedule, with some notable returns and sources of distributions.

The Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) is set to distribute $0.1338 per share in June, with 100% of the distribution sourced from net realized long-term capital gains. Over the fiscal year, the fund has distributed a total of $1.2042 per share, with the same source. The fund's average annual total return at NAV for the 5-year period ended on May 31, 2025, was 14.46%, and the annualized current distribution rate was 8.16% [1].

Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) is also expected to distribute $0.1523 per share in June, with 79.4% of the distribution coming from net realized long-term capital gains. The fund's total distribution for the fiscal year is $0.9138 per share, with an average annual total return at NAV of 14.11% over the 5-year period [1].

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ) is set to distribute $0.0651 per share in June, with 100% of the distribution sourced from net realized long-term capital gains. The fund's total distribution for the fiscal year is $0.3906 per share, with an average annual total return at NAV of 9.09% over the 5-year period [1].

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT) is expected to distribute $0.1646 per share in June, with 83.7% of the distribution coming from net realized long-term capital gains. The fund's total distribution for the fiscal year is $1.3168 per share, with an average annual total return at NAV of 12.58% over the 5-year period [1].

However, some funds have experienced negative cumulative total returns and a lack of net investment income. Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV) both have negative cumulative total returns for the fiscal year through May 31, 2025. Investors should consider long-term performance metrics and diversify to monitor fund-specific strategies and market conditions.

Investors should also note that the amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes [1].

References:
[1] https://www.businesswire.com/news/home/20250630292450/en/Eaton-Vance-Closed-End-Funds-Release-Estimated-Sources-of-Distributions