Eaton Vance California Municipal Income Trust

Frequently Asked Questions About CEV

What does CEV invest in?

The Eaton Vance California Municipal Income Trust (CEV) operates as a closed-end mutual fund under the management of Eaton Vance Management, its original creator. This fund is dedicated to investing in various fixed income markets. Its primary strategy involves acquiring debt securities issued by a diverse array of sectors, including education, healthcare (hospitals), housing, and transportation. Additionally, it invests in specific insured categories such as insured-education, insured-electric utilities, insured-hospital, insured-transportation, and insured-water and sewer. Established in 1999, the Trust is domiciled in the United States.

What is the expense ratio of CEV?

Eaton Vance California Municipal Income Trust (CEV) charges an expense ratio of 2.48%. This is the annual fee deducted from fund assets to cover management and operations.

What is CEV's dividend yield?

CEV's trailing-twelve-month yield is 5.87%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of CEV?

Effective duration measures CEV's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. CEV's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of CEV?

CEV's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of CEV?

Yield to maturity (YTM) is the total return you'd earn from CEV if every bond in the portfolio is held to maturity at the current price. CEV's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.