# Eaton Vance California Municipal Income Trust (CEV): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/cev for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Eaton Vance · Asset class: Bond - Strategy: Actively Managed · Inception: 1999-01-27 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... ## Key Facts | Metric | Value | |---|---| | Price | $10.53 | | Expense Ratio | 2.48% | | Market Value | $74.0M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 5.70% | | Annual Distribution (TTM) | $0.60 /share | | Distribution Frequency | Monthly | | 52-Week Range | $9.77 – $10.84 | | Beta | 0.60 | ## Latest Distribution - Amount: $0.0500 /share - Ex-date: 2026-10-14 - Pay date: 2026-10-26 ## Frequently Asked Questions ### 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 5.70%, 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. ### Does CEV pay a dividend? Yes, Eaton Vance California Municipal Income Trust (CEV) distributes dividends to shareholders. The trailing-twelve-month yield is 5.70%. Full dividend history is on this page. ### How often does CEV pay dividends? Eaton Vance California Municipal Income Trust pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is CEV's next ex-dividend date? The most recently announced ex-dividend date for CEV was 2026-10-14. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will CEV's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 2.48% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does CEV charge its expense ratio? The expense ratio is deducted in tiny daily slices from CEV's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does CEV cost more than a fund like VOO? CEV is actively managed (current expense ratio 2.48%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether CEV's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to CEV? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as CEV (2.48%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/cev - Distribution history: https://www.dividenddata.com/funds/cev/dividend - Holdings & diversification: https://www.dividenddata.com/funds/cev/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/cev/expenses - Peer comparison: https://www.dividenddata.com/funds/cev/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.