Eaton Vance Tax-Managed Buy-Write Income Fund

Frequently Asked Questions About ETB

What does ETB invest in?

The Eaton Vance Tax-Managed Buy-Write Income Fund operates as a closed-end equity investment vehicle, which was established and is overseen by Eaton Vance Management, with Parametric Portfolio Associates LLC sharing co-management duties. The fund's primary objective is to allocate capital to publicly traded stocks within the United States, specifically targeting large-capitalization companies across a diverse array of sectors. A distinctive aspect of its investment strategy involves selling call options on one or more U.S. market indices, covering a significant portion of its underlying common stock holdings. The fund's performance is benchmarked against the S&P 500 Index. It was founded on April 29, 2005, and is legally based in the United States.

What is the expense ratio of ETB?

Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) charges an expense ratio of 1.12%. This is the annual fee deducted from fund assets to cover management and operations.

What is ETB's distribution yield?

ETB's trailing-twelve-month yield is 8.14%, calculated from the sum of distributions over the past year divided by the current price.

How does ETB's covered-call strategy work?

ETB sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside — when the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

How big is ETB?

Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) manages $458.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is ETB actively managed or an index fund?

ETB's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.