Eaton Vance California Municipal Bond Fund

Frequently Asked Questions About EVM

What does EVM invest in?

The Eaton Vance California Municipal Bond Fund is a closed-end investment vehicle operating under the management of Eaton Vance Management. Its primary objective is to allocate capital within the U.S. fixed-income market, with a specific focus on acquiring high-quality municipal debt. These municipal bonds are drawn from a wide array of sectors, encompassing general obligation bonds, healthcare (hospital) facilities, essential utilities (such as electric, water, and sewer services), transportation infrastructure, and both public and private educational institutions. Formed in 2002, this fund was originally known as the Eaton Vance Insured California Municipal Bond Fund and is officially registered in the United States.

What is the expense ratio of EVM?

Eaton Vance California Municipal Bond Fund (EVM) charges an expense ratio of 2.66%. This is the annual fee deducted from fund assets to cover management and operations.

What is the duration of EVM?

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

What is the credit quality of EVM?

EVM'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 EVM?

Yield to maturity (YTM) is the total return you'd earn from EVM if every bond in the portfolio is held to maturity at the current price. EVM'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.

How big is EVM?

Eaton Vance California Municipal Bond Fund (EVM) manages $237.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.