Eaton Vance Short Duration Municipal Income ETF

Frequently Asked Questions About EVSM

What does EVSM invest in?

The Eaton Vance Short Duration Municipal Income ETF (EVSM) operates under an active management strategy, focusing primarily on municipal debt instruments that offer federal tax exemptions. While its typical allocation is to investment-grade municipal obligations, the fund's objective is to maintain a dollar-weighted average portfolio duration of less than three years. However, this does not preclude the inclusion of individual securities with any maturity length. The investment adviser's primary criteria for selecting securities include evaluating the credit quality of the issuer and assessing the bond's value proposition within the market. Furthermore, Environmental, Social, and Governance (ESG) considerations are incorporated into the decision-making process. Due to its active management approach, EVSM holds the flexibility to occasionally invest a portion of its assets in bonds that are subject to regular federal income tax, as well as in higher-yielding, non-investment grade (junk) bonds.

What is the expense ratio of EVSM?

Eaton Vance Short Duration Municipal Income ETF (EVSM) charges an expense ratio of 0.19%. This is the annual fee deducted from fund assets to cover management and operations.

What is EVSM's dividend yield?

EVSM's trailing-twelve-month yield is 3.01%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of EVSM?

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

What is the credit quality of EVSM?

EVSM'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 EVSM?

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