UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-04015
Eaton Vance Mutual Funds Trust
(Exact Name of Registrant as Specified in Charter)
One Post Office Square, Boston, Massachusetts 02109
(Address of Principal Executive Offices)
Deidre E. Walsh
One Post Office Square, Boston, Massachusetts 02109
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number)
January 31
Date of Fiscal Year End
January 31, 2026
Date of Reporting Period
Item 1. Reports to Stockholders
| (a) |
Parametric Emerging Markets Fund
Class A EAEMX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class A |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI Emerging Markets Index (the Index):
↓ Underweight exposure to South Korea, including its technology sector, detracted from returns as tech stocks propelled significant country-level gains
↓ Sector allocations and an underweight exposure to Taiwan detracted from Index-relative returns as technology stocks drove a significant country-wide rally
↓ An overweight exposure to Turkey hurt returns as a significant decline in Turkey’s foreign exchange rate versus the dollar weighed on overall results for the country
↑ In contrast, an underweight exposure to India contributed to performance as India’s market struggled to gain ground due to trade frictions with the U.S.
↑ Sector allocations and an underweight exposure to China helped returns as ongoing property sector weakness and U.S. trade tensions weighed on market performance
↑ An overweight exposure to Peru contributed to Index-relative returns as the headline performance was boosted by a significant rally among mining companies
Fund Performance
Comparison of the change in value of a $10,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class A |
|||
Class A with 5.25% Maximum Sales Charge |
|||
MSCI Emerging Markets Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
Developed Europe |
|
North America |
|
Africa |
|
Middle East |
|
Emerging Europe |
|
Latin America |
|
Asia |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. |
|
|---|---|
Delta Electronics (Thailand) PCL |
|
Tencent Holdings Ltd. |
|
Samsung Electronics Co. Ltd. |
|
Vingroup JSC |
|
America Movil SAB de CV, Series B |
|
SK Hynix, Inc. |
|
Southern Copper Corp. |
|
Naspers Ltd., Class N |
|
MTN Group Ltd. |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Material Fund Changes
This is a summary of certain changes to the Fund since
Effective July 1, 2025, Eaton Vance Management and Parametric Portfolio Associates LLC have agreed to reimburse the Fund’s expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 1.44% (1.49% prior to July 1, 2025) of the Fund’s average daily net assets for Class A. This agreement may be changed or terminated after June 1, 2027.
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
EAEMX-TSR-AR
Parametric Emerging Markets Fund
Class C ECEMX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class C |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI Emerging Markets Index (the Index):
↓ Underweight exposure to South Korea, including its technology sector, detracted from returns as tech stocks propelled significant country-level gains
↓ Sector allocations and an underweight exposure to Taiwan detracted from Index-relative returns as technology stocks drove a significant country-wide rally
↓ An overweight exposure to Turkey hurt returns as a significant decline in Turkey’s foreign exchange rate versus the dollar weighed on overall results for the country
↑ In contrast, an underweight exposure to India contributed to performance as India’s market struggled to gain ground due to trade frictions with the U.S.
↑ Sector allocations and an underweight exposure to China helped returns as ongoing property sector weakness and U.S. trade tensions weighed on market performance
↑ An overweight exposure to Peru contributed to Index-relative returns as the headline performance was boosted by a significant rally among mining companies
Fund Performance
Comparison of the change in value of a $10,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class C, with conversion to Class A after 8 years |
|||
Class C, with 1% Maximum Contingent Deferred Sales Charge and conversion to Class A after 8 years |
|||
MSCI Emerging Markets Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
Developed Europe |
|
North America |
|
Africa |
|
Middle East |
|
Emerging Europe |
|
Latin America |
|
Asia |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. |
|
|---|---|
Delta Electronics (Thailand) PCL |
|
Tencent Holdings Ltd. |
|
Samsung Electronics Co. Ltd. |
|
Vingroup JSC |
|
America Movil SAB de CV, Series B |
|
SK Hynix, Inc. |
|
Southern Copper Corp. |
|
Naspers Ltd., Class N |
|
MTN Group Ltd. |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Material Fund Changes
This is a summary of certain changes to the Fund since
Effective July 1, 2025, Eaton Vance Management and Parametric Portfolio Associates LLC have agreed to reimburse the Fund’s expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 2.19% (2.24% prior to July 1, 2025) of the Fund’s average daily net assets for Class C. This agreement may be changed or terminated after June 1, 2027.
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
ECEMX-TSR-AR
Parametric Emerging Markets Fund
Class I EIEMX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class I |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI Emerging Markets Index (the Index):
↓ Underweight exposure to South Korea, including its technology sector, detracted from returns as tech stocks propelled significant country-level gains
↓ Sector allocations and an underweight exposure to Taiwan detracted from Index-relative returns as technology stocks drove a significant country-wide rally
↓ An overweight exposure to Turkey hurt returns as a significant decline in Turkey’s foreign exchange rate versus the dollar weighed on overall results for the country
↑ In contrast, an underweight exposure to India contributed to performance as India’s market struggled to gain ground due to trade frictions with the U.S.
↑ Sector allocations and an underweight exposure to China helped returns as ongoing property sector weakness and U.S. trade tensions weighed on market performance
↑ An overweight exposure to Peru contributed to Index-relative returns as the headline performance was boosted by a significant rally among mining companies
Fund Performance
Comparison of the change in value of a $1,000,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class I |
|||
MSCI Emerging Markets Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
Developed Europe |
|
North America |
|
Africa |
|
Middle East |
|
Emerging Europe |
|
Latin America |
|
Asia |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. |
|
|---|---|
Delta Electronics (Thailand) PCL |
|
Tencent Holdings Ltd. |
|
Samsung Electronics Co. Ltd. |
|
Vingroup JSC |
|
America Movil SAB de CV, Series B |
|
SK Hynix, Inc. |
|
Southern Copper Corp. |
|
Naspers Ltd., Class N |
|
MTN Group Ltd. |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Material Fund Changes
This is a summary of certain changes to the Fund since
Effective July 1, 2025, Eaton Vance Management and Parametric Portfolio Associates LLC have agreed to reimburse the Fund’s expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 1.19% (1.24% prior to July 1, 2025) of the Fund’s average daily net assets for Class I. This agreement may be changed or terminated after June 1, 2027.
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
EIEMX-TSR-AR
Parametric Emerging Markets Fund
Class R6 EREMX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class R6 |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI Emerging Markets Index (the Index):
↓ Underweight exposure to South Korea, including its technology sector, detracted from returns as tech stocks propelled significant country-level gains
↓ Sector allocations and an underweight exposure to Taiwan detracted from Index-relative returns as technology stocks drove a significant country-wide rally
↓ An overweight exposure to Turkey hurt returns as a significant decline in Turkey’s foreign exchange rate versus the dollar weighed on overall results for the country
↑ In contrast, an underweight exposure to India contributed to performance as India’s market struggled to gain ground due to trade frictions with the U.S.
↑ Sector allocations and an underweight exposure to China helped returns as ongoing property sector weakness and U.S. trade tensions weighed on market performance
↑ An overweight exposure to Peru contributed to Index-relative returns as the headline performance was boosted by a significant rally among mining companies
Fund Performance
Comparison of the change in value of a $5,000,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class R6 |
|||
MSCI Emerging Markets Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
Developed Europe |
|
North America |
|
Africa |
|
Middle East |
|
Emerging Europe |
|
Latin America |
|
Asia |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. |
|
|---|---|
Delta Electronics (Thailand) PCL |
|
Tencent Holdings Ltd. |
|
Samsung Electronics Co. Ltd. |
|
Vingroup JSC |
|
America Movil SAB de CV, Series B |
|
SK Hynix, Inc. |
|
Southern Copper Corp. |
|
Naspers Ltd., Class N |
|
MTN Group Ltd. |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Material Fund Changes
This is a summary of certain changes to the Fund since
Effective July 1, 2025, Eaton Vance Management and Parametric Portfolio Associates LLC have agreed to reimburse the Fund’s expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only and excluding expenses such as brokerage commissions, acquired fund fees and expenses of unaffiliated funds, borrowing costs, taxes or litigation expenses) exceed 1.12% (1.17% prior to July 1, 2025) of the Fund’s average daily net assets for Class R6. This agreement may be changed or terminated after June 1, 2027.
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
EREMX-TSR-AR
Parametric International Equity Fund
Class A EAISX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class A |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI EAFE Index (the Index):
↓ Sector allocation and an underweight to Netherlands hurt returns, partly due to an underweight to information technology, which surged over the period
↓ Stock selections in Japan also detracted from returns, partly due to excluding high beta stocks within the information technology sector that outperformed
↓ Security selection in Germany further weighed on performance partly due to the exclusion of high beta materials stocks that experienced gains
↑ Sector allocations in Israel contributed to Index-relative performance, partly due to an underweight to information technology which declined
↑ An overweight exposure to Belgium and active security selection within the materials sector helped performance. Strong returns from financials, health care and consumer staples also boosted results
↑ An underweight exposure to France helped returns as headline performance trailed amid weakening demand for the country’s consumer discretionary goods
Fund Performance
Comparison of the change in value of a $10,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class A |
|||
Class A with 5.25% Maximum Sales Charge |
|||
MSCI EAFE Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
North America |
|
Developed Middle East |
|
Australasia/Pacific |
|
Asia |
|
Developed Europe |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA |
|
|---|---|
Cie Financiere Richemont SA, Class A |
|
Deutsche Telekom AG |
|
Engie SA |
|
Shell PLC |
|
TotalEnergies SE |
|
Sanofi SA |
|
Air Liquide SA |
|
ASML Holding NV |
|
SAP SE |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
EAISX-TSR-AR
Parametric International Equity Fund
Class I EIISX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class I |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI EAFE Index (the Index):
↓ Sector allocation and an underweight to Netherlands hurt returns, partly due to an underweight to information technology, which surged over the period
↓ Stock selections in Japan also detracted from returns, partly due to excluding high beta stocks within the information technology sector that outperformed
↓ Security selection in Germany further weighed on performance partly due to the exclusion of high beta materials stocks that experienced gains
↑ Sector allocations in Israel contributed to Index-relative performance, partly due to an underweight to information technology which declined
↑ An overweight exposure to Belgium and active security selection within the materials sector helped performance. Strong returns from financials, health care and consumer staples also boosted results
↑ An underweight exposure to France helped returns as headline performance trailed amid weakening demand for the country’s consumer discretionary goods
Fund Performance
Comparison of the change in value of a $1,000,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class I |
|||
MSCI EAFE Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
North America |
|
Developed Middle East |
|
Australasia/Pacific |
|
Asia |
|
Developed Europe |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA |
|
|---|---|
Cie Financiere Richemont SA, Class A |
|
Deutsche Telekom AG |
|
Engie SA |
|
Shell PLC |
|
TotalEnergies SE |
|
Sanofi SA |
|
Air Liquide SA |
|
ASML Holding NV |
|
SAP SE |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
EIISX-TSR-AR
Parametric International Equity Fund
Class R ERISX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class R |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI EAFE Index (the Index):
↓ Sector allocation and an underweight to Netherlands hurt returns, partly due to an underweight to information technology, which surged over the period
↓ Stock selections in Japan also detracted from returns, partly due to excluding high beta stocks within the information technology sector that outperformed
↓ Security selection in Germany further weighed on performance partly due to the exclusion of high beta materials stocks that experienced gains
↑ Sector allocations in Israel contributed to Index-relative performance, partly due to an underweight to information technology which declined
↑ An overweight exposure to Belgium and active security selection within the materials sector helped performance. Strong returns from financials, health care and consumer staples also boosted results
↑ An underweight exposure to France helped returns as headline performance trailed amid weakening demand for the country’s consumer discretionary goods
Fund Performance
Comparison of the change in value of a $10,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class R |
|||
MSCI EAFE Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
North America |
|
Developed Middle East |
|
Australasia/Pacific |
|
Asia |
|
Developed Europe |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA |
|
|---|---|
Cie Financiere Richemont SA, Class A |
|
Deutsche Telekom AG |
|
Engie SA |
|
Shell PLC |
|
TotalEnergies SE |
|
Sanofi SA |
|
Air Liquide SA |
|
ASML Holding NV |
|
SAP SE |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
ERISX-TSR-AR
Parametric International Equity Fund
Class R6 ESISX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class R6 |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI EAFE Index (the Index):
↓ Sector allocation and an underweight to Netherlands hurt returns, partly due to an underweight to information technology, which surged over the period
↓ Stock selections in Japan also detracted from returns, partly due to excluding high beta stocks within the information technology sector that outperformed
↓ Security selection in Germany further weighed on performance partly due to the exclusion of high beta materials stocks that experienced gains
↑ Sector allocations in Israel contributed to Index-relative performance, partly due to an underweight to information technology which declined
↑ An overweight exposure to Belgium and active security selection within the materials sector helped performance. Strong returns from financials, health care and consumer staples also boosted results
↑ An underweight exposure to France helped returns as headline performance trailed amid weakening demand for the country’s consumer discretionary goods
Fund Performance
Comparison of the change in value of a $5,000,000 investment for the period indicated.
1/16 |
$ |
$ |
|---|---|---|
2/16 |
$ |
$ |
3/16 |
$ |
$ |
4/16 |
$ |
$ |
5/16 |
$ |
$ |
6/16 |
$ |
$ |
7/16 |
$ |
$ |
8/16 |
$ |
$ |
9/16 |
$ |
$ |
10/16 |
$ |
$ |
11/16 |
$ |
$ |
12/16 |
$ |
$ |
1/17 |
$ |
$ |
2/17 |
$ |
$ |
3/17 |
$ |
$ |
4/17 |
$ |
$ |
5/17 |
$ |
$ |
6/17 |
$ |
$ |
7/17 |
$ |
$ |
8/17 |
$ |
$ |
9/17 |
$ |
$ |
10/17 |
$ |
$ |
11/17 |
$ |
$ |
12/17 |
$ |
$ |
1/18 |
$ |
$ |
2/18 |
$ |
$ |
3/18 |
$ |
$ |
4/18 |
$ |
$ |
5/18 |
$ |
$ |
6/18 |
$ |
$ |
7/18 |
$ |
$ |
8/18 |
$ |
$ |
9/18 |
$ |
$ |
10/18 |
$ |
$ |
11/18 |
$ |
$ |
12/18 |
$ |
$ |
1/19 |
$ |
$ |
2/19 |
$ |
$ |
3/19 |
$ |
$ |
4/19 |
$ |
$ |
5/19 |
$ |
$ |
6/19 |
$ |
$ |
7/19 |
$ |
$ |
8/19 |
$ |
$ |
9/19 |
$ |
$ |
10/19 |
$ |
$ |
11/19 |
$ |
$ |
12/19 |
$ |
$ |
1/20 |
$ |
$ |
2/20 |
$ |
$ |
3/20 |
$ |
$ |
4/20 |
$ |
$ |
5/20 |
$ |
$ |
6/20 |
$ |
$ |
7/20 |
$ |
$ |
8/20 |
$ |
$ |
9/20 |
$ |
$ |
10/20 |
$ |
$ |
11/20 |
$ |
$ |
12/20 |
$ |
$ |
1/21 |
$ |
$ |
2/21 |
$ |
$ |
3/21 |
$ |
$ |
4/21 |
$ |
$ |
5/21 |
$ |
$ |
6/21 |
$ |
$ |
7/21 |
$ |
$ |
8/21 |
$ |
$ |
9/21 |
$ |
$ |
10/21 |
$ |
$ |
11/21 |
$ |
$ |
12/21 |
$ |
$ |
1/22 |
$ |
$ |
2/22 |
$ |
$ |
3/22 |
$ |
$ |
4/22 |
$ |
$ |
5/22 |
$ |
$ |
6/22 |
$ |
$ |
7/22 |
$ |
$ |
8/22 |
$ |
$ |
9/22 |
$ |
$ |
10/22 |
$ |
$ |
11/22 |
$ |
$ |
12/22 |
$ |
$ |
1/23 |
$ |
$ |
2/23 |
$ |
$ |
3/23 |
$ |
$ |
4/23 |
$ |
$ |
5/23 |
$ |
$ |
6/23 |
$ |
$ |
7/23 |
$ |
$ |
8/23 |
$ |
$ |
9/23 |
$ |
$ |
10/23 |
$ |
$ |
11/23 |
$ |
$ |
12/23 |
$ |
$ |
1/24 |
$ |
$ |
2/24 |
$ |
$ |
3/24 |
$ |
$ |
4/24 |
$ |
$ |
5/24 |
$ |
$ |
6/24 |
$ |
$ |
7/24 |
$ |
$ |
8/24 |
$ |
$ |
9/24 |
$ |
$ |
10/24 |
$ |
$ |
11/24 |
$ |
$ |
12/24 |
$ |
$ |
1/25 |
$ |
$ |
2/25 |
$ |
$ |
3/25 |
$ |
$ |
4/25 |
$ |
$ |
5/25 |
$ |
$ |
6/25 |
$ |
$ |
7/25 |
$ |
$ |
8/25 |
$ |
$ |
9/25 |
$ |
$ |
10/25 |
$ |
$ |
11/25 |
$ |
$ |
12/25 |
$ |
$ |
1/26 |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
Class R6 |
|||
MSCI EAFE Index (net of foreign withholding taxes) |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value |
Value |
|---|---|
North America |
|
Developed Middle East |
|
Australasia/Pacific |
|
Asia |
|
Developed Europe |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA |
|
|---|---|
Cie Financiere Richemont SA, Class A |
|
Deutsche Telekom AG |
|
Engie SA |
|
Shell PLC |
|
TotalEnergies SE |
|
Sanofi SA |
|
Air Liquide SA |
|
ASML Holding NV |
|
SAP SE |
|
Total |
| Footnote | Description |
Footnotea |
Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
ESISX-TSR-AR
Parametric Volatility Risk Premium - Defensive Fund
Class I EIVPX
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class Name |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Class I |
$ |
How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the Cboe S&P 500 BuyWrite IndexSM (the Index):
↑ The Fund outperformed the Index during the period due to enhanced diversification in portfolio construction, which improved investment results
↑ The Fund’s writing, or selling, of call options — a type of derivative — was additive to Index-relative returns during a period of strong equity performance
↑ The Fund's writing, or selling, of put options — a type of derivative — contributed to both absolute performance and Index-relative performance
↑ The Fund’s tax-managed allocation to equities — approximately 50% of the portfolio — delivered positive performance and was additive to Index-relative returns
↑ The Fund also outperformed its secondary benchmark, a blend of 50% S&P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index
↓ An approximately 50% allocation to U.S. Treasury bills — used as a hedge against market volatility — detracted from performance as U.S. Treasuries generally underperformed U.S. equities
Fund Performance
Comparison of the change in value of a $1,000,000 investment for the period indicated.
2/17 |
$ |
$ |
$ |
|---|---|---|---|
2/17 |
$ |
$ |
$ |
3/17 |
$ |
$ |
$ |
4/17 |
$ |
$ |
$ |
5/17 |
$ |
$ |
$ |
6/17 |
$ |
$ |
$ |
7/17 |
$ |
$ |
$ |
8/17 |
$ |
$ |
$ |
9/17 |
$ |
$ |
$ |
10/17 |
$ |
$ |
$ |
11/17 |
$ |
$ |
$ |
12/17 |
$ |
$ |
$ |
1/18 |
$ |
$ |
$ |
2/18 |
$ |
$ |
$ |
3/18 |
$ |
$ |
$ |
4/18 |
$ |
$ |
$ |
5/18 |
$ |
$ |
$ |
6/18 |
$ |
$ |
$ |
7/18 |
$ |
$ |
$ |
8/18 |
$ |
$ |
$ |
9/18 |
$ |
$ |
$ |
10/18 |
$ |
$ |
$ |
11/18 |
$ |
$ |
$ |
12/18 |
$ |
$ |
$ |
1/19 |
$ |
$ |
$ |
2/19 |
$ |
$ |
$ |
3/19 |
$ |
$ |
$ |
4/19 |
$ |
$ |
$ |
5/19 |
$ |
$ |
$ |
6/19 |
$ |
$ |
$ |
7/19 |
$ |
$ |
$ |
8/19 |
$ |
$ |
$ |
9/19 |
$ |
$ |
$ |
10/19 |
$ |
$ |
$ |
11/19 |
$ |
$ |
$ |
12/19 |
$ |
$ |
$ |
1/20 |
$ |
$ |
$ |
2/20 |
$ |
$ |
$ |
3/20 |
$ |
$ |
$ |
4/20 |
$ |
$ |
$ |
5/20 |
$ |
$ |
$ |
6/20 |
$ |
$ |
$ |
7/20 |
$ |
$ |
$ |
8/20 |
$ |
$ |
$ |
9/20 |
$ |
$ |
$ |
10/20 |
$ |
$ |
$ |
11/20 |
$ |
$ |
$ |
12/20 |
$ |
$ |
$ |
1/21 |
$ |
$ |
$ |
2/21 |
$ |
$ |
$ |
3/21 |
$ |
$ |
$ |
4/21 |
$ |
$ |
$ |
5/21 |
$ |
$ |
$ |
6/21 |
$ |
$ |
$ |
7/21 |
$ |
$ |
$ |
8/21 |
$ |
$ |
$ |
9/21 |
$ |
$ |
$ |
10/21 |
$ |
$ |
$ |
11/21 |
$ |
$ |
$ |
12/21 |
$ |
$ |
$ |
1/22 |
$ |
$ |
$ |
2/22 |
$ |
$ |
$ |
3/22 |
$ |
$ |
$ |
4/22 |
$ |
$ |
$ |
5/22 |
$ |
$ |
$ |
6/22 |
$ |
$ |
$ |
7/22 |
$ |
$ |
$ |
8/22 |
$ |
$ |
$ |
9/22 |
$ |
$ |
$ |
10/22 |
$ |
$ |
$ |
11/22 |
$ |
$ |
$ |
12/22 |
$ |
$ |
$ |
1/23 |
$ |
$ |
$ |
2/23 |
$ |
$ |
$ |
3/23 |
$ |
$ |
$ |
4/23 |
$ |
$ |
$ |
5/23 |
$ |
$ |
$ |
6/23 |
$ |
$ |
$ |
7/23 |
$ |
$ |
$ |
8/23 |
$ |
$ |
$ |
9/23 |
$ |
$ |
$ |
10/23 |
$ |
$ |
$ |
11/23 |
$ |
$ |
$ |
12/23 |
$ |
$ |
$ |
1/24 |
$ |
$ |
$ |
2/24 |
$ |
$ |
$ |
3/24 |
$ |
$ |
$ |
4/24 |
$ |
$ |
$ |
5/24 |
$ |
$ |
$ |
6/24 |
$ |
$ |
$ |
7/24 |
$ |
$ |
$ |
8/24 |
$ |
$ |
$ |
9/24 |
$ |
$ |
$ |
10/24 |
$ |
$ |
$ |
11/24 |
$ |
$ |
$ |
12/24 |
$ |
$ |
$ |
1/25 |
$ |
$ |
$ |
2/25 |
$ |
$ |
$ |
3/25 |
$ |
$ |
$ |
4/25 |
$ |
$ |
$ |
5/25 |
$ |
$ |
$ |
6/25 |
$ |
$ |
$ |
7/25 |
$ |
$ |
$ |
8/25 |
$ |
$ |
$ |
9/25 |
$ |
$ |
$ |
10/25 |
$ |
$ |
$ |
11/25 |
$ |
$ |
$ |
12/25 |
$ |
$ |
$ |
1/26 |
$ |
$ |
$ |
Average Annual Total Returns (%)
Fund |
1 Year |
5 Years |
Since |
|---|---|---|---|
Class I |
|||
S&P 500® Index |
|||
Cboe S&P 500 BuyWrite Index℠ |
Key Fund Statistics
Total Net Assets |
$ |
|---|---|
# of Portfolio Holdings |
|
Portfolio Turnover Rate |
|
Total Advisory Fees Paid |
$ |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Asset Allocation (% of total investments)
Value |
Value |
|---|---|
Short-Term Investments |
|
Common Stocks |
Top Ten Holdings (% of total investments)Footnote Referencea
NVIDIA Corp. |
|
|---|---|
Apple, Inc. |
|
Microsoft Corp. |
|
Amazon.com, Inc. |
|
Alphabet, Inc., Class A |
|
Broadcom, Inc. |
|
Alphabet, Inc., Class C |
|
Meta Platforms, Inc., Class A |
|
Tesla, Inc. |
|
JPMorgan Chase & Co. |
|
Total |
| Footnote | Description |
Footnotea |
Excluding short-term investments |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling
Not FDIC Insured | May Lose Value | No Bank Guarantee
Annual Shareholder Report January 31, 2026
