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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_BelowInvestmentGradeRiskMember_lbl" xml:lang="en-US">Below Investment Grade Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_CallRiskMember_lbl" xml:lang="en-US">Call Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_ConvertibleSecuritiesRiskMember_lbl" xml:lang="en-US">Convertible Securities Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_DerivativesRiskMember_lbl" xml:lang="en-US">Derivatives Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_DirectLendingRiskMember_lbl" xml:lang="en-US">Direct Lending Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_FairValueRiskMember_lbl" xml:lang="en-US">Fair Value Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LitigationFinanceInvestmentsRiskMember_lbl" xml:lang="en-US">Litigation Finance Investments Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LoanRiskMember_lbl" xml:lang="en-US">Loan Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_BroadlySyndicatedLoansRiskMember_lbl" xml:lang="en-US">Broadly Syndicated Loans Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_CovenantLiteLoansRiskMember" xlink:label="ecof_CovenantLiteLoansRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_CovenantLiteLoansRiskMember_lbl" xml:lang="en-US">Covenant-lite Loans Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LoanOriginationRiskMember_lbl" xml:lang="en-US">Loan Origination Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_MiddleMarketLoansRiskMember_lbl" xml:lang="en-US">Middle Market Loans Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_SecondLienLoanAndUnsecuredLoansInvestmentsRiskMember_lbl" xml:lang="en-US">Second Lien Loan and Unsecured Loans Investments Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SeniorLoanRiskMember" xlink:to="ecof_SeniorLoanRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_SeniorLoanRiskMember_lbl" xml:lang="en-US">Senior Loan Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_SeniorLoanAgentRiskMember" xlink:label="ecof_SeniorLoanAgentRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SeniorLoanAgentRiskMember" xlink:to="ecof_SeniorLoanAgentRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_SeniorLoanAgentRiskMember_lbl" xml:lang="en-US">Senior Loan Agent Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_UnitrancheLoansRiskMember" xlink:label="ecof_UnitrancheLoansRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_UnitrancheLoansRiskMember" xlink:to="ecof_UnitrancheLoansRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_UnitrancheLoansRiskMember_lbl" xml:lang="en-US">Unitranche Loans Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_LoanParticipationsRiskMember" xlink:label="ecof_LoanParticipationsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LoanParticipationsRiskMember" xlink:to="ecof_LoanParticipationsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LoanParticipationsRiskMember_lbl" xml:lang="en-US">Loan Participations Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_MarketRiskMember" xlink:label="ecof_MarketRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MarketRiskMember" xlink:to="ecof_MarketRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_MarketRiskMember_lbl" xml:lang="en-US">Market Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_MarketLiquidityRiskMember" xlink:label="ecof_MarketLiquidityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MarketLiquidityRiskMember" xlink:to="ecof_MarketLiquidityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_MarketLiquidityRiskMember_lbl" xml:lang="en-US">Market Liquidity Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_MBSAndABSRiskMember_lbl" xml:lang="en-US">MBS and ABS Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_MunicipalSecuritiesMarketRiskMember_lbl" xml:lang="en-US">Municipal Securities Market Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_NonUSSecuritiesRiskMember" xlink:to="ecof_NonUSSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_NonUSSecuritiesRiskMember_lbl" xml:lang="en-US">Non-U.S. Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_OtherInvestmentCompaniesRiskMember" xlink:label="ecof_OtherInvestmentCompaniesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_OtherInvestmentCompaniesRiskMember" xlink:to="ecof_OtherInvestmentCompaniesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_OtherInvestmentCompaniesRiskMember_lbl" xml:lang="en-US">Other Investment Companies Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_PreferredSecuritiesRiskMember" xlink:label="ecof_PreferredSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_PreferredSecuritiesRiskMember" xlink:to="ecof_PreferredSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_PreferredSecuritiesRiskMember_lbl" xml:lang="en-US">Preferred Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_PrivateCreditInvestmentsRiskMember" xlink:label="ecof_PrivateCreditInvestmentsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_PrivateCreditInvestmentsRiskMember" xlink:to="ecof_PrivateCreditInvestmentsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_PrivateCreditInvestmentsRiskMember_lbl" xml:lang="en-US">Private Credit Investments Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_RestrictedAndIlliquidInvestmentsRiskMember" xlink:label="ecof_RestrictedAndIlliquidInvestmentsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RestrictedAndIlliquidInvestmentsRiskMember" xlink:to="ecof_RestrictedAndIlliquidInvestmentsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_RestrictedAndIlliquidInvestmentsRiskMember_lbl" xml:lang="en-US">Restricted and Illiquid Investments Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_ReverseRepurchaseAgreementRiskMember" xlink:label="ecof_ReverseRepurchaseAgreementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ReverseRepurchaseAgreementRiskMember" xlink:to="ecof_ReverseRepurchaseAgreementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_ReverseRepurchaseAgreementRiskMember_lbl" xml:lang="en-US">Reverse Repurchase Agreement Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_SovereignGovernmentAndSupranationalDebtRiskMember" xlink:label="ecof_SovereignGovernmentAndSupranationalDebtRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SovereignGovernmentAndSupranationalDebtRiskMember" xlink:to="ecof_SovereignGovernmentAndSupranationalDebtRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_SovereignGovernmentAndSupranationalDebtRiskMember_lbl" xml:lang="en-US">Sovereign Government and Supranational Debt Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_UnratedInvestmentsRiskMember" xlink:label="ecof_UnratedInvestmentsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_UnratedInvestmentsRiskMember" xlink:to="ecof_UnratedInvestmentsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_UnratedInvestmentsRiskMember_lbl" xml:lang="en-US">Unrated Investments Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_USGovernmentSecuritiesRiskMember" xlink:label="ecof_USGovernmentSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_USGovernmentSecuritiesRiskMember" xlink:to="ecof_USGovernmentSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_USGovernmentSecuritiesRiskMember_lbl" xml:lang="en-US">U.S. Government Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_ValuationRiskMember" xlink:label="ecof_ValuationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ValuationRiskMember" xlink:to="ecof_ValuationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_ValuationRiskMember_lbl" xml:lang="en-US">Valuation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember" xlink:label="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember" xlink:to="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember_lbl" xml:lang="en-US">Zero Coupon Bonds Risk or Pay-In-Kind Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_ActiveManagementRiskMember" xlink:label="ecof_ActiveManagementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ActiveManagementRiskMember" xlink:to="ecof_ActiveManagementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_ActiveManagementRiskMember_lbl" xml:lang="en-US">Active Management Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_BorrowingRiskMember" xlink:label="ecof_BorrowingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_BorrowingRiskMember" xlink:to="ecof_BorrowingRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_BorrowingRiskMember_lbl" xml:lang="en-US">Borrowing Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_IncomeRiskMember" xlink:label="ecof_IncomeRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_IncomeRiskMember" xlink:to="ecof_IncomeRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_IncomeRiskMember_lbl" xml:lang="en-US">Income Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_InvestmentAndMarketRiskMember" xlink:label="ecof_InvestmentAndMarketRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_InvestmentAndMarketRiskMember" xlink:to="ecof_InvestmentAndMarketRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_InvestmentAndMarketRiskMember_lbl" xml:lang="en-US">Investment and Market Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_LargeShareholderRiskMember" xlink:label="ecof_LargeShareholderRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LargeShareholderRiskMember" xlink:to="ecof_LargeShareholderRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LargeShareholderRiskMember_lbl" xml:lang="en-US">Large Shareholder Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_LeverageRiskMember" xlink:label="ecof_LeverageRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LeverageRiskMember" xlink:to="ecof_LeverageRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LeverageRiskMember_lbl" xml:lang="en-US">Leverage Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_RepurchaseOffersRiskMember" xlink:label="ecof_RepurchaseOffersRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RepurchaseOffersRiskMember" xlink:to="ecof_RepurchaseOffersRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_RepurchaseOffersRiskMember_lbl" xml:lang="en-US">Repurchase Offers Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_CertainAffiliationsMember" xlink:label="ecof_CertainAffiliationsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CertainAffiliationsMember" xlink:to="ecof_CertainAffiliationsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_CertainAffiliationsMember_lbl" xml:lang="en-US">Certain Affiliations [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_CounterpartyRiskMember" xlink:label="ecof_CounterpartyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CounterpartyRiskMember" xlink:to="ecof_CounterpartyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_CounterpartyRiskMember_lbl" xml:lang="en-US">Counterparty Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_CybersecurityRiskMember" xlink:label="ecof_CybersecurityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CybersecurityRiskMember" xlink:to="ecof_CybersecurityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_CybersecurityRiskMember_lbl" xml:lang="en-US">Cybersecurity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_DeflationRiskMember" xlink:label="ecof_DeflationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_DeflationRiskMember" xlink:to="ecof_DeflationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_DeflationRiskMember_lbl" xml:lang="en-US">Deflation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_FundTaxRiskMember" xlink:label="ecof_FundTaxRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_FundTaxRiskMember" xlink:to="ecof_FundTaxRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_FundTaxRiskMember_lbl" xml:lang="en-US">Fund Tax Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_GlobalEconomicRiskMember" xlink:label="ecof_GlobalEconomicRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_GlobalEconomicRiskMember" xlink:to="ecof_GlobalEconomicRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_GlobalEconomicRiskMember_lbl" xml:lang="en-US">Global Economic Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_LegislationAndRegulatoryRiskMember" xlink:label="ecof_LegislationAndRegulatoryRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LegislationAndRegulatoryRiskMember" xlink:to="ecof_LegislationAndRegulatoryRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LegislationAndRegulatoryRiskMember_lbl" xml:lang="en-US">Legislation and Regulatory Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_LitigationRiskMember" xlink:label="ecof_LitigationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LitigationRiskMember" xlink:to="ecof_LitigationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_LitigationRiskMember_lbl" xml:lang="en-US">Litigation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_OtherInvestmentCompaniesRisksMember" xlink:label="ecof_OtherInvestmentCompaniesRisksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_OtherInvestmentCompaniesRisksMember" xlink:to="ecof_OtherInvestmentCompaniesRisksMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_OtherInvestmentCompaniesRisksMember_lbl" xml:lang="en-US">Other Investment Companies Risks [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_PotentialConflictsOfInterestRiskMember" xlink:label="ecof_PotentialConflictsOfInterestRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_PotentialConflictsOfInterestRiskMember" xlink:to="ecof_PotentialConflictsOfInterestRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_PotentialConflictsOfInterestRiskMember_lbl" xml:lang="en-US">Potential Conflicts of Interest Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_RecentMarketConditionsRiskMember" xlink:label="ecof_RecentMarketConditionsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RecentMarketConditionsRiskMember" xlink:to="ecof_RecentMarketConditionsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_RecentMarketConditionsRiskMember_lbl" xml:lang="en-US">Recent Market Conditions Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ecof-20260713.xsd#ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember" xlink:label="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember" xlink:to="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember_lbl" xml:lang="en-US">Risks Related to the Fund's Clearing Broker and Central Clearing Counterparty [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BorrowingsMember" xlink:label="us-gaap_BorrowingsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BorrowingsMember" xlink:to="us-gaap_BorrowingsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BorrowingsMember_lbl" xml:lang="en-US">Borrowings [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ClassIMember" xlink:to="ecof_ClassIMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ClassIMember_doc" xml:lang="en-US">Class I.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ClassA1Member" xlink:to="ecof_ClassA1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ClassA1Member_doc" xml:lang="en-US">Class A1.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ClassA2Member" xlink:to="ecof_ClassA2Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ClassA2Member_doc" xml:lang="en-US">Class A2.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_BelowInvestmentGradeRiskMember" xlink:to="ecof_BelowInvestmentGradeRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_BelowInvestmentGradeRiskMember_doc" xml:lang="en-US">Below Investment Grade Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CLOsRiskMember" xlink:to="ecof_CLOsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CLOsRiskMember_doc" xml:lang="en-US">CLOs Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CallRiskMember" xlink:to="ecof_CallRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CallRiskMember_doc" xml:lang="en-US">Call Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CoCosRiskMember" xlink:to="ecof_CoCosRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CoCosRiskMember_doc" xml:lang="en-US">CoCos Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ConvertibleSecuritiesRiskMember" xlink:to="ecof_ConvertibleSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ConvertibleSecuritiesRiskMember_doc" xml:lang="en-US">Convertible Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CreditSpreadRiskMember" xlink:to="ecof_CreditSpreadRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CreditSpreadRiskMember_doc" xml:lang="en-US">Credit Spread Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_DebtSecuritiesRiskMember" xlink:to="ecof_DebtSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_DebtSecuritiesRiskMember_doc" xml:lang="en-US">Debt Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_DebtorInPossessionDIPFinancingRiskMember" xlink:to="ecof_DebtorInPossessionDIPFinancingRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_DebtorInPossessionDIPFinancingRiskMember_doc" xml:lang="en-US">Debtor-In-Possession (&#8220;DIP&#8221;) Financing Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_DefaultedAndDistressedInvestmentsRiskMember" xlink:to="ecof_DefaultedAndDistressedInvestmentsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_DefaultedAndDistressedInvestmentsRiskMember_doc" xml:lang="en-US">Defaulted and Distressed Investments Risk.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_DerivativesRiskMember_doc" xml:lang="en-US">Derivatives Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_DirectLendingRiskMember" xlink:to="ecof_DirectLendingRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_DirectLendingRiskMember_doc" xml:lang="en-US">Direct Lending Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_FairValueRiskMember" xlink:to="ecof_FairValueRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_FairValueRiskMember_doc" xml:lang="en-US">Fair Value Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ForeignCurrencyRiskMember" xlink:to="ecof_ForeignCurrencyRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ForeignCurrencyRiskMember_doc" xml:lang="en-US">Foreign Currency Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ForeignEmergingMarketsIssuerRiskMember" xlink:to="ecof_ForeignEmergingMarketsIssuerRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ForeignEmergingMarketsIssuerRiskMember_doc" xml:lang="en-US">Foreign/Emerging Markets Issuer Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_InflationRiskMember" xlink:to="ecof_InflationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_InflationRiskMember_doc" xml:lang="en-US">Inflation Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_InverseFloatingRateSecuritiesRiskMember" xlink:to="ecof_InverseFloatingRateSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_InverseFloatingRateSecuritiesRiskMember_doc" xml:lang="en-US">Inverse Floating Rate Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LitigationFinanceInvestmentsRiskMember" xlink:to="ecof_LitigationFinanceInvestmentsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LitigationFinanceInvestmentsRiskMember_doc" xml:lang="en-US">Litigation Finance Investments Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LoanRiskMember" xlink:to="ecof_LoanRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LoanRiskMember_doc" xml:lang="en-US">Loan Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_BroadlySyndicatedLoansRiskMember" xlink:to="ecof_BroadlySyndicatedLoansRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_BroadlySyndicatedLoansRiskMember_doc" xml:lang="en-US">Broadly Syndicated Loans Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CovenantLiteLoansRiskMember" xlink:to="ecof_CovenantLiteLoansRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CovenantLiteLoansRiskMember_doc" xml:lang="en-US">Covenant-lite Loans Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LoanOriginationRiskMember" xlink:to="ecof_LoanOriginationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LoanOriginationRiskMember_doc" xml:lang="en-US">Loan Origination Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MiddleMarketLoansRiskMember" xlink:to="ecof_MiddleMarketLoansRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_MiddleMarketLoansRiskMember_doc" xml:lang="en-US">Middle Market Loans Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SecondLienLoanAndUnsecuredLoansInvestmentsRiskMember" xlink:to="ecof_SecondLienLoanAndUnsecuredLoansInvestmentsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_SecondLienLoanAndUnsecuredLoansInvestmentsRiskMember_doc" xml:lang="en-US">Second Lien Loan and Unsecured Loans Investments Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SeniorLoanRiskMember" xlink:to="ecof_SeniorLoanRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_SeniorLoanRiskMember_doc" xml:lang="en-US">Senior Loan Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SeniorLoanAgentRiskMember" xlink:to="ecof_SeniorLoanAgentRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_SeniorLoanAgentRiskMember_doc" xml:lang="en-US">Senior Loan Agent Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_UnitrancheLoansRiskMember" xlink:to="ecof_UnitrancheLoansRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_UnitrancheLoansRiskMember_doc" xml:lang="en-US">Unitranche Loans Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LoanParticipationsRiskMember" xlink:to="ecof_LoanParticipationsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LoanParticipationsRiskMember_doc" xml:lang="en-US">Loan Participations Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MarketRiskMember" xlink:to="ecof_MarketRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_MarketRiskMember_doc" xml:lang="en-US">Market Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MarketLiquidityRiskMember" xlink:to="ecof_MarketLiquidityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_MarketLiquidityRiskMember_doc" xml:lang="en-US">Market Liquidity Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MBSAndABSRiskMember" xlink:to="ecof_MBSAndABSRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_MBSAndABSRiskMember_doc" xml:lang="en-US">MBS and ABS Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_MunicipalSecuritiesMarketRiskMember" xlink:to="ecof_MunicipalSecuritiesMarketRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_MunicipalSecuritiesMarketRiskMember_doc" xml:lang="en-US">Municipal Securities Market Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_NonUSSecuritiesRiskMember" xlink:to="ecof_NonUSSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_NonUSSecuritiesRiskMember_doc" xml:lang="en-US">Non-U.S. Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_OtherInvestmentCompaniesRiskMember" xlink:to="ecof_OtherInvestmentCompaniesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_OtherInvestmentCompaniesRiskMember_doc" xml:lang="en-US">Other Investment Companies Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_PreferredSecuritiesRiskMember" xlink:to="ecof_PreferredSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_PreferredSecuritiesRiskMember_doc" xml:lang="en-US">Preferred Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_PrivateCreditInvestmentsRiskMember" xlink:to="ecof_PrivateCreditInvestmentsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_PrivateCreditInvestmentsRiskMember_doc" xml:lang="en-US">Private Credit Investments Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RestrictedAndIlliquidInvestmentsRiskMember" xlink:to="ecof_RestrictedAndIlliquidInvestmentsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_RestrictedAndIlliquidInvestmentsRiskMember_doc" xml:lang="en-US">Restricted and Illiquid Investments Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ReverseRepurchaseAgreementRiskMember" xlink:to="ecof_ReverseRepurchaseAgreementRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ReverseRepurchaseAgreementRiskMember_doc" xml:lang="en-US">Reverse Repurchase Agreement Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_SovereignGovernmentAndSupranationalDebtRiskMember" xlink:to="ecof_SovereignGovernmentAndSupranationalDebtRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_SovereignGovernmentAndSupranationalDebtRiskMember_doc" xml:lang="en-US">Sovereign Government and Supranational Debt Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_UnratedInvestmentsRiskMember" xlink:to="ecof_UnratedInvestmentsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_UnratedInvestmentsRiskMember_doc" xml:lang="en-US">Unrated Investments Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_USGovernmentSecuritiesRiskMember" xlink:to="ecof_USGovernmentSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_USGovernmentSecuritiesRiskMember_doc" xml:lang="en-US">U.S. Government Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ValuationRiskMember" xlink:to="ecof_ValuationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ValuationRiskMember_doc" xml:lang="en-US">Valuation Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember" xlink:to="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ZeroCouponBondsRiskOrPayInKindSecuritiesRiskMember_doc" xml:lang="en-US">Zero Coupon Bonds Risk or Pay-In-Kind Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_ActiveManagementRiskMember" xlink:to="ecof_ActiveManagementRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_ActiveManagementRiskMember_doc" xml:lang="en-US">Active Management Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_BorrowingRiskMember" xlink:to="ecof_BorrowingRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_BorrowingRiskMember_doc" xml:lang="en-US">Borrowing Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_IncomeRiskMember" xlink:to="ecof_IncomeRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_IncomeRiskMember_doc" xml:lang="en-US">Income Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_InvestmentAndMarketRiskMember" xlink:to="ecof_InvestmentAndMarketRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_InvestmentAndMarketRiskMember_doc" xml:lang="en-US">Investment and Market Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LargeShareholderRiskMember" xlink:to="ecof_LargeShareholderRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LargeShareholderRiskMember_doc" xml:lang="en-US">Large Shareholder Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LeverageRiskMember" xlink:to="ecof_LeverageRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LeverageRiskMember_doc" xml:lang="en-US">Leverage Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RepurchaseOffersRiskMember" xlink:to="ecof_RepurchaseOffersRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_RepurchaseOffersRiskMember_doc" xml:lang="en-US">Repurchase Offers Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CertainAffiliationsMember" xlink:to="ecof_CertainAffiliationsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CertainAffiliationsMember_doc" xml:lang="en-US">Certain Affiliations.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CounterpartyRiskMember" xlink:to="ecof_CounterpartyRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CounterpartyRiskMember_doc" xml:lang="en-US">Counterparty Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_CybersecurityRiskMember" xlink:to="ecof_CybersecurityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_CybersecurityRiskMember_doc" xml:lang="en-US">Cybersecurity Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_DeflationRiskMember" xlink:to="ecof_DeflationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_DeflationRiskMember_doc" xml:lang="en-US">Deflation Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_FundTaxRiskMember" xlink:to="ecof_FundTaxRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_FundTaxRiskMember_doc" xml:lang="en-US">Fund Tax Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_GlobalEconomicRiskMember" xlink:to="ecof_GlobalEconomicRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_GlobalEconomicRiskMember_doc" xml:lang="en-US">Global Economic Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LegislationAndRegulatoryRiskMember" xlink:to="ecof_LegislationAndRegulatoryRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LegislationAndRegulatoryRiskMember_doc" xml:lang="en-US">Legislation and Regulatory Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_LitigationRiskMember" xlink:to="ecof_LitigationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_LitigationRiskMember_doc" xml:lang="en-US">Litigation Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_PotentialConflictsOfInterestRiskMember" xlink:to="ecof_PotentialConflictsOfInterestRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_PotentialConflictsOfInterestRiskMember_doc" xml:lang="en-US">Potential Conflicts of Interest Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RecentMarketConditionsRiskMember" xlink:to="ecof_RecentMarketConditionsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_RecentMarketConditionsRiskMember_doc" xml:lang="en-US">Recent Market Conditions Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember" xlink:to="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_RisksRelatedToTheFundsClearingBrokerAndCentralClearingCounterpartyMember_doc" xml:lang="en-US">Risks Related to the Fund's Clearing Broker and Central Clearing Counterparty.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecof_OtherInvestmentCompaniesRisksMember" xlink:to="ecof_OtherInvestmentCompaniesRisksMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ecof_OtherInvestmentCompaniesRisksMember_doc" xml:lang="en-US">Other Investment Companies Risks.</link:label>
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