EATON VANCE MULTI-ASSET CREDIT FUND
Supplement to Statement of Additional Information dated March 1, 2026
as may be supplemented and/or revised from time to time
The following replaces the tables under “Portfolio Managers.” in “Investment Advisory and Administrative Services”:
| Number
of All Accounts |
Total
Assets of All Accounts |
Number
of Accounts Paying a Performance Fee |
Total
Assets of Accounts Paying a Performance Fee | |
| Justin H. Bourgette, CFA1 | ||||
| Registered Investment Companies2 | 13 | $39,897.0 | 0 | $0 |
| Other Pooled Investment Vehicles | 15 | $4,250.9 | 0 | $0 |
| Other Accounts | 24 | $13,968.8 | 1 | $313.5 |
| Jeffrey D. Mueller1 | ||||
| Registered Investment Companies2 | 7 | $9,479.8 | 0 | $0 |
| Other Pooled Investment Vehicles | 11 | $3,637.2 | 0 | $0 |
| Other Accounts | 4 | $7,548.9 | 0 | $0 |
| Kelley Gerrity1 | ||||
| Registered Investment Companies2 | 2 | $2,754.5 | 0 | $0 |
| Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| Other Accounts | 4 | $0 | 0 | $0 |
| Chris Stadtler, CFA3 | ||||
| Registered Investment Companies2 | 0 | $0 | 0 | $0 |
| Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| Other Accounts | 0 | $0 | 0 | $0 |
| 1 | This portfolio manager serves as portfolio manager of one or more registered investment companies and/or pooled investment vehicles that invest or may invest in one or more underlying registered investment companies and/or separate pooled investment vehicles in the Eaton Vance family of funds. The underlying investment companies may be managed by this portfolio manager or another portfolio manager. |
| 2 | Includes the Fund. |
| 3 | As of July 31, 2026. |
The following table shows the dollar range of equity securities beneficially owned (or held notionally through IMAP) in the Fund by its portfolio manager(s) as of the Fund’s most recent fiscal year ended October 31, 2025 and in the Eaton Vance family of funds as of December 31, 2025.
| Portfolio Managers | Dollar
Range of Equity Securities Beneficially Owned in the Fund |
Aggregate
Dollar Range of Equity Securities Beneficially Owned in the Eaton Vance Family of Funds |
| Justin H. Bourgette, CFA | $100,001 - $500,000 | $100,001 - $500,000 |
| Jeffrey D. Mueller | $50,001 - $100,000 | $100,001 - $500,000 |
| Kelley Gerrity | $50,001 - $100,000 | $50,001 - $100,000 |
| Chris Stadtler, CFA1 | None | None |
| 1 | As of July 31, 2026. |
September 30, 2026