Fund Evaluator:
Eaton Vance Total Return Bond C (ECBAX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
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| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
Eaton Vance Total Return Bond C Overview
Eaton Vance Total Return Bond C (ECBAX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Eaton Vance launched the fund in 2009.
The investment seeks total return. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds and other fixed and floating-rate income instruments (the "80% Policy"). It may invest up to 35% of its net assets in bonds and other fixed and floating-rate income instruments rated below investment grade and in unrated instruments determined by the investment adviser to be of below investment grade quality (“junk bonds”).
About Eaton Vance Total Return Bond C (ECBAX)
There are 2 members of the management team with an average tenure of 5.41 years: Vishal Khanduja (2019), Brian Ellis (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Universal TR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Eaton Vance Total Return Bond C has 522 securities in its portfolio. The top 10 holdings constitute 41.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Eaton Vance Total Return Bond C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Eaton Vance Total Return Bond C has 14.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.1% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 89.4% (74.8% domestic bond, 14.6% foreign bond and 0.8% convertible bond). Eaton Vance Total Return Bond C has 9.3% of the portfolio in cash.
Assets Under Management
The fund has $43 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ECBAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Eaton Vance Total Return Bond C expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. Eaton Vance Total Return Bond C has an expense ratio of 1.49%, which is 91% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Eaton Vance Total Return Bond C has a portfolio turnover rate of 420%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Eaton Vance Total Return Bond C returned -1.3%, which earned it a grade of B, as the Intermediate Core-Plus Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Eaton Vance Total Return Bond C has a trailing yield of 4.16%, which is below the 4.36% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Eaton Vance Total Return Bond C Grades
Year to date, the fund has returned -1.0%, 0.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.5% over the past year (grade of D), 4.8% over the past three years (grade of A) and 0.1% per year over the past five years (grade of B) and 2.2% per year over the past 10 years (grade of B).
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ECBAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ECBAX Return (NAV) | -1.3% | -0.8% | 2.5% | 4.8% | 0.1% | 2.2% |
| ECBAX Grade | B | D | D | A | B | B |
| +/- Category | 0.0% | -0.1% | -0.2% | 0.6% | 0.2% | 0.4% |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| ECBAX Tax Cost Ratio | na | na | 1.7% | 1.8% | 1.6% | 1.3% |
ECBAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ECBAX Return (NAV) | -1.0% | 8.1% | 3.3% | 5.9% | -13.7% | 2.0% | 4.7% | 9.7% | -1.8% | 6.6% | 10.6% |
| ECBAX Grade | F | A | A | D | C | A | F | B | F | A | A |
| +/- Category | -0.4% | 0.8% | 1.0% | -0.2% | -0.3% | 2.6% | -3.9% | 0.6% | -0.9% | 2.2% | 6.2% |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.4% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 0.96 - Low |
| Category Risk Grade: | A (18% Rank) |
| Beta: | 0.95 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na Moderate Sensitivity |
| Yield: | 4.2% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4367 Mil |
| Fund Total Assets: | $ 43 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 420% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.1 years | |||
| Average Tenure: 5.4 years | |||
| Managers (Year): Khanduja Vishal (2019), Ellis Brian (2022) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 522 |
| % in Top 10 Holdings: | 41.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 14.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 74.8% |
| Foreign Bond: | 14.6% |
| Convertible Bond: | 0.8% |
| Other: | 0.0% |
| Cash: | 9.3% |
Purchase Information
| Fund Family: | Eaton Vance |
| Phone Number: | 800-262-1122 |
| Website: | www.eatonvance.com |
| Status: | Open |
| Inception Date: | November 17, 2009 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.49% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Eaton Vance Total Return Bond I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
