Fund Evaluator:

Eaton Vance Equity Strategy A Overview

Eaton Vance Equity Strategy A (ERBAX) is an actively managed International Equity Global Large-Stock Blend fund. Eaton Vance launched the fund in 2010.

The investment seeks total return. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and derivative instruments that provide exposure to equity securities (the “80% Policy”). It may invest up to 20% of its net assets in fixed-income securities, including securities rated below investment grade and comparable unrated securities (“junk”); other fixed and floating-rate income instruments; and/or in currencies.

About Eaton Vance Equity Strategy A (ERBAX)

There are 2 members of the management team with an average tenure of 0.87 years: Jim Caron (2025), Schuyler Hooper (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. Eaton Vance Equity Strategy A has 270 securities in its portfolio. The top 10 holdings constitute 28.8% 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 Equity Strategy A is part of the Equity global asset class and is within the International Equity fund group. Eaton Vance Equity Strategy A has 28.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 70.5%. There is 28.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.2% (0.0% domestic bond, 0.2% foreign bond and 0.0% convertible bond). Eaton Vance Equity Strategy A has 0.7% of the portfolio in cash.

Assets Under Management

The fund has $166 million in total assets, which is below the $1 billion average for the Global Large-Stock Blend 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.

ERBAX 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 Equity Strategy A expense ratio is high compared to funds in the Global Large-Stock Blend category. Eaton Vance Equity Strategy A has an expense ratio of 1.12%, which is 7% higher than its category average, making the fund expense ratio grade a D. 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 Equity Strategy A has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 43% for the Global Large-Stock Blend category.

Recently, in the month of June 2026, Eaton Vance Equity Strategy A returned 0.4%, which earned it a grade of B, as the Global Large-Stock Blend category had an average return of -0.3%. 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 Equity Strategy A has a trailing yield of 0.71%, which is below the 0.96% category average. The fund normally distributes its income annually 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 Equity Strategy A Grades

Year to date, the fund has returned 11.2%, 2.2 percentage points better than the category, which translates into a grade of B. The fund has returned 22.8% over the past year (grade of B), 16.1% over the past three years (grade of D) and 8.7% per year over the past five years (grade of D) and 11.3% per year over the past 10 years (grade of C).

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