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Eaton Vance Floating Rate Income Closed Fund (EFT)
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Upturn Advisory Summary
01/09/2026: EFT (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 19.03% | Avg. Invested days 63 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 326.59M USD | Price to earnings Ratio 8.58 | 1Y Target Price - |
Price to earnings Ratio 8.58 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.46 | 52 Weeks Range 10.44 - 13.88 | Updated Date 06/29/2025 |
52 Weeks Range 10.44 - 13.88 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 9.13% | Basic EPS (TTM) 1.44 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 70.66% | Operating Margin (TTM) 90.92% |
Management Effectiveness
Return on Assets (TTM) 5.36% | Return on Equity (TTM) 10.97% |
Valuation
Trailing PE 8.58 | Forward PE - | Enterprise Value 523186496 | Price to Sales(TTM) 6.06 |
Enterprise Value 523186496 | Price to Sales(TTM) 6.06 | ||
Enterprise Value to Revenue 11.51 | Enterprise Value to EBITDA - | Shares Outstanding 26444900 | Shares Floating - |
Shares Outstanding 26444900 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 29.77 |
Upturn AI SWOT
Eaton Vance Floating Rate Income Closed Fund
Company Overview
History and Background
The Eaton Vance Floating Rate Income Closed Fund (NYSE: EFT) is a closed-end investment fund managed by Eaton Vance Investment Management. Established on November 27, 2001, its primary objective is to provide current income and capital appreciation. The fund invests in a diversified portfolio of floating-rate debt instruments, primarily senior secured floating-rate loans. Over time, it has navigated various market cycles, adjusting its portfolio composition to capitalize on opportunities in the floating-rate credit space.
Core Business Areas
- Floating-Rate Debt Investment: The fund's core business is investing in and managing a portfolio of floating-rate debt instruments, including senior secured loans and other floating-rate securities. This strategy aims to generate income that adjusts with prevailing interest rates.
Leadership and Structure
The fund is managed by a team of investment professionals at Eaton Vance, a subsidiary of Morgan Stanley Investment Management. Specific portfolio managers are responsible for the day-to-day management and investment decisions. As a closed-end fund, it has a fixed number of shares traded on a stock exchange.
Top Products and Market Share
Key Offerings
- Description: The fund's primary offering is its diversified portfolio of floating-rate senior loans and other credit instruments. This portfolio is managed actively to seek income and capital appreciation. Market share data for individual closed-end funds is not typically reported in the same way as open-end mutual funds or ETFs, but EFT is a significant player within the floating-rate closed-end fund segment. Competitors include other closed-end funds focusing on floating-rate debt and broadly syndicated loans, as well as some actively managed ETFs and mutual funds in the senior loan space.
- Product Name 1: Eaton Vance Floating Rate Income Closed Fund (EFT) - Investment Portfolio
Market Dynamics
Industry Overview
The market for floating-rate debt and senior loans is influenced by interest rate environments, economic growth, corporate credit quality, and investor demand for income-generating assets. In periods of rising interest rates, floating-rate instruments become more attractive due to their ability to adjust coupon payments upwards, potentially preserving value better than fixed-rate instruments. The overall market for leveraged loans is substantial, driven by corporate borrowing for acquisitions, recapitalizations, and general corporate purposes.
Positioning
Eaton Vance Floating Rate Income Closed Fund is positioned as a vehicle for investors seeking exposure to the floating-rate senior loan market. Its competitive advantages include the expertise of its management team, its focus on a specific asset class, and its closed-end structure which can offer a yield advantage through potential trading at a discount to Net Asset Value (NAV).
Total Addressable Market (TAM)
The Total Addressable Market (TAM) for senior loans and floating-rate debt is vast, encompassing trillions of dollars globally. Eaton Vance Floating Rate Income Closed Fund, as a single closed-end fund, targets a specific segment within this larger market, aiming to capture a share of investor capital allocated to this asset class.
Upturn SWOT Analysis
Strengths
- Experienced management team with expertise in credit analysis and floating-rate debt.
- Focus on a defensive asset class (floating-rate senior loans) that can perform well in rising rate environments.
- Closed-end structure allows for potential trading at a discount to NAV, enhancing yield.
- Diversified portfolio to mitigate individual credit risk.
Weaknesses
- Sensitivity to economic downturns and potential for increased defaults in the leveraged loan market.
- Closed-end structure can lead to volatility in share price independent of NAV.
- Interest rate risk, although mitigated by floating rates, can still impact NAV if rates fall significantly.
- Reliance on active management, with performance dependent on manager skill.
Opportunities
- Potential for rising interest rates to increase portfolio income.
- Investor demand for income-generating assets in a search for yield.
- Opportunities to invest in attractive credit opportunities during market dislocations.
- Potential for capital appreciation if credit spreads narrow.
Threats
- Economic recession leading to increased loan defaults and credit losses.
- Significant decline in interest rates, reducing portfolio income and potentially NAV.
- Increased competition from other senior loan funds (ETFs, open-end funds, other CEFs).
- Credit rating downgrades of portfolio holdings.
Competitors and Market Share
Key Competitors
- Invesco Senior Secured Short-Term Loan ETF (BKLN)
- SPDR Blackstone Senior Loan ETF (SRLN)
- Nuveen Senior Floating Rate Income Fund (NSF)
- BlackRock Floating Rate Income Trust (HIO)
- Apollo Senior Floating Rate Fund (AFR)
Competitive Landscape
Eaton Vance Floating Rate Income Closed Fund competes in a crowded space with other closed-end funds, ETFs, and mutual funds offering exposure to senior loans and floating-rate debt. Its advantages lie in its specific investment mandate and management expertise. Potential disadvantages could include its fund structure, trading at a discount to NAV, and the performance of its specific holdings relative to competitors.
Growth Trajectory and Initiatives
Historical Growth: The growth of the fund is primarily reflected in the growth of its NAV and its ability to consistently generate income. Its asset base can grow through market appreciation of its holdings or through share issuance if it trades at a premium, though this is less common for income-focused CEFs.
Future Projections: Future projections are contingent on the performance of the broader floating-rate credit market, interest rate trends, and the effectiveness of the fund's management strategy. Analyst estimates for CEFs are often focused on NAV trends and distribution sustainability.
Recent Initiatives: Information on recent strategic initiatives would typically be found in the fund's annual and semi-annual reports, or through press releases from Eaton Vance/Morgan Stanley. These might include portfolio adjustments, changes in leverage, or efforts to enhance shareholder value.
Summary
Eaton Vance Floating Rate Income Closed Fund is a specialized investment vehicle focused on floating-rate debt. Its strength lies in its management expertise and its ability to benefit from rising interest rates, a defensive characteristic in fixed income. However, it faces risks from economic downturns and increased competition. Continued success depends on effective credit selection and navigating interest rate cycles to provide consistent income and preserve NAV.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Eaton Vance (now Morgan Stanley Investment Management) Fund Reports
- Financial News Websites (e.g., Bloomberg, Wall Street Journal)
- Financial Data Providers (e.g., Refinitiv, Morningstar)
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. The data provided is based on publicly available information and may not be exhaustive or entirely up-to-date. Investment decisions should be made in consultation with a qualified financial advisor. Market share data for closed-end funds is an estimation based on relative size within the segment.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Eaton Vance Floating Rate Income Closed Fund
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 2004-07-26 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Eaton Vance Floating-Rate Income Trust is a closed-ended fixed income mutual fund launched and managed by Eaton Vance Management. The fund invests in fixed income markets of the United States. It invests in fixed income securities operating across diversified sectors. The fund primarily invests in senior, secured floating rate loans. It benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index. Eaton Vance Floating-Rate Income Trust was formed on June 29, 2004 and is domiciled in the United States.
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