Eaton Vance National Municipal Opportunities Trust

07/01/2022 | Press release | Archived content

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Distribution Rates1
as of Jul 01, 2022
Distribution Rate at NAV 4.00%
Taxable-Equivalent Distribution Rate at NAV 6.75%
Distribution Rate at Market Price 4.05%
Taxable-Equivalent Distribution Rate at Market Price 6.84%
Fund Factsas of May 31, 2022
Performance Inception 05/29/2009
Investment Objective Current income
CUSIP 27829L105
Fund Facts
Performance Inception 05/29/2009
Investment Objective Current income
CUSIP 27829L105
Expense Ratios (%)2
as of Annual Report dated 03/31/2022
Management Fees 0.64
Other Expenses 0.09
Total Expenses (ex Interest and Fee Expense) 0.73
Interest and Fee Expense 0.06
Total Expenses 0.79
Portfolio Management
Cynthia J. Clemson Managed Fund since inception
William J. Delahunty, CFA Managed Fund since 2021

The information included herein does not reflect securities deemed to be held by the Fund pursuant to financial accounting standard 140 (FAS 140).

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Fund are only available for purchase and sale at current market price on a stock exchange. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Investors should review and consider carefully the Fund's investment objective, risks, charges and expenses.

The premium/discount is calculated as [(market price/NAV)-1].

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Eaton Vance Distributors, Inc., Member FINRA/SIPC, is an affiliate of Eaton Vance Management.

RISK CONSIDERATIONS;

The value of investments held by the Trust may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. Investments in debt instruments may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Because the Trust may invest significantly in a particular sector, the NAV of the Trust's shares may fluctuate more than a fund with less exposure to such sector. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. The Trust's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Trust), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Trust shares may decline and/or the Trust could experience delays in the return of collateral or other assets held by the counterparty. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund's performance. The Trust may engage in other investment practices that may involve additional risks.


1. Distribution Rate at NAV and Market Price is calculated by dividing the last distribution paid per share (annualized) by NAV or market price, respectively. For National Municipal Funds, Taxable-Equivalent Distribution Rate at NAV and Market Price is calculated using a 40.8% tax rate (equals maximum individual federal tax rate adjusted for the Medicare surtax). For Single-State Municipal Funds, Taxable-Equivalent Distribution Rates also reflect maximum effective individual state income tax rates. Local income taxes that may apply are not considered. A Fund's distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with "yield" or "income."
2. Interest and fee expense relates to the liability for floating rate notes issued in conjunction with residual interest bond transactions.