Eaton Vance California Municipal Opportunities Fund (EACAX)

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Eaton Vance California Municipal Opportunities Fund (EACAX) is up 2.1% since the beginning of the year. EACAX is currently trading at $10 per share. Investors who bought $1,000 worth of EACAX shares 5 years ago would now be looking at an investment worth $1,077.

Eaton Vance California Municipal Opportunities Fund (EACAX) has returned 2.06% so far this year and 7.65% over the past 12 months. Over the last ten years, EACAX has returned 2.26% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since May 27, 1994, EACAX's average daily return is +0.02%, while the average monthly return is +0.37%. At this rate, an investment would double in approximately 15.6 years.

Historically, 64% of months were positive and 36% were negative. The best month was Jan 2009 with a return of +8.9%, while the worst month was Feb 2008 at -8.2%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.

On a daily basis, EACAX closed higher 39% of trading days. The best single day was Oct 22, 2008 with a return of +3.7%, while the worst single day was Oct 10, 2008 at -3.5%.

Eaton Vance California Municipal Opportunities Fund has an annualized alpha of 4.38%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since May 27, 1994.

• This fund captured 14.07% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.33%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

EACAX has an expense ratio of 0.71%, placing it in the medium range.

EACAX ranks 73 for risk / return — better than 73% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Eaton Vance California Municipal Opportunities Fund provided a 3.50% dividend yield over the last twelve months, with an annual payout of $0.35 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Eaton Vance California Municipal Opportunities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Eaton Vance California Municipal Opportunities Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Eaton Vance California Municipal Opportunities Fund was 25.41%, occurring on Dec 16, 2008. Recovery took 193 trading sessions.

The current Eaton Vance California Municipal Opportunities Fund drawdown is 0.11%.

The chart below shows the rolling one-month volatility.