- Issuer
- Eaton Vance
- Inception Date
- Nov 27, 2009
- Category
- Emerging Markets Bonds
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
EEIIX Performance Chart
Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX) is up 4.4% since the beginning of the year. EEIIX is currently trading at $4 per share. Investors who bought $1,000 worth of EEIIX shares 5 years ago would now be looking at an investment worth $1,270.
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Returns By Period
Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX) has returned 4.44% so far this year and 17.13% over the past 12 months. Over the last ten years, EEIIX has returned 5.36% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Eaton Vance Emerging Markets Local Income Fund Class I
- 1D
- -0.56%
- 1M
- 1.63%
- YTD
- 4.44%
- 6M
- 5.46%
- 1Y
- 17.13%
- 3Y*
- 10.50%
- 5Y*
- 4.89%
- 10Y*
- 5.36%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
EEIIX Monthly Returns History
Based on dividend-adjusted daily data since Nov 27, 2009, EEIIX's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, an investment would double in approximately 16.1 years.
Historically, 59% of months were positive and 42% were negative. The best month was Mar 2016 with a return of +9.5%, while the worst month was Mar 2020 at -14.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, EEIIX closed higher 45% of trading days. The best single day was Jun 29, 2012 with a return of +3.0%, while the worst single day was Mar 12, 2020 at -4.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.00% | 2.68% | -6.58% | 4.30% | 0.77% | 0.56% | 4.44% | ||||||
| 2025 | 3.18% | 0.93% | 1.25% | 3.42% | 2.12% | 3.21% | -1.26% | 2.90% | 1.97% | 1.36% | 1.93% | 2.41% | 26.00% |
| 2024 | -1.69% | 0.00% | 1.17% | -2.34% | 2.72% | -1.48% | 2.44% | 2.99% | 3.23% | -5.16% | -0.60% | -1.86% | -0.97% |
| 2023 | 4.78% | -3.43% | 4.83% | 1.58% | -1.22% | 3.59% | 2.12% | -2.85% | -3.98% | -0.89% | 5.79% | 3.49% | 13.95% |
| 2022 | -0.60% | -5.20% | -3.31% | -3.72% | 0.88% | -4.51% | -1.38% | 0.18% | -5.07% | 0.82% | 8.31% | 2.22% | -11.53% |
| 2021 | -1.24% | -2.61% | -4.06% | 2.53% | 2.30% | -0.74% | -0.35% | 1.51% | -3.42% | -1.01% | -1.89% | 1.41% | -7.57% |
Benchmark Metrics
Eaton Vance Emerging Markets Local Income Fund Class I has an annualized alpha of 0.94%, beta of 0.24, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since November 27, 2009.
- This fund participated in 56.06% of S&P 500 Index downside but only 37.67% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.24 may look defensive, but with R2 of 0.22 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 0.22 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.
- Alpha
- 0.94%
- Beta
- 0.24
- R²
- 0.22
- Upside Capture
- 37.67%
- Downside Capture
- 56.06%
Expense Ratio
EEIIX has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
EEIIX ranks 61 for risk / return — better than 61% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EEIIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.78 | -0.44 |
| Martin ratioReturn relative to average drawdown | 8.36 | 12.44 | -4.08 |
Dividends
Dividend History
Eaton Vance Emerging Markets Local Income Fund Class I provided a 10.20% dividend yield over the last twelve months, with an annual payout of $0.36 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.37 | $0.36 | $0.41 | $0.48 | $0.51 | $0.54 | $0.76 | $0.57 | $0.58 | $0.68 | $0.72 |
Dividend yield | 10.20% | 10.36% | 11.46% | 11.62% | 13.71% | 11.49% | 10.06% | 13.31% | 10.80% | 9.04% | 11.27% | 12.21% |
Monthly Dividends
The table displays the monthly dividend distributions for Eaton Vance Emerging Markets Local Income Fund Class I. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.15 | ||||||
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.37 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2023 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.41 |
| 2022 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.48 |
| 2021 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.51 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Eaton Vance Emerging Markets Local Income Fund Class I. 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 Emerging Markets Local Income Fund Class I was 31.11%, occurring on Jan 20, 2016. Recovery took 513 trading sessions.
The current Eaton Vance Emerging Markets Local Income Fund Class I drawdown is 1.33%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2016 bear market2016 | -31.11%Jan 2016 | 2y 8mo | 2y 13d | 4y 8moMay 2013 - Feb 2018 |
Bear market2022 | -28.05%Oct 2022 | 1y 9mo | 2y 6mo | 4y 3moJan 2021 - Apr 2025 |
COVID crash2020 | -21.20%Mar 2020 | 1mo 26d | 7mo 29d | 9mo 25dJan 2020 - Nov 2020 |
Rate-hike selloffLate 2018 | -16.58%Sep 2018 | 7mo 5d | 10mo 13d | 1y 5moFeb 2018 - Jul 2019 |
2011 correction2011 | -12.91%Nov 2011 | 3mo 25d | 9mo 23d | 1y 1moAug 2011 - Sep 2012 |
Drawdown Indicators
| EEIIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.11% | -56.78% | +25.67% |
Max Drawdown (1Y)Largest decline over 1 year | -7.20% | -9.10% | +1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -9.28% | -18.90% | +9.62% |
Max Drawdown (5Y)Largest decline over 5 years | -25.70% | -25.43% | -0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -28.05% | -33.92% | +5.87% |
Current DrawdownCurrent decline from peak | -1.33% | -1.80% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -10.71% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.03% | -0.02% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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