In plain terms — Eaton Vance Enhanced Equity Income Fund
Shares currently cost about 9.2% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 4.8% discount, so today's level is somewhat wide for this fund (Z-score -1.1). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.1% a year of the share price (7.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.10 of assets — a ReinvestCapture™ rate of 9.0%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 12.8% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -6.63% | 0.75% | -0.98 | 64 |
| 6 months | -6.55% | 0.93% | -0.89 | 126 |
| 1 year | -4.81% | 2.28% | -1.12 | 250 |
| 3 years | -2.27% | — | — | — |
| 5 years | -1.03% | — | — | — |
Current contemporaneous premium/discount -7.37% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -8.98% to -0.33%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | +1.01% | -0.99% | -3.16% | -2.88% | +8.65% | +1.24% |
| Market price total return | +1.71% | +1.02% | +2.84% | +5.21% | +17.72% | +9.65% |
| NAV return | +3.14% | +1.88% | +2.94% | +4.48% | +10.64% | +2.87% |
| NAV total return | +3.80% | +3.81% | +9.01% | +12.79% | +19.67% | +11.33% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Managed by Eaton Vance Management, the Eaton Vance Enhanced Equity Income Fund operates as a closed-end equity mutual fund. Its investment mandate focuses on publicly traded companies domiciled within the United States. The fund's strategy involves allocating capital across a diverse array of sectors, targeting large and mid-sized corporations. Key to its security selection process is identifying businesses exhibiting above-average growth potential and sound financial standing, assessed against their current market valuation. Performance is gauged relative to the S&P 500 Index. Established on October 29, 2004, this U.S.-domiciled fund provides enhanced equity income.
CEF Explorer research page for Eaton Vance Enhanced Equity Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.