In plain terms — Eaton Vance Ltd Duration Income Fund
Shares currently cost about 13.0% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 7.2% discount, so today's level is unusually wide for this fund (Z-score -2.4). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 9.6% a year of the share price (8.3% 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 $1.15 of assets — a ReinvestCapture™ rate of 11.0%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 1.0% 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 | -9.76% | 1.76% | -1.62 | 64 |
| 6 months | -8.80% | 1.68% | -2.26 | 126 |
| 1 year | -7.19% | 2.23% | -2.42 | 250 |
| 3 years | -6.26% | — | — | — |
| 5 years | -6.35% | — | — | — |
Current contemporaneous premium/discount -12.60% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.83% to -3.42%. 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 | -5.18% | -11.60% | -16.95% | -17.86% | -2.28% | -9.04% |
| Market price total return | -4.41% | -9.49% | -10.38% | -10.05% | +7.13% | +0.35% |
| NAV return | -1.64% | -4.29% | -8.48% | -8.31% | -1.55% | -6.36% |
| NAV total return | -1.64% | -2.94% | -2.54% | -0.98% | +7.07% | +2.53% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Eaton Vance Limited Duration Income Fund, a closed-end investment vehicle overseen by Eaton Vance Management, primarily seeks income within the United States' fixed income markets. Its primary allocations include senior, secured, floating-rate loans; mortgage-backed securities issued by government agencies; and corporate bonds rated below investment grade. A key aspect of its strategy is to maintain an average portfolio duration of three and a half years, coupled with an average credit quality of BBB/BBB-. Performance is measured against a set of benchmarks: the S&P/LSTA Leveraged Loan Index, the Merrill Lynch U.S. High Yield Index, and the Barclays Capital U.S. Intermediate Government Bond Index. The fund was established on May 30, 2003, and is domiciled in the United States.
CEF Explorer research page for Eaton Vance Ltd Duration 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.