Eaton Vance Emerging Markets Debt Opportunities Fund
Actively managed bond fund
As of its 2026 Q2 report, Eaton Vance Emerging Markets Debt Opportunities Fund held 595 positions with $4.68B in net assets. Its ten largest holdings made up 30.3% of the fund. The EELDX share class costs 0.73% a year. Over the 12 months to May 2026, EELDX returned 18.7%, with dividends reinvested. In 2026 Q3 it added 200 new positions and exited 186.
The Funds investment objective is total return.
The fund invests at least 80% of net assets in income instruments issued by emerging market entities or sovereigns, and derivative instruments based on emerging market currencies, interest rates or securities, seeking to outperform the J.P. Morgan Emerging Markets Bond Hard Currency/Local Currency 50-50 Index through country selection, currency management, security selection and duration decisions. The fund is non-diversified and may invest a greater percentage of its assets in securities of a single issuer than a diversified fund. Because the fund's actual results may diverge materially from its target ranges over shorter market cycles, realized performance could differ substantially from stated objectives. The fund expects extensive use of derivatives, including forwards, futures, swaps and options, which may create economic leverage.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
MVRXXMorgan Stanley & Co. LLC | 15.62% | $731.20M | — |
EGYPT GOVERNMENT BOND 19.98% · due 2030-05-20 | 2.18% | $102.07M | — |
POLAND GOVERNMENT BOND 2.00% · due 2036-08-25 | 2.14% | $100.00M | — |
NOTA DO TESOURO NACIONAL 6.00% · due 2035-05-15 | 1.83% | $85.77M | — |
MEX BONOS DESARR FIX RT 7.75% · due 2034-11-23 | 1.56% | $72.98M | — |
INDIA GOVERNMENT BOND 7.24% · due 2055-08-18 | 1.50% | $70.42M | — |
Argentina Bonar Bonds 0.75% floating · due 2030-07-09 | 1.49% | $69.92M | — |
UZBEKISTAN INTL BOND 12.25% · due 2029-04-13 | 1.44% | $67.40M | — |
FEDERAL REP OF ETHIOPIA 6.63% · due 2024-12-11 | 1.27% | $59.57M | — |
ARMENIAN TREASURY BONDS 9.00% · due 2035-10-29 | 1.22% | $57.15M | — |
The 200 largest of 595 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 67.01% |
| Cash & short-term | 22.45% |
| Loans | 5.11% |
| Derivatives | 1.06% |
| Stocks | 0.00% |
Derivatives are shown at market value, not notional exposure.
How it has done
EELDX share class · total returns with dividends reinvested
Volatility over the last 12 months: 5.78%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 3 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.73% | +18.69% | +54.81% | +49.67% | -3.07% | |
| 1.06% | +18.32% | +53.19% | +47.07% | -2.98% | |
| 0.81% | +18.62% | +54.34% | +48.99% | -3.07% |
These classes hold the same portfolio, so the 2.60pp spread over 5 years is the cost difference between them — roughly 0.52pp a year — not a difference in what they own.
Fees & fund details
Eaton Vance Emerging Markets Debt Opportunities Fund is an actively managed bond fund.
- Asset class
- Bonds
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Features
- Non-diversified
- Expense ratio, by class
- 0.73% – 1.06%· EELDX 0.73%
- Portfolio turnover
- 106.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
200 new· the largest 7
186 exited· the largest 5
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 82.9% |
| Floating rate | 8.7% |
| Zero-coupon or unclassified | 8.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 8.2% |
| 1-3y | 15.9% |
| 3-5y | 28.0% |
| 5-10y | 35.8% |
| 10y+ | 12.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 66% |
| Credit spreads | 34% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +1.45 yr |
| Investment grade | +0.02 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.56 yr | 19% |
| 5 yr | 1.17 yr | 40% |
| 10 yr | 0.93 yr | 32% |
| 30 yr | 0.20 yr | 7% |
| 3 mo | 0.03 yr | 2% |
| 1 yr | 0.35 yr | 24% |
| 5 yr | 0.75 yr | 51% |
| 10 yr | 0.27 yr | 18% |
| 30 yr | 0.08 yr | 5% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.00 | +0.02 | $1.0k | $11.1k |
| 1 yr | +0.56 | +0.02 | +0.33 | $7.6k | $156.0k |
| 5 yr | +1.17 | +0.00 | +0.75 | $1.1k | $349.7k |
| 10 yr | +0.93 | +0.00 | +0.27 | $1.3k | $124.8k |
| 30 yr | +0.20 | +0.00 | +0.08 | $0 | $37.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 2.88 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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