EV MI Municipal Income:EMI

    Overview

    As of 7/7/2015

     Share
    Price
    NAVPremium/
    Discount
    Current$12.44$14.49-14.15%
    52 Wk Avg$12.64$14.62-13.53%
    52 Wk High$13.24$15.23-10.54%
    52 Wk Low$12.24$13.99-15.65%
    Regular Distribution TypeIncome Only
    Distribution Rate5.70%
    Distribution Amount$0.0591
    Distribution FrequencyMonthly
    Taxable Equivalent Yield8.78%
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks current income exempt from Federal and MI income taxes through investment in investment grade MI municipal securities

    Capital Structure

    As of 7/7/2015

    Total Net Assets:$47.682M
    Total Common Assets:$30.187M
    Common Shares Outstanding:2,083,294
    Leverage

    As of 11/30/2014

    Preferred Share Assets: $18.000M
    Type of Preferred: Auction preferred stock
    Total Debt (USD):
    Structural Leverage (USD): $18.000M
    Structural Leverage (%): 36.46%
    Effective Leverage (USD): $18.000M
    Effective Leverage (%): 36.46%
    Preferred Share Rates
    Date Symbol Series Rate Shares
    Annual Expense Ratios

    As of 11/30/2014

      Per Common Share
    Management Fees1.00%
    Other Expenses:0.80%
    Baseline Expense: 1.81%
    Interest Expense:0.00%
    Total: 1.81%

    Fund Management

    Fund Sponsor
    Eaton Vance

    Portfolio Managers
    Thomas M. Metzold (03 Mar 2014)

    Basics
    Category:Tax-Free Income-Michigan
    Ticker:EMI
    NAV Ticker:XEMIX
    Average Daily Volume (shares):
    Average Daily Volume (USD): 
    Inception Date:1/29/1999
    Inception Share Price:$15.00
    Inception NAV:$14.97
    Tender Offer:No
    Term:No
    Fiscal Year End:November 30
    Third Party Links & Reports

    Distributions

    As of 7/7/2015

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 12/31/2014
    $0.0595
    Annualized Distribution Rate on NAV:
    As of 7/7/2015
    4.91%
    Total Return on NAV (12 months):
    As of 7/7/2015
    8.04%
    Avg. UNII Per Share:
    As of 12/31/2014
    $0.0273
    Avg. Portfolio Coupon:
    As of 7/7/2015
    4.86%
    Total % Portfolio Effectively Leveraged:
    As of 7/7/2015
    36.46%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 7/7/2015

    PeriodAvg Discount
    6 Month-13.11%
    1 Year-13.53%
    3 Year-10.82%
    5 Year-9.01%
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 7/7/2015
    Category: State Municipal MI Leveraged Non-Insured

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD0.63%0.15%-0.10%-0.28%
    201421.47%21.51%18.09%18.92%
    2013-14.67%-8.58%-14.04%-8.15%
    201213.13%13.05%7.80%11.93%
    201121.08%20.07%23.12%16.84%
    20103.18%0.38%8.26%1.57%
    200959.35%31.54%39.62%19.44%
    2008-32.35%-22.70%-22.25%-9.93%
    2007-6.70%-1.81%-6.83%1.30%
    20067.90%7.03%5.63%5.13%
    2005-13.55%4.98%-2.55%4.19%
    200410.32%5.40%5.40%6.50%
    200320.20%9.66%15.36%7.79%
    200216.24%14.29%  
    200121.07%4.57%  
    200021.88%31.85%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 7/7/2015
    Category: State Municipal MI Leveraged Non-Insured

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    AMT:
    As of 3/31/2015
    7.50%
    Average Coupon:
    As of 7/7/2015
    4.86%
    Average Maturity:
    As of 3/31/2015
    19.26 yrs
    Number of Holdings:
    As of 4/30/2015
    67
    Annual Portfolio Turnover:
    As of 11/30/2014
    26.00%
    Pre-Refunded:
    As of 3/31/2015
    13.12%
    Average Bond Price:
    As of 3/31/2015
    $106.54
    Asset Allocation

    As of 3/31/2015 reported by Fund Sponsor

    Top Sectors

    As of 3/31/2015 reported by Fund Sponsor

    Sector%Portfolio
    Local GO 18.18%
    HealthCare:Acute 17.97%
    Insured Local GO 16.85%
    Water & Sewer 7.03%
    Public Power 5.80%
    Insured Water & Sewer 4.60%
    Education 4.46%
    Insured Lease 3.89%
    Escrowed 3.69%
    Special Tax 3.24%
    Call Exposure

    As of 3/31/2015 reported by Fund Sponsor

    Top Holdings

    As of 4/30/2015 reported by Fund Sponsor

    HoldingValue% Portfolio
    Kent Cnty Mich Ltd Tax G 5% 5.00 01 Jan 2025$1.69M3.50%
    Royal Oak Mich Hosp Fin Auth 5% 5.00 01 Sep 2039$1.37M2.84%
    Van Dyke Mich Pub Schs School Bu 5% 5.00 01 May 2038$1.36M2.83%
    South Haven Mich Pub Schs Sch Bldg 5% 5.00 01 May 2041$1.33M2.77%
    Michigan St Bldg Auth 15 Oct 2030$1.33M2.76%
    Michigan Fin Auth 5% 5.00 01 Jul 2044$1.29M2.68%
    Holland Mich Elec Rev Rev Bds 5% 5.00 01 Jul 2039$1.26M2.62%
    Battle Creek Mich Sch Dist 5% 5.00 01 May 2037$1.18M2.45%
    Lansing Mich Cmnty College Ltd Go Re 5% 5.00 01 May 2030$1.15M2.38%
    Kent Cnty Mich Rev Ref L 5% 5.00 01 Jan 2028$1.14M2.37%
    Michigan Fin Auth 5% 5.00 01 Dec 2027$1.14M2.37%
    Credit Quality

    As of 3/31/2015 reported by Fund Sponsor

    Maturity Breakdown

    As of 3/31/2015 reported by Fund Sponsor

    Country Allocation

    As of 3/31/2015 reported by Fund Sponsor

    Country% Portfolio
    USA 95.95%
    Puerto Rico 3.48%
    Guam 0.57%

    CEFConnect.com makes data for the universe of closed-end funds available as a courtesy to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

    NOTES:

    Distribution type sourced from Morningstar. CEFConnect.com does not undertake to disclose specific information about closed-end fund distribution sources. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    Taxable equivalent yield represents the yield you would need to earn on a taxable investment in order to equal the federal tax-free yield on a municipal investment. The yield shown is based on the current market yield and a federal tax rate of 35%. At the present time, no state tax rate is assumed for this calculation.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value.

    Data provided by MorningstarData Provided by Morningstar