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EV MI Municipal Income:EMI

    Overview

    As of 9/20/2017

     Share
    Price
    NAVPremium/
    Discount
    Current$13.35$15.00-11.00%
    52 Wk Avg$13.28$14.90-10.82%
    52 Wk High$14.21$15.54-5.35%
    52 Wk Low$12.67$14.39-13.69%
    Regular Distribution TypeIncome Only
    Distribution Rate3.51%
    Distribution Amount$0.0391
    Distribution FrequencyMonthly
    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 9/20/2017

    Total Net Assets:$47.695M
    Total Common Assets:$30.291M
    Common Shares Outstanding:2,012,994
    Leverage

    As of 5/31/2017

    Preferred Share Assets: $17.000M
    Type of Preferred: Auction preferred stock
    Total Debt (USD):
    Structural Leverage (USD): $17.000M
    Structural Leverage (%): 36.47%
    Effective Leverage (USD): $17.000M
    Effective Leverage (%): 36.47%
    Annual Expense Ratios

    As of 11/30/2016

      Per Common Share
    Management Fees0.94%
    Other Expenses:1.05%
    Baseline Expense: 2.00%
    Interest Expense:0.82%
    Total: 2.82%

    Fund Management

    Fund Sponsor
    Eaton Vance

    Portfolio Managers
    Cynthia J. Clemson (31 Jul 2015)

    Basics
    Category: Tax-Free Income-Michigan
    Ticker: EMI
    NAV Ticker: XEMIX
    Average Daily Volume (shares):
    Average Daily Volume (USD): M
    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 9/20/2017

    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 5/31/2017
    $0.0412
    Annualized Distribution Rate on NAV:
    As of 9/20/2017
    3.13%
    Total Return on NAV (12 months):
    As of 9/20/2017
    0.12%
    Avg. UNII Per Share:
    As of 5/31/2017
    $0.0328
    Avg. Portfolio Coupon:
    As of 9/20/2017
    5.00%
    Total % Portfolio Effectively Leveraged:
    As of 9/20/2017
    36.47%
    Taxable Equivalent Yield

    Pricing Information

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

    As of 9/20/2017

    PeriodAvg Discount
    6 Month-10.59%
    1 Year-10.82%
    3 Year-11.77%
    5 Year-11.13%
    Z-Score

    As of 9/20/2017

    PeriodZStat
    3 Month-0.80
    6 Month-0.20
    1 Year-0.10
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 9/20/2017
    Category: State Municipal MI Leveraged Non-Insured

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD6.98%4.86%  
    20162.14%2.55%2.57%0.31%
    20159.24%5.38%7.12%5.60%
    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%
    2005-13.48%4.98%-2.55%4.19%
    200410.42%5.40%  
    200320.20%9.66%  
    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 9/20/2017
    Category: State Municipal MI Leveraged Non-Insured

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    AMT:
    As of 3/31/2017
    7.50%
    Average Coupon:
    As of 9/20/2017
    5.00%
    Number of Holdings:
    As of 7/31/2017
    65
    Annual Portfolio Turnover:
    As of 11/30/2016
    12.00%
    Average Bond Price:
    As of 3/31/2017
    $108.28
    Asset Allocation

    As of 3/31/2017 reported by Fund Sponsor

    Top Sectors

    As of 3/31/2017 reported by Fund Sponsor

    Sector%Portfolio
    General Obligations 26.50%
    Insured-General Obligatio15.60%
    Hospital 14.10%
    Insured-Escrowed/Prerefun7.60%
    Water and Sewer 7.10%
    Electric Utilities 5.80%
    Education 4.40%
    Insured-Water and Sewer 3.20%
    Escrowed/Prerefunded 2.40%
    Special Tax Revenue 2.40%
    Call Exposure

    As of 3/31/2017 reported by Fund Sponsor

    Top Holdings

    As of 7/31/2017 reported by Fund Sponsor

    HoldingValue% Portfolio
    Byron Center Mich Pub Schs Go Ultd T 5% 5.00 01 May 2043$1.73M3.63%
    Kent Cnty Mich Ltd Tax G 5% 5.00 01 Jan 2025$1.58M3.33%
    Royal Oak Mich Hosp Fin Auth 5% 5.00 01 Sep 2039$1.39M2.93%
    South Haven Mich Pub Schs Sch Bldg 5% 5.00 01 May 2041$1.35M2.83%
    Michigan Fin Auth 5% 5.00 01 Jul 2044$1.34M2.81%
    Van Dyke Mich Pub Schs School Bu 5% 5.00 01 May 2038$1.29M2.71%
    Holland Mich Elec Rev Rev Bds 5% 5.00 01 Jul 2039$1.28M2.69%
    Marysville Mich Pub Schs Dist 5% 5.00 01 May 2037$1.22M2.57%
    Lakeview Mich Sch Dist 5% 5.00 01 May 2040$1.20M2.51%
    Battle Creek Mich Go Ltd Ta 5% 5.00 01 Dec 2041$1.15M2.42%
    Lansing Mich Cmnty College Ltd Go Re 5% 5.00 01 May 2030$1.14M2.39%
    Credit Quality

    As of 3/31/2017 reported by Fund Sponsor

    Maturity Breakdown

    As of 3/31/2017 reported by Fund Sponsor

    Country Allocation

    As of 3/31/2017 reported by Fund Sponsor

    Country% Portfolio
    USA 95.62%
    Puerto Rico 3.79%
    Guam 0.58%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    TAXABLE EQUIVALENT YIELD
    1 Taxable equivalent yield is the yield or distribution rate needed from a taxable investment to be economically equal to receiving the stated tax-free yield from a municipal bond investment. Please note that the income levels shown in the calculator do not reflect (i) any federal or state limitations on the amounts of allowable itemized deductions, phaseouts of personal or dependent exemption credits or other allowable credits, (ii) any local taxes imposed, or (iii) any alternative minimum taxes or any taxes other than personal income taxes. The user is responsible for selecting the applicable federal and, as applicable, state tax rates. The stated federal tax rates for joint incomes over $250,000 include the 3.8% medicare tax imposed on the net investment income of certain taxpayers with higher incomes. This calculator is for illustrative purposes only and is not intended to represent actual performance, or to predict future performance, of any Nuveen Investments product. Certain taxpayers may find their effective marginal tax rates to be greater than those shown in the calculator. In that case, the taxable equivalent yield may be even higher.

    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. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    19987-INV-Y-10/17

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