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A High-Yield Fund That's Strong on Several Fronts

Silver-rated Eaton Vance Income Fund of Boston uses a macro overlay to dampen portfolio volatility as part of its effective process.


Ken Oshodi: Due to its experienced team, sensible process, and competitive returns, Eaton Vance Income Fund of Boston is strong on several fronts.

Comanagers Mike Weilheimer and Stephen Concannon lead this effort. Weilheimer has run the fund with success since 1996, and Concannon joined him in late 2014. Like many high-yield teams, this group takes a bottom-up approach to managing its portfolios. It also utilizes a macro overlay to dampen portfolio volatility. It began doing so after a difficult 2008, which also led to a reduction in the fund's typical allocation to lower-quality CCC-rated debt, although the team will increase this stake when it feels that valuations warrant risk. 

Kenneth Oshodi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.