Eaton Vance Floating-Rate Income Trust: directors' dealings · United States · SEC (Form 4)

About Eaton Vance Floating-Rate Income Trust

Eaton Vance Floating-Rate Income Trust (ticker: EFT) is a U.S.-listed closed-end investment company traded on the NYSE in the United States. It is part of the Eaton Vance platform, now within Morgan Stanley Investment Management, and should be viewed as a specialized credit-income vehicle rather than an operating business. Its core mandate is to generate high current income by investing primarily in floating-rate senior loans and related debt instruments, which makes the trust particularly relevant for investors seeking floating-rate exposure in the U.S. credit market. ([www-aws.eatonvance.com](https://www-aws.eatonvance.com/Floating-Rate-Income-Trust-EFT.php?utm_source=openai)) The fund has a long operating history, with inception dating back to June 29, 2004. As a closed-end fund, its shares trade on the secondary market, so investor returns are driven not only by portfolio performance but also by the relationship between market price and net asset value. That structure can create discounts or premiums, which is a key analytical consideration for anyone evaluating EFT as a source of income. ([www-aws.eatonvance.com](https://www-aws.eatonvance.com/Floating-Rate-Income-Trust-EFT.php?utm_source=openai)) From an investment standpoint, EFT focuses on leveraged loans and other floating-rate credit exposures. These instruments are designed to benefit from higher short-term rates relative to fixed-rate bonds, but they also carry meaningful credit risk, liquidity risk, and price volatility. The fund may also use leverage, which can enhance distributable income but can magnify drawdowns when credit spreads widen or when loan markets weaken. Recent fund materials reported net assets of roughly $347 million and reiterated the objective of delivering high current income. ([www-aws.eatonvance.com](https://www-aws.eatonvance.com/Floating-Rate-Income-Trust-EFT.php?utm_source=openai)) EFT operates in a highly competitive segment alongside other closed-end funds, bank-loan funds, and private credit-oriented products offered by large asset managers. Its competitive strengths are Eaton Vance’s long-standing expertise in fixed income and credit, the firm’s active portfolio management process, and the broader resources of Morgan Stanley Investment Management. The trust’s portfolio has typically been concentrated in senior secured loans to corporate borrowers across sectors such as software, business services, telecom, and industrial-related issuers, reflecting the diversified nature of the leveraged-loan universe. ([www-aws.eatonvance.com](https://www-aws.eatonvance.com/Floating-Rate-Income-Trust-EFT.php?utm_source=openai)) Recent developments underscore the fund’s ongoing active management. The latest annual report for the 12 months ended May 31, 2025 showed NAV return of 5.96%, below the benchmark’s 6.81%, with leverage contributing to relative underperformance in a period when loan prices were generally softer and credit stress remained visible in select issuers. Eaton Vance’s 2025 materials also highlighted portfolio-manager changes and updated commentary on the loan market, reinforcing that EFT is a dynamically managed income product rather than a passive credit exposure. For international investors, the key takeaway is that EFT is a U.S.-market NYSE closed-end fund focused on floating-rate credit income, with attractive yield potential but a risk profile closely tied to the health of the leveraged-loan market. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001288992/000119312525166452/d83066dncsr.htm?utm_source=openai))