Eaton Vance Risk-Managed Diversified Equity Income Fund: insider trades · United States · SEC (Form 4)

About Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) is a US-listed closed-end fund traded on the NYSE/NASDAQ market in the United States. For international investors, it should be viewed less as a conventional operating company and more as an actively managed income vehicle built to deliver current income and capital appreciation through a diversified portfolio of US equities, supplemented by a risk-managed option overlay. The fund’s structure is designed to appeal to investors seeking monthly cash flow, while also attempting to moderate volatility through portfolio construction and derivative-based income enhancement. It was launched on July 31, 2007, giving it a meaningful track record across multiple market regimes. ([professionals.eatonvance.com](https://professionals.eatonvance.com/risk-managed-diversified-equity-income-fund-etj.php?WSR=funds.eatonvance.com%2Frisk-managed-diversified-equity-income-fund-etj.php%3Fs_s%3Dff%26s_ff%3DRisk-Managed%2520Diversified%2520Equity%2520Income%2520Fund&s_ff=Risk-Managed+Diversified+Equity+Income+Fund&s_s=ff&utm_source=openai)) ETJ sits within Eaton Vance’s equity-income franchise, a platform now part of Morgan Stanley following the completion of the acquisition in 2021. Eaton Vance has long been associated with income-oriented investing, tax-aware strategies, and active portfolio management. That heritage is visible in ETJ’s mandate: the fund has adopted a policy of paying stable monthly distributions, and those distributions may consist of qualified dividends, non-qualified ordinary income, capital gains, and, at times, return of capital. For investors, this makes ETJ a yield-focused product with a more complex distribution profile than a plain-vanilla dividend fund. ([professionals.eatonvance.com](https://professionals.eatonvance.com/risk-managed-diversified-equity-income-fund-etj.php?WSR=funds.eatonvance.com%2Frisk-managed-diversified-equity-income-fund-etj.php%3Fs_s%3Dff%26s_ff%3DRisk-Managed%2520Diversified%2520Equity%2520Income%2520Fund&s_ff=Risk-Managed+Diversified+Equity+Income+Fund&s_s=ff&utm_source=openai)) The fund is managed by Eaton Vance’s Core/Growth team. Public fund materials show that Charles Gaffney and Douglas R. Rogers have managed the fund since 2023. The portfolio is heavily diversified and tilted toward large-cap US “quality growth” names rather than narrow sector bets. Recently disclosed top holdings include Apple, Microsoft, NVIDIA, Amazon, Alphabet, Meta Platforms, Broadcom, Visa, Eli Lilly, and AbbVie. This composition suggests a deliberate emphasis on large, liquid, globally competitive franchises, with a meaningful allocation to technology, healthcare, and consumer/platform businesses. ([professionals.eatonvance.com](https://professionals.eatonvance.com/risk-managed-diversified-equity-income-fund-etj.php?WSR=funds.eatonvance.com%2Frisk-managed-diversified-equity-income-fund-etj.php%3Fs_s%3Dff%26s_ff%3DRisk-Managed%2520Diversified%2520Equity%2520Income%2520Fund&s_ff=Risk-Managed+Diversified+Equity+Income+Fund&s_s=ff&utm_source=openai)) From a competitive standpoint, ETJ competes in the crowded US closed-end fund universe, particularly among equity-income and option-income strategies. Its differentiators are the closed-end fund structure, monthly distributions, and the risk-managed equity-income framework. As of February 28, 2025, the fund reported total net assets of about $652.1 million, with management fees of 1.00% and total expenses of 1.10% based on the annual report referenced by Eaton Vance. Those figures matter because fee load and leverage/option costs can materially affect distributable income and net asset value performance over time. ([professionals.eatonvance.com](https://professionals.eatonvance.com/risk-managed-diversified-equity-income-fund-etj.php?WSR=funds.eatonvance.com%2Frisk-managed-diversified-equity-income-fund-etj.php%3Fs_s%3Dff%26s_ff%3DRisk-Managed%2520Diversified%2520Equity%2520Income%2520Fund&s_ff=Risk-Managed+Diversified+Equity+Income+Fund&s_s=ff&utm_source=openai)) Recent fund materials also highlight updated distribution data as of July 25, 2025, showing a distribution rate of 8.01% at NAV and 8.69% at market price. Eaton Vance has also continued to publish SEC reporting for the fund, underscoring ongoing regulatory disclosure and portfolio transparency. In practical terms, ETJ is a US-listed, professionally managed equity-income fund aimed at investors who want exposure to leading American companies, monthly distributions, and an explicit risk-management overlay rather than a simple passive equity dividend product. ([professionals.eatonvance.com](https://professionals.eatonvance.com/risk-managed-diversified-equity-income-fund-etj.php?WSR=funds.eatonvance.com%2Frisk-managed-diversified-equity-income-fund-etj.php%3Fs_s%3Dff%26s_ff%3DRisk-Managed%2520Diversified%2520Equity%2520Income%2520Fund&s_ff=Risk-Managed+Diversified+Equity+Income+Fund&s_s=ff&utm_source=openai))