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Eaton Vance California MIT (CEV)



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Upturn Advisory Summary
09/17/2025: CEV (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit -2.98% | Avg. Invested days 39 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 68.16M USD | Price to earnings Ratio 12.58 | 1Y Target Price - |
Price to earnings Ratio 12.58 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.55 | 52 Weeks Range 9.21 - 10.70 | Updated Date 06/29/2025 |
52 Weeks Range 9.21 - 10.70 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 6.19% | Basic EPS (TTM) 0.77 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 112.18% | Operating Margin (TTM) 81.72% |
Management Effectiveness
Return on Assets (TTM) 2.23% | Return on Equity (TTM) 6.66% |
Valuation
Trailing PE 12.58 | Forward PE - | Enterprise Value 94467288 | Price to Sales(TTM) 13.96 |
Enterprise Value 94467288 | Price to Sales(TTM) 13.96 | ||
Enterprise Value to Revenue 15.98 | Enterprise Value to EBITDA - | Shares Outstanding 7033580 | Shares Floating - |
Shares Outstanding 7033580 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 27.11 |
Upturn AI SWOT
Eaton Vance California MIT
Company Overview
History and Background
Eaton Vance California Municipal Income Trust (EVM) is a closed-end fund managed by Eaton Vance Management. It focuses on providing current income exempt from federal and California state income taxes by investing in municipal securities. Founded as part of Eaton Vance's broader closed-end fund offerings, EVM seeks to provide attractive after-tax returns to California residents.
Core Business Areas
- Municipal Bond Investments: EVM primarily invests in California municipal bonds, aiming to generate tax-exempt income for its shareholders.
- Closed-End Fund Management: As a closed-end fund, EVM manages a fixed pool of assets, which can trade at a premium or discount to its net asset value (NAV).
Leadership and Structure
Eaton Vance Management serves as the investment advisor. The fund is overseen by a board of trustees responsible for protecting shareholder interests. Portfolio managers within Eaton Vance are responsible for the day-to-day investment decisions.
Top Products and Market Share
Key Offerings
- California Municipal Income Trust (EVM): EVM's primary offering is a portfolio of California municipal bonds designed to provide tax-exempt income to California residents. Market share data is challenging to precisely quantify as it fluctuates with fund size and performance relative to its peers. Key competitors are other California-focused municipal bond funds managed by firms like BlackRock, Nuveen, and Franklin Templeton.
Market Dynamics
Industry Overview
The municipal bond market is influenced by factors like interest rates, credit ratings of issuers, and tax policies. Demand for municipal bonds, particularly those offering state tax exemptions, tends to be high in high-tax states like California. The closed-end fund market adds another layer of dynamics, with fund prices also affected by investor sentiment and market conditions.
Positioning
EVM is positioned as a provider of tax-exempt income for California residents. Its competitive advantage lies in Eaton Vance's expertise in municipal bond management and its focus on the California market.
Total Addressable Market (TAM)
The total addressable market is the total value of outstanding California municipal bonds, which is in the hundreds of billions of dollars. EVM is positioned to capture a small segment of this TAM by offering a specialized investment vehicle.
Upturn SWOT Analysis
Strengths
- Tax-exempt income for California residents
- Experienced management team at Eaton Vance
- Focus on a specific geographic market
Weaknesses
- Vulnerability to interest rate changes
- Potential for trading at a discount to NAV
- Concentration in California municipal bonds
Opportunities
- Increasing demand for tax-exempt investments in California
- Potential for active management to generate alpha
- Expansion of fund offerings within the California municipal bond market
Threats
- Changes in tax laws
- Increased competition from other municipal bond funds
- Economic downturn impacting California's creditworthiness
Competitors and Market Share
Key Competitors
- Nuveen California Quality Municipal Fund (NAC)
- BlackRock CA Municipal Income Trust (BZM)
- Franklin California Tax-Free Trust (FTF)
Competitive Landscape
EVM competes with other California-focused municipal bond funds based on factors like performance, expense ratio, and distribution rate. Eaton Vance's experience and reputation in the municipal bond market can be a competitive advantage.
Growth Trajectory and Initiatives
Historical Growth: Growth is reflected in the fund's ability to maintain or increase its NAV and distribution rate.
Future Projections: Future growth is dependent on market conditions, interest rates, and the fund's ability to generate attractive returns.
Recent Initiatives: Recent initiatives may include adjusting the portfolio allocation to optimize risk-adjusted returns and maintain tax-exempt income.
Summary
Eaton Vance California MIT (EVM) is a closed-end fund focused on providing tax-exempt income to California residents. Its strength lies in its specialized focus and the experience of Eaton Vance. However, it faces risks from interest rate changes, potential NAV discounts, and competition. The fund's future performance hinges on its ability to navigate these challenges and continue generating attractive after-tax returns.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Eaton Vance Fund Fact Sheets
- SEC Filings
- Morningstar
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual circumstances and consultation with a financial advisor. Market share data is approximate.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Eaton Vance California MIT
Exchange NYSE MKT | Headquaters Boston, MA, United States | ||
IPO Launch date 1999-01-26 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - |
Eaton Vance California Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in debt securities issued by education, hospital, housing, insured-education, insured-electric utilities, insured-hospital, insured-transportation, insured-water and sewer, transportation, and other sectors. Eaton Vance California Municipal Income Trust was formed in 1999 and is domiciled in United States.

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