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Eaton Vance Senior Floating Rate Closed Fund (EFR)
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Upturn Advisory Summary
12/24/2025: EFR (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 14.26% | Avg. Invested days 80 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 12/24/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 352.51M USD | Price to earnings Ratio 7.7 | 1Y Target Price 12.43 |
Price to earnings Ratio 7.7 | 1Y Target Price 12.43 | ||
Volume (30-day avg) - | Beta 0.4 | 52 Weeks Range 10.40 - 13.38 | Updated Date 06/29/2025 |
52 Weeks Range 10.40 - 13.38 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.94% | Basic EPS (TTM) 1.55 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 79.35% | Operating Margin (TTM) 79.66% |
Management Effectiveness
Return on Assets (TTM) 3.78% | Return on Equity (TTM) -0.22% |
Valuation
Trailing PE 7.7 | Forward PE - | Enterprise Value 549331008 | Price to Sales(TTM) 6.2 |
Enterprise Value 549331008 | Price to Sales(TTM) 6.2 | ||
Enterprise Value to Revenue 10.74 | Enterprise Value to EBITDA - | Shares Outstanding 29523600 | Shares Floating - |
Shares Outstanding 29523600 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 25.14 |
Upturn AI SWOT
Eaton Vance Senior Floating Rate Closed Fund
Company Overview
History and Background
The Eaton Vance Senior Floating Rate Closed Fund (EVF) was launched in 2004. It is a closed-end management investment company. Its primary objective is to seek current income with a secondary objective of capital appreciation. The fund invests primarily in senior floating-rate loans made to U.S. corporations and other entities. Significant milestones include its inception and ongoing management by Eaton Vance Investment Advisers, a subsidiary of Morgan Stanley. The fund's evolution has been shaped by market conditions affecting floating-rate debt.
Core Business Areas
- Senior Floating-Rate Loan Investment: The fund's core business is investing in a diversified portfolio of senior floating-rate loans. These loans are typically secured by collateral and have interest rates that reset periodically based on a benchmark rate (e.g., LIBOR, SOFR), offering protection against rising interest rates. The fund aims to generate income from the interest payments on these loans and potentially capital appreciation from changes in the loans' market value.
Leadership and Structure
Eaton Vance Senior Floating Rate Closed Fund is managed by Eaton Vance Investment Advisers, a subsidiary of Morgan Stanley Investment Management. The fund operates as a closed-end investment company, meaning it issues a fixed number of shares that trade on a stock exchange. Specific fund managers and portfolio managers are responsible for investment decisions, guided by the fund's investment objectives and strategies.
Top Products and Market Share
Key Offerings
- Senior Floating-Rate Loan Portfolio: The primary offering of Eaton Vance Senior Floating Rate Closed Fund is its diversified portfolio of senior floating-rate loans. This portfolio is actively managed to generate income and capital appreciation. Market share data for individual closed-end funds is not typically tracked in the same way as open-end mutual funds or ETFs. Competitors in this space include other closed-end funds focusing on floating-rate debt, as well as open-end mutual funds and ETFs that invest in similar asset classes. Key competitors may include funds managed by BlackRock, Invesco, and other large asset managers.
Market Dynamics
Industry Overview
The industry in which Eaton Vance Senior Floating Rate Closed Fund operates is the closed-end fund sector, specifically focusing on income-oriented fixed-income strategies, particularly senior floating-rate loans. This sector is influenced by macroeconomic factors such as interest rate environments, credit quality of borrowers, and overall market liquidity. The floating-rate loan market offers potential benefits in rising interest rate environments due to its adjustable interest rate feature.
Positioning
Eaton Vance Senior Floating Rate Closed Fund is positioned as an income-generating investment vehicle within the closed-end fund universe. Its focus on senior floating-rate loans provides diversification and a hedge against rising interest rates, appealing to investors seeking current income. Its competitive advantages lie in the expertise of its investment manager and its established track record in managing fixed-income portfolios. However, it faces competition from a wide range of fixed-income products.
Total Addressable Market (TAM)
The total addressable market for income-focused investment vehicles, including floating-rate loans, is substantial, encompassing trillions of dollars globally. This includes institutional investors, retail investors seeking income, and corporations managing their cash. Eaton Vance Senior Floating Rate Closed Fund, as a closed-end fund specializing in senior floating-rate loans, targets a specific segment of this broader market. Its positioning within this TAM depends on its ability to attract and retain investor capital through its performance, yield, and management strategy relative to other similar investment options.
Upturn SWOT Analysis
Strengths
- Focus on Senior Floating-Rate Loans: Provides potential protection against rising interest rates.
- Active Management by Experienced Firm: Eaton Vance (Morgan Stanley) has a strong reputation in fixed-income management.
- Diversified Portfolio: Reduces credit risk by investing in a range of corporate loans.
- Closed-End Structure: Potentially allows for active management to buy assets at a discount to NAV, though premiums can also occur.
Weaknesses
- Interest Rate Sensitivity: While designed to benefit from rising rates, prolonged periods of low rates can compress yields.
- Credit Risk: Despite being senior loans, there is still a risk of borrower default.
- Closed-End Structure Volatility: Share prices can trade at a premium or discount to Net Asset Value (NAV), introducing price volatility independent of the underlying assets.
- Limited Liquidity: Compared to open-end funds or ETFs, closed-end funds can sometimes have lower trading volumes.
Opportunities
- Rising Interest Rate Environment: If interest rates continue to rise, the fund's income generation potential could increase.
- Economic Growth: A robust economy generally leads to lower default rates for corporate borrowers.
- Investor Demand for Income: Continued demand for yield-oriented investments can drive demand for such funds.
- Potential for NAV Outperformance: Skilled management can potentially identify undervalued loans.
Threats
- Interest Rate Declines: Falling interest rates would reduce the fund's income.
- Economic Downturn/Recession: Increases the risk of corporate defaults and loan impairments.
- Increased Competition: Growth in other income-generating products (ETFs, other CEFs) can fragment the market.
- Regulatory Changes: Potential shifts in financial regulations could impact the floating-rate loan market.
Competitors and Market Share
Key Competitors
- Apollo Senior Floating Rate Fund (AFR)
- BlackRock Floating Rate Income Trust (BFL)
- Invesco Senior Income Trust (VVR)
Competitive Landscape
Eaton Vance Senior Floating Rate Closed Fund competes in a segment of the fixed-income market characterized by other closed-end funds, open-end funds, and ETFs that focus on floating-rate loans. Its advantages include its specialized focus and the management expertise of Eaton Vance. Disadvantages can include potential trading at a premium or discount to NAV and the general market risks associated with credit and interest rates, which affect all competitors.
Growth Trajectory and Initiatives
Historical Growth: The growth trajectory of a closed-end fund is primarily reflected in the change in its Net Asset Value (NAV) and the appreciation of its share price over time, alongside income distributions. Historical performance data would show periods of NAV growth driven by favorable credit markets and interest rate environments, and periods of NAV decline due to economic downturns or rising interest rate environments that affect bond prices.
Future Projections: Future projections for Eaton Vance Senior Floating Rate Closed Fund are speculative and heavily dependent on macroeconomic forecasts, particularly interest rate trajectories and credit market health. Analyst estimates typically focus on potential distribution rates and NAV growth based on these assumptions. The fund's structure and investment strategy in a potentially rising rate environment could be favorable.
Recent Initiatives: Recent initiatives for a closed-end fund typically involve adjustments to its investment strategy, potential changes in leverage, or efforts to manage its premium/discount to NAV. Specific initiatives would be detailed in shareholder reports or company announcements. These could include portfolio rebalancing or adapting to new benchmark rates like SOFR.
Summary
Eaton Vance Senior Floating Rate Closed Fund is a well-established closed-end fund focused on senior floating-rate loans, offering income potential and some protection against rising rates. Its strengths lie in its experienced management and diversified portfolio. However, it faces risks from credit defaults, interest rate fluctuations, and the inherent price volatility of closed-end funds. Continued focus on credit quality and effective interest rate management will be crucial for its future success.
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Sources and Disclaimers
Data Sources:
- Fund Prospectus and Annual Reports
- Financial Data Provider Websites (e.g., Morningstar, Bloomberg, Seeking Alpha)
- Morgan Stanley Investment Management (Eaton Vance) Official Website
Disclaimers:
This information is for general informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Investment decisions should be based on individual research, consultation with a financial advisor, and a thorough review of the fund's prospectus and risks. Market share data for closed-end funds is an estimation based on relative asset size and market presence within the segment.
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 Senior Floating Rate Closed Fund
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 2003-11-25 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Eaton Vance Senior Floating-Rate Trust is a closed-ended fixed income mutual fund launched and managed by Eaton Vance Management. The fund invests in the fixed income markets of the United States. It primarily invests in senior, secured floating rate loans. It benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index. Eaton Vance Senior Floating-Rate Trust was formed on November 28, 2003 and is domiciled in the United States.
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