Page 1 of 3 | Morningstar Factsheets | All data as at 11 Nov 2010 unless stated otherwise Eaton Vance Ohio Municipal Bond Fund EIO Morningstar Peer Group Classification Total Return Performance over 5 years (or since inception) State Municipal OH Leveraged Non-Insured Investment Objective The Fund seeks current income exempt from Federal and OH income taxes through investment in investment grade municipal securities Valuation 11 Nov 2010 12m High & Low Price $12.85 $14.50 / $12.23 NAV $12.39 $13.02 / $12.14 Discount +3.71% 12.14% / -2.16% Peer Group Discount -1.98% Z-Statistic1 -0.59 Inception Date 29 Nov 2002 Exchange NY Stock Exchange AMEX NAV Ticker XEIOX Total Assets $-m Net Assets $-18.061m Market Capitalization $32.433m Common Shares Outstanding 2,523,976 Preferred Shares Amount $17.000m Performance (Total Return%13) (Annualized) Total Leverage Ratio2 37% 1W 1 Mo 3 Mo 6 Mo YTD 1 Yr 3 Yr 5 Yr 1940 Act Leverage Ratio3 35% Price -4.39 -6.23 -1.90 -1.59 +9.81 +9.57 +5.14 +4.03 Non-1940 Act Leverage Ratio4 3% NAV -2.13 -3.92 -0.74 +2.11 +4.37 +8.02 +0.75 +2.00 Average Daily Shares Traded (1yr) 0.003m Peer Group (Price) -3.67 -4.38 -2.99 +2.30 +6.99 +12.50 +9.21 +4.65 Average Daily Value Traded (1yr) $0.044m Peer Group (NAV) -1.38 -2.13 +0.28 +3.16 +6.50 +8.98 +5.98 +4.86 Total Expense Ratio5 (2009) 1.57% Benchmark -0.69 -1.11 +0.22 +3.10 +6.04 +7.04 +5.96 +5.25 Income-only Rate (Price)6 6.01% Benchmark: Bank of America ML US Municipal Single State Inc & Cap Gains Rate (Price)7 6.01% Fund distributions reinvested on ex-dividend date8 Total Distribution Rate (Price)8 6.01%% Distribution Rates over 5 years (or since inception) Tax-Equivalent Rate (Price)9 9.24%% Latest Distribution Cover10 98.86 Latest UNII per share11 $0.0848 Distribution Policy The fund pays Monthly distributions under a level distribution policy Latest Distribution History12 Ex-Date Income S/T Cap L/T Cap Tot Cap Rtn Cap Total 19 Nov 2010 0.0643 0.0643 Distributions ($) over 5 years (or since inception) 20 Oct 2010 0.0643 0.0643 21 Sep 2010 0.0643 0.0643 20 Aug 2010 0.0643 0.0643 21 Jul 2010 0.0643 0.0643 21 Jun 2010 0.0643 0.0643 19 May 2010 0.0643 0.0643 21 Apr 2010 0.0643 0.0643 22 Mar 2010 0.0643 0.0643 17 Feb 2010 0.0643 0.0643 20 Jan 2010 0.0618 0.0618 22 Dec 2009 0.0618 0.0618 Distribution History by Calendar Year12 Asset Class (% Total Assets) as at 30 Jun 2010 Year Income S/T Cap L/T Cap Tot Cap Rtn Cap Total 2010 0.7052 0.7052 Bonds - Municipal 98.8% 0.7120 0.7120 2009 Debt - Short term 0.6% 0.6303 0.6303 2008 Cash 0.5% % Subject to AMT (30 Sep 2010) 14 0.00% % Insured (30 Sep 2010) 15 80.70% The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages. Page 2 of 3 | Morningstar Factsheets | All data as at 11 Nov 2010 unless stated otherwise Eaton Vance Ohio Municipal Bond Fund EIO Largest Holdings (% Portfolio) as at 30 Jun 2010 Sector Breakdown (% of total assets) Credit Quality (% of total assets) Ohio Mun Elec Generation Agy Ctfs Ben 4.4% Wapakoneta Ohio City Sch Dist 4.75% 4.3% Cleveland Ohio Arpt Sys Rev Rev Bds 5% 4.1% Hamilton Cnty Ohio Sales Tax Sales Tax 3.9% Cincinnati Ohio St Technical & Gen Rc 5% 3.6% Miami Univ Ohio Gen Rcpts Univ 3.25% 3.6% CU 5% 3.4% Hamilton Cnty Ohio Hosp Facs R Re 5.125% 3.2% Olentangy Loc Sch Dist 5% 3.1% Ohio Univ Gen Rcpts Athens Sub Rev 5.25% 2.6% Total 36.1% Risk & Correlation Risk & Return 3 Mo 6 Mo 1 Yr 3 Yr 5 Yr Alpha (NAV)19 0.01 0.00 -0.07 -0.91 -0.43 Beta (NAV)20 1.70 1.44 1.57 2.63 2.52 R-squared (NAV)21 0.66 0.54 0.77 0.61 0.60 Sharpe (NAV)22 3.59 2.85 0.48 0.06 0.06 Price Volatility23 16 16 17 35 28 NAV Volatility23 4 4 4 15 12 Benchmark Volatility23 2 2 2 4 3 Peer Group Price Volatility23 7 6 6 15 12 Peer Group NAV Volatility23 3 3 3 8 6 Benchmark: Bank of America ML US Municipal Single State Latest Earnings for 3m to 30 Sep 2010 Discrete Monthly NAV Total Return % EPS Pre-Prefs distributions, p/m $ EPS Post-Prefs distributions, p/m $0.0636 Last Distribution (Income), p/m $0.0643 Last Distribution (Inc & Cap Gns), p/m $0.0643 Last Distribution (Inc, Cap Gns & Rtn Cap), p/m $0.0643 Earnings Rate16 98.86 Distribution Cover10 98.86 UNII per Share (30 Sep 2010) $0.0848 Expected Life of UNII (months)17 115.7 Latest Capital Gains for 6m to 31 Mar 2010 $0.0038 Additional Performance (Cumulative, i.e. Non-Annualized) Total Return % 13 Realized Cap Gains per share p/m Unrealized Cap Gains per share p/m $-0.1088 Period Price NAV PG Price PG NAV FD B’mark Capital Reserves as at 31 Mar 2010 2010 +9.81 +4.37 +6.99 +6.50 +6.04 Accumulated Unrealized Capital Gains per share $0.1879 2009 +40.68 +47.33 +38.13 +26.14 +8.44 Accumulated Unrealized Cap Gains/Current NAV18 2% 2008 -25.04 -34.70 -12.41 -12.77 +1.83 2007 -6.76 -2.29 -5.48 +0.77 +4.24 Management Fees 2006 +11.26 +10.11 +0.76 +5.22 +4.29 Monthly Advisor fee calculated on average weekly gross assets at 2005 -10.00 +5.67 -3.03 +4.01 +2.68 annual rate of 0.55%. Partial waiver fee in place. Since Inception (29 Nov 2002) +33.39 +33.89 +50.70 +54.25 +48.66 Fund Manager Details Since S&P 500 Low (5 Mar 09) +45.49 +33.37 +39.50 +25.47 +12.20 Fund Manager: William H Ahern Since Sub-Prime Crisis (20 Nov 07) +21.36 +1.11 +32.88 +17.88 +18.22 Eaton Vance Management Since NASDAQ Recovery (30 Sep 02) - - +41.46 +48.70 +43.94 The Eaton Vance Building, 255 State Street, Boston, MA, USA, NASDAQ Bear (31 Aug 00–30 Sep 02) - - +23.53 +23.40 +22.25 02109 Since Sep 11 (11 Sep 01) - - +60.55 +64.72 +57.64 Telephone: +1 (800) 225 6265 Since Enron collapse (15 Oct 01) - - +59.39 +64.98 +57.50 Website: www.eatonvance.com Call Profile (%) as at 30 Jun 2010 2010 2011 2012 2013 2014 <5 Yr > 5 Yr 5-10 Yr >10 Yr N/C Initial Public Offering 6.00 7.00 10.00 10.00 2,250,000 Common shares at 15.00 USD on 29 Nov 2002 raising 33.8m gross and 32.2m net of expenses Maturity Breakdown (%) as at 30 Sep 2010 0-5 5+ 5-10 10+ Avg Weighted Avg Effective 100.00 100.00 21.38 11.23 Duration (years) as at 30 Sep 2010 Weighted Duration Effective Duration Modified Duration Not Adjusted Lev Adjusted Not Adjusted Lev Adjusted Not Adj Lev Adj 8.33 12.91 The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages. Notes 1 Z-Statistic 1y shows whether the fund’s current discount is 10 Distribution Cover is calculated by dividing the latest net earnings per share per month after significantly higher or lower than the average over the past year, distributions to Preferred Shareholders by the latest total distribution paid per month. A Distribution calculated as (Current Discount – Mean) / Std Dev Cover figure consistently less than 100 indicates that the fund’s distribution is at least in part funded 2 Total Leverage Ratio is a measure of how leveraged the fund is from capital gains/return of capital. by the use of all types of leverage instruments. It is calculated by 11 Latest UNII per share is the Undistributed Net Investment Income per share dividing the sum of the fund’s leverage (includes Preferred Shares, 12 Some or all of the distributions from income and short-term capital gains may be classed as Loans, Lines of Credit, Notes Payable/Commercial Paper, Tender qualified dividend income and subject to a reduced federal tax rate of 15%”. Option Bonds, Reverse Repurchase Agreements, Securities 13 Total Return Performance is calculated by reinvesting distributions at the actual closing share price Lending and Dollar Rolls) by the fund’s Total Assets. or NAV on the ex-dividend date as opposed to any dividend reinvestment plan (“DRIP”) price. DRIP 3 1940 Act Leverage Ratio is a measure of how leveraged the policies vary greatly between Funds whereas the Morningstar calculation is a pure and consistent fund is by the use of instruments classed as leverage under the calculation across all Funds. Therefore the Total Return performance data may vary slightly from the 1940 Investment Company Act. It is calculated by dividing the performance data reported by the Fund. All performance returns are calculated up to the close of sum of the fund’s leverage in the form of Preferred Shares, Loans, business on the previous day, with the exception of the calendar year performance figures in the Lines of Credit, Notes Payable & Commercial Paper, by the fund’s Additional Performance table on page 2 Total Assets minus non-1940 Act Leverage. 14 % Subject to AMT shows the percentage of the fund’s portfolio subject to the Alternative 4 Non-1940 Act Leverage Ratio is a measure of how leveraged Minimum Tax. the fund is by the use of instruments that are not classed as 15 % Insured shows the percentage of the fund’s portfolio insured against loss of principal and leverage under the 1940 Investment Company Act. It is calculated coupons. by dividing the sum of the fund’s leverage in the form of Tender Option Bonds, Reverse Repurchase Agreement, Securities Lending 16 Latest Earnings Rate is calculated by dividing the latest net earnings per share per month after & Dollar Rolls, by the fund’s Total Assets minus 1940 Act distributions to Preferred Shareholders by the latest distribution (income component only) paid per Leverage. month. An Earnings Rate of less than 100 indicates that the fund is under-earning its current 5 Total Expense Ratio is calculated by dividing the total expenses distribution from income. for the year, minus the cost of leverage (i.e. debt servicing and 17 Expected Life of UNII (months) is calculated when the Earnings Rate is less than 100%, dividing Preferred distributions), by the net assets attributable to the the UNII per share by the monthly shortfall of net investment income to the latest distribution (income common shares. component only) paid per month. The statistic is not calculated if UNII is negative. 6 Income-only Rate is calculated by annualizing the income 18 Accumulated Unrealized Capital Gains / NAV shows the accumulated capital gains since the fund’s component of the latest regular distribution. inception as a percentage of current NAV; it is effectively a measure of the store of value within a fund that could be paid out as capital gains were the investments on which gains have been made realized. 7 Inc & Cap Gains Rate is calculated by annualizing the income and capital gains components of the latest regular distribution. 19 Alpha: The difference between the fund’s average excess total return and the benchmark’s average excess total return. 8 Total Distribution Rate is calculated by annualizing the total latest distribution (income, capital gains and return of capital 20 Beta: The sensitivity of the fund to broad market movements. A Beta of 0.5 would imply the fund components). It is important to note that this Rate may include net will move by half as much as the index. investment income, capital gains and/or return of capital. 21 R-squared: A measure of correlation between the fund and index. A value of 0.8 means that 80% (All Rates are expressed as a percentage of latest Share Price and of the fund’s NAV changes can be explained by changes in the index. exclude “Special” distributions. The finalized composition –i.e. % 22 Sharpe: A risk-adjusted return measure, calculated by dividing the fund’s average monthly excess income, % capital gains, % return of capital - of distributions for total return over the risk-free rate by the standard deviation of those returns. The figure shown is the previous years is sourced from the official 10-99 reports. The annualized Sharpe Ratio. estimated composition of the distributions for the current calendar 23 Volatility: The annualized standard deviation of the logged daily returns, adjusting for distributions. year is sourced from section 19a-1 notices published by the funds; these estimates are subject to change at the year-end.) (Risk & Correlation: all statistics calculated on NAV using monthly values, except for volatility that uses 9 Tax–Equivalent Rate represents the Rate an investor in the daily values. highest federal tax bracket would require on a taxable fund to match the tax-exempt Rate paid by the fund. It is calculated by dividing the Income-only Rate (Price) by (1 minus the federal tax rate of 35%). The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages.
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