Parametric Volatility Risk Premium Defense Fund Class I (EIVPX)
| Fund Assets | 1.31B |
| Expense Ratio | 0.47% |
| Min. Investment | $50,000 |
| Turnover | 14.00% |
| Dividend (ttm) | 0.67 |
| Dividend Yield | 3.99% |
| Dividend Growth | 63.12% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 18, 2025 |
| Previous Close | 16.81 |
| YTD Return | 0.54% |
| 1-Year Return | 11.06% |
| 5-Year Return | 61.19% |
| 52-Week Low | 13.33 |
| 52-Week High | 16.98 |
| Beta (5Y) | 0.57 |
| Holdings | 186 |
| Inception Date | Feb 9, 2017 |
About EIVPX
Parametric Volatility Risk Premium - Defensive Fund Institutional Class is a U.S.-domiciled mutual fund designed to systematically capture the volatility risk premium through options strategies. Its primary objective is total return, achieved by investing in a balanced portfolio generally split between diversified equities and cash equivalents, primarily U.S. Treasury securities. The fund seeks to approximate the pre-tax total return of the S&P 500 Index while potentially reducing downside exposure. This is accomplished by writing (selling) call options on the S&P 500 Index against the fund’s equity holdings and put options against its cash equivalents, thereby generating income from option premiums. The fund’s disciplined, rules-based approach does not rely on market timing or leverage, and aims to benefit from the recurring tendency for implied volatility in options to exceed realized volatility in underlying securities. By harvesting this premium, the fund provides exposure to a return stream distinct from conventional equity or bond investments. It plays a specialized role in the market as a low beta, alternative strategy for institutional investors seeking diversification and lower volatility compared to traditional equity portfolios, while maintaining the potential for attractive risk-adjusted returns.
Performance
EIVPX had a total return of 11.06% in the past year, including dividends. Since the fund's inception, the average annual return has been 11.82%.
Top 10 Holdings
39.10% of assets| Name | Symbol | Weight |
|---|---|---|
| United States Treasury Bills 0% | B.0 06.11.26 | 8.60% |
| United States Treasury Bills 0% | B.0 07.09.26 | 6.17% |
| NVIDIA Corporation | NVDA | 3.72% |
| Apple Inc. | AAPL | 3.55% |
| Morgan Stanley Inst Lqudty Gov Sec Ins | MUIXX | 3.28% |
| Microsoft Corporation | MSFT | 3.11% |
| United States Treasury Notes 4.375% | T.4.375 07.31.26 | 2.79% |
| United States Treasury Bills 0% | B.0 02.19.26 | 2.77% |
| United States Treasury Notes 2.125% | T.2.125 05.31.26 | 2.65% |
| United States Treasury Notes 1.625% | T.1.625 10.31.26 | 2.47% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 18, 2025 | $0.6714 | Dec 19, 2025 |
| Dec 19, 2024 | $0.4116 | Dec 20, 2024 |
| Dec 21, 2023 | $0.6924 | Dec 22, 2023 |
| Dec 20, 2022 | $0.9718 | Dec 21, 2022 |
| Dec 14, 2021 | $0.1771 | Dec 15, 2021 |
| Dec 15, 2020 | $0.0834 | Dec 16, 2020 |