Parametric Volatility Risk Premium Defense Fund Class I (EIVPX)

Fund Assets	1.46B
Expense Ratio	0.454%
Min. Investment	$50,000
Turnover	25.00%
Dividend (ttm)	0.35
Dividend Yield	1.94%
Dividend Growth	-1.53%
Payout Frequency	Annual
Ex-Dividend Date	Dec 18, 2025

Previous Close	18.28
YTD Return	9.50%
1-Year Return	13.32%
5-Year Return	59.68%
52-Week Low	16.39
52-Week High	18.39
Beta (5Y)	0.54
Holdings	194
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.

• Fund Family: Eaton Vance
• Category: Options Trading
• Performance Rating: High
• Risk Rating: Below Average
• Stock Exchange: Nasdaq
• Ticker Symbol: EIVPX
• Share Class: Class I
• Index: CBOE S&P 500 Buywrite (BXM)

Performance

EIVPX had a total return of 13.32% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.08%.

Top 10 Holdings

36.76% of assets

Name	Symbol	Weight
Morgan Stanley Inst Lqudty Gov Sec Ins	MUIXX	4.68%
United States Treasury Notes 2.625%	T.2.625 05.31.27	4.50%
United States Treasury Notes 2.375%	T.2.375 05.15.27	4.49%
United States Treasury Notes 3.75%	T.3.75 06.30.27	4.19%
NVIDIA Corporation	NVDA	3.86%
Apple Inc.	AAPL	3.63%
United States Treasury Notes 4.375%	T.4.375 08.15.26	3.62%
United States Treasury Notes 3.25%	T.3.25 06.30.27	2.78%
Microsoft Corporation	MSFT	2.73%
United States Treasury Notes 1.625%	T.1.625 10.31.26	2.29%

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

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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