Managed by Eaton Vance Management, this closed-end mutual fund focuses on diversified fixed-income opportunities. It primarily allocates capital within the U.S. fixed income market, constructing its portfolio with a focus on senior, secured floating-rate loans, foreign-currency denominated bank deposits, debt obligations from international governments and corporations, and mortgage-backed securities. The fund diversifies its fixed income holdings across numerous economic sectors. The underlying fixed income assets typically feature an average duration of 1.76 years and an average credit quality of at least BBB-. Performance is measured against the S&P/LSTA Leveraged Loan Index. Formed in the United States on February 28, 2005, the fund was formerly designated as the Eaton Vance Low Duration Diversified Income Fund.