Eaton Vance Intermediate Muncpl Inc ETF’s management team is rated Average, but a solid investment process still helps this strategy retain its Morningstar Medalist Rating of Bronze. The portfolio maintains a cost advantage over competitors, priced within the cheapest fee quintile among peers.  

 The strategy's sensible investment philosophy earns it a High Process Pillar rating. This management team has a wealth of experience, but still gets an Average People Pillar rating. The strategy's parent organization earns the firm an Average Parent Pillar rating, and this rating is inherited from vehicles belonging to the same branding entity and is indirectly assigned by an analyst.

Analyst Rating

Morningstar's style-agnostic investment process evaluation looks for strategies that should be able to outperform their Morningstar Category index on a risk-adjusted basis over time. Eaton Vance Intermediate Muncpl Inc ETF earns a High Process Pillar rating.    The leading factor in the rating is the parent firm's five-year risk-adjusted success ratio of 62%. The measure indicates the percentage of a firm's funds that survived and outperformed their respective category's median Morningstar Risk-Adjusted Return for the period. The parent firm's excellent risk-adjusted performance, as shown by its average 10-year Morningstar Rating of 3.4 stars, also influences the rating. The size of the portfolio management team supports the process as well. With four portfolio managers at the helm, the fund is reasonably well-resourced.

 Compared with other funds in the Muni National Interm Morningstar Category, this fund consistently took on similar credit risk over the past few years. Moreover, it displays no significant biases in terms of credit quality, bond sectors, or maturity when compared to its category peers in recent years.   

  The portfolio's average surveyed credit quality is on par with peers, with both the fund and the average being rated A.

High

Process

Eaton Vance Intermediate Muncpl Inc ETF earns an Average People Pillar rating. The number one contributor to the rating is its parent firm's excellent long-term risk-adjusted performance, as shown by the firm's average ten-year Morningstar Rating of 3.4 stars. The size of the portfolio management team also supports the rating. With four portfolio managers, the fund is reasonably well-resourced. 


None of the managers here invest any money in the strategy, which is disappointing, as such investments help align managers' interests with fundholders.

Average

People

Morgan Stanley Investment Management, the asset-management arm of Morgan Stanley MS, has made progress in integrating Eaton Vance's capabilities, but there remains more to be done. It retains its Average Parent rating.
Since acquiring Eaton Vance in March 2021, MSIM has been conservative in its approach to the merger. The firm kept Eaton Vance's legacy equity team a distinct platform from MSIM's own substantial capabilities, and it now offers several funds with potentially competing mandates. On the other hand, it moved relatively quickly to centralize the two legacy firms' fixed-income platforms, though several team leaders retired or departed the firm over 2021 and 2022. 
Although Counterpoint Global's concentrated growth strategies, historically among MSIM's largest offerings, have struggled through 2021 and 2022, some of Eaton Vance's boutiques, including value-equity shop Atlanta Capital, help create a more-diversified lineup. MSIM has leveraged Calvert's substantial experience in sustainable investing to launch a series of Calvert-branded strategies both in the United States and Europe, and Parametric allows MSIM to compete in the fast-growing area of customized separate accounts. The firm has yet to demonstrate, however, that it has leveraged its increased size and scale to streamline and improve its operations or to systematically lower fees for its investors.

Parent

Eaton Vance Intermediate Municipal Income ETF

EVIM is actively managed, investing in a portfolio of US municipal bonds exempt from regular federal income tax. The fund aims for an average portfolio duration between three and eight years.

Calvert US Large-Cap Core Responsible Index Etf

Eaton Vance Short Duration Municipal Income ETF

Eaton Vance Total Return Bond ETF

On Monday, Morgan Stanley Investment Management added two new ETFs to their extensive fund portfolio. The Eaton Vance Total Return Bond ETF (NYSE Arca: EVTR) and the Eaton Vance Short Duration Municipal Income ETF (NYSE Arca: EVSM) were both converted from existing mutual funds into the ETF wrapper.

Morgan Stanley Converts 2 Mutual Funds Into Active ETFs

Eaton Vance's municipal bond ETF may be well positioned as investors look to de-risk their portfolios to fit the current economic environment. With uncertainty dominating the macro outlook for the coming year, many investors are pumping the brakes on riskier assets.

Eaton Vance's Intermediate Municipal Bond ETF Could Help Limit Risks

Calvert US Large-Cap Diversity Equity And Inclusion Index ETF

Calvert International Responsible Index ETF

Calvert US Mid-Cap Core Responsible Index Etf

Calvert Ultra-Short Investment Grade Etf

Calvert US Select Equity Etf

Eaton Vance High Yield ETF

Eaton Vance Ultra-Short Income ETF

Parametric Equity Premium Income ETF

Parametric Hedged Equity ETF

Morgan Stanley Investment Management's lineup of ETFs has grown to over half a billion dollars in assets since their launch last year. The firm entered the ETF space one year ago with the launch of six Calvert ETFs.

Morgan Stanley Investment Management's Calvert ETFs Turn 1

The widely followed ICE AMT-Free US National Municipal Index posted a solid performance in 2023. This stokes hope that even better things could be in store for municipal bonds and the related ETFs in 2024.

Evaluate EVIM for 2024 Muni Bond Opportunities

Morgan Stanley Investment Management listed five new active ETFs on NYSE Arca. The ETFs span asset classes and include one Parametric alternative income strategy, one Parametric hedged equity strategy, and three Eaton Vance fixed income strategies.

News for Eaton Vance Intermediate Municipal Income ETF ETF (EVIM)