Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

By: Eaton Vance Closed-End Funds via Business Wire

May 31, 2022 at 15:55 PM EDT

The Eaton Vance closed-end funds listed below released today the estimated sources of their May distributions (each a “Fund”). This press release is issued as required by the Funds’ managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the May distribution. It is not determinative of the tax character of a Fund’s distributions for the 2022 calendar year. Shareholders should note that each Fund’s total regular distribution amount is subject to change as a result of market conditions or other factors.

IMPORTANT DISCLOSURE: You should not draw any conclusions about each Fund’s investment performance from the amount of this distribution or from the terms of each Fund’s Plan. Each Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in each Fund is paid back to you. A return of capital distribution does not necessarily reflect each Fund’s investment performance and should not be confused with “yield” or “income.” The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The following tables set forth estimates of the sources of each Fund’s May distribution and its cumulative distributions paid for its fiscal year through May 31, 2022, and information relating to each Fund’s performance based on its net asset value (NAV) for certain periods.

Eaton Vance Enhanced Equity Income Fund (NYSE: EOI)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1095
Distribution Frequency:	Monthly
Fiscal Year End:	September
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0093	8.50%	$0.0307	3.50%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.1002	91.50%	$0.8453	96.50%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.1095	100.00%	$0.8760	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 ¹			10.72%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 ²			7.94%
Cumulative total return at NAV for the fiscal year through April 30, 2022 ³			-5.16%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 ⁴			4.63%

Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1373
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0000	0.00%	$0.0000	0.00%
Net Realized Short-Term Capital Gains	$0.1373	100.00%	$0.2499	36.40%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.2945	42.90%
Return of Capital or Other Capital Source(s)	$0.0000	0.000%	$0.1421	20.70%
Total per common share	$0.1373	100.00%	$0.6865	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			11.60%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			9.00%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-20.70%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			3.00%

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.0760
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0031	4.10%	$0.0084	2.20%
Net Realized Short-Term Capital Gains	$0.0729	95.90%	$0.1075	28.30%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.2641	69.50%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.0760	100.00%	$0.3800	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			7.60%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			10.17%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-10.77%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			3.39%

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1626
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0475	29.20%	$0.3255	28.60%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.1151	70.80%	$0.8127	71.40%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.1626	100.00%	$1.1382	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			10.85%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			7.63%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-7.39%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			3.82%

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (NYSE: ETO)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1792
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0548	30.60%	$0.2822	22.50%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.6787	54.10%
Return of Capital or Other Capital Source(s)	$0.1244	69.40%	$0.2935	23.40%
Total per common share	$0.1792	100.00%	$1.2544	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			10.48%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			8.42%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-15.47%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			4.21%

Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1080
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0060	5.60%	$0.0205	3.80%
Net Realized Short-Term Capital Gains	$0.0620	57.40%	$0.2360	43.70%
Net Realized Long-Term Capital Gains	$0.0400	37.00%	$0.2835	52.50%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.1080	100.00%	$0.5400	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			7.10%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			8.89%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-8.84%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			2.96%

Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1108
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0039	3.50%	$0.0061	1.10%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.1069	96.50%	$0.1392	25.10%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.4087	73.80%
Total per common share	$0.1108	100.00%	$0.5540	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			8.44%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			9.72%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-12.60%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			3.24%

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.0929
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0057	6.10%	$0.0215	3.30%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0872	93.90%	$0.6288	96.70%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.0%
Total per common share	$0.0929	100.00%	$0.6503	100.0%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			9.92%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			9.04%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-10.54%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			4.52%

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE: ETW)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.0727
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0083	11.40%	$0.0313	8.60%
Net Realized Short-Term Capital Gains	$0.0552	76.00%	$0.1886	51.90%
Net Realized Long-Term Capital Gains	$0.0092	12.60%	$0.1436	39.50%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.0727	100.00%	$0.3635	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			5.62%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			9.36%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-12.21%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			3.12%

Eaton Vance Tax-Advantaged Global Dividend Income Fund (NYSE: ETG)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.1300
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0554	42.60%	$0.1989	21.80%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.4701	51.70%
Return of Capital or Other Capital Source(s)	$0.0746	57.40%	$0.2410	26.50%
Total per common share	$0.1300	100.00%	$0.9100	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			9.36%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			8.39%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-14.55%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			4.19%

Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.0689
Distribution Frequency:	Monthly
Fiscal Year End:	October
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0073	10.60%	$0.0198	4.10%
Net Realized Short-Term Capital Gains	$0.0286	41.50%	$0.1432	29.70%
Net Realized Long-Term Capital Gains	$0.0330	47.90%	$0.3193	66.20%
Return of Capital or Other Capital Source(s)	$0.0000	0.00%	$0.0000	0.00%
Total per common share	$0.0689	100.00%	$0.4823	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			8.58%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			9.32%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-10.66%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			4.66%

Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD)
Distribution Period:	May- 2022
Distribution Amount per Common Share:	$0.0708
Distribution Frequency:	Monthly
Fiscal Year End:	December
Source	Current Distribution	% of Current Distribution	Cumulative Distributions for the Fiscal Year-to-Date	% of the Cumulative Distributions for the Fiscal Year-to-Date
Net Investment Income	$0.0004	0.60%	$0.0004	0.10%
Net Realized Short-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Net Realized Long-Term Capital Gains	$0.0000	0.00%	$0.0000	0.00%
Return of Capital or Other Capital Source(s)	$0.0704	99.40%	$0.3536	99.90%
Total per common share	$0.0708	100.00%	$0.3540	100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1			4.63%
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2			8.22%
Cumulative total return at NAV for the fiscal year through April 30, 2022 3			-12.19%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4			2.74%

¹ Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on April 30, 2022
² The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund's NAV as of April 30, 2022
³ Cumulative total return at NAV is the percentage change in the Fund's NAV for the period from the beginning of its fiscal year to April 30, 2022 including distributions paid and assuming reinvestment of those distributions.
⁴ Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to April 30, 2022 measured on the dollar value of the distributions in year-to-date period as a percentage of the Fund's NAV as of April 30, 2022