Eaton Vance California Municipal Opportunities Fund
EACAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Boston, MA 02110 Boston MA United States of America 02110
- IPO Date
- May 27, 1994
- CIK
- 0000778365
- Website
- eatonvance.com
- Similar Companies
- Business
- Eaton Vance California Municipal Opportunities Fund (EACAX) is an open-end mutual fund that seeks to maximize after-tax total return through a flexible, opportunistic investment approach primarily in California municipal bonds and notes. The Fund invests across the municipal yield curve and credit spectrum, including investment-grade and high-yield obligations from sectors such as general obligations, transportation, water and sewer, education, hospitals, housing, electric utilities, and other revenue sources; it holds approximately 258 positions with an average effective maturity of 7.54 years, average duration of 5.58 years, and 14.65% of assets subject to the federal alternative minimum tax. Managed by Eaton Vance Management, a Boston-based firm and affiliate of Morgan Stanley Investment Management since its acquisition in March 2021, the Fund offers Class A shares with a net expense ratio of 0.75%, a front-end sales charge of 3.25%, and monthly distributions; total net assets stand at approximately $999 million as of recent data. Launched with Class A inception on May 27, 1994, and performance inception dating to December 19, 1985, the Fund previously operated as Eaton Vance California Municipal Income Fund prior to April 13, 2015, when it adopted its current opportunistic strategy under lead portfolio manager Craig R. Brandon, CFA (since 2014), and Trevor G. Smith (since 2021). The Fund targets California residents seeking tax-exempt income, with over 99% of its portfolio allocated to California issuers including top holdings like Metropolitan Water District of Southern California (4.37% coupon, maturing 2037), Kaiser Foundation Hospitals, Bay Area Toll Authority, and California Community Choice Financing Authority. Headquartered in Boston, Massachusetts, at Two International Place, the Fund operates within the Muni California Intermediate category and benchmarks against the Bloomberg Municipal Bond Index. Recent developments include sustained portfolio management stability and ongoing monthly distributions, with the SEC 30-day yield at 3.00% (taxable-equivalent 6.54% assuming top federal brackets); no major acquisitions, funding rounds, or strategic shifts specific to this Fund have been announced in the last 1-2 years, though Eaton Vance affiliates saw related closed-end fund liquidations approved in September 2025 for similarly named California municipal products. The investment team employs bottom-up credit research from an experienced municipals group to tactically adjust duration, yield curve positioning, credit quality, and sector allocations amid market inefficiencies.