Eaton Vance Tax-Managed Global Diversified Equity Income Fund
EXG
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- Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG) is a closed-end equity mutual fund that seeks current income and gains, with secondary capital appreciation, through investments in a diversified global portfolio of dividend-paying common stocks across developed and emerging markets; writing call options on U.S. and foreign indices to generate premium income; and employing tax-management strategies including tax-loss harvesting and foreign currency hedging to minimize and defer federal income taxes for shareholders. The fund offers monthly distributions pursuant to a managed distribution plan, providing daily liquidity via NYSE listing, with total net assets of approximately $2.9 billion, a distribution rate of 8.43% at NAV and 9.01% at market price as of June 30, 2025, and exposure to sectors such as information technology (24.55%), financials (17.01%), and industrials (14.16%), with geographic allocation primarily in North America (56.53%) and Europe (33.78%). Launched on February 27, 2007, and managed by Eaton Vance Management—a division of Morgan Stanley Investment Management headquartered in Boston—the fund is led by Christopher M. Dyer, CFA, since 2015, with total annual expenses of 1.07%. In April 2024, the fund increased its monthly distribution to $0.0657 per share from the prior level, representing an 18.8% hike that elevated the annual payout to $0.7572 and supported a 14.1% rise from 2023 levels amid improved global equity performance. On October 10, 2024, its Board adopted Amendment No. 1 to the By-Laws, eliminating the Control Share Provisions and implementing certain related governance changes. The fund has delivered strong results in 2025, achieving an impressive +18% total return year-to-date as of October, alongside consistent monthly distributions sustained through June 2025 at $0.0657 per share.