Eaton Vance Enhanced Equity Income Fund (EOS) updates Financial Highlights table
Filing Impact
Filing Sentiment
Form Type
424B3
Rhea-AI Filing Summary
Eaton Vance Enhanced Equity Income Fund files a Supplement to Prospectus dated April 4, 2025 that replaces the fund's Financial Highlights. The table shows annual per-share net asset value, market value, total investment returns, net investment (loss), distributions, and ratios for years 2016–2025, with NAV of $24.45 at year-end 2025.
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Filed pursuant to Rule 424(b)(3)
File No. 333-286376
EATON VANCE ENHANCED EQUITY INCOME FUND II
Supplement to Prospectus dated April 4, 2025
The following replaces the Financial Highlights contained in the Prospectus:
Selected data for a Common Share outstanding during the periods stated.
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||
| Net asset value – Beginning of year | $ | 23.30 | $ | 19.71 | $ | 15.75 | $ | 23.72 | $ | 21.20 | ||||||||||
| Income (Loss) From Operations | ||||||||||||||||||||
| Net investment loss(1) | $ | (0.13 | ) | $ | (0.11 | ) | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.08 | ) | |||||
| Net realized and unrealized gain (loss) | 3.11 | 5.42 | 5.39 | (6.36 | ) | 3.97 | ||||||||||||||
| Total income (loss) from operations | $ | 2.98 | $ | 5.31 | $ | 5.34 | $ | (6.38 | ) | $ | 3.89 | |||||||||
| Less Distributions | ||||||||||||||||||||
| From net realized gain | $ | (1.83 | ) | $ | (1.23 | ) | $ | (1.27 | ) | $ | (1.06 | ) | $ | (1.29 | ) | |||||
| Tax return of capital | — | (0.49 | ) | (0.11 | ) | (0.54 | ) | (0.09 | ) | |||||||||||
| Total distributions | $ | (1.83 | ) | $ | (1.72 | ) | $ | (1.38 | ) | $ | (1.60 | ) | $ | (1.38 | ) | |||||
| Premium from common shares sold through shelf offering(1) | $ | 0.00 | (2) | $ | 0.00 | (2) | $ | 0.00 | (2) | $ | 0.01 | $ | 0.01 | |||||||
| Net asset value – End of year | $ | 24.45 | $ | 23.30 | $ | 19.71 | $ | 15.75 | $ | 23.72 | ||||||||||
| Market value – End of year | $ | 23.41 | $ | 23.95 | $ | 18.72 | $ | 16.55 | $ | 24.59 | ||||||||||
| Total Investment Return on Net Asset Value(3) | 13.58 | % | 28.10 | % | 35.54 | % | (27.40 | )% | 18.82 | % | ||||||||||
| Total Investment Return on Market Value(3) | 5.80 | % | 38.63 | % | 22.51 | % | (26.42 | )% | 20.40 | % | ||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||
| Net assets, end of year (000’s omitted) | $ | 1,303,613 | $ | 1,220,561 | $ | 1,031,206 | $ | 820,142 | $ | 1,212,024 | ||||||||||
| Ratios (as a percentage of average daily net assets):(4) | ||||||||||||||||||||
| Total expenses | 1.09 | % | 1.09 | % | 1.09 | % | 1.09 | % | 1.08 | % | ||||||||||
| Net expenses | 1.09 | %(5) | 1.09 | %(5) | 1.09 | %(5) | 1.09 | %(5) | 1.08 | % | ||||||||||
| Net investment loss | (0.57 | )% | (0.51 | )% | (0.27 | )% | (0.11 | )% | (0.36 | )% | ||||||||||
| Portfolio Turnover | 20 | % | 18 | % | 27 | % | 15 | % | 18 | % | ||||||||||
(See related footnotes.)
| Year Ended December 31, | ||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||
| Net asset value – Beginning of year | $ | 17.53 | $ | 14.82 | $ | 15.77 | $ | 13.66 | $ | 14.41 | ||||||||||
| Income (Loss) From Operations | ||||||||||||||||||||
| Net investment income (loss)(1) | $ | (0.06 | ) | $ | (0.03 | ) | $ | (0.03 | ) | $ | (0.02 | ) | $ | 0.03 | ||||||
| Net realized and unrealized gain | 4.82 | 4.02 | 0.13 | 3.18 | 0.28 | |||||||||||||||
| Total income from operations | $ | 4.76 | $ | 3.99 | $ | 0.10 | $ | 3.16 | $ | 0.30 | ||||||||||
| Less Distributions | ||||||||||||||||||||
| From net investment income | $ | — | $ | — | $ | — | $ | — | $ | (0.05 | ) | |||||||||
| From net realized gain | (0.04 | ) | (1.28 | )(6) | (1.05 | ) | (0.42 | ) | (0.13 | ) | ||||||||||
| Tax return of capital | (1.05 | ) | — | — | (0.63 | ) | (0.87 | ) | ||||||||||||
| Total distributions | $ | (1.09 | ) | $ | (1.28 | ) | $ | (1.05 | ) | $ | (1.05 | ) | $ | (1.05 | ) | |||||
| Premium from common shares sold through shelf offering(1) | $ | 0.00 | (2) | $ | 0.01 | $ | — | $ | — | $ | — | |||||||||
| Net asset value – End of year | $ | 21.20 | $ | 17.53 | $ | 14.82 | $ | 15.77 | $ | 13.66 | ||||||||||
| Market value – End of year | $ | 21.69 | $ | 17.83 | $ | 14.67 | $ | 15.22 | $ | 12.80 | ||||||||||
| Total Investment Return on Net Asset Value(3) | 28.55 | % | 27.71 | % | 0.21 | % | (24.04) | %(7) | 2.72 | % | ||||||||||
| Total Investment Return on Market Value(3) | 29.31 | % | 31.22 | % | 2.78 | % | (27.76 | )% | 1.68 | % | ||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||
| Net assets, end of year (000’s omitted) | $ | 1,055,567 | $ | 859,315 | $ | 707,577 | $ | 751,565 | $ | 651,080 | ||||||||||
| Ratios (as a percentage of average daily net assets): | ||||||||||||||||||||
| Expenses | 1.09 | % | 1.09 | % | 1.10 | % | 1.10 | % | 1.11 | % | ||||||||||
| Net investment income (loss) | (0.35 | )% | (0.16 | )% | (0.17 | )% | (0.15 | )% | 0.18 | % | ||||||||||
| Portfolio Turnover | 38 | % | 40 | % | 44 | % | 48 | % | 58 | % | ||||||||||
| (1) | Computed using average shares outstanding. |
| (2) | Amount is less than $0.005. |
| (3) | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan. |
| (4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
| (5) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the years ended December 31, 2025, 2024, 2023 and 2022). |
| (6) | The tax character of a portion of the distribution ($0.069 per share) was based on management’s estimate and was subsequently determined to be $0.063 per share of tax return of capital and $0.006 per share from net realized gain. |
| (7) | During the year ended December 31, 2017, the Fund received a payment from an affiliate as reimbursement for certain losses. Excluding this payment, total return at net asset value would have been 23.72%. |
March 19, 2026
FAQ
What information does the EOS prospectus supplement provide?
The supplement replaces the fund's Financial Highlights with a table of per-share metrics. It lists NAV, market value, total investment returns, distributions, expense ratios, and portfolio turnover for 2016–2025, including a year-end NAV of $24.45 for 2025.
What expense and net investment loss ratios are reported for 2025?
For the year ended 2025, the table shows total expenses of 1.09% and a net investment loss of (0.57)% expressed as a percentage of average daily net assets in the Ratios/Supplemental Data section.
What were the year-end net assets for the fund in 2025?
Net assets at year-end 2025 are listed as $1,303,613 (000's omitted). This appears under the Ratios/Supplemental Data section as the fund's ending net assets for that year.