Eaton Vance Tax-Managed Diversified Equity Income Fund supplements its prospectus to replace the Financial Highlights table for periods ending October 31, 2025 and prior years.
The table reports a Net asset value – End of year of $15.65 (Year Ended October 31, 2025), a Total Investment Return on Net Asset Value of 13.56% for the year ended October 31, 2025, and Net assets, end of year of $2,492,210 (as labeled in the table). It also lists expense and performance ratios, portfolio turnover, market value and historical annual data for prior years.
ETY, a registered investment company, submitted its Form N‑CEN annual census report, providing structural and operational details rather than performance results. The report lists directors, service providers such as investment advisers, transfer agents, pricing services, custodians, shareholder servicing agents and administrators, along with information on compliance, exemptions relied upon and brokerage practices.
The fund reports paying aggregate brokerage commissions of 511,286.89000000 during the period across multiple brokers, with individual brokers receiving amounts such as 85,563.05000000, 67,688.26000000 and 62,374.30000000. A principal dealer is shown with total purchases and sales of 980,510,204.73000000 (excluding maturing securities). Affiliated broker‑dealer records show total commissions of 0.00000000, indicating no commissions paid to affiliated broker‑dealers in the period.
Eaton Vance Tax-Managed Diversified Equity Income Fund reported a strong but benchmark-lagging year for the 12 months ended October 31, 2025. The Fund returned 13.56% at net asset value and 17.95% at market price, compared with 21.45% for the S&P 500® Index and 11.48% for the Cboe S&P 500 BuyWrite Index.
The portfolio benefited most from holdings such as Mr. Cooper Group and Lam Research, while positions in Booz Allen Hamilton and an underweight to Tesla hurt relative results. Its index call-writing strategy, designed to generate income and dampen volatility, also weighed on performance in a largely rising equity market.
The Fund paid steady monthly distributions of $0.0992 per share, totaling $1.19 for the period, implying a 7.61% distribution rate on NAV, primarily sourced from long‑term capital gains with a small return-of-capital component. Net assets were about $2.49 billion, the shares traded around a 1.15% premium to NAV at period end, and expenses were 1.06% of average net assets.