Eaton Vance replaces Financial Highlights (2025 NAV $15.65)
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.
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Rhea-AI Filing Summary
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.
Insights
Updated financial table restates key NAV, return and ratio data through October 31, 2025.
The supplement replaces the Financial Highlights with year-by-year figures including Net asset value – End of year $15.65, Total Investment Return on NAV 13.56%, and Net assets, end of year $2,492,210 (table label).
Expense ratios are shown as 1.06% (total and net) for the year ended October 31, 2025, and portfolio turnover is 46%. Subsequent filings or disclosures would provide additional context if needed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What net assets figure does the supplement show for ETY at year end 2025?
What expense and net expense ratios are disclosed for ETY for the year ended October 31, 2025?
Does the supplement include market value and portfolio turnover for ETY in 2025?
AI-generated analysis. How Rhea-AI works. Not financial advice.
Filed pursuant to Rule 424(b)(3)
File No. 333-284944
EATON VANCE TAX-MANAGED DIVERSIFIED EQUITY INCOME FUND
Supplement to Prospectus dated February 14, 2025
The following replaces the Financial Highlights contained in the Prospectus:
Selected data for a Common Share outstanding during the periods stated.
| Year Ended October 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||
| Net asset value – Beginning of year | $ | 14.91 | $ | 11.66 | $ | 11.36 | $ | 14.36 | $ | 11.60 | ||||||||||
| Income (Loss) From Operations | ||||||||||||||||||||
| Net investment income (loss)(1) | $ | (0.04 | ) | $ | (0.02 | ) | $ | 0.06 | $ | 0.06 | $ | 0.05 | ||||||||
| Net realized and unrealized gain (loss) | 1.97 | 4.37 | 1.21 | (1.95 | ) | 3.74 | ||||||||||||||
| Total income (loss) from operations | $ | 1.93 | $ | 4.35 | $ | 1.27 | $ | (1.89 | ) | $ | 3.79 | |||||||||
| Less Distributions | ||||||||||||||||||||
| From net investment income | $ | — | $ | — | $ | (0.12 | ) | $ | (0.05 | ) | $ | (0.05 | ) | |||||||
| From net realized gain | (1.18 | ) | (1.10 | ) | (0.85 | ) | (0.97 | ) | (0.44 | ) | ||||||||||
| Tax return of capital | (0.01 | ) | — | — | (0.09 | ) | (0.54 | ) | ||||||||||||
| Total distributions | $ | (1.19 | ) | $ | (1.10 | ) | $ | (0.97 | ) | $ | (1.11 | ) | $ | (1.03 | ) | |||||
| Premium from common shares sold through shelf offering(1) | $ | 0.00 | (2) | $ | — | $ | — | $ | 0.00 | (2) | $ | 0.00 | (2) | |||||||
| Net asset value – End of year | $ | 15.65 | $ | 14.91 | $ | 11.66 | $ | 11.36 | $ | 14.36 | ||||||||||
| Market value – End of year | $ | 15.83 | $ | 14.52 | $ | 11.01 | $ | 12.00 | $ | 14.61 | ||||||||||
| Total Investment Return on Net Asset Value(3) | 13.56 | % | 38.59 | % | 11.53 | % | (13.55 | )% | 33.85 | % | ||||||||||
| Total Investment Return on Market Value(3) | 17.95 | % | 43.06 | % | (0.39 | )% | (10.24 | )% | 52.78 | % | ||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||
| Net assets, end of year (000’s omitted) | $ | 2,492,210 | $ | 2,345,918 | $ | 1,835,911 | $ | 1,784,540 | $ | 2,211,925 | ||||||||||
| Ratios (as a percentage of average daily net assets):(4) | ||||||||||||||||||||
| Total expenses | 1.06 | % | 1.06 | % | 1.07 | % | 1.07 | % | 1.07 | % | ||||||||||
| Net expenses | 1.06 | %(5) | 1.06 | %(5) | 1.07 | %(5) | 1.07 | %(5) | 1.07 | % | ||||||||||
| Net investment income (loss) | (0.28 | )% | (0.15 | )% | 0.48 | % | 0.45 | % | 0.40 | % | ||||||||||
| Portfolio Turnover | 46 | % | 39 | % | 63 | % | 55 | % | 36 | % | ||||||||||
(See related footnotes.)
| Year Ended October 31, | ||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||
| Net asset value – Beginning of year | $ | 11.87 | $ | 11.86 | $ | 11.96 | $ | 11.14 | $ | 12.01 | ||||||||||
| Income (Loss) From Operations | ||||||||||||||||||||
| Net investment income(1) | $ | 0.09 | $ | 0.10 | $ | 0.08 | $ | 0.10 | $ | 0.12 | ||||||||||
| Net realized and unrealized gain | 0.65 | 0.92 | 0.83 | 1.73 | 0.02 | |||||||||||||||
| Total income from operations | $ | 0.74 | $ | 1.02 | $ | 0.91 | $ | 1.83 | $ | 0.14 | ||||||||||
| Less Distributions | ||||||||||||||||||||
| From net investment income | $ | (0.09 | ) | $ | (0.10 | ) | $ | (0.08 | ) | $ | (0.09 | ) | $ | (0.09 | ) | |||||
| From net realized gain | — | (0.55 | ) | (0.49 | ) | (0.29 | ) | (0.07 | ) | |||||||||||
| Tax return of capital | (0.92 | ) | (0.36 | ) | (0.44 | ) | (0.63 | ) | (0.85 | ) | ||||||||||
| Total distributions | $ | (1.01 | ) | $ | (1.01 | ) | $ | (1.01 | ) | $ | (1.01 | ) | $ | (1.01 | ) | |||||
| Premium from common shares sold through shelf offering(1) | $ | 0.00 | (2) | $ | 0.00 | (6) | $ | — | $ | — | $ | — | ||||||||
| Net asset value – End of year | $ | 11.60 | $ | 11.87 | $ | 11.86 | $ | 11.96 | $ | 11.14 | ||||||||||
| Market value – End of year | $ | 10.34 | $ | 11.92 | $ | 11.46 | $ | 11.64 | $ | 10.29 | ||||||||||
| Total Investment Return on Net Asset Value(3) | 7.02 | % | 9.24 | % | 7.75 | % | 17.51 | % | 1.98 | % | ||||||||||
| Total Investment Return on Market Value(3) | (5.01 | )% | 13.53 | % | 6.98 | % | 23.81 | % | 0.04 | % | ||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||
| Net assets, end of year (000’s omitted) | $ | 1,759,628 | $ | 1,782,364 | $ | 1,775,555 | $ | 1,787,846 | $ | 1,665,148 | ||||||||||
| Ratios (as a percentage of average daily net assets): | ||||||||||||||||||||
| Expenses | 1.08 | % | 1.07 | % | 1.07 | % | 1.08 | % | 1.08 | % | ||||||||||
| Net investment income | 0.80 | % | 0.86 | % | 0.66 | % | 0.86 | % | 1.05 | % | ||||||||||
| Portfolio Turnover | 40 | % | 57 | % | 48 | % | 75 | % | 86 | % | ||||||||||
| (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 Morgan Stanley Institutional Liquidity Funds - Government Portfolio (equal to less than 0.005% of average daily net assets for the year ended October 31, 2025, 2024, 2023 and 2022). |
| (6) | Amount is less than $0.0005. |
March 11, 2026