If You Invested in Eaton Vance California Municipal Income Trust (CEV)
Looking for the current price? See the CEV quote & overviewWhat $1,000 or $10,000 in CEV Would Be Worth Now
Real historical value by amount invested and how long ago| If you invested | 1 year ago | 5 years ago | 10 years ago | Since Jul 29, 2015 |
|---|---|---|---|---|
| $1,000 | $1,079 +8% | $731 -27% | $1,009 +1% | $1,207 +21% |
| $10,000 | $10,787 +8% | $7,305 -27% | $10,092 +1% | $12,074 +21% |
Based on real historical closing prices, dividend- and split-adjusted, through 2026-07-27. Past performance does not guarantee future results.
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CEV vs S&P 500Year-by-Year Returns
CEV annual performance| Year | Start Price | End Price | Annual Return | Cumulative |
|---|---|---|---|---|
| 2017 | $8.90 | $9.13 | +2.6% | +2.6% |
| 2018 | $9.11 | $8.67 | -4.9% | -2.6% |
| 2019 | $8.81 | $11.01 | +25.1% | +23.8% |
| 2020 | $10.98 | $13.70 | +24.7% | +53.9% |
| 2021 | $13.70 | $13.54 | -1.2% | +52.1% |
| 2022 | $13.83 | $9.98 | -27.8% | +12.1% |
| 2023 | $9.99 | $10.34 | +3.5% | +16.2% |
| 2024 | $10.38 | $10.04 | -3.3% | +12.8% |
| 2025 | $10.14 | $10.04 | -1.0% | +12.8% |
| 2026 | $10.06 | $10.14 | +0.8% | +13.9% |
About Eaton Vance California Municipal Income Trust
Financial Services · NYSE
Eaton Vance California Municipal Income Trust (CEV) is a non-diversified closed-end investment company in the financial services sector, focused on asset management. According to its stated investment objective, the trust seeks to provide current income that is exempt from regular federal income tax and California state personal income taxes. To pursue this objective, it invests in municipal obligations issued by the State of California and its political subdivisions, agencies, authorities and instrumentalities, and it also has some exposure to corporate bonds.
The trust is organized under the laws of Massachusetts and is registered with the U.S. Securities and Exchange Commission under Commission File Number 811-09157. Its common shares of beneficial interest, with a par value of $0.01 per share, trade on the NYSE American exchange under the ticker symbol CEV. As a closed-end fund, the trust issues a fixed number of shares that are bought and sold on the exchange, and its portfolio is managed in line with its stated tax-exempt income objective.
Investment Focus and Strategy
The trust’s portfolio is centered on California municipal obligations, which are debt securities issued by California governmental entities. These securities are selected with the aim of generating income that is exempt from regular federal income tax and California state personal income taxes. In addition to municipal obligations, the trust has some exposure to corporate bonds, which can affect the overall risk and income characteristics of the portfolio.
Because the trust is described as non-diversified, it may invest a relatively larger portion of its assets in a smaller number of issuers or sectors than a diversified fund. This structure can increase exposure to specific issuers or segments of the municipal and corporate bond markets, which may influence the trust’s risk profile and performance characteristics.
Regulatory Status and Exchange Listing
Eaton Vance California Municipal Income Trust is subject to the reporting requirements of the Securities Exchange Act of 1934 and files periodic and current reports with the SEC. In its Form 8-K filings, the trust identifies Massachusetts as its jurisdiction of incorporation and confirms that its common shares are listed on the NYSE American LLC under the symbol CEV. These filings provide official confirmation of its regulatory status and exchange listing.
Governance and Board Oversight
The trust is overseen by a Board of Trustees. According to a Form 8-K filed on August 14, 2025, the then Chairperson of the Board of Trustees unexpectedly passed away on August 9, 2025, and an acting Chairperson was designated. The same filing notes that, effective August 12, 2025, the Board reduced its size from ten to nine members. A subsequent Form 8-K dated August 28, 2025 reports that, effective August 27, 2025, the Board appointed a new Chairperson of the Board for a four-year term, replacing the acting Chairperson.
These disclosures illustrate the trust’s practice of reporting material governance changes through current reports on Form 8-K, providing transparency regarding Board leadership and structure.
Role Within the Asset Management Sector
Within the broader asset management and financial services sector, Eaton Vance California Municipal Income Trust represents a specialized vehicle focused on tax-exempt income from California municipal securities, complemented by some corporate bond exposure. Its structure as a closed-end investment company and its focus on municipal obligations distinguish it from open-end mutual funds and other investment products that may have different liquidity, pricing, and tax characteristics.
Investors and analysts interested in tax-exempt income strategies, municipal bond exposure specific to California, or closed-end fund structures may review the trust’s SEC filings and exchange disclosures to understand its investment approach, governance, and regulatory profile.
Key Characteristics
- Structure: Non-diversified closed-end investment company.
- Sector: Financial services, with a focus on asset management.
- Primary Objective: Current income exempt from regular federal income tax and California state personal income taxes.
- Primary Investments: Municipal obligations issued by the State of California and its political subdivisions, agencies, authorities and instrumentalities, with some exposure to corporate bonds.
- Jurisdiction of Incorporation: Massachusetts.
- Exchange Listing: Common shares of beneficial interest listed on NYSE American under the symbol CEV.
FAQs about Eaton Vance California Municipal Income Trust (CEV)
What is Eaton Vance California Municipal Income Trust’s main investment objective?
The trust’s stated investment objective is to provide current income that is exempt from regular federal income tax and California state personal income taxes. It pursues this objective through investments in municipal obligations associated with the State of California and related issuers, along with some exposure to corporate bonds.
What types of securities does the trust invest in?
According to available information, the trust invests in municipal obligations issued by the State of California or its political subdivisions, agencies, authorities and instrumentalities, and it also has some exposure to corporate bonds.
How is Eaton Vance California Municipal Income Trust structured?
The trust is described as a non-diversified closed-end investment company. This means it has a fixed number of shares that trade on an exchange and may concentrate its investments in a smaller number of issuers or sectors than a diversified fund.
On which exchange do CEV shares trade?
The trust’s common shares of beneficial interest, with a par value of $0.01 per share, are listed on the NYSE American exchange under the ticker symbol CEV, as disclosed in its Form 8-K filings.
Where is the trust incorporated?
In its SEC filings, Eaton Vance California Municipal Income Trust identifies Massachusetts as its state or other jurisdiction of incorporation.
How does the trust communicate material events to investors?
Material events, such as changes in Board leadership or Board size, are reported through current reports on Form 8-K filed with the SEC. Recent examples include filings describing changes in the Chairperson of the Board and adjustments to the size of the Board of Trustees.
Is the income from the trust’s investments tax-exempt?
The trust’s investment objective is to provide current income exempt from regular federal income tax and California state personal income taxes. Whether income is tax-exempt for a specific investor can depend on individual tax circumstances and applicable tax laws.
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Frequently Asked Questions
Eaton Vance California Municipal Income Trust investment returns
How much would $1,000 invested in Eaton Vance California Municipal Income Trust be worth today?
If you invested $1,000 in Eaton Vance California Municipal Income Trust (CEV) 10 years ago on 2016-07-28, your investment would be worth $1,009 as of 2026-07-27, representing a +0.9% total return, growing at a compounded rate of 0.1% per year (CAGR).
Has Eaton Vance California Municipal Income Trust outperformed the S&P 500?
Over the past 10 years, CEV returned +0.9% compared to +291.0% for the S&P 500, underperforming the benchmark by 290.1 percentage points.
What is Eaton Vance California Municipal Income Trust's average annual return?
The compound annual growth rate (CAGR) of CEV over the past 10 years is 0.1%, growing at a compounded rate each year. Individual years vary significantly — CEV's best recent year was 2019 (+25.1%) and worst was 2022 (-27.8%).
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