Edgar Filing: Eaton Vance Short Duration Diversified Income Fund

Eaton Vance Short Duration Diversified Income Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-21563

Eaton Vance Short Duration Diversified Income Fund

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number)

October 31

Date of Fiscal Year End

October 31, 2014

Date of Reporting Period

Item 1. Reports to Stockholders

LOGO

Eaton Vance

Short Duration Diversified Income Fund (EVG)

Annual Report

October 31, 2014

LOGO

Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain regulatory changes that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The Fund is considered to be a commodity pool operator under CFTC regulations. The Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor. The CFTC has neither reviewed nor approved the Fund’s investment strategies.

Managed Distribution Plan. Pursuant to an exemptive order issued by the Securities and Exchange Commission (Order), the Fund is authorized to distribute long-term capital gains to shareholders more frequently than once per year. Pursuant to the Order, the Fund’s Board of Trustees approved a Managed Distribution Plan (MDP) pursuant to which the Fund makes monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share.

The Fund currently distributes monthly cash distributions equal to $0.09 per share in accordance with the MDP. You should not draw any conclusions about the Fund’s investment performance from the amount of these distributions or from the terms of the MDP. The MDP will be subject to regular periodic review by the Fund’s Board of Trustees and the Board may amend or terminate the MDP at any time without prior notice to Fund shareholders. However, at this time there are no reasonably foreseeable circumstances that might cause the termination of the MDP.

The Fund may distribute more than its net investment income and net realized capital gains and, therefore, a distribution may include a return of capital. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” With each distribution, the Fund will issue a notice to shareholders and a press release containing information about the amount and sources of the distribution and other related information. The amounts and sources of distributions contained in the notice and press release are only estimates and are not provided for tax purposes. The amounts and sources of the Fund’s distributions for tax purposes will be reported to shareholders on Form 1099-DIV for each calendar year.

Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

Annual Report October 31, 2014

Eaton Vance

Short Duration Diversified Income Fund

Table of Contents



Management’s Discussion of Fund Performance			2

Performance			3

Fund Profile			3

Endnotes and Additional Disclosures			4

Consolidated Financial Statements			5

Report of Independent Registered Public Accounting Firm			46

Federal Tax Information			47

Dividend Reinvestment Plan			48

Management and Organization			50

Important Notices			52

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Management’s Discussion of Fund Performance¹

Economic and Market Conditions

Central bank activity was the major driver of the mortgage-backed securities (MBS) market over the 12-month period ended October 31, 2014. The Federal Reserve (the Fed) announced in December 2013 that it would taper its monthly bond purchases (a program known as quantitative easing). As the U.S. economy strengthened, the Fed ultimately ended its bond purchases in October 2014. While Fed members debated the timing of the first rate hike, markets began to price in the Fed’s likely move to reflect a likely tightening of monetary conditions in 2015.

Emerging markets were influenced during the 12-month period by election results and geopolitical news. Indonesia and Turkey elected new presidents, while Brazil re-elected President Rousseff, who is unpopular with investors. Additional headlines out of emerging markets caused asset price volatility. These included tensions over Russia’s annexation of the Crimean Peninsula and its ongoing involvement in parts of eastern and southern Ukraine, as well as continued instability in the Middle East.

The U.S. floating-rate loan market began the 12-month period ended October 31, 2014 on strong footing, as robust new issue supply was overcome by investor demand amid strong appetite for risk and a global search for yield. Amid an increasing number of negative headlines surrounding the asset class, retail investor demand began to wane, turning net negative after nearly two straight years of positive demand. Sluggish technical conditions followed, modestly weighing on loan prices in the final stretch of the period.

Fund Performance

For the fiscal year ended October 31, 2014, Eaton Vance Short Duration Diversified Income Fund (the Fund) had a total return of 4.10% at net asset value (NAV).

Investments in mortgage-backed securities (MBS) had a positive contribution to the Fund’s performance. The Fund maintained its focus on high-coupon seasoned agency MBS, due to the prepay protection of loans originated more than a decade ago. Despite the Fed winding down its agency MBS purchases during the year, mortgage spreads actually finished the year tighter than where they began, as net issuance came in below expectations and created a favorable supply-demand imbalance. The Fund benefited from its investments in more prepayment sensitive collateralized mortgage obligations

structures, which outperformed as mortgage refinancing activity slowed significantly during the period.

The Fund’s exposure to foreign currency instruments around the world also contributed to Fund performance during the 12-month period. Asia was the top contributing region, led by allocations to the Sri Lankan rupee, Bangladesh taka and the Indian rupee. Allocations to Eastern Europe, Latin America, Sub-Saharan Africa and Western Europe were relatively flat, while those across the Middle East and North Africa detracted. From within these regions, notable gains were driven by allocations to the Serbian dinar, Dominican peso, Kenyan shilling, Icelandic krona and Lebanese pound and were largely offset by losses on exposures to the Kazakhstani tenge, Chilean peso, Ghanaian cedi and Norwegian krone.

Investments in senior secured loans also aided Fund performance. Lower-quality loans outpaced their higher-quality counterparts during the 12-month period; loans rated BB, B, CCC and D (defaulted)⁷ returned 2.40%, 3.49%, 8.41% and 15.10%, respectively, for the period as measured by the S&P/LSTA Leveraged Loan Index⁸. As a result of management’s longstanding bias toward higher-quality credit tiers, the Fund underweighted segments rated CCC and D (defaulted) and overweighted loans rated BB. On the positive side, in terms of industry weightings, exposures to the air transport, lodging and casinos, health care and insurance sectors aided performance.

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested and includes management fees and other expenses. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance less than one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com.


		2

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Performance²

Portfolio Managers Scott H. Page, CFA, Payson F. Swaffield, CFA, Catherine C. McDermott, Andrew Szczurowski, CFA and Eric Stein, CFA


% Average Annual Total Returns	Inception Date		One Year			Five Years			Since Inception
Fund at NAV		02/28/2005		4.10	%		5.37	%		5.98	%
Fund at Market Price		—		2.05			5.41			4.63


% Premium/Discount to NAV³
										–11.67	%


Distributions⁴
Total Distributions per share for the period									$	1.080
Distribution Rate at NAV										6.57	%
Distribution Rate at Market Price										7.43	%


% Total Leverage⁵
Derivatives										24.32	%
Borrowings										22.31

Fund Profile

Asset Allocation (% of total leveraged assets)⁶

LOGO

See Endnotes and Additional Disclosures in this report.


		3

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Endnotes and Additional Disclosures

The views expressed in this report are those of the portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance and the Fund(s) disclaim any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as “forward looking statements”. The Fund’s actual future results may differ significantly from those stated in any forward looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund’s filings with the Securities and Exchange Commission.

²	Performance results reflect the effects of leverage. Absent an expense waiver by the investment adviser, if applicable, the returns would be lower.

³	The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to http://eatonvance.com/closedend.

⁴

The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance.com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.

⁵

The Fund employs leverage through derivatives and borrowings. Total leverage is shown as a percentage of the Fund’s aggregate net assets plus the absolute notional value of long and short derivatives and borrowings outstanding. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of borrowings rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time.

⁶

Total leveraged assets include all assets of the Fund (including those acquired with financial leverage) and derivatives held by the Fund. Asset Allocation as a percentage of the Fund’s net assets amounted to 187.4%. Please refer to the definition of total leveraged assets within the Notes to Consolidated Financial Statements included herein.

⁷

Ratings are based on Moody’s, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the higher rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody’s) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of the volatility of a security’s market value or of the liquidity of an investment in the security.

⁸

S&P/LSTA Leveraged Loan Index is an unmanaged index of the institutional leveraged loan market. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

Fund profile subject to change due to active management.


		4

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments


Senior Floating-Rate Interests — 54.8%⁽¹⁾


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Aerospace and Defense — 0.6%
Atlantic Aviation FBO Inc.
Term Loan, 3.25%, Maturing June 1, 2020		74	$	73,168
DAE Aviation Holdings, Inc.
Term Loan, 5.00%, Maturing November 2, 2018		135		134,868
Silver II US Holdings, LLC
Term Loan, 4.00%, Maturing December 13, 2019		377		369,666
Standard Aero Limited
Term Loan, 5.00%, Maturing November 2, 2018		61		61,140
Transdigm, Inc.
Term Loan, 3.75%, Maturing February 28, 2020		910		896,965
Term Loan, 3.75%, Maturing June 4, 2021		324		319,663

			$	1,855,470


Automotive — 2.4%
Affinia Group Intermediate Holdings Inc.
Term Loan, 4.75%, Maturing April 27, 2020		81	$	81,115
Allison Transmission, Inc.
Term Loan, 3.75%, Maturing August 23, 2019		618		614,086
Chrysler Group LLC
Term Loan, 3.50%, Maturing May 24, 2017		891		887,081
Term Loan, 3.25%, Maturing December 31, 2018		373		370,210
CS Intermediate Holdco 2 LLC
Term Loan, 4.00%, Maturing April 4, 2021		574		568,544
Dayco Products, LLC
Term Loan, 5.25%, Maturing December 12, 2019		174		174,234
Federal-Mogul Holdings Corporation
Term Loan, 4.75%, Maturing April 15, 2021		673		670,040
Goodyear Tire & Rubber Company (The)
Term Loan - Second Lien, 4.75%, Maturing April 30, 2019		1,150		1,154,312
INA Beteiligungsgesellschaft GmbH
Term Loan, Maturing May 15, 2020⁽²⁾		200		198,000
MPG Holdco I Inc.
Term Loan, 4.50%, Maturing October 20, 2021		525		524,508
TI Group Automotive Systems, LLC
Term Loan, 4.25%, Maturing July 2, 2021		648		643,512
Tower Automotive Holdings USA, LLC
Term Loan, 4.00%, Maturing April 23, 2020		645		638,264
Veyance Technologies, Inc.
Term Loan, 5.25%, Maturing September 8, 2017		528		526,309
Visteon Corporation
Term Loan, 3.50%, Maturing April 9, 2021		175		172,817

			$	7,223,032


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Beverage and Tobacco — 0.0%⁽³⁾
Flavors Holdings Inc.
Term Loan, 6.75%, Maturing April 3, 2020		150	$	145,125

			$	145,125


Brokerage / Securities Dealers / Investment Houses — 0.0%⁽³⁾
American Beacon Advisors, Inc.
Term Loan, 4.75%, Maturing November 22, 2019		72	$	71,395

			$	71,395


Building and Development — 0.6%
ABC Supply Co., Inc.
Term Loan, 3.50%, Maturing April 16, 2020		248	$	242,272
CPG International Inc.
Term Loan, 4.75%, Maturing September 30, 2020		99		98,505
Gates Global, Inc.
Term Loan, 4.25%, Maturing July 5, 2021		250		247,567
Ply Gem Industries, Inc.
Term Loan, 4.00%, Maturing February 1, 2021		499		492,357
Quikrete Holdings, Inc.
Term Loan, 4.00%, Maturing September 28, 2020		167		165,116
RE/MAX International, Inc.
Term Loan, 4.00%, Maturing July 31, 2020		370		364,486
WireCo WorldGroup, Inc.
Term Loan, 6.00%, Maturing February 15, 2017		97		97,406

			$	1,707,709


Business Equipment and Services — 4.7%
Acosta Holdco, Inc.
Term Loan, 5.00%, Maturing September 26, 2021		650	$	650,675
Altisource Solutions S.a.r.l.
Term Loan, 4.50%, Maturing December 9, 2020		321		288,916
AVSC Holding Corp.
Term Loan, 4.50%, Maturing January 24, 2021		75		74,283
Brickman Group Ltd. LLC
Term Loan, 4.00%, Maturing December 18, 2020		149		146,387
Ceridian LLC
Term Loan, 4.12%, Maturing May 9, 2017		596		596,377
Term Loan, 4.50%, Maturing September 15, 2020		622		617,541
ClientLogic Corporation
Term Loan, 7.48%, Maturing January 30, 2017		165		160,371
Corporate Capital Trust, Inc.
Term Loan, 4.00%, Maturing May 15, 2019		174		174,230
CPM Acquisition Corp.
Term Loan, 6.25%, Maturing August 29, 2017		94		94,180


		5		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Business Equipment and Services (continued)
Education Management LLC
Term Loan, 5.25%, Maturing June 1, 2016⁽¹⁹⁾			247	$	112,261
Term Loan, 9.25%, Maturing March 29, 2018⁽¹⁹⁾			374		170,093
EIG Investors Corp.
Term Loan, 5.00%, Maturing November 9, 2019			467		467,280
Emdeon Business Services, LLC
Term Loan, 3.75%, Maturing November 2, 2018			269		267,105
Expert Global Solutions, Inc.
Term Loan, 8.50%, Maturing April 3, 2018			115		115,288
Extreme Reach, Inc.
Term Loan, 6.75%, Maturing February 10, 2020			143		143,358
Garda World Security Corporation
Term Loan, 4.00%, Maturing November 6, 2020			61		59,338
Term Loan, 4.00%, Maturing November 6, 2020			237		231,958
Genpact International, Inc.
Term Loan, 3.50%, Maturing August 30, 2019			319		318,534
IG Investment Holdings, LLC
Term Loan, 5.25%, Maturing October 31, 2019			271		271,127
IMS Health Incorporated
Term Loan, 3.50%, Maturing March 17, 2021			997		985,649
Information Resources, Inc.
Term Loan, 4.75%, Maturing September 30, 2020			223		222,472
ION Trading Technologies S.a.r.l.
Term Loan, 4.50%, Maturing June 10, 2021	EUR		200		248,941
Term Loan - Second Lien, 7.25%, Maturing May 15, 2022			200		197,500
KAR Auction Services, Inc.
Term Loan, 3.50%, Maturing March 11, 2021			547		542,168
Kronos Incorporated
Term Loan, 4.50%, Maturing October 30, 2019			443		442,161
Term Loan - Second Lien, 9.75%, Maturing April 30, 2020			200		205,328
MCS AMS Sub-Holdings LLC
Term Loan, 7.00%, Maturing October 15, 2019			94		85,409
Monitronics International Inc.
Term Loan, 4.25%, Maturing March 23, 2018			220		219,844
PGX Holdings, Inc.
Term Loan, 6.25%, Maturing September 29, 2020			100		99,750
Quintiles Transnational Corporation
Term Loan, 3.75%, Maturing June 8, 2018			822		815,827
RCS Capital Corporation
Term Loan, 6.50%, Maturing April 29, 2019			173		171,408
Sensus USA Inc.
Term Loan, 4.50%, Maturing May 9, 2017			121		117,613
ServiceMaster Company
Term Loan, 4.25%, Maturing July 1, 2021			425		421,720


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Business Equipment and Services (continued)
SGS Cayman, L.P.
Term Loan, 6.00%, Maturing April 23, 2021			38	$	37,859
SunGard Data Systems, Inc.
Term Loan, 3.90%, Maturing February 28, 2017			32		32,339
Term Loan, 4.00%, Maturing March 8, 2020			1,482		1,477,244
Sutherland Global Services Inc.
Term Loan, 6.00%, Maturing April 23, 2021			162		162,641
TNS, Inc.
Term Loan, 5.00%, Maturing February 14, 2020			189		189,505
TransUnion, LLC
Term Loan, 4.00%, Maturing April 9, 2021			721		711,907
Travelport Finance (Luxembourg) S.a.r.l.
Term Loan, 6.00%, Maturing September 2, 2021			225		224,634
West Corporation
Term Loan, 3.25%, Maturing June 30, 2018			1,301		1,283,932
Zebra Technologies Corporation
Term Loan, 4.75%, Maturing September 30, 2021			425		428,719

				$	14,283,872


Cable and Satellite Television — 2.1%
Atlantic Broadband Finance, LLC
Term Loan, 3.25%, Maturing December 2, 2019			135	$	132,936
Cequel Communications, LLC
Term Loan, 3.50%, Maturing February 14, 2019			757		749,918
Charter Communications Operating, LLC
Term Loan, 3.00%, Maturing July 1, 2020			247		243,429
Term Loan, 3.00%, Maturing January 3, 2021			612		603,704
CSC Holdings, Inc.
Term Loan, 2.65%, Maturing April 17, 2020			366		358,506
ION Media Networks, Inc.
Term Loan, 5.00%, Maturing December 18, 2020			273		274,388
MCC Iowa LLC
Term Loan, 3.25%, Maturing January 29, 2021			173		169,500
Term Loan, 3.75%, Maturing June 30, 2021			150		147,310
Mediacom Illinois, LLC
Term Loan, 3.75%, Maturing June 30, 2021			75		74,141
Numericable U.S. LLC
Term Loan, 4.50%, Maturing May 21, 2020			174		174,548
Term Loan, 4.50%, Maturing May 21, 2020			201		201,758
UPC Financing Partnership
Term Loan, 3.76%, Maturing March 31, 2021	EUR		1,394		1,748,517
Virgin Media Bristol LLC
Term Loan, 3.50%, Maturing June 7, 2020			800		790,500
Virgin Media Investment Holdings Limited
Term Loan, 4.25%, Maturing June 30, 2023	GBP		300		477,248


		6		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Cable and Satellite Television (continued)
Ziggo B.V.
Term Loan, 3.00%, Maturing January 15, 2022⁽⁴⁾	EUR		5	$	6,493
Term Loan, 3.00%, Maturing January 15, 2022⁽⁴⁾	EUR		76		93,928
Term Loan, 3.00%, Maturing January 15, 2022⁽⁴⁾	EUR		107		132,884
Term Loan, 3.50%, Maturing January 15, 2022	EUR		6		6,925
Term Loan, 3.50%, Maturing January 15, 2022	EUR		60		74,233
Term Loan, 3.50%, Maturing January 15, 2022	EUR		96		118,383

				$	6,579,249


Chemicals and Plastics — 2.7%
Arysta LifeScience SPC, LLC
Term Loan, 4.50%, Maturing May 29, 2020			420	$	419,228
Axalta Coating Systems US Holdings Inc.
Term Loan, 3.75%, Maturing February 1, 2020			519		511,748
AZ Chem US Inc.
Term Loan, 4.50%, Maturing June 12, 2021			120		119,717
Colouroz Investment 1, GmbH
Term Loan, Maturing September 7, 2021⁽²⁾			25		24,329
Term Loan, Maturing September 7, 2021⁽²⁾			150		147,171
ECO Services Operations LLC
Term Loan, Maturing October 8, 2021⁽²⁾			75		74,859
Emerald Performance Materials, LLC
Term Loan, 4.50%, Maturing August 1, 2021			350		345,187
Term Loan - Second Lien, 7.75%, Maturing August 1, 2022			100		98,667
Gemini HDPE LLC
Term Loan, 4.75%, Maturing August 7, 2021			374		372,505
Huntsman International, LLC
Term Loan, 2.68%, Maturing April 19, 2017			1,501		1,486,651
Term Loan, 3.75%, Maturing August 12, 2021			375		371,949
Ineos US Finance LLC
Term Loan, 3.75%, Maturing May 4, 2018			1,320		1,302,746
Kronos Worldwide Inc.
Term Loan, 4.75%, Maturing February 18, 2020			50		49,750
MacDermid, Inc.
Term Loan, 4.00%, Maturing June 7, 2020			248		243,085
Minerals Technologies Inc.
Term Loan, 4.00%, Maturing May 9, 2021			342		340,639
Orion Engineered Carbons GmbH
Term Loan, 5.00%, Maturing July 25, 2021			100		100,375
Term Loan, 5.00%, Maturing July 25, 2021	EUR		200		252,040
OXEA Finance LLC
Term Loan, 4.25%, Maturing January 15, 2020			124		120,966
Polarpak Inc.
Term Loan, 4.50%, Maturing June 5, 2020			210		207,297


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Chemicals and Plastics (continued)
PQ Corporation
Term Loan, 4.00%, Maturing August 7, 2017			221	$	219,128
Solenis International, LP
Term Loan, 4.50%, Maturing July 2, 2021	EUR		175		220,261
Tata Chemicals North America Inc.
Term Loan, 3.75%, Maturing August 7, 2020			222		217,322
Tronox Pigments (Netherlands) B.V.
Term Loan, 4.00%, Maturing March 19, 2020			394		390,941
Univar Inc.
Term Loan, 5.00%, Maturing June 30, 2017			576		573,547
WNA Holdings Inc.
Term Loan, 4.50%, Maturing June 7, 2020			155		153,008

				$	8,363,116


Conglomerates — 0.4%
RGIS Services, LLC
Term Loan, 5.50%, Maturing October 18, 2017			737	$	701,839
Spectrum Brands Europe GmbH
Term Loan, 3.75%, Maturing September 4, 2019	EUR		174		218,155
Spectrum Brands, Inc.
Term Loan, 3.50%, Maturing September 4, 2019			198		196,886

				$	1,116,880


Containers and Glass Products — 1.3%
Berry Plastics Holding Corporation
Term Loan, 3.50%, Maturing February 8, 2020			419	$	410,645
Term Loan, 3.75%, Maturing January 6, 2021			875		862,126
Crown Americas, LLC
Term Loan, Maturing October 22, 2021⁽²⁾			300		301,438
Libbey Glass Inc.
Term Loan, 3.75%, Maturing April 9, 2021			50		49,345
Pelican Products, Inc.
Term Loan, 5.25%, Maturing April 10, 2020			436		433,868
Reynolds Group Holdings Inc.
Term Loan, 4.00%, Maturing December 1, 2018			1,534		1,527,879
TricorBraun, Inc.
Term Loan, 4.00%, Maturing May 3, 2018			404		399,982

				$	3,985,283


Cosmetics / Toiletries — 0.2%
Prestige Brands, Inc.
Term Loan, 4.50%, Maturing September 3, 2021			125	$	125,443
Revlon Consumer Products Corporation
Term Loan, 4.00%, Maturing October 8, 2019			223		220,986


		7		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Cosmetics / Toiletries (continued)
Sun Products Corporation (The)
Term Loan, 5.50%, Maturing March 23, 2020		416	$	373,962

			$	720,391


Drugs — 1.2%
Alkermes, Inc.
Term Loan, 3.50%, Maturing September 18, 2019		74	$	72,686
Auxilium Pharmaceuticals, Inc.
Term Loan, 6.25%, Maturing April 26, 2017		93		92,977
Endo Luxembourg Finance Company I S.a.r.l.
Term Loan, 3.25%, Maturing February 28, 2021		50		49,253
Ikaria, Inc.
Term Loan, 5.00%, Maturing February 12, 2021		141		141,529
Par Pharmaceutical Companies, Inc.
Term Loan, 4.00%, Maturing September 30, 2019		1,045		1,028,394
Valeant Pharmaceuticals International, Inc.
Term Loan, 3.50%, Maturing February 13, 2019		340		337,902
Term Loan, 3.50%, Maturing December 11, 2019		341		338,498
Term Loan, 3.50%, Maturing August 5, 2020		717		712,098
VWR Funding, Inc.
Term Loan, 3.40%, Maturing April 3, 2017		769		763,319

			$	3,536,656


Ecological Services and Equipment — 0.2%
ADS Waste Holdings, Inc.
Term Loan, 3.75%, Maturing October 9, 2019		393	$	385,042
EnergySolutions, LLC
Term Loan, 6.75%, Maturing May 29, 2020		150		150,872

			$	535,914


Electronics / Electrical — 4.7%
Allflex Holdings III, Inc.
Term Loan, 4.25%, Maturing July 17, 2020		124	$	121,430
Answers Corporation
Term Loan, 6.25%, Maturing September 23, 2021		225		218,250
Attachmate Corporation
Term Loan, 7.25%, Maturing November 22, 2017		489		489,172
Avago Technologies Cayman Ltd.
Term Loan, 3.75%, Maturing May 6, 2021		1,322		1,319,327
Blue Coat Systems, Inc.
Term Loan - Second Lien, 9.50%, Maturing June 28, 2020		125		125,313
Campaign Monitor Finance Pty Limited
Term Loan, 6.25%, Maturing March 18, 2021		124		123,131


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Electronics / Electrical (continued)
Carros Finance Luxembourg S.a.r.l.
Term Loan, 4.50%, Maturing September 30, 2021		500	$	500,416
CommScope, Inc.
Term Loan, 3.25%, Maturing January 26, 2018		198		197,876
CompuCom Systems, Inc.
Term Loan, 4.25%, Maturing May 11, 2020		143		136,397
Dell Inc.
Term Loan, 3.75%, Maturing October 29, 2018		132		130,775
Term Loan, 4.50%, Maturing April 29, 2020		1,807		1,812,153
Eagle Parent, Inc.
Term Loan, 4.00%, Maturing May 16, 2018		492		489,552
Entegris, Inc.
Term Loan, 3.50%, Maturing April 30, 2021		71		68,614
Excelitas Technologies Corp.
Term Loan, 6.00%, Maturing October 31, 2020		147		147,200
FIDJI Luxembourg (BC4) S.a.r.l.
Term Loan, 6.25%, Maturing December 24, 2020		146		146,981
Freescale Semiconductor, Inc.
Term Loan, 4.25%, Maturing February 28, 2020		368		363,481
Go Daddy Operating Company, LLC
Term Loan, 4.75%, Maturing May 13, 2021		1,159		1,156,059
GXS Group, Inc.
Term Loan, 3.25%, Maturing January 16, 2021		174		172,037
Infor (US), Inc.
Term Loan, 3.75%, Maturing June 3, 2020		924		911,270
M/A-COM Technology Solutions Holdings, Inc.
Term Loan, 4.50%, Maturing May 7, 2021		100		99,750
Magic Newco LLC
Term Loan, 5.00%, Maturing December 12, 2018		270		270,143
MH Sub I, LLC
Term Loan, 4.00%, Maturing July 8, 2021⁽⁴⁾		10		9,742
Term Loan, 5.00%, Maturing July 8, 2021		140		139,569
Microsemi Corporation
Term Loan, 3.25%, Maturing February 19, 2020		239		235,690
NXP B.V.
Term Loan, 3.25%, Maturing January 11, 2020		347		343,613
Orbotech, Inc.
Term Loan, 5.00%, Maturing August 6, 2020		75		74,063
Renaissance Learning, Inc.
Term Loan, 4.50%, Maturing April 9, 2021		124		122,509
Rocket Software, Inc.
Term Loan, 5.75%, Maturing February 8, 2018		288		287,321
RP Crown Parent, LLC
Term Loan, 6.00%, Maturing December 21, 2018		896		870,855


		8		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Electronics / Electrical (continued)
Sensata Technologies B.V.
Term Loan, 3.25%, Maturing May 12, 2019		236	$	235,488
SGMS Escrow Corp.
Term Loan, 6.00%, Maturing October 1, 2021		175		171,637
Shield Finance Co. S.a.r.l.
Term Loan, 5.00%, Maturing January 29, 2021		124		124,375
Sirius Computer Solutions, Inc.
Term Loan, 7.00%, Maturing November 30, 2018		94		95,048
SkillSoft Corporation
Term Loan, 5.75%, Maturing April 28, 2021		399		394,303
Smart Technologies ULC
Term Loan, 10.50%, Maturing January 31, 2018		116		115,047
Sophia, L.P.
Term Loan, 4.00%, Maturing July 19, 2018		222		220,567
SunEdison Semiconductor B.V.
Term Loan, 6.50%, Maturing May 22, 2019		150		147,755
SurveyMonkey.com, LLC
Term Loan, 5.50%, Maturing February 5, 2019		97		96,704
Sybil Software LLC
Term Loan, 4.75%, Maturing March 20, 2020		561		559,457
Vantiv, LLC
Term Loan, 3.75%, Maturing June 13, 2021		150		148,652
VeriFone Inc.
Term Loan, 3.50%, Maturing July 8, 2021		499		494,698
Wall Street Systems Delaware, Inc.
Term Loan, 4.50%, Maturing April 30, 2021		644		640,818

			$	14,527,238


Equipment Leasing — 0.3%
Delos Finance S.a.r.l.
Term Loan, 3.50%, Maturing March 6, 2021		425	$	423,459
Flying Fortress Inc.
Term Loan, 3.50%, Maturing June 30, 2017		500		499,063

			$	922,522


Financial Intermediaries — 2.3%
American Capital, Ltd.
Term Loan, 3.50%, Maturing August 22, 2017		130	$	128,963
Armor Holding II LLC
Term Loan, 5.75%, Maturing June 26, 2020		121		119,791
Citco Funding LLC
Term Loan, 4.25%, Maturing June 29, 2018		679		674,864
Clipper Acquisitions Corp.
Term Loan, 3.00%, Maturing February 6, 2020		98		95,860


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Financial Intermediaries (continued)
First Data Corporation
Term Loan, 3.65%, Maturing March 23, 2018			650	$	644,881
Term Loan, 3.65%, Maturing September 24, 2018			375		372,071
Grosvenor Capital Management Holdings, LLP
Term Loan, 3.75%, Maturing January 4, 2021			1,221		1,196,384
Guggenheim Partners, LLC
Term Loan, 4.25%, Maturing July 22, 2020			248		247,007
Harbourvest Partners, LLC
Term Loan, 3.25%, Maturing February 4, 2021			136		133,057
Home Loan Servicing Solutions, Ltd.
Term Loan, 4.50%, Maturing June 19, 2020			198		186,203
LPL Holdings, Inc.
Term Loan, 3.25%, Maturing March 29, 2019			1,586		1,567,261
Medley LLC
Term Loan, 6.50%, Maturing June 15, 2019			86		85,932
Ocwen Financial Corporation
Term Loan, 5.00%, Maturing February 15, 2018			745		719,841
Oz Management LP
Term Loan, 1.65%, Maturing November 15, 2016			219		210,410
Sesac Holdco II, LLC
Term Loan, 5.00%, Maturing February 8, 2019			297		295,855
Starwood Property Trust, Inc.
Term Loan, 3.50%, Maturing April 17, 2020			124		121,114
Walker & Dunlop, Inc.
Term Loan, 5.25%, Maturing December 11, 2020			124		123,442
Walter Investment Management Corp.
Term Loan, 4.75%, Maturing December 11, 2020			208		197,096

				$	7,120,032


Food Products — 2.5%
AdvancePierre Foods, Inc.
Term Loan, 5.75%, Maturing July 10, 2017			645	$	642,192
Big Heart Pet Brands
Term Loan, 3.50%, Maturing March 8, 2020			780		751,658
Blue Buffalo Company, Ltd.
Term Loan, 3.75%, Maturing August 8, 2019			245		243,651
Charger OpCo B.V.
Term Loan, 3.50%, Maturing June 30, 2021	EUR		125		155,580
Term Loan, 3.50%, Maturing July 23, 2021			375		370,313
Clearwater Seafoods Limited Partnership
Term Loan, 4.75%, Maturing June 24, 2019			173		172,956
CSM Bakery Solutions LLC
Term Loan, 5.00%, Maturing July 3, 2020			173		171,589
Del Monte Foods, Inc.
Term Loan, 4.25%, Maturing February 18, 2021			124		116,774


		9		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Food Products (continued)
Dole Food Company Inc.
Term Loan, 4.50%, Maturing November 1, 2018			98	$	97,713
H.J. Heinz Company
Term Loan, 3.50%, Maturing June 5, 2020			2,000		1,989,689
High Liner Foods Incorporated
Term Loan, 4.25%, Maturing April 24, 2021			149		147,571
JBS USA Holdings Inc.
Term Loan, 3.75%, Maturing May 25, 2018			866		855,532
Term Loan, 3.75%, Maturing September 18, 2020			297		294,305
NBTY, Inc.
Term Loan, 3.50%, Maturing October 1, 2017			888		870,778
Pinnacle Foods Finance LLC
Term Loan, 3.25%, Maturing April 29, 2020			124		121,584
Term Loan, 3.25%, Maturing April 29, 2020			605		594,861
Post Holdings Inc.
Term Loan, 3.75%, Maturing June 2, 2021			100		99,383

				$	7,696,129


Food Service — 1.3%
Aramark Services, Inc.
Term Loan, 3.66%, Maturing July 26, 2016			43	$	42,353
Term Loan, 3.66%, Maturing July 26, 2016			77		76,292
Buffets, Inc.
Term Loan, 0.11%, Maturing April 22, 2015⁽⁵⁾			26		20,662
Burger King Corporation
Term Loan, 3.75%, Maturing September 28, 2019			564		563,321
CEC Entertainment Concepts, L.P.
Term Loan, 4.25%, Maturing February 14, 2021			124		120,540
Darling International Inc.
Term Loan, 3.50%, Maturing January 6, 2021	EUR		174		217,768
Dunkin’ Brands, Inc.
Term Loan, 3.25%, Maturing February 7, 2021			526		516,579
Landry’s, Inc.
Term Loan, 4.00%, Maturing April 24, 2018			450		449,773
OSI Restaurant Partners, LLC
Term Loan, 3.50%, Maturing October 25, 2019			118		117,210
US Foods, Inc.
Term Loan, 4.50%, Maturing March 31, 2019			617		616,288
Weight Watchers International, Inc.
Term Loan, 4.00%, Maturing April 2, 2020			1,182		918,161
Wendy’s International, Inc.
Term Loan, 3.25%, Maturing May 15, 2019			253		252,280

				$	3,911,227


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Food / Drug Retailers — 1.4%
Albertson’s Holdings LLC
Term Loan, 4.00%, Maturing August 25, 2019		425	$	424,690
Term Loan, 4.50%, Maturing August 25, 2021		175		175,231
Albertson’s, LLC
Term Loan, 4.75%, Maturing March 21, 2019		223		222,850
General Nutrition Centers, Inc.
Term Loan, 3.25%, Maturing March 4, 2019		852		833,504
New Albertson’s, Inc.
Term Loan, 4.75%, Maturing June 27, 2021		1,175		1,163,250
Rite Aid Corporation
Term Loan, 3.50%, Maturing February 21, 2020		444		440,874
Term Loan - Second Lien, 5.75%, Maturing August 21, 2020		100		100,708
Supervalu Inc.
Term Loan, 4.50%, Maturing March 21, 2019		990		978,344

			$	4,339,451


Health Care — 6.0%
Akorn, Inc.
Term Loan, 4.50%, Maturing April 16, 2021		200	$	199,082
Alere, Inc.
Term Loan, 4.25%, Maturing June 30, 2017		753		751,428
Alliance Healthcare Services, Inc.
Term Loan, 4.25%, Maturing June 3, 2019		222		219,550
Amneal Pharmaceuticals LLC
Term Loan, 4.75%, Maturing November 1, 2019		99		98,907
Amsurg Corp.
Term Loan, 3.75%, Maturing July 16, 2021		100		99,116
Ardent Medical Services, Inc.
Term Loan, 6.75%, Maturing July 2, 2018		274		275,088
Biomet Inc.
Term Loan, 3.65%, Maturing July 25, 2017		1,143		1,141,201
CHG Healthcare Services Inc.
Term Loan, 4.25%, Maturing November 19, 2019		122		121,855
Community Health Systems, Inc.
Term Loan, 3.48%, Maturing January 25, 2017		371		370,472
Term Loan, 4.25%, Maturing January 27, 2021		1,436		1,438,663
Convatec Inc.
Term Loan, 4.00%, Maturing December 22, 2016		93		92,394
CPI Buyer, LLC
Term Loan, 5.50%, Maturing August 18, 2021		200		198,000
DaVita HealthCare Partners, Inc.
Term Loan, 3.50%, Maturing June 24, 2021		549		544,167
DJO Finance LLC
Term Loan, 4.25%, Maturing September 15, 2017		332		330,874


		10		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Health Care (continued)
Envision Healthcare Corporation
Term Loan, 4.00%, Maturing May 25, 2018		400	$	397,460
Gentiva Health Services, Inc.
Term Loan, 6.50%, Maturing October 18, 2019		647		649,142
Grifols Worldwide Operations USA, Inc.
Term Loan, 3.15%, Maturing February 27, 2021		821		811,267
HCA, Inc.
Term Loan, 2.98%, Maturing May 1, 2018		780		776,787
Hologic Inc.
Term Loan, 3.25%, Maturing August 1, 2019		297		295,372
Iasis Healthcare LLC
Term Loan, 4.50%, Maturing May 3, 2018		314		314,019
inVentiv Health, Inc.
Term Loan, 7.75%, Maturing May 15, 2018		533		529,595
JLL/Delta Dutch Newco B.V.
Term Loan, 4.25%, Maturing March 11, 2021		399		388,740
Kindred Healthcare, Inc.
Term Loan, 4.00%, Maturing April 9, 2021		249		247,193
Kinetic Concepts, Inc.
Term Loan, 4.00%, Maturing May 4, 2018		926		920,642
LHP Hospital Group, Inc.
Term Loan, 9.00%, Maturing July 3, 2018		255		245,128
Mallinckrodt International Finance S.A.
Term Loan, 3.50%, Maturing March 19, 2021		225		223,232
Term Loan, 3.50%, Maturing March 19, 2021		274		271,451
MedAssets, Inc.
Term Loan, 4.00%, Maturing December 13, 2019		75		74,450
Millennium Laboratories, Inc.
Term Loan, 5.25%, Maturing April 16, 2021		873		874,449
MMM Holdings, Inc.
Term Loan, 9.75%, Maturing December 12, 2017		118		116,895
MSO of Puerto Rico, Inc.
Term Loan, 9.75%, Maturing December 12, 2017		86		84,771
National Mentor Holdings, Inc.
Term Loan, 4.75%, Maturing January 31, 2021		100		98,878
Onex Carestream Finance LP
Term Loan, 5.00%, Maturing June 7, 2019		477		478,597
Opal Acquisition, Inc.
Term Loan, 5.00%, Maturing November 27, 2020		298		297,471
Ortho-Clinical Diagnostics, Inc.
Term Loan, 4.75%, Maturing June 30, 2021		549		542,968
Pharmaceutical Product Development LLC
Term Loan, 4.00%, Maturing December 5, 2018		1,341		1,333,456
PRA Holdings, Inc.
Term Loan, 4.50%, Maturing September 23, 2020		622		615,525


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Health Care (continued)
Radnet Management, Inc.
Term Loan, 4.28%, Maturing October 10, 2018		313	$	310,088
RegionalCare Hospital Partners, Inc.
Term Loan, 6.00%, Maturing April 19, 2019		374		374,764
Salix Pharmaceuticals, Ltd.
Term Loan, 4.25%, Maturing January 2, 2020		120		120,409
Select Medical Corporation
Term Loan, 3.75%, Maturing June 1, 2018		225		223,312
Steward Health Care System LLC
Term Loan, 6.75%, Maturing April 12, 2020		399		396,247
TriZetto Corporation
Term Loan, 4.75%, Maturing May 2, 2018		282		282,204
Truven Health Analytics Inc.
Term Loan, 4.50%, Maturing June 6, 2019		319		311,752

			$	18,487,061


Home Furnishings — 0.2%
Serta Simmons Holdings, LLC
Term Loan, 4.25%, Maturing October 1, 2019		303	$	300,398
Tempur-Pedic International Inc.
Term Loan, 3.50%, Maturing March 18, 2020		239		236,113

			$	536,511


Industrial Equipment — 1.6%
Apex Tool Group, LLC
Term Loan, 4.50%, Maturing January 31, 2020		546	$	518,443
Delachaux S.A.
Term Loan, Maturing September 25, 2021⁽²⁾		100		100,375
Doosan Infracore International, Inc.
Term Loan, 4.50%, Maturing May 28, 2021		200		199,916
Gardner Denver, Inc.
Term Loan, 4.25%, Maturing July 30, 2020		347		341,832
Generac Power Systems, Inc.
Term Loan, 3.25%, Maturing May 31, 2020		306		299,464
Husky Injection Molding Systems Ltd.
Term Loan, 4.25%, Maturing June 30, 2021		473		465,874
Term Loan - Second Lien, 7.25%, Maturing June 30, 2022		125		122,500
Milacron LLC
Term Loan, 4.00%, Maturing March 30, 2020		573		558,310
NN, Inc.
Term Loan, 6.00%, Maturing August 27, 2021		125		124,610
Paladin Brands Holding, Inc.
Term Loan, 6.75%, Maturing August 16, 2019		95		95,038


		11		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value


Industrial Equipment (continued)
Rexnord LLC
Term Loan, 4.00%, Maturing August 21, 2020			842	$	830,455
Signode Industrial Group US Inc.
Term Loan, 4.00%, Maturing May 1, 2021			215		211,324
Spansion LLC
Term Loan, 3.75%, Maturing December 19, 2019			196		193,366
STS Operating, Inc.
Term Loan, 4.75%, Maturing February 21, 2021			349		348,616
Tank Holding Corp.
Term Loan, 4.25%, Maturing July 9, 2019			158		155,700
Terex Corporation
Term Loan, 4.00%, Maturing July 31, 2021	EUR		300		377,238
Virtuoso US LLC
Term Loan, 4.75%, Maturing February 11, 2021			75		74,042

				$	5,017,103


Insurance — 1.5%
Alliant Holdings I, Inc.
Term Loan, 4.25%, Maturing December 20, 2019			389	$	383,367
AmWINS Group, LLC
Term Loan, 5.00%, Maturing September 6, 2019			910		909,751
Applied Systems, Inc.
Term Loan, 4.25%, Maturing January 25, 2021			149		147,572
Asurion LLC
Term Loan, 5.00%, Maturing May 24, 2019			1,642		1,644,534
Term Loan, 4.25%, Maturing July 8, 2020			173		170,625
Term Loan - Second Lien, 8.50%, Maturing March 3, 2021			175		178,227
CGSC of Delaware Holding Corporation
Term Loan, 5.00%, Maturing April 16, 2020			49		44,684
Cunningham Lindsey U.S. Inc.
Term Loan, 5.00%, Maturing December 10, 2019			172		168,620
Hub International Limited
Term Loan, 4.25%, Maturing October 2, 2020			520		513,136
USI, Inc.
Term Loan, 4.25%, Maturing December 27, 2019			467		462,670

				$	4,623,186


Leisure Goods / Activities / Movies — 2.6%
Activision Blizzard, Inc.
Term Loan, 3.25%, Maturing October 12, 2020			530	$	529,853
AMC Entertainment, Inc.
Term Loan, 3.50%, Maturing April 30, 2020			443		437,488
Bally Technologies, Inc.
Term Loan, 4.25%, Maturing November 25, 2020			186		185,979


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Leisure Goods / Activities / Movies (continued)
Bombardier Recreational Products, Inc.
Term Loan, 4.00%, Maturing January 30, 2019		641	$	631,205
ClubCorp Club Operations, Inc.
Term Loan, 4.50%, Maturing July 24, 2020		548		544,192
Emerald Expositions Holding, Inc.
Term Loan, 4.75%, Maturing June 17, 2020		190		189,818
Equinox Holdings, Inc.
Term Loan, 4.25%, Maturing January 31, 2020		346		342,970
Fender Musical Instruments Corporation
Term Loan, 5.75%, Maturing April 3, 2019		89		88,084
Kasima, LLC
Term Loan, 3.25%, Maturing May 17, 2021		170		168,260
Live Nation Entertainment, Inc.
Term Loan, 3.50%, Maturing August 17, 2020		503		496,896
Nord Anglia Education Finance LLC
Term Loan, 4.50%, Maturing March 31, 2021		399		395,509
Regal Cinemas, Inc.
Term Loan, 2.68%, Maturing August 23, 2017		1,179		1,159,377
Sabre, Inc.
Term Loan, 4.00%, Maturing February 19, 2019		221		218,106
SeaWorld Parks & Entertainment, Inc.
Term Loan, 3.00%, Maturing May 14, 2020		540		518,415
Six Flags Theme Parks, Inc.
Term Loan, 3.50%, Maturing December 20, 2018		599		596,858
SRAM, LLC
Term Loan, 4.01%, Maturing April 10, 2020		331		326,090
Town Sports International Inc.
Term Loan, 4.50%, Maturing November 16, 2020		223		186,094
US Finco LLC
Term Loan, 4.00%, Maturing May 29, 2020		74		72,766
WMG Acquisition Corp.
Term Loan, 3.75%, Maturing July 1, 2020		173		168,088
Zuffa LLC
Term Loan, 3.75%, Maturing February 25, 2020		565		551,993

			$	7,808,041


Lodging and Casinos — 2.3%
Affinity Gaming, LLC
Term Loan, 5.25%, Maturing November 9, 2017		457	$	457,053
Amaya Holdings B.V.
Term Loan, 5.00%, Maturing August 1, 2021		525		521,719
Term Loan - Second Lien, 8.00%, Maturing August 1, 2022		150		151,625
Boyd Gaming Corporation
Term Loan, 4.00%, Maturing August 14, 2020		94		93,527


		12		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Lodging and Casinos (continued)
Caesars Entertainment Operating Company
Term Loan, 6.99%, Maturing March 1, 2017		366	$	328,706
CityCenter Holdings, LLC
Term Loan, 4.25%, Maturing October 16, 2020		636		633,526
Four Seasons Holdings Inc.
Term Loan, 3.50%, Maturing June 27, 2020		99		98,134
Term Loan - Second Lien, 6.25%, Maturing December 27, 2020		500		503,750
Hilton Worldwide Finance, LLC
Term Loan, 3.50%, Maturing October 26, 2020		2,304		2,284,380
La Quinta Intermediate Holdings LLC
Term Loan, 4.00%, Maturing April 14, 2021		185		183,505
Las Vegas Sands LLC
Term Loan, 3.25%, Maturing December 19, 2020		347		346,507
MGM Resorts International
Term Loan, 3.50%, Maturing December 20, 2019		491		486,107
Pinnacle Entertainment, Inc.
Term Loan, 3.75%, Maturing August 13, 2020		131		129,978
Playa Resorts Holding B.V.
Term Loan, 4.00%, Maturing August 6, 2019		99		97,762
RHP Hotel Properties, LP
Term Loan, 3.75%, Maturing January 15, 2021		125		123,960
Scientific Games International, Inc.
Term Loan, 4.25%, Maturing October 18, 2020		645		643,411

			$	7,083,650


Nonferrous Metals / Minerals — 0.8%
Alpha Natural Resources, LLC
Term Loan, 3.50%, Maturing May 22, 2020		148	$	128,789
Arch Coal Inc.
Term Loan, 6.25%, Maturing May 16, 2018		562		499,463
Fairmount Minerals Ltd.
Term Loan, 4.50%, Maturing September 5, 2019		371		370,554
Murray Energy Corporation
Term Loan, 5.25%, Maturing December 5, 2019		249		246,884
Noranda Aluminum Acquisition Corporation
Term Loan, 5.75%, Maturing February 28, 2019		171		166,466
Novelis, Inc.
Term Loan, 3.75%, Maturing March 10, 2017		409		405,804
Oxbow Carbon LLC
Term Loan, 4.25%, Maturing July 19, 2019		94		92,578
Term Loan - Second Lien, 8.00%, Maturing January 17, 2020		150		147,000
Walter Energy, Inc.
Term Loan, 7.25%, Maturing April 2, 2018		431		374,134

			$	2,431,672


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Oil and Gas — 2.0%
Ameriforge Group, Inc.
Term Loan, 5.00%, Maturing December 19, 2019		222	$	221,498
Bronco Midstream Funding LLC
Term Loan, 5.00%, Maturing August 17, 2020		303		302,601
Citgo Petroleum Corporation
Term Loan, 4.50%, Maturing July 29, 2021		200		200,292
Crestwood Holdings LLC
Term Loan, 7.00%, Maturing June 19, 2019		178		178,452
Drillships Ocean Ventures Inc.
Term Loan, 5.50%, Maturing July 25, 2021		200		192,019
Energy Transfer Equity, L.P.
Term Loan, 3.25%, Maturing December 2, 2019		325		320,633
Fieldwood Energy LLC
Term Loan, 3.88%, Maturing September 28, 2018		198		194,204
Floatel International, Ltd.
Term Loan, 6.00%, Maturing June 27, 2020		174		169,228
MEG Energy Corp.
Term Loan, 3.75%, Maturing March 31, 2020		1,446		1,423,818
Obsidian Natural Gas Trust
Term Loan, 7.00%, Maturing November 2, 2015		323		321,398
Paragon Offshore Finance Company
Term Loan, 3.75%, Maturing July 18, 2021		150		140,250
Ruby Western Pipeline Holdings, LLC
Term Loan, 3.50%, Maturing March 27, 2020		83		83,255
Samson Investment Company
Term Loan - Second Lien, 5.00%, Maturing September 25, 2018		175		162,750
Seadrill Partners Finco LLC
Term Loan, 4.00%, Maturing February 21, 2021		645		612,647
Seventy Seven Operating LLC
Term Loan, 3.75%, Maturing June 25, 2021		100		97,797
Sheridan Investment Partners II, L.P.
Term Loan, 4.25%, Maturing December 16, 2020		28		27,152
Term Loan, 4.25%, Maturing December 16, 2020		76		72,805
Term Loan, 4.25%, Maturing December 16, 2020		544		523,375
Sheridan Production Partners I, LLC
Term Loan, 4.25%, Maturing October 1, 2019		31		30,021
Term Loan, 4.25%, Maturing October 1, 2019		51		49,150
Term Loan, 4.25%, Maturing October 1, 2019		383		370,921
Tallgrass Operations, LLC
Term Loan, 4.25%, Maturing November 13, 2018		249		248,487
Tervita Corporation
Term Loan, 6.25%, Maturing May 15, 2018		319		310,598

			$	6,253,351


		13		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Publishing — 1.3%
Ascend Learning, LLC
Term Loan, 6.00%, Maturing July 31, 2019		223	$	224,569
Getty Images, Inc.
Term Loan, 4.75%, Maturing October 18, 2019		933		881,165
Interactive Data Corporation
Term Loan, 4.75%, Maturing May 2, 2021		274		274,655
Laureate Education, Inc.
Term Loan, 5.00%, Maturing June 15, 2018		1,526		1,476,712
McGraw-Hill Global Education Holdings, LLC
Term Loan, 5.75%, Maturing March 22, 2019		126		126,873
Media General, Inc.
Term Loan, 4.25%, Maturing July 31, 2020		181		180,602
Merrill Communications, LLC
Term Loan, 5.75%, Maturing March 8, 2018		135		135,233
Multi Packaging Solutions, Inc.
Term Loan, 4.25%, Maturing September 30, 2020		75		73,645
ProQuest LLC
Term Loan, Maturing October 24, 2021⁽²⁾		125		125,026
Rentpath, Inc.
Term Loan, 6.25%, Maturing May 29, 2020		173		173,136
Springer Science+Business Media Deutschland GmbH
Term Loan, 4.75%, Maturing August 16, 2021		198		196,849

			$	3,868,465


Radio and Television — 1.0%
Block Communications, Inc.
Term Loan, Maturing October 21, 2021⁽²⁾		50	$	50,031
Clear Channel Communications, Inc.
Term Loan, 7.65%, Maturing July 30, 2019		450		436,050
Cumulus Media Holdings Inc.
Term Loan, 4.25%, Maturing December 23, 2020		748		738,151
Mission Broadcasting, Inc.
Term Loan, 3.75%, Maturing October 1, 2020		127		125,392
Nexstar Broadcasting, Inc.
Term Loan, 3.75%, Maturing October 1, 2020		144		142,197
TWCC Holding Corp.
Term Loan, 3.50%, Maturing February 13, 2017		255		252,494
Term Loan - Second Lien, 7.00%, Maturing June 26, 2020		125		123,047
Univision Communications Inc.
Term Loan, 4.00%, Maturing March 1, 2020		1,147		1,136,674

			$	3,004,036


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Retailers (Except Food and Drug) — 2.9%
99 Cents Only Stores
Term Loan, 4.50%, Maturing January 11, 2019		339	$	336,965
B.C. Unlimited Liability Company
Term Loan, 4.50%, Maturing October 27, 2021		1,275		1,275,974
Bass Pro Group, LLC
Term Loan, 3.75%, Maturing November 20, 2019		445		440,676
Burlington Coat Factory Warehouse Corporation
Term Loan, 4.25%, Maturing July 17, 2021		100		99,189
CDW LLC
Term Loan, 3.25%, Maturing April 29, 2020		369		361,896
David’s Bridal, Inc.
Term Loan, 5.00%, Maturing October 11, 2019		119		116,669
Evergreen Acqco 1 LP
Term Loan, 5.00%, Maturing July 9, 2019		122		121,583
Harbor Freight Tools USA, Inc.
Term Loan, 4.75%, Maturing July 26, 2019		198		197,747
Hudson’s Bay Company
Term Loan, 4.75%, Maturing November 4, 2020		671		672,616
J. Crew Group, Inc.
Term Loan, 4.00%, Maturing March 5, 2021		522		506,573
Jo-Ann Stores, Inc.
Term Loan, 4.00%, Maturing March 16, 2018		331		318,370
Men’s Wearhouse, Inc. (The)
Term Loan, 4.50%, Maturing June 18, 2021		250		249,687
Michaels Stores, Inc.
Term Loan, 3.75%, Maturing January 28, 2020		1,487		1,464,674
Term Loan, 4.00%, Maturing January 28, 2020		175		172,599
Neiman Marcus Group, Inc. (The)
Term Loan, 4.25%, Maturing October 25, 2020		767		756,427
Party City Holdings Inc.
Term Loan, 4.00%, Maturing July 27, 2019		270		265,310
Petco Animal Supplies, Inc.
Term Loan, 4.00%, Maturing November 24, 2017		732		726,601
Pier 1 Imports (U.S.), Inc.
Term Loan, 4.50%, Maturing April 30, 2021		100		99,002
Pilot Travel Centers LLC
Term Loan, 4.25%, Maturing October 1, 2021		400		401,188
Spin Holdco Inc.
Term Loan, 4.25%, Maturing November 14, 2019		297		294,777

			$	8,878,523


Steel — 0.6%
Essar Steel Algoma, Inc.
Term Loan, 10.25%, Maturing November 15, 2014		197	$	197,206
FMG Resources (August 2006) Pty. Ltd.
Term Loan, 3.75%, Maturing June 30, 2019		1,201		1,174,119


		14		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Steel (continued)
JMC Steel Group, Inc.
Term Loan, 4.75%, Maturing April 1, 2017		145	$	143,098
Neenah Foundry Company
Term Loan, 6.75%, Maturing April 26, 2017		88		87,216
Patriot Coal Corporation
Term Loan, 9.00%, Maturing December 15, 2018		74		72,328
Waupaca Foundry, Inc.
Term Loan, 4.00%, Maturing June 29, 2017		202		201,842

			$	1,875,809


Surface Transport — 0.3%
Hertz Corporation (The)
Term Loan, 3.75%, Maturing March 12, 2018		344	$	340,974
Stena International S.a.r.l.
Term Loan, 4.00%, Maturing March 3, 2021		274		269,520
Swift Transportation Co., LLC
Term Loan, 3.75%, Maturing June 9, 2021		199		198,171

			$	808,665


Telecommunications — 1.7%
Arris Group, Inc.
Term Loan, 3.25%, Maturing April 17, 2020		132	$	131,339
Cellular South, Inc.
Term Loan, 3.25%, Maturing May 22, 2020		74		72,998
Intelsat Jackson Holdings S.A.
Term Loan, 3.75%, Maturing June 30, 2019		1,650		1,639,687
IPC Systems, Inc.
Term Loan, 6.00%, Maturing November 8, 2020		175		174,617
SBA Senior Finance II LLC
Term Loan, 3.25%, Maturing March 24, 2021		349		343,597
Syniverse Holdings, Inc.
Term Loan, 4.00%, Maturing April 23, 2019		242		238,745
Term Loan, 4.00%, Maturing April 23, 2019		336		332,790
Telesat Canada
Term Loan, 3.50%, Maturing March 28, 2019		660		651,503
Windstream Corporation
Term Loan, 3.50%, Maturing August 8, 2019		123		121,464
Term Loan, 3.50%, Maturing January 23, 2020		1,361		1,350,089

			$	5,056,829


Utilities — 1.1%
Calpine Construction Finance Company, L.P.
Term Loan, 3.00%, Maturing May 3, 2020		198	$	192,316
Term Loan, 3.25%, Maturing January 31, 2022		74		72,213


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value


Utilities (continued)
Calpine Corporation
Term Loan, 4.00%, Maturing April 1, 2018		194	$	192,273
Term Loan, 4.00%, Maturing April 1, 2018		531		528,096
Term Loan, 4.00%, Maturing October 9, 2019		172		170,013
Dynegy Holdings Inc.
Term Loan, 4.00%, Maturing April 23, 2020		182		181,510
EFS Cogen Holdings I LLC
Term Loan, 3.75%, Maturing December 17, 2020		88		87,584
Energy Future Intermediate Holding Company LLC
DIP Loan, 4.25%, Maturing June 19, 2016		300		299,766
Equipower Resources Holdings LLC
Term Loan, 4.25%, Maturing December 31, 2019		99		98,421
Granite Acquisition Inc.
Term Loan, Maturing October 15, 2021⁽²⁾		21		21,165
Term Loan, Maturing October 15, 2021⁽²⁾		479		481,023
La Frontera Generation, LLC
Term Loan, 4.50%, Maturing September 30, 2020		86		85,332
TPF II Power, LLC
Term Loan, 5.50%, Maturing October 2, 2021		275		275,859
WTG Holdings III Corp.
Term Loan, 4.75%, Maturing January 15, 2021		573		569,957

			$	3,255,528


Total Senior Floating-Rate Interests (identified cost $169,996,032)			$	167,629,121


Collateralized Mortgage Obligations — 20.8%


Security	Principal Amount (000’s omitted)		Value
Federal Home Loan Mortgage Corp.:
Series 2113, Class QG, 6.00%, 1/15/29	$	1,376	$	1,557,060
Series 2167, Class BZ, 7.00%, 6/15/29		1,055		1,215,679
Series 2182, Class ZB, 8.00%, 9/15/29		1,731		2,077,422
Series 2631, (Interest Only), Class DS, 6.947%, 6/15/33⁽⁶⁾⁽⁷⁾		2,955		516,939
Series 2770, (Interest Only), Class SH, 6.947%, 3/15/34⁽⁶⁾⁽⁷⁾		3,337		647,079
Series 2981, (Interest Only), Class CS, 6.567%, 5/15/35⁽⁶⁾⁽⁷⁾		1,949		359,668
Series 3114, (Interest Only), Class TS, 6.497%, 9/15/30⁽⁶⁾⁽⁷⁾		4,789		801,560
Series 3339, (Interest Only), Class JI, 6.437%, 7/15/37⁽⁶⁾⁽⁷⁾		3,912		569,866
Series 3898, Class TS, 5.00%, 4/15/41⁽⁷⁾		596		602,889


		15		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Security	Principal Amount (000’s omitted)		Value

Federal Home Loan Mortgage Corp.: (continued)
Series 4109, (Interest Only), Class ES, 5.997%, 12/15/41⁽⁶⁾⁽⁷⁾	$	4,965	$	273,042
Series 4163, (Interest Only), Class GS, 6.047%, 11/15/32⁽⁶⁾⁽⁷⁾		6,842		1,402,498
Series 4169, (Interest Only), Class AS, 6.097%, 2/15/33⁽⁶⁾⁽⁷⁾		4,353		834,255
Series 4180, (Interest Only), Class GI, 3.50%, 8/15/26⁽⁶⁾		4,730		583,078
Series 4203, (Interest Only), Class QS, 6.097%, 5/15/43⁽⁶⁾⁽⁷⁾		4,569		900,529
Series 4273, Class PU, 4.00%, 11/15/43		2,574		2,613,151
Series 4316, (Interest Only), Class JS, 5.947%, 1/15/44⁽⁶⁾⁽⁷⁾		5,251		934,607
Series 4332, (Interest Only), Class KI, 4.00%, 9/15/43⁽⁶⁾		3,904		646,559
Series 4370, (Interest Only), Class IO, 3.50%, 9/15/41⁽⁶⁾		3,862		675,044

			$	17,210,925

Federal National Mortgage Association:
Series 1989-89, Class H, 9.00%, 11/25/19	$	54	$	60,209
Series 1991-122, Class N, 7.50%, 9/25/21		216		239,795
Series 1993-84, Class M, 7.50%, 6/25/23		1,750		2,013,657
Series 1994-42, Class K, 6.50%, 4/25/24		522		580,106
Series 1997-28, Class ZA, 7.50%, 4/20/27		614		723,143
Series 1997-38, Class N, 8.00%, 5/20/27		547		642,253
Series 2004-46, (Interest Only), Class SI, 5.848%, 5/25/34⁽⁶⁾⁽⁷⁾		3,376		490,782
Series 2005-17, (Interest Only), Class SA, 6.548%, 3/25/35⁽⁶⁾⁽⁷⁾		2,307		448,995
Series 2006-42, (Interest Only), Class PI, 6.438%, 6/25/36⁽⁶⁾⁽⁷⁾		4,388		725,955
Series 2006-44, (Interest Only), Class IS, 6.448%, 6/25/36⁽⁶⁾⁽⁷⁾		3,538		597,316
Series 2006-72, (Interest Only), Class GI, 6.428%, 8/25/36⁽⁶⁾⁽⁷⁾		6,505		1,034,390
Series 2007-50, (Interest Only), Class LS, 6.298%, 6/25/37⁽⁶⁾⁽⁷⁾		2,835		442,827
Series 2007-74, Class AC, 5.00%, 8/25/37		3,396		3,727,389
Series 2008-26, (Interest Only), Class SA, 6.048%, 4/25/38⁽⁶⁾⁽⁷⁾		4,415		701,979
Series 2008-29, (Interest Only), Class CI, 5.00%, 9/25/35⁽⁶⁾		3,018		188,602
Series 2008-61, (Interest Only), Class S, 5.948%, 7/25/38⁽⁶⁾⁽⁷⁾		5,521		937,651
Series 2010-67, (Interest Only), Class SC, 5.648%, 6/25/40⁽⁶⁾⁽⁷⁾		1,889		267,043
Series 2010-99, (Interest Only), Class NS, 6.448%, 3/25/39⁽⁶⁾⁽⁷⁾		5,707		647,828


Security	Principal Amount (000’s omitted)		Value

Federal National Mortgage Association: (continued)
Series 2010-109, (Interest Only), Class PS, 6.448%, 10/25/40⁽⁶⁾⁽⁷⁾	$	7,329	$	1,353,826
Series 2010-119, (Interest Only), Class SK, 5.848%, 4/25/40⁽⁶⁾⁽⁷⁾		3,338		228,460
Series 2010-124, (Interest Only), Class SJ, 5.898%, 11/25/38⁽⁶⁾⁽⁷⁾		4,429		619,458
Series 2010-147, (Interest Only), Class KS, 5.798%, 1/25/41⁽⁶⁾⁽⁷⁾		8,709		1,190,186
Series 2010-150, (Interest Only), Class GS, 6.598%, 1/25/21⁽⁶⁾⁽⁷⁾		6,059		743,772
Series 2010-151, (Interest Only), Class PI, 4.00%, 5/25/28⁽⁶⁾		11,789		648,789
Series 2011-22, (Interest Only), Class IC, 3.50%, 12/25/25⁽⁶⁾		8,270		910,342
Series 2011-49, Class NT, 6.00%, 6/25/41⁽⁷⁾		1,370		1,527,694
Series 2012-52, (Interest Only), Class AI, 3.50%, 8/25/26⁽⁶⁾		10,240		941,044
Series 2012-56, (Interest Only), Class SU, 6.598%, 8/25/26⁽⁶⁾⁽⁷⁾		3,618		387,863
Series 2012-63, (Interest Only), Class EI, 3.50%, 8/25/40⁽⁶⁾		8,371		1,145,222
Series 2012-150, (Interest Only), Class PS, 5.998%, 1/25/43⁽⁶⁾⁽⁷⁾		8,779		1,722,113
Series 2012-150, (Interest Only), Class SK, 5.998%, 1/25/43⁽⁶⁾⁽⁷⁾		4,923		965,052
Series 2013-6, Class TA, 1.50%, 1/25/43		4,396		4,149,719
Series 2013-23, (Interest Only), Class CS, 6.098%, 3/25/33⁽⁶⁾⁽⁷⁾		4,356		890,782
Series 2013-54, (Interest Only), Class HS, 6.148%, 10/25/41⁽⁶⁾⁽⁷⁾		4,358		747,088
Series 2013-123, Class VS, 11.595%, 9/25/41⁽⁷⁾		109		110,446
Series 2014-32, (Interest Only), Class EI, 4.00%, 6/25/44⁽⁶⁾		3,914		736,041
Series 2014-36, (Interest Only), Class ID, 4.00%, 6/25/44⁽⁶⁾		3,507		660,764
Series 2014-55, (Interest Only), Class IN, 3.50%, 7/25/44⁽⁶⁾		5,913		1,085,448
Series 2014-61, Class US, 8.196%, 10/25/44⁽⁷⁾		2,153		2,190,700
Series 2014-72, Class CS, 8.969%, 11/25/44⁽⁷⁾		2,393		2,437,297
Series G-33, Class PT, 7.00%, 10/25/21		425		452,206

			$	40,314,232

Government National Mortgage Association:
Series 2010-4, (Interest Only), Class SK, 6.043%, 5/20/35⁽⁶⁾⁽⁷⁾	$	1,942	$	322,384
Series 2012-50, (Principal Only), Class CO, 0.00%, 8/20/40⁽⁸⁾		154		143,637
Series 2013-24, Class KS, 5.572%, 2/20/43⁽⁷⁾		1,121		1,134,374
Series 2013-124, Class LS, 11.981%, 5/20/41⁽⁷⁾		451		476,478


		16		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Security	Principal Amount (000’s omitted)		Value

Government National Mortgage Association: (continued)
Series 2014-117, Class HS, 31.544%, 8/20/44⁽⁷⁾	$	937	$	1,308,864
Series 2014-132, Class SC, 13.418%, 9/20/44⁽⁷⁾		2,697		2,881,635

			$	6,267,372


Total Collateralized Mortgage Obligations (identified cost $63,012,257)			$	63,792,529


Commercial Mortgage-Backed Securities — 7.1%


Security	Principal Amount (000’s omitted)		Value
COMM, Series 2014-KYO, Class D, 2.153%, 6/11/27^(9)(10)	$	1,000	$	999,393
COMM, Series 2014-LC17, Class D, 3.687%, 10/10/47^(10)(11)		1,065		912,457
ESA, Series 2013-ESH7, Class D7, 5.053%, 12/5/31^(10)(11)		1,080		1,121,279
HILT, Series 2013-HLT, Class DFX, 4.407%, 11/5/30⁽¹⁰⁾		850		874,797
JPMBB, Series 2014-C19, Class D, 4.679%, 4/15/47^(10)(11)		1,425		1,337,063
JPMBB, Series 2014-C21, Class D, 4.66%, 8/15/47⁽¹¹⁾		650		605,238
JPMBB, Series 2014-C22, Class D, 4.562%, 9/15/47^(10)(11)		1,850		1,687,134
JPMBB, Series 2014-C23, Class D, 3.961%, 9/15/47^(10)(11)		850		751,314
JPMCC, Series 2006-CB14, Class A4, 5.481%, 12/12/44⁽¹¹⁾		433		448,282
JPMCC, Series 2011-C5, Class D, 5.323%, 8/15/46^(10)(11)		1,850		1,961,796
JPMCC, Series 2014-DSTY, Class B, 3.771%, 6/10/27⁽¹⁰⁾		1,900		1,953,570
UBSC, Series 2011-C1, Class D, 5.875%, 1/10/45^(10)(11)		2,000		2,242,547
UBSCM, Series 2012-C1, Class D, 5.535%, 5/10/45^(10)(11)		2,000		2,090,266
WF-RBS, Series 2012-C9, Class D, 4.803%, 11/15/45^(10)(11)		1,250		1,237,597
WF-RBS, Series 2014-LC14, Class D, 4.586%, 3/15/47^(10)(11)		1,150		1,076,634
WFCM, Series 2010-C1, Class C, 5.585%, 11/15/43^(10)(11)		500		559,312
WFCM, Series 2013-LC12, Class D, 4.302%, 7/15/46^(10)(11)		2,000		1,905,691


Total Commercial Mortgage-Backed Securities (identified cost $21,094,881)			$	21,764,370


Mortgage Pass-Throughs — 24.6%


Security	Principal Amount (000’s omitted)		Value

Federal Home Loan Mortgage Corp.:
2.889%, with maturity at 2035⁽¹²⁾	$	3,210	$	3,431,680
5.00%, with various maturities to 2023		2,626		2,808,990
6.00%, with various maturities to 2029		2,455		2,774,493
6.15%, with maturity at 2027		982		1,119,101
6.50%, with various maturities to 2032		7,662		8,646,803
7.00%, with various maturities to 2035		4,509		5,267,650
7.50%, with various maturities to 2035		2,061		2,379,701
8.00%, with various maturities to 2032		2,093		2,518,904
8.50%, with various maturities to 2031		2,443		2,901,442
9.00%, with maturity at 2031		215		261,983
9.50%, with various maturities to 2022		106		117,864
11.50%, with maturity at 2019		22		23,472

			$	32,252,083

Federal National Mortgage Association:
5.00%, with various maturities to 2040	$	4,762	$	5,287,126
5.459%, with maturity at 2037⁽¹²⁾		973		1,018,410
5.50%, with various maturities to 2033		3,160		3,535,877
6.00%, with maturity at 2023		1,916		2,128,483
6.321%, with maturity at 2032⁽¹²⁾		1,347		1,508,182
6.50%, with various maturities to 2036		4,449		5,026,857
7.00%, with various maturities to 2033		7,006		8,156,184
7.50%, with various maturities to 2031		4,769		5,553,066
8.00%, with various maturities to 2029		1,302		1,526,322
8.50%, with various maturities to 2027		198		227,178
9.00%, with various maturities to 2029		551		642,016
10.00%, with various maturities to 2031		419		477,652

			$	35,087,353

Government National Mortgage Association:
7.50%, with maturity at 2025	$	2,253	$	2,575,624
8.00%, with various maturities to 2027		2,840		3,379,601
9.00%, with various maturities to 2026		1,429		1,725,787
9.50%, with maturity at 2025		167		191,401
11.00%, with maturity at 2018		72		78,905

			$	7,951,318


Total Mortgage Pass-Throughs (identified cost $70,423,872)			$	75,290,754


		17		See Notes to Consolidated Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2014

Consolidated Portfolio of Investments — continued


Asset-Backed Securities — 3.9%


Security	Principal Amount (000’s omitted)		Value

AH4R, Series 2014-SFR1, Class C, 2.00%, 6/17/31^(9)(10)	$	200	$	194,321
AH4R, Series 2014-SFR1, Class D, 2.35%, 6/17/31^(9)(10)		825		796,839
ARP, Series 2014-SFR1, Class C, 2.504%, 9/17/31^(9)(10)		2,000		1,993,929
CAH, Series 2014-1A, Class C, 2.10%, 5/17/31^(9)(10)		760		745,799
Centurion CDO IX Ltd., Series 2005-9A, Class D1, 4.978%, 7/17/19^(9)(10)		500		496,238
Invitation Homes Trust, Series 2013-SFR1, Class D, 2.40%, 12/17/30^(9)(10)		550		534,116
Invitation Homes Trust, Series 2014-SFR1, Class D, 2.754%, 6/17/31^(9)(10)		1,220		1,203,857
OMFIT, Series 2014-1A, Class A, 2.43%, 6/18/24⁽¹⁰⁾		700		703,780
OMFIT, Series 2014-1A, Class B, 3.24%, 6/18/24⁽¹⁰⁾		800		798,368
SBY, Series 2014-1, Class C, 2.204%, 9/17/31^(9)(10)		2,000		1,966,666
SCFT, Series 2014-AA, Class B, 4.61%, 10/25/27⁽¹⁰⁾		1,980		1,984,340
SRFC, Series 2014-1A, Class B, 2.42%, 3/20/30⁽¹⁰⁾		424		423,398


Total Asset-Backed Securities (identified cost $11,939,876)			$	11,841,651


Corporate Bonds & Notes — 1.0%


Security	Principal Amount (000’s omitted)		Value

Chemicals and Plastics — 0.1%
Ineos Finance PLC
7.50%, 5/1/20⁽¹⁰⁾	$	150	$	161,063

			$	161,063


Financial Intermediaries — 0.1%
First Data Corp.
6.75%, 11/1/20⁽¹⁰⁾	$	163	$	174,818

			$	174,818


Food Products — 0.4%
Stretford 79 PLC
4.81%, 7/15/20^(9)(10)	$	1,000	$	1,441,394

			$	1,441,394


Health Care — 0.1%
CHS/Community Health Systems, Inc.
5.125%, 8/15/18	$	425	$	443,062

			$	443,062


Security		Principal Amount (000’s omitted)		Value


Lodging and Casinos — 0.1%
Caesars Entertainment Operating Co., Inc.
8.50%, 2/15/20		$	350	$	264,250

				$	264,250


Utilities — 0.2%
Calpine Corp.
7.875%, 1/15/23⁽¹⁰⁾		$	539	$	599,637

				$	599,637


Total Corporate Bonds & Notes (identified cost $3,339,720)				$	3,084,224


Foreign Corporate Bonds — 0.2%


Security		Principal Amount (000’s omitted)		Value

Supranational — 0.2%
International Bank for Reconstruction & Development
3.40%, 4/15/17⁽¹³⁾	UYU		17,219	$	728,546

				$	728,546


Total Foreign Corporate Bonds (identified cost $764,754)				$	728,546


Foreign Government Bonds — 10.6%


Security		Principal Amount (000’s omitted)		Value