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, 2016

Date of Reporting Period

Item 1. Reports to Stockholders

LOGO

Eaton Vance

Short Duration Diversified Income Fund (EVG)

Annual Report

October 31, 2016

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 has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor.

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, 2016

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

Financial Statements			5

Report of Independent Registered Public Accounting Firm			41

Federal Tax Information			42

Notice to Shareholders			43

Dividend Reinvestment Plan			44

Management and Organization			46

Important Notices			49

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Management’s Discussion of Fund Performance¹

Economic and Market Conditions

During the 12-month period ended October 31, 2016, the accommodative policies of major central banks fueled broad gains across the world’s financial markets. Equity returns were positive on a global basis and particularly strong in emerging markets. Key U.S. and international bond indexes climbed higher as interest rates fell and credit spreads narrowed. Emerging market currencies generally strengthened versus the U.S. dollar, while developed market currencies weakened.

As the fiscal year began, investors were preparing for the first interest-rate increase from the Federal Reserve (the Fed) in nearly a decade. While the Fed raised rates 0.25% on December 2015, it held policy steady over the remainder of the period amid uneven U.S. economic growth and slowing growth abroad. Foreign central banks aggressively eased policy in efforts to bolster their respective economies. The Bank of England cut interest rates to an all-time low and expanded its asset purchase program following “Brexit,” the U.K.’s June 2016 vote to leave the European Union. The Bank of Japan introduced negative rates, and the European Central Bank cut rates deeper into negative territory and increased its monthly bond purchases.

The price of gold surged nearly 20% during the period, buoyed by central bank actions and uncertainty surrounding Brexit and the U.S. presidential election. Oil prices started to recover in February 2016; however, the rally was not strong enough to offset sharp losses suffered earlier in the fiscal year. The weakness in oil drove a modest decline in the broad commodity market for the full 12 months.

Fund Performance

For the fiscal year ended October 31, 2016, Eaton Vance Short Duration Diversified Income Fund (the Fund) had a total return of 6.10% 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. The Fund benefited from these investments, as they outperformed similar duration⁸ U.S. Treasurys over the period. The Fund also benefited from its investments in the Agency Collateralized Mortgage Obligation market, as spreads tightened on the lower coupon securities the Fund invests in.

Investments in senior secured loans also contributed to Fund performance. For the 12-month period, BB-rated⁹ loans in the S&P/LSTA Leveraged Loan Index² (the Index) returned 5.16%, B-rated loans in the Index returned 6.77%, CCC-rated loans in the Index returned 14.48% and D-rated (defaulted) loans in the Index returned 11.04%. Though the Fund remained underweight to the better-performing, higher-credit risk tiers of the market, the limited weight of these segments kept the relative impact limited. The Fund’s overweight to the higher-quality loans in the B ratings range — which outperformed the market at large — contributed more than enough to counterbalance the impact of being underweight the riskier loans.

The Fund’s exposure to foreign currency instruments around the world contributed to Fund performance during the 12-month period. Eastern Europe was the best performing region, led by long exposure to Russia’s ruble and a long position in the Serbian dinar versus the euro. The Fund also benefited from positions in Asia including long exposure to the Indonesian rupiah and Bangladeshi taka. Latin America was another region that helped performance, driven by long exposure to Argentina’s peso and Brazil’s real. Other holdings notably impacting performance included positive contribution from a long position in the Icelandic krona, while a long position in the Mexican peso detracted.

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 include 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 or equal to 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, 2016

Performance³

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


% Average Annual Total Returns	Inception Date		One Year			Five Years			Ten Years
Fund at NAV		02/28/2005		6.10	%		3.85	%		5.52	%
Fund at Market Price		—		6.60			3.15			4.66


% Premium/Discount to NAV⁴
										–11.23	%


Distributions⁵
Total Distributions per share for the period										$1.080
Distribution Rate at NAV										7.18	%
Distribution Rate at Market Price										8.08	%


% Total Leverage⁶
Derivatives										25.29	%
Borrowings										20.53

Fund Profile

Asset Allocation (% of total leveraged assets)⁷

LOGO

See Endnotes and Additional Disclosures in this report.


		3

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

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.

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.

³	Performance results reflect the effects of leverage. Absent an expense waiver by the investment adviser, if applicable, the returns would be lower.

⁴	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.

⁵

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. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.

⁶

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.

⁷

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 184.6%. Please refer to the definition of total leveraged assets within the Notes to Financial Statements included herein.

⁸	Duration is a measure of the expected change in price of a bond — in percentage terms — given a one percent change in interest rates, all else being constant. Securities with lower durations tend to be less sensitive to interest rate changes.

⁹

Credit ratings are categorized using S&P. 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 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.

Fund profile subject to change due to active management.

Important Notice to Shareholders

Effective December 1, 2016, Sarah Orvin, CFA, Vice President of EVM, became a portfolio manager of the Fund, joining current managers Scott H. Page, CFA, Payson F. Swaffield, CFA, Catherine C. McDermott, Andrew Szczurowski, CFA and Eric Stein, CFA.


		4

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments


Senior Floating-Rate Loans — 53.1%⁽¹⁾


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


Aerospace and Defense — 0.8%
BE Aerospace, Inc.
Term Loan, 3.82%, Maturing December 16, 2021		188	$	189,865
Silver II US Holdings, LLC
Term Loan, 4.00%, Maturing December 13, 2019		358		330,882
TransDigm, Inc.
Term Loan, 3.82%, Maturing February 28, 2020		500		500,765
Term Loan, 3.83%, Maturing June 4, 2021		318		317,390
Term Loan, 3.75%, Maturing June 9, 2023		669		667,897
Wesco Aircraft Hardware Corp.
Term Loan, 3.29%, Maturing September 23, 2021		175		174,781

			$	2,181,580


Air Transport — 0.2%
Virgin America, Inc.
Term Loan, 5.36%, Maturing April 4, 2019		450	$	456,750

			$	456,750


Automotive — 2.1%
Allison Transmission, Inc.
Term Loan, 3.25%, Maturing September 23, 2022		236	$	238,105
CS Intermediate Holdco 2, LLC
Term Loan, 4.00%, Maturing April 4, 2021		562		564,638
Term Loan, Maturing October 26, 2023⁽²⁾		25		25,125
Dayco Products, LLC
Term Loan, 5.25%, Maturing December 12, 2019		171		171,052
FCA US, LLC
Term Loan, 3.50%, Maturing May 24, 2017		515		516,305
Term Loan, 3.25%, Maturing December 31, 2018		216		216,251
Federal-Mogul Holdings Corporation
Term Loan, 4.75%, Maturing April 15, 2021		660		640,348
Goodyear Tire & Rubber Company (The)
Term Loan - Second Lien, 3.86%, Maturing April 30, 2019		575		579,415
Horizon Global Corporation
Term Loan, 7.00%, Maturing June 30, 2021		169		169,383
MPG Holdco I, Inc.
Term Loan, 3.75%, Maturing October 20, 2021		1,401		1,408,805
TI Group Automotive Systems, LLC
Term Loan, 4.50%, Maturing June 30, 2022		223		223,491
Tower Automotive Holdings USA, LLC
Term Loan, 4.00%, Maturing April 23, 2020		524		524,224
Tweddle Group, Inc.
Term Loan, Maturing October 13, 2023⁽²⁾		150		147,750


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


Automotive (continued)
Visteon Corporation
Term Loan, 3.55%, Maturing April 9, 2021		102	$	102,487

			$	5,527,379


Beverage and Tobacco — 0.1%
Flavors Holdings, Inc.
Term Loan, 6.75%, Maturing April 3, 2020		366	$	310,904

			$	310,904


Brokerage / Securities Dealers / Investment Houses — 0.2%
Aretec Group, Inc.
Term Loan, 8.00%, Maturing May 25, 2023		65	$	65,134
Term Loan - Second Lien, 6.50%, (2.00% Cash, 4.50% PIK), Maturing May 23, 2021		265		214,460
Salient Partners L.P.
Term Loan, 9.50%, Maturing May 19, 2021		144		137,401

			$	416,995


Building and Development — 1.0%
American Builders & Contractors Supply Co.
Term Loan, Maturing October 31, 2023⁽²⁾		475	$	477,672
Auction.com, LLC
Term Loan, 6.00%, Maturing May 12, 2019		197		198,231
CPG International, Inc.
Term Loan, 4.75%, Maturing September 30, 2020		395		397,165
DTZ U.S. Borrower, LLC
Term Loan, 4.25%, Maturing November 4, 2021		469		469,062
Ply Gem Industries, Inc.
Term Loan, 4.00%, Maturing February 1, 2021		419		421,331
Quikrete Holdings, Inc.
Term Loan, 4.00%, Maturing September 28, 2020		190		191,405
RE/MAX International, Inc.
Term Loan, 4.00%, Maturing July 31, 2020		328		327,946
Summit Materials Companies I, LLC
Term Loan, 4.00%, Maturing July 17, 2022		123		124,460

			$	2,607,272


Business Equipment and Services — 4.2%
Acosta Holdco, Inc.
Term Loan, 4.25%, Maturing September 26, 2021		538	$	518,292
AlixPartners, LLP
Term Loan, 4.00%, Maturing July 28, 2022		367		368,461
Altisource Solutions S.a.r.l.
Term Loan, 4.50%, Maturing December 9, 2020		124		120,337


		5		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Business Equipment and Services (continued)
Brickman Group Ltd., LLC
Term Loan, 4.00%, Maturing December 18, 2020			146	$	145,857
Camelot UK Holdco Limited
Term Loan, 4.75%, Maturing October 3, 2023			200		200,531
CCC Information Services, Inc.
Term Loan, 4.00%, Maturing December 20, 2019			843		843,945
Ceridian, LLC
Term Loan, 4.50%, Maturing September 15, 2020			605		595,099
Corporate Capital Trust, Inc.
Term Loan, 4.13%, Maturing May 20, 2019			1,059		1,062,738
CPM Holdings, Inc.
Term Loan, 6.00%, Maturing April 11, 2022			248		249,920
Education Management, LLC
Term Loan, 5.50%, Maturing July 2, 2020			80		21,935
Term Loan, 8.50%, (2.00% Cash, 6.50% PIK) Maturing July 2, 2020			149		8,201
EIG Investors Corp.
Term Loan, 6.48%, Maturing November 9, 2019			447		436,629
Emdeon Business Services, LLC
Term Loan, 3.75%, Maturing November 2, 2018			264		264,461
Extreme Reach, Inc.
Term Loan, 7.25%, Maturing February 7, 2020			115		115,826
Garda World Security Corporation
Term Loan, 4.00%, Maturing November 6, 2020			59		58,993
Term Loan, 4.00%, Maturing November 6, 2020			331		328,410
Global Payments, Inc.
Term Loan, 3.03%, Maturing April 22, 2023			65		65,224
IG Investment Holdings, LLC
Term Loan, 6.00%, Maturing October 29, 2021			439		442,852
Information Resources, Inc.
Term Loan, 4.75%, Maturing September 30, 2020			217		217,946
ION Trading Finance Limited
Term Loan, 4.25%, Maturing August 11, 2023	EUR		164		182,124
J.D. Power and Associates
Term Loan, 5.25%, Maturing September 7, 2023			125		126,406
KAR Auction Services, Inc.
Term Loan, 4.06%, Maturing March 11, 2021			534		537,984
Kronos Incorporated
Term Loan, 4.50%, Maturing October 30, 2019			431		432,449
Term Loan, Maturing October 4, 2023⁽²⁾			1,050		1,055,824
Term Loan - Second Lien, 9.75%, Maturing April 30, 2020			200		203,918
MCS AMS Sub-Holdings, LLC
Term Loan, 7.50%, Maturing October 15, 2019			79		73,422


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


Business Equipment and Services (continued)
Monitronics International, Inc.
Term Loan, 6.50%, Maturing September 30, 2022			397	$	395,235
PGX Holdings, Inc.
Term Loan, 5.75%, Maturing September 29, 2020			354		354,800
Prime Security Services Borrower, LLC
Term Loan, 4.75%, Maturing May 2, 2022			200		201,146
ServiceMaster Company
Term Loan, 4.25%, Maturing July 1, 2021			764		767,374
Spin Holdco, Inc.
Term Loan, 4.25%, Maturing November 14, 2019			620		617,958
Travelport Finance (Luxembourg) S.a.r.l.
Term Loan, 5.00%, Maturing September 2, 2021			216		217,781
WASH Multifamily Laundry Systems, LLC
Term Loan, 4.25%, Maturing May 14, 2022			211		211,353

				$	11,443,431


Cable and Satellite Television — 1.3%
Altice US Finance I Corporation
Term Loan, Maturing January 15, 2025⁽²⁾			200	$	201,000
Atlantic Broadband Finance, LLC
Term Loan, 3.25%, Maturing November 30, 2019			129		129,732
Block Communications, Inc.
Term Loan, 4.09%, Maturing November 7, 2021			198		199,604
Charter Communications Operating, LLC
Term Loan, 3.50%, Maturing January 24, 2023			373		375,820
CSC Holdings, LLC
Term Loan, 3.88%, Maturing October 11, 2024			461		462,733
MCC Iowa, LLC
Term Loan, 3.25%, Maturing January 29, 2021			169		170,238
Term Loan, 3.75%, Maturing June 30, 2021			147		147,473
Numericable Group SA
Term Loan, 4.56%, Maturing July 31, 2022			74		74,343
Term Loan, 4.00%, Maturing July 31, 2023	EUR		124		137,506
Numericable U.S., LLC
Term Loan, 5.14%, Maturing January 15, 2024			149		150,369
Telenet International Finance S.a.r.l.
Term Loan, 4.36%, Maturing June 30, 2024			150		150,562
Virgin Media Investment Holdings Limited
Term Loan, 3.50%, Maturing June 30, 2023			639		641,784
Term Loan, 4.25%, Maturing June 30, 2023	GBP		300		368,983
Ziggo Secured Finance BV
Term Loan, 3.75%, Maturing August 31, 2024	EUR		350		387,068

				$	3,597,215


		6		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Chemicals and Plastics — 2.8%
Aruba Investments, Inc.
Term Loan, 4.50%, Maturing February 2, 2022			58	$	57,934
Axalta Coating Systems US Holdings, Inc.
Term Loan, 3.75%, Maturing February 1, 2020			425		428,143
Emerald Performance Materials, LLC
Term Loan, 4.50%, Maturing August 1, 2021			337		339,442
Term Loan - Second Lien, 7.75%, Maturing August 1, 2022			100		99,750
Flint Group GmbH
Term Loan, 4.50%, Maturing September 7, 2021			24		24,268
Flint Group US, LLC
Term Loan, 4.50%, Maturing September 7, 2021			147		146,864
Gemini HDPE, LLC
Term Loan, 4.75%, Maturing August 7, 2021			367		369,549
Huntsman International, LLC
Term Loan, 3.59%, Maturing April 19, 2019			1,086		1,093,208
Term Loan, 3.75%, Maturing October 1, 2021			368		370,798
Term Loan, 4.25%, Maturing April 1, 2023			100		100,680
Ineos US Finance, LLC
Term Loan, 3.75%, Maturing May 4, 2018			1,317		1,321,257
Term Loan, 4.25%, Maturing March 31, 2022			123		123,868
Kraton Polymers, LLC
Term Loan, 6.00%, Maturing January 6, 2022			250		252,136
Kronos Worldwide, Inc.
Term Loan, 4.00%, Maturing February 18, 2020			49		48,141
MacDermid, Inc.
Term Loan, 5.50%, Maturing June 7, 2020			99		99,970
Term Loan, 5.00%, Maturing June 7, 2023			335		337,895
Minerals Technologies, Inc.
Term Loan, 3.75%, Maturing May 9, 2021			188		189,769
Orion Engineered Carbons GmbH
Term Loan, 3.75%, Maturing July 25, 2021	EUR		173		193,611
Term Loan, 3.84%, Maturing July 25, 2021			84		84,842
OXEA Finance, LLC
Term Loan, 4.25%, Maturing January 15, 2020			121		116,097
PolyOne Corporation
Term Loan, 3.50%, Maturing November 11, 2022			99		99,974
PQ Corporation
Term Loan, 5.75%, Maturing November 4, 2022			224		225,965
Solenis International L.P.
Term Loan, 4.50%, Maturing July 31, 2021	EUR		172		190,696
Tata Chemicals North America, Inc.
Term Loan, 3.75%, Maturing August 7, 2020			176		175,768
Trinseo Materials Operating S.C.A.
Term Loan, 4.25%, Maturing November 5, 2021			49		49,673


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


Chemicals and Plastics (continued)
Tronox Pigments (Netherlands) B.V.
Term Loan, 4.50%, Maturing March 19, 2020			386	$	384,572
Univar, Inc.
Term Loan, 4.25%, Maturing July 1, 2022			594		595,237
Zep, Inc.
Term Loan, 5.50%, Maturing June 27, 2022			74		74,340

				$	7,594,447


Clothing / Textiles — 0.1%
Ascena Retail Group, Inc.
Term Loan, 5.25%, Maturing August 21, 2022			277	$	270,824

				$	270,824


Conglomerates — 0.4%
RGIS Services, LLC
Term Loan, 5.50%, Maturing October 18, 2017			717	$	671,755
Spectrum Brands, Inc.
Term Loan, 3.29%, Maturing June 23, 2022			277		280,389

				$	952,144


Containers and Glass Products — 2.2%
Berry Plastics Holding Corporation
Term Loan, 3.50%, Maturing February 8, 2020			410	$	411,364
Term Loan, 3.50%, Maturing January 6, 2021			797		799,086
Term Loan, 3.75%, Maturing October 1, 2022			171		172,156
Hilex Poly Co., LLC
Term Loan, 6.00%, Maturing December 5, 2021			788		796,649
Horizon Holdings III SAS
Term Loan, 4.50%, Maturing August 1, 2022	EUR		300		333,282
Libbey Glass, Inc.
Term Loan, 3.75%, Maturing April 9, 2021			47		47,278
Pelican Products, Inc.
Term Loan, 5.25%, Maturing April 10, 2020			421		417,281
Reynolds Group Holdings, Inc.
Term Loan, 4.25%, Maturing February 5, 2023			1,903		1,909,945
SIG Combibloc Purchase Co. S.a.r.l.
Term Loan, 3.75%, Maturing March 13, 2022	EUR		394		437,028
SIG Combibloc US Acquisition, Inc.
Term Loan, 4.00%, Maturing March 13, 2022			222		222,231
TricorBraun, Inc.
Term Loan, 4.00%, Maturing May 3, 2018			388		388,664

				$	5,934,964


		7		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Cosmetics / Toiletries — 0.3%
Coty, Inc.
Term Loan, 3.03%, Maturing October 27, 2022		149	$	149,530
Galleria Co.
Term Loan, 3.75%, Maturing January 26, 2023		325		327,434
KIK Custom Products, Inc.
Term Loan, 6.00%, Maturing August 26, 2022		272		272,250
Revlon Consumer Products Corporation
Term Loan, 4.25%, Maturing September 7, 2023		75		75,269

			$	824,483


Drugs — 2.4%
Albany Molecular Research, Inc.
Term Loan, 5.75%, Maturing July 16, 2021		620	$	623,535
Alkermes, Inc.
Term Loan, 3.59%, Maturing September 25, 2021		72		72,361
AMAG Pharmaceuticals, Inc.
Term Loan, 4.75%, Maturing August 13, 2021		190		190,475
Amneal Pharmaceuticals, LLC
Term Loan, 4.50%, Maturing November 1, 2019		637		640,422
Arbor Pharmaceuticals, Inc.
Term Loan, 6.00%, Maturing June 28, 2023		275		277,922
DPx Holdings B.V.
Term Loan, 4.25%, Maturing March 11, 2021		540		540,702
Endo Luxembourg Finance Company I S.a.r.l.
Term Loan, 3.75%, Maturing September 26, 2022		496		496,173
Horizon Pharma, Inc.
Term Loan, 4.00%, Maturing May 7, 2021		444		443,819
Term Loan, Maturing October 18, 2021⁽²⁾		125		125,703
Jaguar Holding Company II
Term Loan, 4.25%, Maturing August 18, 2022		865		865,433
Mallinckrodt International Finance S.A.
Term Loan, 3.34%, Maturing March 19, 2021		268		268,041
Term Loan, 3.59%, Maturing March 19, 2021		221		220,672
Valeant Pharmaceuticals International, Inc.
Term Loan, 5.25%, Maturing December 11, 2019		331		331,065
Term Loan, 5.25%, Maturing August 5, 2020		695		695,229
Term Loan, 5.50%, Maturing April 1, 2022		662		663,008

			$	6,454,560


Ecological Services and Equipment — 0.4%
ADS Waste Holdings, Inc.
Term Loan, 3.75%, Maturing October 9, 2019		302	$	302,803
EnergySolutions, LLC
Term Loan, 6.75%, Maturing May 29, 2020		559		560,532


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


Ecological Services and Equipment (continued)
GFL Environmental, Inc.
Term Loan, 3.75%, Maturing September 23, 2023		150	$	150,375

			$	1,013,710


Electronics / Electrical — 4.8%
Answers Corporation
Term Loan, 0.00%, Maturing October 3, 2021⁽³⁾		222	$	118,015
Avago Technologies Cayman, Ltd.
Term Loan, 3.53%, Maturing February 1, 2023		1,096		1,109,097
Avast Software B.V.
Term Loan, 5.00%, Maturing September 30, 2022		350		353,413
Campaign Monitor Finance Pty. Limited
Term Loan, 6.25%, Maturing March 18, 2021		119		116,151
CommScope, Inc.
Term Loan, 3.54%, Maturing January 14, 2018		100		99,917
Term Loan, 3.25%, Maturing December 29, 2022		173		174,419
Cypress Semiconductor Corporation
Term Loan, 6.50%, Maturing July 5, 2021		198		199,886
Deltek, Inc.
Term Loan, 5.00%, Maturing June 25, 2022		350		352,319
Electrical Components International, Inc.
Term Loan, 5.75%, Maturing May 28, 2021		617		618,469
Entegris, Inc.
Term Loan, 3.50%, Maturing April 30, 2021		42		42,468
Excelitas Technologies Corp.
Term Loan, 6.00%, Maturing October 31, 2020		144		140,718
Go Daddy Operating Company, LLC
Term Loan, 4.25%, Maturing May 13, 2021		640		644,681
Infor (US), Inc.
Term Loan, 3.75%, Maturing June 3, 2020		890		888,436
Informatica Corporation
Term Loan, 4.50%, Maturing August 5, 2022		421		414,071
Lattice Semiconductor Corporation
Term Loan, 5.51%, Maturing March 10, 2021		98		97,537
M/A-COM Technology Solutions Holdings, Inc.
Term Loan, 4.63%, Maturing May 7, 2021		148		149,283
MA FinanceCo., LLC
Term Loan, 4.50%, Maturing November 20, 2019		191		192,258
Term Loan, 4.50%, Maturing November 20, 2021		691		694,430
Magic Newco, LLC
Term Loan, 6.50%, Maturing December 12, 2018		264		264,769
MH Sub I, LLC
Term Loan, 4.75%, Maturing July 8, 2021		221		221,591
Microsemi Corporation
Term Loan, 3.75%, Maturing January 15, 2023		69		70,163


		8		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Electronics / Electrical (continued)
MTS Systems Corporation
Term Loan, 5.00%, Maturing July 5, 2023		250	$	253,125
NXP B.V.
Term Loan, 3.34%, Maturing January 11, 2020		340		341,339
Term Loan, 3.41%, Maturing December 7, 2020		173		174,089
ON Semiconductor Corporation
Term Loan, 3.78%, Maturing March 31, 2023		200		201,393
Renaissance Learning, Inc.
Term Loan, 4.50%, Maturing April 9, 2021		122		121,824
Rocket Software, Inc.
Term Loan, 5.25%, Maturing October 14, 2023		200		201,250
SGS Cayman L.P.
Term Loan, 6.00%, Maturing April 23, 2021		37		36,686
SkillSoft Corporation
Term Loan, 5.84%, Maturing April 28, 2021		690		615,603
Southwire Company
Term Loan, 3.00%, Maturing February 10, 2021		393		391,689
SS&C Technologies, Inc.
Term Loan, 4.00%, Maturing July 8, 2022		39		38,930
Term Loan, 4.00%, Maturing July 8, 2022		317		319,888
SunEdison Semiconductor B.V.
Term Loan, 6.50%, Maturing May 27, 2019		115		115,058
SurveyMonkey, Inc.
Term Loan, 6.25%, Maturing February 5, 2019		95		95,008
Sutherland Global Services, Inc.
Term Loan, 6.00%, Maturing April 23, 2021		159		157,599
Uber Technologies
Term Loan, 5.00%, Maturing July 13, 2023		325		326,828
Vantiv, LLC
Term Loan, 3.25%, Maturing October 14, 2023		82		82,297
VeriFone, Inc.
Term Loan, 3.50%, Maturing July 8, 2021		489		487,324
Veritas US, Inc.
Term Loan, 6.63%, Maturing January 27, 2023		423		395,546
Vertafore, Inc.
Term Loan, 4.75%, Maturing June 30, 2023		425		427,158
Wall Street Systems Delaware, Inc.
Term Loan, 4.75%, Maturing August 23, 2023		492		493,727
Western Digital Corporation
Term Loan, 4.50%, Maturing April 29, 2023		419		424,318
Zebra Technologies Corporation
Term Loan, 4.09%, Maturing October 27, 2021		348		351,784

			$	13,014,554


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


Equipment Leasing — 0.3%
Delos Finance S.a.r.l.
Term Loan, 3.59%, Maturing March 6, 2021		425	$	428,506
Flying Fortress, Inc.
Term Loan, 3.59%, Maturing April 30, 2020		500		504,141

			$	932,647


Financial Intermediaries — 1.8%
Armor Holding II, LLC
Term Loan, 5.75%, Maturing June 26, 2020		414	$	406,088
Citco Funding, LLC
Term Loan, 4.25%, Maturing June 29, 2018		665		667,387
Clipper Acquisitions Corp.
Term Loan, 3.09%, Maturing February 6, 2020		96		96,432
Donnelley Financial Solutions, Inc.
Term Loan, 5.00%, Maturing September 30, 2023		100		100,625
First Data Corporation
Term Loan, 4.27%, Maturing July 8, 2022		525		529,302
Grosvenor Capital Management Holdings, LLP
Term Loan, 3.75%, Maturing January 4, 2021		492		489,380
Guggenheim Partners, LLC
Term Loan, 3.50%, Maturing July 21, 2023		213		213,870
Harbourvest Partners, LLC
Term Loan, 3.38%, Maturing February 4, 2021		112		111,787
LPL Holdings, Inc.
Term Loan, 4.25%, Maturing March 29, 2021		563		567,456
Medley, LLC
Term Loan, 6.50%, Maturing June 15, 2019⁽⁴⁾		41		37,799
NXT Capital, Inc.
Term Loan, 6.25%, Maturing September 4, 2018		123		123,404
Ocwen Financial Corporation
Term Loan, 5.50%, Maturing February 15, 2018		188		188,248
Outerwall, Inc.
Term Loan, 5.25%, Maturing September 27, 2023		75		75,688
Sesac Holdco II, LLC
Term Loan, 5.25%, Maturing February 8, 2019		282		282,004
Starwood Property Trust, Inc.
Term Loan, 3.50%, Maturing April 17, 2020		121		121,458
Walker & Dunlop, Inc.
Term Loan, 5.25%, Maturing December 11, 2020		120		120,764
Walter Investment Management Corp.
Term Loan, 4.75%, Maturing December 19, 2020		699		657,872

			$	4,789,564


		9		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Food Products — 1.6%
AdvancePierre Foods, Inc.
Term Loan, 4.50%, Maturing June 2, 2023			442	$	446,081
Blue Buffalo Company, Ltd.
Term Loan, 3.75%, Maturing August 8, 2019			240		241,530
Charger OpCo B.V.
Term Loan, 4.25%, Maturing July 2, 2022	EUR		56		61,948
Clearwater Seafoods Limited Partnership
Term Loan, 4.75%, Maturing June 26, 2019			157		157,268
Del Monte Foods, Inc.
Term Loan, 4.25%, Maturing February 18, 2021			122		113,154
Dole Food Company, Inc.
Term Loan, 4.56%, Maturing November 1, 2018			92		92,132
High Liner Foods Incorporated
Term Loan, 4.25%, Maturing April 24, 2021			134		133,209
JBS USA, LLC
Term Loan, 3.75%, Maturing May 25, 2018			866		866,918
Term Loan, 3.75%, Maturing September 18, 2020			291		291,000
Term Loan, 4.00%, Maturing October 30, 2022			124		124,061
Keurig Green Mountain, Inc.
Term Loan, 5.25%, Maturing March 3, 2023			170		172,205
NBTY, Inc.
Term Loan, 5.00%, Maturing May 5, 2023			698		700,956
Oak Tea, Inc.
Term Loan, 4.25%, Maturing July 2, 2022			308		308,093
Pinnacle Foods Finance, LLC
Term Loan, 3.25%, Maturing April 29, 2020			121		122,105
Term Loan, 3.39%, Maturing April 29, 2020			605		609,712

				$	4,440,372


Food Service — 1.0%
1011778 B.C. Unlimited Liability Company
Term Loan, 3.75%, Maturing December 10, 2021			913	$	917,850
Focus Brands, Inc.
Term Loan, 5.00%, Maturing October 3, 2023			75		75,735
Landry’s, Inc.
Term Loan, 4.00%, Maturing October 4, 2023			475		478,464
Manitowoc Foodservice, Inc.
Term Loan, 5.75%, Maturing March 3, 2023			159		161,459
Weight Watchers International, Inc.
Term Loan, 4.07%, Maturing April 2, 2020			1,007		774,766
Yum! Brands, Inc.
Term Loan, 3.29%, Maturing June 16, 2023			175		176,526

				$	2,584,800


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


Food / Drug Retailers — 0.9%
Albertsons, LLC
Term Loan, 4.50%, Maturing August 25, 2021		248	$	250,431
Term Loan, 4.75%, Maturing June 22, 2023		496		501,113
General Nutrition Centers, Inc.
Term Loan, 3.25%, Maturing March 4, 2019		742		729,886
Rite Aid Corporation
Term Loan - Second Lien, 5.75%, Maturing August 21, 2020		100		100,484
Supervalu, Inc.
Term Loan, 5.50%, Maturing March 21, 2019		913		916,452

			$	2,498,366


Forest Products — 0.1%
Expera Specialty Solutions, LLC
Term Loan, Maturing October 27, 2023⁽²⁾		175	$	173,250

			$	173,250


Health Care — 5.7%
ADMI Corp.
Term Loan, 5.25%, Maturing April 30, 2022		248	$	250,352
Akorn, Inc.
Term Loan, 5.25%, Maturing April 16, 2021		159		161,213
Alere, Inc.
Term Loan, 4.25%, Maturing June 18, 2022		299		298,280
Alliance Healthcare Services, Inc.
Term Loan, 4.25%, Maturing June 3, 2019		215		207,329
AmSurg Corp.
Term Loan, 3.50%, Maturing July 16, 2021		98		97,887
Auris Luxembourg III S.a.r.l.
Term Loan, 4.25%, Maturing January 15, 2022		743		747,877
Beaver-Visitec International, Inc.
Term Loan, 6.00%, Maturing August 21, 2023		150		149,625
CareCore National, LLC
Term Loan, 5.50%, Maturing March 5, 2021		585		576,926
CHG Healthcare Services, Inc.
Term Loan, 4.75%, Maturing June 7, 2023		373		375,657
Community Health Systems, Inc.
Term Loan, 4.08%, Maturing December 31, 2018		325		318,465
Term Loan, 3.75%, Maturing December 31, 2019		497		473,530
Term Loan, 4.00%, Maturing January 27, 2021		914		868,452
CPI Buyer, LLC
Term Loan, 5.50%, Maturing August 15, 2021		193		192,547
DaVita HealthCare Partners, Inc.
Term Loan, 3.50%, Maturing June 24, 2021		538		539,103


		10		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Health Care (continued)
DJO Finance, LLC
Term Loan, 4.25%, Maturing June 8, 2020		395	$	390,754
Envision Healthcare Corporation
Term Loan, 4.25%, Maturing May 25, 2018		392		392,604
Genoa, a QoL Healthcare Company, LLC
Term Loan, Maturing October 25, 2023⁽²⁾		100		100,156
Global Healthcare Exchange, LLC
Term Loan, 5.25%, Maturing August 15, 2022		198		199,739
Greatbatch Ltd.
Term Loan, 5.25%, Maturing October 27, 2022		174		171,603
Grifols Worldwide Operations USA, Inc.
Term Loan, 3.46%, Maturing February 27, 2021		804		812,419
Iasis Healthcare, LLC
Term Loan, 4.50%, Maturing May 3, 2018		307		306,109
IMS Health Incorporated
Term Loan, 3.50%, Maturing March 17, 2021		977		982,789
Indivior Finance S.a.r.l.
Term Loan, 7.00%, Maturing December 19, 2019		183		182,500
inVentiv Health, Inc.
Term Loan, 8.75%, Maturing May 15, 2018		533		534,255
Kindred Healthcare, Inc.
Term Loan, 4.25%, Maturing April 9, 2021		737		738,350
Kinetic Concepts, Inc.
Term Loan, 5.00%, Maturing November 4, 2020		907		914,008
KUEHG Corp.
Term Loan, 5.25%, Maturing August 12, 2022		198		198,743
MMM Holdings, Inc.
Term Loan, 9.75%, Maturing December 12, 2017		104		98,331
MPH Acquisition Holdings, LLC
Term Loan, 5.00%, Maturing June 7, 2023		431		436,037
MSO of Puerto Rico, Inc.
Term Loan, 9.75%, Maturing December 12, 2017		75		71,486
New Millennium Holdco, Inc.
Term Loan, 7.50%, Maturing December 21, 2020		88		56,220
Onex Carestream Finance L.P.
Term Loan, 5.00%, Maturing June 7, 2019		414		386,354
Opal Acquisition, Inc.
Term Loan, 5.00%, Maturing November 27, 2020		291		269,478
Ortho-Clinical Diagnostics, Inc.
Term Loan, 4.75%, Maturing June 30, 2021		538		525,445
PRA Holdings, Inc.
Term Loan, 4.50%, Maturing September 23, 2020		486		489,357
Quality Care Properties, Inc.
Term Loan, Maturing September 12, 2022⁽²⁾		475		475,594


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


Health Care (continued)
RadNet, Inc.
Term Loan, 4.77%, Maturing July 1, 2023			275	$	276,088
Select Medical Corporation
Term Loan, 6.00%, Maturing June 1, 2018			806		809,737
Sterigenics-Nordion Holdings, LLC
Term Loan, 4.25%, Maturing May 15, 2022			124		123,750
Tecomet, Inc.
Term Loan, 5.75%, Maturing December 5, 2021			221		219,957

				$	15,419,106


Home Furnishings — 0.5%
Serta Simmons Holdings, LLC
Term Loan, 4.25%, Maturing October 1, 2019			1,255	$	1,255,845

				$	1,255,845


Industrial Equipment — 2.4%
Apex Tool Group, LLC
Term Loan, 4.50%, Maturing January 31, 2020			535	$	527,966
Blount International, Inc.
Term Loan, 7.25%, Maturing April 12, 2023			399		404,237
Delachaux S.A.
Term Loan, 4.50%, Maturing October 28, 2021			73		70,452
Doosan Infracore International, Inc.
Term Loan, 4.50%, Maturing May 28, 2021			146		146,695
EWT Holdings III Corp.
Term Loan, 4.75%, Maturing January 15, 2021			662		663,285
Term Loan, 5.50%, Maturing January 15, 2021			100		99,998
Filtration Group Corporation
Term Loan, Maturing November 21, 2020⁽²⁾			30		30,628
Term Loan, Maturing November 21, 2020⁽²⁾			70		69,501
Gardner Denver, Inc.
Term Loan, 4.25%, Maturing July 30, 2020			340		330,349
Gates Global, Inc.
Term Loan, 4.25%, Maturing July 6, 2021			1,016		1,002,138
Generac Power Systems, Inc.
Term Loan, 3.60%, Maturing May 31, 2020			258		258,616
Husky Injection Molding Systems Ltd.
Term Loan, 4.25%, Maturing June 30, 2021			513		513,448
Milacron, LLC
Term Loan, 4.25%, Maturing September 28, 2020			215		215,791
Paladin Brands Holding, Inc.
Term Loan, 7.25%, Maturing August 16, 2019			376		338,441
Paternoster Holding IV GmbH
Term Loan, 7.13%, Maturing February 10, 2022	EUR		175		191,626


		11		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

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			785	$	787,287
Signode Industrial Group US, Inc.
Term Loan, 3.75%, Maturing May 1, 2021			141		140,607
STS Operating, Inc.
Term Loan, 4.75%, Maturing February 12, 2021			334		305,063
Tank Holding Corp.
Term Loan, 5.25%, Maturing March 16, 2022			144		140,922
Terex Corporation
Term Loan, 3.50%, Maturing August 13, 2021	EUR		294		322,840

				$	6,559,890


Insurance — 1.7%
Alliant Holdings I, Inc.
Term Loan, 4.75%, Maturing August 12, 2022			346	$	346,309
AmWINS Group, LLC
Term Loan, 4.75%, Maturing September 6, 2019			891		897,859
AssuredPartners, Inc.
Term Loan, 5.75%, Maturing October 21, 2022			149		149,994
Term Loan - Second Lien, 10.00%, Maturing October 20, 2023			125		125,781
Asurion, LLC
Term Loan, 5.00%, Maturing May 24, 2019			537		538,278
Term Loan, 5.00%, Maturing August 4, 2022			976		982,352
Term Loan - Second Lien, 8.50%, Maturing March 3, 2021			375		377,187
Cunningham Lindsey U.S., Inc.
Term Loan, 5.00%, Maturing December 10, 2019			165		139,944
Hub International Limited
Term Loan, 4.00%, Maturing October 2, 2020			509		509,563
USI, Inc.
Term Loan, 4.25%, Maturing December 27, 2019			458		458,665

				$	4,525,932


Leisure Goods / Activities / Movies — 2.3%
AMC Entertainment, Inc.
Term Loan, 4.00%, Maturing December 15, 2022			396	$	399,041
Term Loan, Maturing December 15, 2023⁽²⁾			100		99,750
Ancestry.com Operations, Inc.
Term Loan, 5.25%, Maturing October 19, 2023			375		376,359
Bombardier Recreational Products, Inc.
Term Loan, 3.75%, Maturing June 30, 2023			825		827,888
CDS U.S. Intermediate Holdings, Inc.
Term Loan, 5.00%, Maturing July 8, 2022			372		373,622


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


Leisure Goods / Activities / Movies (continued)
ClubCorp Club Operations, Inc.
Term Loan, 4.00%, Maturing December 15, 2022		350	$	351,969
Emerald Expositions Holding, Inc.
Term Loan, 4.75%, Maturing June 17, 2020		239		239,786
Kasima, LLC
Term Loan, 3.33%, Maturing May 17, 2021		90		90,299
Lindblad Expeditions, Inc.
Term Loan, 5.50%, Maturing May 8, 2021		45		45,369
Term Loan, 5.50%, Maturing May 8, 2021		350		351,606
Live Nation Entertainment, Inc.
Term Loan, 3.34%, Maturing October 26, 2023		493		493,944
LTF Merger Sub, Inc.
Term Loan, 4.25%, Maturing June 10, 2022		247		247,426
Match Group, Inc.
Term Loan, 5.50%, Maturing November 16, 2022		98		98,292
Nord Anglia Education Finance, LLC
Term Loan, 5.00%, Maturing March 31, 2021		638		642,333
Sabre, Inc.
Term Loan, 4.00%, Maturing February 19, 2019		180		181,078
SeaWorld Parks & Entertainment, Inc.
Term Loan, 3.09%, Maturing May 14, 2020		330		325,533
SRAM, LLC
Term Loan, 4.01%, Maturing April 10, 2020		305		297,691
Steinway Musical Instruments, Inc.
Term Loan, 4.75%, Maturing September 19, 2019		373		365,093
UFC Holdings, LLC
Term Loan, 5.00%, Maturing August 18, 2023		250		252,552
WMG Acquisition Corp.
Term Loan, 3.75%, Maturing July 1, 2020		131		130,672
Term Loan, Maturing October 20, 2023⁽²⁾		100		99,875

			$	6,290,178


Lodging and Casinos — 2.3%
Amaya Holdings B.V.
Term Loan, 5.00%, Maturing August 1, 2021		638	$	638,535
Term Loan - Second Lien, 8.00%, Maturing August 1, 2022		539		539,207
Boyd Gaming Corporation
Term Loan, 4.00%, Maturing August 14, 2020		30		30,662
Term Loan, 3.53%, Maturing September 15, 2023		150		151,238
Caesars Entertainment Operating Company
Term Loan, 0.00%, Maturing March 1, 2017⁽³⁾		345		382,909
CityCenter Holdings, LLC
Term Loan, 4.25%, Maturing October 16, 2020		511		515,119


		12		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Lodging and Casinos (continued)
ESH Hospitality, Inc.
Term Loan, 3.75%, Maturing August 30, 2023		250	$	251,875
Four Seasons Holdings, Inc.
Term Loan, 5.25%, Maturing June 27, 2020		96		96,846
Term Loan - Second Lien, 6.25%, Maturing December 27, 2020		500		504,062
Golden Nugget, Inc.
Term Loan, 4.50%, Maturing November 21, 2019		103		103,942
Term Loan, 4.50%, Maturing November 21, 2019		240		242,532
Hilton Worldwide Finance, LLC
Term Loan, 3.50%, Maturing October 26, 2020		78		77,952
Term Loan, 3.03%, Maturing October 25, 2023		792		797,662
La Quinta Intermediate Holdings, LLC
Term Loan, 3.75%, Maturing April 14, 2021		562		561,348
MGM Growth Properties Operating Partnership L.P.
Term Loan, 4.00%, Maturing April 25, 2023		373		374,816
Playa Resorts Holding B.V.
Term Loan, 4.00%, Maturing August 9, 2019		97		97,000
RHP Hotel Properties L.P.
Term Loan, 3.59%, Maturing January 15, 2021		122		123,161
Scientific Games International, Inc.
Term Loan, 6.00%, Maturing October 18, 2020		613		617,273

			$	6,106,139


Nonferrous Metals / Minerals — 0.7%
Arch Coal, Inc.
Term Loan, 10.00%, Maturing June 15, 2021		96	$	98,062
Dynacast International, LLC
Term Loan, 4.50%, Maturing January 28, 2022		148		148,924
Fairmount Santrol, Inc.
Term Loan, 4.50%, Maturing September 5, 2019		364		346,813
Global Brass & Copper, Inc.
Term Loan, 5.25%, Maturing July 18, 2023		150		151,781
Murray Energy Corporation
Term Loan, 9.25%, Maturing April 16, 2017		49		49,290
Term Loan, 8.25%, Maturing April 16, 2020		360		334,298
Noranda Aluminum Acquisition Corporation
Term Loan, 0.00%, Maturing February 28, 2019⁽³⁾⁽⁴⁾		91		37,663
Novelis, Inc.
Term Loan, 4.00%, Maturing June 2, 2022		494		495,848
Oxbow Carbon, LLC
Term Loan, 4.25%, Maturing July 19, 2019		19		19,070
Term Loan - Second Lien, 8.00%, Maturing January 17, 2020		150		147,000

			$	1,828,749


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


Oil and Gas — 1.3%
Ameriforge Group, Inc.
Term Loan, 5.00%, Maturing December 19, 2019		317	$	166,441
Bronco Midstream Funding, LLC
Term Loan, 5.00%, Maturing August 15, 2020		260		242,739
CITGO Holding, Inc.
Term Loan, 9.50%, Maturing May 12, 2018		152		153,450
CITGO Petroleum Corporation
Term Loan, 4.50%, Maturing July 29, 2021		196		195,020
Crestwood Holdings, LLC
Term Loan, 9.00%, Maturing June 19, 2019		163		152,878
Drillships Ocean Ventures, Inc.
Term Loan, 5.50%, Maturing July 25, 2021		45		32,232
Fieldwood Energy, LLC
Term Loan, 3.88%, Maturing October 1, 2018		196		180,464
MEG Energy Corp.
Term Loan, 3.75%, Maturing March 31, 2020		1,017		962,305
Paragon Offshore Finance Company
Term Loan, 5.25%, Maturing July 18, 2021		148		49,622
Samson Investment Company
Term Loan - Second Lien, 0.00%, Maturing September 25, 2018⁽³⁾		175		42,437
Seadrill Partners Finco, LLC
Term Loan, 4.00%, Maturing February 21, 2021		554		314,489
Sheridan Investment Partners II L.P.
Term Loan, 4.34%, Maturing December 16, 2020		28		20,455
Term Loan, 4.34%, Maturing December 16, 2020		74		54,847
Term Loan, 4.34%, Maturing December 16, 2020		533		394,279
Sheridan Production Partners I, LLC
Term Loan, 4.25%, Maturing October 1, 2019		30		23,572
Term Loan, 4.25%, Maturing October 1, 2019		50		38,591
Term Loan, 4.25%, Maturing October 1, 2019		376		291,237
Tervita Corporation
Term Loan, 7.50%, Maturing May 15, 2018		106		105,259

			$	3,420,317


Publishing — 0.9%
Ascend Learning, LLC
Term Loan, 5.50%, Maturing July 31, 2019		219	$	219,747
Getty Images, Inc.
Term Loan, 4.75%, Maturing October 18, 2019		914		775,847
Laureate Education, Inc.
Term Loan, 5.00%, Maturing June 15, 2018		486		483,380
LSC Communications, Inc.
Term Loan, 7.00%, Maturing September 26, 2022		225		223,875


		13		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Publishing (continued)
Merrill Communications, LLC
Term Loan, 6.25%, Maturing June 1, 2022		123	$	117,179
ProQuest, LLC
Term Loan, 5.75%, Maturing October 24, 2021		322		322,699
Springer Science+Business Media Deutschland GmbH
Term Loan, 4.75%, Maturing August 14, 2020		243		237,021

			$	2,379,748


Radio and Television — 1.2%
AP NMT Acquisition B.V.
Term Loan, 6.75%, Maturing August 13, 2021		98	$	88,874
CBS Radio, Inc.
Term Loan, 4.50%, Maturing October 17, 2023		250		251,680
Cumulus Media Holdings, Inc.
Term Loan, 4.25%, Maturing December 23, 2020		729		506,407
Entercom Radio, LLC
Term Loan, Maturing October 25, 2023⁽²⁾		175		176,312
Hubbard Radio, LLC
Term Loan, 4.25%, Maturing May 27, 2022		106		104,789
iHeartCommunications, Inc.
Term Loan, 8.03%, Maturing July 30, 2019		450		344,531
Lions Gate Entertainment Corp.
Term Loan, Maturing October 12, 2023⁽²⁾		150		150,438
MGOC, Inc.
Term Loan, 4.00%, Maturing July 31, 2020		239		239,574
Mission Broadcasting, Inc.
Term Loan, 3.75%, Maturing October 1, 2020		125		125,377
Nexstar Broadcasting, Inc.
Term Loan, 3.75%, Maturing October 1, 2020		142		142,179
Univision Communications, Inc.
Term Loan, 4.00%, Maturing March 1, 2020		1,123		1,125,657

			$	3,255,818


Retailers (Except Food and Drug) — 2.1%
Bass Pro Group, LLC
Term Loan, 4.00%, Maturing June 5, 2020		436	$	437,146
CDW, LLC
Term Loan, 3.00%, Maturing August 4, 2023		362		363,524
Coinamatic Canada, Inc.
Term Loan, 4.25%, Maturing May 14, 2022		37		37,014
David’s Bridal, Inc.
Term Loan, 5.00%, Maturing October 11, 2019		368		343,879


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


Retailers (Except Food and Drug) (continued)
Dollar Tree, Inc.
Term Loan, 3.00%, Maturing July 6, 2022		127	$	128,588
Evergreen Acqco 1 L.P.
Term Loan, 5.00%, Maturing July 9, 2019		368		341,099
Harbor Freight Tools USA, Inc.
Term Loan, 4.14%, Maturing August 19, 2023		474		477,451
J. Crew Group, Inc.
Term Loan, 4.00%, Maturing March 5, 2021		537		414,014
Men’s Wearhouse, Inc. (The)
Term Loan, 4.50%, Maturing June 18, 2021		147		145,677
Michaels Stores, Inc.
Term Loan, 3.75%, Maturing January 27, 2023		962		970,384
Neiman Marcus Group, Inc. (The)
Term Loan, 4.25%, Maturing October 25, 2020		553		510,070
Party City Holdings, Inc.
Term Loan, 4.20%, Maturing August 19, 2022		458		459,663
PetSmart, Inc.
Term Loan, 4.00%, Maturing March 11, 2022		911		913,972
Pier 1 Imports (U.S.), Inc.
Term Loan, 4.50%, Maturing April 30, 2021		98		86,998
Vivid Seats, Ltd.
Term Loan, 6.75%, Maturing October 7, 2022		150		148,313

			$	5,777,792


Steel — 0.4%
FMG Resources (August 2006) Pty. Ltd.
Term Loan, 3.75%, Maturing June 30, 2019		856	$	856,305
Neenah Foundry Company
Term Loan, 6.75%, Maturing April 26, 2017		76		75,332
Zekelman Industries, Inc.
Term Loan, 6.00%, Maturing June 14, 2021		128		129,506

			$	1,061,143


Surface Transport — 0.2%
Hertz Corporation (The)
Term Loan, 3.50%, Maturing June 30, 2023		200	$	201,014
Kenan Advantage Group, Inc.
Term Loan, 1.50%, Maturing January 31, 2017⁽⁵⁾		5		5,032
Term Loan, 4.00%, Maturing July 31, 2022		22		22,049
Term Loan, 4.00%, Maturing July 31, 2022		72		71,801
Stena International S.a.r.l.
Term Loan, 4.24%, Maturing March 3, 2021		268		229,917

			$	529,813


		14		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


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


Telecommunications — 1.0%
Intelsat Jackson Holdings S.A.
Term Loan, 3.75%, Maturing June 30, 2019		650	$	622,781
IPC Corp.
Term Loan, 5.50%, Maturing August 6, 2021		345		328,375
Mitel US Holdings, Inc.
Term Loan, 5.50%, Maturing April 29, 2022		134		135,642
SBA Senior Finance II, LLC
Term Loan, 3.34%, Maturing March 24, 2021		342		342,862
Syniverse Holdings, Inc.
Term Loan, 4.00%, Maturing April 23, 2019		237		217,711
Term Loan, 4.00%, Maturing April 23, 2019		328		301,748
Telesat Canada
Term Loan, 3.50%, Maturing March 28, 2019		646		647,904
Windstream Corporation
Term Loan, 3.50%, Maturing August 8, 2019		120		119,930

			$	2,716,953


Utilities — 1.4%
Calpine Construction Finance Company L.P.
Term Loan, 3.09%, Maturing May 3, 2020		194	$	192,714
Term Loan, 3.34%, Maturing January 31, 2022		73		72,188
Calpine Corporation
Term Loan, 3.59%, Maturing May 27, 2022		890		893,369
Dynegy Holdings, Inc.
Term Loan, 4.00%, Maturing April 23, 2020		1,158		1,160,534
Energy Future Intermediate Holding Co., LLC
DIP Loan, 4.25%, Maturing June 30, 2017		300		301,937
Granite Acquisition, Inc.
Term Loan, 5.00%, Maturing December 19, 2021		21		20,925
Term Loan, 5.00%, Maturing December 19, 2021		471		467,252
Invenergy Thermal Operating I, LLC
Term Loan, 6.50%, Maturing October 19, 2022		219		210,234
Lonestar Generation, LLC
Term Loan, 5.47%, Maturing February 22, 2021		98		85,743
TPF II Power, LLC
Term Loan, 5.00%, Maturing October 2, 2021		256		259,895

			$	3,664,791


Total Senior Floating-Rate Loans (identified cost $144,559,903)			$	142,812,425


Collateralized Mortgage Obligations — 26.4%


Security	Principal Amount (000’s omitted)		Value

Federal Home Loan Mortgage Corp.:
Series 2113, Class QG, 6.00%, 1/15/29	$	887	$	1,006,130
Series 2167, Class BZ, 7.00%, 6/15/29		664		767,860
Series 2182, Class ZB, 8.00%, 9/15/29		1,218		1,457,184
Series 2631, (Interest Only), Class DS, 6.565%, 6/15/33⁽⁶⁾⁽⁷⁾		1,679		305,456
Series 2770, (Interest Only), Class SH, 6.565%, 3/15/34⁽⁶⁾⁽⁷⁾		2,133		472,331
Series 2981, (Interest Only), Class CS, 6.185%, 5/15/35⁽⁶⁾⁽⁷⁾		1,187		231,291
Series 3114, (Interest Only), Class TS, 6.115%, 9/15/30⁽⁶⁾⁽⁷⁾		3,092		505,437
Series 3309, (Principal Only), Class DO, 0.00%, 4/15/37⁽⁸⁾		2,010		1,782,657
Series 3339, (Interest Only), Class JI, 6.055%, 7/15/37⁽⁶⁾⁽⁷⁾		2,417		517,729
Series 4109, (Interest Only), Class ES, 5.615%, 12/15/41⁽⁶⁾⁽⁷⁾		36		7,784
Series 4163, (Interest Only), Class GS, 5.665%, 11/15/32⁽⁶⁾⁽⁷⁾		5,247		1,193,367
Series 4169, (Interest Only), Class AS, 5.715%, 2/15/33⁽⁶⁾⁽⁷⁾		3,188		617,625
Series 4180, (Interest Only), Class GI, 3.50%, 8/15/26⁽⁷⁾		2,981		282,985
Series 4203, (Interest Only), Class QS, 5.715%, 5/15/43⁽⁶⁾⁽⁷⁾		3,280		572,403
Series 4212, (Interest Only), Class SA, 5.665%, 7/15/38⁽⁶⁾⁽⁷⁾		6,115		777,536
Series 4273, Class PU, 4.00%, 11/15/43		766		794,530
Series 4316, (Interest Only), Class JS, 5.565%, 1/15/44⁽⁶⁾⁽⁷⁾		2,278		296,071
Series 4326, Class TS, 12.073%, 4/15/44⁽⁶⁾		182		183,710
Series 4332, (Interest Only), Class KI, 4.00%, 9/15/43⁽⁷⁾		1,788		185,774
Series 4336, Class GU, 3.50%, 2/15/53		1,100		1,113,544
Series 4337, Class YT, 3.50%, 4/15/49		2,649		2,698,444
Series 4370, (Interest Only), Class IO, 3.50%, 9/15/41⁽⁷⁾		2,170		192,333
Series 4416, Class SU, 7.546%, 12/15/44⁽⁶⁾		3,078		3,192,878
Series 4452, Class ZJ, 3.00%, 11/15/44		1,319		1,282,465
Series 4478, (Principal Only), Class PO, 0.00%, 5/15/45⁽⁸⁾		1,558		1,427,079
Series 4497, (Interest Only), Class CS, 5.665%, 9/15/44⁽⁶⁾⁽⁷⁾		4,616		717,541
Series 4507, (Interest Only), Class EI, 4.00%, 8/15/44⁽⁷⁾		4,479		812,026
Series 4535, (Interest Only), Class JS, 5.565%, 11/15/43⁽⁶⁾⁽⁷⁾		6,342		732,256


		15		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


Security	Principal Amount (000’s omitted)		Value

Federal Home Loan Mortgage Corp.: (continued)
Series 4548, (Interest Only), Class JS, 5.565%, 9/15/43⁽⁶⁾⁽⁷⁾	$	5,760	$	694,953
Series 4550, Class ZT, 2.00%, 1/15/45		351		350,922
Series 4584, Class PM, 3.00%, 5/15/46		2,093		2,153,977
Series 4630, Class CZ, 3.00%, 12/15/43⁽⁹⁾		2,000		1,990,972

			$	29,317,250

Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes:
Series 2015-DNA3, Class M3, 5.234%, 4/25/28⁽¹⁰⁾	$	2,000	$	2,113,447
Series 2016-DNA1, Class M3, 6.084%, 7/25/28⁽¹⁰⁾		2,000		2,169,124

			$	4,282,571

Federal National Mortgage Association:
Series 1989-89, Class H, 9.00%, 11/25/19	$	17	$	18,208
Series 1991-122, Class N, 7.50%, 9/25/21		130		141,909
Series 1994-42, Class K, 6.50%, 4/25/24		323		356,388
Series 1997-38, Class N, 8.00%, 5/20/27		371		429,239
Series 2004-46, (Interest Only), Class SI, 5.466%, 5/25/34⁽⁶⁾⁽⁷⁾		2,139		320,397
Series 2005-17, (Interest Only), Class SA, 6.166%, 3/25/35⁽⁶⁾⁽⁷⁾		1,645		378,194
Series 2006-42, (Interest Only), Class PI, 6.056%, 6/25/36⁽⁶⁾⁽⁷⁾		2,745		557,407
Series 2006-44, (Interest Only), Class IS, 6.066%, 6/25/36⁽⁶⁾⁽⁷⁾		2,229		450,891
Series 2006-72, (Interest Only), Class GI, 6.046%, 8/25/36⁽⁶⁾⁽⁷⁾		4,049		810,560
Series 2006-8, (Principal Only), Class WQ, 0.00%, 3/25/36⁽⁸⁾		1,403		1,249,032
Series 2007-50, (Interest Only), Class LS, 5.916%, 6/25/37⁽⁶⁾⁽⁷⁾		1,586		303,471
Series 2007-74, Class AC, 5.00%, 8/25/37		2,089		2,280,659
Series 2008-26, (Interest Only), Class SA, 5.666%, 4/25/38⁽⁶⁾⁽⁷⁾		2,784		531,879
Series 2008-29, (Interest Only), Class CI, 5.00%, 9/25/35⁽⁷⁾		755		16,724
Series 2008-61, (Interest Only), Class S, 5.566%, 7/25/38⁽⁶⁾⁽⁷⁾		3,775		731,590
Series 2010-99, (Interest Only), Class NS, 6.066%, 3/25/39⁽⁶⁾⁽⁷⁾		2,412		144,776
Series 2010-109, (Interest Only), Class PS, 6.066%, 10/25/40⁽⁶⁾⁽⁷⁾		4,330		828,897
Series 2010-119, (Interest Only), Class SK, 5.466%, 4/25/40⁽⁶⁾⁽⁷⁾		491		9,740
Series 2010-124, (Interest Only), Class SJ, 5.516%, 11/25/38⁽⁶⁾⁽⁷⁾		2,512		221,690
Series 2010-147, (Interest Only), Class KS, 5.416%, 1/25/41⁽⁶⁾⁽⁷⁾		5,559		945,267


Security	Principal Amount (000’s omitted)		Value

Federal National Mortgage Association: (continued)
Series 2010-150, (Interest Only), Class GS, 6.216%, 1/25/21⁽⁶⁾⁽⁷⁾	$	2,845	$	253,250
Series 2010-151, (Interest Only), Class PI, 4.00%, 5/25/28⁽⁷⁾		1,765		13,977
Series 2011-22, (Interest Only), Class IC, 3.50%, 12/25/25⁽⁷⁾		4,609		399,344
Series 2011-49, Class NT, 6.00%, 6/25/41⁽⁶⁾		704		783,669
Series 2012-52, (Interest Only), Class AI, 3.50%, 8/25/26⁽⁷⁾		5,244		401,732
Series 2012-56, (Interest Only), Class SU, 6.216%, 8/25/26⁽⁶⁾⁽⁷⁾		1,564		122,188
Series 2012-63, (Interest Only), Class EI, 3.50%, 8/25/40⁽⁷⁾		4,845		297,844
Series 2012-103, (Interest Only), Class GS, 5.566%, 2/25/40⁽⁶⁾⁽⁷⁾		5,751		606,738
Series 2012-134, Class ZT, 2.00%, 12/25/42		1,890		1,720,993
Series 2012-150, (Interest Only), Class PS, 5.616%, 1/25/43⁽⁶⁾⁽⁷⁾		6,526		1,259,484
Series 2012-150, (Interest Only), Class SK, 5.616%, 1/25/43⁽⁶⁾⁽⁷⁾		3,636		727,447
Series 2013-23, (Interest Only), Class CS, 5.716%, 3/25/33⁽⁶⁾⁽⁷⁾		3,122		629,357
Series 2013-52, Class MD, 1.25%, 6/25/43		2,456		2,369,941
Series 2013-54, (Interest Only), Class HS, 5.766%, 10/25/41⁽⁶⁾⁽⁷⁾		2,915		383,759
Series 2013-6, Class TA, 1.50%, 1/25/43		1,976		1,939,223
Series 2014-32, (Interest Only), Class EI, 4.00%, 6/25/44⁽⁷⁾		1,399		197,956
Series 2014-36, (Interest Only), Class ID, 4.00%, 6/25/44⁽⁷⁾		1,154		140,346
Series 2014-55, (Interest Only), Class IN, 3.50%, 7/25/44⁽⁷⁾		3,964		543,909
Series 2014-72, Class CS, 8.087%, 11/25/44⁽⁶⁾		28		28,611
Series 2014-80, (Interest Only), Class BI, 3.00%, 12/25/44⁽⁷⁾		6,810		813,957
Series 2014-89, (Interest Only), Class IO, 3.50%, 1/25/45⁽⁷⁾		3,113		457,049
Series 2015-14, (Interest Only), Class KI, 3.00%, 3/25/45⁽⁷⁾		6,932		811,690
Series 2015-17, (Interest Only), Class SA, 5.666%, 11/25/43⁽⁶⁾⁽⁷⁾		5,686		689,041
Series 2015-52, (Interest Only), Class MI, 3.50%, 7/25/45⁽⁷⁾		3,801		518,148
Series 2015-57, (Interest Only), Class IO, 3.00%, 8/25/45⁽⁷⁾		16,486		1,935,416
Series 2015-74, Class SL, 2.036%, 10/25/45⁽⁶⁾		1,732		1,661,948
Series 2015-89, Class ZB, 3.00%, 5/25/54		1,419		1,406,927
Series 2015-93, (Interest Only), Class BS, 5.616%, 8/25/45⁽⁶⁾⁽⁷⁾		5,503		852,301


		16		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


Security	Principal Amount (000’s omitted)		Value

Federal National Mortgage Association: (continued)
Series 2015-95, (Interest Only), Class SB, 5.466%, 1/25/46⁽⁶⁾⁽⁷⁾	$	4,443	$	970,970
Series G-33, Class PT, 7.00%, 10/25/21		107		114,414

			$	33,778,547

Government National Mortgage Association:
Series 2011-156, Class GA, 2.00%, 12/16/41	$	744	$	705,664
Series 2013-131, Class GS, 2.973%, 6/20/43⁽⁶⁾		1,604		1,466,817
Series 2014-146, Class S, 5.362%, 10/20/44⁽⁶⁾		1		585
Series 2015-79, Class CS, 5.099%, 5/20/45⁽⁶⁾		240		241,322
Series 2016-75, Class WZ, 2.25%, 11/16/43		1,238		1,236,993

			$	3,651,381


Total Collateralized Mortgage Obligations (identified cost $73,500,165)			$	71,029,749


Commercial Mortgage-Backed Securities — 7.4%


Security	Principal Amount (000’s omitted)		Value
Citigroup Commercial Mortgage Trust
Series 2015-P1, Class D, 3.225%, 9/15/48^(11)(12)	$	4,000	$	3,126,864
COMM Mortgage Trust
Series 2014-LC17, Class D, 3.687%, 10/10/47⁽¹¹⁾		1,065		833,297
JPMBB Commercial Mortgage Securities Trust
Series 2014-C19, Class D, 4.668%, 4/15/47^(11)(12)		1,425		1,229,565
Series 2014-C21, Class D, 4.661%, 8/15/47^(11)(12)		650		546,740
Series 2014-C22, Class D, 4.56%, 9/15/47^(11)(12)		1,850		1,502,921
Series 2014-C23, Class D, 3.959%, 9/15/47^(11)(12)		850		699,633
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2011-C5, Class D, 5.394%, 8/15/46^(11)(12)		1,850		1,904,605
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2015-C23, Class D, 4.135%, 7/15/50^(11)(12)		1,500		1,211,166
UBS-Citigroup Commercial Mortgage Trust
Series 2011-C1, Class D, 6.064%, 1/10/45^(11)(12)		2,000		2,204,362
UBS Commercial Mortgage Trust
Series 2012-C1, Class D, 5.546%, 5/10/45^(11)(12)		2,000		2,044,565
Wells Fargo Commercial Mortgage Trust
Series 2010-C1, Class C, 5.612%, 11/15/43^(11)(12)		500		545,337
Series 2013-LC12, Class D, 4.297%, 7/15/46^(11)(12)		2,000		1,816,343
Series 2015-SG1, Class C, 4.471%, 12/15/47⁽¹²⁾		1,399		1,384,838
WF-RBS Commercial Mortgage Trust
Series 2014-LC14, Class D, 4.586%, 3/15/47^(11)(12)		1,150		942,390


Total Commercial Mortgage-Backed Securities (identified cost $20,395,698)			$	19,992,626


Mortgage Pass-Throughs — 14.4%


Security	Principal Amount (000’s omitted)		Value

Federal Home Loan Mortgage Corp.:
2.877%, with maturity at 2035⁽¹³⁾	$	2,233	$	2,324,677
6.00%, with various maturities to 2029		1,832		2,078,240
6.15%, with maturity at 2027		574		653,838
6.50%, with maturity at 2032		1,641		1,890,336
7.00%, with various maturities to 2036		3,054		3,603,143
7.50%, with maturity at 2024		886		997,016
8.00%, with maturity at 2034		1,271		1,513,583
8.50%, with maturity at 2031		1,057		1,247,508
9.00%, with maturity at 2031		148		177,347
9.50%, with maturity at 2022		31		33,710

			$	14,519,398

Federal National Mortgage Association:
2.464%, with maturity at 2037⁽¹³⁾	$	663	$	689,037
5.00%, with various maturities to 2040		2,933		3,272,942
5.50%, with various maturities to 2033		2,028		2,314,052
6.00%, with maturity at 2023		1,151		1,264,833
6.318%, with maturity at 2032⁽¹³⁾		898		989,113
6.50%, with various maturities to 2036		4,184		4,806,898
7.00%, with various maturities to 2037		2,016		2,311,538
7.50%, with maturity at 2035		3,144		3,692,632
8.00%, with various maturities to 2034		794		925,289
10.00%, with various maturities to 2031		175		191,991

			$	20,458,325

Government National Mortgage Association:
7.50%, with maturity at 2025	$	1,360	$	1,533,501
8.00%, with maturity at 2034		1,765		2,091,831
9.50%, with maturity at 2025		80		88,970
11.00%, with maturity at 2018		13		13,890

			$	3,728,192


Total Mortgage Pass-Throughs (identified cost $36,967,214)			$	38,705,915


Asset-Backed Securities — 1.0%


Security	Principal Amount (000’s omitted)		Value
American Homes 4 Rent
Series 2014-SFR1, Class C, 2.285%, 6/17/31^(10)(11)	$	200	$	199,122
Series 2014-SFR1, Class D, 2.635%, 6/17/31^(10)(11)		825		824,668


		17		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


Security	Principal Amount (000’s omitted)		Value

Colony American Homes
Series 2014-1A, Class C, 2.385%, 5/17/31^(10)(11)	$	760	$	760,586
Ford Credit Auto Owner Trust
Series 2014-1, Class B, 2.41%, 11/15/25⁽¹¹⁾		100		100,968
Invitation Homes Trust
Series 2013-SFR1, Class D, 2.674%, 12/17/30^(10)(11)		550		550,395
Sierra Receivables Funding Co., LLC
Series 2014-1A, Class B, 2.42%, 3/20/30⁽¹¹⁾		150		149,648
Series 2015-1A, Class B, 3.05%, 3/22/32⁽¹¹⁾		201		202,956


Total Asset-Backed Securities (identified cost $2,777,601)			$	2,788,343


U.S. Government Agency Obligations — 0.6%


Security	Principal Amount (000’s omitted)		Value
Federal Farm Credit Bank:
3.25%, 7/1/30	$	1,500	$	1,604,670


Total U.S. Government Agency Obligations (identified cost $1,470,822)			$	1,604,670


Corporate Bonds & Notes — 13.7%


Security	Principal Amount* (000’s omitted)		Value

Aerospace and Defense — 0.6%
CBC Ammo, LLC/CBC FinCo, Inc.
7.25%, 11/15/21⁽¹¹⁾		500	$	488,750
TransDigm, Inc.
6.375%, 6/15/26⁽¹¹⁾		1,000		1,029,380

			$	1,518,130


Automotive — 0.4%
Deck Chassis Acquisition, Inc.
10.00%, 6/15/23⁽¹¹⁾		1,000	$	1,042,500

			$	1,042,500


Building and Development — 0.3%
Reliance Intermediate Holdings, L.P.
6.50%, 4/1/23⁽¹¹⁾		675	$	718,875

			$	718,875


Security	Principal Amount* (000’s omitted)		Value


Business Equipment and Services — 0.4%
ServiceMaster Co., LLC (The)
7.45%, 8/15/27		1,000	$	1,065,000

			$	1,065,000


Cable and Satellite Television — 0.7%
Cablevision Systems Corp.
8.00%, 4/15/20		1,000	$	1,062,500
Cequel Communications Holdings I, LLC/Cequel Capital Corp.
5.125%, 12/15/21⁽¹¹⁾		1,000		977,500

			$	2,040,000


Commercial Services — 0.4%
CEB, Inc.
5.625%, 6/15/23⁽¹¹⁾		1,000	$	976,250

			$	976,250


Containers and Glass Products — 0.4%
Reynolds Group Holdings, Inc.
7.00%, 7/15/24⁽¹¹⁾		1,000	$	1,070,625

			$	1,070,625


Diversified Financial Services — 0.4%
Double Eagle Acquisition Sub, Inc.
7.50%, 10/1/24⁽¹¹⁾		1,000	$	1,032,500

			$	1,032,500


Drugs — 0.6%
Mallinckrodt International Finance S.A./Mallinckrodt CB, LLC
5.50%, 4/15/25⁽¹¹⁾		1,000	$	928,750
Valeant Pharmaceuticals International, Inc.
5.875%, 5/15/23⁽¹¹⁾		910		705,250

			$	1,634,000


Electric Utilities — 0.3%
NRG Yield Operating, LLC
5.00%, 9/15/26⁽¹¹⁾		1,000	$	972,500

			$	972,500


Electronics / Electrical — 0.8%
Infor (US), Inc.
6.50%, 5/15/22		1,000	$	1,040,000


		18		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


Security		Principal Amount* (000’s omitted)		Value


Electronics / Electrical (continued)
Western Digital Corp.
10.50%, 4/1/24⁽¹¹⁾			1,000	$	1,158,750

				$	2,198,750


Financial Intermediaries — 0.7%
First Data Corp.
6.75%, 11/1/20⁽¹¹⁾			163	$	169,109
7.00%, 12/1/23⁽¹¹⁾			1,000		1,053,750
Icahn Enterprises, L.P./Icahn Enterprises Finance Corp.
6.00%, 8/1/20			645		632,100

				$	1,854,959


Financial Services — 0.4%
Solera, LLC/Solera Finance, Inc.
10.50%, 3/1/24⁽¹¹⁾			1,000	$	1,122,820

				$	1,122,820


Food Products — 0.8%
Dean Foods Co.
6.50%, 3/15/23⁽¹¹⁾			1,000	$	1,067,500
Iceland Bondco PLC
4.651%, 7/15/20^(10)(11)	GBP		250		290,700
NBTY, Inc.
7.625%, 5/15/21⁽¹¹⁾			730		717,225

				$	2,075,425


Health Care — 1.8%
Alere, Inc.
6.375%, 7/1/23⁽¹¹⁾			1,000	$	1,047,500
CHS/Community Health Systems, Inc.
5.125%, 8/15/18			425		419,730
HCA Holdings, Inc.
6.25%, 2/15/21			1,000		1,081,250
HCA, Inc.
4.50%, 2/15/27			10		9,900
MPH Acquisition Holdings, LLC
7.125%, 6/1/24⁽¹¹⁾			1,000		1,072,400
Team Health, Inc.
7.25%, 12/15/23⁽¹¹⁾			1,000		1,132,500

				$	4,763,280


Security	Principal Amount* (000’s omitted)		Value


Insurance — 0.4%
USI, Inc.
7.75%, 1/15/21⁽¹¹⁾		1,000	$	1,015,000

			$	1,015,000


Internet Software & Services — 0.4%
Riverbed Technology, Inc.
8.875%, 3/1/23⁽¹¹⁾		1,010	$	1,080,700

			$	1,080,700


Lodging and Casinos — 0.1%
Caesars Entertainment Operating Co., Inc.
8.50%, 2/15/20⁽³⁾		350	$	361,375
Hilton Domestic Operating Co., Inc.
4.25%, 9/1/24⁽¹¹⁾		55		55,413

			$	416,788


Metals / Mining — 0.4%
Teck Resources, Ltd.
8.50%, 6/1/24⁽¹¹⁾		1,000	$	1,160,000

			$	1,160,000


Nonferrous Metals / Minerals — 0.6%
Eldorado Gold Corp.
6.125%, 12/15/20⁽¹¹⁾		1,000	$	1,015,000
New Gold, Inc.
6.25%, 11/15/22⁽¹¹⁾		500		507,500

			$	1,522,500


Oil and Gas — 0.4%
Sabine Pass Liquefaction, LLC
5.625%, 3/1/25		1,000	$	1,061,250

			$	1,061,250


Packaging & Containers — 0.4%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
7.25%, 5/15/24⁽¹¹⁾		1,000	$	1,060,000

			$	1,060,000


Retailers (Except Food and Drug) — 0.4%
PetSmart, Inc.
7.125%, 3/15/23⁽¹¹⁾		1,000	$	1,048,750

			$	1,048,750


		19		See Notes to Financial Statements.

Eaton Vance

Short Duration Diversified Income Fund

October 31, 2016

Portfolio of Investments — continued


Security	Principal Amount* (000’s omitted)		Value


Software and Services — 0.3%
Cengage Learning, Inc.
9.50%, 6/15/24⁽¹¹⁾		1,000	$	935,000

			$	935,000


Technology — 0.4%
Diamond 1 Finance Corp./Diamond 2 Finance Corp.
7.125%, 6/15/24⁽¹¹⁾		1,000	$	1,096,517

			$	1,096,517


Telecommunications — 0.8%
Hughes Satellite Systems Corp.
6.625%, 8/1/26⁽¹¹⁾		1,000	$	992,500
Sprint Communications, Inc.
9.00%, 11/15/18⁽¹¹⁾		1,000		1,102,500

			$	2,095,000


Utilities — 0.1%
Calpine Corp.
7.875%, 1/15/23⁽¹¹⁾		389	$	408,450