Eaton Vance Tax-Managed Diversified Equity Income Fund

Eaton Vance Tax-Managed Diversified Equity Income Fund is a closed-end equity mutual fund with a primary objective of providing current income and gains, and a secondary objective of capital appreciation. The fund invests in a diversified portfolio of both domestic and foreign common stocks, with a notable emphasis on dividend-paying companies. A distinctive feature of this fund is its strategy of writing (selling) S&P 500 Index call options on a portion of its equity holdings, which is designed to generate additional current cash flow through option premiums. To further enhance shareholder value, the fund actively manages its distributions with a tax-management focus, seeking to minimize and defer federal income taxes for its investors. Distributions are paid monthly, and the fund’s managed distribution plan often results in a portion of payouts being classified as return of capital. This approach aims to provide consistent income while addressing tax efficiency. Eaton Vance Tax-Managed Diversified Equity Income Fund plays a significant role for investors seeking diversified global equity exposure, a steady income stream, and tax-sensitive investment management within their portfolios.