Eaton Vance Short Duration Municipal Income ETF (EVSM)

The Eaton Vance Short Duration Municipal Income ETF (EVSM) is an actively managed municipal bond fund from Eaton Vance, part of Morgan Stanley Investment Management. It seeks current income exempt from regular federal income tax.

The fund invests mainly in municipal bonds issued by U.S. states, cities and other public entities, and it keeps the portfolio's average duration short. This limits its sensitivity to changes in interest rates compared with longer-term municipal funds. Holdings are primarily investment grade, though the fund may hold some lower-rated debt.

Eaton Vance's municipal team selects bonds based on credit analysis and relative value across states, sectors and maturities rather than following an index.