Shares of NextShares funds are traded in the secondary market through a broker, and may not be individually purchased or redeemed from the fund. Buyers and sellers of shares normally transact with each other, rather than with the fund. Market trading prices of NextShares are linked to the fund's next-computed net asset value (NAV) and will vary from NAV by a market-determined premium or discount, which may be zero. Buyers and sellers of NextShares will know the value of their purchases and sales after the fund's NAV is determined at the end of the trading day. Market trading prices may vary significantly from anticipated levels. NextShares do not offer investors the opportunity to buy and sell intraday based on current (versus end-of-day) determinations of fund value. NextShares trade execution prices will fluctuate based on changes in NAV. Although limit orders may be used to control trading costs, they cannot be used to control or limit trade execution prices.
As a new type of fund, NextShares do not have an operating history and may initially be available through a limited number of brokers. There can be no guarantee that an active trading market for NextShares will develop or be maintained, or that their listing will continue unchanged. Buying and selling NextShares may require payment of brokerage commissions and expose transacting shareholders to other trading costs. Frequent trading may detract from realized investment returns. The return on a shareholder's NextShares investment will be reduced if the shareholder sells shares at a greater discount or narrower premium to NAV than he or she acquired the shares. NextShares funds issue and redeem shares only in specified creation unit quantities in transactions by or through authorized participants. In such transactions, a fund issues and redeems shares in exchange for the basket of securities, other instruments and/or cash that the fund specifies each business day. The basket is not intended to be representative of the fund's current portfolio positions and may vary significantly from current positions.
No offer or solicitation to buy or sell securities or futures products of any kind, or any type of recommendation or advice, is made, given or in any manner endorsed by Interactive Brokers or any of its affiliates.
Interactive Brokers receives compensation from Eaton Vance in connection with an agreement that includes promotion of NextShares ETMFs and certain commission waivers.
|Symbol||Fund Name||Fund Description||Prospectus||Fact Sheet|
|EVSTC||Eaton Vance Stock NextShares||The Fund may invest in companies with a broad range of market capitalizations, including smaller companies. The Fund generally intends to maintain investments in all or substantially all of the market sectors represented in the S&P 500 Index.||Download||Download|
|EVLMC||Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares||A rules-based, approximately equal-weighted approach to municipal investing that seeks current income exempt from regular federal income tax. The structure is designed to provide investors with a "smart-beta", core exposure to the municipal market.||Download||Download|
|EVGBC||Eaton Vance Global Income Builder NextShares||Invests in common stocks, income instruments, preferred stocks and hybrid securities globally that the PM believe may provide attractive levels of income. The PM may also invest in common stocks that have potential to grow income and/or appreciate.||Download||Download|
Before investing in NextShares, investors should consider carefully the investment objectives, risks, charges and expenses of each fund. Prospective investors should read the prospectus carefully before investing. This and additional information can be found in the Fund's prospectus at https://funds.eatonvance.com/nextshares-documents.php.
NextShares funds issue and redeem shares only in specified creation unit quantities in transactions by or through Authorized Participants. In such transactions, a fund issues and redeems shares in exchange for the basket of securities, other instruments and/or cash that the fund specifies each business day. By transacting in kind, a NextShares fund can lower its trading costs and enhance fund tax efficiency by avoiding forced sales of securities to meet redemptions. Redemptions may be effected partially or entirely in cash when in-kind delivery is not practicable or deemed not in the best interests of shareholders. A fund's basket is not intended to be representative of the fund’s current portfolio positions and may vary significantly from current positions. As exchange-traded securities, NextShares can operate with low transfer agency expenses by utilizing the same highly efficient share processing system as used for exchange-listed stocks and ETFs.
Intraday Indicative Value (IIV) is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. No fund or its affiliates is involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.
The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.
The commission-free trades for NextShares funds must be done online via the IB Trader Workstation platform. Commission-free trades apply to all online buy and sell transactions on the NextShares funds listed above. Interactive Brokers may add or waive commissions on NextShares funds without prior notice. Click here for information regarding account minimums. All ETFs are subject to internal management fees and expenses.
An investment in NextShares funds is subject to investment risks; therefore you may lose money by investing in the Fund. There can be no assurance that the Fund will be successful in meeting its investment objective. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. Each fund is subject to management risk because it is an actively managed portfolio. There can be no guarantee that the Fund will meet its investment objectives.
A Fund concentrated in a single industry or sector is likely to present more risks than a fund that is broadly diversified over several industries or sectors. Compared to the broad market, an individual industry or sector may be more strongly affected by changes in the economic climate, broad market shifts, moves in a particular dominant stock or regulatory changes.
NextShares™ is a trademark of NextShares Solutions LLC. Used with permission.
Eaton Vance does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Eaton Vance NextShares are distributed by Foreside Fund Services, LLC
No offer or solicitation to buy or sell securities or futures products of any kind, or any type of recommendation or advice, is made, given or in any manner endorsed by Interactive Brokers LLC ("Interactive Brokers") or any of its affiliates.
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