# Eaton Vance Enhanced Equity Income Fund II

Eaton Vance Enhanced Equity Income Fund II is an Asset Manager based in Boston, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** eatonvance.com

## Regulatory record

- **Reports private funds:** No

## About

Eaton Vance launched its second Enhanced Equity Income closed-end fund in January 2005, following the original fund from the prior year. The listed vehicle invests in large-cap US equities that track the S&P 500 and writes call options on the S&P 500 Index and, to a lesser extent, the NASDAQ 100 Index. Eaton Vance Management serves as investment adviser and executes the option overlay that supports monthly distributions. The firm, acquired by Morgan Stanley in 2021, has used the structure to develop additional option-income closed-end funds with varying overwrite levels.

## Sectors

- Equity
- Fixed Income
- Liquidity
- Alternative Investments
- Digital Assets

## Questions

### How does the fund generate income above typical equity dividends?

The fund buys a portfolio of large-cap US stocks and systematically sells index call options — mainly against the S&P 500 and NASDAQ 100. The premium income from option sales is distributed to shareholders as monthly income. The trade-off is capped upside in rising markets; if the index rallies past the strike price, the fund doesn't participate in gains above that level.

### Who manages the fund's option overlay strategy?

The fund is managed by Eaton Vance Management, part of Morgan Stanley Investment Management since the 2021 acquisition. The option-writing decisions are executed by Eaton Vance's equity team, which adjusts the percentage of portfolio overwritten and the strike levels based on market volatility and the fund's distribution targets.

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Last updated: 2026-07-11T16:21:46.000Z

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