Form 424B3 Eaton Vance Tax-Managed

 

 

Filed pursuant to Rule 424(b)(3)

File No. 333-284944

 

EATON VANCE TAX-MANAGED DIVERSIFIED EQUITY INCOME FUND

Supplement to Prospectus dated February 14, 2025

 

The following replaces the Financial Highlights contained in the Prospectus:

 

Selected data for a Common Share outstanding during the periods stated.

 

		Year Ended October 31,
		2025				2024				2023				2022				2021
Net asset value – Beginning of year		$	14.91			$	11.66			$	11.36			$	14.36			$	11.60
Income (Loss) From Operations
Net investment income (loss)(1)		$	(0.04	)		$	(0.02	)		$	0.06			$	0.06			$	0.05
Net realized and unrealized gain (loss)			1.97				4.37				1.21				(1.95	)			3.74
Total income (loss) from operations		$	1.93			$	4.35			$	1.27			$	(1.89	)		$	3.79
Less Distributions
From net investment income		$	—			$	—			$	(0.12	)		$	(0.05	)		$	(0.05	)
From net realized gain			(1.18	)			(1.10	)			(0.85	)			(0.97	)			(0.44	)
Tax return of capital			(0.01	)			—				—				(0.09	)			(0.54	)
Total distributions		$	(1.19	)		$	(1.10	)		$	(0.97	)		$	(1.11	)		$	(1.03	)
Premium from common shares sold through shelf offering(1)		$	0.00	(2)		$	—			$	—			$	0.00	(2)		$	0.00	(2)
Net asset value – End of year		$	15.65			$	14.91			$	11.66			$	11.36			$	14.36
Market value – End of year		$	15.83			$	14.52			$	11.01			$	12.00			$	14.61
Total Investment Return on Net Asset Value(3)			13.56	%			38.59	%			11.53	%			(13.55	)%			33.85	%
Total Investment Return on Market Value(3)			17.95	%			43.06	%			(0.39	)%			(10.24	)%			52.78	%
Ratios/Supplemental Data
Net assets, end of year (000’s omitted)		$	2,492,210			$	2,345,918			$	1,835,911			$	1,784,540			$	2,211,925
Ratios (as a percentage of average daily net assets):(4)
Total expenses			1.06	%			1.06	%			1.07	%			1.07	%			1.07	%
Net expenses			1.06	%(5)			1.06	%(5)			1.07	%(5)			1.07	%(5)			1.07	%
Net investment income (loss)			(0.28	)%			(0.15	)%			0.48	%			0.45	%			0.40	%
Portfolio Turnover			46	%			39	%			63	%			55	%			36	%

 

^{(See related footnotes.)}

		Year Ended October 31,
		2020				2019				2018				2017				2016
Net asset value – Beginning of year		$	11.87			$	11.86			$	11.96			$	11.14			$	12.01
Income (Loss) From Operations
Net investment income(1)		$	0.09			$	0.10			$	0.08			$	0.10			$	0.12
Net realized and unrealized gain			0.65				0.92				0.83				1.73				0.02
Total income from operations		$	0.74			$	1.02			$	0.91			$	1.83			$	0.14
Less Distributions
From net investment income		$	(0.09	)		$	(0.10	)		$	(0.08	)		$	(0.09	)		$	(0.09	)
From net realized gain			—				(0.55	)			(0.49	)			(0.29	)			(0.07	)
Tax return of capital			(0.92	)			(0.36	)			(0.44	)			(0.63	)			(0.85	)
Total distributions		$	(1.01	)		$	(1.01	)		$	(1.01	)		$	(1.01	)		$	(1.01	)
Premium from common shares sold through shelf offering(1)		$	0.00	(2)		$	0.00	(6)		$	—			$	—			$	—
Net asset value – End of year		$	11.60			$	11.87			$	11.86			$	11.96			$	11.14
Market value – End of year		$	10.34			$	11.92			$	11.46			$	11.64			$	10.29
Total Investment Return on Net Asset Value(3)			7.02	%			9.24	%			7.75	%			17.51	%			1.98	%
Total Investment Return on Market Value(3)			(5.01	)%			13.53	%			6.98	%			23.81	%			0.04	%
Ratios/Supplemental Data
Net assets, end of year (000’s omitted)		$	1,759,628			$	1,782,364			$	1,775,555			$	1,787,846			$	1,665,148
Ratios (as a percentage of average daily net assets):
Expenses			1.08	%			1.07	%			1.07	%			1.08	%			1.08	%
Net investment income			0.80	%			0.86	%			0.66	%			0.86	%			1.05	%
Portfolio Turnover			40	%			57	%			48	%			75	%			86	%

(1)

Computed using average shares outstanding.

 

(2)

Amount is less than $0.005.

 

(3)

Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan.

 

(4)

Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund.

 

(5)

Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund’s investment in the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (equal to less than 0.005% of average daily net assets for the year ended October 31, 2025, 2024, 2023 and 2022).

 

(6)

Amount is less than $0.0005.

 

March 11, 2026

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• 1win VIP Community Member Ilia Topuria Sets for Historic UFC Freedom 250 Main Event
• CoNetrix Named a Top Small Business for Leadership and Career Growth by Comparably
• Dr. Jose Jacob Scholarship for Future Doctors Opens 2027 Applications to Support the Next Generation of Physicians Across the United States