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Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV)

Financial Services | Asset Management | Boston, United States | NYSE
15.12 USD -0.13 (-0.852%) ⇩ (July 13, 2026, 4 p.m. EDT)
Short-term:★★⯪☆☆Long-term:★★⯪☆☆Dividends:★★★☆☆
Hot Take ↕ | July 11, 2026, 5:29 a.m. EDT

The most compelling aspect of this instrument is its massive 7.84% yield, which appears attractive at first glance but masks a critical structural flaw: the fund is trading at a deep discount to its net asset value (P/B of 0.97). This discount is not a margin of safety; it reflects the market's pricing of the fund's strategy—selling covered calls to generate income—which caps upside potential and exposes the portfolio to significant downside risk during volatile markets. While the recent price action shows a modest recovery from a multi-year low, the underlying business metrics tell a different story. Revenue has contracted by 8.1% year-over-year, and despite a temporary earnings bump, the long-term trajectory over the last nine years remains flat (-5.57%), failing to demonstrate the sustained growth required for a high-quality compounder. The 'deepest discount' narrative in recent headlines is likely a trap for investors seeking cheap income without understanding the capped growth mechanics of a buy-write strategy. Consequently, while the dividend is robust enough to be considered 'strong' relative to inflation, the lack of capital appreciation and the structural drag on performance prevent this from being a superior long-term investment.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
MSTL ✓0.011777
AutoTheta0.012670
AutoETS0.013808
AutoARIMA0.013808

Forecast horizon: 45 days | Selected: MSTL

Forecast Reliability
Score 58%
H-stat 3.48
Ljung-Box p 0.000
Jarque-Bera p 0.962
Excess Kurtosis 0.10
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-07-14
Last Dividend Date 2026-06-14
Revenue per Share 0.171
Market Cap 1,765,329,024
Trailing P/E 7.96
Beta 0.84
Profit Margins 1110.81%
Website https://funds.eatonvance.com/Tax-Managed-Buy-Write-Opportunities-Fund-ETV.php

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.66% 8.33% 8.73% 8.76%
Dividend History
Date Dividend Yield %
2026-06-15 0.099 0.664430
2026-05-15 0.099 0.690377
2026-04-15 0.099 0.683230
2026-03-16 0.099 0.698659
2026-02-17 0.099 0.681349
2026-01-15 0.099 0.683702
2025-12-15 0.099 0.698166
2025-11-14 0.099 0.694250
2025-10-15 0.099 0.698659
2025-09-15 0.099 0.699647
2025-08-15 0.099 0.715835
2025-07-15 0.099 0.722628
2025-06-16 0.099 0.734967
2025-05-15 0.099 0.738806
2025-04-15 0.099 0.790735
2025-03-14 0.099 0.741573
2025-02-14 0.099 0.681349
2025-01-15 0.099 0.693277
2024-12-23 0.099 0.691341
2024-11-21 0.099 0.697183
2024-10-23 0.099 0.717391
2024-09-20 0.099 0.724744
2024-08-22 0.099 0.748299
2024-07-23 0.099 0.724744
2024-06-21 0.099 0.748865
2024-05-23 0.099 0.768037
2024-04-22 0.099 0.790735
2024-03-20 0.095 0.726855
2024-02-21 0.095 0.743931
2024-01-22 0.095 0.765512
2023-12-21 0.095 0.766129
2023-11-21 0.095 0.774246
2023-10-20 0.095 0.824653
2023-09-21 0.095 0.781250
2023-08-21 0.095 0.743931
2023-07-21 0.095 0.726300
2023-06-21 0.095 0.756972
2023-05-19 0.095 0.773616
2023-04-21 0.095 0.761218
2023-03-21 0.095 0.746269
2023-02-21 0.095 0.732460
2023-01-23 0.095 0.741608
2022-12-22 0.095 0.767987
2022-11-22 0.095 0.706320
2022-10-21 0.111 0.819188
2022-09-22 0.111 0.785007
2022-08-23 0.111 0.740000
2022-07-21 0.111 0.750000
2022-06-22 0.111 0.840909
2022-05-23 0.111 0.804348
2022-04-21 0.111 0.739015
2022-03-23 0.111 0.704762
2022-02-17 0.111 0.724070
2022-01-21 0.111 0.719378
2021-12-22 0.111 0.671100
2021-11-22 0.111 0.670290
2021-10-21 0.111 0.669078
2021-09-22 0.111 0.683498
2021-08-23 0.111 0.666667
2021-07-22 0.111 0.673135
2021-06-22 0.111 0.682657
2021-05-20 0.111 0.685185
2021-04-22 0.111 0.696361
2021-03-23 0.111 0.719378
2021-02-18 0.111 0.727392
2021-01-21 0.111 0.732190
2020-12-23 0.111 0.722656
2020-11-20 0.111 0.756131
2020-10-22 0.111 0.792291
2020-09-22 0.111 0.785563
2020-08-21 0.111 0.762363
2020-07-23 0.111 0.788352
2020-06-22 0.111 0.779494
2020-05-21 0.111 0.816176
2020-04-22 0.111 0.844749
2020-03-23 0.111 1.277330
2020-02-20 0.111 0.730744
2020-01-23 0.111 0.731707
2019-12-23 0.111 0.740988
2019-11-21 0.111 0.748988
2019-10-23 0.111 0.734127
2019-09-20 0.111 0.756646
2019-08-22 0.111 0.748988
2019-07-23 0.111 0.719378
2019-06-20 0.111 0.751015
2019-05-23 0.111 0.774599
2019-04-22 0.111 0.715667
2019-03-20 0.111 0.750507
2019-02-20 0.111 0.744467
2019-01-23 0.111 0.775140
2018-12-21 0.111 0.865835
2018-11-21 0.111 0.766575
2018-10-23 0.111 0.729304
2018-09-20 0.111 0.689441
2018-08-23 0.111 0.686456
2018-07-23 0.111 0.703422
2018-06-21 0.111 0.713368
2018-05-23 0.111 0.720779
2018-04-20 0.111 0.742972
2018-03-21 0.111 0.718447
2018-02-20 0.111 0.729783
2018-01-23 0.111 0.713368
2017-12-21 0.111 0.721248
2017-11-21 0.111 0.733642
2017-10-23 0.111 0.734127
2017-09-21 0.111 0.729304
2017-08-22 0.111 0.730744
2017-07-20 0.111 0.716591
2017-06-21 0.111 0.731225
2017-05-22 0.111 0.713826
2017-04-19 0.111 0.720779
2017-03-22 0.111 0.728825
2017-02-16 0.111 0.729783
2017-01-20 0.111 0.735099
2016-12-21 0.111 0.733157
2016-11-21 0.111 0.744467
2016-10-20 0.111 0.754589
2016-09-21 0.111 0.740988
2016-08-22 0.111 0.742475
2016-07-20 0.111 0.748988
2016-06-21 0.111 0.763411
2016-05-20 0.111 0.749494
2016-04-20 0.111 0.739507
2016-03-22 0.111 0.757679
2016-02-18 0.111 0.788352
2016-01-20 0.111 0.842185
2015-12-21 0.111 0.739015
2015-11-19 0.111 0.727869
2015-10-21 0.111 0.750507
2015-09-21 0.111 0.769764
2015-08-20 0.111 0.739015
2015-07-22 0.111 0.724543
2015-06-19 0.111 0.732190
2015-05-20 0.111 0.718912
2015-04-21 0.111 0.744966
2015-03-20 0.111 0.740494
2015-02-18 0.111 0.759754
2015-01-21 0.111 0.780042
2014-12-22 0.111 0.737542
2014-11-19 0.111 0.740494
2014-10-22 0.111 0.765517
2014-09-19 0.111 0.720311
2014-08-20 0.111 0.727392
2014-07-22 0.111 0.749494
2014-06-19 0.111 0.744966
2014-05-21 0.111 0.754076
2014-04-21 0.111 0.777856
2014-03-20 0.111 0.781140
2014-02-19 0.111 0.787793
2014-01-22 0.111 0.786119
2013-12-20 0.111 0.795129
2013-11-20 0.111 0.824666
2013-10-22 0.111 0.825279
2013-09-19 0.111 0.835214
2013-08-21 0.111 0.847328
2013-07-22 0.111 0.836473
2013-06-19 0.111 0.843465
2013-05-22 0.111 0.820399
2013-04-19 0.111 0.861801
2013-03-19 0.111 0.858469
2013-02-19 0.111 0.851880
2013-01-22 0.111 0.858469
2012-12-20 0.332 2.647528
2012-09-19 0.332 2.542113
2012-06-20 0.332 2.699187
2012-03-21 0.332 2.567672
2011-12-21 0.332 2.886957
2011-09-21 0.332 2.988299
2011-06-21 0.332 2.637013
2011-03-22 0.332 2.614173
2010-12-21 0.332 2.608013
2010-09-21 0.400 2.926116
2010-06-21 0.400 2.890173
2010-03-22 0.400 2.793296
2009-12-22 0.475 3.110674
2009-09-21 0.475 3.248974
2009-06-19 0.475 3.806090
2009-03-20 0.475 4.769076
2008-12-22 0.475 4.611650
2008-09-19 0.475 3.550075
2008-06-19 0.475 2.825699
2008-03-19 0.475 3.037084
2007-12-20 0.475 2.948479
2007-09-19 0.475 2.605595
2007-06-20 0.475 2.366717
2007-03-21 0.475 2.364360
2006-12-20 0.475 2.373813
2006-09-20 0.475 2.498685
2006-06-21 0.475 2.670039
2006-03-22 0.475 2.514558
2005-12-19 0.475 2.700398
2005-09-21 0.475 2.383342
Additional Data
dividendRate 1.19
dividendYield 7.88
exDividendDate 2026-07-15
trailingAnnualDividendRate 1.192
trailingAnnualDividendYield 0.07816394
lastDividendValue 0.099
lastDividendDate 2026-06-15
dividendDate 2019-01-31

Info Dump

Attribute Value
52 Week Change 0.103649616
Address1 One Post Office Square
All Time High 20.83
All Time Low 6.89
Ask 15.4
Ask Size 100
Average Daily Volume10 Day 176,020
Average Daily Volume3 Month 170,186
Average Volume 170,186
Average Volume10Days 176,020
Beta 0.839
Bid 15.06
Bid Size 400
Book Value 15.656
City Boston
Country United States
Crypto Tradeable 0
Currency USD
Current Price 15.12
Current Ratio 0.262
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 15.3102
Day Low 15.05
Dividend Date 1,548,892,800
Dividend Rate 1.19
Dividend Yield 7.88
Earnings Growth 0.362
Earnings Quarterly Growth 0.362
Ebitda Margins 0.0
Enterprise To Revenue 88.541
Enterprise Value 1,765,301,632
Eps Trailing Twelve Months 1.9
Esg Populated 0
Ex Dividend Date 1,784,073,600
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 14.7528
Fifty Day Average Change 0.3671999
Fifty Day Average Change Percent 0.024890183
Fifty Two Week Change Percent 10.364962
Fifty Two Week High 15.3102
Fifty Two Week High Change -0.19019985
Fifty Two Week High Change Percent -0.012423081
Fifty Two Week Low 13.13
Fifty Two Week Low Change 1.9899998
Fifty Two Week Low Change Percent 0.15156129
Fifty Two Week Range 13.13 - 15.3102
Financial Currency USD
First Trade Date Milliseconds 1,119,965,400,000
Five Year Avg Dividend Yield 8.84
Full Exchange Name NYSE
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 19,937,670
Has Pre Post Market Data 1
Held Percent Insiders 0.0
Held Percent Institutions 0.18947001
Implied Shares Outstanding 116,754,569
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Language en-US
Last Dividend Date 1,781,481,600
Last Dividend Value 0.099
Last Fiscal Year End 1,767,139,200
Long Business Summary Eaton Vance Tax-Managed Buy-Write Opportunities Fund is a closed-ended equity mutual fund launched and managed by Eaton Vance Management. It is co-managed by Parametric Portfolio Associates LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund also writes call options on one or more U.S. indices on a substantial portion of the value of its common stock portfolio. It benchmarks the performance of its portfolio against the S&P 500 Index, the CBOE S&P 500 BuyWrite Index, the NASDAQ-100 Index, and the CBOE NASDAQ-100 BuyWrite Index. Eaton Vance Tax-Managed Buy-Write Opportunities Fund was formed on June 30, 2005 and is domiciled in the United States.
Long Name Eaton Vance Tax-Managed Buy-Write Opportunities Fund
Market us_market
Market Cap 1,765,329,024
Market State PRE
Max Age 86,400
Message Board Id finmb_21934596
Most Recent Quarter 1,767,139,200
Net Income To Common 221,468,752
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 1,765,329,068
Open 15.23
Operating Margins 0.01271
Payout Ratio 0.6272
Phone 617 482 8260
Pre Market Change 0.069999695
Pre Market Change Percent 0.46296096
Pre Market Price 15.19
Pre Market Time 1,784,026,809
Previous Close 15.25
Price Hint 2
Price To Book 0.9657639
Price To Sales Trailing12 Months 88.5424
Profit Margins 11.10806
Quick Ratio 0.112
Quote Source Name Delayed Quote
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change -0.13
Regular Market Change Percent -0.85246
Regular Market Day High 15.3102
Regular Market Day Low 15.05
Regular Market Day Range 15.05 - 15.3102
Regular Market Open 15.23
Regular Market Previous Close 15.25
Regular Market Price 15.12
Regular Market Time 1,783,972,803
Regular Market Volume 94,476
Return On Assets 0.00052
Return On Equity 0.123950005
Revenue Growth -0.081
Revenue Per Share 0.171
Sand P52 Week Change 0.20365608
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 116,754,568
Shares Percent Shares Out 0.0017
Shares Short 282,975
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 114,214
Short Name Eaton Vance Corporation Eaton V
Short Ratio 1.2
Source Interval 15
State MA
Symbol ETV
Total Cash 27,477
Total Cash Per Share 0.0
Total Debt 0
Total Revenue 19,937,670
Tradeable 0
Trailing Annual Dividend Rate 1.192
Trailing Annual Dividend Yield 0.07816394
Trailing Eps 1.9
Trailing P E 7.957895
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 14.42825
Two Hundred Day Average Change 0.6917496
Two Hundred Day Average Change Percent 0.047944106
Type Disp Equity
Volume 94,476
Website https://funds.eatonvance.com/Tax-Managed-Buy-Write-Opportunities-Fund-ETV.php
Zip 2,109