N-2
N-2 - USD ($) | 6 Months Ended | 12 Months Ended | |||||
Apr. 30, 2024 | Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2019 | ||
Cover [Abstract] | |||||||
Entity Central Index Key | 0001258623 | ||||||
Amendment Flag | false | ||||||
Document Type | N-CSRS | ||||||
Entity Registrant Name | Eaton Vance Senior Floating-Rate Trust | ||||||
Financial Highlights [Abstract] | |||||||
Senior Securities [Table Text Block] | Six Months Ended Year Ended October 31, 2023 2022 2021 2020 2019 Ratios/Supplemental Data Net assets applicable to common shares, end of period (000’s omitted) $380,088 $372,481 $358,405 $403,589 $497,341 $534,714 Ratios (as a percentage of average daily net assets applicable to common shares): (4)† Expenses excluding interest and fees 1.32% (5) 1.34% 1.37% 1.33% 1.32% 1.28% Interest and fee expense (6) 2.07% (5) 1.95% 0.81% 0.46% 0.78% 1.40% Total expenses 3.39% (5)(7) 3.29% (7) 2.18% (7) 1.79% 2.10% 2.68% Net investment income 11.94% (5) 11.37% 6.83% 5.05% 6.03% 6.64% Portfolio Turnover 13% (3) 24% 12% 66% 30% 28% Senior Securities: Total notes payable outstanding (in 000’s) $120,000 $110,000 $133,000 $120,000 $223,000 $218,000 Asset coverage per $1,000 of notes payable (8) $ $ $ $ $ $ Total preferred shares outstanding 3,032 3,032 3,032 3,032 3,032 3,032 Asset coverage per preferred share (9) $ $ $ $ $ $ Involuntary liquidation preference per preferred share (10) $ $ $ $ $ $ Approximate market value per preferred share (10) $ $ $ $ $ $ (1) Computed using average shares outstanding. (2) 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 Trust’s dividend reinvestment plan. (3) Not annualized. (4) Ratios do not reflect the effect of dividend payments to preferred shareholders. (5) Annualized. (6) Interest and fee expense relates to the notes payable incurred to partially redeem the Trust’s APS (see Note 8). (7) Includes a reduction by the investment adviser of a portion of its adviser fee due to the Trust’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended April 30, 2024 and the years ended October 31, 2023 and 2022). (8) Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands. (9) Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, dividing the result by the sum of the values of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 294%, 301%, 272%, 306%, 266% and 282% at April 30, 2024 and October 31, 2023, 2022, 2021, 2020 and 2019, respectively. (10) Plus accumulated and unpaid dividends. † Ratios based on net assets applicable to common shares plus preferred shares and borrowings are presented below. Ratios do not reflect the effect of dividend payments to preferred shareholders. Ratios for periods less than one year are annualized. | ||||||
General Description of Registrant [Abstract] | |||||||
Investment Objectives and Practices [Text Block] | The Trust’s primary investment objective is to provide a high level of current income. The Trust may, as a secondary objective, also seek preservation of capital to the extent consistent with its primary objective. | ||||||
Risk Factors [Table Text Block] | 11 Risks and Uncertainties Risks Associated with Foreign Investments Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country. There may be less publicly available information about foreign issuers because they may not be subject to reporting practices, requirements or regulations comparable to those to which United States companies are subject. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States. Trading in foreign markets typically involves higher expense than trading in the United States. The Trust may have difficulties enforcing its legal or contractual rights in a foreign country. Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates. Credit Risk The Trust invests primarily in below investment grade floating-rate loans, which are considered speculative because of the credit risk of their issuers. Changes in economic conditions or other circumstances are more likely to reduce the capacity of issuers of these securities to make principal and interest payments. Such companies are more likely to default on their payments of interest and principal owed than issuers of investment grade bonds. An economic downturn generally leads to a higher non-payment rate, and a loan or other debt obligation may lose significant value before a default occurs. Lower rated investments also may be subject to greater price volatility than higher rated investments. Moreover, the specific collateral used to secure a loan may decline in value or become illiquid, which would adversely affect the loan’s value. | ||||||
Latest Premium (Discount) to NAV [Percent] | [1] | 0.54% | |||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Outstanding Securities [Table Text Block] | The number of APS issued and outstanding at April 30, 2024 are as follows: APS Issued and Series A 739 Series B 763 Series C 738 Series D 792 | ||||||
Risks Associated with Foreign Investments [Member] | |||||||
General Description of Registrant [Abstract] | |||||||
Risk [Text Block] | Risks Associated with Foreign Investments Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country. There may be less publicly available information about foreign issuers because they may not be subject to reporting practices, requirements or regulations comparable to those to which United States companies are subject. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States. Trading in foreign markets typically involves higher expense than trading in the United States. The Trust may have difficulties enforcing its legal or contractual rights in a foreign country. Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates. | ||||||
Credit Risk [Member] | |||||||
General Description of Registrant [Abstract] | |||||||
Risk [Text Block] | Credit Risk The Trust invests primarily in below investment grade floating-rate loans, which are considered speculative because of the credit risk of their issuers. Changes in economic conditions or other circumstances are more likely to reduce the capacity of issuers of these securities to make principal and interest payments. Such companies are more likely to default on their payments of interest and principal owed than issuers of investment grade bonds. An economic downturn generally leads to a higher non-payment rate, and a loan or other debt obligation may lose significant value before a default occurs. Lower rated investments also may be subject to greater price volatility than higher rated investments. Moreover, the specific collateral used to secure a loan may decline in value or become illiquid, which would adversely affect the loan’s value. | ||||||
Notes Payable [Member] | |||||||
Financial Highlights [Abstract] | |||||||
Senior Securities Amount | $ 120,000,000 | $ 110,000,000 | $ 133,000,000 | $ 120,000,000 | $ 223,000,000 | $ 218,000,000 | |
Senior Securities Coverage per Unit | [2] | $ 4,800 | $ 5,076 | $ 4,265 | $ 4,995 | $ 3,570 | $ 3,801 |
Preferred Shares [Member] | |||||||
Financial Highlights [Abstract] | |||||||
Senior Securities Amount | $ 3,032 | $ 3,032 | $ 3,032 | $ 3,032 | $ 3,032 | $ 3,032 | |
Senior Securities Coverage per Unit | [3] | $ 73,545 | $ 75,134 | $ 67,924 | $ 76,531 | $ 66,612 | $ 70,501 |
Preferred Stock Liquidating Preference | [4] | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 |
Senior Securities Average Market Value per Unit | [4] | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 |
Common Shares [Member] | |||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Outstanding Security, Title [Text Block] | Common Shares | ||||||
Outstanding Security, Held [Shares] | 29,200,987 | ||||||
Series A [Member] | |||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Outstanding Security, Title [Text Block] | Series A | ||||||
Outstanding Security, Not Held [Shares] | 739 | ||||||
Series B [Member] | |||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Outstanding Security, Title [Text Block] | Series B | ||||||
Outstanding Security, Not Held [Shares] | 763 | ||||||
Series C [Member] | |||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Outstanding Security, Title [Text Block] | Series C | ||||||
Outstanding Security, Not Held [Shares] | 738 | ||||||
Series D [Member] | |||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Outstanding Security, Title [Text Block] | Series D | ||||||
Outstanding Security, Not Held [Shares] | 792 | ||||||
[1]The shares of the Fund often trade at a discount or premium to their net asset value. The discount or premium may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to https://funds.eatonvance.com/closed-end-fund-prices.php.[2]Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands.[3]Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, dividing the result by the sum of the values of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 294%, 301%, 272%, 306%, 266% and 282% at April 30, 2024 and October 31, 2023, 2022, 2021, 2020 and 2019, respectively.[4]Plus accumulated and unpaid dividends. |