Eaton Vance Floating Rate Fund NCSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-04015

Eaton Vance Mutual Funds Trust

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number)

January 31

Date of Fiscal Year End

July 31, 2013

Date of Reporting Period

Item 1. Reports to Stockholders

LOGO

Parametric Global

Small-Cap Fund

Semiannual Report

July 31, 2013

LOGO

Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain regulatory changes that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The Fund has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act and is not subject to the CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator.

Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the summary prospectus and prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing. For further information, please call 1-800-262-1122.

Semiannual Report July 31, 2013

Parametric Global Small-Cap Fund

Table of Contents


Performance			2

Fund Profile			2

Endnotes and Additional Disclosures			3

Fund Expenses			4

Financial Statements			5

Officers and Trustees			23

Important Notices			24

Parametric Global Small-Cap Fund

July 31, 2013

Performance^1,2

Portfolio Managers David Stein, Ph.D. and Thomas Seto, each of Parametric Portfolio Associates LLC


% Cumulative Total Returns	Class Inception Date		Performance Inception Date		Six Months			One Year			Five Years			Since Inception
Institutional Class at NAV		12/20/2012		12/20/2012		5.66	%		—			—			10.14	%
Russell Global 2000 Index		—		12/20/2012		7.08	%		24.96	%		5.88	%		12.17	%

% Total Annual Operating Expense Ratios³														Institutional Class
Gross															1.00	%
Net															0.85

Fund Profile

Sector Allocation (% of net assets)⁴

LOGO

Geographic Allocation (% of net assets)⁴

LOGO

Top 10 Holdings (% of net assets)⁴


Enerflex, Ltd.	0.4	%
Uponor Oyj	0.3
NOF Corp.	0.3
Duerr AG	0.3
Ryman Healthcare, Ltd.	0.3
Pason Systems, Inc.	0.3
Hexpol AB	0.3
Mullen Group, Ltd.	0.3
China Steel Chemical Corp.	0.3
Isis Pharmaceuticals, Inc.	0.3
Total	3.1	%

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or offering price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance less than one year is cumulative. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are before taxes unless otherwise noted. For performance as of the most recent month end, please refer to www.eatonvance.com.


		2

Parametric Global Small-Cap Fund

July 31, 2013

Endnotes and Additional Disclosures

Russell Global 2000 Index is an unmanaged index of 2,000 companies located in the United States, and other developed and emerging markets countries. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

²	Returns are historical and are calculated by determining the percentage change in NAV with all distributions reinvested. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares.

³	Source: Fund prospectus. Net expense ratio reflects a contractual expense reimbursement that continues through 5/31/14. Without the reimbursement, performance would have been lower.

⁴	Excludes cash and cash equivalents.

Fund profile subject to change due to active management.


		3

Parametric Global Small-Cap Fund

July 31, 2013

Fund Expenses

Example: As a Fund shareholder, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases and redemption fees (if applicable); and (2) ongoing costs, including management fees; distribution and/or service fees; and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of Fund investing and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (February 1, 2013 – July 31, 2013).

Actual Expenses: The first section of the table below provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes: The second section of the table below provides information about hypothetical account values and hypothetical expenses based on the actual Fund expense ratio and an assumed rate of return of 5% per year (before expenses), which is not the actual Fund return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption fees (if applicable). Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.


	Beginning Account Value (2/1/13)		Ending Account Value (7/31/13)		Expenses Paid During Period* (2/1/13 – 7/31/13)			Annualized Expense Ratio


Actual
Institutional Class	$	1,000.00	$	1,056.60	$	4.33	**		0.85	%



Hypothetical
(5% return per year before expenses)
Institutional Class	$	1,000.00	$	1,020.60	$	4.26	**		0.85	%

Expenses are equal to the Fund’s annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on January 31, 2013.

**	Absent an allocation of certain expenses to affiliates, the expenses would be higher.


		4

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited)


Common Stocks — 97.1%


Security	Shares		Value


Australia — 1.9%
Adelaide Brighton, Ltd.		1,852	$	5,458
Ansell, Ltd.		599		9,981
Aurora Oil & Gas, Ltd.⁽¹⁾		2,288		6,636
Beach Energy, Ltd.		6,515		7,835
Cardno, Ltd.		1,217		5,981
carsales.com, Ltd.		1,058		9,458
Charter Hall Retail REIT		1,104		3,830
DUET Group		4,931		9,574
DuluxGroup, Ltd.		2,698		10,814
Energy Resources of Australia, Ltd.⁽¹⁾		3,794		4,995
Investa Office Fund		2,551		6,762
Iress, Ltd.		721		5,363
Regis Resources, Ltd.⁽¹⁾		1,971		6,280
TPG Telecom, Ltd.		3,821		12,672

			$	105,639


Austria — 1.3%
ams AG		92	$	6,487
CA Immobilien Anlagen AG⁽¹⁾		1,270		15,977
Conwert Immobilien Invest SE⁽¹⁾		1,204		12,977
Kapsch TrafficCom AG		97		4,138
RHI AG		324		10,191
Schoeller-Bleckmann Oilfield Equipment AG		102		12,025
Wienerberger AG		758		9,906

			$	71,701


Belgium — 1.1%
Befimmo SCA Sicafi		172	$	11,771
Cofinimmo		115		13,180
EVS Broadcast Equipment SA		129		9,325
Gimv NV		252		12,750
Tessenderlo Chemie NV		267		7,234
ThromboGenics NV⁽¹⁾		220		9,039

			$	63,299


Brazil — 1.3%
Abril Educacao SA		200	$	3,077
Aliansce Shopping Centers SA		500		4,611
BR Properties SA		500		4,142
Brasil Insurance Participacoes e Administracao SA		500		4,822
Brasil Pharma SA⁽¹⁾		1,900		8,245
Cia de Saneamento de Minas Gerais-COPASA		500		7,932
Equatorial Energia SA		900		7,354


Security	Shares		Value


Brazil (continued)
Fleury SA		700	$	5,953
Grendene SA		700		6,536
JHSF Participacoes SA		1,400		3,467
Mahle-Metal Leve SA Industria e Comercio		500		5,687
Marcopolo SA, PFC Shares		900		5,109
Raia Drogasil SA		500		4,230
Santos Brasil Participacoes SA		300		3,353

			$	74,518


Canada — 4.1%
Alamos Gold, Inc.		341	$	5,023
Allied Properties Real Estate Investment Trust		181		5,533
Birchcliff Energy, Ltd.⁽¹⁾		938		7,014
Bonterra Energy Corp.		270		12,928
Canfor Corp.⁽¹⁾		371		7,828
Capital Power Corp.		417		8,461
CCL Industries, Inc.		178		12,060
Cineplex, Inc.		190		6,870
Dollarama, Inc.		154		11,115
Enbridge Income Fund Holdings, Inc.		604		14,437
Enerflex, Ltd.		1,437		20,413
Freehold Royalties, Ltd.		593		13,631
Gibson Energy, Inc.		449		10,347
Imperial Metals Corp.⁽¹⁾		684		6,793
Kodiak Oil & Gas Corp.⁽¹⁾		522		5,069
MacDonald Dettwiler & Associates, Ltd.		183		13,685
Mullen Group, Ltd.		696		17,327
North West Co., Inc. (The)		352		8,170
Northland Power, Inc.		529		8,694
Paramount Resources, Ltd., Class A⁽¹⁾		312		10,599
Parkland Fuel Corp.		302		5,046
Pason Systems, Inc.		939		17,800

			$	228,843


Chile — 1.5%
Administradora de Fondos de Pensiones Provida SA		1,732	$	10,112
Banmedica SA		4,183		8,140
Besalco SA		3,333		4,054
CFR Pharmaceuticals SA		22,688		4,945
Forus SA		1,039		6,046
Inversiones Aguas Metropolitanas SA		4,857		9,178
Parque Arauco SA		3,727		7,963
Ripley Corp. SA		8,187		6,206
Salfacorp SA		2,928		2,883
Sigdo Koppers SA		2,516		4,358


		5		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Chile (continued)
Sonda SA		4,259	$	11,098
Vina Concha y Toro SA		5,444		9,853

			$	84,836


China — 2.1%
Beijing Enterprises Water Group, Ltd.		14,000	$	5,662
China Foods, Ltd.⁽¹⁾		8,000		3,134
China Gas Holdings, Ltd.		10,000		11,272
China Medical System Holdings, Ltd.		14,000		12,627
China Power International Development, Ltd.		19,000		8,032
Dah Chong Hong Holdings, Ltd.		5,000		3,782
Daphne International Holdings, Ltd.		6,000		4,290
Digital China Holdings, Ltd.		4,000		4,391
Shenguan Holdings Group, Ltd.		10,000		4,254
Sino Biopharmaceutical, Ltd.		20,000		14,533
Sinopec Kantons Holdings, Ltd.		10,000		9,108
Towngas China Co., Ltd.		11,000		10,632
Uni-President China Holdings, Ltd.		8,000		7,260
Vinda International Holdings, Ltd.		7,000		6,936
Yingde Gases Group Co.		9,500		8,629

			$	114,542


Denmark — 1.0%
D/S Norden A/S		434	$	15,876
GN Store Norden A/S		748		15,466
NKT Holding A/S		349		14,145
Sydbank A/S⁽¹⁾		438		9,797

			$	55,284


Finland — 1.7%
Amer Sports Oyj		790	$	15,682
Huhtamaki Oyj		655		12,483
Kemira Oyj		790		12,292
Konecranes Oyj		244		7,154
Outotec Oyj		340		4,125
Tieto Oyj		591		11,291
Tikkurila Oyj		516		11,336
Uponor Oyj		1,081		18,814

			$	93,177


France — 1.8%
Alten SA		168	$	6,252
Eurofins Scientific		67		14,677
Havas SA		1,085		8,208
Ingenico		191		14,271
IPSOS		159		5,649


Security	Shares		Value


France (continued)
Medica SA		311	$	6,394
Orpea		196		9,251
Rubis SCA		174		11,115
Societe d’Edition de Canal +		781		5,537
UBISOFT Entertainment⁽¹⁾		575		8,772
Virbac SA		49		9,792

			$	99,918


Germany — 2.3%
BayWa AG		140	$	6,912
Carl Zeiss Meditec AG		305		10,336
Deutsche EuroShop AG		269		11,341
Deutsche Wohnen AG		308		5,429
Dialog Semiconductor PLC⁽¹⁾		333		5,503
Duerr AG		270		18,078
Freenet AG⁽¹⁾		625		14,907
Gerry Weber International AG		239		10,694
Gildemeister AG		223		5,184
GSW Immobilien AG		180		7,300
KWS Saat AG		30		10,023
Pfeiffer Vacuum Technology AG		51		5,558
Vossloh AG		59		4,915
Wirecard AG		458		14,126

			$	130,306


Greece — 0.7%
Hellenic Telecommunications Organization SA⁽¹⁾		1,047	$	9,453
JUMBO SA⁽¹⁾		555		5,895
Motor Oil (Hellas) Corinth Refineries SA		1,587		16,062
Titan Cement Co. SA⁽¹⁾		553		10,057

			$	41,467


Hong Kong — 2.1%
Cafe De Coral Holdings, Ltd.		4,000	$	12,995
Giordano International, Ltd.		12,000		11,879
Great Eagle Holdings, Ltd.		2,000		7,580
Hutchison Telecommunications Hong Kong Holdings, Ltd.		26,000		14,818
Johnson Electric Holdings, Ltd.		15,000		8,913
Kowloon Development Co., Ltd.		6,000		7,226
SA SA International Holdings, Ltd.		12,000		11,951
SmarTone Telecommunication Holdings, Ltd.		5,000		7,964
Stella International Holdings, Ltd.		3,500		8,573
Techtronic Industries Co., Ltd.		4,500		10,980
Texwinca Holdings, Ltd.		8,000		7,814
Transport International Holdings, Ltd.		3,600		7,776

			$	118,469


		6		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Indonesia — 1.6%
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		74,000	$	7,632
Bhakti Investama Tbk PT		190,500		8,133
Bumi Serpong Damai Tbk PT		51,000		7,821
Gajah Tunggal Tbk PT		26,000		6,634
Garuda Indonesia Persero Tbk PT⁽¹⁾		90,500		4,401
Global Mediacom Tbk PT		46,500		10,389
Holcim Indonesia Tbk PT		17,500		4,467
Jasa Marga (Persero) Tbk PT		18,000		9,364
Lippo Karawaci Tbk PT		73,000		9,080
Media Nusantara Citra Tbk PT		29,500		8,889
Tower Bersama Infrastructure Tbk PT⁽¹⁾		20,500		11,363

			$	88,173


Ireland — 1.8%
Beazley PLC		1,650	$	5,541
C&C Group PLC		2,151		11,993
DCC PLC		377		15,296
Glanbia PLC		1,127		14,739
Grafton Group PLC		1,653		13,488
ICON PLC⁽¹⁾		433		16,982
Kingspan Group PLC		970		13,616
Smurfit Kappa Group PLC		434		8,777

			$	100,432


Israel — 1.3%
Gazit-Globe, Ltd.		830	$	11,293
Migdal Insurance & Financial Holdings, Ltd.		3,773		6,172
Mizrahi Tefahot Bank, Ltd.⁽¹⁾		815		8,691
Oil Refineries, Ltd.⁽¹⁾		12,316		5,284
Osem Investment, Ltd.		588		13,111
Paz Oil Co., Ltd.⁽¹⁾		77		12,513
RADWARE, Ltd.⁽¹⁾		600		8,220
Strauss Group, Ltd.		470		8,106

			$	73,390


Italy — 1.6%
Amplifon SpA		1,250	$	6,260
Ansaldo STS SpA		435		4,082
Brunello Cucinelli SpA		340		9,214
De’Longhi SpA		554		8,849
DiaSorin SpA		288		12,135
ERG SpA		683		6,648
Gemina SpA⁽¹⁾		4,996		10,418
Piaggio & C. SpA		2,211		6,178


Security	Shares		Value


Italy (continued)
Recordati SpA		1,139	$	13,483
Sorin SpA⁽¹⁾		3,432		9,351

			$	86,618


Japan — 8.7%
Aica Kogyo Co., Ltd.		600	$	11,582
Anritsu Corp.		1,000		12,547
Autobacs Seven Co., Ltd.		600		8,799
Awa Bank, Ltd. (The)		1,000		5,230
Calbee, Inc.		100		9,624
Fancl Corp.		700		8,678
FP Corp.		200		14,083
Hitachi Transport System, Ltd.		500		7,178
Hokkoku Bank, Ltd. (The)		2,000		6,769
Hokuetsu Kishu Paper Co., Ltd.		1,500		6,451
Hoshizaki Electric Co., Ltd.		400		13,907
House Foods Corp.		700		11,247
Ito En, Ltd.		400		9,372
Itoham Foods, Inc.		1,000		4,286
Japan Exchange Group, Inc.		100		9,402
Kagome Co., Ltd.		700		11,895
Kakaku.com, Inc.		200		6,923
Kaken Pharmaceutical Co., Ltd.		1,000		15,510
Kewpie Corp.		800		12,317
Kissei Pharmaceutical Co., Ltd.		500		9,702
Kobayashi Pharmaceutical Co., Ltd.		200		10,424
Kose Corp.		500		14,153
KYORIN Holdings, Inc.		300		6,542
Lion Corp.		2,000		11,240
M3, Inc.		4		11,010
Matsumotokiyoshi Holdings Co., Ltd.		100		3,014
Miraca Holdings, Inc.		300		14,467
Mochida Pharmaceutical Co., Ltd.		1,000		12,557
Musashino Bank, Ltd. (The)		300		10,656
Nichirei Corp.		1,000		4,811
Nihon Kohden Corp.		200		8,403
Nippon Kayaku Co., Ltd.		1,000		12,891
NOF Corp.		3,000		18,093
Noritz Corp.		400		6,751
NS Solutions Corp.		300		5,595
Obic Co., Ltd.		30		8,414
Otsuka Corp.		100		11,290
Point, Inc.		170		8,515
Pola Orbis Holdings, Inc.		200		7,000
Rohto Pharmaceutical Co., Ltd.		1,000		13,802


		7		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Japan (continued)
Ryohin Keikaku Co., Ltd.		100	$	8,761
Sawai Pharmaceutical Co., Ltd.		100		12,109
Shimachu Co., Ltd.		200		4,917
Sugi Holdings Co., Ltd.		200		7,765
Sumitomo Osaka Cement Co., Ltd.		2,000		6,482
Sundrug Co., Ltd.		200		8,599
T-Gaia Corp.		400		3,643
Towa Pharmaceutical Co., Ltd.		100		4,223
Tsuruha Holdings, Inc.		100		9,196
Wacoal Holdings Corp.		1,000		10,139
Xebio Co., Ltd.		200		4,193
Yoshinoya Holdings Co., Ltd.		8		9,449

			$	484,606


Malaysia — 2.3%
Alliance Financial Group Bhd		8,800	$	14,530
Berjaya Sports Toto Bhd		7,360		9,483
Boustead Holdings Bhd		5,300		8,577
Dialog Group Bhd		17,600		15,125
Genting Plantations Bhd		2,600		7,899
HAP Seng Consolidated Bhd		11,000		6,710
IGB Corp. Bhd		6,500		5,072
KLCC Property Holdings Bhd		3,300		6,673
KPJ Healthcare Bhd		6,100		12,393
Kulim (Malaysia) Bhd		4,500		4,940
Lafarge Malayan Cement Bhd		2,700		8,599
Malaysia Airports Holdings Bhd		3,600		7,481
Media Prima Bhd		8,100		6,777
Oriental Holdings Bhd		3,700		11,036

			$	125,295


Mexico — 1.4%
Banregio Grupo Financiero SAB de CV		2,100	$	12,707
Bolsa Mexicana de Valores SAB de CV		2,600		6,980
Empresas ICA SAB de CV⁽¹⁾		2,300		4,829
Fibra Uno Administracion SA de CV		2,200		7,027
Genomma Lab Internacional SA de CV⁽¹⁾		3,600		8,439
Grupo Aeroportuario del Pacifico SAB de CV, Class B		2,200		11,485
Grupo Aeroportuario del Sureste SAB de CV, Class B		900		10,675
Grupo Simec SA de CV, Series B⁽¹⁾		1,300		5,127
Industrias CH SAB de CV, Series B⁽¹⁾		1,300		8,334
TV Azteca SAB de CV, Series CPO		6,000		2,842

			$	78,445


Security	Shares		Value


Netherlands — 1.7%
Aalberts Industries NV		653	$	16,455
Arcadis NV		537		13,935
ASM International NV		168		5,290
Brunel International NV		135		6,513
Eurocommercial Properties NV		156		5,936
InterXion Holding NV⁽¹⁾		472		11,880
TKH Group NV		460		12,670
Unit4 NV		472		15,971
Wereldhave NV		80		5,656

			$	94,306


New Zealand — 1.1%
Fisher & Paykel Healthcare Corp., Ltd.		5,269	$	14,635
Ryman Healthcare, Ltd.		3,176		18,028
Sky Network Television, Ltd.		2,378		10,165
SKYCITY Entertainment Group, Ltd.		3,057		10,221
Trade Me, Ltd.		1,790		6,830

			$	59,879


Norway — 1.3%
Atea ASA		708	$	7,442
Cermaq ASA		543		10,000
Det Norske Oljeselskap ASA⁽¹⁾		652		9,544
DNO International ASA⁽¹⁾		4,903		10,603
Leroey Seafood Group ASA		225		5,992
Nordic American Tankers, Ltd.		661		6,266
SpareBank 1 SR-Bank ASA		517		4,373
Tomra Systems ASA		1,323		12,086
Wilh. Wilhelmsen ASA		926		7,481

			$	73,787


Poland — 0.8%
Asseco Poland SA		734	$	10,466
Bank Millennium SA⁽¹⁾		4,206		8,163
Grupa Lotos SA⁽¹⁾		618		6,374
LPP SA		5		10,935
Lubelski Wegiel Bogdanka SA⁽¹⁾		272		8,957

			$	44,895


Portugal — 0.7%
Banco Comercial Portugues SA⁽¹⁾		93,762	$	11,697
Sonae		12,647		13,112
Zon Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA		2,787		16,302

			$	41,111


		8		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Russia — 0.4%
Acron JSC		130	$	4,211
CTC Media, Inc.		871		9,668
Etalon Group, Ltd. GDR⁽¹⁾⁽²⁾		1,138		4,541
OAO OGK-2⁽¹⁾		525,390		4,361

			$	22,781


Singapore — 2.2%
ARA Asset Management, Ltd.		4,400	$	6,364
Ascott Residence Trust		8,000		7,895
CDL Hospitality Trusts		4,000		5,234
Hyflux, Ltd.		6,000		6,161
Keppel REIT		8,000		7,999
M1, Ltd.		4,000		10,161
Mapletree Commercial Trust		11,000		10,289
Mapletree Industrial Trust		11,000		11,670
Mapletree Logistics Trust		12,000		10,060
Singapore Land, Ltd.		1,000		7,179
Singapore Post, Ltd.		12,000		12,408
Starhill Global REIT		17,000		10,969
Suntec REIT		2,000		2,500
Venture Corp., Ltd.		1,000		5,760
Wheelock Properties, Ltd.		5,000		7,191

			$	121,840


South Africa — 1.6%
Adcock Ingram Holdings, Ltd.		1,210	$	8,292
AECI, Ltd.		1,107		13,060
AVI, Ltd.		1,339		7,804
DataTec, Ltd.		1,003		5,743
Illovo Sugar, Ltd.		1,950		6,451
Nampak, Ltd.		3,177		10,278
Pick’n Pay Holdings, Ltd.		2,600		4,631
Pioneer Foods, Ltd.		834		6,788
Reunert, Ltd.		684		4,635
Royal Bafokeng Platinum, Ltd.⁽¹⁾		864		4,435
Spar Group, Ltd. (The)		533		6,191
Sun International, Ltd.		535		5,302
Tongaat-Hulett		392		5,018

			$	88,628


South Korea — 2.4%
AMOREPACIFIC Group, Inc.		25	$	8,639
Cheil Worldwide, Inc.⁽¹⁾		380		8,709
Daum Communications Corp.		107		8,348
Grand Korea Leisure Co., Ltd.		210		5,980


Security	Shares		Value


South Korea (continued)
Green Cross Corp.		63	$	7,346
GS Retail Co., Ltd.		220		6,603
Hotel Shilla Co., Ltd.		210		12,431
Hyundai Greenfood Co., Ltd.		400		6,317
Hyundai Home Shopping Network Corp.		65		9,804
Korean Reinsurance Co.		600		5,936
Lock & Lock Co., Ltd.		270		5,714
Lotte Chilsung Beverage Co., Ltd.		5		6,550
Nong Shim Co., Ltd.		25		5,793
ORION Corp.		7		6,356
Paradise Co., Ltd.		132		2,650
SK Broadband Co., Ltd.⁽¹⁾		1,803		8,584
SK Chemicals Co., Ltd.		155		5,903
Tongyang Life Insurance		630		6,389
Young Poong Corp.		6		8,244

			$	136,296


Spain — 1.5%
Almirall SA		611	$	8,024
Antena 3 de Television SA		1,154		12,039
Construcciones y Auxiliar de Ferrocarriles SA		18		7,784
Duro Felguera SA		977		6,327
Ence Energia y Celulosa SA		3,902		12,610
Grupo Catalana Occidente SA		462		12,022
Jazztel PLC⁽¹⁾		1,602		14,549
Viscofan SA		231		11,894

			$	85,249


Sweden — 1.9%
AarhusKarlshamn AB		146	$	8,386
Axfood AB		305		14,195
Axis Communications AB		299		8,520
Clas Ohlson AB, Class B		452		6,497
Hexpol AB		240		17,592
Hufvudstaden AB, Class A		640		8,126
Loomis AB, Class B		628		13,466
Mekonomen AB		97		2,973
Saab AB, Class B		562		10,155
Swedish Orphan Biovitrum AB⁽¹⁾		1,121		8,406
Wallenstam AB, Class B		616		8,513

			$	106,829


Switzerland — 1.7%
Burckhardt Compression Holdings AG		36	$	14,401
Flughafen Zuerich AG		31		16,767


		9		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Switzerland (continued)
Forbo Holding AG⁽¹⁾		17	$	12,277
Kaba Holding AG⁽¹⁾		30		12,022
Kuoni Reisen Holding AG⁽¹⁾		21		7,566
Mobimo Holding AG⁽¹⁾		54		11,341
Temenos Group AG⁽¹⁾		174		4,557
Vontobel Holding AG		378		13,385

			$	92,316


Taiwan — 3.0%
Advantech Co., Ltd.		3,000	$	14,503
Chicony Electronics Co., Ltd.		3,030		7,260
China Petrochemical Development Corp.		10,000		5,118
China Steel Chemical Corp.		3,000		17,058
CTCI Corp.		5,000		8,991
Feng Hsin Iron & Steel Co., Ltd.		7,000		12,332
Formosa Taffeta Co., Ltd.		14,000		13,110
Giant Manufacturing Co., Ltd.		2,000		15,120
Oriental Union Chemical Corp.		2,000		1,956
Phison Electronics Corp.		1,000		7,454
Realtek Semiconductor Corp.		3,000		7,166
ScinoPharm Taiwan, Ltd.		2,000		5,685
Senao International Co., Ltd.		2,000		6,699
Standard Foods Corp.		3,450		10,425
Teco Electric & Machinery Co., Ltd.		8,000		8,714
Transcend Information, Inc.		2,000		5,801
TSRC Corp.		4,000		7,252
USI Corp.		7,000		5,001
Vanguard International Semiconductor Corp.		5,000		4,991

			$	164,636


Thailand — 1.8%
Bangchak Petroleum PCL⁽³⁾		5,600	$	6,179
Berli Jucker PCL⁽³⁾		4,500		6,210
Central Pattana PCL⁽³⁾		7,400		10,177
Coastal Energy Co.⁽¹⁾		252		3,499
Delta Electronics (Thailand) PCL⁽³⁾		5,800		8,316
Electricity Generating PCL⁽³⁾		2,500		10,865
Robinson Department Store PCL⁽³⁾		6,100		11,005
Siam City Cement PCL⁽³⁾		800		10,925
Siam Makro PCL⁽³⁾		500		12,402
Thai Tap Water Supply Co., Ltd.⁽³⁾		20,700		7,144
Thai Union Frozen Products PCL⁽³⁾		3,100		5,573
True Corp. PCL⁽¹⁾⁽³⁾		24,400		6,110

			$	98,405


Security	Shares		Value


Turkey — 1.1%
Aselsan Elektronik Sanayi Ve Ticaret AS		1,359	$	6,171
Asya Katilim Bankasi AS⁽¹⁾		4,925		4,948
Aygaz AS		1,376		6,276
Dogan Sirketler Grubu Holding AS⁽¹⁾		3,365		1,645
Petkim Petrokimya Holding AS⁽¹⁾		4,991		6,957
TAV Havalimanlari Holding AS		1,524		9,525
Tekfen Holding AS		1,505		4,751
Tofas Turk Otomobil Fabrikasi AS		1,218		8,048
Turk Traktor ve Ziraat Makineleri AS		222		6,918
Yazicilar Holding AS		694		7,987

			$	63,226


United Kingdom — 5.2%
Abcam PLC		1,181	$	8,499
Aveva Group PLC		248		9,088
AZ Electronic Materials SA		1,082		5,032
Berkeley Group Holdings PLC		215		7,385
Booker Group PLC		5,528		11,109
BTG PLC⁽¹⁾		1,336		7,705
Capital & Counties Properties PLC		1,928		10,605
De La Rue PLC		784		11,784
Domino’s Pizza Group PLC		751		6,520
Dunelm Group PLC		551		8,257
Elementis PLC		1,668		6,356
EnQuest PLC⁽¹⁾		7,893		14,866
Fidessa Group PLC		343		10,448
Filtrona PLC		1,065		12,564
Genus PLC		390		8,162
Halfords Group PLC		1,065		5,954
Hikma Pharmaceuticals PLC		585		9,885
Hunting PLC		682		8,579
Jardine Lloyd Thompson Group PLC		485		6,595
Lancashire Holdings, Ltd.		896		10,987
Micro Focus International PLC		872		10,542
N Brown Group PLC		997		7,848
Rightmove PLC		299		11,058
Rotork PLC		117		4,721
Shaftesbury PLC		439		4,221
Soco International PLC⁽¹⁾		1,980		11,074
Stolt-Nielsen, Ltd.		403		9,398
Telecity Group PLC		770		10,403
Telecom Plus PLC		413		8,289
Ultra Electronics Holdings PLC		486		13,421
Victrex PLC		227		5,209
WH Smith PLC		1,117		13,218

			$	289,782


		10		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


United States — 27.1%
ACI Worldwide, Inc.⁽¹⁾		141	$	6,676
Acorda Therapeutics, Inc.⁽¹⁾		111		4,215
Alaska Air Group, Inc.⁽¹⁾		259		15,843
Alkermes PLC⁽¹⁾		347		11,652
Allegiant Travel Co.		139		13,536
ALLETE, Inc.		236		12,654
American Campus Communities, Inc.		212		8,143
Anworth Mortgage Asset Corp.		2,656		12,908
ARRIS Group, Inc.⁽¹⁾		460		6,918
Aspen Technology, Inc.⁽¹⁾		272		8,851
Athenahealth, Inc.⁽¹⁾		63		7,053
Avista Corp.		353		10,159
Balchem Corp.		168		8,360
BJ’s Restaurants, Inc.⁽¹⁾		171		6,094
Black Hills Corp.		297		15,756
Blackbaud, Inc.		267		9,369
Boston Beer Co., Inc. (The), Class A⁽¹⁾		55		9,844
Bristow Group, Inc.		178		12,106
Buckle, Inc. (The)		103		5,766
Buffalo Wild Wings, Inc.⁽¹⁾		53		5,490
Cabot Microelectronics Corp.⁽¹⁾		174		6,435
CACI International, Inc., Class A⁽¹⁾		123		8,167
Calgon Carbon Corp.⁽¹⁾		468		8,391
Capstead Mortgage Corp.		766		9,054
Casey’s General Stores, Inc.		116		7,683
Cheesecake Factory, Inc. (The)		179		7,597
Chemed Corp.		63		4,447
Children’s Place Retail Stores, Inc. (The)⁽¹⁾		177		9,565
CLARCOR, Inc.		298		16,384
Cleco Corp.		226		10,963
Cloud Peak Energy, Inc.⁽¹⁾		541		8,672
Cogent Communications Group, Inc.		170		4,865
CommVault Systems, Inc.⁽¹⁾		113		9,541
Contango Oil & Gas Co.		155		5,992
Convergys Corp.		361		6,834
Cornerstone OnDemand, Inc.⁽¹⁾		108		4,756
Cracker Barrel Old Country Store, Inc.		93		9,105
Cubist Pharmaceuticals, Inc.⁽¹⁾		219		13,650
CYS Investments, Inc.		918		7,619
Delek US Holdings, Inc.		269		8,137
Dril-Quip, Inc.⁽¹⁾		90		8,182
Eagle Materials, Inc.		167		11,269
El Paso Electric Co.		294		11,104
Energy XXI Bermuda, Ltd.		226		6,068
Finish Line, Inc. (The), Class A		255		5,676
First Financial Bankshares, Inc.		109		6,720


Security	Shares		Value


United States (continued)
Forum Energy Technologies, Inc.⁽¹⁾		425	$	12,274
GNC Holdings, Inc., Class A		223		11,770
Government Properties Income Trust		229		5,787
Gulf Coast Ultra Deep Royalty Trust⁽¹⁾		835		1,753
GulfMark Offshore, Inc., Class A		164		8,077
H.B. Fuller Co.		128		5,139
Haemonetics Corp.⁽¹⁾		260		10,977
Hain Celestial Group, Inc. (The)⁽¹⁾		153		11,163
Hatteras Financial Corp.		385		7,735
Heartland Express, Inc.		469		6,904
HeartWare International, Inc.⁽¹⁾		112		10,351
Helen of Troy, Ltd.⁽¹⁾		144		6,117
Hibbett Sports, Inc.⁽¹⁾		111		6,510
Hillenbrand, Inc.		197		4,884
Hittite Microwave Corp.⁽¹⁾		97		6,061
HMS Holdings Corp.⁽¹⁾		320		7,741
HSN, Inc.		168		10,090
Hyster-Yale Materials Handling, Inc.		90		5,851
IBERIABANK Corp.		138		8,114
IDACORP, Inc.		291		15,356
Investors Bancorp, Inc.		515		11,433
Isis Pharmaceuticals, Inc.⁽¹⁾		589		16,993
J&J Snack Foods Corp.		95		7,570
j2 Global, Inc.		311		14,234
Jazz Pharmaceuticals PLC⁽¹⁾		114		8,608
JoS. A. Bank Clothiers, Inc.⁽¹⁾		137		5,598
Kaydon Corp.		227		6,601
Lancaster Colony Corp.		151		12,538
Louisiana-Pacific Corp.⁽¹⁾		446		7,252
Lumber Liquidators Holdings, Inc.⁽¹⁾		138		13,361
Magellan Health Services, Inc.⁽¹⁾		142		8,115
ManTech International Corp., Class A		190		5,613
Markel Corp.⁽¹⁾		8		4,240
MAXIMUS, Inc.		372		13,991
Medicines Co. (The)⁽¹⁾		366		11,309
Mentor Graphics Corp.		364		7,473
MFA Financial, Inc.		1,138		9,081
MGE Energy, Inc.		241		14,149
Minerals Technologies, Inc.		155		7,130
Monro Muffler Brake, Inc.		242		10,408
Montpelier Re Holdings, Ltd.		555		14,991
Mueller Industries, Inc.		215		11,801
MWI Veterinary Supply, Inc.⁽¹⁾		80		11,374
National Health Investors, Inc.		156		9,764
National Retail Properties, Inc.		204		7,138
New Jersey Resources Corp.		216		9,668


		11		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


United States (continued)
NewMarket Corp.		23	$	6,269
Northwest Bancshares, Inc.		836		11,554
Northwest Natural Gas Co.		205		9,008
NorthWestern Corp.		377		15,909
Nu Skin Enterprises, Inc., Class A		132		11,040
NxStage Medical, Inc.⁽¹⁾		442		5,728
Ocwen Financial Corp.⁽¹⁾		252		12,000
Olin Corp.		294		7,174
Owens & Minor, Inc.		255		9,170
PDL BioPharma, Inc.		1,196		9,712
Piedmont Natural Gas Co., Inc.		304		10,503
Plantronics, Inc.		191		8,880
Platinum Underwriters Holdings, Ltd.		132		7,668
PNM Resources, Inc.		484		11,364
Portland General Electric Co.		361		11,444
Post Properties, Inc.		155		7,211
Primerica, Inc.		347		14,241
ProAssurance Corp.		232		12,419
RBC Bearings, Inc.⁽¹⁾		97		5,321
Resolute Energy Corp.⁽¹⁾		714		5,976
RLI Corp.		160		13,206
Rosetta Resources, Inc.⁽¹⁾		134		6,112
Salix Pharmaceuticals, Ltd.⁽¹⁾		80		5,912
Sanchez Energy Corp.⁽¹⁾		218		5,156
Sanderson Farms, Inc.		190		13,422
Saul Centers, Inc.		131		5,945
Schweitzer-Mauduit International, Inc.		269		14,564
Seaboard Corp.		3		8,460
Seattle Genetics, Inc.⁽¹⁾		340		13,777
SemGroup Corp., Class A		269		15,182
Sensient Technologies Corp.		197		8,670
Signature Bank⁽¹⁾		123		11,261
Six Flags Entertainment Corp.		198		7,284
Snyders-Lance, Inc.		250		7,912
Solar Capital, Ltd.		330		7,270
SolarWinds, Inc.⁽¹⁾		155		5,501
South Jersey Industries, Inc.		176		10,754
Southwest Gas Corp.		274		13,601
Sovran Self Storage, Inc.		123		8,499
Spirit Airlines, Inc.⁽¹⁾		372		12,295
SS&C Technologies Holdings, Inc.⁽¹⁾		240		8,587
Starwood Property Trust, Inc.		392		9,957
STERIS Corp.		177		7,969
Synaptics, Inc.⁽¹⁾		211		8,440
Take-Two Interactive Software, Inc.⁽¹⁾		473		8,292
Tanger Factory Outlet Centers		287		9,307


Security	Shares		Value


United States (continued)
Targa Resources Corp.		207	$	14,111
Teledyne Technologies, Inc.⁽¹⁾		189		15,152
Tennant Co.		189		9,752
TiVo, Inc.⁽¹⁾		471		5,205
Tootsie Roll Industries, Inc.		229		7,754
TreeHouse Foods, Inc.⁽¹⁾		151		10,719
Tyler Technologies, Inc.⁽¹⁾		74		5,522
UIL Holdings Corp.		264		10,782
Ultimate Software Group, Inc.⁽¹⁾		86		11,636
United Natural Foods, Inc.⁽¹⁾		139		8,145
Universal Corp.		121		7,417
UNS Energy Corp.		236		12,001
ValueClick, Inc.⁽¹⁾		302		7,381
Vector Group, Ltd.		836		13,919
ViaSat, Inc.⁽¹⁾		101		6,746
Vitamin Shoppe, Inc.⁽¹⁾		105		5,043
Volcano Corp.⁽¹⁾		278		5,552
Watsco, Inc.		124		11,575
Weis Markets, Inc.		197		9,893
West Pharmaceutical Services, Inc.		143		10,548
Westamerica Bancorporation		216		10,366
Western Refining, Inc.		423		12,745
WGL Holdings, Inc.		239		10,987
Wolverine World Wide, Inc.		86		4,946
World Fuel Services Corp.		230		8,910

			$	1,508,089


Total Common Stocks (identified cost $5,017,954)			$	5,411,013



Equity-Linked Securities⁽⁴⁾⁽⁵⁾ — 1.6%


Security	Maturity Date		Shares		Value


India — 1.6%
Apollo Hospitals Enterprises Ltd.		11/2/16		500	$	7,693
Bajai Holdings and Investment, Ltd.		7/20/17		324		4,369
Britannia Industries, Ltd.		10/17/17		656		7,521
Castrol India, Ltd.		10/17/17		1,703		8,796
Eicher Motors, Ltd.		4/17/18		100		5,728
GlaxoSmithKline Consumer Healthcare		9/7/16		135		10,336
Marico, Ltd.		10/17/17		2,500		8,587
Petronet LNG, Ltd.		10/17/17		3,000		5,700
Piramal Enterprises, Ltd.		10/9/14		950		8,659
Shree Cement, Ltd.		7/20/17		125		8,928
Tata Chemicals Ltd.		6/30/16		939		3,981


		12		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued

Security

Maturity
Date

Shares

Value

India (continued)

Tata Communications, Ltd.

10/17/17

1,442

3,490

United Phosphorus, Ltd.

7/20/17

2,617

5,470

Total Equity-Linked Securities
(identified cost $103,184)

89,258



Investment Funds — 0.0%⁽⁶⁾


Security	Shares		Value


Australia — 0.0%⁽⁶⁾
Australian Infrastructure Fund		1,502	$	17


Total Investment Funds (identified cost $4,833)			$	17


Short-Term Investments — 0.5%
Description	Interest (000’s omitted)		Value

Eaton Vance Cash Reserves Fund, LLC, 0.10%⁽⁷⁾	$	29	$	28,936


Total Short-Term Investments (identified cost $28,936)			$	28,936


Total Investments — 99.2% (identified cost $5,154,907)			$	5,529,224


Other Assets, Less Liabilities — 0.8%			$	42,432


Net Assets — 100.0%			$	5,571,656

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.


GDR	–	Global Depositary Receipt
PCL	–	Public Company Ltd.
PFC Shares	–	Preference Shares
REIT	–	Real Estate Investment Trust

⁽¹⁾	Non-income producing security.

⁽²⁾

Security exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At July 31, 2013, the aggregate value of these securities is $4,541 or 0.1% of the Fund’s net assets.

⁽³⁾	Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits.

⁽⁴⁾	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain

transactions (normally to qualified institutional buyers) and remain exempt from registration. At July 31, 2013, the aggregate value of these securities is $89,258 or 1.6% of the Fund’s net assets.

⁽⁵⁾	Security whose performance, including redemption at maturity, is linked to the price of the underlying equity security. The investment is subject to credit risk of the issuing financial institution (JPMorgan Chase) in addition to the market risk of the underlying security.

⁽⁶⁾	Amount is less than 0.05%.

⁽⁷⁾	Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of July 31, 2013.


Currency Concentration of Portfolio


Currency	Percentage of Net Assets			Value
United States Dollar		30.5	%	$	1,697,481
Euro		15.3			851,398
Japanese Yen		8.7			484,606
British Pound Sterling		5.4			301,221
Hong Kong Dollar		4.1			233,011
Canadian Dollar		4.1			227,273
New Taiwan Dollar		3.0			164,636
South Korean Won		2.4			136,296
Malaysian Ringgit		2.3			125,295
Singapore Dollar		2.2			121,840
Swedish Krona		1.9			106,829
Australian Dollar		1.9			105,656
Swiss Franc		1.7			98,803
Thai Baht		1.7			94,906
South African Rand		1.6			88,628
Indonesian Rupiah		1.6			88,173
Chilean Peso		1.5			84,836
Mexican Peso		1.4			78,445
Norwegian Krone		1.4			76,919
Brazilian Real		1.3			74,518
Israeli Shekel		1.2			65,170
New Turkish Lira		1.1			63,226
New Zealand Dollar		1.1			59,879
Other currency, less than 1% each		1.8			100,179

Total Investments		99.2	%	$	5,529,224


		13		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Sector Classification of Portfolio


Sector	Percentage of Net Assets			Value
Financials		16.2	%	$	901,696
Industrials		13.3			740,542
Consumer Discretionary		12.8			715,799
Health Care		11.1			618,022
Consumer Staples		10.3			574,793
Information Technology		9.9			553,891
Materials		8.7			481,807
Energy		7.9			441,111
Utilities		6.4			357,164
Telecommunication Services		2.1			115,446
Short-Term Investments		0.5			28,936
Investment Funds		0.0	⁽¹⁾		17

Total Investments		99.2	%	$	5,529,224

⁽¹⁾	Amount is less than 0.05%.


		14		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Statement of Assets and Liabilities (Unaudited)


Assets	July 31, 2013
Unaffiliated investments, at value (identified cost, $5,125,971)	$	5,500,288
Affiliated investment, at value (identified cost, $28,936)		28,936
Cash		281
Foreign currency, at value (identified cost, $16,719)		16,577
Dividends receivable		9,231
Interest receivable from affiliated investment		3
Receivable for investments sold		30,400
Tax reclaims receivable		1,355
Receivable from affiliates		19,943
Total assets	$	5,607,014

Liabilities
Payable to affiliate:
Investment adviser and administration fee	$	3,279
Accrued expenses		32,079
Total liabilities	$	35,358
Net Assets	$	5,571,656

Sources of Net Assets
Paid-in capital	$	5,042,134
Accumulated net realized gain		64,712
Accumulated undistributed net investment income		90,644
Net unrealized appreciation		374,166
Net Assets	$	5,571,656

Institutional Class
Net Assets	$	5,571,656
Shares Outstanding		506,165
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	11.01


		15		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Statement of Operations (Unaudited)


Investment Income	Six Months Ended July 31, 2013
Dividends (net of foreign taxes, $9,390)	$	88,005
Interest allocated from affiliated investment		12
Expenses allocated from affiliated investment		(1	)
Total investment income	$	88,016

Expenses
Investment adviser and administration fee	$	18,803
Trustees’ fees and expenses		356
Custodian fee		37,622
Transfer and dividend disbursing agent fees		143
Legal and accounting services		15,548
Printing and postage		12,760
Registration fees		12,206
Miscellaneous		1,719
Total expenses	$	99,157
Deduct —
Allocation of expenses to affiliates	$	76,381
Total expense reductions	$	76,381

Net expenses	$	22,776

Net investment income	$	65,240

Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions	$	56,552
Foreign currency transactions		(1,953	)
Net realized gain	$	54,599
Change in unrealized appreciation (depreciation) —
Investments	$	176,119
Foreign currency		(158	)
Net change in unrealized appreciation (depreciation)	$	175,961

Net realized and unrealized gain	$	230,560

Net increase in net assets from operations	$	295,800


		16		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Statements of Changes in Net Assets


Increase (Decrease) in Net Assets	Six Months Ended July 31, 2013 (Unaudited)			Period Ended January 31, 2013⁽¹⁾
From operations —
Net investment income	$	65,240		$	3,031
Net realized gain from investment and foreign currency transactions, disposal of investments in violation of restrictions and net increase from payment by affiliate		54,599			9,268
Net change in unrealized appreciation (depreciation) from investments and foreign currency		175,961			198,205
Net increase in net assets from operations	$	295,800		$	210,504
Distributions to shareholders —
From net investment income	$	—		$	(2,000	)
Total distributions to shareholders	$	—		$	(2,000	)
Transactions in shares of beneficial interest —
Proceeds from sale of shares	$	77,608		$	5,000,000
Cost of shares redeemed		(10,256	)		—
Net increase in net assets from Fund share transactions	$	67,352		$	5,000,000

Net increase in net assets	$	363,152		$	5,208,504

Net Assets
At beginning of period	$	5,208,504		$	—
At end of period	$	5,571,656		$	5,208,504

Accumulated undistributed net investment income included in net assets
At end of period	$	90,644		$	25,404

⁽¹⁾	For the period from the start of business, December 20, 2012, to January 31, 2013.


		17		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Financial Highlights


	Institutional Class
	Six Months Ended July 31, 2013 (Unaudited)			Period Ended January 31, 2013⁽¹⁾
Net asset value — Beginning of period	$	10.420		$	10.000

Income (Loss) From Operations
Net investment income⁽²⁾	$	0.130		$	0.006
Net realized and unrealized gain		0.460			0.418

Total income from operations	$	0.590		$	0.424

Less Distributions
From net investment income	$	—		$	(0.004	)

Total distributions	$	—		$	(0.004	)

Net asset value — End of period	$	11.010		$	10.420

Total Return⁽³⁾		5.66	%⁽⁴⁾		4.24	%⁽⁴⁾⁽⁵⁾

Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	5,572		$	5,209
Ratios (as a percentage of average daily net assets):
Expenses		0.85	%⁽⁶⁾⁽⁷⁾		0.85	%⁽⁶⁾⁽⁷⁾
Net investment income		2.43	%⁽⁷⁾		0.52	%⁽⁷⁾
Portfolio Turnover		5	%⁽⁴⁾		13	%⁽⁴⁾

⁽¹⁾	For the period from the start of business, December 20, 2012, to January 31, 2013.

⁽²⁾	Computed using average shares outstanding.

⁽³⁾	Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

⁽⁴⁾	Not annualized.

⁽⁵⁾	During the period ended January 31, 2013, the sub-adviser reimbursed the Fund for a net loss realized on the disposal of an investment which did not meet the Fund’s investment guidelines. The reimbursement had no effect on total return for the period ended January 31, 2013.

⁽⁶⁾	The investment adviser, sub-adviser and administrator reimbursed certain operating expenses (equal to 2.84% and 10.98% of average daily net assets for the six months ended July 31, 2013 and the period ended January 31, 2013, respectively). Absent this subsidy, total return would have been lower.

⁽⁷⁾	Annualized.


		18		See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2013

Notes to Financial Statements (Unaudited)

1 Significant Accounting Policies

Parametric Global Small-Cap Fund (the Fund) is a diversified series of Eaton Vance Mutual Funds Trust (the Trust). The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The Fund commenced operations on December 20, 2012. The Fund’s investment objective is to seek long-term capital appreciation. The Fund offers Institutional Class (renamed from Class I effective March 1, 2013) shares, which are offered at net asset value and are not subject to a sales charge.

The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America.

A Investment Valuation — The following methodologies are used to determine the market value or fair value of investments.

Equity Securities. Equity securities (including common shares of closed-end investment companies) listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices therefore on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select Market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices.

Foreign Securities and Currencies. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Fund’s Trustees have approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities.

Affiliated Fund. The Fund may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). The value of the Fund’s investment in Cash Reserves Fund reflects the Fund’s proportionate interest in its net assets. Cash Reserves Fund generally values its investment securities utilizing the amortized cost valuation technique in accordance with Rule 2a-7 under the 1940 Act. This technique involves initially valuing a portfolio security at its cost and thereafter assuming a constant amortization to maturity of any discount or premium. If amortized cost is determined not to approximate fair value, Cash Reserves Fund may value its investment securities in the same manner as debt obligations described above.

Fair Valuation. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Fund in a manner that fairly reflects the security’s value, or the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial condition, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

B Investment Transactions — Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

C Income — Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. However, if the ex-dividend date has passed, certain dividends from foreign securities are recorded as the Fund is informed of the ex-dividend date. Withholding taxes on foreign dividends and capital gains have been provided for in accordance with the Fund’s understanding of the applicable countries’ tax rules and rates. Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount.

D Federal Taxes — The Fund’s policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders each year substantially all of its net investment income, and all or substantially all of its net realized capital gains. Accordingly, no provision for federal income or excise tax is necessary.

In addition to the requirements of the Internal Revenue Code, the Fund may also be subject to local taxes on the recognition of capital gains in certain countries. In determining the daily net asset value, the Fund estimates the accrual for such taxes, if any, based on the unrealized appreciation on certain portfolio securities and the related tax rates. Taxes attributable to unrealized appreciation are included in the change in unrealized appreciation (depreciation) on investments. Capital gains taxes on securities sold are included in net realized gain (loss) on investments.

As of July 31, 2013, the Fund had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Fund files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.


		19

Parametric Global Small-Cap Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

E Expenses — The majority of expenses of the Trust are directly identifiable to an individual fund. Expenses which are not readily identifiable to a specific fund are allocated taking into consideration, among other things, the nature and type of expense and the relative size of the funds.

F Expense Reduction — State Street Bank and Trust Company (SSBT) serves as custodian of the Fund. Pursuant to the custodian agreement, SSBT receives a fee reduced by credits, which are determined based on the average daily cash balance the Fund maintains with SSBT. All credit balances, if any, used to reduce the Fund’s custodian fees are reported as a reduction of expenses in the Statement of Operations.

G Foreign Currency Translation — Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

H Use of Estimates — The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

I Indemnifications — Under the Trust’s organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Fund. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts business trust (such as the Trust) could be deemed to have personal liability for the obligations of the Trust. However, the Trust’s Declaration of Trust contains an express disclaimer of liability on the part of Fund shareholders and the By-laws provide that the Trust shall assume the defense on behalf of any Fund shareholders. Moreover, the By-laws also provide for indemnification out of Fund property of any shareholder held personally liable solely by reason of being or having been a shareholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.

J Interim Financial Statements — The interim financial statements relating to July 31, 2013 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund’s management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.

2 Distributions to Shareholders

It is the present policy of the Fund to make at least one distribution annually (normally in December) of all or substantially all of its net investment income and to distribute annually all or substantially all of its net realized capital gains. Distributions to shareholders are recorded on the ex-dividend date. Shareholders may reinvest income and capital gain distributions in additional shares of the Fund at the net asset value as of the ex-dividend date or, at the election of the shareholder, receive distributions in cash. The Fund distinguishes between distributions on a tax basis and a financial reporting basis. Accounting principles generally accepted in the United States of America require that only distributions in excess of tax basis earnings and profits be reported in the financial statements as a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to paid-in capital. For tax purposes, distributions from short-term capital gains are considered to be from ordinary income.

3 Investment Adviser and Administration Fee and Other Transactions with Affiliates

The investment adviser and administration fee is earned by EVM as compensation for investment advisory and administrative services rendered to the Fund. The fee is computed at an annual rate of 0.70% of the Fund’s average daily net assets up to $500 million and is payable monthly. On net assets of $500 million and over, the annual fee is reduced. For the six months ended July 31, 2013, the investment adviser and administration fee amounted to $18,803 or 0.70% (annualized) of the Fund’s average daily net assets. Pursuant to a sub-advisory agreement, EVM has delegated the investment management of the Fund to Parametric Portfolio Associates LLC (Parametric), a majority-owned subsidiary of Eaton Vance Corp. EVM pays Parametric a portion of its advisory and administration fee for sub-advisory services provided to the Fund. The Fund invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund.

EVM and Parametric have agreed to reimburse the Fund’s expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only) exceed 0.85% of the Fund’s average daily net assets. This agreement may be changed or terminated after May 31, 2014. Pursuant to this agreement, EVM and Parametric were allocated $76,381 in total of the Fund’s operating expenses for the six months ended July 31, 2013.


		20

Parametric Global Small-Cap Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

accordance with the terms of the Trustees Deferred Compensation Plan. For the six months ended July 31, 2013, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM.

4 Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $983,070 and $874,096, respectively, for the six months ended July 31, 2013.

5 Shares of Beneficial Interest

The Fund’s Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest (without par value). Such shares may be issued in a number of different series (such as the Fund) and classes. Transactions in Fund shares were as follows:


	Six Months Ended July 31, 2013 (Unaudited)			Period Ended January 31, 2013⁽¹⁾

Sales		7,114			500,000
Redemptions		(949	)		—

Net increase		6,165			500,000

⁽¹⁾	For the period from the start of business, December 20, 2012, to January 31, 2013.

At July 31, 2013, an affiliate of EVM owned 99% of the value of the outstanding shares of the Fund.

6 Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2013, as determined on a federal income tax basis, were as follows:



Aggregate cost	$	5,164,475
Gross unrealized appreciation	$	643,134
Gross unrealized depreciation		(278,385	)

Net unrealized appreciation	$	364,749

7 Risks Associated with Foreign Investments

Investing in securities issued by companies whose principal business activities are outside the United States may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Certain foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitation on the removal of funds or other assets of the Fund, political or financial instability or diplomatic and other developments which could affect such investments. Foreign securities markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker/dealers and issuers than in the United States.

8 Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

Level 1 – quoted prices in active markets for identical investments


		21

Parametric Global Small-Cap Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At July 31, 2013, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:


Asset Description	Level 1		Level 2			Level 3		Total

Common Stocks
Asia/Pacific	$	19,746	$	1,598,034		$	—	$	1,617,780
Developed Europe		35,128		1,490,454			—		1,525,582
Developed Middle East		8,220		65,170			—		73,390
Emerging Europe		14,209		116,693			—		130,902
Latin America		237,799		—			—		237,799
Middle East/Africa		—		88,628			—		88,628
North America		1,736,932		—			—		1,736,932

Total Common Stocks	$	2,052,034	$	3,358,979	*	$	—	$	5,411,013

Equity-Linked Securities	$	—	$	89,258		$	—	$	89,258
Investment Funds		—		17			—		17
Short-Term Investments		—		28,936			—		28,936

Total Investments	$	2,052,034	$	3,477,190		$	—	$	5,529,224

*	Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The Fund held no investments or other financial instruments as of January 31, 2013 whose fair value was determined using Level 3 inputs. At July 31, 2013, the value of investments transferred between Level 1 and Level 2 during the six months then ended was not significant.


		22

Parametric Global Small-Cap Fund

July 31, 2013

Officers and Trustees

Officers of Parametric Global Small-Cap Fund

Duncan W. Richardson

President

Payson F. Swaffield

Vice President

Maureen A. Gemma

Vice President, Secretary and

Chief Legal Officer

James F. Kirchner

Treasurer

Paul M. O’Neil

Chief Compliance Officer

Trustees of Parametric Global Small-Cap Fund

Ralph F. Verni

Chairman

Scott E. Eston

Benjamin C. Esty

Thomas E. Faust Jr.*

Allen R. Freedman

William H. Park

Ronald A. Pearlman

Helen Frame Peters

Lynn A. Stout

Harriett Tee Taggart

*	Interested Trustee


		23

Eaton Vance Funds

IMPORTANT NOTICES

Privacy. The Eaton Vance organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy (“Privacy Policy”) with respect to nonpublic personal information about its customers:

Only such information received from you, through application forms or otherwise, and information about your Eaton Vance fund transactions will be collected. This may include information such as name, address, social security number, tax status, account balances and transactions.

None of such information about you (or former customers) will be disclosed to anyone, except as permitted by law (which includes disclosure to employees necessary to service your account). In the normal course of servicing a customer’s account, Eaton Vance may share information with unaffiliated third parties that perform various required services such as transfer agents, custodians and broker-dealers.

Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.

We reserve the right to change our Privacy Policy at any time upon proper notification to you. Customers may want to review our Privacy Policy periodically for changes by accessing the link on our homepage: www.eatonvance.com.

Our pledge of privacy applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds, Eaton Vance Management, Eaton Vance Investment Counsel, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management’s Real Estate Investment Group and Boston Management and Research. In addition, our Privacy Policy applies only to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer’s account (i.e., fund shares) is held in the name of a third-party financial advisor/broker-dealer, it is likely that only such advisor’s privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures. For more information about Eaton Vance’s Privacy Policy, please call 1-800-262-1122.

Delivery of Shareholder Documents. The Securities and Exchange Commission (SEC) permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called “householding” and it helps eliminate duplicate mailings to shareholders. Eaton Vance, or your financial advisor, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial advisor, otherwise. If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at 1-800-262-1122, or contact your financial advisor. Your instructions that householding not apply to delivery of your Eaton Vance documents will be effective within 30 days of receipt by Eaton Vance or your financial advisor.

Portfolio Holdings. Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) will file a schedule of portfolio holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. The Form N-Q will be available on the Eaton Vance website at www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC’s website at www.sec.gov. Form N-Q may also be reviewed and copied at the SEC’s public reference room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the public reference room).

Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds’ and Portfolios’ Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge, upon request, by calling 1-800-262-1122 and by accessing the SEC’s website at www.sec.gov.


		24

Investment Adviser and Administrator

Eaton Vance Management

Two International Place

Boston, MA 02110

Sub-Adviser

Parametric Portfolio Associates LLC

1918 Eighth Avenue, Suite 3100

Seattle, WA 98101

Principal Underwriter*

Eaton Vance Distributors, Inc.

Two International Place

Boston, MA 02110

(617) 482-8260

Custodian

State Street Bank and Trust Company

200 Clarendon Street

Boston, MA 02116

Transfer Agent

BNY Mellon Asset Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 262-1122

Fund Offices

Two International Place

Boston, MA 02110

FINRA BrokerCheck. Investors may check the background of their Investment Professional by contacting the Financial Industry Regulatory Authority (FINRA). FINRA BrokerCheck is a free tool to help investors check the professional background of current and former FINRA-registered securities firms and brokers. FINRA BrokerCheck is available by calling 1-800-289-9999 and at www.FINRA.org. The FINRA BrokerCheck brochure describing the program is available to investors at www.FINRA.org.

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6603-9/13		PPAGSCSRC

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Parametric International Equity Fund

Semiannual Report

July 31, 2013

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Semiannual Report July 31, 2013

Parametric International Equity Fund

Table of Contents


Performance			2

Fund Profile			3

Endnotes and Additional Disclosures			4

Fund Expenses			5

Financial Statements			6

Board of Trustees’ Contract Approval			22

Officers and Trustees			25

Important Notices			26

Parametric International Equity Fund

July 31, 2013

Performance^1,2

Portfolio Managers David Stein, Ph.D. and Thomas Seto, each of Parametric Portfolio Associates LLC


% Average Annual Total Returns	Class Inception Date		Performance Inception Date		Six Months			One Year			Five Years			Since Inception
Investor Class at NAV		04/01/2010		04/01/2010		3.22	%		19.58	%		—			6.09	%
Institutional Class at NAV		04/01/2010		04/01/2010		3.30			19.83			—			6.35
MSCI EAFE Index		—		04/01/2010		4.11	%		23.48	%		1.05	%		5.79	%


% Total Annual Operating Expense Ratios³											Investor Class			Institutional Class
Gross												1.51	%		1.25	%
Net												1.05			0.80

See Endnotes and Additional Disclosures in this report.


		2

Parametric International Equity Fund

July 31, 2013

Fund Profile

Sector Allocation (% of net assets)⁴

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Geographic Allocation (% of common stocks)

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Top 10 Holdings (% of net assets)⁴


Nestle SA	1.9	%
Linde AG	1.6
ENI SpA	1.5
SAP AG	1.5
Novo Nordisk A/S, Class B	1.3
ASML Holding NV	1.3
DBS Group Holdings, Ltd.	1.2
Anheuser-Busch InBev NV	1.2
Royal Dutch Shell PLC, Class B	1.1
Royal Dutch Shell PLC, Class A	1.1
Total	13.7	%

See Endnotes and Additional Disclosures in this report.


		3

Parametric International Equity Fund

July 31, 2013

Endnotes and Additional Disclosures

MSCI EAFE Index is an unmanaged index of equities in the developed markets, excluding the U.S. and Canada. MSCI indices are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

²	Returns are historical and are calculated by determining the percentage change in NAV with all distributions reinvested. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares.

³	Source: Fund prospectus. Net expense ratio reflects a contractual expense reimbursement that continues through 5/31/14. Without the reimbursement, performance would have been lower.

⁴	Excludes cash and cash equivalents.

Fund profile subject to change due to active management.


		4

Parametric International Equity Fund

July 31, 2013

Fund Expenses


	Beginning Account Value (2/1/13)		Ending Account Value (7/31/13)		Expenses Paid During Period* (2/1/13 – 7/31/13)		Annualized Expense Ratio


Actual
Investor Class	$	1,000.00	$	1,032.20	$	5.29		1.05	%
Institutional Class	$	1,000.00	$	1,033.00	$	4.03		0.80	%



Hypothetical
(5% return per year before expenses)
Investor Class	$	1,000.00	$	1,019.60	$	5.26		1.05	%
Institutional Class	$	1,000.00	$	1,020.80	$	4.01		0.80	%


		5

Parametric International Equity Fund

July 31, 2013

Portfolio of Investments (Unaudited)


Common Stocks — 99.2%


Security	Shares		Value


Australia — 5.8%
AGL Energy, Ltd.		10,720	$	140,136
Amcor, Ltd.		49,351		469,008
APA Group		9,374		50,557
Australia and New Zealand Banking Group, Ltd.		8,787		234,768
BHP Billiton, Ltd.		5,224		163,327
CFS Retail Property Trust Group		15,090		27,796
Coca-Cola Amatil, Ltd.		7,751		89,463
Commonwealth Bank of Australia		5,968		397,800
Computershare, Ltd.		8,306		73,026
Crown, Ltd.		2,586		29,732
CSL, Ltd.		2,979		176,786
GPT Group		20,151		66,256
Harvey Norman Holdings, Ltd.		14,330		34,229
James Hardie Industries PLC CDI		3,613		30,011
Metcash, Ltd.		13,246		41,056
National Australia Bank, Ltd.		7,496		210,337
Newcrest Mining, Ltd.		1,217		13,405
Orica, Ltd.		8,309		134,996
Origin Energy, Ltd.		14,876		159,647
Rio Tinto, Ltd.		2,548		131,773
Shopping Centres Australasia Property Group		1,358		1,971
Tabcorp Holdings, Ltd.		11,542		33,902
Tatts Group, Ltd.		15,658		44,885
Telstra Corp., Ltd.		83,983		376,302
Transurban Group		37,219		226,688
Wesfarmers, Ltd.		1,376		50,152
Wesfarmers, Ltd., PPS		980		36,260
Westfield Group		2,673		26,959
Westpac Banking Corp.		6,289		174,462
Woodside Petroleum, Ltd.		2,457		82,967
Woolworths, Ltd.		5,674		169,917

			$	3,898,574


Austria — 1.0%
Andritz AG		459	$	24,807
Immofinanz AG⁽¹⁾		10,901		44,646
OMV AG		7,683		339,886
Raiffeisen Bank International AG		4,244		128,803
Telekom Austria AG		5,922		41,139
Verbund AG		2,974		58,595
Vienna Insurance Group		836		43,172
Voestalpine AG		438		16,803

			$	697,851


Security	Shares		Value


Belgium — 3.4%
Anheuser-Busch InBev NV		8,258	$	794,100
Belgacom SA		9,413		230,401
Colruyt SA		3,783		215,725
Groupe Bruxelles Lambert SA		4,172		338,612
Mobistar SA		1,702		24,272
Solvay SA		1,554		210,651
Telenet Group Holding NV		2,730		132,040
UCB SA		3,316		190,937
Umicore SA		2,702		121,633

			$	2,258,371


Denmark — 4.0%
A.P. Moller-Maersk A/S, Class A		18	$	133,120
A.P. Moller-Maersk A/S, Class B		17		133,308
Carlsberg A/S, Class B		264		26,168
Coloplast A/S, Class B		8,560		500,049
Danske Bank A/S⁽¹⁾		1,619		29,801
DSV A/S		8,305		217,646
Novo Nordisk A/S, Class B		5,092		863,939
Novozymes A/S, Class B		11,333		388,460
TDC A/S		9,435		82,582
Tryg A/S		1,718		155,721
William Demant Holding A/S⁽¹⁾		1,217		107,179

			$	2,637,973


Finland — 2.8%
Elisa Oyj		10,113	$	217,763
Fortum Oyj		5,990		118,480
Kesko Oyj, Class B		1,144		35,980
Kone Oyj, Class B		6,096		454,019
Metso Oyj		760		26,775
Nokia Oyj⁽¹⁾		41,727		164,965
Nokian Renkaat Oyj		679		30,157
Orion Oyj, Class B		6,382		156,223
Pohjola Bank PLC, Class A		2,795		48,411
Sampo Oyj		6,837		299,436
Stora Enso Oyj		9,903		73,466
UPM-Kymmene Oyj		1,270		14,139
Wartsila Oyj		4,279		193,982

			$	1,833,796


France — 6.6%
ADP		2,010	$	207,675
Air Liquide SA		5,035		668,404
Carrefour SA		2,340		71,692


		6		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


France (continued)
Christian Dior SA		476	$	84,349
Dassault Systemes SA		2,386		313,653
Essilor International SA		2,373		265,579
Eutelsat Communications SA		4,071		113,782
GDF Suez		8,332		174,758
Iliad SA		305		71,959
Imerys SA		900		59,505
Kering SA		354		81,184
L’Oreal SA		908		152,209
Lagardere SCA		816		25,856
LVMH Moet Hennessy Louis Vuitton SA		3,092		562,835
Neopost SA		619		44,468
Pernod-Ricard SA		2,986		356,279
Safran SA		3,384		198,724
Sanofi		2,614		273,643
SES SA		2,302		67,756
Societe BIC SA		1,160		128,854
Sodexo		1,703		155,533
Suez Environnement Co. SA		3,119		44,253
Thales SA		1,044		53,762
Total SA		2,570		136,951
Unibail-Rodamco SE		173		42,033
Vivendi SA		623		13,321

			$	4,369,017


Germany — 6.6%
Adidas AG		1,511	$	168,424
Bayerische Motoren Werke AG		2,296		224,730
Bayerische Motoren Werke AG, PFC Shares		1,681		127,801
Beiersdorf AG		2,654		245,426
Continental AG		533		83,931
Deutsche Lufthansa AG⁽¹⁾		4,066		81,482
Deutsche Post AG		7,780		217,560
Deutsche Telekom AG		9,603		116,772
Fraport AG		442		28,614
Fresenius Medical Care AG & Co. KGaA		438		27,657
Hannover Rueckversicherung AG		1,121		83,260
Henkel AG & Co. KGaA		1,387		114,941
Henkel AG & Co. KGaA, PFC Shares		2,359		230,590
Linde AG		5,526		1,064,488
Osram Licht AG⁽¹⁾		284		11,070
Porsche Automobil Holding SE, PFC Shares		424		35,950
Salzgitter AG		938		34,918
SAP AG		13,652		1,000,301
Siemens AG		2,840		311,921


Security	Shares		Value


Germany (continued)
United Internet AG		5,328	$	174,031
Volkswagen AG		164		37,268

			$	4,421,135


Greece — 0.1%
OPAP SA		11,054	$	99,205

			$	99,205


Hong Kong — 4.7%
ASM Pacific Technology, Ltd.		3,100	$	33,665
Bank of East Asia, Ltd.		39,600		148,444
BOC Hong Kong (Holdings), Ltd.		80,000		250,980
Cathay Pacific Airways, Ltd.		60,000		111,086
Cheung Kong Infrastructure Holdings, Ltd.		33,000		227,839
CLP Holdings, Ltd.		29,500		244,553
Hang Lung Group, Ltd.		7,000		36,081
Hang Seng Bank, Ltd.		33,500		511,962
Hong Kong & China Gas Co., Ltd.		137,759		352,577
Hopewell Holdings, Ltd.		23,500		74,464
Link REIT (The)		87,500		427,253
MTR Corp., Ltd.		50,000		185,904
PCCW, Ltd.		60,000		27,151
Power Assets Holdings, Ltd.		46,500		417,460
Wing Hang Bank, Ltd.		7,500		69,489

			$	3,118,908


Ireland — 1.3%
CRH PLC		10,157	$	213,549
Elan Corp. PLC⁽¹⁾		10,818		165,433
Kerry Group PLC, Class A		8,151		499,174

			$	878,156


Israel — 2.2%
Bank Hapoalim B.M.		40,714	$	194,693
Bank Leumi Le-Israel B.M.⁽¹⁾		40,741		136,688
Bezeq Israeli Telecommunication Corp., Ltd.		54,575		88,157
Delek Group, Ltd.		333		93,513
Elbit Systems, Ltd.		1,029		45,397
Israel Chemicals, Ltd.		9,083		72,430
Israel Corp., Ltd.⁽¹⁾		135		63,289
Mellanox Technologies, Ltd.⁽¹⁾		1,549		69,861
Mizrahi Tefahot Bank, Ltd.⁽¹⁾		8,225		87,709
NICE Systems, Ltd.		4,354		168,524
Teva Pharmaceutical Industries, Ltd. ADR		11,938		473,939

			$	1,494,200


		7		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Italy — 4.2%
Atlantia SpA		5,458	$	103,909
Autogrill SpA⁽¹⁾		3,055		46,663
Enel Green Power SpA		87,086		193,847
Enel SpA		14,019		46,910
ENI SpA		45,706		1,009,514
Finmeccanica SpA⁽¹⁾		12,888		67,426
Luxottica Group SpA		7,144		378,488
Pirelli & C. SpA		8,864		116,402
Saipem SpA		1,484		31,635
Snam Rete Gas SpA		76,133		359,809
Telecom Italia SpA		33,467		22,959
Telecom Italia SpA, PFC Shares		69,028		36,374
Tenaris SA		3,596		80,228
Terna Rete Elettrica Nazionale SpA		67,097		299,694

			$	2,793,858


Japan — 11.9%
ABC-Mart, Inc.		1,100	$	49,608
All Nippon Airways Co., Ltd.		61,000		125,613
Aozora Bank, Ltd.		12,000		37,070
Bank of Kyoto, Ltd. (The)		10,000		79,853
Bank of Yokohama, Ltd. (The)		43,000		235,670
Benesse Holdings, Inc.		900		31,037
Canon, Inc.		1,200		37,013
Chiba Bank, Ltd. (The)		20,000		138,370
Chugai Pharmaceutical Co., Ltd.		7,100		140,780
Chugoku Bank, Ltd. (The)		10,000		129,845
Daihatsu Motor Co., Ltd.		9,000		197,823
Dainippon Sumitomo Pharma Co., Ltd.		2,600		34,484
Electric Power Development Co., Ltd.		1,800		59,535
Gunma Bank, Ltd. (The)		20,000		113,067
Hachijuni Bank, Ltd. (The)		21,000		123,204
Hamamatsu Photonics K.K.		5,000		173,595
Hiroshima Bank, Ltd. (The)		22,000		91,447
Hoya Corp.		1,600		34,483
Isetan Mitsukoshi Holdings, Ltd.		5,000		68,956
ITOCHU Techno-Solutions Corp.		1,200		47,549
Iyo Bank, Ltd. (The)		10,000		95,387
Japan Airlines Co., Ltd.		3,200		169,700
Japan Real Estate Investment Corp.		6		63,271
Joyo Bank, Ltd. (The)		6,000		32,275
JX Holdings, Inc.		4,900		26,009
Kamigumi Co., Ltd.		14,000		116,042
Kansai Paint Co., Ltd.		10,000		129,562
Keikyu Corp.		7,000		58,404
Keio Corp.		23,000		161,830


Security	Shares		Value


Japan (continued)
Keyence Corp.		1,400	$	456,482
Kintetsu Corp.		16,000		68,697
Kyowa Hakko Kirin Co., Ltd.		8,000		79,735
Lawson, Inc.		600		47,018
McDonald’s Holdings Co. (Japan), Ltd.		4,100		113,801
Miraca Holdings, Inc.		800		38,579
Mitsubishi Logistics Corp.		2,000		29,136
Mitsubishi Tanabe Pharma Corp.		4,700		63,312
Mizuho Financial Group, Inc.		10,600		22,046
NGK Spark Plug Co., Ltd.		8,000		158,706
Nippon Telegraph & Telephone Corp.		700		35,315
Nishi-Nippon City Bank, Ltd. (The)		19,000		48,970
Nitori Holdings Co., Ltd.		1,150		98,113
NTT DoCoMo, Inc.		406		618,370
Odakyu Electric Railway Co., Ltd.		20,000		189,855
Ono Pharmaceutical Co., Ltd.		3,600		230,733
Oracle Corp. Japan		800		31,163
Oriental Land Co., Ltd.		1,600		260,344
Osaka Gas Co., Ltd.		15,000		63,489
Rakuten, Inc.		22,500		303,355
Rinnai Corp.		1,700		124,469
Sankyo Co., Ltd.		1,500		66,238
Santen Pharmaceutical Co., Ltd.		2,800		121,985
Seven Bank, Ltd.		14,800		54,756
Shimamura Co., Ltd.		900		103,185
Shizuoka Bank, Ltd. (The)		26,000		281,170
Sumitomo Metal Mining Co., Ltd.		2,000		26,069
Suruga Bank, Ltd.		8,000		141,976
Suzuken Co., Ltd.		2,700		84,389
Sysmex Corp.		1,100		70,938
Taisho Pharmaceutical Holdings Co., Ltd.		700		47,681
Takashimaya Co., Ltd.		8,000		78,621
Takeda Pharmaceutical Co., Ltd.		600		26,756
Toho Gas Co., Ltd.		24,000		119,920
Tokyo Gas Co., Ltd.		18,000		98,944
TonenGeneral Sekiyu K.K.		13,000		125,720
Tsumura & Co.		2,000		56,970
Unicharm Corp.		4,100		218,266
USS Co., Ltd.		1,020		121,860
Yahoo! Japan Corp.		73		38,795
Yakult Honsha Co., Ltd.		900		41,928
Yamaguchi Financial Group, Inc.		3,000		28,556
Yamato Holdings Co., Ltd.		1,600		35,077
Yokogawa Electric Corp.		3,000		38,803

			$	7,911,773


		8		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Netherlands — 5.5%
Akzo Nobel NV		5,473	$	333,666
ASML Holding NV		9,511		856,748
European Aeronautic Defence and Space Co. NV		4,015		240,438
Gemalto NV		328		34,350
Heineken Holding NV		1,536		96,352
Heineken NV		4,798		337,020
Koninklijke Ahold NV		28,798		474,442
Koninklijke DSM NV		6,509		457,446
Koninklijke Vopak NV		3,273		188,538
QIAGEN NV⁽¹⁾		7,997		164,302
Reed Elsevier NV		7,995		153,162
Unilever NV		7,582		304,201

			$	3,640,665


New Zealand — 0.6%
Auckland International Airport, Ltd.		54,928	$	138,025
Chorus, Ltd.		19,155		41,308
Contact Energy, Ltd.		13,397		57,428
Fletcher Building, Ltd.		9,121		59,196
SKYCITY Entertainment Group, Ltd.		12,185		40,740
Telecom Corporation of New Zealand, Ltd.		24,205		43,533

			$	380,230


Norway — 2.6%
Aker Solutions ASA		6,611	$	99,626
Gjensidige Forsikring ASA		3,679		56,940
Norsk Hydro ASA		41,467		176,276
Orkla ASA		11,836		91,410
Seadrill, Ltd.		4,762		203,558
Statoil ASA		23,825		517,160
Telenor ASA		25,125		556,436
Yara International ASA		1,145		51,385

			$	1,752,791


Portugal — 0.6%
EDP-Energias de Portugal SA		40,840	$	145,190
Galp Energia SGPS SA, Class B		4,864		77,693
Jeronimo Martins SGPS SA		7,367		145,551
Portugal Telecom SGPS SA		12,313		46,979

			$	415,413


Singapore — 4.6%
Ascendas Real Estate Investment Trust		88,000	$	159,058
CapitaMall Trust		17,000		27,093


Security	Shares		Value


Singapore (continued)
ComfortDelGro Corp., Ltd.		28,000	$	44,073
DBS Group Holdings, Ltd.		61,000		800,498
Oversea-Chinese Banking Corp., Ltd.		64,000		531,337
Singapore Airlines, Ltd.		27,000		214,661
Singapore Press Holdings, Ltd.		57,000		196,752
Singapore Technologies Engineering, Ltd.		29,000		97,657
Singapore Telecommunications, Ltd.		138,000		426,135
StarHub, Ltd.		29,000		100,379
United Overseas Bank, Ltd.		20,000		337,383
UOL Group, Ltd.		22,000		120,838

			$	3,055,864


Spain — 4.8%
Abertis Infraestructuras SA		7,993	$	148,421
Acerinox SA		10,015		102,652
ACS Actividades de Construccion y Servicios SA		1,486		42,789
Amadeus IT Holding SA, Class A		7,654		263,239
CaixaBank SA		35,310		130,243
Distribuidora Internacional de Alimentacion SA		4,617		38,207
Enagas		9,894		244,494
Ferrovial SA		17,708		302,099
Grifols SA		4,142		174,934
Iberdrola SA		12,720		70,388
Indra Sistemas SA		3,869		52,436
Industria de Diseno Textil SA		4,665		622,706
International Consolidated Airlines Group SA⁽¹⁾		23,405		103,816
Red Electrica Corp. SA		3,386		188,812
Repsol SA		8,521		204,224
Telefonica SA⁽¹⁾		24,676		352,674
Zardoya Otis SA		11,076		161,378

			$	3,203,512


Sweden — 5.3%
Atlas Copco AB, Class A		2,400	$	62,606
Boliden AB		2,812		39,706
Elekta AB, Class B		5,377		92,079
Getinge AB, Class B		2,651		98,035
Hennes & Mauritz AB, Class B		11,566		432,239
Holmen AB, Class B		4,514		130,974
Investor AB, Class B		8,721		261,849
Lundin Petroleum AB⁽¹⁾		1,406		30,877
Millicom International Cellular SA SDR		2,048		163,999
Nordea Bank AB		38,385		486,550
Scania AB, Class B		2,903		60,565
Skandinaviska Enskilda Banken AB, Class A		23,042		254,347


		9		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Sweden (continued)
Skanska AB, Class B		10,263	$	193,655
SKF AB, Class B		2,576		71,497
Svenska Cellulosa AB, Class B		3,039		80,390
Swedbank AB, Class A		10,085		243,102
Tele2 AB, Class B		12,006		153,895
Telefonaktiebolaget LM Ericsson, Class B		7,673		90,697
TeliaSonera AB		82,970		600,107

			$	3,547,169


Switzerland — 7.1%
Actelion, Ltd.⁽¹⁾		3,472	$	230,738
Adecco SA⁽¹⁾		2,725		173,254
Baloise Holding AG		572		62,099
Coca-Cola HBC AG⁽¹⁾		3,384		87,717
Geberit AG		169		45,340
Givaudan SA⁽¹⁾		98		136,401
Lonza Group AG⁽¹⁾		465		35,790
Nestle SA		18,457		1,249,218
Novartis AG		8,262		593,928
Roche Holding AG PC		2,475		609,070
Schindler Holding AG		1,195		166,616
Schindler Holding AG PC		317		45,358
Sonova Holding AG⁽¹⁾		1,727		190,601
Sulzer AG		246		36,765
Swatch Group, Ltd. (The), Bearer Shares		416		247,209
Swiss Reinsurance Co., Ltd.		5,074		404,560
Swisscom AG		639		285,660
Zurich Insurance Group AG⁽¹⁾		573		154,348

			$	4,754,672


United Kingdom — 13.5%
Aberdeen Asset Management PLC		9,038	$	52,899
Associated British Foods PLC		4,328		128,034
AstraZeneca PLC		11,828		599,984
BAE Systems PLC		7,319		49,636
Barclays PLC		73,052		319,163
BHP Billiton PLC		2,710		77,572
BP PLC		65,724		454,076
Bunzl PLC		1,959		42,051
Burberry Group PLC		10,003		233,177
Centrica PLC		77,594		461,311
Compass Group PLC		11,392		155,750
Croda International PLC		1,608		61,415
Diageo PLC		18,102		567,295
Experian PLC		5,603		105,062


Security	Shares		Value


United Kingdom (continued)
GlaxoSmithKline PLC		5,112	$	130,783
Imperial Tobacco Group PLC		657		22,052
Kingfisher PLC		14,107		85,347
Marks & Spencer Group PLC		12,269		89,715
National Grid PLC		11,740		140,309
Next PLC		5,527		419,499
Prudential PLC		3,606		64,042
Randgold Resources, Ltd.		1,286		94,748
Reckitt Benckiser Group PLC		577		41,077
Reed Elsevier PLC		5,162		66,816
Rexam PLC		28,816		215,549
Rolls-Royce Holdings PLC⁽¹⁾		12,516		223,149
Rolls-Royce Holdings PLC, PFC Shares⁽¹⁾		1,489,404		2,266
Royal Dutch Shell PLC, Class A		21,352		728,555
Royal Dutch Shell PLC, Class B		21,459		759,013
Sage Group PLC (The)		41,976		223,753
Schroders PLC		893		33,256
Serco Group PLC		16,187		154,787
Severn Trent PLC		2,391		64,399
Shire PLC		9,039		329,756
SSE PLC		3,277		78,450
Subsea 7 SA		6,929		131,777
Tesco PLC		59,778		334,155
Tullow Oil PLC		13,944		220,576
Unilever PLC		988		40,121
United Utilities Group PLC		2,810		30,820
Vodafone Group PLC		147,109		440,602
Whitbread PLC		3,750		184,431
WM Morrison Supermarkets PLC		81,469		358,585

			$	9,015,813


Total Common Stocks (identified cost $55,529,499)			$	66,178,946


Rights⁽¹⁾ — 0.0%⁽²⁾


Security	Shares		Value

CaixaBank SA, Exp. 8/19/13		35,310	$	2,490


Total Rights (identified cost $2,342)			$	2,490


		10		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Short-Term Investments — 0.6%


Description	Interest (000’s omitted)		Value

Eaton Vance Cash Reserves Fund, LLC, 0.10%⁽³⁾	$	415	$	415,137


Total Short-Term Investments (identified cost $415,137)			$	415,137


Total Investments — 99.8% (identified cost $55,946,978)			$	66,596,573


Other Assets, Less Liabilities — 0.2%			$	114,234


Net Assets — 100.0%			$	66,710,807

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.


ADR	–	American Depositary Receipt
CDI	–	CHESS Depositary Interest
PC	–	Participation Certificate
PFC Shares	–	Preference Shares
PPS	–	Partially Protected Shares
SDR	–	Swedish Depositary Receipt

⁽¹⁾

Non-income producing security.

⁽²⁾

Amount is less than 0.05%.

⁽³⁾

Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of July 31, 2013.


Currency Concentration of Portfolio


Currency	Percentage of Net Assets			Value
Euro		36.9	%	$	24,613,469
British Pound Sterling		13.4			8,971,753
Japanese Yen		11.9			7,911,773
Swiss Franc		7.0			4,666,955
Australian Dollar		5.8			3,898,574
Swedish Krona		5.3			3,547,169
Hong Kong Dollar		4.7			3,118,908
Singapore Dollar		4.6			3,055,864
Danish Krone		4.0			2,637,973
Norwegian Krone		2.8			1,884,568
Israeli Shekel		1.5			1,020,261
United States Dollar		1.3			889,076
New Zealand Dollar		0.6			380,230

Total Investments		99.8	%	$	66,596,573


Sector Classification of Portfolio


Sector	Percentage of Net Assets			Value
Financials		15.6	%	$	10,436,571
Health Care		11.8			7,836,166
Consumer Staples		11.7			7,832,171
Consumer Discretionary		11.1			7,418,761
Industrials		11.0			7,307,049
Materials		8.5			5,648,412
Energy		8.3			5,513,205
Telecommunication Services		7.8			5,214,544
Utilities		6.8			4,552,957
Information Technology		6.6			4,421,600
Short-Term Investments		0.6			415,137

Total Investments		99.8	%	$	66,596,573


		11		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Statement of Assets and Liabilities (Unaudited)


Assets	July 31, 2013
Unaffiliated investments, at value (identified cost, $55,531,841)	$	66,181,436
Affiliated investment, at value (identified cost, $415,137)		415,137
Foreign currency, at value (identified cost, $76,433)		77,992
Dividends receivable		57,704
Interest receivable from affiliated investment		48
Receivable for investments sold		1,182
Receivable for Fund shares sold		37,957
Tax reclaims receivable		76,137
Receivable from affiliates		18,446
Total assets	$	66,866,039

Liabilities
Payable for Fund shares redeemed	$	55,159
Payable to affiliates:
Investment adviser and administration fee		41,469
Distribution and service fees		1,815
Accrued expenses		56,789
Total liabilities	$	155,232
Net Assets	$	66,710,807

Sources of Net Assets
Paid-in capital	$	60,717,051
Accumulated net realized loss		(5,508,863	)
Accumulated undistributed net investment income		851,923
Net unrealized appreciation		10,650,696
Total	$	66,710,807

Investor Class Shares
Net Assets	$	9,011,444
Shares Outstanding		781,062
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	11.54

Institutional Class Shares
Net Assets	$	57,699,363
Shares Outstanding		4,984,910
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	11.57


		12		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Statement of Operations (Unaudited)


Investment Income	Six Months Ended July 31, 2013
Dividends (net of foreign taxes, $164,133)	$	1,415,500
Interest allocated from affiliated investment		238
Expenses allocated from affiliated investment		(29	)
Total investment income	$	1,415,709

Expenses
Investment adviser and administration fee	$	236,137
Distribution and service fees
Investor Class		9,616
Class C		563
Trustees’ fees and expenses		1,481
Custodian fee		53,818
Transfer and dividend disbursing agent fees		10,902
Legal and accounting services		21,102
Printing and postage		9,743
Registration fees		27,769
Miscellaneous		9,101
Total expenses	$	380,232
Deduct —
Allocation of expenses to affiliates	$	118,639
Total expense reductions	$	118,639

Net expenses	$	261,593

Net investment income	$	1,154,116

Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions	$	(63,459	)
Investment transactions allocated from affiliated investment		6
Foreign currency transactions		(7,447	)
Net realized loss	$	(70,900	)
Change in unrealized appreciation (depreciation) —
Investments	$	1,024,998
Foreign currency		360
Net change in unrealized appreciation (depreciation)	$	1,025,358

Net realized and unrealized gain	$	954,458

Net increase in net assets from operations	$	2,108,574


		13		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Statements of Changes in Net Assets


Increase (Decrease) in Net Assets	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013
From operations —
Net investment income	$	1,154,116		$	1,331,543
Net realized loss from investment and foreign currency transactions		(70,900	)		(2,089,611	)
Net change in unrealized appreciation (depreciation) from investments and foreign currency		1,025,358			9,402,447
Net increase in net assets from operations	$	2,108,574		$	8,644,379
Distributions to shareholders —
From net investment income
Investor Class	$	—		$	(159,997	)
Class C		—			(8,524	)
Institutional Class		—			(1,417,505	)
Total distributions to shareholders	$	—		$	(1,586,026	)
Transactions in shares of beneficial interest —
Proceeds from sale of shares
Investor Class	$	2,650,906		$	6,166,012
Class C		70,326			242,466
Institutional Class		5,389,410			15,252,640
Net asset value of shares issued to shareholders in payment of distributions declared
Investor Class		—			159,076
Class C		—			8,293
Institutional Class		—			433,419
Cost of shares redeemed
Investor Class		(1,468,389	)		(12,844,202	)
Class C		(60	)		(104,225	)
Institutional Class		(3,683,420	)		(13,202,800	)
Net asset value of shares merged*
Investor Class		519,171			—
Class C		(519,171	)		—
Net increase (decrease) in net assets from Fund share transactions	$	2,958,773		$	(3,889,321	)

Net increase in net assets	$	5,067,347		$	3,169,032

Net Assets
At beginning of period	$	61,643,460		$	58,474,428
At end of period	$	66,710,807		$	61,643,460

Accumulated undistributed (distributions in excess of) net investment income included in net assets
At end of period	$	851,923		$	(302,193	)

*	At the close of business on March 15, 2013, Class C shares were merged into Investor Class shares.


		14		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Financial Highlights


	Investor Class
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31,						Period Ended January 31, 2011⁽¹⁾
	Six Months Ended July 31, 2013 (Unaudited)			2013			2012			Period Ended January 31, 2011⁽¹⁾
Net asset value — Beginning of period	$	11.180		$	9.850		$	10.960		$	10.000

Income (Loss) From Operations
Net investment income (loss)⁽²⁾	$	0.191		$	0.227		$	0.172		$	(0.020	)
Net realized and unrealized gain (loss)		0.169			1.370			(1.073	)		1.058

Total income (loss) from operations	$	0.360		$	1.597		$	(0.901	)	$	1.038

Less Distributions
From net investment income	$	—		$	(0.267	)	$	(0.209	)	$	(0.078	)

Total distributions	$	—		$	(0.267	)	$	(0.209	)	$	(0.078	)

Redemption fees⁽²⁾⁽³⁾	$	—		$	—		$	—		$	0.000	⁽⁴⁾

Net asset value — End of period	$	11.540		$	11.180		$	9.850		$	10.960

Total Return⁽⁵⁾		3.22	%⁽⁶⁾		16.32	%		(8.11	)%		10.39	%⁽⁶⁾

Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	9,011		$	7,038		$	12,263		$	3,578
Ratios (as a percentage of average daily net assets):
Expenses⁽⁷⁾⁽⁸⁾		1.05	%⁽⁹⁾		1.29	%		1.50	%		1.50	%⁽⁹⁾
Net investment income (loss)		3.41	%⁽⁹⁾		2.22	%		1.68	%		(0.22	)%⁽⁹⁾
Portfolio Turnover		10	%⁽⁶⁾		44	%		60	%		15	%⁽⁶⁾

⁽¹⁾	For the period from the start of business, April 1, 2010, to January 31, 2011.

⁽²⁾	Computed using average shares outstanding.

⁽³⁾	Redemption fees were discontinued as of January 1, 2011.

⁽⁴⁾	Amount is less than $0.0005.

⁽⁵⁾	Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.

⁽⁶⁾	Not annualized.

⁽⁷⁾	Excludes the effect of custody fee credits, if any, of less than 0.005%.

⁽⁸⁾	The investment adviser, sub-adviser and administrator subsidized certain operating expenses (equal to 0.38%, 0.29%, 0.25% and 0.72% of average daily net assets for the six months ended July 31,2013, the years ended January 31, 2013 and 2012 and the period ended January 31, 2011, respectively).

⁽⁹⁾	Annualized.


		15		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Financial Highlights — continued


	Institutional Class
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31,						Period Ended January 31, 2011⁽¹⁾
	Six Months Ended July 31, 2013 (Unaudited)			2013			2012			Period Ended January 31, 2011⁽¹⁾
Net asset value — Beginning of period	$	11.200		$	9.880		$	10.970		$	10.000

Income (Loss) From Operations
Net investment income⁽²⁾	$	0.209		$	0.252		$	0.239		$	0.102
Net realized and unrealized gain (loss)		0.161			1.375			(1.104	)		0.950

Total income (loss) from operations	$	0.370		$	1.627		$	(0.865	)	$	1.052

Less Distributions
From net investment income	$	—		$	(0.307	)	$	(0.225	)	$	(0.082	)

Total distributions	$	—		$	(0.307	)	$	(0.225	)	$	(0.082	)

Redemption fees⁽²⁾⁽³⁾	$	—		$	—		$	—		$	0.000	⁽⁴⁾

Net asset value — End of period	$	11.570		$	11.200		$	9.880		$	10.970

Total Return⁽⁵⁾		3.30	%⁽⁶⁾		16.59	%		(7.76	)%		10.54	%⁽⁶⁾

Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	57,699		$	54,167		$	45,957		$	41,969
Ratios (as a percentage of average daily net assets):
Expenses⁽⁷⁾⁽⁸⁾		0.80	%⁽⁹⁾		1.02	%		1.25	%		1.25	%⁽⁹⁾
Net investment income		3.70	%⁽⁹⁾		2.45	%		2.28	%		1.20	%⁽⁹⁾
Portfolio Turnover		10	%⁽⁶⁾		44	%		60	%		15	%⁽⁶⁾

⁽¹⁾	For the period from the start of business, April 1, 2010, to January 31, 2011.

⁽²⁾	Computed using average shares outstanding.

⁽³⁾	Redemption fees were discontinued as of January 1, 2011.

⁽⁴⁾	Amount is less than $0.0005.

⁽⁵⁾	Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

⁽⁶⁾	Not annualized.

⁽⁷⁾	Excludes the effect of custody fee credits, if any, of less than 0.005%.

⁽⁸⁾	The investment adviser, sub-adviser and administrator subsidized certain operating expenses (equal to 0.38%, 0.30%, 0.25% and 0.72% of average daily net assets for the six months ended July 31, 2013, the years ended January 31, 2013 and 2012 and the period ended January 31, 2011, respectively).

⁽⁹⁾	Annualized.


		16		See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2013

Notes to Financial Statements (Unaudited)

1 Significant Accounting Policies

Parametric International Equity Fund (formerly, Eaton Vance Parametric Structured International Equity Fund) (the Fund) is a diversified series of Eaton Vance Mutual Funds Trust (the Trust). The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The Fund’s investment objective is to seek long-term capital appreciation. The Fund offers two classes of shares. Investor Class (renamed from Class A effective March 1, 2013) and Institutional Class (renamed from Class I effective March 1, 2013) shares are sold at net asset value and are not subject to a sales charge. Prior to March 1, 2013, the date the sales charge was eliminated and the share class was renamed, Investor Class shares were generally sold subject to a sales charge of 5.75% imposed at time of purchase. The Fund previously offered Class C shares. At the close of business on March 15, 2013, Class C shares were merged into Investor Class shares. Each class represents a pro-rata interest in the Fund, but votes separately on class-specific matters and (as noted below) is subject to different expenses. Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based on the relative net assets of each class to the total net assets of the Fund. Each class of shares differs in its distribution plan and certain other class-specific expenses.

The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America.

A Investment Valuation — The following methodologies are used to determine the market value or fair value of investments.

Debt Obligations. Short-term obligations purchased with a remaining maturity of sixty days or less are generally valued at amortized cost, which approximates market value.

Affiliated Fund. The Fund may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). The value of the Fund’s investment in Cash Reserves Fund reflects the Fund’s proportionate interest in its net assets. Cash Reserves Fund generally values its investment securities utilizing the amortized cost valuation technique in accordance with Rule 2a-7 under the 1940 Act. This technique involves initially valuing a portfolio security at its cost and thereafter assuming a constant amortization to maturity of any discount or premium. If amortized cost is determined not to approximate fair value, Cash Reserves Fund may value its investment securities based on available market quotations provided by a third party pricing service.


		17

Parametric International Equity Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

At January 31, 2013, the Fund, for federal income tax purposes, had a capital loss carryforward of $94,897 and deferred capital losses of $5,327,635 which will reduce its taxable income arising from future net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus will reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability for federal income or excise tax. The capital loss carryforward will expire on January 31, 2019. The deferred capital losses are treated as arising on the first day of the Fund’s next taxable year and are treated as realized prior to the utilization of the capital loss carryforward.

J Interim Financial Statements — The interim financial statements relating to July 31, 2013 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Funds’ management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.

2 Distributions to Shareholders

It is the present policy of the Fund to make at least one distribution annually (normally in December) of all or substantially all of its net investment income and to distribute annually all or substantially all of its net realized capital gains (reduced by available capital loss carryforwards from prior years). Distributions to shareholders are recorded on the ex-dividend date. Distributions are declared separately for each class of shares. Shareholders may reinvest income and capital gain distributions in additional shares of the same class of the Fund at the net asset value as of the ex-dividend date or, at the election of the shareholder, receive distributions in cash. The Fund distinguishes between distributions on a tax basis and a financial reporting basis. Accounting principles generally accepted in the United States of America require that only distributions in excess of tax basis earnings and profits be reported in the financial statements as a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to paid-in capital. For tax purposes, distributions from short-term capital gains are considered to be from ordinary income.


		18

Parametric International Equity Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

3 Investment Adviser and Administration Fee and Other Transactions with Affiliates

The investment adviser and administration fee is earned by EVM as compensation for investment advisory and administrative services rendered to the Fund. Pursuant to the investment advisory and administrative agreement and subsequent fee reduction agreement between the Fund and EVM, the fee is computed at an annual rate of 0.75% of the Fund’s average daily net assets up to $500 million and is payable monthly. On net assets of $500 million and over, the annual fee is reduced. The fee reduction cannot be terminated without the consent of a majority of the Trustees and a majority of shareholders. For the six months ended July 31, 2013, the investment adviser and administration fee amounted to $236,137 or 0.75% (annualized) of the Fund’s average daily net assets. Pursuant to a sub-advisory agreement, EVM has delegated the investment management of the Fund to Parametric Portfolio Associates LLC (Parametric), a majority-owned subsidiary of Eaton Vance Corp. EVM pays Parametric a portion of its advisory and administration fee for sub-advisory services provided to the Fund. The Fund invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund.

EVM and Parametric have agreed to reimburse the Fund’s expenses to the extent that total annual operating expenses (relating to ordinary operating expenses only) exceed 1.05% and 0.80% of the Fund’s average daily net assets for Investor Class and Institutional Class, respectively, and prior to the close of business on March 15, 2013, 1.80% of the Fund’s average daily net assets for Class C. This agreement may be changed or terminated after May 31, 2014. Pursuant to this agreement, EVM and Parametric were allocated $118,639 in total of the Fund’s operating expenses for the six months ended July 31, 2013.

EVM serves as the sub-transfer agent of the Fund and receives from the transfer agent an aggregate fee based upon the actual expenses incurred by EVM in the performance of these services. For the six months ended July 31, 2013, EVM earned $592 in sub-transfer agent fees. The Fund was informed that Eaton Vance Distributors, Inc. (EVD), an affiliate of EVM and the Fund’s principal underwriter, received $194 as its portion of the sales charge on sales of Investor Class shares for the six months ended July 31, 2013. EVD also received distribution and services fees from Investor Class and Class C (prior to the close of business on March 15, 2013) (see Note 4).

Trustees and officers of the Fund who are members of EVM’s organization receive remuneration for their services to the Fund out of the investment adviser and administration fee. Trustees of the Fund who are not affiliated with EVM may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the six months ended July 31, 2013, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM.

4 Distribution Plans

The Fund has in effect a distribution plan for Investor Class shares (Investor Class Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Investor Class Plan, the Fund pays EVD a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Investor Class shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued to EVD for the six months ended July 31, 2013 amounted to $9,616 for Investor Class shares.

Prior to the close of business on March 15, 2013, the Fund also had in effect a distribution plan for Class C shares (Class C Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class C Plan, the Fund paid EVD amounts equal to 0.75% per annum of its average daily net assets attributable to Class C shares for providing ongoing distribution services and facilities to the Fund. For the six months ended July 31, 2013, the Fund paid or accrued to EVD $422 for Class C shares.

Pursuant to the Class C Plan (prior to the close of business on March 15, 2013), the Fund also made payments of service fees to EVD, financial intermediaries and other persons in amounts equal to 0.25% per annum of its average daily net assets attributable to Class C shares. Service fees paid or accrued are for personal services and/or the maintenance of shareholder accounts. They are separate and distinct from the sales commissions and distribution fees payable to EVD. Service fees paid or accrued for the six months ended July 31, 2013 amounted to $141 for Class C shares.

Distribution and service fees are subject to the limitations contained in the Financial Industry Regulatory Authority’s NASD Conduct Rule 2830(d).

5 Contingent Deferred Sales Charges

Prior to the close of business on March 15, 2013, a contingent deferred sales charge (CDSC) of 1% generally was imposed on redemptions of Class C shares made within one year of purchase. Class C shares that were merged into Investor Class shares continue to be subject to the Class C CDSC. Prior to March 1, 2013, Investor Class shares may have been subject to a 1% CDSC if redeemed within 18 months of purchase (depending on the circumstances of purchase). Generally, the CDSC is based upon the lower of the net asset value at date of redemption or date of purchase. No charge is levied on shares acquired by reinvestment of dividends or capital gain distributions. No CDSC is levied on shares which had been sold to EVM or its affiliates or to their respective employees or clients and may be waived under certain other limited conditions. For the six months ended July 31, 2013, the Fund was informed that EVD received no CDSCs paid by Investor Class and Class C shareholders.


		19

Parametric International Equity Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

6 Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $10,247,370 and $6,478,471, respectively, for the six months ended July 31, 2013.

7 Shares of Beneficial Interest


Investor Class	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013

Sales		235,562			609,678
Issued to shareholders electing to receive payments of distributions in Fund shares		—			14,798
Redemptions		(129,527	)		(1,239,459	)
Merger from Class C shares		45,498			—

Net increase (decrease)		151,533			(614,983	)


Class C	Six Months Ended July 31, 2013 (Unaudited)⁽¹⁾			Year Ended January 31, 2013

Sales		6,372			23,268
Issued to shareholders electing to receive payments of distributions in Fund shares		—			778
Redemptions		(5	)		(10,360	)
Merger to Investor Class shares		(45,969	)		—

Net increase (decrease)		(39,602	)		13,686


Institutional Class	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013

Sales		475,521			1,468,321
Issued to shareholders electing to receive payments of distributions in Fund shares		—			40,243
Redemptions		(326,169	)		(1,325,254	)

Net increase		149,352			183,310

⁽¹⁾	Offering of Class C shares was discontinued during the six months ended July 31, 2013 (see Note 1).

At July 31, 2013, donor advised and pooled income funds (established and maintained by a public charity) managed by EVM and an EVM retirement plan owned 29.9% and 15.0%, respectively, of the value of the outstanding shares of the Fund.


		20

Parametric International Equity Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

8 Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2013, as determined on a federal income tax basis, were as follows:



Aggregate cost	$	56,317,521

Gross unrealized appreciation	$	11,818,110
Gross unrealized depreciation		(1,539,058	)

Net unrealized appreciation	$	10,279,052

9 Line of Credit

The Fund participates with other portfolios and funds managed by EVM and its affiliates in a $600 million unsecured line of credit agreement with a group of banks. Borrowings are made by the Fund solely to facilitate the handling of unusual and/or unanticipated short-term cash requirements. Interest is charged to the Fund based on its borrowings at an amount above either the Eurodollar rate or Federal Funds rate. In addition, a fee computed at an annual rate of 0.08% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. Because the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time. The Fund did not have any significant borrowings or allocated fees during the six months ended July 31, 2013.

10 Risks Associated with Foreign Investments

11 Fair Value Measurements

Level 1 – quoted prices in active markets for identical investments

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)


		21

Parametric International Equity Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

At July 31, 2013, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:


Asset Description	Level 1		Level 2			Level 3		Total

Common Stocks
Asia/Pacific	$	—	$	18,365,349		$	—	$	18,365,349
Developed Europe		37,238		46,282,159			—		46,319,397
Developed Middle East		473,939		1,020,261			—		1,494,200
Total Common Stocks	$	511,177	$	65,667,769	*	$	—	$	66,178,946

Rights	$	2,490	$	—		$	—	$	2,490
Short-Term Investments		—		415,137			—		415,137
Total Investments	$	513,667	$	66,082,906		$	—	$	66,596,573

*	Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The Fund held no investments or other financial instruments as of January 31, 2013 whose fair value was determined using Level 3 inputs. At July 31, 2013, the value of investments transferred between Level 1 to Level 2 during the six months then ended was not significant.

12 Name Change

Effective March 1, 2013, the name of the Parametric International Equity Fund was changed from Eaton Vance Parametric Structured International Equity Fund.


		22

Parametric International Equity Fund

July 31, 2013

Board of Trustees’ Contract Approval

Overview of the Contract Review Process

The Investment Company Act of 1940, as amended (the “1940 Act”), provides, in substance, that each investment advisory agreement between a fund and its investment adviser will continue in effect from year to year only if its continuation is approved at least annually by the fund’s board of trustees, including by a vote of a majority of the trustees who are not “interested persons” of the fund (“Independent Trustees”), cast in person at a meeting called for the purpose of considering such approval.

At a meeting of the Boards of Trustees (each a “Board”) of the Eaton Vance group of mutual funds (the “Eaton Vance Funds”) held on April 23, 2013, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing advisory and sub-advisory agreements for the Eaton Vance Funds for an additional one-year period. In voting its approval, the Board relied upon the affirmative recommendation of the Contract Review Committee of the Board, which is a committee comprised exclusively of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by each adviser to the Eaton Vance Funds (including information specifically requested by the Board) for a series of meetings of the Contract Review Committee held between February and April 2013, as well as information considered during prior meetings of the committee. Such information included, among other things, the following:

Information about Fees, Performance and Expenses

An independent report comparing the advisory and related fees paid by each fund with fees paid by comparable funds;

An independent report comparing each fund’s total expense ratio and its components to comparable funds;

An independent report comparing the investment performance of each fund (including, where relevant, yield data, Sharpe ratios and information ratios) to the investment performance of comparable funds over various time periods;

Data regarding investment performance in comparison to benchmark indices and customized peer groups, in each case as approved by the Board with respect to the funds;

For each fund, comparative information concerning the fees charged and the services provided by each adviser in managing other accounts (including mutual funds, other collective investment funds and institutional accounts) using investment strategies and techniques similar to those used in managing such fund;

Profitability analyses for each adviser with respect to each fund;

Information about Portfolio Management and Trading

Descriptions of the investment management services provided to each fund, including the investment strategies and processes employed, and any changes in portfolio management processes and personnel;

Information about the allocation of brokerage and the benefits received by each adviser as a result of brokerage allocation, including information concerning the acquisition of research through client commission arrangements and the fund’s policies with respect to “soft dollar” arrangements;

Data relating to portfolio turnover rates of each fund;

The procedures and processes used to determine the fair value of fund assets and actions taken to monitor and test the effectiveness of such procedures and processes;

Information about each adviser’s processes for monitoring best execution of portfolio transactions, and other policies and practices of each adviser with respect to trading;

Information about each Adviser

Reports detailing the financial results and condition of each adviser;

Descriptions of the qualifications, education and experience of the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and information relating to their compensation and responsibilities with respect to managing other mutual funds and investment accounts;

Copies of the Codes of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

Copies of or descriptions of each adviser’s policies and procedures relating to proxy voting, the handling of corporate actions and class actions;

Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates on behalf of the funds (including descriptions of various compliance programs) and their record of compliance with investment policies and restrictions, including policies with respect to market-timing, late trading and selective portfolio disclosure, and with policies on personal securities transactions;

Descriptions of the business continuity and disaster recovery plans of each adviser and its affiliates;

A description of Eaton Vance Management’s procedures for overseeing third party advisers and sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters;


		23

Parametric International Equity Fund

July 31, 2013

Board of Trustees’ Contract Approval — continued

Other Relevant Information

Information concerning the nature, cost and character of the administrative and other non-investment management services provided by Eaton Vance Management and its affiliates;

Information concerning management of the relationship with the custodian, subcustodians and fund accountants by each adviser or the funds’ administrator; and

The terms of each advisory agreement.

In addition to the information identified above, the Contract Review Committee considered information provided from time to time by each adviser throughout the year at meetings of the Board and its committees. Over the course of the twelve-month period ended April 30, 2013, with respect to one or more funds, the Board met eight times and the Contract Review Committee, the Audit Committee, the Governance Committee, the Portfolio Management Committee and the Compliance Reports and Regulatory Matters Committee, each of which is a Committee comprised solely of Independent Trustees, met eight, twenty-one, five, nine and thirteen times respectively. At such meetings, the Trustees participated in investment and performance reviews with the portfolio managers and other investment professionals of each adviser relating to each fund. The Board and its Committees considered the investment and trading strategies used in pursuing each fund’s investment objective, including, where relevant, the use of derivative instruments, as well as processes for monitoring best execution of portfolio transactions and risk management techniques. The Board and its Committees also evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management and other fund advisers with respect to such matters.

For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of advisory agreements. In addition, in cases where the fund’s investment adviser has engaged a sub-adviser, the Board considered similar information about the sub-adviser when considering the approval of any sub-advisory agreement.

The Contract Review Committee was assisted throughout the contract review process by Goodwin Procter LLP, legal counsel for the Independent Trustees. The members of the Contract Review Committee relied upon the advice of such counsel and their own business judgment in determining the material factors to be considered in evaluating each advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each advisory and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each advisory and sub-advisory agreement.

Results of the Process

Based on its consideration of the foregoing, and such other information as it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory and administrative agreement of Parametric International Equity Fund (formerly Eaton Vance Parametric Structured International Equity Fund) (the “Fund”) with Eaton Vance Management (the “Adviser”) and the sub-advisory agreement with Parametric Portfolio Associates LLC (the “Sub-adviser”), an affiliate of Eaton Vance Management, including their fee structures, is in the interests of shareholders and, therefore, the Contract Review Committee recommended to the Board approval of each agreement. The Board accepted the recommendation of the Contract Review Committee as well as the factors considered and conclusions reached by the Contract Review Committee with respect to the agreements. Accordingly, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory and administrative agreement and the sub-advisory agreement for the Fund.

Nature, Extent and Quality of Services

In considering whether to approve the investment advisory and administrative agreement and the sub-advisory agreement of the Fund, the Board evaluated the nature, extent and quality of services provided to the Fund by the Adviser and the Sub-adviser.

The Board considered the Adviser’s and the Sub-adviser’s management capabilities and investment process with respect to the types of investments held by the Fund, including the education, experience and number of its investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Fund. With respect to the Adviser, the Board considered the Adviser’s responsibilities supervising the Sub-adviser. With respect to the Sub-adviser, the Board considered the abilities and experience of investment personnel in analyzing factors such as special considerations relevant to investing in global markets. The Board noted the Adviser’s in-house equity research capabilities. With respect to the Sub-adviser, the Board noted the Sub-adviser’s experience in deploying quantitative-based investment strategies. The Board also took into account the resources dedicated to portfolio management and other services, including the compensation methods of the Adviser to recruit and retain investment personnel, and the time and attention devoted to the Fund by senior management.

The Board reviewed the compliance programs of the Adviser and relevant affiliates thereof, including the Sub-adviser. Among other matters, the Board considered compliance and reporting matters relating to personal trading by investment personnel, selective disclosure of portfolio holdings, late trading, frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also evaluated the responses of the Adviser and its affiliates to requests in recent years from regulatory authorities such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.


		24

Parametric International Equity Fund

July 31, 2013

Board of Trustees’ Contract Approval — continued

The Board considered shareholder and other administrative services provided or managed by Eaton Vance Management and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large family of funds, including the ability, in many cases, to exchange an investment among different funds without incurring additional sales charges.

After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by the Adviser and the Sub-adviser, taken as a whole, are appropriate and consistent with the terms of the investment advisory and administrative agreement and the sub-advisory agreement.

Fund Performance

The Board compared the Fund’s investment performance to a relevant universe of similarly managed funds identified by an independent data provider and appropriate benchmark indices. The Board reviewed comparative performance data for the one-year period ended September 30, 2012 for the Fund. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board reviewed contractual investment advisory and administrative fee rates payable by the Fund (referred to as “management fees”). As part of its review, the Board considered the management fees and the Fund’s total expense ratio for the year ended September 30, 2012, as compared to a group of similarly managed funds selected by an independent data provider. The Board noted that the Adviser had waived fees and/or paid expenses for the Fund. The Board also considered factors that had an impact on Fund expense ratios, as identified by management in response to inquiries from the Contract Review Committee, as well as actions taken by management in recent years to reduce expenses at the Eaton Vance fund complex level, including the negotiation of reduced fees for transfer agency and custody services.

After reviewing the foregoing information, and in light of the nature, extent and quality of the services provided by the Adviser and the Sub-adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.

Profitability

The Board reviewed the level of profits realized by the Adviser and relevant affiliates thereof, including the Sub-adviser, in providing investment advisory and administrative services to the Fund and to all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to revenue sharing or other payments by the Adviser and its affiliates to third parties in respect of distribution services. The Board also considered other direct or indirect benefits received by the Adviser and its affiliates, including the Sub-adviser, in connection with their relationships with the Fund, including the benefits of research services that may be available to the Adviser or the Sub-adviser as a result of securities transactions effected for the Fund and other investment advisory clients.

The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by the Adviser and its affiliates, including the Sub-adviser, are reasonable.

Economies of Scale

In reviewing management fees and profitability, the Board also considered the extent to which the Adviser and its affiliates, on the one hand, and the Fund, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from the economies of scale with respect to the management of any specific fund or group of funds. The Board reviewed data summarizing the increases and decreases in the assets of the Fund and of all Eaton Vance Funds as a group over various time periods, and evaluated the extent to which the total expense ratio of the Fund and the profitability of the Adviser and its affiliates may have been affected by such increases or decreases. Based upon the foregoing, the Board concluded that the Fund currently shares in the benefits from economies of scale. The Board also concluded that, assuming reasonably foreseeable increases in the assets of the Fund, the structure of the advisory fee, which includes breakpoints at several asset levels, will allow the Fund to continue to benefit from economies of scale in the future.


		25

Parametric International Equity Fund

July 31, 2013

Officers and Trustees

Officers of Parametric International Equity Fund

Duncan W. Richardson

President

Payson F. Swaffield

Vice President

Maureen A. Gemma

Vice President, Secretary and

Chief Legal Officer

James F. Kirchner

Treasurer

Paul M. O’Neil

Chief Compliance Officer

Trustees of Parametric International Equity Fund

Ralph F. Verni

Chairman

Scott E. Eston

Benjamin C. Esty

Thomas E. Faust Jr.*

Allen R. Freedman

William H. Park

Ronald A. Pearlman

Helen Frame Peters

Lynn A. Stout

Harriett Tee Taggart

*	Interested Trustee


		26

Eaton Vance Funds

IMPORTANT NOTICES

Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.


		27

This Page Intentionally Left Blank

Investment Adviser and Administrator

Eaton Vance Management

Two International Place

Boston, MA 02110

Sub-Adviser

Parametric Portfolio Associates LLC

1918 Eighth Avenue, Suite 3100

Seattle, WA 98101

Principal Underwriter*

Eaton Vance Distributors, Inc.

Two International Place

Boston, MA 02110

(617) 482-8260

Custodian

State Street Bank and Trust Company

200 Clarendon Street

Boston, MA 02116

Transfer Agent

BNY Mellon Asset Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 262-1122

Fund Offices

Two International Place

Boston, MA 02110

LOGO


4736-9/13		SIESRC

LOGO

Parametric Emerging Markets Fund

Semiannual Report

July 31, 2013

LOGO

Semiannual Report July 31, 2013

Parametric Emerging Markets Fund

Table of Contents


Performance			2

Fund Profile			3

Endnotes and Additional Disclosures			4

Fund Expenses			5

Financial Statements			6

Board of Trustees’ Contract Approval			38

Officers and Trustees			41

Important Notices			42

Parametric Emerging Markets Fund

July 31, 2013

Performance^1,2

Portfolio Managers David Stein, Ph.D. and Thomas Seto, each of Parametric Portfolio Associates LLC


% Average Annual Total Returns	Class Inception Date		Performance Inception Date		Six Months			One Year			Five Years			Since Inception
Investor Class at NAV		06/30/2006		06/30/2006		–6.88	%		6.54	%		0.57	%		6.01	%
Class C at NAV		06/30/2006		06/30/2006		–7.20			5.73			–0.17			5.21
Class C with 1% Maximum Sales Charge		—		—		–8.13			4.73			–0.17			5.21
Institutional Class at NAV		06/30/2006		06/30/2006		–6.79			6.80			0.84			6.27
MSCI Emerging Markets Index		—		06/30/2006		–9.87	%		1.95	%		0.55	%		5.89	%


% Total Annual Operating Expense Ratios³								Investor Class			Class C			Institutional Class
									1.42	%		2.16	%		1.16	%

See Endnotes and Additional Disclosures in this report.


		2

Parametric Emerging Markets Fund

July 31, 2013

Fund Profile

Sector Allocation (% of net assets)⁴

LOGO

Geographic Allocation (% of common stocks)

LOGO

Top 10 Holdings (% of net assets)⁴


MTN Group, Ltd.	1.1	%
Samsung Electronics Co., Ltd.	1.1
China Mobile, Ltd.	0.9
OAO Gazprom ADR	0.8
America Movil SAB de CV, Series L	0.7
Taiwan Semiconductor Manufacturing Co., Ltd.	0.6
Tencent Holdings, Ltd.	0.6
Naspers, Ltd., Class N	0.6
Infosys, Ltd.	0.6
Sberbank of Russia	0.6
Total	7.6	%

See Endnotes and Additional Disclosures in this report.


		3

Parametric Emerging Markets Fund

July 31, 2013

Endnotes and Additional Disclosures

MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. MSCI indices are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares.

³	Source: Fund prospectus.

⁴	Excludes cash and cash equivalents.

Fund profile subject to change due to active management.


		4

Parametric Emerging Markets Fund

July 31, 2013

Fund Expenses


	Beginning Account Value (2/1/13)		Ending Account Value (7/31/13)		Expenses Paid During Period* (2/1/13 – 7/31/13)		Annualized Expense Ratio


Actual
Investor Class	$	1,000.00	$	931.20	$	6.66		1.39	%
Class C	$	1,000.00	$	928.00	$	10.23		2.14	%
Institutional Class	$	1,000.00	$	932.10	$	5.46		1.14	%



Hypothetical
(5% return per year before expenses)
Investor Class	$	1,000.00	$	1,017.90	$	6.95		1.39	%
Class C	$	1,000.00	$	1,014.20	$	10.69		2.14	%
Institutional Class	$	1,000.00	$	1,019.10	$	5.71		1.14	%


		5

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited)


Common Stocks — 97.6%


Security	Shares		Value


Argentina — 0.8%
Adecoagro SA⁽¹⁾		77,700	$	508,935
Arcos Dorados Holdings, Inc., Class A		341,000		4,112,460
Banco Macro SA, Class B ADR⁽¹⁾		129,587		1,950,284
BBVA Banco Frances SA ADR⁽¹⁾		231,888		939,147
Cresud SA ADR		278,630		2,073,007
Grupo Financiero Galicia SA, Class B ADR		322,600		1,751,718
IRSA Inversiones y Representaciones SA ADR		61,510		478,548
MercadoLibre, Inc.		69,300		8,137,899
Pampa Energia SA ADR⁽¹⁾		188,600		629,924
Petrobras Energia SA ADR		750,308		3,121,281
Telecom Argentina SA ADR⁽¹⁾		477,251		7,731,466

			$	31,434,669


Bangladesh — 0.3%
Aftab Automobiles, Ltd.⁽¹⁾		256,900	$	359,707
Bangladesh Export Import Co., Ltd.⁽¹⁾		2,411,100		1,072,736
Beximco Pharmaceuticals, Ltd.⁽¹⁾		448,850		267,164
BSRM Steels, Ltd.		1,044,000		953,672
City Bank, Ltd. (The)⁽¹⁾		1,231,400		292,791
Grameenphone, Ltd.		354,200		842,544
Islami Bank Bangladesh, Ltd.		1,971,400		913,319
Khulna Power Co., Ltd.		466,200		313,801
Lankabangla Finance, Ltd.⁽¹⁾		1,242,500		817,334
Malek Spinning Mills, Ltd.⁽¹⁾		897,500		313,078
National Bank, Ltd.		5,239,800		848,856
People’s Leasing and Financial Services, Ltd.⁽¹⁾		1,390,000		414,501
Pubali Bank, Ltd.		694,050		285,442
Social Islami Bank, Ltd.		1,902,500		305,716
Square Pharmaceuticals, Ltd.		462,250		1,258,761
Summit Power, Ltd.⁽¹⁾		608,000		273,583
Titas Gas Transmission & Distribution Co., Ltd.		1,160,000		1,267,786
United Airways Bangladesh, Ltd.⁽¹⁾		2,353,500		595,380
United Commercial Bank, Ltd.		1,544,750		373,378

			$	11,769,549


Botswana — 0.2%
Barclays Bank of Botswana		1,137,465	$	845,335
Botswana Insurance Holdings Ltd.		575,111		696,525
First National Bank of Botswana		5,567,200		2,314,792
Letshego Holdings, Ltd.		12,485,691		3,293,811
Sechaba Breweries Ltd.		905,550		1,831,215
Standard Chartered Bank Botswana		531,120		716,708

			$	9,698,386


Security	Shares		Value


Brazil — 6.3%
AES Tiete SA, PFC Shares		189,400	$	1,872,124
All America Latina Logistica SA (Units)		603,600		2,333,597
Anhanguera Educacional Participacoes SA		307,100		1,861,702
B2W Companhia Global do Varejo⁽¹⁾		176,170		818,551
Banco Bradesco SA ADR, PFC Shares		67,291		822,296
Banco Bradesco SA, PFC Shares		1,193,731		14,494,202
Banco do Brasil SA		561,098		5,575,686
Banco do Estado do Rio Grande do Sul, PFC Shares		164,900		1,101,574
Banco Santander Brasil SA		533,700		3,183,929
BM&F Bovespa SA		962,351		5,188,558
BR Malls Participacoes SA		296,000		2,623,499
BR Properties SA		153,300		1,270,024
Bradespar SA, PFC Shares		121,000		1,188,068
Braskem SA, PFC Shares		89,760		691,687
BRF-Brasil Foods SA		338,540		7,211,977
BRF-Brasil Foods SA ADR		19,900		426,457
Brookfield Incorporacoes SA⁽¹⁾		842,100		612,745
Centrais Eletricas Brasileiras SA		471,100		1,718,085
CETIP SA - Mercados Organizados		173,900		1,753,216
Cia Brasileira de Distribuicao Grupo Pao de Acucar, PFC Shares		63,069		2,797,445
Cia de Bebidas das Americas ADR, PFC Shares		28,352		1,071,139
Cia de Bebidas das Americas, PFC Shares		431,690		16,275,301
Cia de Concessoes Rodoviarias SA (CCR)		953,100		7,478,243
Cia de Saneamento Basico do Estado de Sao Paulo		393,660		4,037,804
Cia de Saneamento de Minas Gerais-COPASA		72,900		1,156,443
Cia de Transmissao de Energia Eletrica Paulista, PFC Shares		49,290		732,431
Cia Energetica de Minas Gerais SA ADR		64,440		596,714
Cia Energetica de Minas Gerais SA, PFC Shares		530,611		4,851,752
Cia Energetica de Sao Paulo, PFC Shares		228,700		2,013,976
Cia Hering		102,400		1,373,503
Cia Paranaense de Energia-Copel, PFC Shares		123,300		1,511,153
Cia Siderurgica Nacional SA		365,800		1,053,458
Cielo SA		402,999		9,934,760
Contax Participacoes SA, PFC Shares		121,500		167,763
Cosan SA Industria e Comercio		53,700		1,018,284
CPFL Energia SA		242,100		2,240,222
Cyrela Brazil Realty SA		221,300		1,580,195
Diagnosticos da America SA		215,900		1,130,912
Duratex SA		102,326		585,784
EcoRodovias Infraestrutura e Logistica SA		174,100		1,224,847
EDP-Energias do Brasil SA		313,400		1,622,396
Eletropaulo Metropolitana SA, Class B, PFC Shares		210,580		563,984
Embraer SA		418,300		3,557,113
Embraer SA ADR		85,948		2,919,654


		6		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Brazil (continued)
Estacio Participacoes SA		167,700	$	1,295,230
Fibria Celulose SA⁽¹⁾		111,757		1,244,275
Gafisa SA⁽¹⁾		632,800		765,568
Gerdau SA, PFC Shares		428,500		2,740,402
Gol Linhas Aereas Inteligentes SA, PFC Shares		204,000		699,270
Hypermarcas SA		267,800		1,938,053
Iochpe-Maxion SA		115,700		1,272,961
Itau Unibanco Holding SA ADR, PFC Shares		78,727		1,003,769
Itau Unibanco Holding SA, PFC Shares		1,093,590		13,968,577
Itausa-Investimentos Itau SA, PFC Shares		2,081,181		7,635,604
JBS SA		583,825		1,630,160
Klabin SA, PFC Shares		260,000		1,262,761
Light SA		132,200		1,025,682
LLX Logistica SA⁽¹⁾		1,596,000		671,602
Localiza Rent a Car SA		157,980		2,250,575
Lojas Americanas SA, PFC Shares		340,423		2,374,090
Lojas Renner SA		78,300		2,073,036
Marcopolo SA, PFC Shares		475,100		2,696,888
Marfrig Frigorificos e Comercio de Alimentos SA⁽¹⁾		287,155		907,527
Metalurgica Gerdau SA, PFC Shares		148,000		1,182,651
MMX Mineracao e Metalicos SA⁽¹⁾		830,800		600,881
MPX Energia SA⁽¹⁾		300,500		915,456
MRV Engenharia e Participacoes SA		338,300		962,398
Natura Cosmeticos SA		120,900		2,435,117
OGX Petroleo e Gas Participacoes SA⁽¹⁾		1,965,400		568,595
Oi SA ADR		190,200		351,870
Oi SA, PFC Shares		1,257,857		2,310,220
PDG Realty SA Empreendimentos e Participacoes⁽¹⁾		1,224,600		987,689
Petroleo Brasileiro SA		43,200		291,238
Petroleo Brasileiro SA ADR		71,900		1,031,046
Petroleo Brasileiro SA, PFC Shares		3,018,600		21,554,340
Randon Participacoes SA, PFC Shares		242,800		1,254,789
Rossi Residencial SA⁽¹⁾		716,100		834,956
Souza Cruz SA		228,000		2,746,374
Suzano Papel e Celulose SA		437,425		1,491,734
Telefonica Brasil SA, PFC Shares		304,426		6,446,543
Tim Participacoes SA		851,027		3,163,350
Totvs SA		191,090		3,015,425
Tractebel Energia SA		154,500		2,465,119
Ultrapar Participacoes SA		184,384		4,376,529
Usinas Siderurgicas de Minas Gerais SA, PFC Shares		283,250		1,081,424
Vale SA		34,400		467,744
Vale SA ADR		65,300		895,916
Vale SA, PFC Shares		1,468,440		18,119,353
Weg SA		214,700		2,635,106

			$	255,885,146


Security	Shares		Value


Bulgaria — 0.1%
CB First Investment Bank AD⁽¹⁾		235,000	$	375,775
Chimimport AD⁽¹⁾		329,922		295,374
Corporate Commercial Bank AD⁽¹⁾		10,400		597,340
MonBat AD		60,235		283,387
Petrol AD⁽¹⁾		102,500		298,677
Sopharma AD		354,600		805,413

			$	2,655,966


Chile — 3.1%
Administradora de Fondos de Pensiones Provida SA		346,200	$	2,021,212
AES Gener SA		3,010,000		1,962,343
Aguas Andinas SA, Series A		3,899,500		2,731,964
Almendral SA		2,512,600		310,499
Antarchile SA, Series A		173,104		2,459,199
Banco de Chile		50,509,880		7,205,165
Banco de Chile ADR		7,286		626,669
Banco de Credito e Inversiones		77,574		4,234,603
Banco Santander Chile SA		119,001,110		6,658,133
Banmedica SA		484,730		943,330
Besalco SA		1,019,500		1,240,026
Cap SA		120,912		2,164,580
Cencosud SA		1,483,631		6,741,809
CFR Pharmaceuticals SA		4,417,100		962,762
Cia Cervecerias Unidas SA		166,590		2,251,567
Cia General de Electricidad SA		368,219		2,221,639
Cia Sud Americana de Vapores SA⁽¹⁾		3,305,599		176,908
Colbun SA		9,412,410		2,427,059
Corpbanca SA		358,531,770		3,558,455
E.CL SA		693,400		1,072,790
Embotelladora Andina SA, Class B, PFC Shares		315,241		1,656,419
Empresa Nacional de Electricidad SA		3,985,163		5,258,228
Empresas CMPC SA		1,993,020		5,817,904
Empresas Copec SA		764,476		9,923,236
Empresas La Polar SA⁽¹⁾		1,713,400		406,801
Enersis SA		25,224,721		7,601,534
ENTEL SA		134,000		2,213,992
Grupo Security SA		1,737,289		622,057
Inversiones Aguas Metropolitanas SA		614,900		1,161,950
Inversiones La Construccion SA		54,000		696,215
Latam Airlines Group SA		362,395		4,881,066
Latam Airlines Group SA BDR		28,260		375,338
Madeco SA		5,047,652		155,207
Molibdenos y Metales SA		65,700		1,048,438
Parque Arauco SA		1,208,000		2,581,032
Quinenco SA		190,344		472,702


		7		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Chile (continued)
Ripley Corp. SA		1,255,600	$	951,749
S.A.C.I. Falabella SA		1,243,800		12,707,891
Salfacorp SA		1,537,800		1,514,307
Sigdo Koppers SA		1,000,231		1,732,423
Sociedad de Inversiones Pampa Calichera SA, Class A		219,730		196,703
Sociedad Matriz SAAM SA		6,242,812		550,354
Sociedad Quimica y Minera de Chile SA, Series B		179,740		5,176,904
Socovesa SA		1,443,206		421,292
Sonda SA		1,526,200		3,977,001
Vina Concha y Toro SA		727,222		1,316,175

			$	125,387,630


China — 9.8%
Agile Property Holdings, Ltd.		792,000	$	831,400
Agricultural Bank of China, Ltd., Class H		8,901,000		3,598,788
Air China, Ltd., Class H		2,310,000		1,562,461
Aluminum Corp. of China, Ltd., Class H⁽¹⁾		3,374,000		1,037,729
Angang Steel Co., Ltd., Class H⁽¹⁾		1,226,000		672,447
Anhui Conch Cement Co., Ltd., Class H		906,500		2,672,949
Anta Sports Products, Ltd.		1,021,000		1,148,459
AsiaInfo-Linkage, Inc.⁽¹⁾		72,600		845,790
Baidu, Inc. ADR⁽¹⁾		139,600		18,470,476
Bank of China, Ltd., Class H		25,792,000		10,766,045
Bank of Communications, Ltd., Class H		3,583,900		2,330,964
Beijing Capital International Airport Co., Ltd., Class H		1,568,000		971,705
Beijing Enterprises Holdings, Ltd.		309,500		2,060,312
Belle International Holdings, Ltd.		1,079,000		1,555,874
BYD Co., Ltd., Class H⁽¹⁾		607,200		2,370,266
Chaoda Modern Agriculture Holdings, Ltd.⁽¹⁾⁽²⁾		2,391,958		0
China Agri-Industries Holdings, Ltd.		2,074,000		962,049
China Bluechemical, Ltd., Class H		1,270,000		585,808
China CITIC Bank Corp., Ltd., Class H		4,367,000		2,019,724
China Coal Energy Co., Class H		3,400,000		1,813,117
China Communications Construction Co., Ltd., Class H		2,930,000		2,237,494
China Communications Services Corp., Ltd., Class H		2,540,000		1,660,133
China Construction Bank Corp., Class H		29,638,630		22,098,569
China COSCO Holdings Co., Ltd., Class H⁽¹⁾		2,694,975		1,110,777
China Dongxiang (Group) Co., Ltd.		4,257,000		762,153
China Eastern Airlines Corp., Ltd., Class H⁽¹⁾		1,120,000		343,352
China Everbright International, Ltd.		1,986,000		1,808,215
China Everbright, Ltd.		536,000		759,129
China High Speed Transmission Equipment Group Co., Ltd.⁽¹⁾		2,184,000		984,014
China International Marine Containers Co., Ltd., Class B		482,672		783,311
China Life Insurance Co., Ltd., Class H		2,896,000		6,939,148
China Longyuan Power Group Corp., Class H		2,266,000		2,389,088


Security	Shares		Value


China (continued)
China Mengniu Dairy Co., Ltd.		960,000	$	3,853,342
China Merchants Bank Co., Ltd., Class H		1,723,524		2,889,853
China Merchants Holdings (International) Co., Ltd.		710,035		2,217,114
China Minsheng Banking Corp., Ltd., Class H		2,172,700		2,196,744
China Mobile, Ltd.		3,333,500		35,418,634
China National Building Material Co., Ltd., Class H		2,124,000		1,914,168
China Oilfield Services, Ltd., Class H		1,090,000		2,467,683
China Overseas Land & Investment, Ltd.		1,530,160		4,394,708
China Pacific Insurance (Group) Co., Ltd., Class H		848,000		2,834,703
China Petroleum & Chemical Corp., Class H		14,806,300		10,997,063
China Pharmaceutical Group, Ltd.		1,402,000		736,879
China Railway Construction Corp., Class H		1,592,000		1,616,119
China Railway Group, Ltd., Class H		3,177,000		1,702,648
China Resources Enterprise, Ltd.		842,000		2,593,821
China Resources Gas Group, Ltd.		642,000		1,603,581
China Resources Land, Ltd.		784,000		2,151,218
China Resources Power Holdings Co., Ltd.		1,365,600		3,181,307
China Shenhua Energy Co., Ltd., Class H		2,164,500		6,247,591
China Shineway Pharmaceutical Group, Ltd.		381,000		623,421
China Shipping Container Lines Co., Ltd., Class H⁽¹⁾		4,252,000		1,029,095
China Shipping Development Co., Ltd., Class H⁽¹⁾		1,702,000		738,297
China Southern Airlines Co., Ltd., Class H		2,700,000		990,692
China Taiping Insurance Holdings Co., Ltd.⁽¹⁾		573,400		791,864
China Telecom Corp., Ltd., Class H		10,096,000		5,014,016
China Travel International Investment Hong Kong, Ltd.		4,692,000		858,605
China Unicom (Hong Kong), Ltd.		3,210,372		4,740,780
China Vanke Co., Ltd., Class B		667,820		1,210,448
China Yurun Food Group, Ltd.⁽¹⁾		1,776,000		1,241,889
China Zhongwang Holdings, Ltd.⁽¹⁾		464,000		132,741
Chongqing Changan Automobile Co., Ltd., Class B		1,100,286		1,246,558
Citic Pacific, Ltd.		1,152,000		1,254,138
CNOOC, Ltd.		9,135,000		16,486,353
Cosco Pacific, Ltd.		1,516,000		2,123,805
Country Garden Holdings Co.		3,294,631		1,862,013
Ctrip.com International, Ltd. ADR⁽¹⁾		252,800		9,260,064
Datang International Power Generation Co., Ltd., Class H		3,414,000		1,530,326
Dongfeng Motor Group Co., Ltd., Class H		1,966,000		2,629,639
Golden Eagle Retail Group, Ltd.		739,000		1,085,571
Great Wall Motor Co., Ltd., Class H		862,500		4,031,002
Guangdong Investment, Ltd.		2,022,000		1,634,398
Guangzhou Automobile Group Co., Ltd., Class H		1,892,013		1,835,601
Guangzhou R&F Properties Co., Ltd., Class H		682,000		1,056,297
Hengan International Group Co., Ltd.		149,500		1,645,119
Hengdeli Holdings, Ltd.		2,681,800		690,936
Hidili Industry International Development, Ltd.⁽¹⁾		594,000		96,371


		8		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


China (continued)
Home Inns & Hotels Management, Inc. ADR⁽¹⁾		50,000	$	1,390,500
Huaneng Power International, Inc., Class H		2,746,000		2,863,547
Industrial & Commercial Bank of China, Ltd., Class H		29,700,000		19,507,239
Inner Mongolia Eerduosi Cashmere Products Co., Ltd., Class B		401,700		349,356
Inner Mongolia Yitai Coal Co., Ltd., Class B		669,000		1,525,163
Jiangsu Expressway Co., Ltd., Class H		1,152,000		1,190,969
Jiangxi Copper Co., Ltd., Class H		1,092,000		1,834,755
Kingboard Chemical Holdings, Ltd.		648,600		1,422,440
Kunlun Energy Co., Ltd.		2,206,000		3,240,021
Lee & Man Paper Manufacturing, Ltd.		1,220,000		793,475
Lenovo Group, Ltd.		3,736,000		3,401,917
Li Ning Co., Ltd.⁽¹⁾		255,500		158,296
Maanshan Iron & Steel Co., Ltd., Class H⁽¹⁾		2,294,000		546,396
Mindray Medical International, Ltd. ADR		59,100		2,420,145
NetEase.com, Inc. ADR		48,000		3,058,080
New Oriental Education & Technology Group, Inc. ADR		488,600		10,842,034
Nine Dragons Paper Holdings, Ltd.		1,753,000		1,105,741
PetroChina Co., Ltd., Class H		11,966,000		13,962,338
PICC Property & Casualty Co., Ltd., Class H		1,918,000		2,137,309
Ping An Insurance (Group) Co. of China, Ltd., Class H		769,500		4,977,338
Poly Property Group Co., Ltd.		1,374,000		745,395
Renhe Commercial Holdings Co., Ltd.⁽¹⁾		6,322,000		374,916
Semiconductor Manufacturing International Corp.⁽¹⁾		23,397,000		1,723,325
Shandong Weigao Group Medical Polymer Co., Ltd., Class H		1,396,000		1,316,548
Shanghai Electric Group Co., Ltd., Class H		2,414,000		814,592
Shanghai Industrial Holdings, Ltd.		304,000		943,569
Shimao Property Holdings, Ltd.		665,000		1,397,368
SINA Corp.⁽¹⁾		43,500		3,000,195
Sino Biopharmaceutical, Ltd.		2,052,000		1,491,062
Sino-Ocean Land Holdings, Ltd.		1,720,500		881,447
Sinopec Shanghai Petrochemical Co., Ltd., Class H⁽¹⁾		1,954,000		601,404
Sinopharm Group Co., Ltd., Class H		374,800		1,028,238
Sinotrans Shipping, Ltd.		1,000,000		238,323
Sohu.com, Inc.⁽¹⁾		38,400		2,398,848
Sound Global, Ltd.⁽¹⁾		691,000		327,197
Standard Chartered PLC		42,786		977,515
Sun Art Retail Group, Ltd.		1,476,000		2,042,953
Tencent Holdings, Ltd.		510,800		23,122,899
Tingyi (Cayman Islands) Holding Corp.		1,266,000		3,127,334
Tsingtao Brewery Co., Ltd., Class H		254,000		1,944,455
Want Want China Holdings, Ltd.		3,750,000		5,064,615
Weichai Power Co., Ltd., Class H		456,400		1,516,430
Wumart Stores, Inc., Class H		321,000		599,926
WuXi PharmaTech (Cayman), Inc. ADR⁽¹⁾		61,900		1,374,180


Security	Shares		Value


China (continued)
Yangzijiang Shipbuilding Holdings, Ltd.		1,809,000	$	1,330,028
Yantai Changyu Pioneer Wine Co., Ltd., Class B		144,216		524,857
Yanzhou Coal Mining Co., Ltd., Class H		1,764,000		1,212,058
Zhaojin Mining Industry Co., Ltd., Class H		1,140,000		771,227
Zhejiang Expressway Co., Ltd., Class H		1,404,000		1,183,956
Zhuzhou CSR Times Electric Co., Ltd., Class H		513,000		1,354,456
Zijin Mining Group Co., Ltd., Class H		6,290,000		1,339,706
ZTE Corp., Class H⁽¹⁾		730,753		1,269,506

			$	395,774,548


Colombia — 1.6%
Almacenes Exito SA		452,090	$	7,430,048
Banco Davivienda SA, PFC Shares		98,800		1,203,485
Banco de Bogota		79,280		2,969,940
Bancolombia SA ADR, PFC Shares		137,200		7,882,140
Bolsa de Valores de Colombia		46,242,700		610,143
Cementos Argos SA		360,540		1,645,954
Cia Colombiana de Inversiones SA		809,070		2,361,344
Corporacion Financiera Colombiana SA		54,754		1,069,217
Corporacion Financiera Colombiana SA-ND⁽¹⁾		1,471		28,539
Ecopetrol SA		3,882,490		8,882,752
Empresa de Energia de Bogota SA		3,474,085		2,658,622
Empresa de Telecommunicaciones de Bogota SA		2,532,380		517,903
Fabricato SA⁽¹⁾		36,122,860		219,244
Grupo Argos SA		311,950		3,440,958
Grupo Argos SA, PFC Shares		108,995		1,182,709
Grupo Aval Acciones y Valores SA		3,145,485		2,315,847
Grupo Aval Acciones y Valores SA, PFC Shares		4,148,400		2,999,503
Grupo de Inversiones Suramericana		215,370		4,248,862
Grupo Nutresa SA		432,855		5,825,466
Grupo Odinsa SA		150,661		628,168
Interconexion Electrica SA		770,860		3,270,993
ISAGEN SA ESP⁽¹⁾		1,935,100		2,777,924
Tableros y Maderas de Caldas		188,378,738		710,863

			$	64,880,624


Croatia — 0.5%
Adris Grupa DD, PFC Shares		50,044	$	2,495,745
Atlantic Grupa DD		5,200		584,960
Atlantska Plovidba DD⁽¹⁾		22,867		1,232,691
Croatia Osiguranje DD⁽¹⁾		500		623,379
Dalekovod DD⁽¹⁾		51,895		228,317
Ericsson Nikola Tesla		6,040		1,628,757
Hrvatski Telekom DD		195,230		6,037,192
INA Industrija Nafte DD		900		679,806


		9		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Croatia (continued)
Koncar-Elektroindustrija DD		14,719	$	1,916,713
Kras DD		7,262		517,617
Petrokemija DD⁽¹⁾		25,975		1,013,101
Podravka Prehrambena Industrija DD⁽¹⁾		31,335		1,338,202
Privredna Banka Zagreb DD		3,177		260,688
Zagrebacka Banka DD⁽¹⁾		176,195		904,824

			$	19,461,992


Czech Republic — 1.7%
CEZ AS		930,860	$	22,097,446
Fortuna Entertainment Group NV		246,600		1,258,329
Komercni Banka AS		107,064		20,806,529
New World Resources PLC, Class A		1,183,100		1,032,865
Pegas Nonwovens SA		89,914		2,717,468
Philip Morris CR AS		9,113		5,220,444
Telefonica 02 Czech Republic AS		634,104		9,479,347
Unipetrol AS⁽¹⁾		617,307		5,444,107

			$	68,056,535


Egypt — 1.6%
Alexandria Mineral Oils Co.		171,820	$	1,706,272
Amer Group Holding		4,390,500		315,790
Arab Cotton Ginning		1,993,380		916,746
Citadel Capital Co.⁽¹⁾		1,887,400		898,731
Commercial International Bank		1,979,204		10,013,765
Eastern Tobacco		215,704		2,954,599
Egypt Kuwaiti Holding Co.		1,849,596		1,388,912
Egyptian Financial Group-Hermes Holding SAE⁽¹⁾		1,173,838		1,469,146
Egyptian Resorts Co.⁽¹⁾		4,721,950		613,275
El Ezz Aldekhela Steel Alexa Co.		4,000		282,329
El Sewedy Cables Holding Co.		159,606		490,063
Ezz Steel⁽¹⁾		1,117,345		1,676,796
Juhayna Food Industries		3,306,227		4,593,516
Maridive & Oil Services SAE⁽¹⁾		1,761,799		1,834,160
Misr Beni-Suef Cement Co.		69,150		466,521
National Societe General Bank		256,828		989,006
Orascom Construction Industries (OCI)⁽¹⁾		364,138		12,531,592
Orascom Telecom Holding SAE⁽¹⁾		12,928,866		8,218,663
Orascom Telecom Media and Technology Holding SAE		14,946,609		1,173,669
Oriental Weavers Co.		187,375		531,124
Palm Hills Developments SAE⁽¹⁾		1,720,500		579,654
Pioneers Holding⁽¹⁾		552,900		302,406
Sidi Kerir Petrochemicals Co.		1,463,400		3,113,974
Six of October Development & Investment Co.⁽¹⁾		232,178		631,391
South Valley Cement⁽¹⁾		704,261		402,425


Security	Shares		Value


Egypt (continued)
Talaat Moustafa Group⁽¹⁾		3,756,460	$	2,541,815
Telecom Egypt		1,549,337		2,968,413

			$	63,604,753


Estonia — 0.2%
AS Merko Ehitus		50,618	$	461,998
AS Nordecon International⁽¹⁾		145,374		221,067
AS Olympic Entertainment Group		503,790		1,340,540
AS Tallink Group		3,623,652		4,522,192
AS Tallinna Kaubamaja		137,340		1,014,652
AS Tallinna Vesi		58,790		788,844

			$	8,349,293


Ghana — 0.1%
Aluworks Ghana, Ltd.⁽¹⁾		457,409	$	10,995
CAL Bank, Ltd.		1,298,010		704,433
Ghana Commercial Bank, Ltd.		1,453,841		3,427,744
HFC Bank Ghana, Ltd.		1,235,326		338,527
Produce Buying Co., Ltd.		582,428		56,003
Standard Chartered Bank of Ghana, Ltd.		148,200		1,022,457

			$	5,560,159


Hungary — 1.6%
EGIS Pharmaceuticals PLC		22,902	$	2,123,368
Magyar Telekom Rt.		5,561,100		7,616,380
MOL Hungarian Oil & Gas Rt.		250,500		18,816,803
OTP Bank Rt.		1,046,230		21,056,812
Richter Gedeon Nyrt		1,061,000		16,310,733

			$	65,924,096


India — 6.0%
ABB, Ltd.		19,900	$	163,262
ACC, Ltd.		49,070		952,520
Adani Enterprises, Ltd.		397,200		1,151,675
Adani Ports and Special Economic Zone, Ltd.		808,500		1,661,301
Aditya Birla Nuvo, Ltd.		17,702		340,136
Amtek Auto, Ltd.		152,500		157,854
Asian Paints, Ltd.		270,300		2,250,552
Axis Bank, Ltd.		174,200		2,936,165
Bajaj Auto, Ltd.		53,260		1,693,011
Bank of Baroda		79,760		739,189
Bank of India		148,900		453,427
Bharat Forge, Ltd.		63,650		213,106
Bharat Heavy Electricals, Ltd.		726,400		1,900,701


		10		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


India (continued)
Bharat Petroleum Corp., Ltd.		192,700	$	1,027,102
Bharti Airtel, Ltd.		2,002,760		11,383,335
Biocon, Ltd.		51,500		266,435
Cairn India, Ltd.		416,000		2,022,026
Canara Bank, Ltd.		104,600		467,531
Cipla, Ltd.		287,310		1,891,063
Coal India, Ltd.		623,800		2,885,262
Colgate-Palmolive (India), Ltd.		24,900		560,214
Container Corp. of India, Ltd.		36,160		591,828
Crompton Greaves, Ltd.		213,600		296,078
Cummins India, Ltd.		49,900		352,556
Dabur India, Ltd.		364,400		962,134
Divi’s Laboratories, Ltd.		46,800		719,624
DLF, Ltd.		312,600		772,314
Dr. Reddy’s Laboratories, Ltd.		61,720		2,303,421
Educomp Solutions, Ltd.		157,865		65,021
Essar Oil, Ltd.⁽¹⁾		425,030		359,892
Financial Technologies India, Ltd.		32,600		289,840
GAIL (India), Ltd.		538,050		2,672,626
GlaxoSmithKline Pharmaceuticals, Ltd.		8,680		341,709
Glenmark Pharmaceuticals, Ltd.		125,460		1,198,539
GMR Infrastructure, Ltd.⁽¹⁾		1,721,400		363,928
Grasim Industries, Ltd.		8,158		355,678
Gujarat Ambuja Cements, Ltd.		657,400		1,824,682
Gujarat State Petronet, Ltd.		383,800		314,646
GVK Power & Infrastructure, Ltd.⁽¹⁾		2,796,900		268,598
HCL Technologies, Ltd.		199,400		3,080,280
HDFC Bank, Ltd.		809,720		8,085,313
Hero MotoCorp, Ltd.		60,900		1,818,896
Hindalco Industries, Ltd.		886,210		1,312,152
Hindustan Petroleum Corp., Ltd.		120,900		418,587
Hindustan Unilever, Ltd.		709,000		7,178,023
Hindustan Zinc, Ltd.		148,400		247,769
Housing Development & Infrastructure, Ltd.⁽¹⁾		602,114		333,048
Housing Development Finance Corp., Ltd.		1,034,500		13,642,341
ICICI Bank, Ltd.		386,970		5,772,249
IDBI Bank, Ltd.		367,000		389,852
Idea Cellular, Ltd.⁽¹⁾		1,311,500		3,676,722
IDFC, Ltd.		879,000		1,570,670
IFCI, Ltd.		1,864,200		675,257
Indiabulls Housing Finance, Ltd.⁽¹⁾		165,200		570,002
Indiabulls Real Estate, Ltd.⁽¹⁾		646,300		679,840
Indian Hotels Co., Ltd.		164,280		118,756
Indian Oil Corp., Ltd.		242,400		816,991
Infosys, Ltd.		459,300		22,578,345
ITC, Ltd.		1,313,460		7,391,033


Security	Shares		Value


India (continued)
IVRCL, Ltd.⁽¹⁾		1,113,900	$	213,300
Jaiprakash Associates, Ltd.		1,722,800		1,025,884
Jindal Steel & Power, Ltd.		437,200		1,428,642
JSW Steel, Ltd.		111,900		1,055,072
Kotak Mahindra Bank, Ltd.		186,700		2,002,533
Lanco Infratech, Ltd.⁽¹⁾		2,361,100		205,232
Larsen & Toubro, Ltd.		258,090		3,592,798
LIC Housing Finance, Ltd.		212,000		572,994
Lupin, Ltd.		148,500		2,140,457
Mahindra & Mahindra, Ltd.		226,260		3,404,593
Maruti Suzuki India, Ltd.		67,750		1,476,532
Mphasis, Ltd.		39,900		263,722
Nestle India, Ltd.		11,930		1,042,949
Nicholas Piramal India, Ltd.		76,807		694,642
NTPC, Ltd.		2,092,100		4,474,979
Oil & Natural Gas Corp., Ltd.		1,672,180		8,024,438
Oracle Financial Service Software, Ltd.⁽¹⁾		16,500		801,366
Power Grid Corporation of India, Ltd.		1,946,900		3,181,010
Ranbaxy Laboratories, Ltd.⁽¹⁾		116,460		549,437
Reliance Capital, Ltd.		153,735		864,376
Reliance Communications, Ltd.		1,731,560		4,018,041
Reliance Industries, Ltd.		1,259,538		18,118,359
Reliance Infrastructure, Ltd.		288,300		1,613,960
Reliance Power, Ltd.⁽¹⁾		1,400,250		1,682,315
Sesa Goa, Ltd.		438,600		930,013
Shree Renuka Sugars, Ltd.⁽¹⁾		777,100		219,151
Siemens India, Ltd.		47,180		400,765
State Bank of India		84,800		2,379,786
State Bank of India GDR		9,600		539,507
Steel Authority of India, Ltd.		646,200		443,898
Sterlite Industries (India), Ltd.		848,020		1,056,982
Sun Pharmaceuticals Industries, Ltd.		595,400		5,501,430
Sun TV Network, Ltd.		147,473		986,095
Suzlon Energy, Ltd.⁽¹⁾		2,099,450		241,892
Tata Communications, Ltd.		65,700		159,713
Tata Consultancy Services, Ltd.		481,600		14,368,168
Tata Motors, Ltd.		742,250		3,545,355
Tata Power Co., Ltd.		1,558,700		2,234,223
Tata Steel, Ltd.		300,796		1,073,514
Tata Tea, Ltd.		279,500		735,324
Tech Mahindra, Ltd.		88,512		1,814,366
Titan Industries, Ltd.		234,100		1,018,660
UltraTech Cement, Ltd.		64,100		1,925,983
Unitech, Ltd.⁽¹⁾		1,726,100		472,098
United Phosphorus, Ltd.		208,000		435,603
United Spirits, Ltd.		64,600		2,530,458


		11		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


India (continued)
Voltas, Ltd.		296,300	$	382,115
Wipro, Ltd.		527,679		3,745,183
Yes Bank, Ltd.		148,900		787,441
Zee Entertainment Enterprises, Ltd.		373,114		1,525,636

			$	241,426,097


Indonesia — 3.1%
Adaro Energy Tbk PT		36,822,500	$	2,503,407
AKR Corporindo Tbk PT		4,604,500		1,933,467
Aneka Tambang Tbk PT		10,251,500		1,156,728
Astra Argo Lestari Tbk PT		558,000		843,113
Astra International Tbk PT		16,140,500		10,213,564
Bakrie Sumatera Plantations Tbk PT		29,603,500		149,807
Bank Central Asia Tbk PT		10,848,500		10,965,115
Bank Danamon Indonesia Tbk PT		3,015,303		1,525,017
Bank Mandiri Tbk PT		8,405,500		7,275,048
Bank Negara Indonesia Persero Tbk PT		6,611,500		2,745,802
Bank Pan Indonesia Tbk PT⁽¹⁾		4,945,000		302,984
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		5,557,000		573,152
Bank Rakyat Indonesia Tbk PT		8,452,000		6,773,378
Bank Tabungan Negara Tbk PT		6,830,000		692,321
Berlian Laju Tanker Tbk PT⁽¹⁾⁽²⁾		7,544,500		0
Bhakti Investama Tbk PT		31,527,000		1,346,032
Bumi Resources Tbk PT		37,563,000		1,861,068
Bumi Serpong Damai Tbk PT		10,932,500		1,676,410
Charoen Pokphand Indonesia Tbk PT		6,907,500		2,887,648
Delta Dunia Makmur Tbk PT⁽¹⁾		9,252,500		104,335
Energi Mega Persada Tbk PT⁽¹⁾		64,369,200		656,548
Gudang Garam Tbk PT		532,000		2,188,984
Harum Energy Tbk PT		2,626,500		664,271
Holcim Indonesia Tbk PT		3,029,000		773,121
Indo Tambangraya Megah Tbk PT		627,000		1,474,825
Indocement Tunggal Prakarsa Tbk PT		3,194,500		6,477,518
Indofood Sukses Makmur Tbk PT		4,360,500		2,752,198
Indosat Tbk PT		1,134,000		551,440
Jasa Marga (Persero) Tbk PT		3,198,000		1,663,653
Kalbe Farma Tbk PT		21,877,500		3,039,226
Lippo Karawaci Tbk PT		22,152,000		2,755,470
Matahari Putra Prima Tbk PT		5,375,500		1,267,839
Medco Energi Internasional Tbk PT		2,095,000		364,850
Pembangunan Perumahan Persero Tbk PT		9,145,000		1,261,326
Perusahaan Gas Negara Tbk PT		12,686,500		7,285,592
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		7,185,000		782,275
Semen Gresik (Persero) Tbk PT		4,722,000		6,984,210


Security	Shares		Value


Indonesia (continued)
Surya Semesta Internusa Tbk PT		7,220,500	$	659,564
Tambang Batubara Bukit Asam Tbk PT		1,463,500		1,416,434
Telekomunikasi Indonesia Tbk PT		12,117,000		14,018,003
Tower Bersama Infrastructure Tbk PT⁽¹⁾		1,775,500		984,159
Trada Maritime Tbk PT⁽¹⁾		7,567,500		1,000,745
Unilever Indonesia Tbk PT		1,120,300		3,459,333
United Tractors Tbk PT		3,067,083		5,013,312
Vale Indonesia Tbk PT		4,267,000		733,022
Wijaya Karya Persero Tbk PT		3,800,000		767,155
XL Axiata Tbk PT		2,954,500		1,293,043

			$	125,816,512


Jordan — 0.8%
Arab Bank PLC		1,401,120	$	13,446,694
Arab Potash Co. PLC		46,536		2,817,670
Bank of Jordan		298,710		977,482
Capital Bank of Jordan⁽¹⁾		231,454		362,829
Jordan Ahli Bank⁽¹⁾		765,591		1,231,172
Jordan Islamic Bank⁽¹⁾		405,003		1,738,170
Jordan Petroleum Refinery		435,706		3,121,857
Jordan Phosphate Mines		149,908		1,882,197
Jordan Steel		453,091		944,492
Jordan Telecom Corp.		339,850		1,672,092
Jordanian Electric Power Co.		488,876		2,072,036
Royal Jordanian Airlines⁽¹⁾		455,790		398,962
Taameer Jordan Holdings PSC⁽¹⁾		1,228,805		208,192
Union Investment Corp.⁽¹⁾		595,615		1,657,452
Union Land Development⁽¹⁾		47,830		253,951

			$	32,785,248


Kazakhstan — 0.8%
Eurasian Natural Resources Corp.		1,799,600	$	5,969,018
Halyk Savings Bank of Kazakhstan JSC GDR⁽³⁾		712,200		5,823,156
Kazakhmys PLC		1,199,900		4,765,811
Kazkommertsbank JSC GDR⁽¹⁾⁽³⁾		340,233		577,285
KazMunaiGas Exploration Production GDR⁽³⁾		545,900		8,018,038
Kcell JSC GDR⁽³⁾		385,400		6,214,414
Zhaikmunai, LP GDR⁽³⁾		243,200		2,780,978

			$	34,148,700


Kenya — 1.0%
Athi River Mining, Ltd.		390,500	$	301,329
Bamburi Cement Co., Ltd.		606,300		1,459,343
Barclays Bank of Kenya, Ltd.		8,931,260		1,692,197
Co-operative Bank of Kenya, Ltd. (The)		9,284,400		1,699,068


		12		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Kenya (continued)
East African Breweries, Ltd.		2,526,280	$	9,714,824
Equity Bank, Ltd.		12,613,200		4,832,664
KenolKobil, Ltd.⁽¹⁾		4,090,000		411,076
Kenya Airways, Ltd.		1,264,800		134,906
Kenya Commercial Bank, Ltd.		11,014,620		5,390,616
Kenya Electricity Generating Co., Ltd.		2,321,100		428,594
Kenya Power & Lighting, Ltd.		9,484,354		1,517,540
Mumias Sugar Co., Ltd.		3,844,600		189,134
Nation Media Group, Ltd.		407,184		1,449,994
Safaricom, Ltd.		106,083,272		8,750,878
Standard Chartered Bank Kenya, Ltd.		149,188		525,881

			$	38,498,044


Kuwait — 1.6%
Agility Public Warehousing Co. KSC		1,548,750	$	3,861,626
Ahli United Bank		303,187		783,222
Al Ahli Bank of Kuwait KSC		510,925		889,927
Al Safat Energy Holding Co. KSCC⁽¹⁾		1,880,000		382,710
Al Safwa Group Holding Co. KSC⁽¹⁾⁽²⁾		8,080,000		0
Al-Qurain Petrochemicals Co.		2,424,073		1,804,639
Aviation Lease and Finance Co. KSCC		730,000		742,947
Boubyan Bank KSC⁽¹⁾		499,500		1,089,382
Boubyan Petrochemicals Co.		1,530,000		3,383,732
Burgan Bank SAK		1,038,231		2,228,320
Combined Group Contracting Co.		73,205		330,784
Commercial Bank of Kuwait SAK⁽¹⁾		365,000		918,476
Commercial Real Estate Co. KSCC		2,186,862		785,279
Gulf Bank⁽¹⁾		1,859,887		2,583,386
Gulf Cable and Electrical Industries Co.		245,000		855,333
Kuwait Cement Co.		209,520		260,063
Kuwait Finance House KSC		2,314,471		5,933,778
Kuwait Foods Co. (Americana)		425,000		3,318,980
Kuwait International Bank		1,224,000		1,397,817
Kuwait Pipes Industries & Oil Services Co.⁽¹⁾		1,188,500		416,936
Kuwait Portland Cement Co.		255,000		986,194
Kuwait Projects Co. Holdings KSC		1,097,933		2,125,512
Kuwait Real Estate Co.⁽¹⁾		4,120,000		1,288,297
Mabanee Co. SAKC		932,352		3,542,341
Mena Holding Group⁽¹⁾⁽²⁾		198,000		0
Mobile Telecommunications Co.		3,780,000		9,024,604
National Bank of Kuwait SAK		2,855,412		9,132,328
National Industries Group Holding⁽¹⁾		3,862,500		3,473,316
National Investment Co.⁽¹⁾		1,510,000		834,010
National Ranges Co.⁽¹⁾		7,920,000		834,329
Sultan Center Food Products Co.⁽¹⁾		4,020,000		1,579,900

			$	64,788,168


Security	Shares		Value


Latvia — 0.0%⁽⁴⁾
Grindeks⁽¹⁾		42,000	$	545,714
Latvian Shipping Co.⁽¹⁾		405,000		308,126

			$	853,840


Lebanon — 0.1%
Solidere GDR⁽³⁾		320,943	$	3,539,506
Solidere, Class A		86,340		978,770
Solidere, Class B		1,726		19,463

			$	4,537,739


Lithuania — 0.1%
Apranga PVA		278,536	$	923,942
Klaipedos Nafta PVA		1,345,900		610,194
Lesto AB		118,064		106,459
Pieno Zvaigzdes		104,200		301,210
Rokiskio Suris		122,500		251,322
Siauliu Bankas		809,317		273,677

			$	2,466,804


Malaysia — 3.1%
Aeon Co. (M) Bhd		165,300	$	789,925
Airasia Bhd		1,228,200		1,194,606
Alliance Financial Group Bhd		560,300		925,164
AMMB Holdings Bhd		638,000		1,540,242
Astro Malaysia Holdings Bhd		565,100		522,079
Axiata Group Bhd		2,198,050		4,598,293
Batu Kawan Bhd		210,000		1,184,164
Berjaya Corp. Bhd		2,289,600		408,900
Berjaya Sports Toto Bhd		805,627		1,037,998
Boustead Holdings Bhd		596,210		964,901
British American Tobacco Malaysia Bhd		93,800		1,770,856
Bumi Armada Bhd⁽¹⁾		1,699,900		2,069,456
Bursa Malaysia Bhd		344,900		827,503
CIMB Group Holdings Bhd		1,647,900		3,994,320
Dialog Group Bhd		2,063,673		1,773,493
Digi.com Bhd		1,873,500		2,684,191
Felda Global Ventures Holdings Bhd		1,358,400		1,842,773
Gamuda Bhd		2,269,300		3,327,325
Genting Bhd		1,448,500		4,385,076
Genting Plantations Bhd		261,700		795,062
Hong Leong Bank Bhd		382,900		1,625,936
Hong Leong Financial Group Bhd		208,700		898,887
IGB Corp. Bhd		856,200		668,091
IHH Healthcare Bhd⁽¹⁾		2,077,100		2,559,878
IJM Corp. Bhd		1,425,690		2,542,459


		13		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Malaysia (continued)
IOI Corp. Bhd		1,776,018	$	2,993,829
KLCC Property Holdings Bhd		399,100		807,058
KNM Group Bhd⁽¹⁾		5,003,150		686,002
Kuala Lumpur Kepong Bhd		284,000		1,855,733
Kulim (Malaysia) Bhd		860,000		944,018
Lafarge Malayan Cement Bhd		720,350		2,294,235
Malayan Banking Bhd		1,647,587		5,208,252
Malaysia Airports Holdings Bhd		342,800		712,313
Malaysia Marine and Heavy Engineering Holdings Bhd		557,500		726,390
Malaysian Resources Corp. Bhd		1,423,500		639,618
Maxis Bhd		1,737,900		3,810,904
Media Prima Bhd		575,000		481,068
MISC Bhd⁽¹⁾		482,400		807,750
MMC Corp. Bhd		868,200		719,048
Mudajaya Group Bhd		510,600		416,866
Multi-Purpose Holdings Bhd		940,340		1,118,964
Parkson Holdings Bhd		766,578		851,418
Petronas Chemicals Group Bhd		3,324,500		6,783,033
Petronas Dagangan Bhd		473,800		3,913,064
Petronas Gas Bhd		298,800		1,919,649
PPB Group Bhd		404,100		1,855,348
Public Bank Bhd		703,120		3,738,298
Resorts World Bhd		1,885,300		2,416,709
RHB Capital Bhd		582,500		1,480,199
Sapurakencana Petroleum Bhd⁽¹⁾		4,480,368		5,326,011
Sime Darby Bhd		3,698,239		10,808,392
Supermax Corp. Bhd		650,400		415,133
TA Enterprise Bhd		1,323,000		265,199
Tan Chong Motor Holdings Bhd		265,900		547,424
Telekom Malaysia Bhd		1,249,900		2,030,818
Tenaga Nasional Bhd		1,719,525		4,713,859
Top Glove Corp. Bhd		525,500		954,051
UEM Land Holdings Bhd		1,095,050		903,856
UMW Holdings Bhd		448,400		1,917,256
Unisem (M) Bhd		1,289,100		357,525
Wah Seong Corp. Bhd		439,687		259,025
WCT Bhd		1,257,800		953,322
YTL Corp. Bhd		2,863,465		1,473,071
YTL Power International Bhd		1,793,521		895,513

			$	123,931,799


Mauritius — 0.5%
CIM Financial Services, Ltd.		5,283,300	$	1,094,247
LUX Island Resorts, Ltd.⁽¹⁾		842,920		601,255
Mauritius Commercial Bank		1,387,300		8,519,960


Security	Shares		Value


Mauritius (continued)
New Mauritius Hotels, Ltd.⁽¹⁾		1,630,850	$	3,485,253
Rogers & Co., Ltd.		167,300		958,618
State Bank of Mauritius, Ltd.		120,918,200		3,958,983
Sun Resorts, Ltd.⁽¹⁾		1,042,199		961,839
Terra Mauricia, Ltd.		926,300		1,206,484
United Basalt Products, Ltd.		289,200		897,043
United Docks, Ltd.⁽¹⁾		27,400		59,822

			$	21,743,504


Mexico — 6.2%
Alfa SAB de CV, Series A		6,966,000	$	17,752,113
America Movil SAB de CV ADR, Series L		905,400		18,995,292
America Movil SAB de CV, Series L		27,123,050		28,476,256
Bolsa Mexicana de Valores SAB de CV		1,503,700		4,036,865
Cemex SAB de CV ADR⁽¹⁾		703,590		8,098,321
Cemex SAB de CV, Series CPO⁽¹⁾		10,101,822		11,641,880
Coca-Cola Femsa SA de CV, Series L		310,400		4,374,312
Compartamos SAB de CV		2,788,400		5,042,926
Controladora Comercial Mexicana SA de CV		428,700		1,819,149
Corporacion GEO SAB de CV, Series B⁽¹⁾		1,144,000		159,427
Desarrolladora Homex SAB de CV⁽¹⁾		776,450		229,177
Embotelladoras Arca SAB de CV		687,114		5,144,983
Empresas ICA SAB de CV⁽¹⁾		2,013,500		4,227,913
Fibra Uno Administracion SA de CV		2,173,500		6,942,812
Fomento Economico Mexicano SA de CV ADR		25,600		2,546,944
Fomento Economico Mexicano SAB de CV, Series UBD		1,407,100		14,011,787
Genomma Lab Internacional SA de CV⁽¹⁾		779,800		1,827,892
Grupo Aeroportuario del Pacifico SAB de CV, Class B		442,300		2,309,022
Grupo Aeroportuario del Sureste SAB de CV, Class B		220,600		2,616,578
Grupo Bimbo SA de CV, Series A		2,083,400		7,010,591
Grupo Carso SA de CV, Series A1		957,500		4,774,475
Grupo Elektra SA de CV		51,200		1,861,844
Grupo Financiero Banorte SAB de CV, Class O		3,428,600		21,627,473
Grupo Financiero Inbursa SAB de CV, Class O		4,951,200		11,578,739
Grupo Mexico SAB de CV, Series B		3,881,679		11,916,043
Grupo Simec SA de CV, Series B⁽¹⁾		133,800		527,647
Grupo Televisa SA ADR		71,500		1,937,650
Grupo Televisa SAB, Series CPO		1,487,900		8,037,823
Impulsora del Desarrollo y el Empleo en America Latina SA de CV, Series B1⁽¹⁾		1,038,200		2,326,303
Industrias CH SAB de CV, Series B⁽¹⁾		225,500		1,445,573
Industrias Penoles SA de CV		188,600		5,919,023
Inmuebles Carso SAB de CV⁽¹⁾		714,800		646,931
Kimberly-Clark de Mexico SAB de CV, Class A		1,554,300		5,123,096
Mexichem SAB de CV		1,270,316		5,907,637
Minera Frisco SAB de CV⁽¹⁾		714,800		1,567,521


		14		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Mexico (continued)
Organizacion Soriana SAB de CV, Class B		120,000	$	401,167
Promotora y Operadora de Infraestructura SAB de CV⁽¹⁾		348,200		3,654,359
Ternium SA ADR		21,300		476,481
TV Azteca SAB de CV, Series CPO		1,240,300		587,486
Urbi Desarrollos Urbanos SAB de CV⁽¹⁾		2,260,600		281,408
Wal-Mart de Mexico SAB de CV, Series V		4,989,600		13,653,013

			$	251,515,932


Morocco — 0.8%
Alliances Developpement Immobilier SA		22,000	$	1,104,438
Attijariwafa Bank		160,000		6,195,843
Banque Centrale Populaire		116,860		2,656,797
Banque Marocaine du Commerce Exterieur (BMCE)		122,817		2,896,649
Banque Marocaine pour le Commerce et l’Industrie (BMCI)		2,860		262,498
Ciments du Maroc		4,580		330,068
Compagnie Generale Immobiliere		9,100		557,596
Cosumar Compagnie Sucriere Marocaine et de Raffinage		3,930		869,015
Credit Immobilier et Hotelier		6,440		175,869
Delta Holding SA		52,900		159,771
Douja Promotion Groupe Addoha SA		370,934		1,951,022
Holcim Maroc SA		7,774		1,300,765
Label Vie⁽¹⁾		2,100		364,504
Lafarge Ciments		17,410		1,962,949
Managem		9,862		1,460,875
Maroc Telecom		762,524		8,521,595
Samir⁽¹⁾		15,717		477,371
SONASID (Societe Nationale de Siderurgie)⁽¹⁾		4,267		279,030
Wafa Assurance		2,730		931,132

			$	32,457,787


Nigeria — 1.0%
Access Bank PLC		19,423,730	$	1,336,853
Africa Prudential Registrars PLC⁽¹⁾		1,169,236		13,174
Afriland Properties PLC⁽¹⁾⁽²⁾		1,169,236		0
Ashaka Cement PLC		2,154,293		341,356
Dangote Cement PLC		2,333,650		2,854,174
Dangote Flour Mills PLC		2,810,000		166,175
Dangote Sugar Refinery PLC		8,508,432		599,569
Diamond Bank PLC⁽¹⁾		16,654,000		697,720
Ecobank Transnational, Inc.		12,593,618		1,143,934
Fidelity Bank PLC		22,430,824		421,746
First Bank of Nigeria PLC		32,229,046		3,389,557
First City Monument Bank PLC⁽¹⁾		23,552,733		679,705


Security	Shares		Value


Nigeria (continued)
Flour Mills of Nigeria PLC		660,000	$	345,006
Guaranty Trust Bank PLC		30,623,074		4,819,214
Guiness Nigeria PLC		924,075		1,409,716
Lafarge Cement WAPCO Nigeria PLC		2,715,900		1,773,790
Nestle Nigeria PLC		433,960		2,622,306
Nigerian Breweries PLC		4,353,805		4,666,293
Oando PLC		17,611,194		1,379,495
PZ Cussons Nigeria PLC		1,481,250		414,545
Skye Bank PLC		16,027,300		455,297
UAC of Nigeria PLC		7,144,089		2,727,667
UBA Capital PLC⁽¹⁾		4,676,946		34,412
Unilever Nigeria PLC		2,757,800		1,079,975
United Bank for Africa PLC		38,584,810		1,879,287
Zenith Bank PLC		33,601,962		4,116,422

			$	39,367,388


Oman — 0.8%
Al Anwar Ceramic Tile Co.		309,100	$	365,545
Bank Dhofar SAOG		1,533,131		1,470,866
Bank Muscat SAOG		4,050,336		6,165,632
Bank Sohar SAOG		5,208,479		2,894,467
Dhofar International Development & Investment Holding Co.		275,832		429,975
Galfar Engineering & Contracting SAOG		1,637,096		1,567,254
HSBC Bank Oman SAOG		1,709,435		830,261
National Bank of Oman SAOG		1,368,355		1,065,124
Oman Cables Industry SAOG		93,600		480,421
Oman Cement Co. SAOG		741,260		1,462,552
Oman Flour Mills Co. SAOG		561,100		949,273
Oman National Investment Corp. Holdings		272,868		282,700
Oman Telecommunications Co. SAOG		1,240,071		5,093,722
Omani Qatari Telecommunications Co. SAOG		1,590,700		2,019,772
Ominvest		1,243,872		1,535,836
Raysut Cement Co. SAOG		634,209		3,293,360
Renaissance Services SAOG⁽¹⁾		1,930,523		3,193,917
Shell Oman Marketing Co. SAOG		34,398		200,830

			$	33,301,507


Pakistan — 0.8%
Adamjee Insurance Co., Ltd.		464,155	$	401,838
Azgard Nine, Ltd.⁽¹⁾		1,954,200		125,210
Bank Alfalah, Ltd.		4,021,538		843,157
D.G. Khan Cement Co., Ltd.		1,053,232		947,783
Engro Corp., Ltd.⁽¹⁾		1,080,287		1,711,868
Fauji Fertilizer Bin Qasim, Ltd.		1,184,000		478,172


		15		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Pakistan (continued)
Fauji Fertilizer Co., Ltd.		1,768,610	$	1,890,471
Habib Bank, Ltd.		509,107		852,226
Hub Power Co., Ltd.		6,688,300		4,472,422
Kot Addu Power Co., Ltd.		1,009,900		594,091
Lucky Cement, Ltd.		878,300		2,081,200
Millat Tractors, Ltd.		147,400		771,756
Muslim Commercial Bank, Ltd.		2,241,119		5,994,705
National Bank of Pakistan		1,284,040		740,892
Nishat Mills, Ltd.		862,310		890,554
Oil & Gas Development Co., Ltd.		1,709,891		4,107,761
Pakistan Oil Fields, Ltd.		278,600		1,429,769
Pakistan Petroleum, Ltd.		1,081,898		2,637,119
Pakistan State Oil Co., Ltd.		440,928		1,579,241
Pakistan Telecommunication Co., Ltd.⁽¹⁾		2,612,200		725,623
United Bank, Ltd.		745,745		893,082

			$	34,168,940


Peru — 1.6%
Alicorp SA		2,877,500	$	8,860,971
Banco Continental SA		319,822		651,998
Casa Grande SAA		99,420		309,354
Cementos Pacasmayo SAA		241,600		604,864
Cia de Minas Buenaventura SA ADR		436,280		6,238,804
Cia Minera Milpo SA		567,882		233,571
Credicorp, Ltd.		129,084		15,335,125
Edegel SA		1,592,100		1,303,973
Edelnor SA		108,248		183,898
Energia del Sur SA		44,784		421,251
Ferreyros SA		5,395,676		3,184,144
Grana y Montero SA		1,826,112		7,641,456
Intergroup Financial Services Corp.		46,000		1,334,000
Luz del Sur SAA		484,850		1,609,230
Minsur SA		1,488,259		622,769
Sociedad Minera Cerro Verde SAA⁽¹⁾		35,821		791,644
Southern Copper Corp.		415,227		10,824,968
Union Andina de Cementos SAA		624,300		870,805
Volcan Cia Minera SA, Class B		5,423,215		2,269,371

			$	63,292,196


Philippines — 1.6%
Aboitiz Equity Ventures, Inc.		3,611,100	$	4,182,324
Aboitiz Power Corp.		1,176,200		946,561
Alliance Global Group, Inc.		4,540,000		2,746,552
Ayala Corp.		192,195		2,671,956
Ayala Land, Inc.		4,730,800		3,273,280


Security	Shares		Value


Philippines (continued)
Ayala Land, Inc., PFC Shares⁽²⁾		3,951,800	$	9,099
Bank of the Philippine Islands		1,150,751		2,493,148
BDO Unibank, Inc.⁽¹⁾		1,274,481		2,376,533
DMCI Holdings, Inc.		1,733,600		2,123,412
Energy Development Corp.		6,100,000		848,204
Filinvest Land, Inc.		14,494,000		593,514
First Gen Corp.		1,768,322		749,218
First Philippine Holdings Corp.		228,500		452,486
Globe Telecom, Inc.		18,040		677,987
Holcim Philippines, Inc.		1,492,000		465,114
International Container Terminal Services, Inc.		530,100		1,118,685
JG Summit Holding, Inc.		4,019,900		3,887,675
Jollibee Foods Corp.		573,300		2,046,034
Lopez Holdings Corp.		4,600,000		537,583
Manila Electric Co.		271,300		1,789,972
Manila Water Co.		727,400		545,010
Megaworld Corp.		12,596,000		938,500
Metro Pacific Investments Corp.		7,682,400		954,872
Metropolitan Bank & Trust Co.		642,455		1,570,711
Petron Corp.		1,555,500		507,808
Philex Mining Corp.		6,094,825		1,523,883
Philex Petroleum Corp.⁽¹⁾		283,500		84,835
Philippine Long Distance Telephone Co.		70,720		4,939,617
Robinsons Land Corp.		2,417,100		1,266,825
San Miguel Corp.		716,000		1,417,732
Semirara Mining Corp.		220,800		1,265,146
SM Investments Corp.		359,172		7,855,781
SM Prime Holdings, Inc.		5,515,999		2,228,801
Universal Robina Corp.		1,209,500		3,461,436
Vista Land & Lifescapes, Inc.		3,675,000		486,195

			$	63,036,489


Poland — 3.1%
Agora SA⁽¹⁾		134,330	$	328,863
AmRest Holdings SE⁽¹⁾		7,766		212,738
Asseco Poland SA		369,826		5,273,260
Bank Handlowy w Warszawie SA		50,570		1,523,047
Bank Millennium SA⁽¹⁾		687,285		1,333,787
Bank Pekao SA		169,838		8,717,884
Bioton SA⁽¹⁾		42,530,200		532,260
Boryszew SA⁽¹⁾		4,431,900		636,009
BRE Bank SA		23,504		3,156,410
Budimex SA		25,400		760,364
Cinema City International NV⁽¹⁾		71,200		668,224
Cyfrowy Polsat SA⁽¹⁾		1,125,528		7,475,537


		16		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Poland (continued)
Enea SA		202,800	$	857,499
Eurocash SA		447,500		8,318,741
Getin Holding SA		378,250		372,277
Getin Noble Bank SA⁽¹⁾		1,520,086		973,761
Globe Trade Centre SA⁽¹⁾		457,190		1,155,012
Grupa Azoty SA		40,250		820,136
Grupa Kety SA		9,600		445,325
Grupa Lotos SA⁽¹⁾		124,953		1,288,710
ING Bank Slaski SA⁽¹⁾		47,450		1,473,986
Jastrzebska Spolka Weglowa SA		51,700		1,080,461
Kernel Holding SA⁽¹⁾		97,900		1,528,051
KGHM Polska Miedz SA		195,580		6,777,175
KOPEX SA		125,900		406,808
LPP SA		1,711		3,742,045
Lubelski Wegiel Bogdanka SA⁽¹⁾		45,700		1,504,951
Netia SA⁽¹⁾		1,111,077		1,582,119
NG2 SA		43,900		1,289,308
Orbis SA		30,000		324,129
Polimex-Mostostal SA⁽¹⁾		9,735,442		487,789
Polish Oil & Gas		2,349,400		4,553,979
Polska Grupa Energetyczna SA		2,314,800		10,945,907
Polski Koncern Naftowy Orlen SA		435,500		5,911,956
Powszechna Kasa Oszczednosci Bank Polski SA		1,151,310		13,400,695
Powszechny Zaklad Ubezpieczen SA		88,800		12,605,844
Synthos SA		844,500		1,160,887
Tauron Polska Energia SA		3,800,094		5,223,065
Telekomunikacja Polska SA		2,343,250		5,547,491
TVN SA		957,538		3,228,890

			$	127,625,380


Qatar — 1.7%
Aamal Co. QSC⁽¹⁾		169,226	$	662,123
Barwa Bank⁽¹⁾⁽²⁾		82,170		145,076
Barwa Real Estate Co.		282,093		2,036,694
Commercial Bank of Qatar		111,767		2,103,890
Doha Bank, Ltd.		100,995		1,405,026
Gulf International Services QSC		310,225		4,074,300
Industries Qatar		292,319		12,747,163
Masraf Al Rayan		861,150		6,647,537
Qatar Electricity & Water Co.		70,280		3,165,734
Qatar Fuel		20,665		1,521,702
Qatar Gas Transport Co., Ltd. (NAKILAT)		806,240		4,034,162
Qatar Insurance Co.		47,100		794,283
Qatar International Islamic Bank		45,943		681,404
Qatar Islamic Bank		113,487		2,145,345


Security	Shares		Value


Qatar (continued)
Qatar National Bank		291,574	$	14,166,339
Qatar National Cement Co.		11,550		315,895
Qatar National Navigation		114,321		2,384,940
Qatar Telecom QSC		205,996		7,915,552
United Development Co.		112,224		692,834
Vodafone Qatar⁽¹⁾		1,007,110		2,502,187

			$	70,142,186


Romania — 0.6%
Banca Transilvania⁽¹⁾		14,654,147	$	5,462,069
Biofarm Bucuresti		8,351,488		636,029
BRD-Group Societe Generale⁽¹⁾		3,791,160		8,961,590
OMV Petrom SA		54,160,300		6,919,879
Transelectrica SA		391,630		1,531,606
TRANSGAZ SA Medias		23,600		1,316,660

			$	24,827,833


Russia — 6.0%
Aeroflot-Russian Airlines		352,600	$	611,811
CTC Media, Inc.		479,867		5,326,524
Evraz PLC		301,405		429,988
Federal Grid Co. Unified Energy System JSC⁽¹⁾		600,011,482		2,016,639
Federal Hydrogenerating Co. JSC		167,842,712		2,897,637
Federal Hydrogenerating Co. JSC ADR⁽¹⁾		348,000		589,860
Globaltrans Investment PLC GDR⁽³⁾		122,200		1,707,620
IDGC Holding JSC⁽¹⁾		38,530,800		1,267,894
LSR Group GDR⁽³⁾		186,400		786,706
LUKOIL OAO ADR		381,177		22,429,711
Magnit OJSC		36,200		8,779,747
Magnit OJSC GDR⁽³⁾		199,200		11,460,622
Magnitogorsk Iron & Steel Works GDR⁽³⁾		105,708		325,230
Mail.ru Group, Ltd. GDR⁽³⁾		154,300		4,930,955
Mechel ADR⁽¹⁾		378,000		1,073,520
MegaFon OAO GDR		88,200		2,802,893
MMC Norilsk Nickel		2,386		321,004
MMC Norilsk Nickel ADR		492,924		6,591,503
Mobile TeleSystems OJSC		1,616,028		13,404,036
Mosenergo		8,811,603		300,652
NovaTek OAO GDR⁽³⁾		81,616		9,468,629
Novolipetsk Steel GDR⁽³⁾		57,736		837,065
OAO Gazprom		73,400		285,469
OAO Gazprom ADR		4,332,554		33,484,751
OAO Inter Rao Ues⁽¹⁾		3,521,574,300		1,313,547
OAO TMK GDR⁽³⁾		64,757		873,959


		17		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Russia (continued)
PIK Group GDR⁽¹⁾⁽³⁾		166,400	$	360,962
Polymetal International PLC		107,400		1,058,680
Rosneft Oil Co. GDR⁽³⁾		867,350		6,128,028
Rostelecom		1,864,900		6,257,659
Rostelecom ADR		30,400		614,992
Sberbank of Russia		7,838,188		22,554,112
Sberbank of Russia ADR		1,162,000		13,339,404
Severstal OAO GDR⁽³⁾		162,445		1,221,031
Sistema JSFC		3,124,700		2,817,008
Sistema JSFC GDR⁽³⁾		41,430		910,186
SOLLERS		24,262		530,892
Surgutneftegas OJSC ADR		720,903		5,681,443
Surgutneftegas OJSC, PFC Shares		5,596,000		3,656,482
Tatneft ADR		167,166		6,144,041
TGK-2⁽¹⁾		13,779,634		579
Transneft, PFC Shares		1,247		2,955,409
United Co. RUSAL PLC⁽¹⁾		744,000		255,151
Uralkali OJSC GDR⁽³⁾		182,525		3,953,738
VimpelCom, Ltd. ADR		528,684		5,292,127
VTB Bank OJSC GDR⁽³⁾		1,950,370		5,478,271
X5 Retail Group NV GDR⁽¹⁾⁽³⁾		459,894		7,656,668
Yandex NV, Class A⁽¹⁾		385,400		12,525,500

			$	243,710,335


Slovenia — 0.6%
Gorenje DD		301,465	$	1,840,311
KRKA DD		120,905		8,686,341
Luka Koper		118,550		1,603,326
Mercator Poslovni Sistem⁽¹⁾		18,415		2,527,445
Nova Kreditna Banka Maribor⁽¹⁾		637,071		346,306
Petrol		8,994		2,514,969
Reinsurance Co. Sava, Ltd.⁽¹⁾		159,037		1,850,332
Sava DD⁽¹⁾		18,004		70,725
Telekom Slovenije DD		17,842		2,615,893
Zavarovalnica Triglav DD		123,739		2,962,039

			$	25,017,687


South Africa — 6.3%
ABSA Group, Ltd.		219,150	$	3,166,012
Adcock Ingram Holdings, Ltd.		138,900		951,843
AECI, Ltd.		73,130		862,755
African Bank Investments, Ltd.		677,714		998,823
African Rainbow Minerals, Ltd.		94,900		1,559,604
Allied Electronics Corp., Ltd., PFC Shares		186,200		359,339
Anglo Platinum, Ltd.⁽¹⁾		58,680		2,076,019


Security	Shares			Value


South Africa (continued)
AngloGold Ashanti, Ltd.		341,471		$	4,480,597
Aquarius Platinum, Ltd.⁽¹⁾		173,100			118,963
Arcelormittal South Africa, Ltd.⁽¹⁾		50,577			170,601
Aspen Pharmacare Holdings, Ltd.⁽¹⁾		212,931			4,719,639
Aveng, Ltd.		939,990	��		2,790,981
AVI, Ltd.		206,400			1,202,883
Barloworld, Ltd.		621,220			5,150,041
Bidvest Group, Ltd.		562,096			13,885,291
Capital Property Fund		993,764			1,053,860
Capitec Bank Holdings, Ltd.		26,400			482,452
Clicks Group, Ltd.		147,300			855,202
DataTec, Ltd.		140,700			805,674
Discovery Holdings, Ltd.		294,845			2,661,278
FirstRand, Ltd.		1,817,650			5,452,551
Foschini, Ltd.		156,100			1,588,741
Gold Fields, Ltd.		681,677			4,084,552
Grindrod, Ltd.		340,300			789,732
Group Five, Ltd.		81,460			326,266
Growthpoint Properties, Ltd.		883,500			2,226,022
Harmony Gold Mining Co., Ltd.		374,410			1,413,362
Hyprop Investments, Ltd.		92,800			706,398
Illovo Sugar, Ltd.		174,700			577,959
Impala Platinum Holdings, Ltd.		490,598			4,818,754
Imperial Holdings, Ltd.		149,080			3,107,306
Investec, Ltd.		206,500			1,383,747
JD Group, Ltd.		103,590			318,055
JSE, Ltd.		105,800			867,202
Kumba Iron Ore, Ltd.		66,960			2,965,144
Kumba Resources, Ltd.		118,010			1,818,991
Lewis Group, Ltd.		62,700			369,991
Liberty Holdings, Ltd.		126,000			1,561,632
Life Healthcare Group Holdings, Ltd.		741,700			2,702,688
Massmart Holdings, Ltd.		65,350			1,106,556
Mediclinic International, Ltd.		237,520			1,656,357
MMI Holdings, Ltd.		873,296			1,899,490
Mondi, Ltd.		91,130			1,347,156
Mr. Price Group, Ltd.		146,900			1,914,933
MTN Group, Ltd.		2,395,440			44,846,517
Murray & Roberts Holdings, Ltd.⁽¹⁾		784,250			1,883,313
Nampak, Ltd.		465,438			1,505,727
Naspers, Ltd., Class N		276,242			23,102,674
Nedbank Group, Ltd.		148,030			2,665,623
Netcare, Ltd.		777,350			1,846,879
Northam Platinum, Ltd.⁽¹⁾		207,738			761,924
Pick’n Pay Stores, Ltd.		223,470			854,893
PPC, Ltd.		468,427			1,369,566


		18		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


South Africa (continued)
Redefine Properties, Ltd.		2,205,400	$	2,193,878
Remgro, Ltd.		330,100		6,304,659
Reunert, Ltd.		382,460		2,591,799
RMB Holdings, Ltd.		568,400		2,336,691
RMI Holdings		562,900		1,537,229
Sanlam, Ltd.		1,292,190		6,209,905
Sappi, Ltd.⁽¹⁾		415,236		1,108,088
Sasol, Ltd.		445,050		20,447,601
Shoprite Holdings, Ltd.		250,900		4,242,652
Sibanye Gold, Ltd.⁽¹⁾		800,277		621,253
Spar Group, Ltd.		99,800		1,159,275
Standard Bank Group, Ltd.		851,021		9,515,986
Steinhoff International Holdings, Ltd.⁽¹⁾		1,066,540		2,823,897
Sun International, Ltd.		30,482		302,084
Telkom South Africa, Ltd.⁽¹⁾		253,050		495,886
Tiger Brands, Ltd.		128,800		4,005,514
Tongaat-Hulett		70,800		906,393
Truworths International, Ltd.		300,800		2,546,357
Vodacom Group (Pty), Ltd.		613,500		7,242,077
Wilson Bayly Holmes-Ovcon, Ltd.		98,500		1,555,723
Woolworths Holdings, Ltd.		459,909		3,137,374

			$	253,476,879


South Korea — 6.5%
AMOREPACIFIC Corp.		1,388	$	1,170,733
Asiana Airlines, Inc.⁽¹⁾		92,200		393,894
BS Financial Group, Inc.		116,970		1,669,658
Celltrion, Inc.		35,148		2,041,967
Cheil Industries, Inc.		34,600		2,736,069
Cheil Worldwide, Inc.⁽¹⁾		51,100		1,171,065
CJ CheilJedang Corp.		4,296		1,083,457
CJ Corp.		6,100		621,387
CJ O Shopping Co., Ltd.		3,130		1,018,981
Daelim Industrial Co., Ltd.		8,650		683,698
Daewoo Engineering & Construction Co., Ltd.⁽¹⁾		65,741		451,168
Daewoo Industrial Development Co., Ltd.⁽¹⁾⁽²⁾		3,657		26,741
Daewoo International Corp.		21,675		740,969
Daewoo Securities Co., Ltd.		125,693		1,113,055
Daewoo Shipbuilding & Marine Engineering Co., Ltd.		45,080		1,187,981
Daum Communications Corp.		5,600		436,883
DGB Financial Group Co., Ltd.		65,650		983,601
Dong-A Pharmaceutical Co., Ltd.		2,407		312,546
Dong-A ST Co., Ltd.⁽¹⁾		4,078		515,461
Dongbu Insurance Co., Ltd.		36,640		1,551,385
Dongkuk Steel Mill Co., Ltd.		27,430		301,286


Security	Shares		Value


South Korea (continued)
Doosan Corp.		3,160	$	400,473
Doosan Heavy Industries & Construction Co., Ltd.		23,400		959,898
Doosan Infracore Co., Ltd.⁽¹⁾		34,600		379,809
E-Mart Co., Ltd.		7,728		1,454,374
GS Engineering & Construction Corp.		15,070		408,524
GS Holdings Corp.		38,400		1,885,737
Hana Financial Group, Inc.		151,951		4,866,420
Hanjin Shipping Co., Ltd.⁽¹⁾		60,891		437,039
Hankook Tire Co., Ltd.		35,123		1,878,791
Hanmi Pharmaceutical Co., Ltd.⁽¹⁾		6,697		1,001,999
Hansol Paper Co., Ltd.		60,500		657,074
Hanwha Chemical Corp.		81,490		1,362,401
Hanwha Corp.		34,490		943,000
Hite-Jinro Co., Ltd.		20,121		492,219
Honam Petrochemical Corp.		13,270		2,005,654
Hynix Semiconductor, Inc.⁽¹⁾		162,890		3,940,428
Hyosung Corp.		21,380		1,282,087
Hyundai Department Store Co., Ltd.		7,615		1,093,945
Hyundai Development Co.		29,900		530,336
Hyundai Engineering & Construction Co., Ltd.		22,070		1,161,678
Hyundai Glovis Co., Ltd.		16,070		2,768,563
Hyundai Heavy Industries Co., Ltd.		13,270		2,477,072
Hyundai Hysco Co., Ltd.		35,400		1,241,823
Hyundai Marine & Fire Insurance Co., Ltd.		38,700		1,061,754
Hyundai Merchant Marine Co., Ltd.⁽¹⁾		48,500		692,088
Hyundai Mipo Dockyard Co., Ltd.		3,775		446,138
Hyundai Mobis		22,400		5,460,518
Hyundai Motor Co.		56,700		11,724,055
Hyundai Securities Co., Ltd.		43,870		242,873
Hyundai Steel Co.		45,130		2,747,853
Hyundai Wia Corp.		8,900		1,298,907
Industrial Bank of Korea		96,580		979,297
Kangwon Land, Inc.		50,840		1,294,063
KB Financial Group, Inc.		215,911		6,829,517
KCC Corp.		2,345		727,817
Kia Motors Corp.		86,120		4,876,208
Korea Electric Power Corp.⁽¹⁾		214,620		5,478,874
Korea Express Co., Ltd.⁽¹⁾		4,349		380,595
Korea Gas Corp.		25,180		1,398,616
Korea Investment Holdings Co., Ltd.		21,590		780,575
Korea Zinc Co., Ltd.		11,140		2,849,194
Korean Air Lines Co., Ltd.⁽¹⁾		34,902		876,103
Korean Reinsurance Co.		77,034		762,084
KT Corp.		69,653		2,253,813
KT Corp. ADR		16,800		269,136
KT&G Corp.		42,315		2,851,467


		19		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


South Korea (continued)
Kumho Petro Chemical Co., Ltd.		12,900	$	1,030,249
LG Chem, Ltd.		30,218		7,579,151
LG Corp.		43,010		2,499,627
LG Display Co., Ltd.⁽¹⁾		71,100		1,763,924
LG Electronics, Inc.		39,320		2,550,592
LG Hausys, Ltd.		2,858		324,406
LG Household & Health Care, Ltd.		3,550		1,869,258
LG International Corp.		20,600		563,228
LG Life Sciences, Ltd.⁽¹⁾		11,000		565,255
LG Uplus Corp.⁽¹⁾		154,920		1,889,334
LIG Insurance Co., Ltd.		21,900		481,179
Lotte Shopping Co., Ltd.		5,065		1,583,130
LS Corp.		7,030		450,530
LS Industrial Systems Co., Ltd.		9,200		549,262
Macquarie Korea Infrastructure Fund		196,315		1,190,322
Mirae Asset Securities Co., Ltd.		15,680		579,286
NCsoft Corp.		5,150		780,421
NHN Corp.		14,975		3,912,288
Nong Shim Co., Ltd.		2,500		579,319
OCI Co., Ltd.		15,570		2,304,632
ORION Corp.		1,700		1,543,513
POSCO		53,027		15,230,175
S-Oil Corp.		29,385		1,974,159
S1 Corp.		9,450		584,612
Samsung C&T Corp.		48,420		2,394,479
Samsung Card Co., Ltd.		20,460		687,334
Samsung Electro-Mechanics Co., Ltd.		17,390		1,250,712
Samsung Electronics Co., Ltd.		39,300		44,782,997
Samsung Electronics Co., Ltd., PFC Shares		1,928		1,402,956
Samsung Engineering Co., Ltd.		12,600		881,140
Samsung Fine Chemicals Co., Ltd.		18,150		771,162
Samsung Fire & Marine Insurance Co., Ltd.		26,185		5,589,014
Samsung Heavy Industries Co., Ltd.		65,650		2,331,820
Samsung Life Insurance Co., Ltd.		59,400		5,680,934
Samsung SDI Co., Ltd.		13,350		1,934,263
Samsung Securities Co., Ltd.		34,040		1,393,774
Samsung Techwin Co., Ltd.		14,795		926,658
Shinhan Financial Group Co., Ltd.		283,103		10,319,712
Shinsegae Co., Ltd.		5,075		987,525
SK Broadband Co., Ltd.⁽¹⁾		155,846		741,964
SK C&C Co., Ltd.		7,100		641,185
SK Chemicals Co., Ltd.		15,660		596,411
SK Holdings Co., Ltd.		10,315		1,620,417
SK Innovation Co., Ltd.		38,379		5,189,215
SK Networks Co., Ltd.		64,010		369,962
SK Telecom Co., Ltd.		28,168		5,518,982


Security	Shares		Value


South Korea (continued)
SK Telecom Co., Ltd. ADR		9,450	$	204,026
STX Pan Ocean Co., Ltd.⁽¹⁾		54,780		117,088
TONGYANG Securities, Inc.		78,565		249,287
Woongjin Coway Co., Ltd.		22,950		1,223,605
Woori Finance Holdings Co., Ltd.		216,660		2,168,051
Woori Investment & Securities Co., Ltd.		78,408		816,092
Yuhan Corp.		4,368		819,092
Zyle Motor Sales Corp.⁽¹⁾⁽²⁾		5,113		26,740

			$	264,137,323


Taiwan — 6.2%
Acer, Inc.⁽¹⁾		1,396,990	$	1,031,477
Advanced Semiconductor Engineering, Inc.		2,556,135		2,095,664
Ambassador Hotel		298,000		277,400
AmTRAN Technology Co., Ltd.		650,067		455,561
Asia Cement Corp.		1,660,874		2,081,945
Asia Optical Co., Inc.⁽¹⁾		658,907		723,202
Asustek Computer, Inc.		288,325		2,514,569
AU Optronics Corp.⁽¹⁾		3,617,837		1,303,111
Capital Securities Corp.		711,928		237,414
Catcher Technology Co., Ltd.		291,647		1,261,198
Cathay Financial Holding Co., Ltd.		4,308,840		6,289,156
Chailease Holding Co., Ltd.		447,000		1,072,298
Chang Hwa Commercial Bank		2,473,431		1,417,902
Cheng Shin Rubber Industry Co., Ltd.		1,404,063		4,645,133
Chicony Electronics Co., Ltd.		334,248		800,904
Chimei Innolux Corp.⁽¹⁾		3,540,281		1,568,424
China Airlines, Ltd.⁽¹⁾		2,591,887		959,483
China Development Financial Holding Corp.		7,962,050		2,252,797
China Life Insurance Co., Ltd.		1,499,723		1,538,085
China Motor Corp.		881,315		742,424
China Petrochemical Development Corp.		2,917,659		1,493,323
China Steel Corp.		7,958,700		6,577,092
Chinatrust Financial Holding Co., Ltd.		6,519,999		4,300,659
Chipbond Technology Corp.		367,000		808,403
Chong Hong Construction Co., Ltd.		167,800		697,072
Chunghwa Telecom Co., Ltd.		2,517,746		8,049,079
Chunghwa Telecom Co., Ltd. ADR		57,616		1,847,745
Clevo Co.		184,155		342,601
Compal Electronics, Inc.		1,970,345		1,364,989
Coretronic Corp.		649,505		559,651
Delta Electronics, Inc.		725,105		3,517,290
Dynapack International Technology Corp.		111,374		315,065
E Ink Holdings, Inc.		896,000		506,828
E.Sun Financial Holding Co., Ltd.		2,491,701		1,661,717


		20		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Taiwan (continued)
Elan Microelectronics Corp.		345,300	$	647,690
Epistar Corp.⁽¹⁾		526,472		876,713
EVA Airways Corp.⁽¹⁾		1,442,118		803,627
Evergreen International Storage & Transport Corp.		868,000		554,311
Evergreen Marine Corp.⁽¹⁾		1,108,252		620,683
Everlight Electronics Co., Ltd.		281,291		442,762
Far Eastern Department Stores, Ltd.		1,736,925		1,654,305
Far Eastern New Century Corp.		1,563,241		1,763,716
Far EasTone Telecommunications Co., Ltd.		1,464,074		3,725,095
Faraday Technology Corp.		406,880		465,286
Feng Hsin Iron & Steel Co., Ltd.		183,260		322,848
First Financial Holding Co., Ltd.		3,306,341		2,049,388
Formosa Chemicals & Fibre Corp.		2,383,399		5,928,913
Formosa International Hotels Corp.		120,330		1,546,559
Formosa Petrochemical Corp.		1,005,320		2,613,214
Formosa Plastics Corp.		3,203,896		8,050,678
Formosa Taffeta Co., Ltd.		842,000		788,475
Formosan Rubber Group, Inc.		433,000		340,595
Foxconn International Holdings, Ltd.⁽¹⁾		1,391,000		746,127
Foxconn Technology Co., Ltd.		501,961		1,245,025
Fubon Financial Holding Co., Ltd.		3,217,596		4,516,832
Giant Manufacturing Co., Ltd.		254,208		1,921,810
Gintech Energy Corp.⁽¹⁾		429,649		401,685
Goldsun Development & Construction Co., Ltd.		1,672,928		660,748
Great Wall Enterprise Co., Ltd.		716,068		645,006
Highwealth Construction Corp.		305,164		680,305
Hon Hai Precision Industry Co., Ltd.		3,744,810		9,696,481
Hotai Motor Co., Ltd.		244,000		2,696,458
HTC Corp.		315,798		1,675,810
Hua Nan Financial Holdings Co., Ltd.		3,135,168		1,824,157
Inventec Co., Ltd.		635,966		479,645
Kinsus Interconnect Technology Corp.		182,000		648,017
Largan Precision Co., Ltd.		43,795		1,520,926
Lite-On Technology Corp.		1,014,034		1,726,226
Macronix International Co., Ltd.⁽¹⁾		1,202,873		289,564
MediaTek, Inc.		470,462		5,647,843
Mega Financial Holding Co., Ltd.		4,706,352		3,930,543
Merida Industry Co., Ltd.		370,150		2,468,173
Motech Industries, Inc.⁽¹⁾		629,451		814,082
Nan Kang Rubber Tire Co., Ltd.		1,153,253		1,373,851
Nan Ya Plastics Corp.		3,760,608		7,897,672
Neo Solar Power Corp.⁽¹⁾		588,631		418,227
Novatek Microelectronics Corp., Ltd.		295,942		1,308,072
Pegatron Corp.⁽¹⁾		718,028		1,060,027
Phison Electronics Corp.		112,363		837,519
Pou Chen Corp.		2,794,819		2,859,946


Security	Shares		Value


Taiwan (continued)
Powertech Technology, Inc.		547,865	$	1,049,461
President Chain Store Corp.		619,664		4,617,056
Quanta Computer, Inc.		1,254,508		2,918,031
Radiant Opto-Electronics Corp.		281,264		880,353
Radium Life Tech Co., Ltd.		373,956		335,476
Realtek Semiconductor Corp.		301,983		721,304
RichTek Technology Corp.		101,478		412,360
Ruentex Development Co., Ltd.		657,306		1,284,600
Ruentex Industries, Ltd.		1,126,005		2,576,310
Sanyang Industrial Co., Ltd.⁽¹⁾		1,819,866		1,835,970
Shin Kong Financial Holding Co., Ltd.⁽¹⁾		4,423,368		1,497,733
Shin Kong Synthetic Fibers Corp.		1,321,483		436,507
Siliconware Precision Industries Co., Ltd.		1,135,243		1,315,607
Simplo Technology Co., Ltd.		205,889		905,668
Sino-American Silicon Products, Inc.		576,233		682,158
SinoPac Financial Holdings Co., Ltd.		4,091,978		2,060,358
Solar Applied Materials Technology Corp.		336,245		308,061
Synnex Technology International Corp.		730,818		917,918
Tainan Spinning Co., Ltd.		891,959		433,962
Taishin Financial Holdings Co., Ltd.		4,306,735		2,003,277
Taiwan Business Bank⁽¹⁾		1,862,658		566,039
Taiwan Cement Corp.		2,568,850		3,137,522
Taiwan Cooperative Financial Holding Co., Ltd.		2,608,237		1,491,030
Taiwan Fertilizer Co., Ltd.		816,000		1,993,381
Taiwan Glass Industry Corp.		542,564		508,855
Taiwan Mobile Co., Ltd.		1,458,784		5,299,321
Taiwan Semiconductor Manufacturing Co., Ltd.		6,940,465		23,602,346
Taiwan Tea Corp.⁽¹⁾		395,711		250,599
Tatung Co., Ltd.⁽¹⁾		2,377,785		601,460
Teco Electric & Machinery Co., Ltd.		482,000		525,046
Tong Yang Industry Co., Ltd.		597,667		851,204
TPK Holding Co., Ltd.		118,148		1,386,715
Tripod Technology Corp.		396,535		825,407
TSRC Corp.		660,060		1,196,649
TTY Biopharm Co., Ltd.		459,852		1,639,871
Tung Ho Steel Enterprise Corp.		532,060		450,441
U-Ming Marine Transport Corp.		186,000		281,524
Uni-President Enterprises Corp.		3,822,880		7,797,497
Unimicron Technology Corp.		948,000		870,064
United Microelectronics Corp.		5,337,090		2,387,189
Walsin Lihwa Corp.⁽¹⁾		1,921,000		561,963
Wan Hai Lines, Ltd.		518,962		277,603
Waterland Financial Holdings		1,030,470		345,666
Wei Chuan Food Corp.		623,000		1,151,545
Wintek Corp.⁽¹⁾		1,356,877		551,947
Wistron Corp.		1,071,526		1,020,630


		21		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Taiwan (continued)
WPG Holdings Co., Ltd.		745,489	$	927,028
Yageo Corp.⁽¹⁾		788,000		264,094
Yang Ming Marine Transport⁽¹⁾		1,181,755		502,356
Yieh Phui Enterprise		1,089,553		323,275
Young Fast Optoelectronics Co., Ltd.		147,302		213,126
Yuanta Financial Holding Co., Ltd.		5,130,938		2,676,082
Yuen Foong Yu Paper Manufacturing Co., Ltd.		899,120		438,835
Yulon Motor Co., Ltd.		1,342,809		2,166,693

			$	252,770,469


Thailand — 3.1%
Advanced Info Service PCL⁽⁵⁾		1,386,500	$	12,607,158
Airports of Thailand PCL⁽⁵⁾		667,400		3,791,103
AP Thailand PCL		2,877,000		538,418
Bangkok Bank PCL		252,500		1,653,172
Bangkok Bank PCL⁽⁵⁾		235,700		1,574,591
Bangkok Dusit Medical Services PCL⁽⁵⁾		559,400		2,618,786
Bank of Ayudhya PCL		505,000		601,220
Bank of Ayudhya PCL⁽⁵⁾		2,318,300		2,760,017
Banpu PCL⁽⁵⁾		113,400		836,725
BEC World PCL⁽⁵⁾		1,396,900		2,745,232
Berli Jucker PCL⁽⁵⁾		617,000		851,400
Big C Supercenter PCL⁽⁵⁾		268,600		1,660,428
Bumrungrad Hospital PCL⁽⁵⁾		899,500		2,331,812
Central Pattana PCL⁽⁵⁾		1,562,400		2,148,839
CH. Karnchang PCL⁽⁵⁾		892,200		521,684
Charoen Pokphand Foods PCL⁽⁵⁾		3,259,100		2,918,372
CP ALL PCL⁽⁵⁾		4,702,700		5,263,028
Delta Electronics (Thailand) PCL⁽⁵⁾		1,087,100		1,558,760
Electricity Generating PCL⁽⁵⁾		316,200		1,374,227
Glow Energy PCL⁽⁵⁾		877,300		1,917,051
Hana Microelectronics PCL⁽⁵⁾		1,397,700		906,966
Indorama Ventures PCL⁽⁵⁾		1,761,100		1,000,602
IRPC PCL⁽⁵⁾		12,191,400		1,238,084
Italian-Thai Development PCL⁽¹⁾⁽⁵⁾		8,325,200		1,249,584
Kasikornbank PCL⁽⁵⁾		1,087,900		6,501,031
Khon Kaen Sugar Industry PCL		1,832,000		749,639
Krung Thai Bank PCL⁽⁵⁾		3,910,200		2,212,210
L.P.N. Development PCL⁽⁵⁾		1,255,000		854,070
Land & Houses PCL⁽⁵⁾		2,593,500		837,315
Minor International PCL⁽⁵⁾		2,557,797		1,876,785
Pruksa Real Estate PCL⁽⁵⁾		1,602,000		960,608
PTT Exploration & Production PCL⁽⁵⁾		1,303,898		6,499,681
PTT Global Chemical PCL⁽⁵⁾		1,589,550		3,353,657
PTT PCL⁽⁵⁾		794,860		8,404,212


Security	Shares		Value


Thailand (continued)
Quality House PCL⁽⁵⁾		8,677,625	$	752,688
Ratchaburi Electricity Generating Holding PCL⁽⁵⁾		676,000		1,101,000
Samart Corp. PCL⁽⁵⁾		1,341,500		811,213
Siam Cement PCL⁽⁵⁾		277,800		4,077,744
Siam City Cement PCL⁽⁵⁾		47,690		651,241
Siam Commercial Bank PCL⁽⁵⁾		1,398,600		7,083,118
Siam Makro PCL⁽⁵⁾		95,900		2,378,762
Sino Thai Engineering & Construction PCL⁽⁵⁾		2,449,157		1,511,494
Thai Airways International PCL⁽⁵⁾		1,332,800		968,581
Thai Beverage PCL		9,582,000		4,072,454
Thai Oil PCL⁽⁵⁾		857,600		1,670,134
Thai Tap Water Supply Co., Ltd.⁽⁵⁾		3,598,200		1,241,851
Thai Union Frozen Products PCL⁽⁵⁾		772,002		1,387,747
Thanachart Capital PCL⁽⁵⁾		779,400		835,052
Thoresen Thai Agencies PCL⁽¹⁾⁽⁵⁾		1,153,824		564,393
TMB Bank PCL⁽⁵⁾		22,274,000		1,665,496
Total Access Communication PCL		407,200		1,486,214
Total Access Communication PCL⁽⁵⁾		723,300		2,714,392
TPI Polene PCL⁽⁵⁾		1,115,200		394,966
True Corp. PCL⁽¹⁾⁽⁵⁾		8,208,197		2,055,410

			$	124,340,417


Turkey — 3.2%
Akbank TAS		2,398,833	$	9,184,332
Akcansa Cimento AS		126,800		711,857
Akenerji Elektrik Uretim AS⁽¹⁾		598,472		407,604
Aksa Akrilik Kimya Sanayii AS		185,209		704,699
Albaraka Turk Katilim Bankasi AS⁽¹⁾		522,467		493,476
Anadolu Efes Biracilik ve Malt Sanayii AS		259,039		3,565,034
Arcelik AS		385,454		2,568,702
Asya Katilim Bankasi AS⁽¹⁾		944,900		949,340
Aygaz AS		191,813		874,904
Bagfas Bandirma Gubre Fabrikalari AS		16,700		357,613
BIM Birlesik Magazalar AS		271,220		6,239,604
Cimsa Cimento Sanayi ve Ticaret AS		141,400		817,299
Coca-Cola Icecek AS		102,700		2,885,859
Dogan Sirketler Grubu Holding AS⁽¹⁾		2,831,509		1,384,345
Dogan Yayin Holding AS⁽¹⁾		1,715,904		618,821
Eczacibasi Ilac Sanayi ve Ticaret AS		557,300		623,325
Enka Insaat ve Sanayi AS		1,663,355		4,585,458
Eregli Demir ve Celik Fabrikalari TAS		4,955,451		4,914,921
Ford Otomotiv Sanayi AS		94,600		1,357,233
Gubre Fabrikalari TAS⁽¹⁾		59,900		470,280
Haci Omer Sabanci Holding AS		1,081,418		5,406,245
Ihlas Holding AS⁽¹⁾		1,865,600		795,124


		22		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Security	Shares		Value


Turkey (continued)
Is Gayrimenkul Yatirim Ortakligi AS		553,650	$	397,863
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D⁽¹⁾		2,900,028		1,746,536
KOC Holding AS		1,602,860		7,068,097
Koza Altin Isletmeleri AS		152,600		2,103,730
Koza Anadolu Metal Madencilik Isletmeleri AS⁽¹⁾		780,100		1,261,732
Petkim Petrokimya Holding AS⁽¹⁾		998,561		1,391,983
Sekerbank TAS⁽¹⁾		747,999		739,988
TAV Havalimanlari Holding AS		328,300		2,051,963
Tekfen Holding AS		614,917		1,941,021
Tofas Turk Otomobil Fabrikasi AS		194,200		1,283,144
Trakya Cam Sanayii AS		943,167		1,217,882
Tupras-Turkiye Petrol Rafinerileri AS		329,970		7,064,191
Turcas Petrolculuk AS		395,759		610,797
Turk Hava Yollari Anonim Ortakligi (THY) AS		1,364,845		5,731,291
Turk Sise ve Cam Fabrikalari AS		1,773,662		2,546,301
Turk Telekomunikasyon AS		1,012,600		3,626,765
Turkcell Iletisim Hizmetleri AS⁽¹⁾		1,518,000		8,804,032
Turkiye Garanti Bankasi AS		2,804,400		10,944,458
Turkiye Halk Bankasi AS		769,500		5,780,443
Turkiye Is Bankasi		1,784,807		4,727,490
Turkiye Sinai Kalkinma Bankasi AS		476,663		460,919
Turkiye Vakiflar Bankasi TAO		1,413,300		3,076,230
Ulker Gida Sanayi ve Ticaret AS		277,059		1,871,227
Yapi ve Kredi Bankasi AS		953,085		2,073,840
Yazicilar Holding AS		156,400		1,799,917
Zorlu Enerji Elektrik Uretim AS⁽¹⁾		299,054		203,052

			$	130,440,967


Ukraine — 0.1%
Astarta Holding NV⁽¹⁾		43,910	$	1,012,514
Avangardco Investments Public, Ltd. GDR⁽¹⁾		53,218		478,960
Ferrexpo PLC		1,008,205		2,596,855
MHP SA GDR⁽³⁾		91,701		1,631,180

			$	5,719,509


United Arab Emirates — 1.7%
Aabar Investments (PJSC)⁽¹⁾⁽²⁾		2,497,440	$	0
Abu Dhabi Commercial Bank (PJSC)		3,707,200		5,373,385
Abu Dhabi National Hotels		718,461		448,508
Agthia Group (PJSC)		1,252,100		1,130,692
Air Arabia (PJSC)		14,733,200		5,581,825
Ajman Bank (PJSC)⁽¹⁾		2,096,900		1,311,530
Aldar Properties (PJSC)		4,957,759		3,636,233
Amlak Finance (PJSC)⁽¹⁾⁽²⁾		227,500		0
Arabtec Holding Co.⁽¹⁾		16,067,836		9,871,058


Security	Shares		Value


United Arab Emirates (continued)
Aramex (PJSC)		982,500	$	681,748
Dana Gas⁽¹⁾		9,107,790		1,562,272
DP World, Ltd.		661,916		10,511,730
Dubai Financial Market⁽¹⁾		2,424,500		1,305,755
Dubai Investments (PJSC)		749,225		385,633
Emaar Properties (PJSC)		5,104,000		8,302,771
First Gulf Bank (PJSC)		1,287,740		5,789,327
National Bank of Abu Dhabi (PJSC)		2,565,163		9,105,849
Ras Al Khaimah Properties (PJSC)		2,244,000		361,934
Union National Bank		1,733,338		2,500,728
Waha Capital (PJSC)		2,364,751		610,635

			$	68,471,613


Vietnam — 0.7%
Bank for Foreign Trade of Vietnam JSC		1,101,940	$	1,394,379
Baoviet Holdings		676,500		1,330,270
Development Investment Construction Corp.		220,934		94,903
FPT Corp.		676,666		1,374,656
Gemadept Corp.⁽¹⁾		312,000		370,842
Hagl JSC⁽¹⁾		1,085,438		1,050,555
HCM City Infrastructure Investment JSC		547,500		460,115
Hoa Phat Group JSC		1,239,332		1,772,237
Kim Long Securities Corp.⁽¹⁾		1,377,700		532,695
Kinh Bac City Development Share Holding Corp.⁽¹⁾		328,860		108,946
Kinhdo Corp.		606,900		1,396,479
Masan Group Corp.⁽¹⁾		315,390		1,319,965
PetroVietnam Construction JSC⁽¹⁾		919,725		191,136
PetroVietnam Drilling and Well Services JSC		587,083		1,399,477
PetroVietnam Fertilizer and Chemical JSC		880,500		1,642,555
PetroVietnam Technical Services JSC		1,713,000		1,286,540
Pha Lai Thermal Power JSC		483,390		522,635
Phu Nhuan Jewelry JSC		181,200		225,870
Refrigeration Electrical Engineering Corp.		1,182,100		1,394,610
Saigon Securities, Inc.		882,600		688,001
Song Da Urban & Industrial Zone Investment and Development JSC⁽¹⁾		153,250		85,999
Tan Tao Investment Industry Co.⁽¹⁾		1,554,839		418,429
Vietnam Construction and Import-Export JSC⁽¹⁾		621,655		305,079
Vietnam Dairy Products JSC		519,727		3,557,827
Vietnam Joint Stock Commercial Bank for Industry and Trade⁽¹⁾		2,478,310		2,246,505
Vincom JSC⁽¹⁾		1,176,119		3,497,738

			$	28,668,443


Total Common Stocks (identified cost $3,818,588,471)			$	3,955,929,081


		23		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued


Corporate Bonds — 0.0%⁽⁴⁾


Security		Principal Amount (000’s omitted)		Value


India — 0.0%⁽⁴⁾
Dr. Reddy’s Laboratories, Ltd., 9.25%, 3/24/14	INR		1,240	$	20,264


Total Corporate Bonds (identified cost $27,437)				$	20,264



Equity-Linked Securities⁽⁶⁾ — 0.9%


Security	Maturity Date		Shares		Value


Saudi Arabia — 0.9%
Abdullah Al Othaim Markets⁽⁷⁾		8/13/14		18,000	$	560,355
Al Abdullatif Industrial Investment Co.⁽⁷⁾		5/4/15		64,200		720,693
Al Rajhi Bank⁽⁷⁾		2/16/15		169,493		3,451,733
Al Tayyar⁽⁷⁾		7/2/15		56,400		1,278,300
Alinma Bank⁽⁷⁾		2/23/15		250,600		987,289
Almarai Co.⁽⁷⁾		11/24/14		79,999		1,778,502
Arab National Bank⁽⁷⁾		5/11/15		59,500		514,833
Bank Albilad⁽⁷⁾		4/30/15		83,166		655,294
Banque Saudi Fransi⁽⁷⁾		2/23/15		75,630		690,699
Dar Al Arkan Real Estate Development⁽⁷⁾		8/10/15		185,500		536,670
Etihad Etissalat Co⁽⁷⁾		12/5/14		154,138		3,457,554
Fawaz Abdulaziz Alhokair Co.⁽⁷⁾		2/23/15		30,000		1,064,915
Jarir Marketing Co.⁽⁷⁾		5/4/15		16,950		951,384
Mobile Telecommunications Co.⁽⁷⁾		5/4/15		227,977		615,492
National Industrialization Co.⁽⁷⁾		5/4/15		211,503		1,452,201
Rabigh Refining and Petrochemicals Co.⁽⁷⁾		10/13/14		92,400		386,200
Riyad Bank⁽⁷⁾		12/15/14		126,700		846,286
Sahara Petrochemical Co.⁽⁷⁾		9/21/15		122,800		522,268
Samba Financial Group⁽⁷⁾		2/10/15		82,008		1,153,484
Saudi Airlines Catering Co.⁽⁷⁾		8/3/15		5,500		182,219
Saudi Arabian Amiantit Co.⁽⁷⁾		5/11/15		106,500		401,825
Saudi Arabian Fertilizer Co.⁽⁷⁾		5/11/15		28,633		1,108,962
Saudi Arabian Mining Co.⁽⁷⁾		5/11/15		54,900		408,423
Saudi Basic Industries Corp⁽⁷⁾		2/23/15		139,396		3,475,324
Saudi British Bank⁽⁷⁾		10/4/13		62,300		664,479
Saudi Cable Co.⁽⁷⁾		8/10/15		97,900		334,142
Saudi Cement Co.⁽⁷⁾		8/10/15		25,900		726,868
Saudi Chemical Co.⁽⁷⁾		5/1/15		25,900		315,610
Saudi Electricity Co.⁽⁷⁾		3/27/15		268,400		937,548
Saudi Industrial Investment Group⁽⁷⁾		3/27/15		95,000		683,943
Saudi International Petrochemical Co.⁽⁷⁾		3/27/15		90,700		586,475
Saudi Kayan Petrochemical Co.⁽⁷⁾		3/27/15		247,500		739,134
Saudi Telecom Co.⁽⁷⁾		5/11/15		115,700		1,237,122

Security

Maturity
Date

Shares

Value

Saudi Arabia (continued)

Savola Group⁽⁷⁾

2/2/15

115,300

1,637,133

Yanbu National Petrochemical Co.⁽⁷⁾

3/9/15

51,400

791,498

Total Equity-Linked Securities
(identified cost $32,104,409)

35,854,857



Investment Funds — 0.1%


Security	Shares		Value

Vietnam Enterprise Investments, Ltd.⁽¹⁾		1,239,727	$	2,764,591


Total Investment Funds (identified cost $5,027,204)			$	2,764,591


Rights⁽¹⁾ — 0.0%⁽⁴⁾


Security	Shares		Value
Banco Santander Brasil SA, Exp. 8/2/13		1,223,527	$	5,363
Italian-Thai Development PCL, Exp. 8/9/13		1,323,707		71,895
Polimex-Mostostal SA		3,081,072		0


Total Rights (identified cost $0)			$	77,258


Warrants⁽¹⁾ — 0.0%⁽⁴⁾


Security	Shares		Value
Thoresen Thai Agencies PCL, Exp. 9/12/15, Strike THB 17.00		164,832	$	23,066
WCT Bhd, Exp. 12/11/17, Strike MYR 2.25		135,200		19,796


Total Warrants (identified cost $14,973)			$	42,862


Short-Term Investments — 1.0%


Description	Principal Amount (000’s omitted)		Value
State Street Bank and Trust Euro Time Deposit, 0.01%, 8/1/13	$	39,469	$	39,469,308


Total Short-Term Investments (identified cost $39,469,308)			$	39,469,308


Total Investments — 99.6% (identified cost $3,895,231,802)			$	4,034,158,221


Other Assets, Less Liabilities — 0.4%			$	18,181,879


Net Assets — 100.0%			$	4,052,340,100


		24		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Portfolio of Investments (Unaudited) — continued

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.


ADR	–	American Depositary Receipt
BDR	–	Brazilian Depositary Receipt
GDR	–	Global Depositary Receipt
PCL	–	Public Company Ltd.
PFC Shares	–	Preference Shares
INR	–	Indian Rupee
MYR	–	Malaysian Ringgit
THB	–	Thai Baht

⁽¹⁾	Non-income producing security.

⁽²⁾	For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 11).

⁽³⁾

⁽⁴⁾	Amount is less than 0.05%.

⁽⁵⁾	Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits.

⁽⁶⁾	Security whose performance, including redemption at maturity, is linked to the price of the underlying equity security. The investment is subject to credit risk of the issuing financial institution (HSBC Bank plc) in addition to the market risk of the underlying security.

⁽⁷⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to qualified institutional buyers) and remain exempt from registration. At July 31, 2013, the aggregate value of these securities is $35,854,857 or 0.9% of the Fund’s net assets.


Currency Concentration of Portfolio


Currency	Percentage of Net Assets			Value
United States Dollar		13.3	%	$	538,774,851
Hong Kong Dollar		8.4			340,183,770
South Korean Won		6.5			263,664,161
South African Rand		6.3			253,357,916
New Taiwan Dollar		6.2			250,176,597
Brazilian Real		6.1			247,146,986
Indian Rupee		5.9			240,906,854
Mexican Peso		5.4			219,461,244
New Turkish Lira		3.2			130,440,967
Polish Zloty		3.2			128,637,894
Indonesian Rupiah		3.1			125,816,512
Chilean Peso		3.1			124,385,623
Malaysian Ringgit		3.1			123,951,595
Thai Baht		2.9			118,876,710
Qatari Riyal		1.7			70,142,186
Czech Koruna		1.7			68,056,535
Hungarian Forint		1.6			65,924,096
Kuwaiti Dinar		1.6			64,788,168
Philippine Peso		1.6			63,036,489
Egyptian Pound		1.5			60,381,681
United Arab Emirates Dirham		1.4			57,959,883
Colombian Peso		1.4			56,998,484
Other currency, less than 1% each		10.4			421,089,019

Total Investments		99.6	%	$	4,034,158,221


Sector Classification of Portfolio


Sector	Percentage of Net Assets			Value
Financials		26.3	%	$	1,067,563,960
Telecommunication Services		10.4			420,266,913
Materials		10.3			417,128,522
Energy		10.1			407,513,446
Industrials		10.0			404,819,084
Consumer Staples		9.2			373,723,739
Information Technology		7.7			312,226,570
Consumer Discretionary		7.4			300,853,915
Utilities		4.8			195,864,192
Health Care		2.3			91,943,717
Other		1.0			39,489,572
Investment Funds		0.1			2,764,591

Total Investments		99.6	%	$	4,034,158,221


		25		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Statement of Assets and Liabilities (Unaudited)


Assets	July 31, 2013
Investments, at value (identified cost, $3,895,231,802)	$	4,034,158,221
Cash		33,823
Foreign currency, at value (identified cost, $11,985,104)		11,932,530
Dividends and interest receivable		11,249,357
Receivable for investments sold		14,982
Receivable for Fund shares sold		15,438,594
Tax reclaims receivable		488,033
Total assets	$	4,073,315,540

Liabilities
Payable for investments purchased	$	11,246,085
Payable for Fund shares redeemed		4,610,269
Payable to affiliates:
Investment adviser fee		2,629,408
Administration fee		506,772
Distribution and service fees		207,073
Accrued foreign capital gains taxes		478,583
Accrued expenses		1,297,250
Total liabilities	$	20,975,440
Net Assets	$	4,052,340,100

Sources of Net Assets
Paid-in capital	$	3,946,560,474
Accumulated net realized loss		(72,528,956	)
Accumulated undistributed net investment income		40,100,994
Net unrealized appreciation		138,207,588
Total	$	4,052,340,100

Investor Class Shares
Net Assets	$	895,989,128
Shares Outstanding		63,056,185
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	14.21

Class C Shares
Net Assets	$	21,773,258
Shares Outstanding		1,550,862
Net Asset Value and Offering Price Per Share*
(net assets ÷ shares of beneficial interest outstanding)	$	14.04

Institutional Class Shares
Net Assets	$	3,134,577,714
Shares Outstanding		219,679,079
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	14.27

*	Redemption price per share is equal to the net asset value less any applicable contingent deferred sales charge.


		26		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Statement of Operations (Unaudited)


Investment Income	Six Months Ended July 31, 2013
Dividends (net of foreign taxes, $8,217,616)	$	73,466,247
Interest (net of foreign taxes, $201)		2,434
Total investment income	$	73,468,681

Expenses
Investment adviser fee	$	14,708,075
Administration fee		2,830,040
Distribution and service fees
Investor Class		1,047,660
Class C		112,255
Trustees’ fees and expenses		34,000
Custodian fee		2,621,557
Transfer and dividend disbursing agent fees		1,055,426
Legal and accounting services		56,576
Printing and postage		86,861
Registration fees		172,661
Miscellaneous		64,474
Total expenses	$	22,789,585

Net investment income	$	50,679,096

Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions	$	(2,600,313	)
Foreign currency transactions		(1,372,107	)
Net realized loss	$	(3,972,420	)
Change in unrealized appreciation (depreciation) —
Investments (net of increase in accrued foreign capital gains taxes of $30,682)	$	(311,857,354	)
Foreign currency		(254,954	)
Net change in unrealized appreciation (depreciation)	$	(312,112,308	)

Net realized and unrealized loss	$	(316,084,728	)

Net decrease in net assets from operations	$	(265,405,632	)


		27		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Statements of Changes in Net Assets


Increase (Decrease) in Net Assets	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013
From operations —
Net investment income	$	50,679,096		$	41,883,282
Net realized loss from investment and foreign currency transactions		(3,972,420	)		(11,146,455	)
Net change in unrealized appreciation (depreciation) from investments and foreign currency		(312,112,308	)		313,232,350
Net increase (decrease) in net assets from operations	$	(265,405,632	)	$	343,969,177
Distributions to shareholders —
From net investment income
Investor Class	$	—		$	(8,541,444	)
Class C		—			(112,543	)
Institutional Class		—			(35,860,230	)
Tax return of capital
Investor Class		—			(501,753	)
Class C		—			(6,611	)
Institutional Class		—			(2,106,548	)
Total distributions to shareholders	$	—		$	(47,129,129	)
Transactions in shares of beneficial interest —
Proceeds from sale of shares
Investor Class	$	309,289,490		$	308,459,699
Class C		2,373,763			4,847,765
Institutional Class		765,976,409			874,027,705
Net asset value of shares issued to shareholders in payment of distributions declared
Investor Class		—			8,746,689
Class C		—			89,763
Institutional Class		—			30,549,286
Cost of shares redeemed
Investor Class		(93,254,497	)		(139,255,686	)
Class C		(2,281,494	)		(6,181,813	)
Institutional Class		(165,629,006	)		(381,683,788	)
Net increase in net assets from Fund share transactions	$	816,474,665		$	699,599,620

Net increase in net assets	$	551,069,033		$	996,439,668

Net Assets
At beginning of period	$	3,501,271,067		$	2,504,831,399
At end of period	$	4,052,340,100		$	3,501,271,067

Accumulated undistributed (distributions in excess of) net investment income included in net assets
At end of period	$	40,100,994		$	(10,578,102	)


		28		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Financial Highlights


	Investor Class
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013			Period Ended January 31, 2012⁽¹⁾			Year Ended October 31,
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013			Period Ended January 31, 2012⁽¹⁾			2011			2010			2009			2008
Net asset value — Beginning of period	$	15.260		$	13.940		$	13.750		$	15.540		$	12.440		$	8.290		$	17.500

Income (Loss) From Operations
Net investment income (loss)⁽²⁾	$	0.185		$	0.173		$	(0.014	)	$	0.201		$	0.105		$	0.121		$	0.190
Net realized and unrealized gain (loss)		(1.235	)		1.339			0.328			(1.826	)		3.082			4.120			(9.216	)

Total income (loss) from operations	$	(1.050	)	$	1.512		$	0.314		$	(1.625	)	$	3.187		$	4.241		$	(9.026	)

Less Distributions
From net investment income	$	—		$	(0.181	)	$	(0.124	)	$	(0.165	)	$	(0.089	)	$	(0.092	)	$	(0.087	)
From net realized gain		—			—			—			—			—			—			(0.098	)
Tax return of capital		—			(0.011	)		—			—			—			—			—

Total distributions	$	—		$	(0.192	)	$	(0.124	)	$	(0.165	)	$	(0.089	)	$	(0.092	)	$	(0.185	)

Redemption fees⁽²⁾⁽³⁾	$	—		$	—		$	—		$	0.000	⁽⁴⁾	$	0.002		$	0.001		$	0.001

Net asset value — End of period	$	14.210		$	15.260		$	13.940		$	13.750		$	15.540		$	12.440		$	8.290

Total Return⁽⁵⁾		(6.88	)%⁽⁶⁾		10.89	%		2.38	%⁽⁶⁾		(10.59	)%		25.77	%		51.81	%		(52.10	)%

Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	895,989		$	738,776		$	493,567		$	481,194		$	267,040		$	104,727		$	74,062
Ratios (as a percentage of average daily net assets):
Expenses⁽⁷⁾		1.39	%⁽⁸⁾		1.42	%		1.45	%⁽⁸⁾		1.45	%		1.51	%		1.57	%⁽⁹⁾		1.50	%⁽⁹⁾
Net investment income (loss)		2.53	%⁽⁸⁾		1.22	%		(0.43	)%⁽⁸⁾		1.33	%		0.77	%		1.26	%		1.33	%
Portfolio Turnover		1	%⁽⁶⁾		3	%		0	%^(6)(10)		3	%		8	%		11	%		5	%

⁽¹⁾	For the three months ended January 31, 2012. The Fund changed its fiscal year-end from October 31 to January 31.

⁽²⁾	Computed using average shares outstanding.

⁽³⁾	Redemption fees were discontinued as of January 1, 2011.

⁽⁴⁾	Amount is less than $0.0005.

⁽⁵⁾	Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any.

⁽⁶⁾	Not annualized.

⁽⁷⁾	Excludes the effect of custody fee credits, if any, of less than 0.005%.

⁽⁸⁾	Annualized.

⁽⁹⁾	The investment adviser and administrator waived a portion of its fees and subsidized certain operating expenses (equal to 0.02% and 0.20% of average daily net assets for the years ended October 31, 2009 and 2008, respectively).

⁽¹⁰⁾	Amount is less than 0.5%.


		29		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Financial Highlights — continued


	Class C
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013			Period Ended January 31, 2012⁽¹⁾			Year Ended October 31,
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013			Period Ended January 31, 2012⁽¹⁾			2011			2010			2009			2008
Net asset value — Beginning of period	$	15.130		$	13.820		$	13.530		$	15.310		$	12.280		$	8.160		$	17.320

Income (Loss) From Operations
Net investment income (loss)⁽²⁾	$	0.123		$	0.095		$	(0.038	)	$	0.074		$	0.020		$	0.042		$	0.092
Net realized and unrealized gain (loss)		(1.213	)		1.294			0.333			(1.792	)		3.032			4.087			(9.117	)

Total income (loss) from operations	$	(1.090	)	$	1.389		$	0.295		$	(1.718	)	$	3.052		$	4.129		$	(9.025	)

Less Distributions
From net investment income	$	—		$	(0.075	)	$	(0.005	)	$	(0.062	)	$	(0.024	)	$	(0.010	)	$	(0.038	)
From net realized gain		—			—			—			—			—			—			(0.098	)
Tax return of capital		—			(0.004	)		—			—			—			—			—

Total distributions	$	—		$	(0.079	)	$	(0.005	)	$	(0.062	)	$	(0.024	)	$	(0.010	)	$	(0.136	)

Redemption fees⁽²⁾⁽³⁾	$	—		$	—		$	—		$	0.000	⁽⁴⁾	$	0.002		$	0.001		$	0.001

Net asset value — End of period	$	14.040		$	15.130		$	13.820		$	13.530		$	15.310		$	12.280		$	8.160

Total Return⁽⁵⁾		(7.20	)%⁽⁶⁾		10.07	%		2.18	%⁽⁶⁾		(11.27	)%		24.91	%		50.69	%		(52.50	)%

Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	21,773		$	23,348		$	22,646		$	22,866		$	22,800		$	16,918		$	9,828
Ratios (as a percentage of average daily net assets):
Expenses⁽⁷⁾		2.14	%⁽⁸⁾		2.16	%		2.19	%⁽⁸⁾		2.19	%		2.26	%		2.32	%⁽⁹⁾		2.25	%⁽⁹⁾
Net investment income (loss)		1.70	%⁽⁸⁾		0.68	%		(1.18	)%⁽⁸⁾		0.49	%		0.15	%		0.44	%		0.65	%
Portfolio Turnover		1	%⁽⁶⁾		3	%		0	%^(6)(10)		3	%		8	%		11	%		5	%

⁽¹⁾	For the three months ended January 31, 2012. The Fund changed its fiscal year-end from October 31 to January 31.

⁽²⁾	Computed using average shares outstanding.

⁽³⁾	Redemption fees were discontinued as of January 1, 2011.

⁽⁴⁾	Amount is less than $0.0005.

⁽⁵⁾	Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges.

⁽⁶⁾	Not annualized.

⁽⁷⁾	Excludes the effect of custody fee credits, if any, of less than 0.005%.

⁽⁸⁾	Annualized.

⁽⁹⁾	The investment adviser and administrator waived a portion of its fees and subsidized certain operating expenses (equal to 0.02% and 0.20% of average daily net assets for the years ended October 31, 2009 and 2008, respectively).

⁽¹⁰⁾	Amount is less than 0.5%.


		30		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Financial Highlights — continued


	Institutional Class
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013			Period Ended January 31, 2012⁽¹⁾			Year Ended October 31,
	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013			Period Ended January 31, 2012⁽¹⁾			2011			2010			2009			2008
Net asset value — Beginning of period	$	15.310		$	13.970		$	13.810		$	15.580		$	12.460		$	8.320		$	17.540

Income (Loss) From Operations
Net investment income (loss)⁽²⁾	$	0.200		$	0.222		$	(0.006	)	$	0.233		$	0.163		$	0.156		$	0.231
Net realized and unrealized gain (loss)		(1.240	)		1.339			0.322			(1.821	)		3.071			4.109			(9.251	)

Total income (loss) from operations	$	(1.040	)	$	1.561		$	0.316		$	(1.588	)	$	3.234		$	4.265		$	(9.020	)

Less Distributions
From net investment income	$	—		$	(0.209	)	$	(0.156	)	$	(0.182	)	$	(0.116	)	$	(0.126	)	$	(0.103	)
From net realized gain		—			—			—			—			—			—			(0.098	)
Tax return of capital		—			(0.012	)		—			—			—			—			—

Total distributions	$	—		$	(0.221	)	$	(0.156	)	$	(0.182	)	$	(0.116	)	$	(0.126	)	$	(0.201	)

Redemption fees⁽²⁾⁽³⁾	$	—		$	—		$	—		$	0.000	⁽⁴⁾	$	0.002		$	0.001		$	0.001

Net asset value — End of period	$	14.270		$	15.310		$	13.970		$	13.810		$	15.580		$	12.460		$	8.320

Total Return⁽⁵⁾		(6.79	)%⁽⁶⁾		11.22	%		2.41	%⁽⁶⁾		(10.39	)%		26.22	%		52.15	%		(51.99	)%

Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	3,134,578		$	2,739,147		$	1,988,618		$	1,845,906		$	1,623,796		$	846,944		$	278,147
Ratios (as a percentage of average daily net assets):
Expenses⁽⁷⁾		1.14	%⁽⁸⁾		1.16	%		1.20	%⁽⁸⁾		1.20	%		1.26	%		1.33	%⁽⁹⁾		1.25	%⁽⁹⁾
Net investment income (loss)		2.73	%⁽⁸⁾		1.56	%		(0.18	)%⁽⁸⁾		1.53	%		1.19	%		1.56	%		1.62	%
Portfolio Turnover		1	%⁽⁶⁾		3	%		0	%^(6)(10)		3	%		8	%		11	%		5	%

⁽¹⁾	For the three months ended January 31, 2012. The Fund changed its fiscal year-end from October 31 to January 31.

⁽²⁾	Computed using average shares outstanding.

⁽³⁾	Redemption fees were discontinued as of January 1, 2011.

⁽⁴⁾	Amount is less than $0.0005.

⁽⁵⁾	Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

⁽⁶⁾	Not annualized.

⁽⁷⁾	Excludes the effect of custody fee credits, if any, of less than 0.005%.

⁽⁸⁾	Annualized.

⁽⁹⁾	The investment adviser and administrator waived a portion of its fees and subsidized certain operating expenses (equal to 0.02% and 0.20% of average daily net assets for the years ended October 31, 2009 and 2008, respectively).

⁽¹⁰⁾	Amount is less than 0.5%.


		31		See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2013

Notes to Financial Statements (Unaudited)

1 Significant Accounting Policies

Parametric Emerging Markets Fund (formerly, Eaton Vance Parametric Structured Emerging Markets Fund) (the Fund) is a diversified series of Eaton Vance Mutual Funds Trust (the Trust). The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The Fund’s investment objective is to seek long-term capital appreciation. The Fund offers three classes of shares. Investor Class (renamed from Class A effective March 1, 2013) and Institutional Class (renamed from Class I effective March 1, 2013) shares are sold at net asset value and are not subject to a sales charge. Class C shares are sold at net asset value and are generally subject to a contingent deferred sales charge (see Note 5). Prior to March 1, 2013, the date the sales charge was eliminated and the share class was renamed, Investor Class shares were generally sold subject to a sales charge of 5.75% imposed at time of purchase. Effective March 1, 2013, Class C shares of the Fund are no longer available for purchase, except by existing shareholders (including shares acquired through the reinvestment of dividends and distributions) or qualified retirement plans. Each class represents a pro-rata interest in the Fund, but votes separately on class-specific matters and (as noted below) is subject to different expenses. Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of shares based on the relative net assets of each class to the total net assets of the Fund. Each class of shares differs in its distribution plan and certain other class-specific expenses.

The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America.

A Investment Valuation — The following methodologies are used to determine the market value or fair value of investments.

Debt Obligations. Debt obligations (including short-term obligations with a remaining maturity of more than sixty days) are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker/dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term obligations purchased with a remaining maturity of sixty days or less are generally valued at amortized cost, which approximates market value.

C Income — Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. However, if the ex-dividend date has passed, certain dividends from foreign securities are recorded as the Fund is informed of the ex-dividend date. Withholding taxes on foreign dividends, interest and capital gains have been provided for in accordance with the Fund’s understanding of the applicable countries’ tax rules and rates. Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount.


		32

Parametric Emerging Markets Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

At January 31, 2013, the Fund, for federal income tax purposes, had a capital loss carryforward of $48,742,945 and deferred capital losses of $12,003,971 which will reduce its taxable income arising from future net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus will reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability for federal income or excise tax. The capital loss carryforward will expire on January 31, 2016 ($2,790,563), January 31, 2017 ($44,871,373) and January 31, 2019 ($1,081,009). A capital loss carryforward of $7,660,713 included in the amounts above is available to the Fund as a result of a reorganization on September 24, 2010. Utilization of this capital loss carryforward may be limited in accordance with certain income tax regulations. The deferred capital losses are treated as arising on the first day of the Fund’s next taxable year and are treated as realized prior to the utilization of the capital loss carryforward.

2 Distributions to Shareholders

It is the present policy of the Fund to make at least one distribution annually (normally in December) of all or substantially all of its net investment income and to distribute annually all or substantially all of its net realized capital gains (reduced by available capital loss carryforwards from prior years). Distributions to shareholders are recorded on the ex-dividend date. Distributions are declared separately for each class of shares. Shareholders may reinvest income and capital gain distributions in additional shares of the same class of the Fund at the net asset value as of the ex-dividend date or, at the election of the shareholder, receive distributions in cash. The Fund distinguishes between distributions on a tax basis and a financial reporting basis. Accounting principles generally accepted in the United States of America require that only distributions in excess of tax basis earnings and profits be reported in the financial statements as a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to paid-in capital. For tax purposes, distributions from short-term capital gains are considered to be from ordinary income.


		33

Parametric Emerging Markets Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

3 Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by Eaton Vance Management (EVM) as compensation for management and investment advisory services rendered to the Fund. The fee is computed at an annual rate of 0.85% of the Fund’s average daily net assets up to $500 million, 0.80% on net assets of $500 million but less than $1 billion, 0.775% on net assets of $1 billion but less than $2.5 billion, 0.75% on net assets of $2.5 billion but less than $5 billion and 0.73% on average daily net assets of $5 billion and over, and is payable monthly. For the six months ended July 31, 2013, the investment adviser fee amounted to $14,708,075 or 0.78% (annualized) of the Fund’s average daily net assets. Pursuant to a sub-advisory agreement, EVM has delegated the investment management of the Fund to Parametric Portfolio Associates LLC (Parametric), a majority-owned subsidiary of Eaton Vance Corp. EVM pays Parametric a portion of its advisory fee for sub-advisory services provided to the Fund. The administration fee is earned by EVM for administering the business affairs of the Fund and is computed at an annual rate of 0.15% of the Fund’s average daily net assets. For the six months ended July 31, 2013, the administration fee amounted to $2,830,040.

EVM serves as the sub-transfer agent of the Fund and receives from the transfer agent an aggregate fee based upon the actual expenses incurred by EVM in the performance of these services. For the six months ended July 31, 2013, EVM earned $49,457 in sub-transfer agent fees. The Fund was informed that Eaton Vance Distributors, Inc. (EVD), an affiliate of EVM and the Fund’s principal underwriter, received $539 as its portion of the sales charge on sales of Investor Class shares for the six months ended July 31, 2013. EVD also received distribution and service fees from Investor Class and Class C shares (see Note 4) and contingent deferred sales charges (see Note 5).

Trustees and officers of the Fund who are members of EVM’s organization receive remuneration for their services to the Fund out of the investment adviser fee. Trustees of the Fund who are not affiliated with EVM may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the six months ended July 31, 2013, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM.

4 Distribution Plans

The Fund also has in effect a distribution plan for Class C shares (Class C Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class C Plan, the Fund pays EVD amounts equal to 0.75% per annum of its average daily net assets attributable to Class C shares for providing ongoing distribution services and facilities to the Fund. For the six months ended July 31, 2013, the Fund paid or accrued to EVD $84,191 for Class C shares.

Pursuant to the Class C Plan, the Fund also makes payments of service fees to EVD, financial intermediaries and other persons in amounts equal to 0.25% per annum of its average daily net assets attributable to that class. Service fees paid or accrued are for personal services and/or the maintenance of shareholder accounts and are separate and distinct from the sales commissions and distribution fees payable to EVD. Service fees paid or accrued for the six months ended July 31, 2013 amounted to $28,064 for Class C shares.

Distribution and service fees are subject to the limitations contained in the Financial Industry Regulatory Authority’s NASD Conduct Rule 2830(d).

5 Contingent Deferred Sales Charges

A contingent deferred sales charge (CDSC) of 1% generally is imposed on redemptions of Class C shares made within one year of purchase. Prior to March 1, 2013, Investor Class shares may have been subject to a 1% CDSC if redeemed within 18 months of purchase (depending on the circumstances of purchase). Generally, the CDSC is based upon the lower of the net asset value at date of redemption or date of purchase. No charge is levied on shares acquired by reinvestment of dividends or capital gain distributions. No CDSC is levied on shares which had been sold to EVM or its affiliates or to their respective employees or clients and may be waived under certain other limited conditions. For the six months ended July 31, 2013, the Fund was informed that EVD received approximately $300 and $1,000 of CDSCs paid by Investor Class and Class C shareholders, respectively.

6 Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $894,744,256 and $50,128,065, respectively, for the six months ended July 31, 2013.


		34

Parametric Emerging Markets Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

7 Shares of Beneficial Interest


Investor Class	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013

Sales		21,073,149			22,197,036
Issued to shareholders electing to receive payments of distributions in Fund shares		—			590,993
Redemptions		(6,427,488	)		(9,787,693	)

Net increase		14,645,661			13,000,336


Class C	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013

Sales		164,894			343,481
Issued to shareholders electing to receive payments of distributions in Fund shares		—			6,110
Redemptions		(156,731	)		(445,335	)

Net increase (decrease)		8,163			(95,744	)


Institutional Class	Six Months Ended July 31, 2013 (Unaudited)			Year Ended January 31, 2013

Sales		51,931,930			61,302,981
Issued to shareholders electing to receive payments of distributions in Fund shares		—			2,058,577
Redemptions		(11,216,182	)		(26,741,612	)

Net increase		40,715,748			36,619,946

8 Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2013, as determined on a federal income tax basis, were as follows:



Aggregate cost	$	3,913,595,358

Gross unrealized appreciation	$	641,489,124
Gross unrealized depreciation		(520,926,261	)

Net unrealized appreciation	$	120,562,863

9 Line of Credit


		35

Parametric Emerging Markets Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

the line of credit is not available exclusively to the Fund, it may be unable to borrow some or all of its requested amounts at any particular time. The Fund did not have any significant borrowings or allocated fees during the six months ended July 31, 2013.

10 Risks Associated with Foreign Investments

11 Fair Value Measurements

Level 1 – quoted prices in active markets for identical investments

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

At July 31, 2013, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:


Asset Description	Level 1		Level 2			Level 3*		Total

Common Stocks
Asia/Pacific	$	56,188,277	$	1,575,420,789		$	62,580	$	1,631,671,646
Emerging Europe		26,785,396		698,324,841			—		725,110,237
Latin America		792,396,197		—			—		792,396,197
Middle East/Africa		869,475		805,736,450			145,076		806,751,001
Total Common Stocks	$	876,239,345	$	3,079,482,080	**	$	207,656	$	3,955,929,081

Corporate Bonds	$	—	$	20,264		$	—	$	20,264
Equity-Linked Securities		—		35,854,857			—		35,854,857
Investment Funds		—		2,764,591			—		2,764,591
Rights		—		77,258			—		77,258
Warrants		42,862		—			—		42,862
Short-Term Investments		—		39,469,308			—		39,469,308
Total Investments	$	876,282,207	$	3,157,668,358		$	207,656	$	4,034,158,221

*	None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.

**	Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended July 31, 2013 is not presented.


		36

Parametric Emerging Markets Fund

July 31, 2013

Notes to Financial Statements (Unaudited) — continued

At July 31, 2013, investments having a value of $6,587,021 and $364,695,802 at January 31, 2013 were transferred from Level 1 to Level 2 and Level 2 to Level 1, respectively, during the six months then ended. The change in the level designations within the fair value hierarchy was due to an increase or decrease in the coverage of foreign equity securities provided by the Fund’s fair valuation pricing service as discussed in Note 1A.

12 Name Change

Effective March 1, 2013, the name of the Parametric Emerging Markets Fund was changed from Eaton Vance Parametric Structured Emerging Markets Fund.


		37

Parametric Emerging Markets Fund

July 31, 2013

Board of Trustees’ Contract Approval

Overview of the Contract Review Process

Information about Fees, Performance and Expenses

An independent report comparing the advisory and related fees paid by each fund with fees paid by comparable funds;

An independent report comparing each fund’s total expense ratio and its components to comparable funds;

Data regarding investment performance in comparison to benchmark indices and customized peer groups, in each case as approved by the Board with respect to the funds;

Profitability analyses for each adviser with respect to each fund;

Information about Portfolio Management and Trading

Descriptions of the investment management services provided to each fund, including the investment strategies and processes employed, and any changes in portfolio management processes and personnel;

Data relating to portfolio turnover rates of each fund;

The procedures and processes used to determine the fair value of fund assets and actions taken to monitor and test the effectiveness of such procedures and processes;

Information about each adviser’s processes for monitoring best execution of portfolio transactions, and other policies and practices of each adviser with respect to trading;

Information about each Adviser

Reports detailing the financial results and condition of each adviser;

Copies of the Codes of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

Copies of or descriptions of each adviser’s policies and procedures relating to proxy voting, the handling of corporate actions and class actions;

Descriptions of the business continuity and disaster recovery plans of each adviser and its affiliates;


		38

Parametric Emerging Markets Fund

July 31, 2013

Board of Trustees’ Contract Approval — continued

Other Relevant Information

Information concerning the nature, cost and character of the administrative and other non-investment management services provided by Eaton Vance Management and its affiliates;

Information concerning management of the relationship with the custodian, subcustodians and fund accountants by each adviser or the funds’ administrator; and

The terms of each advisory agreement.

In addition to the information identified above, the Contract Review Committee considered information provided from time to time by each adviser throughout the year at meetings of the Board and its committees. Over the course of the twelve-month period ended April 30, 2013, with respect to one or more funds, the Board met eight times and the Contract Review Committee, the Audit Committee, the Governance Committee, the Portfolio Management Committee and the Compliance Reports and Regulatory Matters Committee, each of which is a Committee comprised solely of Independent Trustees, met eight, twenty-one, five, nine and thirteen times respectively. At such meetings, the Trustees participated in investment and performance reviews with the portfolio managers and other investment professionals of each adviser relating to each fund. The Board and its Committees considered the investment and trading strategies used in pursuing each fund’s investment objective, including, where relevant, the use of derivative instruments, as well as processes for monitoring best execution of portfolio transactions risk management techniques. The Board and its Committees also evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management and other fund advisers with respect to such matters.

Results of the Process

Based on its consideration of the foregoing, and such other information as it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement of Parametric Emerging Markets Fund (formerly Eaton Vance Parametric Structured Emerging Markets Fund) (the “Fund”) with Eaton Vance Management (the “Adviser”) and the sub-advisory agreement with Parametric Portfolio Associates LLC (the “Sub-adviser”), an affiliate of Eaton Vance Management, including their fee structures, is in the interests of shareholders and, therefore, the Contract Review Committee recommended to the Board approval of each agreement. The Board accepted the recommendation of the Contract Review Committee as well as the factors considered and conclusions reached by the Contract Review Committee with respect to the agreements. Accordingly, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory agreement and the sub-advisory agreement for the Fund.

Nature, Extent and Quality of Services

In considering whether to approve the investment advisory agreement and the sub-advisory agreement of the Fund, the Board evaluated the nature, extent and quality of services provided to the Fund by the Adviser and the Sub-adviser.

The Board considered the Adviser’s and the Sub-adviser’s management capabilities and investment process with respect to the types of investments held by the Fund, including the education, experience and number of its investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Fund. With respect to the Adviser, the Board considered the Adviser’s responsibilities supervising the Sub-adviser. With respect to the Sub-adviser, the Board considered the abilities and experience of investment personnel in analyzing factors such as special considerations relevant to investing in emerging markets. The Board noted the Adviser’s in-house equity research capabilities. With respect to the Sub-adviser, the Board noted the Sub-adviser’s experience in deploying quantitative-based investment strategies. The Board also took into account the resources dedicated to portfolio management and other services, including the compensation methods of the Adviser to recruit and retain investment personnel, and the time and attention devoted to the Fund by senior management.


		39

Parametric Emerging Markets Fund

July 31, 2013

Board of Trustees’ Contract Approval — continued

Fund Performance

The Board compared the Fund’s investment performance to a relevant universe of similarly managed funds identified by an independent data provider and appropriate benchmark indices. The Board reviewed comparative performance data for the one-, three-, and five-year periods ended September 30, 2012 for the Fund. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board reviewed contractual investment advisory fee rates, including administrative fee rates, payable by the Fund (referred to as “management fees”). As part of its review, the Board considered the management fees and the Fund’s total expense ratio for the year ended September 30, 2012, as compared to a group of similarly managed funds selected by an independent data provider. The Board also considered factors that had an impact on Fund expense ratios, as identified by management in response to inquiries from the Contract Review Committee, as well as actions taken by management in recent years to reduce expenses at the Eaton Vance fund complex level, including the negotiation of reduced fees for transfer agency and custody services.

Profitability

Economies of Scale


		40

Parametric Emerging Markets Fund

July 31, 2013

Officers and Trustees

Officers of Parametric Emerging Markets Fund

Duncan W. Richardson

President

Payson F. Swaffield

Vice President

Maureen A. Gemma

Vice President, Secretary and

Chief Legal Officer

James F. Kirchner

Treasurer

Paul M. O’Neil

Chief Compliance Officer

Trustees of Parametric Emerging Markets Fund

Ralph F. Verni

Chairman

Scott E. Eston

Benjamin C. Esty

Thomas E. Faust Jr.*

Allen R. Freedman

William H. Park

Ronald A. Pearlman

Helen Frame Peters

Lynn A. Stout

Harriett Tee Taggart

*	Interested Trustee


		41

Eaton Vance Funds

IMPORTANT NOTICES

Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.


		42

This Page Intentionally Left Blank

Investment Adviser and Administrator

Eaton Vance Management

Two International Place

Boston, MA 02110

Sub-Adviser

Parametric Portfolio Associates LLC

1918 Eighth Avenue, Suite 3100

Seattle, WA 98101

Principal Underwriter*

Eaton Vance Distributors, Inc.

Two International Place

Boston, MA 02110

(617) 482-8260

Custodian

State Street Bank and Trust Company

200 Clarendon Street

Boston, MA 02116

Transfer Agent

BNY Mellon Asset Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 262-1122

Fund Offices

Two International Place

Boston, MA 02110

LOGO


2774-9/13		SEMSRC

Item 2. Code of Ethics

Not required in this filing.

Item 3. Audit Committee Financial Expert

The registrant’s Board has designated William H. Park, an independent trustee, as its audit committee financial expert. Mr. Park is a certified public accountant who is a consultant and private investor. Previously, he served as the Chief Financial Officer of Aveon Group, L.P. (an investment management firm), as the Vice Chairman of Commercial Industrial Finance Corp. (specialty finance company), as President and Chief Executive Officer of Prizm Capital Management, LLC (investment management firm), as Executive Vice President and Chief Financial Officer of United Asset Management Corporation (an institutional investment management firm) and as a Senior Manager at Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm).

Item 4. Principal Accountant Fees and Services

Not required in this filing.

Item 5. Audit Committee of Listed Registrants

Not required in this filing.

Item 6. Schedule of Investments

Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not required in this filing.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not required in this filing.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not required in this filing.

Item 10. Submission of Matters to a Vote of Security Holders

No Material Changes.

Item 11. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits


(a)(1)		Registrant’s Code of Ethics – Not applicable (please see Item 2).

(a)(2)(i)		Treasurer’s Section 302 certification.

(a)(2)(ii)		President’s Section 302 certification.

(b)		Combined Section 906 certification.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Eaton Vance Mutual Funds Trust


By:		/s/ Duncan W. Richardson
		Duncan W. Richardson
		President

Date:		September 12, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ James F. Kirchner
		James F. Kirchner
		Treasurer

Date:		September 12, 2013

By:		/s/ Duncan W. Richardson
		Duncan W. Richardson
		President

Date:		September 12, 2013

Eaton Vance Floating Rate Fund (EIBLX) N-CSRSCertified semi-annual shareholder report (management investment company)