Eaton Vance Floating Rate Fund (EIBLX) N-CSRS 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, 2015

Date of Reporting Period

Item 1. Reports to Stockholders

Parametric Emerging Markets Fund

Semiannual Report

July 31, 2015

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. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor.

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 1-800-260-0761.

Semiannual Report July 31, 2015

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	41
Officers and Trustees	44
Important Notices	45

Parametric Emerging Markets Fund

July 31, 2015

Performance^1,2

Portfolio Managers Thomas Seto and Timothy W. Atwill, Ph.D., CFA, 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		–4.01	%		–15.38	%		0.58	%		4.25	%
Class C at NAV		06/30/2006		06/30/2006		–4.33			–15.96			–0.16			3.47
Class C with 1% Maximum Sales Charge		—		—		–5.28			–16.78			–0.16			3.47
Institutional Class at NAV		06/30/2006		06/30/2006		–3.91			–15.16			0.84			4.50
Class R6 at NAV		07/01/2014		06/30/2006		–3.90			–15.19			0.84			4.51
MSCI Emerging Markets Index		—		—		–4.76	%		–13.38	%		0.58	%		4.55	%
% Total Annual Operating Expense  Ratios3					Investor Class			Class C			Institutional Class			Class R6
						1.36	%		2.11	%		1.11	%		1.07	%

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 eatonvance.com.

2

Parametric Emerging Markets Fund

July 31, 2015

Fund Profile

Sector Allocation (% of net assets)⁴

Top 10 Holdings (% of net assets)⁴

China Mobile, Ltd.	0.9	%
MTN Group, Ltd.	0.8
Naspers, Ltd., Class N	0.8
Tencent Holdings, Ltd.	0.7
America Movil SAB de CV, Series L	0.7
Cielo SA	0.7
CEZ AS	0.6
Samsung Electronics Co., Ltd.	0.6
OTP Bank Rt.	0.5
Taiwan Semiconductor Manufacturing Co., Ltd.	0.5
Total	6.8	%

Geographic Allocation (% of common stocks)

See Endnotes and Additional Disclosures in this report.

3

Parametric Emerging Markets Fund

July 31, 2015

Endnotes and Additional Disclosures

¹  MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. MSCI indexes 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  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. Performance prior to the inception date of a class may be linked to the performance of an older class of the Fund. This linked performance is adjusted for any applicable sales charge, but is not adjusted for class expense differences. If adjusted for such differences, the performance would be different. Performance presented in the financial highlights included in the financial statements is not linked. In the performance table, the performance of Class R6 is linked to Institutional Class. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

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, 2015

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, 2015 – July 31, 2015).

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 (2/1/15)		Ending Account Value (7/31/15)		Expenses Paid During Period* (2/1/15 – 7/31/15)		Annualized Expense Ratio
Actual
Investor Class	$	1,000.00	$	959.90	$	6.56		1.35	%
Class C	$	1,000.00	$	956.70	$	10.19		2.10	%
Institutional Class	$	1,000.00	$	960.90	$	5.35		1.10	%
Class R6	$	1,000.00	$	961.00	$	5.15		1.06	%
Hypothetical
(5% return per year before expenses)
Investor Class	$	1,000.00	$	1,018.10	$	6.76		1.35	%
Class C	$	1,000.00	$	1,014.40	$	10.49		2.10	%
Institutional Class	$	1,000.00	$	1,019.30	$	5.51		1.10	%
Class R6	$	1,000.00	$	1,019.50	$	5.31		1.06	%

* 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, 2015.

5

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited)

Common Stocks — 99.2%
Security	Shares		Value
Argentina ��� 0.7%
Adecoagro SA(1)		77,700	$	672,105
Arcos Dorados Holdings, Inc., Class A		490,400		2,084,200
Banco Macro SA, Class B ADR		31,787		1,357,623
BBVA Banco Frances SA ADR		52,288		781,183
Cresud SA ADR(1)		65,240		735,907
Grupo Financiero Galicia SA, Class B ADR		91,400		1,717,406
IRSA Inversiones y Representaciones SA ADR		38,810		656,277
MercadoLibre, Inc.		46,300		6,050,947
Pampa Energia SA ADR(1)		146,200		2,229,550
Petrobras Argentina SA ADR		620,508		4,120,173
Telecom Argentina SA ADR		315,602		5,052,788
YPF SA ADR		95,400		2,187,522
			$	27,645,681
Bahrain — 0.8%
Ahli United Bank BSC		19,538,234	$	13,939,038
Al Salam Bank-Bahrain BSC		20,637,596		7,685,350
Gulf Finance House EC(1)		28,949,475		5,734,719
Ithmaar Bank BSC(1)		23,377,675		3,282,527
			$	30,641,634
Bangladesh — 0.9%
Aftab Automobiles, Ltd.		783,888	$	627,123
Al-Arafah Islami Bank, Ltd.		1,602,750		261,287
Bangladesh Export Import Co., Ltd.(1)		8,249,358		3,595,843
Beximco Pharmaceuticals, Ltd.		1,148,334		1,038,343
BSRM Steels, Ltd.		1,709,000		1,864,084
City Bank, Ltd. (The)		5,269,419		1,240,088
Grameenphone, Ltd.		1,075,888		4,577,840
Heidelberger Cement Bangladesh, Ltd.		146,500		1,199,220
Islami Bank Bangladesh, Ltd.		3,020,610		854,961
Jamuna Oil Co., Ltd.		177,760		463,355
Khulna Power Co., Ltd.		1,334,705		1,332,332
Lankabangla Finance, Ltd.		1,036,130		398,258
Malek Spinning Mills, Ltd.		897,500		221,871
Meghna Petroleum, Ltd.		293,150		760,981
National Bank, Ltd.(1)		7,628,423		1,087,722
Olympic Industries, Ltd.		441,450		1,573,032
Orion Pharma, Ltd.		672,227		341,951
Padma Oil Co., Ltd.		195,600		635,431
People’s Leasing and Financial Services, Ltd.(1)		2,472,998		532,622
Pubali Bank, Ltd.		1,878,791		466,084
Renata, Ltd.		53,400		858,308
Social Islami Bank, Ltd.		2,944,930		507,719

Security	Shares		Value
Bangladesh (continued)
Southeast Bank, Ltd.		2,584,951	$	578,735
Square Pharmaceuticals, Ltd.		918,667		3,209,904
Summit Power, Ltd.		1,561,659		794,164
Titas Gas Transmission & Distribution Co., Ltd.		3,022,500		2,818,306
United Airways Bangladesh, Ltd.(1)		8,053,064		1,117,392
United Commercial Bank, Ltd.		5,004,083		1,314,212
			$	34,271,168
Botswana — 0.3%
Barclays Bank of Botswana, Ltd.		1,137,465	$	493,099
Botswana Insurance Holdings, Ltd.		575,111		807,090
First National Bank of Botswana, Ltd.		6,069,100		2,347,959
Letshego Holdings, Ltd.		12,485,691		4,338,313
Sechaba Breweries, Ltd.		905,550		2,559,700
Standard Chartered Bank Botswana, Ltd.		531,120		665,680
			$	11,211,841
Brazil — 5.8%
AES Tiete SA, PFC Shares		226,300	$	1,209,507
AMBEV SA		2,242,950		12,747,793
AMBEV SA ADR		141,760		805,197
B2W Cia Digital(1)		200,970		1,056,517
Banco Bradesco SA ADR, PFC Shares		131,149		1,041,323
Banco Bradesco SA, PFC Shares		643,277		5,125,249
Banco do Brasil SA		277,098		1,784,492
Banco do Estado do Rio Grande do Sul, PFC Shares		164,900		476,310
BB Seguridade Participacoes SA		96,200		906,103
BM&FBovespa SA		962,351		2,934,314
BR Malls Participacoes SA		296,000		1,110,881
BR Properties SA		212,800		705,407
Bradespar SA, PFC Shares		121,000		347,739
Braskem SA, PFC Shares		89,760		328,740
BRF SA		338,540		7,106,082
BRF SA ADR		19,900		416,109
CCR SA		1,333,500		5,927,619
Centrais Eletricas Brasileiras SA, PFC Shares		599,700		1,495,769
CETIP SA - Mercados Organizados		173,900		1,800,988
Cia Brasileira de Distribuicao, PFC Shares		63,069		1,381,496
Cia de Saneamento Basico do Estado de Sao Paulo		573,760		2,927,492
Cia de Saneamento de Minas Gerais-COPASA		72,900		254,217
Cia de Transmissao de Energia Eletrica Paulista, PFC Shares		64,890		785,362
Cia Energetica de Minas Gerais SA ADR		84,265		231,729
Cia Energetica de Minas Gerais SA, PFC Shares		1,125,255		3,102,384
Cia Energetica de Sao Paulo, Class B, PFC Shares		297,400		1,661,608
Cia Hering		299,100		1,033,413

6 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares			Value
Brazil (continued)
Cia Paranaense de Energia-Copel, PFC Shares		168,400		$	1,735,175
Cia Siderurgica Nacional SA		589,500			745,494
Cielo SA		2,071,677			26,459,041
Contax Participacoes SA, PFC Shares		121,500			26,969
Cosan Logistica SA		169,700			89,213
Cosan SA Industria e Comercio		109,700			666,412
CPFL Energia SA		530,110			2,985,009
Cyrela Brazil Realty SA Empreendimentos e Participacoes		488,300			1,326,301
Duratex SA		235,758			479,235
EcoRodovias Infraestrutura e Logistica SA		357,100			723,806
EDP-Energias do Brasil SA		313,400			1,194,489
Eletropaulo Metropolitana SA, Class B, PFC Shares		210,580			929,296
Embraer SA		482,700			3,369,363
Embraer SA ADR		133,548	��		3,719,312
Equatorial Energia SA		165,300			1,689,715
Estacio Participacoes SA		462,100			1,916,447
Even Construtora e Incorporadora SA		341,400			291,151
Ez Tec Empreendimentos e Participacoes SA		91,843			371,508
Fibria Celulose SA		175,057			2,328,333
Gafisa SA(1)		745,400			555,139
Gerdau SA, PFC Shares		771,800			1,329,932
Gol Linhas Aereas Inteligentes SA, PFC Shares		204,000			338,416
Hypermarcas SA(1)		267,800			1,584,611
Iochpe-Maxion SA		115,700			412,255
Itau Unibanco Holding SA ADR, PFC Shares		158,904			1,379,287
Itau Unibanco Holding SA, PFC Shares		588,773			5,172,474
Itausa-Investimentos Itau SA, PFC Shares		1,110,189			2,723,634
JBS SA		583,825			2,627,592
Klabin SA, PFC Shares		1,300,000			1,571,869
Kroton Educacional SA		1,885,736			5,287,187
Light SA		132,200			544,020
Localiza Rent a Car SA		224,780			1,844,746
Lojas Americanas SA, PFC Shares		777,028			3,912,429
Lojas Renner SA		159,300			5,066,130
Marcopolo SA, PFC Shares		1,222,300			821,066
Marfrig Global Foods SA(1)		287,155			445,332
Metalurgica Gerdau SA, PFC Shares		260,300			266,082
MRV Engenharia e Participacoes SA		719,800			1,618,733
Multiplus SA		60,200			725,259
Natura Cosmeticos SA		120,900			898,995
Odontoprev SA		508,100			1,650,162
Oi SA, PFC Shares		1,535,585			2,170,660
PDG Realty SA Empreendimentos e Participacoes(1)		4,327,100			303,306
Petroleo Brasileiro SA ADR(1)		71,900			442,185
Petroleo Brasileiro SA, PFC Shares		5,122,200			15,707,910

Security	Shares		Value
Brazil (continued)
Prumo Logistica SA(1)		1,596,000	$	326,290
Qualicorp SA		526,100		3,126,837
Randon Participacoes SA, PFC Shares		303,500		283,649
Rossi Residencial SA(1)		237,000		69,218
Rumo Logistica Operadora Multimodal SA(1)		3,144,198		835,649
Smiles SA		23,100		373,154
Souza Cruz SA		228,000		1,617,465
Suzano Papel e Celulose SA, PFC Shares		437,425		2,144,998
Telefonica Brasil SA, PFC Shares		874,726		11,529,486
Tim Participacoes SA		2,475,427		6,788,726
Totvs SA		338,990		3,471,134
Tractebel Energia SA		251,900		2,666,912
Transmissora Alianca de Energia Electrica SA		151,100		924,530
Ultrapar Participacoes SA		411,984		8,455,181
Usinas Siderurgicas de Minas Gerais SA, Class A, PFC Shares		872,350		1,001,281
Vale SA		34,400		179,538
Vale SA ADR		65,300		343,478
Vale SA, PFC Shares		2,875,340		12,302,671
Valid Solucoes SA		68,300		991,402
Via Varejo SA		41,000		103,579
Weg SA		742,140		4,074,894
			$	230,759,592
Bulgaria — 0.0%(2)
CB First Investment Bank AD(1)		235,000	$	316,176
Chimimport AD(1)		329,922		292,165
Corporate Commercial Bank AD(1)		10,400		5,463
MonBat AD		60,235		272,676
Petrol AD(1)		102,500		48,183
Sopharma AD		354,600		538,236
			$	1,472,899
Chile — 3.0%
AES Gener SA		3,720,840	$	1,997,785
Aguas Andinas SA, Series A		4,337,700		2,291,222
Almendral SA		2,512,600		185,967
Antarchile SA, Series A		215,131		2,249,590
Banco de Chile		49,742,407		5,330,598
Banco de Chile ADR		7,622		474,910
Banco de Credito e Inversiones		89,836		3,941,618
Banco Santander Chile SA		112,643,622		5,680,634
Banmedica SA		706,730		1,331,277
Besalco SA(1)		1,307,600		500,387
Bupa Chile SA, PFC Shares		490,000		387,487
Cap SA		196,612		527,866

7 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Chile (continued)
Cencosud SA		2,839,007	$	5,981,622
Cia Cervecerias Unidas SA		341,626		3,598,170
Cia Sud Americana de Vapores SA(1)		14,510,741		424,001
Colbun SA		11,398,010		3,012,645
Corpbanca SA		288,938,251		2,914,239
E.CL SA		693,400		941,160
Embotelladora Andina SA, Class B, PFC Shares		535,258		1,511,933
Empresa Nacional de Electricidad SA		4,554,263		6,214,657
Empresa Nacional de Telecomunicaciones SA		489,619		5,041,362
Empresas AquaChile SA(1)		336,541		144,759
Empresas CMPC SA		2,641,020		6,917,106
Empresas Copec SA		1,305,068		13,056,294
Empresas La Polar SA(1)		1,713,400		47,778
Enersis SA		20,091,568		6,049,225
Enersis SA ADR		42,700		645,197
Forus SA		132,100		385,798
Grupo Security SA		3,397,289		967,487
Inversiones Aguas Metropolitanas SA		614,900		893,803
Inversiones La Construccion SA		54,000		588,698
Latam Airlines Group SA(1)		581,137		3,663,352
Latam Airlines Group SA BDR(1)		28,260		132,636
Molibdenos y Metales SA(1)		65,700		401,976
Parque Arauco SA		1,406,599		2,592,882
Quinenco SA		389,755		768,873
Ripley Corp. SA		1,779,400		611,995
S.A.C.I. Falabella		1,962,555		12,764,176
Salfacorp SA		1,726,600		1,055,116
Sigdo Koppers SA		1,121,831		1,472,757
Sociedad de Inversiones Pampa Calichera SA, Class A		45,817		15,460
Sociedad Matriz SAAM SA		6,242,812		462,887
Sociedad Quimica y Minera de Chile SA, Series B		212,340		2,894,085
Sociedad Quimica y Minera de Chile SA, Series B ADR		58,400		788,984
Socovesa SA		1,443,206		254,734
Sonda SA		3,108,976		5,708,858
Vina Concha y Toro SA		1,360,915		2,129,584
			$	119,953,630
China — 8.7%
Agile Property Holdings, Ltd.		1,096,000	$	629,998
Agricultural Bank of China, Ltd., Class H		2,350,000		1,060,095
Air China, Ltd., Class H(1)		2,310,000		2,311,197
Aluminum Corp. of China, Ltd., Class H(1)		3,374,000		1,169,828
Angang Steel Co., Ltd., Class H		1,226,000		622,551
Anhui Conch Cement Co., Ltd., Class H		906,500		2,821,462
ANTA Sports Products, Ltd.		1,021,000		2,625,033

Security	Shares		Value
China (continued)
Baidu, Inc. ADR(1)		44,900	$	7,752,434
Bank of China, Ltd., Class H		10,330,000		5,631,383
Bank of Communications, Ltd., Class H		3,583,900		3,150,096
Beijing Capital International Airport Co., Ltd., Class H		1,568,000		1,614,222
Beijing Enterprises Holdings, Ltd.		309,500		2,277,432
Beijing Enterprises Water Group, Ltd.(1)		1,206,000		900,214
Belle International Holdings, Ltd.		2,320,000		2,418,016
Brilliance China Automotive Holdings, Ltd.		1,086,000		1,441,355
BYD Co., Ltd., Class H		607,200		2,669,788
China Agri-Industries Holdings, Ltd.(1)		2,074,000		903,133
China Bluechemical, Ltd., Class H		1,270,000		414,104
China Cinda Asset Management, Co., Ltd., Class H		1,495,000		668,707
China CITIC Bank Corp., Ltd., Class H(1)		840,000		599,839
China Coal Energy Co., Ltd., Class H		3,400,000		1,654,435
China Communications Construction Co., Ltd., Class H		2,245,000		2,881,602
China Communications Services Corp., Ltd., Class H		2,540,000		1,153,292
China Construction Bank Corp., Class H		7,369,630		6,002,395
China COSCO Holdings Co., Ltd., Class H(1)		2,694,975		1,386,231
China Dongxiang (Group) Co., Ltd.		4,257,000		1,086,032
China Everbright International, Ltd.		1,986,000		3,035,831
China Everbright, Ltd.		536,000		1,301,768
China Gas Holdings, Ltd.		606,000		1,065,614
China High Speed Transmission Equipment Group Co., Ltd.(1)		2,184,000		1,778,815
China International Marine Containers Co., Ltd., Class B		482,672		1,027,647
China Life Insurance Co., Ltd., Class H		1,183,000		4,349,657
China Longyuan Power Group Corp., Ltd., Class H		2,914,000		3,338,520
China Mengniu Dairy Co., Ltd.		960,000		4,352,668
China Merchants Bank Co., Ltd., Class H		497,524		1,285,194
China Merchants Holdings (International) Co., Ltd.		812,035		2,978,780
China Minsheng Banking Corp., Ltd., Class H		662,740		743,355
China Mobile, Ltd.		2,810,500		36,719,216
China National Building Material Co., Ltd., Class H		2,522,000		1,908,302
China Oilfield Services, Ltd., Class H		1,420,000		1,742,056
China Overseas Land & Investment, Ltd.		390,160		1,226,162
China Pacific Insurance (Group) Co., Ltd., Class H		196,400		823,308
China Petroleum & Chemical Corp., Class H		15,620,300		11,752,975
China Pharmaceutical Group, Ltd.		1,402,000		1,286,995
China Railway Construction Corp., Ltd., Class H		1,592,000		2,072,481
China Railway Group, Ltd., Class H		2,179,000		1,858,506
China Resources Enterprise, Ltd.		842,000		2,731,402
China Resources Gas Group, Ltd.		830,000		2,535,728
China Resources Land, Ltd.		250,000		702,059
China Resources Power Holdings Co., Ltd.		1,591,600		4,088,115
China Shenhua Energy Co., Ltd., Class H		2,164,500		4,111,430

8 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
China (continued)
China Shineway Pharmaceutical Group, Ltd.		381,000	$	485,994
China Shipping Container Lines Co., Ltd., Class H(1)		4,252,000		1,337,558
China Shipping Development Co., Ltd., Class H		1,702,000		1,033,165
China Southern Airlines Co., Ltd., Class H		2,700,000		2,671,876
China Taiping Insurance Holdings Co., Ltd.(1)		573,400		1,702,811
China Telecom Corp., Ltd., Class H		11,972,000		6,695,179
China Travel International Investment Hong Kong, Ltd.		4,692,000		1,804,860
China Unicom (Hong Kong), Ltd.		4,340,372		6,069,409
China Vanke Co., Ltd., Class H		789,920		1,878,539
China Yurun Food Group, Ltd.(1)		1,776,000		525,453
Chongqing Changan Automobile Co., Ltd., Class B		1,100,286		2,336,248
CITIC, Ltd.		1,152,000		2,063,123
CNOOC, Ltd.		8,296,000		10,159,148
Cosco Pacific, Ltd.		1,516,000		1,986,357
Country Garden Holdings Co., Ltd.		3,785,631		1,478,656
Ctrip.com International, Ltd. ADR(1)		140,100		10,028,358
Datang International Power Generation Co., Ltd., Class H		3,414,000		1,474,947
Dongfeng Motor Group Co., Ltd., Class H		1,966,000		2,258,964
Golden Eagle Retail Group, Ltd.		739,000		912,544
Great Wall Motor Co., Ltd., Class H(1)		862,500		2,855,324
Guangdong Investment, Ltd.		2,022,000		2,731,533
Guangzhou Automobile Group Co., Ltd., Class H		1,892,013		1,516,656
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd., Class H		320,000		879,311
Guangzhou R&F Properties Co., Ltd., Class H(1)		682,000		683,718
Haier Electronics Group Co., Ltd.		161,000		379,566
Hengan International Group Co., Ltd.		355,000		3,956,817
Hengdeli Holdings, Ltd.		2,681,800		390,466
Huaneng Power International, Inc., Class H		2,746,000		3,331,115
Industrial & Commercial Bank of China, Ltd., Class H		7,374,000		5,065,848
Inner Mongolia Eerduosi Resources Co., Ltd., Class B		72,000		63,565
Inner Mongolia Yitai Coal Co., Ltd., Class B		669,000		693,713
Jiangsu Expressway Co., Ltd., Class H		1,152,000		1,443,170
Jiangxi Copper Co., Ltd., Class H		1,298,000		1,750,367
Kingboard Chemical Holdings, Ltd.		648,600		1,088,970
Kunlun Energy Co., Ltd.		2,206,000		2,102,352
Lee & Man Paper Manufacturing, Ltd.		1,220,000		746,753
Lenovo Group, Ltd.		3,736,000		4,044,404
Li Ning Co., Ltd.(1)		774,208		383,141
Maanshan Iron & Steel Co., Ltd., Class H(1)		2,294,000		537,618
Mindray Medical International, Ltd. ADR		77,700		2,120,433
NetEase.com, Inc. ADR		14,000		1,940,820
New Oriental Education & Technology Group, Inc. ADR(1)		380,400		8,520,960
Nine Dragons Paper Holdings, Ltd.		2,051,000		1,518,318
PetroChina Co., Ltd., Class H		10,400,000		10,218,768

Security	Shares		Value
China (continued)
PICC Property & Casualty Co., Ltd., Class H		750,000	$	1,550,856
Ping An Insurance (Group) Co. of China, Ltd., Class H		435,000		2,500,426
Poly Property Group Co., Ltd.		1,918,000		726,781
Semiconductor Manufacturing International Corp.(1)		23,397,000		2,102,374
Shandong Weigao Group Medical Polymer Co., Ltd., Class H		1,396,000		937,257
Shanghai Electric Group Co., Ltd., Class H		2,414,000		1,493,410
Shanghai Industrial Holdings, Ltd.		304,000		895,852
Shimao Property Holdings, Ltd.		665,000		1,192,504
Sihuan Pharmaceutical Holdings Group, Ltd.(1)(3)		3,161,000		899,089
SINA Corp.(1)		22,900		929,969
Sino Biopharmaceutical, Ltd.		2,760,000		3,199,366
Sino-Ocean Land Holdings, Ltd.		1,720,500		1,185,919
Sinopec Shanghai Petrochemical Co., Ltd., Class H(1)		2,931,000		1,195,061
Sinopharm Group Co., Ltd., Class H		1,075,600		4,136,501
Sohu.com, Inc.(1)		10,300		495,739
Sun Art Retail Group, Ltd.		1,476,000		1,123,575
Tencent Holdings, Ltd.		1,493,800		27,772,744
Tingyi (Cayman Islands) Holding Corp.		1,266,000		2,436,190
Tsingtao Brewery Co., Ltd., Class H		254,000		1,355,331
Want Want China Holdings, Ltd.		3,750,000		3,894,780
Weichai Power Co., Ltd., Class H		912,800		1,371,659
Wumart Stores, Inc., Class H(1)		321,000		198,396
WuXi PharmaTech (Cayman), Inc. ADR(1)		61,900		2,568,850
Yangzijiang Shipbuilding Holdings, Ltd.		1,809,000		1,697,977
Yanzhou Coal Mining Co., Ltd., Class H		2,200,000		1,254,543
Zhaojin Mining Industry Co., Ltd., Class H		1,140,000		530,820
Zhejiang Expressway Co., Ltd., Class H		1,404,000		1,630,258
Zhuzhou CSR Times Electric Co., Ltd., Class H		513,000		3,477,876
Zijin Mining Group Co., Ltd., Class H		6,290,000		1,672,592
ZTE Corp., Class H		876,903		1,947,495
			$	346,902,543
Colombia — 1.4%
Almacenes Exito SA		465,190	$	3,440,468
Avianca Holdings SA, PFC Shares		551,298		597,240
Banco Davivienda SA, PFC Shares		186,400		1,713,844
Banco de Bogota SA		98,407		2,050,829
Bancolombia SA		114,355		1,033,166
Bancolombia SA ADR, PFC Shares		149,600		5,774,560
Bolsa de Valores de Colombia		72,389,909		404,680
Celsia SA ESP		809,070		1,177,084
Cementos Argos SA		697,019		2,388,742
Cementos Argos SA, PFC Shares		307,566		1,003,861
Cemex Latam Holdings SA(1)		372,500		1,634,861
Corporacion Financiera Colombiana SA		112,407		1,475,342

9 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Colombia (continued)
Ecopetrol SA		12,707,769	$	7,103,996
Empresa de Energia de Bogota SA		5,363,581		3,110,132
Empresa de Telecommunicaciones de Bogota SA		2,532,380		494,166
Grupo Argos SA		453,128		2,737,648
Grupo Argos SA, PFC Shares		108,995		625,964
Grupo Aval Acciones y Valores SA		3,145,485		1,337,923
Grupo Aval Acciones y Valores SA, PFC Shares		6,098,800		2,625,872
Grupo de Inversiones Suramericana SA		325,070		4,176,247
Grupo de Inversiones Suramericana SA, PFC Shares		48,367		614,664
Grupo Nutresa SA		582,655		4,475,114
Grupo Odinsa SA(1)		74,829		188,242
Interconexion Electrica SA		901,290		2,215,671
ISAGEN SA ESP		2,296,200		2,336,065
			$	54,736,381
Croatia — 0.8%
AD Plastik DD		35,190	$	547,622
Adris Grupa DD, PFC Shares		75,044		4,378,024
Atlantic Grupa DD		13,898		1,798,315
Atlantska Plovidba DD(1)		22,867		717,594
Dalekovod DD(1)		136,610		337,502
Ericsson Nikola Tesla DD		6,740		1,120,461
Hrvatski Telekom DD		453,186		10,273,662
INA Industrija Nafte DD		900		455,209
Koncar-Elektroindustrija DD		17,382		1,668,703
Kras DD(1)		7,262		479,860
Ledo DD		1,669		2,120,167
Petrokemija DD(1)		25,975		63,631
Podravka Prehrambena Industrija DD(1)		50,669		2,339,252
Privredna Banka Zagreb DD		3,177		283,112
Valamar Riviera DD		1,445,688		4,714,034
Zagrebacka Banka DD		194,885		1,189,654
			$	32,486,802
Czech Republic — 1.3%
CEZ AS		908,060	$	21,997,335
Fortuna Entertainment Group NV(1)		246,600		780,110
Komercni Banka AS		90,019		20,143,617
Pegas Nonwovens SA		96,614		3,199,810
Philip Morris CR AS		8,877		3,855,015
Unipetrol AS(1)		289,352		2,194,008
			$	52,169,895
Egypt — 1.6%
Alexandria Mineral Oils Co.		193,820	$	947,330

Security	Shares		Value
Egypt (continued)
Arab Cotton Ginning		1,993,380	$	804,727
Citadel Capital SAE(1)		2,280,400		575,029
Commercial International Bank Egypt SAE		2,449,586		17,536,586
Eastern Tobacco		281,822		7,755,235
Egypt Kuwait Holding Co. SAE		1,862,146		1,155,046
Egyptian Financial Group-Hermes Holding Co.(1)		1,981,023		2,734,157
Egyptian Resorts Co.(1)		4,721,950		671,756
El Ezz Aldekhela Steel Alexandria		4,000		198,761
ElSewedy Electric Co.(1)		529,606		3,143,203
Ezz Steel(1)		1,548,345		1,655,605
Global Telecom Holding SAE(1)		12,928,866		4,250,286
Juhayna Food Industries		4,494,565		4,721,751
Maridive & Oil Services SAE(1)		2,013,484		766,668
Misr Beni-Suef Cement Co.(1)		69,150		346,557
Orascom Telecom Media and Technology Holding SAE(1)		21,964,609		2,425,652
Oriental Weavers Co.		936,875		1,283,694
Palm Hills Developments SAE(1)		3,395,160		1,085,619
Pioneers Holding(1)		761,635		847,399
QNB Alahli Bank SAE(1)		234,568		1,047,614
Sidi Kerir Petrochemicals Co.		1,686,400		2,864,408
Six of October Development & Investment Co.(1)		382,178		523,582
South Valley Cement		704,261		438,251
Talaat Moustafa Group		4,487,196		4,711,850
Telecom Egypt		1,949,337		1,975,261
			$	64,466,027
Estonia — 0.2%
AS Merko Ehitus		50,618	$	463,264
AS Tallink Grupp		3,623,652		2,990,640
AS Tallinna Kaubamaja Grupp		137,340		908,290
AS Tallinna Vesi		58,790		859,039
Nordecon AS		145,374		170,744
Olympic Entertainment Group AS		503,790		1,063,015
			$	6,454,992
Ghana — 0.1%
Aluworks Ghana, Ltd.(1)		457,409	$	7,184
CAL Bank, Ltd.		1,298,010		352,446
Ghana Commercial Bank, Ltd.		1,554,441		1,798,961
Produce Buying Co., Ltd.(1)		582,428		17,578
Standard Chartered Bank of Ghana, Ltd.		148,200		736,842
			$	2,913,011

10 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Greece (4) — 1.5%
Aegean Airlines SA		46,112	$	259,569
Aegean Marine Petroleum Network, Inc.		91,225		997,089
Alpha Bank AE(1)		6,440,984		1,889,119
Athens Water Supply & Sewage Co. SA (The)		208,817		1,110,783
Costamare, Inc.		93,419		1,590,926
Diana Shipping, Inc.(1)		260,777		1,968,866
DryShips, Inc.(1)		1,762,212		928,333
Ellaktor SA(1)		593,062		1,010,165
Eurobank Ergasias SA(1)		14,183,453		1,860,359
FF Group(1)		82,904		1,827,434
Frigoglass SAIC(1)		104,857		200,571
GasLog, Ltd.		102,055		1,583,894
GEK Terna Holding Real Estate Construction SA(1)		381,049		621,276
Grivalia Properties REIC AE		14,830		99,419
Hellenic Exchanges - Athens Stock Exchange SA(1)		180,829		764,252
Hellenic Petroleum SA		248,848		1,060,793
Hellenic Telecommunications Organization SA		1,105,808		8,259,320
Intralot SA(1)		418,837		648,552
JUMBO SA		287,375		1,942,243
Marfin Investment Group Holdings SA(1)		1,854,199		229,693
Metka SA		108,300		768,452
Motor Oil (Hellas) Corinth Refineries SA		219,453		1,699,070
Mytilineos Holdings SA(1)		497,581		2,624,177
National Bank of Greece SA(1)		2,148,775		2,348,675
Navios Maritime Acquisition Corp.		202,800		803,088
Navios Maritime Holdings, Inc.		286,986		1,061,848
OPAP SA		528,742		3,761,366
Piraeus Bank SA(1)		3,473,666		1,265,608
Public Power Corp. SA(1)		1,208,704		5,185,511
Safe Bulkers, Inc.		176,900		608,536
StealthGas, Inc.(1)		122,975		692,349
Terna Energy SA(1)		112,955		315,860
Titan Cement Co. SA		266,462		5,193,974
Tsakos Energy Navigation, Ltd.		188,400		1,718,208
Viohalco SA(1)		223,488		565,913
			$	57,465,291
Hungary — 1.6%
Magyar Telekom Telecommunications PLC(1)		5,561,100	$	8,053,957
MOL Hungarian Oil & Gas Rt.		280,600		14,781,322
OTP Bank Rt.		1,063,830		21,801,510
Richter Gedeon Nyrt.		1,061,000		17,046,414
			$	61,683,203

Security	Shares		Value
India — 6.1%
ABB India, Ltd.		19,900	$	429,984
ACC, Ltd.		45,970		994,056
Adani Enterprises, Ltd.		180,900		245,148
Adani Ports and Special Economic Zone, Ltd.		1,425,552		7,229,347
Adani Power, Ltd.(1)		556,250		237,527
Adani Transmissions, Ltd.(1)		299,124		128,759
Aditya Birla Nuvo, Ltd.		17,702		603,696
Ambuja Cements, Ltd.		522,500		1,898,478
Amtek Auto, Ltd.		152,500		400,316
Asian Paints, Ltd.		249,700		3,437,254
Axis Bank, Ltd.		240,800		2,157,109
Bajaj Auto, Ltd.		59,560		2,342,777
Bank of Baroda		262,300		729,423
Bank of India		247,400		631,797
Bharat Forge, Ltd.		63,650		1,138,102
Bharat Heavy Electricals, Ltd.		659,700		2,860,372
Bharat Petroleum Corp., Ltd.		190,100		2,766,622
Bharti Airtel, Ltd.		2,225,936		14,551,662
Biocon, Ltd.		101,600		723,896
Cairn India, Ltd.		423,700		1,141,330
Canara Bank, Ltd.		127,831		549,170
Cipla, Ltd.		287,310		3,175,318
Coal India, Ltd.		402,200		2,758,076
Colgate-Palmolive (India), Ltd.		44,900		1,379,049
Container Corp. of India, Ltd.		54,240		1,391,768
Crompton Greaves, Ltd.		213,600		614,147
Cummins India, Ltd.		49,900		778,521
Dabur India, Ltd.		504,400		2,312,046
Divi’s Laboratories, Ltd.		46,800		1,433,068
DLF, Ltd.		445,700		799,134
Dr. Reddy’s Laboratories, Ltd.		73,620		4,701,857
Essar Oil, Ltd.(1)		274,130		824,978
GAIL (India), Ltd.		585,050		3,237,254
GlaxoSmithKline Pharmaceuticals, Ltd.		8,680		479,190
Glenmark Pharmaceuticals, Ltd.		125,460		1,971,154
GMR Infrastructure, Ltd.		1,721,400		378,040
Grasim Industries, Ltd.		8,158		523,488
Gujarat State Petronet, Ltd.		383,800		773,602
HCL Technologies, Ltd.		235,090		3,668,255
HDFC Bank, Ltd.		291,973		5,912,168
Hero MotoCorp, Ltd.		60,900		2,551,262
Hindalco Industries, Ltd.		515,910		845,079
Hindustan Petroleum Corp., Ltd.		131,400		1,894,334
Hindustan Unilever, Ltd.		691,300		9,942,425
Hindustan Zinc, Ltd.		148,400		362,944
Housing Development Finance Corp., Ltd.		343,661		7,161,923

11 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
India (continued)
ICICI Bank, Ltd.		516,934	$	2,433,378
IDBI Bank, Ltd.		367,000		375,304
Idea Cellular, Ltd.		1,816,900		4,906,434
IDFC, Ltd.		260,034		606,944
IFCI, Ltd.		1,152,200		446,110
Indiabulls Housing Finance, Ltd.		40,115		462,384
Indiabulls Real Estate, Ltd.(1)		646,300		633,102
Indian Hotels Co., Ltd.(1)		164,280		241,232
Indian Oil Corp., Ltd.		158,900		1,076,861
Infosys, Ltd.		672,068		11,319,711
ITC, Ltd.		1,313,460		6,667,857
Jaiprakash Associates, Ltd.(1)		658,200		98,960
Jindal Steel & Power, Ltd.		268,800		329,317
JSW Steel, Ltd.		135,800		1,758,218
Kotak Mahindra Bank, Ltd.		167,800		1,820,554
Larsen & Toubro, Ltd.		253,560		7,074,358
LIC Housing Finance, Ltd.		49,663		386,129
Lupin, Ltd.		148,500		3,933,239
Mahindra & Mahindra, Ltd.		226,260		4,788,776
Maruti Suzuki India, Ltd.		67,750		4,731,409
Nestle India, Ltd.		11,930		1,180,991
NMDC, Ltd.		86,003		136,858
NTPC, Ltd.		2,533,900		5,353,593
Oil & Natural Gas Corp., Ltd.		1,309,993		5,566,974
Oracle Financial Services Software, Ltd.		16,500		1,038,861
Piramal Enterprises, Ltd.		76,807		1,097,127
Power Grid Corporation of India, Ltd.		2,181,400		4,820,197
Reliance Capital, Ltd.		36,735		222,828
Reliance Communications, Ltd.(1)		1,412,060		1,548,703
Reliance Industries, Ltd.		867,245		13,536,283
Reliance Infrastructure, Ltd.		227,600		1,464,773
Reliance Power, Ltd.(1)		1,400,250		927,772
Siemens, Ltd.		47,180		1,071,038
State Bank of India		315,179		1,322,305
Steel Authority of India, Ltd.		513,200		450,414
Sun Pharmaceutical Industries, Ltd.		660,568		8,457,622
Sun TV Network, Ltd.		147,473		773,212
Suzlon Energy, Ltd.(1)		2,099,450		706,148
Tata Communications, Ltd.		127,400		892,924
Tata Consultancy Services, Ltd.		176,727		6,916,624
Tata Global Beverages, Ltd.		279,500		609,652
Tata Motors, Ltd.(1)		742,250		4,441,307
Tata Power Co., Ltd.		1,776,918		1,895,158
Tata Steel, Ltd.		149,296		572,673
Tech Mahindra, Ltd.		160,844		1,326,463
Titan Co., Ltd.		234,100		1,192,007

Security	Shares		Value
India (continued)
UltraTech Cement, Ltd.		58,600	$	2,874,867
Unitech, Ltd.(1)		2,836,900		333,467
United Spirits, Ltd.(1)		29,285		1,694,772
UPL, Ltd.		180,700		1,506,239
Vedanta, Ltd.		790,212		1,598,349
Voltas, Ltd.		296,300		1,468,868
Wipro, Ltd.		372,279		3,316,249
Yes Bank, Ltd.		55,200		713,184
Zee Entertainment Enterprises, Ltd.		373,114		2,325,613
			$	242,510,297
Indonesia — 2.8%
Adaro Energy Tbk PT		51,915,400	$	2,263,200
AKR Corporindo Tbk PT		5,472,400		2,324,570
Aneka Tambang Persero Tbk PT(1)		10,251,500		359,295
Astra Argo Lestari Tbk PT		775,000		1,149,453
Astra International Tbk PT		16,851,600		8,275,011
Bank Central Asia Tbk PT		8,293,200		8,027,494
Bank Danamon Indonesia Tbk PT		4,504,303		1,398,374
Bank Mandiri Tbk PT		5,275,700		3,703,930
Bank Negara Indonesia Persero Tbk PT		5,815,300		2,043,902
Bank Pan Indonesia Tbk PT(1)		4,945,000		388,835
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		12,193,000		725,868
Bank Rakyat Indonesia Tbk PT		5,805,000		4,288,572
Bank Tabungan Negara Tbk PT		10,171,500		879,203
Berlian Laju Tanker Tbk PT(1)(3)		7,544,500		0
Bumi Resources Tbk PT(1)		37,563,000		138,768
Bumi Serpong Damai Tbk PT		13,777,500		1,820,390
Charoen Pokphand Indonesia Tbk PT		8,948,300		1,674,872
Energi Mega Persada Tbk PT(1)		64,369,200		266,107
Gudang Garam Tbk PT		660,000		2,413,556
Harum Energy Tbk PT		2,626,500		193,236
Holcim Indonesia Tbk PT		3,029,000		317,908
Indo Tambangraya Megah Tbk PT		1,056,300		757,360
Indocement Tunggal Prakarsa Tbk PT		2,435,200		3,599,560
Indofood Sukses Makmur Tbk PT		4,564,300		2,056,719
Indosat Tbk PT(1)		2,794,500		888,181
Jasa Marga (Persero) Tbk PT		3,198,000		1,353,421
Kalbe Farma Tbk PT		57,805,000		7,449,804
Lippo Karawaci Tbk PT		28,867,500		2,463,204
Matahari Putra Prima Tbk PT		7,240,000		1,551,309
Medco Energi Internasional Tbk PT		4,497,500		854,165
Media Nusantara Citra Tbk PT		3,201,000		483,531
MNC Investama Tbk PT		49,042,500		1,036,415
Pembangunan Perumahan Persero Tbk PT		9,145,000		2,635,265

12 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Indonesia (continued)
Perusahaan Gas Negara Tbk PT		23,109,700	$	6,826,770
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		7,185,000		718,644
Semen Indonesia Persero Tbk PT		5,479,200		4,088,155
Sigmagold Inti Perkasa Tbk PT(1)		17,097,000		554,738
Siloam International Hospitals Tbk PT		976,400		1,194,233
Sugih Energy Tbk PT(1)		28,308,700		832,910
Surya Semesta Internusa Tbk PT		14,275,000		833,072
Tambang Batubara Bukit Asam Tbk PT		2,672,800		1,184,716
Telekomunikasi Indonesia Tbk PT		60,071,500		13,036,791
Tower Bersama Infrastructure Tbk PT(1)		2,871,000		1,777,919
Trada Maritime Tbk PT(1)		10,350,500		38,253
Unilever Indonesia Tbk PT		1,486,800		4,396,545
United Tractors Tbk PT		3,690,783		5,505,431
Vale Indonesia Tbk PT		5,222,500		754,874
Wijaya Karya Persero Tbk PT		6,522,800		1,278,378
XL Axiata Tbk PT(1)		4,954,500		1,084,576
			$	111,887,483
Jordan — 0.8%
Al Eqbal Co. for Investment PLC		92,532	$	1,831,359
Alia The Royal Jordanian Airlines PLC(1)(3)		454,236		185,965
Arab Bank PLC		1,560,600		13,520,498
Arab Potash Co. PLC		68,846		2,279,163
Bank of Jordan		214,422		756,433
Cairo Amman Bank		278,672		899,804
Capital Bank of Jordan		406,376		682,487
Jordan Ahli Bank		921,899		1,509,839
Jordan Dubai Islamic Bank(1)		301,685		389,688
Jordan Islamic Bank		369,023		1,828,265
Jordan Petroleum Refinery		567,373		3,832,339
Jordan Phosphate Mines(1)		183,247		1,528,759
Jordan Steel(1)		453,091		363,829
Jordan Telecommunications Co.		316,230		1,312,185
Jordanian Electric Power Co.		484,781		1,725,679
Union Investment Corp. PLC(1)		409,693		798,021
			$	33,444,313
Kazakhstan — 0.7%
Halyk Savings Bank of Kazakhstan JSC GDR(5)		774,972	$	6,302,077
KAZ Minerals PLC(1)		2,680,585		6,766,871
Kazkommertsbank JSC GDR(1)(5)		360,501		1,080,234
KazMunaiGas Exploration Production GDR(5)		629,000		5,517,601
Kcell JSC GDR(5)		670,428		4,611,608
Nostrum Oil & Gas PLC		340,501		2,764,130
			$	27,042,521

Security	Shares		Value
Kenya — 0.7%
ARM Cement, Ltd.		1,241,600	$	764,651
Bamburi Cement Co., Ltd.		606,300		917,791
Barclays Bank of Kenya, Ltd.		8,196,160		1,120,564
Co-operative Bank of Kenya, Ltd. (The)		8,936,200		1,701,597
East African Breweries, Ltd.		2,127,780		6,129,571
Equity Group Holdings, Ltd.		8,739,600		3,328,465
KenolKobil, Ltd.		4,090,000		329,874
Kenya Airways, Ltd.(1)		1,264,800		70,395
Kenya Commercial Bank, Ltd.		6,729,920		3,286,150
Kenya Electricity Generating Co., Ltd.		5,488,800		444,601
Kenya Power & Lighting, Ltd.		9,484,354		1,472,456
Nation Media Group, Ltd.		407,184		747,809
Safaricom, Ltd.		50,844,772		7,148,366
Standard Chartered Bank Kenya, Ltd.		149,188		385,998
			$	27,848,288
Kuwait — 1.6%
Agility Public Warehousing Co. KSC		2,823,507	$	6,058,402
Ahli United Bank		366,855		666,462
Al Ahli Bank of Kuwait KSCP		510,925		607,536
Al Safat Energy Holding Co. KSC(1)		1,880,000		120,481
ALAFCO Aviation Lease and Finance Co. KSCP		1,327,500		982,236
Boubyan Bank KSCP		561,188		786,998
Boubyan Petrochemicals Co.		2,155,914		4,060,325
Burgan Bank SAK		1,027,040		1,407,365
Combined Group Contracting Co. KSC		84,551		226,883
Commercial Bank of Kuwait KSCP		405,150		803,731
Commercial Real Estate Co. KSCC		2,296,205		659,737
Gulf Bank(1)		2,050,525		1,899,027
Gulf Cable and Electrical Industries Co. KSC		424,072		699,676
Jazeera Airways Co. KSC		339,700		526,220
Kuwait Cement Co.		533,870		634,282
Kuwait Finance House KSCP		2,532,187		5,272,946
Kuwait Food Co. (Americana) SAK		484,700		4,511,746
Kuwait International Bank		974,124		778,237
Kuwait Pipes Industries & Oil Services Co.(1)(3)		1,188,500		0
Kuwait Portland Cement Co. KSC		267,750		1,049,696
Kuwait Projects Co. Holdings KSC		927,112		2,082,522
Kuwait Real Estate Co. KSC		3,694,155		852,908
Mabanee Co. SAK		964,643		3,151,889
Mobile Telecommunications Co.		7,452,608		10,183,204
National Bank of Kuwait SAK		2,715,898		7,629,695
National Industries Group Holding SAK		4,323,111		2,512,602
National Investment Co.		1,510,000		638,454
National Ranges Co. KPSC(1)		2,219,111		212,624
Qurain Petrochemical Industries Co. KSC		3,195,160		2,068,374

13 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Kuwait (continued)
Sultan Center Food Products Co.(1)		4,020,000	$	1,076,032
VIVA Kuwait Telecom Co.(1)		910,400		2,807,755
			$	64,968,045
Latvia — 0.0%(2)
Grindeks		42,000	$	261,998
Latvian Shipping Co.(1)		405,000		171,085
			$	433,083
Lebanon — 0.1%
Solidere GDR(5)		327,361	$	3,664,357
Solidere, Class A		88,066		979,357
Solidere, Class B		1,760		19,201
			$	4,662,915
Lithuania — 0.1%
Apranga PVA		278,536	$	834,323
Klaipedos Nafta AB		1,345,900		584,468
Lesto AB		118,064		119,715
Pieno Zvaigzdes		104,200		174,408
Rokiskio Suris(1)		122,500		195,198
Siauliu Bankas		949,231		308,648
			$	2,216,760
Malaysia — 3.0%
Aeon Co. (M) Bhd		661,200	$	482,364
Airasia Bhd		1,228,200		436,758
Alliance Financial Group Bhd		560,300		621,099
AMMB Holdings Bhd		887,900		1,297,011
Astro Malaysia Holdings Bhd		979,300		786,268
Axiata Group Bhd		2,706,750		4,504,978
Batu Kawan Bhd		210,000		1,001,161
Berjaya Corp. Bhd		4,369,700		445,332
Berjaya Sports Toto Bhd		824,362		717,734
Boustead Holdings Bhd		596,210		629,281
British American Tobacco Malaysia Bhd		109,700		1,940,858
Bumi Armada Bhd(1)		3,133,350		906,374
Bursa Malaysia Bhd		344,900		728,550
CIMB Group Holdings Bhd		1,771,500		2,490,930
Dialog Group Bhd		5,451,814		2,291,341
Digi.com Bhd		1,873,500		2,645,750
Felda Global Ventures Holdings Bhd		1,358,400		598,388
Gamuda Bhd		2,919,700		3,681,966
Genting Bhd		1,448,500		3,080,305
Genting Malaysia Bhd		2,155,600		2,407,014

Security	Shares		Value
Malaysia (continued)
Genting Plantations Bhd		261,700	$	710,595
Hartalega Holdings Bhd		59,300		134,053
Hong Leong Bank Bhd		382,900		1,358,725
Hong Leong Financial Group Bhd		276,000		1,143,501
IHH Healthcare Bhd		4,325,800		6,800,954
IJM Corp. Bhd		1,828,190		3,255,471
IOI Corp. Bhd		2,439,818		2,704,559
IOI Properties Group Bhd		1,044,058		521,481
KLCCP Stapled Group		399,100		739,479
KNM Group Bhd(1)		5,003,150		756,038
Kuala Lumpur Kepong Bhd		358,700		2,063,146
Kulim (Malaysia) Bhd		860,000		561,907
Lafarge Malaysia Bhd		942,950		2,330,766
Magnum Bhd		940,340		663,375
Malayan Banking Bhd		1,980,587		4,761,372
Malaysia Airports Holdings Bhd		342,800		531,430
Malaysia Marine and Heavy Engineering Holdings Bhd(1)		739,000		220,017
Malaysian Resources Corp. Bhd		1,423,500		402,487
Maxis Bhd		1,737,900		3,029,860
Media Prima Bhd		575,000		200,246
MISC Bhd		482,400		983,540
MMC Corp. Bhd		1,217,800		697,845
Mudajaya Group Bhd		510,600		156,194
Nestle Malaysia Bhd		12,300		231,510
Parkson Holdings Bhd(1)		958,655		336,557
Petronas Chemicals Group Bhd		4,123,000		6,908,749
Petronas Dagangan Bhd		507,500		2,797,196
Petronas Gas Bhd		378,800		2,182,096
PPB Group Bhd		404,100		1,632,425
Press Metal Bhd		1,469,400		944,388
Public Bank Bhd		837,820		4,161,877
RHB Capital Bhd		733,900		1,426,841
Sapurakencana Petroleum Bhd		5,340,168		3,413,345
Silverlake Axis, Ltd.		703,200		498,484
Sime Darby Bhd		3,863,639		8,812,515
Sunway Bhd		304,600		276,271
Sunway Construction Group Bhd(1)		30,460		9,398
Supermax Corp. Bhd		1,732,700		1,114,895
TA Enterprise Bhd		1,323,000		236,750
Tan Chong Motor Holdings Bhd		265,900		191,821
Telekom Malaysia Bhd		1,249,900		2,141,017
Tenaga Nasional Bhd		2,361,125		7,526,922
Top Glove Corp. Bhd		713,900		1,423,067
UEM Sunrise Bhd		1,683,050		428,482
UMW Holdings Bhd		448,400		1,172,759

14 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Malaysia (continued)
UMW Oil & Gas Corp. Bhd		549,700	$	198,134
Unisem (M) Bhd		2,784,300		1,646,979
Wah Seong Corp. Bhd		445,076		153,390
WCT Holdings Bhd		1,283,081		469,571
YTL Corp. Bhd		2,863,465		1,182,964
YTL Power International Bhd		1,883,197		773,131
			$	118,712,037
Mauritius — 0.8%
Alteo, Ltd.		637,758	$	557,975
CIEL, Ltd.		1,576,086		306,295
CIM Financial Services, Ltd.		5,820,100		1,449,120
LUX Island Resorts, Ltd.		1,037,348		1,800,667
MCB Group, Ltd.		2,411,789		15,319,639
New Mauritius Hotels, Ltd.(1)		6,219,198		3,337,868
Phoenix Beverages, Ltd.		7,498		84,692
Rogers & Co., Ltd.		2,431,349		2,051,374
SBM Holdings, Ltd.		212,155,230		5,329,487
Sun Resorts, Ltd., Class A(1)		449,032		508,164
Terra Mauricia, Ltd.		1,085,900		929,207
United Basalt Products, Ltd.		371,540		849,459
United Docks, Ltd.(1)		27,400		52,444
			$	32,576,391
Mexico — 6.4%
Alfa SAB de CV, Series A		7,983,200	$	15,859,875
Alsea SAB de CV		694,800		2,250,527
America Movil SAB de CV ADR, Series L		905,400		17,546,652
America Movil SAB de CV, Series L		27,725,350		26,963,924
Arca Continental SAB de CV		800,314		4,806,603
Bolsa Mexicana de Valores SAB de CV		1,503,700		2,695,228
Cemex SAB de CV ADR(1)		1,322,136		11,238,156
Cemex SAB de CV, Series CPO(1)		10,926,130		9,317,302
Coca-Cola Femsa SAB de CV, Series L		359,300		2,716,074
Controladora Comercial Mexicana SA de CV		518,500		1,522,757
Corporacion GEO SAB de CV, Series B(1)(3)		1,144,000		0
Desarrolladora Homex SAB de CV(1)(3)		776,450		0
El Puerto de Liverpool SAB de CV		107,300		1,258,232
Empresas ICA SAB de CV(1)		2,747,100		1,735,639
Fibra Uno Administracion SA de CV		2,173,500		5,221,796
Fomento Economico Mexicano SAB de CV ADR		37,200		3,371,808
Fomento Economico Mexicano SAB de CV, Series UBD		1,447,100		13,130,552
Genomma Lab Internacional SAB de CV(1)		2,778,500		2,586,656
Gentera SAB de CV		2,788,400		4,800,634
Grupo Aeroportuario del Centro Norte SAB de CV(1)		92,100		511,359

Security	Shares		Value
Mexico (continued)
Grupo Aeroportuario del Pacifico SAB de CV, Class B(1)		643,387	$	5,077,217
Grupo Aeroportuario del Sureste SAB de CV, Class B		293,800		4,392,276
Grupo Bimbo SAB de CV, Series A(1)		2,277,300		6,102,952
Grupo Carso SAB de CV, Series A1		1,061,100		4,814,710
Grupo Elektra SAB de CV		101,895		2,203,904
Grupo Financiero Banorte SAB de CV, Class O		3,428,600		18,112,796
Grupo Financiero Inbursa SAB de CV, Class O		4,951,200		11,216,062
Grupo Mexico SAB de CV, Series B		4,508,679		12,315,095
Grupo Sanborns SAB de CV		226,889		364,290
Grupo Simec SA de CV, Series B(1)		133,800		382,902
Grupo Televisa SAB ADR		431,500		15,042,090
Grupo Televisa SAB, Series CPO		1,550,600		10,801,511
Impulsora del Desarrollo y el Empleo en America Latina SA de CV, Series B1(1)		1,038,200		2,016,798
Industrias CH SAB de CV, Series B(1)		225,500		797,735
Industrias Penoles SAB de CV		188,600		2,874,094
Infraestructura Energetica Nova SAB de CV		180,000		875,842
Kimberly-Clark de Mexico SAB de CV, Class A		1,727,100		4,009,980
Mexichem SAB de CV		1,483,316		4,345,230
Minera Frisco SAB de CV(1)		714,800		424,111
OHL Mexico SAB de CV(1)		438,300		717,601
Organizacion Soriana SAB de CV, Class B		120,000		239,069
Promotora y Operadora de Infraestructura SAB de CV(1)		487,400		5,590,769
Ternium SA ADR		46,000		715,300
TV Azteca SAB de CV, Series CPO		1,240,300		239,400
Urbi Desarrollos Urbanos SAB de CV(1)(3)		2,260,600		0
Wal-Mart de Mexico SAB de CV, Series V		5,879,400		14,252,870
			$	255,458,378
Morocco — 0.8%
Alliances Developpement Immobilier SA		7,000	$	39,076
Attijariwafa Bank		140,404		5,082,568
Banque Centrale Populaire		133,714		3,080,592
BMCE Bank		97,829		2,157,520
Ciments du Maroc		2,591		340,416
Delta Holding SA		52,900		150,345
Douja Promotion Groupe Addoha SA		278,635		816,811
Holcim Maroc SA		12,874		2,977,993
Label Vie(1)		2,100		272,810
Managem		9,862		866,597
Maroc Telecom		655,849		7,804,996
Samir		15,717		223,683
Societe Lafarge Ciments SA		18,510		3,608,379
Sonasid		3,036		247,539

15 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Morocco (continued)
Taqa Morocco		28,081	$	1,593,557
Wafa Assurance		1,600		616,447
			$	29,879,329
Nigeria — 0.7%
Access Bank PLC		20,986,349	$	502,391
Afriland Properties PLC(1)(3)		1,169,236		0
Cadbury Nigeria PLC		397,700		66,474
Dangote Cement PLC		2,932,919		2,517,447
Dangote Sugar Refinery PLC		5,586,250		170,872
Diamond Bank PLC		16,654,000		317,682
Ecobank Transnational, Inc.(1)		14,145,874		1,351,108
FBN Holdings PLC		35,028,318		1,212,126
FCMB Group PLC		23,552,733		322,972
Fidelity Bank PLC(1)		22,430,824		168,926
Flour Mills of Nigeria PLC		2,057,956		303,805
Forte Oil PLC		1,622,126		1,533,436
Guaranty Trust Bank PLC		26,287,879		3,035,132
Guiness Nigeria PLC		1,109,846		696,246
Lafarge Africa PLC		3,755,270		1,917,988
Lekoil, Ltd.(1)		1,624,911		571,871
Nestle Nigeria PLC		468,973		2,096,025
Nigerian Breweries PLC		5,387,207		3,276,826
Oando PLC		16,928,421		1,081,040
PZ Cussons Nigeria PLC		2,100,282		289,931
SEPLAT Petroleum Development Co. PLC(6)		996,758		1,534,189
Skye Bank PLC(1)		16,828,665		168,047
Stanbic IBTC Holdings PLC		1,977,675		214,588
Transnational Corp. of Nigeria PLC		30,056,660		310,550
UAC of Nigeria PLC		6,386,813		1,218,163
Unilever Nigeria PLC		2,740,833		523,304
United Bank for Africa PLC		29,618,308		625,096
Zenith Bank PLC		25,817,139		2,079,265
			$	28,105,500
Oman — 0.8%
Al Anwar Ceramic Tiles Co.		622,746	$	653,621
Bank Dhofar SAOG		1,957,041		1,351,466
Bank Muscat SAOG		4,252,852		6,123,312
Bank Sohar SAOG		5,741,827		3,073,152
Dhofar International Development & Investment Holding SAOG		339,824		407,683
Galfar Engineering & Contracting SAOG(1)		2,070,926		651,398
HSBC Bank Oman SAOG		1,709,435		589,704
National Bank of Oman SAOG		1,655,709		1,487,356

Security	Shares		Value
Oman (continued)
Oman Cables Industry SAOG		93,600	$	557,590
Oman Cement Co. SAOG		741,260		1,001,995
Oman Flour Mills Co. SAOG		561,100		740,071
Oman National Investment Corp. Holdings		272,868		340,111
Oman Telecommunications Co. SAOG		1,399,971		6,380,200
Omani Qatari Telecommunications Co. SAOG		1,800,500		3,753,652
Ominvest		1,505,084		1,907,248
Raysut Cement Co. SAOG		634,209		2,462,694
Renaissance Services SAOG		2,280,925		1,632,173
Sembcorp Salalah Power & Water Co.		50,000		323,339
Shell Oman Marketing Co. SAOG		34,398		179,051
			$	33,615,816
Pakistan — 0.8%
Adamjee Insurance Co., Ltd.		415,744	$	229,685
Azgard Nine, Ltd.(1)		1,954,200		123,071
Bank Alfalah, Ltd.		1,414,538		392,665
D.G. Khan Cement Co., Ltd.		503,732		756,006
Engro Corp., Ltd.		465,287		1,482,109
Engro Fertilizers, Ltd.		736,028		671,218
Engro Foods, Ltd.(1)		1,210,400		1,957,317
Fauji Fertilizer Bin Qasim, Ltd.		1,184,000		680,547
Fauji Fertilizer Co., Ltd.		1,165,210		1,681,459
Habib Bank, Ltd.		291,617		668,962
Hub Power Co., Ltd.		4,680,800		4,597,928
Kot Addu Power Co., Ltd.		875,900		763,690
Lucky Cement, Ltd.		328,200		1,791,152
MCB Bank, Ltd.		1,740,030		4,787,520
Millat Tractors, Ltd.		139,790		913,415
National Bank of Pakistan		803,040		449,827
Nishat Mills, Ltd.		1,142,810		1,285,914
Oil & Gas Development Co., Ltd.		1,240,991		1,985,229
Pakistan Oil Fields, Ltd.		211,100		764,835
Pakistan Petroleum, Ltd.		910,577		1,385,631
Pakistan State Oil Co., Ltd.		357,320		1,302,984
Pakistan Telecommunication Co., Ltd.		3,306,700		716,266
SUI Southern Gas Co., Ltd.(1)		1,459,500		792,286
United Bank, Ltd.		564,045		1,014,236
			$	31,193,952
Panama — 0.3%
Copa Holdings SA, Class A		133,300	$	10,068,149
			$	10,068,149

16 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Peru — 1.5%
Alicorp SAA(1)		3,848,309	$	6,401,568
Banco Continental SA		537,580		701,903
Casa Grande SAA(1)		99,420		182,545
Cementos Pacasmayo SAA		241,600		375,355
Cia de Minas Buenaventura SA ADR		470,280		3,348,394
Cia Minera Milpo SA		676,862		515,172
Credicorp, Ltd.		156,994		20,707,509
Edegel SA		1,894,571		2,194,208
Edelnor SA		108,248		195,357
Energia del Sur SA		120,072		333,523
Ferreycorp SAA		6,227,411		2,677,742
Grana y Montero SAA		2,096,520		2,467,578
Intercorp Financial Services, Inc.		66,690		1,906,667
Luz del Sur SAA		548,126		1,965,519
Minsur SA		1,961,259		732,525
Sociedad Minera Cerro Verde SAA(1)		44,121		882,420
Southern Copper Corp.		483,627		13,473,848
Union Andina de Cementos SAA		1,014,000		768,592
Volcan Cia Minera SAA, Class B		5,911,333		964,782
			$	60,795,207
Philippines — 3.0%
Aboitiz Equity Ventures, Inc.		3,611,100	$	4,619,472
Aboitiz Power Corp.		4,371,000		4,175,266
ABS-CBN Holdings Corp. PDR		138,370		182,999
Alliance Global Group, Inc.		4,540,000		2,242,445
Ayala Corp.		245,795		4,192,586
Ayala Land, Inc.		5,465,000		4,465,699
Ayala Land, Inc., PFC Shares(3)		3,951,800		0
Bank of the Philippine Islands		1,270,595		2,636,892
BDO Unibank, Inc.		1,274,481		2,799,487
Bloomberry Resorts Corp.		15,369,700		3,260,850
Cosco Capital, Inc.		3,726,300		602,744
D&L Industries, Inc.		2,407,000		1,133,639
DMCI Holdings, Inc.		8,668,000		2,254,708
Emperador, Inc.		4,313,300		830,507
Energy Development Corp.		20,767,300		3,253,349
Filinvest Land, Inc.		14,494,000		599,036
First Gen Corp.		3,778,322		2,136,138
First Philippine Holdings Corp.		587,500		1,063,659
Globe Telecom, Inc.		45,740		2,580,401
GT Capital Holdings, Inc.		67,795		2,076,128
Holcim Philippines, Inc.		1,492,000		429,042
International Container Terminal Services, Inc.		746,400		1,792,577
JG Summit Holding, Inc.		4,019,900		6,365,936
Jollibee Foods Corp.		1,179,850		4,899,256

Security	Shares		Value
Philippines (continued)
Lopez Holdings Corp.		4,600,000	$	725,031
LT Group, Inc.		5,822,400		1,890,756
Manila Electric Co.		577,330		3,771,554
Manila Water Co.		2,187,700		1,194,187
Megaworld Corp.		12,596,000		1,304,853
Melco Crown Philippines Resorts Corp.(1)		3,711,400		649,195
Metro Pacific Investments Corp.		7,682,400		814,759
Metropolitan Bank & Trust Co.		1,171,246		2,261,122
Nickel Asia Corp.		5,281,800		1,215,804
Pepsi-Cola Products Philippines, Inc.		1,388,000		144,839
Petron Corp.		4,267,400		932,596
Philex Mining Corp.		6,094,825		717,391
Philex Petroleum Corp.(1)		283,500		10,162
Philippine Long Distance Telephone Co.		231,120		14,645,934
Puregold Price Club, Inc.		2,674,400		2,164,041
Robinsons Land Corp.		2,417,100		1,487,391
Robinsons Retail Holdings, Inc.		1,269,250		2,094,044
San Miguel Corp.		716,000		881,102
Security Bank Corp.		243,300		791,664
Semirara Mining & Power Co.		1,426,620		3,726,529
SM Investments Corp.		359,172		7,014,573
SM Prime Holdings, Inc.		9,538,699		4,469,920
SSI Group, Inc.(1)		2,061,000		391,532
Travellers International Hotel Group, Inc.		3,521,900		410,452
Universal Robina Corp.		1,858,330		7,776,809
Vista Land & Lifescapes, Inc.		3,675,000		568,815
			$	120,647,871
Poland — 3.2%
Agora SA(1)		125,463	$	384,782
AmRest Holdings SE(1)		7,766		355,370
Asseco Poland SA		512,726		7,828,968
Bank Handlowy w Warszawie SA		50,570		1,243,328
Bank Millennium SA(1)		687,285		1,121,361
Bank Pekao SA		179,638		7,578,503
Bank Zachodni WBK SA(1)		16,600		1,323,666
Bioton SA(1)		425,302		801,515
Boryszew SA		122,670		194,291
Budimex SA		27,910		1,371,410
CCC SA		43,900		2,244,687
Cyfrowy Polsat SA(1)		1,022,728		6,260,313
Enea SA		202,800		792,575
Eurocash SA		355,800		4,089,471
Getin Holding SA(1)		365,918		154,347
Getin Noble Bank SA(1)		2,322,186		743,967
Grupa Azoty SA(1)		76,370		1,718,844

17 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Poland (continued)
Grupa Lotos SA(1)		101,253	$	846,449
ING Bank Slaski SA		47,450		1,576,749
Jastrzebska Spolka Weglowa SA(1)		138,610		435,134
KGHM Polska Miedz SA		344,982		8,669,530
KOPEX SA		125,900		240,149
LPP SA		1,811		3,697,998
Lubelski Wegiel Bogdanka SA		49,706		690,071
mBank SA(1)		23,504		2,355,702
Netia SA		1,111,077		1,664,987
Orange Polska SA		2,781,316		5,993,552
Orbis SA		30,000		470,171
PGE SA		1,874,600		8,806,969
PKP Cargo SA		27,389		581,997
Polimex-Mostostal SA(1)		9,735,442		234,545
Polski Koncern Naftowy Orlen SA		796,258		16,058,294
Polskie Gornictwo Naftowe i Gazownictwo SA		3,952,621		6,587,065
Powszechna Kasa Oszczednosci Bank Polski SA		1,151,310		8,914,417
Powszechny Zaklad Ubezpieczen SA		86,300		9,861,775
Synthos SA		844,500		1,055,170
Tauron Polska Energia SA		3,279,494		3,295,342
TVN SA		918,442		4,833,030
			$	125,076,494
Qatar — 1.6%
Aamal Co. QSC		177,687	$	715,486
Barwa Real Estate Co.		146,293		2,002,481
Doha Bank QSC		100,995		1,468,207
Gulf International Services QSC		205,956		3,856,144
Industries Qatar		238,919		8,871,897
Masraf Al Rayan QSC		692,465		8,535,445
Ooredoo QSC		132,696		2,942,432
Qatar Electricity & Water Co. QSC		84,058		5,100,486
Qatar Gas Transport Co., Ltd.		605,140		3,667,819
Qatar Insurance Co.		67,706		1,824,902
Qatar International Islamic Bank		45,943		979,715
Qatar Islamic Bank	��	98,955		2,970,145
Qatar National Bank SAQ		206,274		10,322,780
Qatar National Cement Co. QSC		31,625		1,035,613
Qatar Navigation QSC		52,421		1,433,301
Qatari Investors Group		37,029		509,406
United Development Co. QSC		117,835		817,978
Vodafone Qatar QSC		1,185,810		5,140,409
			$	62,194,646

Security	Shares		Value
Romania — 0.8%
Banca Transilvania(1)		16,257,360	$	9,703,383
BRD-Groupe Societe Generale SA(1)		2,833,794		8,050,160
OMV Petrom SA		45,352,995		4,419,792
Societatea Nationala de Gaze Naturale ROMGAZ SA		555,151		4,751,494
Societatea Nationala Nuclearelectrica SA		794,100		1,481,252
Transelectrica SA		426,930		2,911,990
Transgaz SA Medias		27,412		1,872,194
			$	33,190,265
Russia — 5.5%
Aeroflot - Russian Airlines (PJSC)(1)		1,876,656	$	1,192,907
AK Transneft OAO, PFC Shares		1,847		4,170,613
CTC Media, Inc.		628,567		1,181,706
E.ON Russia JSC		8,737,000		369,248
Eurasia Drilling Co., Ltd. GDR(5)		23,517		366,979
Evraz PLC(1)		916,942		1,441,912
Federal Grid Co. Unified Energy System (PJSC)		1,585,875,440		1,739,085
Gazprom PAO		1,755,200		4,041,378
Gazprom PAO ADR		4,478,501		20,588,686
Globaltrans Investment PLC GDR(1)(5)		207,458		745,811
Inter RAO UES (PJSC)		71,597,070		1,319,155
Lenta, Ltd. GDR(1)(5)		133,659		1,027,105
LSR Group PJSC GDR(5)		186,400		409,060
Lukoil (PJSC) ADR		472,457		19,455,095
Luxoft Holding, Inc.(1)		13,100		822,156
Magnit PJSC		85,215		16,834,597
Magnit PJSC GDR(5)		167,418		9,065,987
Magnitogorsk Iron & Steel Works OJSC GDR(5)		105,708		428,661
Mail.ru Group, Ltd. GDR(1)(5)		265,535		4,970,752
Mechel ADR(1)		378,000		368,134
MegaFon PJSC GDR(5)		249,745		3,090,409
MMC Norilsk Nickel (PJSC)		2,386		363,618
MMC Norilsk Nickel (PJSC) ADR		775,037		11,956,969
Mobile TeleSystems (PJSC)		3,400,577		12,371,993
Moscow Exchange MICEX-RTS (PJSC)		1,214,410		1,388,751
Mosenergo PAO		8,811,603		125,525
NovaTek OAO GDR(5)		74,808		7,433,600
Novolipetsk Steel GDR(5)		156,893		2,059,943
OAO TMK GDR(5)		64,757		251,051
O’Key Group SA GDR(5)		15,504		41,628
PhosAgro OAO GDR(5)		28,064		380,978
PIK Group		12,354		34,343
PIK Group GDR(5)		166,400		435,811
Polymetal International PLC		295,128		2,084,863
Polyus Gold International, Ltd.		137,262		378,239
QIWI PLC ADR		51,408		1,574,113

18 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Russia (continued)
Rosneft OAO GDR(5)		1,056,332	$	4,053,037
Rossetti JSC(1)		135,144,187		1,038,130
Rostelecom (PJSC)		1,492,177		2,041,625
Rostelecom (PJSC) ADR		15,064		121,868
RusHydro JSC		395,274,080		3,392,924
RusHydro JSC ADR		348,000		310,004
Sberbank of Russia		9,493,768		11,044,628
Sberbank of Russia ADR		1,431,200		7,041,400
Severstal PAO GDR(5)		428,946		4,831,683
Sistema JSFC		10,069,378		3,388,031
Sistema JSFC GDR(5)		41,430		351,465
Sollers OJSC(1)		24,262		143,795
Surgutneftegas OAO ADR		927,852		5,212,576
Surgutneftegas OAO, PFC Shares		7,577,600		4,609,688
Tatneft ADR		237,559		6,955,754
VimpelCom, Ltd. ADR		751,784		4,345,312
VTB Bank JSC		2,064,590,000		2,400,258
VTB Bank JSC GDR(5)		2,903,354		6,820,437
X5 Retail Group NV GDR(1)(5)		385,980		6,885,703
Yandex NV, Class A(1)		639,200		8,891,272
			$	218,390,451
Slovenia — 0.8%
Cinkarna Celje DD		6,272	$	964,877
Gorenje DD		349,170		2,377,559
KRKA DD		159,605		11,524,958
Luka Koper		118,550		3,385,063
Petrol		12,467		3,504,202
Pivovarna Lasko(1)		32,721		869,645
Sava DD(1)		18,004		2,393
Sava Reinsurance Co.		179,037		2,770,033
Telekom Slovenije DD		27,437		2,831,188
Zavarovalnica Triglav DD		139,239		3,839,576
			$	32,069,494
South Africa — 6.2%
AECI, Ltd.		73,130	$	625,655
African Bank Investments, Ltd.(1)(3)		1,537,194		0
African Rainbow Minerals, Ltd.		94,900		521,333
Allied Electronics Corp., Ltd.		186,200		137,484
Anglo American Platinum, Ltd.(1)		58,680		1,221,071
AngloGold Ashanti, Ltd.(1)		403,071		2,452,672
Aquarius Platinum, Ltd.(1)		173,100		16,735
Arcelormittal South Africa, Ltd.(1)		50,577		58,413
Aspen Pharmacare Holdings, Ltd.		392,807		11,502,459

Security	Shares		Value
South Africa (continued)
Astral Foods, Ltd.		18,500	$	244,642
Aveng, Ltd.(1)		939,990		478,187
AVI, Ltd.		319,500		2,013,866
Barclays Africa Group, Ltd.		193,289		2,841,620
Barloworld, Ltd.		662,120		4,697,551
Bidvest Group, Ltd. (The)		605,796		14,710,262
Capital Property Fund(1)		1,259,064		1,461,661
Capitec Bank Holdings, Ltd.		42,400		1,561,317
Clicks Group, Ltd.		167,700		1,276,269
DataTec, Ltd.		160,600		864,993
Discovery, Ltd.		252,631		2,706,904
Exxaro Resources, Ltd.		118,010		697,113
FirstRand, Ltd.		1,677,145		7,245,346
Foschini Group, Ltd. (The)		63,545		722,026
Gold Fields, Ltd.		681,677		1,862,231
Grindrod, Ltd.		340,300		359,180
Group Five, Ltd.		81,460		151,368
Growthpoint Properties, Ltd.		1,042,876		2,282,135
Harmony Gold Mining Co., Ltd.(1)		374,410		355,843
Hosken Consolidated Investments, Ltd.		5,046		55,286
Hyprop Investments, Ltd.		92,800		951,987
Illovo Sugar, Ltd.		174,700		184,276
Impala Platinum Holdings, Ltd.(1)		533,748		1,915,704
Imperial Holdings, Ltd.		78,001		1,046,892
Investec, Ltd.		182,794		1,655,316
JSE, Ltd.		105,800		1,231,771
Kumba Iron Ore, Ltd.		66,960		572,842
Lewis Group, Ltd.		62,700		284,324
Liberty Holdings, Ltd.		107,168		1,203,620
Life Healthcare Group Holdings, Ltd.		1,510,419		4,456,709
Massmart Holdings, Ltd.		149,614		1,584,926
Mediclinic International, Ltd.		574,283		5,109,579
MMI Holdings, Ltd.		692,950		1,612,364
Mondi, Ltd.		91,130		2,180,651
Montauk Holdings, Ltd.(1)		6,057		6,225
Mr. Price Group, Ltd.		91,080		1,813,839
MTN Group, Ltd.		1,885,095		31,384,485
Murray & Roberts Holdings, Ltd.		915,850		939,568
Nampak, Ltd.		465,438		1,171,656
Naspers, Ltd., Class N		219,423		30,579,506
Nedbank Group, Ltd.		121,638		2,421,139
Netcare, Ltd.		1,305,994		4,161,496
Northam Platinum, Ltd.(1)		207,738		562,797
Pick’n Pay Stores, Ltd.		371,278		1,736,110
PPC, Ltd.		468,427		833,288
Redefine Properties, Ltd.		2,311,150		2,099,130

19 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
South Africa (continued)
Remgro, Ltd.		270,121	$	5,584,929
Reunert, Ltd.		407,260		2,033,382
RMB Holdings, Ltd.		441,055		2,380,040
RMI Holdings		479,034		1,677,612
Sanlam, Ltd.		991,073		5,235,887
Sappi, Ltd.(1)		415,236		1,364,455
Sasol, Ltd.		469,150		16,195,469
Shoprite Holdings, Ltd.		837,380		11,112,099
Sibanye Gold, Ltd.		800,277		1,042,938
Spar Group, Ltd.		206,544		3,229,830
Standard Bank Group, Ltd.		614,446		7,378,969
Steinhoff International Holdings, Ltd.		787,883		4,763,578
Sun International, Ltd.		30,482		276,187
Telkom SA SOC, Ltd.		309,050		1,501,493
Tiger Brands, Ltd.		202,394		4,549,509
Tongaat-Hulett		99,910		961,755
Truworths International, Ltd.		300,800		2,032,814
Vodacom Group (Pty), Ltd.		613,500		7,092,917
Wilson Bayly Holmes-Ovcon, Ltd.		106,200		800,578
Woolworths Holdings, Ltd.		287,328		2,250,607
			$	246,288,870
South Korea — 6.0%
AMOREPACIFIC Corp.		22,880	$	8,066,078
AMOREPACIFIC Group, Inc.		6,000		1,001,043
Asiana Airlines, Inc.(1)		92,200		469,117
BNK Financial Group, Inc.		130,435		1,533,299
Celltrion, Inc.(1)		70,611		4,679,190
Cheil Worldwide, Inc.(1)		51,100		836,772
CJ CheilJedang Corp.		7,496		2,637,849
CJ Corp.		6,100		1,597,448
CJ Korea Express Co., Ltd.(1)		4,349		639,347
CJ O Shopping Co., Ltd.		3,130		543,459
Coway Co., Ltd.		22,950		1,915,904
Daelim Industrial Co., Ltd.		8,650		551,101
Daesang Corp.		8,000		243,245
Daewoo Engineering & Construction Co., Ltd.(1)		65,741		388,193
Daewoo Industrial Development Co., Ltd.(1)		3,657		4,688
Daewoo International Corp.		21,675		383,485
Daewoo Securities Co., Ltd.		125,693		1,561,188
Daewoo Shipbuilding & Marine Engineering Co., Ltd.		45,532		270,647
Daewoong Pharmaceutical Co., Ltd.		5,630		431,399
Daum Kakao Corp.		5,600		577,738
DGB Financial Group Co., Ltd.		65,650		629,915
Dong-A Pharmaceutical Co., Ltd.		2,407		359,505
Dong-A ST Co., Ltd.		4,078		485,761

Security	Shares		Value
South Korea (continued)
Dongbu Insurance Co., Ltd.		36,640	$	1,741,789
Dongkuk Steel Mill Co., Ltd.(1)		67,733		350,897
Doosan Corp.		6,101		534,575
Doosan Heavy Industries & Construction Co., Ltd.		23,400		401,567
Doosan Infracore Co., Ltd.(1)		34,600		225,242
E-Mart Co., Ltd.		10,328		2,110,991
GS Engineering & Construction Corp.(1)		19,935		446,004
GS Holdings Corp.		55,400		2,157,984
Hana Financial Group, Inc.		151,951		3,791,393
Hanjin Kal Corp.		19,283		467,538
Hanjin Shipping Co., Ltd.(1)		98,091		423,632
Hankook Tire Co., Ltd.		21,623		750,745
Hanmi Pharmaceutical Co., Ltd.(1)		8,096		2,784,814
Hansol Holdings Co., Ltd.(1)		37,566		287,055
Hansol Paper Co., Ltd.(1)		22,933		383,761
Hanwha Chemical Corp.		81,490		1,441,039
Hanwha Corp.		34,490		1,401,881
Hanwha Techwin Co., Ltd.(1)		18,895		615,269
Hite-Jinro Co., Ltd.		20,121		385,356
Hyosung Corp.		21,380		2,608,567
Hyundai Department Store Co., Ltd.		7,615		961,727
Hyundai Development Co.		29,900		1,797,776
Hyundai Engineering & Construction Co., Ltd.		29,816		877,018
Hyundai Glovis Co., Ltd.		13,870		2,315,739
Hyundai Heavy Industries Co., Ltd.(1)		18,270		1,515,434
Hyundai Marine & Fire Insurance Co., Ltd.		38,700		1,050,572
Hyundai Merchant Marine Co., Ltd.(1)		68,800		367,913
Hyundai Mipo Dockyard Co., Ltd.(1)		5,275		244,268
Hyundai Mobis Co., Ltd.		19,100		3,484,536
Hyundai Motor Co.		56,700		7,223,020
Hyundai Securities Co., Ltd.		43,870		322,150
Hyundai Steel Co.		59,452		2,967,871
Hyundai Wia Corp.		5,400		495,056
Industrial Bank of Korea		96,580		1,142,965
Kangwon Land, Inc.		50,840		1,856,983
KB Financial Group, Inc.		180,917		5,684,036
KB Insurance Co., Ltd.		28,900		696,472
KCC Corp.		2,345		980,295
Kia Motors Corp.		86,120		3,230,464
Korea Electric Power Corp.		221,620		9,582,610
Korea Gas Corp.		39,170		1,414,986
Korea Investment Holdings Co., Ltd.		21,590		1,151,784
Korea Zinc Co., Ltd.		8,940		3,777,272
Korean Air Lines Co., Ltd.(1)		28,110		843,335
Korean Reinsurance Co.		78,574		992,326
KT Corp.(1)		69,653		1,819,970

20 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
South Korea (continued)
KT Corp. ADR(1)		16,800	$	219,576
KT&G Corp.		51,115		4,815,591
Kumho Petrochemical Co., Ltd.		12,900		668,486
Kwangju Bank(1)		13,793		89,577
LG Chem, Ltd.		27,318		5,840,692
LG Corp.		50,210		2,492,566
LG Display Co., Ltd.		71,100		1,343,918
LG Electronics, Inc.		39,320		1,363,340
LG Hausys, Ltd.		2,858		433,707
LG Household & Health Care, Ltd.		7,450		5,455,486
LG International Corp.		20,600		508,375
LG Life Sciences, Ltd.(1)		11,000		663,008
LG Uplus Corp.		207,920		2,053,842
Lotte Chemical Corp.		11,770		2,621,093
Lotte Shopping Co., Ltd.		5,065		1,091,532
LS Corp.		7,030		236,062
LS Industrial Systems Co., Ltd.		9,200		411,455
Medy-Tox, Inc.		3,894		1,767,653
Mirae Asset Securities Co., Ltd.		16,464		620,393
Naver Corp.		8,556		3,826,941
NCsoft Corp.		5,150		965,783
NH Investment & Securities Co., Ltd.		78,408		729,080
NHN Entertainment Corp.(1)		4,718		228,757
Nong Shim Co., Ltd.		3,700		983,322
OCI Co., Ltd.		15,570		1,290,758
ORION Corp.		2,200		2,174,720
POSCO		47,127		7,854,693
S-Oil Corp.		36,885		1,982,901
S1 Corp.		9,450		681,656
Samsung C&T Corp.		48,920		2,357,989
Samsung Card Co., Ltd.		20,460		676,475
Samsung Electro-Mechanics Co., Ltd.		17,390		806,489
Samsung Electronics Co., Ltd.		21,658		21,973,255
Samsung Engineering Co., Ltd.(1)		12,600		315,142
Samsung Fine Chemicals Co., Ltd.		18,150		533,835
Samsung Fire & Marine Insurance Co., Ltd.		17,974		4,299,702
Samsung Heavy Industries Co., Ltd.		67,350		795,372
Samsung Life Insurance Co., Ltd.		50,510		4,617,419
Samsung SDI Co., Ltd.		28,662		2,104,633
Samsung Securities Co., Ltd.		34,040		1,533,641
Shinhan Financial Group Co., Ltd.		195,345		6,990,837
Shinsegae Co., Ltd.		5,075		902,262
SK C&C Co., Ltd.		7,100		1,863,319
SK Chemicals Co., Ltd.		15,660		947,327
SK Holdings Co., Ltd.(3)		9,615		1,852,588
SK Hynix, Inc.		162,890		5,144,129

Security	Shares		Value
South Korea (continued)
SK Innovation Co., Ltd.(1)		61,379	$	5,241,392
SK Networks Co., Ltd.		64,010		396,761
SK Telecom Co., Ltd.		35,900		7,704,632
ViroMed Co., Ltd.(1)		9,440		1,419,633
Woori Bank		181,786		1,483,999
Yuanta Securities Korea Co., Ltd.(1)		78,565		366,601
Yuhan Corp.		6,229		1,437,888
Zyle Daewoo Motor Sales Corp.(1)		5,113		5,112
			$	239,098,443
Sri Lanka — 0.8%
Access Engineering PLC		4,510,376	$	923,317
Aitken Spence PLC		550,325		411,755
Ceylon Tobacco Co. PLC		82,568		589,877
Chevron Lubricants Lanka PLC		1,018,398		3,121,271
Commercial Bank of Ceylon PLC		4,472,617		5,717,128
DFCC Bank PLC		293,137		435,963
Dialog Axiata PLC		21,214,477		1,745,760
Distilleries Co. of Sri Lanka PLC		1,818,497		3,924,832
Hatton National Bank PLC (Non-Voting)		1,911,012		3,142,109
John Keells Holdings PLC		6,360,225		9,376,912
National Development Bank PLC		769,896		1,582,382
Nations Trust Bank PLC		623,287		491,855
Sampath Bank PLC		815,537		1,604,879
			$	33,068,040
Taiwan — 5.9%
AcBel Polytech, Inc.		429,000	$	251,920
Acer, Inc.(1)		2,014,519		835,938
Advanced Semiconductor Engineering, Inc.		1,999,135		2,320,847
AirTAC International Group		66,150		304,763
Ambassador Hotel		298,000		250,496
AmTRAN Technology Co., Ltd.		650,067		358,420
Asia Cement Corp.		1,892,356		2,075,515
Asia Optical Co., Inc.(1)		658,907		538,253
Asustek Computer, Inc.		210,325		1,900,788
AU Optronics Corp.		3,273,837		1,051,937
Capital Securities Corp.		711,928		218,526
Catcher Technology Co., Ltd.		226,647		2,498,614
Cathay Financial Holding Co., Ltd.		2,444,533		3,951,075
Center Laboratories, Inc.(1)		395,000		864,812
Chailease Holding Co., Ltd.		425,224		888,618
Chang Hwa Commercial Bank, Ltd.		2,124,502		1,187,451
Cheng Shin Rubber Industry Co., Ltd.		2,060,672		3,980,236
Chicony Electronics Co., Ltd.		335,919		871,960

21 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Taiwan (continued)
China Airlines, Ltd.(1)		2,591,887	$	1,151,914
China Development Financial Holding Corp.		5,396,050		1,776,887
China Life Insurance Co., Ltd.		1,165,652		1,175,576
China Motor Corp.		881,315		640,954
China Petrochemical Development Corp.(1)		3,333,659		913,012
China Steel Corp.		7,563,734		5,412,056
Chipbond Technology Corp.		359,000		539,664
Chong Hong Construction Co., Ltd.		176,190		322,844
Chunghwa Telecom Co., Ltd.		2,915,746		9,065,627
Clevo Co.		394,155		390,604
Compal Electronics, Inc.		1,854,345		1,249,990
Coretronic Corp.		487,128		386,924
CTBC Financial Holding Co., Ltd.		5,099,356		3,698,248
Delta Electronics, Inc.		534,105		2,627,246
Dynapack International Technology Corp.		183,374		296,256
E Ink Holdings, Inc.(1)		1,234,000		483,056
E.Sun Financial Holding Co., Ltd.		3,217,726		1,955,767
Eclat Textile Co., Ltd.		136,240		1,993,102
Elan Microelectronics Corp.		345,300		359,805
Epistar Corp.		526,472		457,968
EVA Airways Corp.(1)		1,654,523		1,194,588
Evergreen International Storage & Transport Corp.		868,000		397,463
Evergreen Marine Corp.		2,373,754		1,139,717
Everlight Electronics Co., Ltd.		406,291		536,931
Far Eastern Department Stores, Ltd.		2,056,995		1,163,076
Far Eastern New Century Corp.		2,564,695		2,416,423
Far EasTone Telecommunications Co., Ltd.		1,673,074		3,914,104
Faraday Technology Corp.		406,880		412,836
Feng Hsin Iron & Steel Co., Ltd.		183,260		210,691
FIH Mobile, Ltd.		1,391,000		726,637
First Financial Holding Co., Ltd.		3,127,244		1,685,948
Formosa Chemicals & Fibre Corp.		2,365,399		5,604,802
Formosa International Hotels Corp.		145,599		1,027,132
Formosa Petrochemical Corp.		1,005,320		2,371,356
Formosa Plastics Corp.		2,953,896		6,552,144
Formosa Taffeta Co., Ltd.		842,000		795,468
Formosan Rubber Group, Inc.		433,000		299,361
Foxconn Technology Co., Ltd.		282,411		857,766
Fubon Financial Holding Co., Ltd.		2,322,596		4,237,393
Giant Manufacturing Co., Ltd.		352,208		2,973,480
Gintech Energy Corp.(1)		788,201		466,272
Great Wall Enterprise Co., Ltd.		930,888		623,026
Highwealth Construction Corp.		339,746		699,060
Hiwin Technologies Corp.		224,000		1,388,436
Hon Hai Precision Industry Co., Ltd.		3,381,069		9,723,386
Hota Industrial Manufacturing Co., Ltd.		298,658		884,731

Security	Shares		Value
Taiwan (continued)
Hotai Motor Co., Ltd.		300,000	$	3,847,592
HTC Corp.(1)		392,798		861,922
Hu Lane Associate, Inc.		181,000		687,939
Hua Nan Financial Holdings Co., Ltd.		3,067,293		1,742,377
Innolux Corp.		2,846,762		989,694
Inventec Corp.		960,966		546,944
Kenda Rubber Industrial Co., Ltd.		222,562		344,175
Kinpo Electronics, Inc.(1)		2,159,000		679,507
Kinsus Interconnect Technology Corp.		182,000		357,709
Largan Precision Co., Ltd.		27,795		2,823,906
Lite-On Technology Corp.		1,024,182		1,125,795
Macronix International Corp., Ltd.(1)		1,202,873		177,362
MediaTek, Inc.		434,462		4,567,136
Medigen Biotechnology Corp.(1)		69,000		214,052
Mega Financial Holding Co., Ltd.		3,248,035		2,775,814
Merida Industry Co., Ltd.		388,657		2,414,337
Motech Industries, Inc.(1)		629,451		875,549
Nan Kang Rubber Tire Co., Ltd.(1)		1,153,253		1,026,143
Nan Ya Plastics Corp.		3,322,214		6,781,440
Neo Solar Power Corp.		685,542		526,702
Novatek Microelectronics Corp., Ltd.		275,942		1,000,968
Pegatron Corp.		564,028		1,585,323
Phison Electronics Corp.		112,363		808,453
Pou Chen Corp.		2,809,819		3,991,124
Powertech Technology, Inc.		547,865		1,027,373
President Chain Store Corp.		619,664		4,506,736
Quanta Computer, Inc.		967,508		1,873,165
Radiant Opto-Electronics Corp.		281,264		837,967
Radium Life Tech Co., Ltd.(1)		621,002		274,555
Realtek Semiconductor Corp.		429,002		843,830
RichTek Technology Corp.		101,478		525,476
Ruentex Development Co., Ltd.		437,306		553,501
Ruentex Industries, Ltd.		1,233,060		2,582,720
Sanyang Motor Co., Ltd.(1)		1,819,866		1,290,930
ScinoPharm Taiwan, Ltd.		227,000		240,932
Shin Kong Financial Holding Co., Ltd.		3,746,630		1,096,990
Shin Kong Synthetic Fibers Corp.		1,321,483		414,015
Siliconware Precision Industries Co., Ltd.		1,104,243		1,253,892
Simplo Technology Co., Ltd.		205,889		847,371
Sino-American Silicon Products, Inc.(1)		576,233		625,798
SinoPac Financial Holdings Co., Ltd.		3,265,908		1,392,611
Solar Applied Materials Technology Corp.		336,245		212,636
St. Shine Optical Co., Ltd.		22,000		286,257
Synnex Technology International Corp.		730,818		880,408
TaiMed Biologics, Inc.(1)		148,103		505,179
Tainan Spinning Co., Ltd.		941,822		435,636

22 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Taiwan (continued)
Taishin Financial Holding Co., Ltd.		3,387,203	$	1,341,583
Taiwan Building Materials Co., Ltd.		1,672,928		477,590
Taiwan Business Bank(1)		2,014,650		587,412
Taiwan Cement Corp.		2,185,850		2,366,427
Taiwan Cooperative Financial Holding Co., Ltd.		3,174,348		1,593,204
Taiwan Fertilizer Co., Ltd.		816,000		1,196,031
Taiwan Glass Industry Corp.(1)		542,564		245,206
Taiwan Mobile Co., Ltd.		1,805,784		5,971,969
Taiwan Semiconductor Manufacturing Co., Ltd.		4,915,465		21,480,625
Taiwan Tea Corp.		395,711		172,935
Tatung Co., Ltd.(1)		2,377,785		438,374
Teco Electric & Machinery Co., Ltd.		2,247,000		1,764,803
Tong Yang Industry Co., Ltd.		758,608		808,383
TPK Holding Co., Ltd.		155,148		530,659
Tripod Technology Corp.		396,535		623,975
TSRC Corp.		693,063		481,922
TTY Biopharm Co., Ltd.		534,330		1,537,767
Tung Ho Steel Enterprise Corp.		991,060		615,596
U-Ming Marine Transport Corp.		186,000		238,546
Uni-President Enterprises Corp.		4,043,107		7,113,685
Unimicron Technology Corp.		948,000		447,659
United Microelectronics Corp.		3,427,090		1,224,973
Walsin Lihwa Corp.(1)		2,539,000		562,111
Wan Hai Lines, Ltd.		518,962		435,317
Waterland Financial Holdings		1,085,795		285,842
Wei Chuan Food Corp.(1)		623,000		425,014
Wintek Corp.(3)		1,892,877		0
Wistron Corp.		1,490,362		975,314
WPG Holdings Co., Ltd.		919,489		1,044,823
Xxentria Technology Materials Corp.		234,700		639,993
Yageo Corp.		166,897		238,204
Yang Ming Marine Transport(1)		2,468,755		849,326
YFY, Inc.		899,120		292,057
Yieh Phui Enterprise		1,721,304		441,874
Yuanta Financial Holding Co., Ltd.		3,712,261		1,764,244
Yulon Motor Co., Ltd.		1,342,809		1,310,466
			$	235,333,746
Thailand — 2.9%
Advanced Info Service PCL(7)		1,322,600	$	9,379,296
Airports of Thailand PCL(7)		667,400		5,560,375
AP Thailand PCL(7)		5,199,700		870,599
Bangkok Bank PCL(7)		276,400		1,300,438
Bangkok Dusit Medical Services PCL(7)		5,594,000		3,188,245
Bangkok Land PCL(7)		13,071,100		541,459
Banpu PCL(7)		1,468,000		1,041,195

Security	Shares		Value
Thailand (continued)
BEC World PCL(7)		1,752,100	$	1,789,160
Berli Jucker PCL(7)		1,563,300		1,472,028
Big C Supercenter PCL(7)		268,600		1,398,949
BTS Group Holdings PCL		6,774,200		1,893,576
Bumrungrad Hospital PCL(7)		899,500		5,206,288
Central Pattana PCL(7)		1,102,100		1,477,874
CH. Karnchang PCL(7)		1,970,620		1,453,600
Charoen Pokphand Foods PCL(7)		4,351,000		2,581,452
CP ALL PCL(7)		2,790,200		3,798,433
Delta Electronics (Thailand) PCL(7)		1,345,400		3,074,956
Electricity Generating PCL(7)		413,800		1,802,446
Glow Energy PCL(7)		877,300		2,219,747
Hana Microelectronics PCL(7)		1,730,900		1,595,618
Home Product Center PCL(7)		3,521,555		624,063
Indorama Ventures PCL(7)		2,106,900		1,584,142
IRPC PCL(7)		12,191,400		1,452,078
Italian-Thai Development PCL(1)(7)		9,648,906		2,012,163
Jasmine International PCL(7)		1,976,800		280,437
Kasikornbank PCL(7)		408,800		2,068,468
Khon Kaen Sugar Industry PCL(7)		4,396,800		496,511
Kiatnakin Bank PCL(7)		1,074,300		929,699
Krung Thai Bank PCL(7)		1,231,400		611,538
L.P.N. Development PCL(7)		1,255,000		630,325
Land & Houses PCL(7)		2,593,500		584,927
Minor International PCL(7)		2,813,577		2,334,420
Pruksa Real Estate PCL(7)		1,602,000		1,095,187
PTT Exploration & Production PCL(7)		1,579,798		4,185,352
PTT Global Chemical PCL(7)		1,844,950		3,231,678
PTT PCL(7)		713,560		6,594,861
Quality House PCL(7)		13,198,646		869,059
Ratchaburi Electricity Generating Holding PCL(7)		676,000		1,031,057
Samart Corp. PCL(7)		2,188,100		1,278,022
Siam Cement PCL(7)		357,600		5,378,815
Siam City Cement PCL(7)		97,390		1,011,108
Siam Commercial Bank PCL(7)		535,300		2,307,699
Sino Thai Engineering & Construction PCL(7)		2,449,157		1,605,445
Thai Airways International PCL(1)(7)		2,173,900		770,709
Thai Beverage PCL		9,995,000		5,498,827
Thai Oil PCL(7)		1,094,800		1,497,271
Thai Union Frozen Products PCL(7)		4,345,208		2,332,341
Thanachart Capital PCL(7)		1,128,900		1,001,344
Thoresen Thai Agencies PCL(7)		2,584,565		924,055
TMB Bank PCL(7)		16,643,600		1,105,153
Total Access Communication PCL(7)		1,130,500		2,253,973
TPI Polene PCL(7)		18,986,000		1,249,752
True Corp. PCL(1)(7)		14,572,601		4,465,028

23 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Thailand (continued)
TTCL PCL		224,200	$	189,377
TTW PCL(7)		3,598,200		1,173,764
			$	116,304,382
Turkey — 3.1%
Akbank TAS		1,842,533	$	4,918,996
Akcansa Cimento AS		126,800		717,727
Akenerji Elektrik Uretim AS(1)		598,472		209,069
Aksa Akrilik Kimya Sanayii AS		322,613		1,287,761
Aksa Enerji Uretim AS(1)		600,923		640,885
Albaraka Turk Katilim Bankasi AS		522,467		263,646
Anadolu Efes Biracilik ve Malt Sanayii AS		395,839		3,104,645
Arcelik AS		998,054		5,253,475
Aygaz AS		279,132		1,053,427
Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS(1)		592,900		438,475
BIM Birlesik Magazalar AS		424,306		7,190,959
Brisa Bridgestone Sabanci Sanayi ve Ticaret AS		69,682		207,450
Cimsa Cimento Sanayi ve Ticaret AS		141,400		806,566
Coca-Cola Icecek AS		159,495		2,289,558
Dogan Sirketler Grubu Holding AS(1)		1,732,915		342,937
Dogus Otomotiv Servis ve Ticaret AS		111,778		646,771
Eczacibasi Ilac Sanayi ve Ticaret AS		255,200		247,008
Emlak Konut Gayrimenkul Yatirim Ortakligi AS		1,976,700		1,850,408
Enka Insaat ve Sanayi AS		1,307,393		2,365,726
Eregli Demir ve Celik Fabrikalari TAS		4,877,751		7,304,757
Ford Otomotiv Sanayi AS		296,400		3,518,638
Goodyear Lastikleri TAS		18,000		383,371
Gubre Fabrikalari TAS		490,400		1,350,319
Haci Omer Sabanci Holding AS		1,437,018		4,908,915
Ihlas Holding AS(1)		4,223,700		366,173
Is Gayrimenkul Yatirim Ortakligi AS		655,591		363,701
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D		2,655,090		1,415,316
KOC Holding AS		921,460		4,086,847
Koza Altin Isletmeleri AS		152,600		1,284,002
Koza Anadolu Metal Madencilik Isletmeleri AS(1)		780,100		729,528
Migros Ticaret AS(1)		75,000		557,464
Net Holding AS(1)		325,363		384,869
Pegasus Hava Tasimaciligi AS(1)		86,600		761,034
Petkim Petrokimya Holding AS(1)		1,455,661		2,181,578
Sekerbank TAS(1)		765,199		432,821
TAV Havalimanlari Holding AS		201,088		1,527,683
Tekfen Holding AS		497,173		755,591
Teknosa Ic Ve Dis Ticaret AS		164,600		428,013
Tofas Turk Otomobil Fabrikasi AS		507,400		3,323,308
Trakya Cam Sanayii AS		1,044,657		771,110

Security	Shares		Value
Turkey (continued)
Tupras-Turkiye Petrol Rafinerileri AS(1)		442,250	$	11,477,863
Turcas Petrol AS		474,910		277,518
Turk Hava Yollari Anonim Ortakligi AS(1)		774,945		2,520,451
Turk Sise ve Cam Fabrikalari AS		929,159		1,048,728
Turk Telekomunikasyon AS		1,688,424		4,191,551
Turkcell Iletisim Hizmetleri AS		2,633,952		12,054,934
Turkiye Garanti Bankasi AS		2,409,882		7,108,302
Turkiye Halk Bankasi AS		624,600		2,717,782
Turkiye Is Bankasi		1,572,912		3,058,660
Turkiye Sinai Kalkinma Bankasi AS		641,660		403,801
Turkiye Vakiflar Bankasi TAO		1,413,300		2,127,075
Ulker Biskuvi Sanayi AS		353,959		1,967,553
Vestel Elektronik Sanayi ve Ticaret AS(1)		368,100		607,016
Yapi ve Kredi Bankasi AS		953,085		1,306,992
Yazicilar Holding AS		193,900		1,389,453
Zorlu Enerji Elektrik Uretim AS(1)		692,954		422,620
			$	123,350,826
Ukraine — 0.3%
Astarta Holding NV(1)		194,791	$	1,844,693
Avangardco Investments Public, Ltd. GDR(5)		138,412		145,248
Ferrexpo PLC		2,332,085		2,103,049
Kernel Holding SA		408,822		4,735,996
MHP SA GDR(5)		300,561		2,997,110
			$	11,826,096
United Arab Emirates — 1.7%
Abu Dhabi Commercial Bank (PJSC)		2,281,264	$	5,129,316
Abu Dhabi National Hotels		718,461		567,296
Agthia Group (PJSC)		1,252,100		2,643,919
Air Arabia (PJSC)		7,103,683		3,096,968
Ajman Bank (PJSC)(1)		744,975		392,762
Al Waha Capital PJSC		2,092,394		1,412,732
Aldar Properties PJSC		4,132,498		3,010,478
Arabtec Holding (PJSC)(1)		6,821,504		4,414,545
Dana Gas (PJSC)(1)		5,241,906		782,796
DP World, Ltd.		507,613		11,542,075
Drake & Scull International (PJSC)(1)		3,823,093		833,457
Dubai Financial Market (PJSC)		1,928,561		1,011,647
Dubai Investments (PJSC)		1,767,836		1,399,168
Dubai Islamic Bank (PJSC)		1,313,689		2,676,503
Emaar Properties (PJSC)		4,449,009		9,538,288
First Gulf Bank (PJSC)		1,580,964		6,663,276
Gulf Pharmaceutical Industries		128,551		89,650
National Bank of Abu Dhabi (PJSC)		2,090,616		6,086,149

24 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
United Arab Emirates (continued)
National Bank of Ras Al-Khaimah PSC (The)		62,608	$	130,104
National Central Cooling Co. (Tabreed)		828,054		333,539
Ras Al Khaimah Ceramics		334,915		321,375
Ras Al Khaimah Properties (PJSC)		2,150,800		384,036
Union National Bank PJSC		1,992,209		3,821,487
			$	66,281,566
Vietnam — 0.7%
Bank for Foreign Trade of Vietnam JSC		1,556,456	$	3,559,233
Bao Viet Holdings		307,150		739,701
Development Investment Construction Corp.(1)		276,167		151,803
FPT Corp.		503,196		1,091,000
Gemadept Corp.		312,000		490,619
HAGL JSC(1)		1,155,511		916,438
HCM City Infrastructure Investment JSC		291,080		347,071
Hoa Phat Group JSC		2,137,846		3,181,176
Kim Long Securities Corp.		824,100		328,101
Kinh Bac City Development Share Holding Corp.(1)		328,860		239,624
Kinh Do Corp.		633,520		1,406,135
Masan Group Corp.(1)		272,520		1,123,489
PetroVietnam Construction JSC(1)		919,725		152,038
PetroVietnam Drilling and Well Services JSC		739,369		1,483,352
PetroVietnam Fertilizer & Chemical JSC		880,500		1,271,626
PetroVietnam Gas JSC		166,550		449,652
PetroVietnam Technical Services JSC		1,236,400		1,460,441
Pha Lai Thermal Power JSC		483,390		485,428
Phu Nhuan Jewelry JSC		235,560		395,760
Refrigeration Electrical Engineering Corp.		896,580		1,199,693
Saigon Securities, Inc.		180,000		224,369
Tan Tao Investment & Industry JSC(1)		1,554,838		448,848
Vietnam Construction and Import-Export JSC		621,655		353,525
Vietnam Dairy Products JSC		563,742		3,101,258
Vietnam Joint Stock Commercial Bank for Industry and Trade		1,810,143		1,868,064
Vingroup JSC		1,565,455		3,097,372
			$	29,565,816
Total Common Stocks (identified cost $4,285,377,269)			$	3,943,340,060

Equity-Linked Securities(6)(8) — 0.9%
Security	Maturity Date		Shares		Value
Saudi Arabia — 0.9%
Abdullah Al Othaim Markets		7/31/17		36,000	$	1,046,372
Al Abdullatif Industrial Investment Co.		4/30/18		64,200		689,919
Al Rajhi Bank		1/22/18		149,493		2,591,147
Al Tayyar		3/5/18		70,167		1,899,133
Alinma Bank		1/22/18		250,600		1,503,550
Almarai Co.		7/31/17		59,399		1,488,895
Arab National Bank		5/12/17		70,000		621,586
Bank Albilad		3/5/18		103,957		948,067
Banque Saudi Fransi		1/22/18		100,840		892,747
Dar Al Arkan Real Estate Development		7/20/18		185,500		430,341
Etihad Etisalat Co.(3)		11/20/17		134,038		966,414
Fawaz Abdulaziz Alhokair Co.		3/20/17		60,000		1,515,960
Jarir Marketing Co.		1/22/18		25,425		1,452,576
Mobile Telecommunications Co.		4/30/18		123,207		415,602
National Industrialization Co.		10/31/16		156,903		765,671
Rabigh Refining and Petrochemicals Co.		7/24/17		92,400		591,342
Riyad Bank		11/20/17		161,200		689,920
Sahara Petrochemical Co.		9/21/15		122,800		443,701
Samba Financial Group		6/29/17		182,240		1,287,799
Saudi Airlines Catering Co.		5/28/18		5,500		233,927
Saudi Arabian Amiantit Co.		4/30/18		106,500		377,713
Saudi Arabian Fertilizer Co.		7/31/17		35,791		1,111,876
Saudi Arabian Mining Co.		4/30/18		54,900		594,369
Saudi Basic Industries Corp.		1/22/18		107,696		2,764,126
Saudi British Bank		1/22/18		93,450		829,817
Saudi Cable Co.		7/20/18		97,900		231,034
Saudi Cement Co.		7/20/18		25,900		607,769
Saudi Chemical Co.		4/23/18		25,900		480,000
Saudi Electricity Co.		1/22/18		268,400		1,299,029
Saudi Industrial Investment Group		10/9/17		95,000		673,845
Saudi International Petrochemicals Co.		1/22/18		40,200		307,655
Saudi Kayan Petrochemical Co.		1/22/18		247,500		719,383
Saudi Telecom Co.		4/23/18		98,200		1,780,641
Savola Group		2/6/17		115,300		2,090,712
Yanbu National Petrochemical Co.		7/31/17		51,400		705,876
Total Equity-Linked Securities (identified cost $35,473,516)					$	35,048,514

25 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Investment Funds — 0.1%
Security	Shares		Value
Vietnam Enterprise Investments, Ltd.(1)		739,727	$	2,219,181
Total Investment Funds (identified cost $2,471,779)			$	2,219,181
Warrants(1) — 0.0%(2)
Security	Shares		Value
Italian-Thai Development PCL, Exp. 5/13/19, Strike THB 14.00		1,929,781	$	90,343
Jasmine International PCL, Exp. 7/5/20, Strike THB 4.30		969,020		39,041
Samart Corp. PCL, Exp. 2/19/18, Strike THB 45.00		437,620		24,461
Thoresen Thai Agencies PCL, Exp. 2/28/19, Strike THB 18.50		246,149		16,482
Total Warrants (identified cost $0)			$	170,327
Short-Term Investments — 0.0%(2)
Description	Principal Amount (000’s omitted)		Value
State Street Bank and Trust Euro Time Deposit, 0.01%, 8/3/15	$	68	$	67,602
Total Short-Term Investments (identified cost $67,602)			$	67,602
Total Investments — 100.2% (identified cost $4,323,390,166)			$	3,980,845,684
Other Assets, Less Liabilities — (0.2)%			$	(6,220,549	)
Net Assets — 100.0%			$	3,974,625,135

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.
PDR	–	Philippine Deposit Receipt
PFC Shares	–	Preference Shares
THB	–	Thai Baht

⁽¹⁾  Non-income producing security.

⁽²⁾  Amount is less than 0.05%.

⁽³⁾  For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 10).

⁽⁴⁾  Trading of securities on the Athens Stock Exchange was suspended on June 29, 2015. As of July 31, 2015, the Fund’s holdings in Greek equity securities were fair valued by management based on other available observable inputs.

⁽⁵⁾  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, 2015, the aggregate value of these securities is $77,968,335 or 2.0% of the Fund’s net assets.

⁽⁶⁾  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, 2015, the aggregate value of these securities is $36,582,703 or 0.9% of the Fund’s net assets.

⁽⁷⁾  Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits.

⁽⁸⁾  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.

Currency Concentration of Portfolio
Currency	Percentage of Net Assets			Value
United States Dollar		10.3	%	$	407,887,523
Hong Kong Dollar		7.8			310,816,362
South African Rand		6.2			246,272,135
Indian Rupee		6.1			242,510,297
South Korean Won		6.0			238,878,867
New Taiwan Dollar		5.9			234,607,109
Brazilian Real		5.6			222,513,608
Mexican Peso		5.2			207,544,372
Polish Zloty		3.3			131,657,183
New Turkish Lira		3.1			123,350,826
Philippine Peso		3.0			120,647,871
Malaysian Ringgit		3.0			118,213,553
Chilean Peso		3.0			117,911,903
Indonesian Rupiah		2.8			111,887,483
Thai Baht		2.8			110,975,882
Euro		2.2			86,686,483
Kuwaiti Dinar		2.1			82,189,610
Russian Ruble		1.8			72,010,292
United Arab Emirates Dirham		1.7			68,159,560
Egyptian Pound		1.6			62,544,313
Qatari Riyal		1.6			62,194,646
Hungarian Forint		1.6			61,683,203
Czech Koruna		1.3			52,169,895
Colombian Peso		1.2			48,961,821
Other currency, less than 1% each		11.0			438,570,887
Total Investments		100.2	%	$	3,980,845,684

26 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Sector Classification of Portfolio
Sector	Percentage of Net Assets			Value
Financials		23.4	%	$	929,596,903
Telecommunication Services		10.9			431,764,730
Industrials		10.6			420,200,564
Consumer Staples		10.3			408,530,706
Materials		9.7			387,675,168
Energy		9.6			382,807,050
Consumer Discretionary		9.0			356,165,253
Information Technology		6.9			273,085,680
Utilities		5.8			232,033,252
Health Care		3.9			156,699,595
Investment Funds		0.1			2,219,181
Short-Term Investments		0.0	(1)		67,602
Total Investments		100.2	%	$	3,980,845,684

⁽¹⁾  Amount is less than 0.05%.

27 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Statement of Assets and Liabilities (Unaudited)

Assets	July 31, 2015
Investments, at value (identified cost, $4,323,390,166)	$	3,980,845,684
Cash		78,758
Foreign currency, at value (identified cost, $19,720,697)		19,675,626
Dividends and interest receivable		13,012,049
Receivable for investments sold		4,545,907
Receivable for Fund shares sold		5,986,270
Tax reclaims receivable		1,323,042
Total assets	$	4,025,467,336
Liabilities
Demand note payable	$	35,500,000
Payable for Fund shares redeemed		9,284,421
Payable to affiliates:
Investment adviser fee		2,747,346
Administration fee		530,360
Distribution and service fees		152,531
Accrued foreign capital gains taxes		1,738,225
Accrued expenses		889,318
Total liabilities	$	50,842,201
Net Assets	$	3,974,625,135
Sources of Net Assets
Paid-in capital	$	4,287,371,750
Accumulated distributions in excess of net realized gain		(6,719,252	)
Accumulated undistributed net investment income		38,801,110
Net unrealized depreciation		(344,828,473	)
Total	$	3,974,625,135
Investor Class Shares
Net Assets	$	636,776,680
Shares Outstanding		48,523,442
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	13.12
Class C Shares
Net Assets	$	13,748,439
Shares Outstanding		1,057,913
Net Asset Value and Offering Price Per Share*
(net assets ÷ shares of beneficial interest outstanding)	$	13.00
Institutional Class Shares
Net Assets	$	2,701,067,499
Shares Outstanding		205,109,727
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	13.17
Class R6 Shares
Net Assets	$	623,032,517
Shares Outstanding		47,293,277
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	13.17

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

28 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Statement of Operations (Unaudited)

Investment Income	Six Months Ended July 31, 2015
Dividends (net of foreign taxes, $9,666,075)	$	82,509,626
Interest		903
Total investment income	$	82,510,529
Expenses
Investment adviser fee	$	17,342,130
Administration fee		3,356,851
Distribution and service fees
Investor Class		837,608
Class C		76,176
Trustees’ fees and expenses		34,000
Custodian fee		2,300,051
Transfer and dividend disbursing agent fees		982,008
Legal and accounting services		78,345
Printing and postage		110,400
Registration fees		173,982
Miscellaneous		135,657
Total expenses	$	25,427,208
Deduct —
Reduction of custodian fee	$	44
Total expense reductions	$	44
Net expenses	$	25,427,164
Net investment income	$	57,083,365
Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions (net of foreign capital gains taxes of $1,009,797)	$	802,833
Foreign currency transactions		(1,846,778	)
Net realized loss	$	(1,043,945	)
Change in unrealized appreciation (depreciation) —
Investments (including net increase of $295,921 in accrued foreign capital gains taxes)	$	(210,027,492	)
Foreign currency		(153,875	)
Net change in unrealized appreciation (depreciation)	$	(210,181,367	)
Net realized and unrealized loss	$	(211,225,312	)
Net decrease in net assets from operations	$	(154,141,947	)

29 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
From operations —
Net investment income	$	57,083,365		$	70,454,043
Net realized gain (loss) from investment and foreign currency transactions		(1,043,945	)		124,615,509
Net change in unrealized appreciation (depreciation) from investments and foreign currency		(210,181,367	)		(223,186,051	)
Net decrease in net assets from operations	$	(154,141,947	)	$	(28,116,499	)
Distributions to shareholders —
From net investment income
Investor Class	$	(774,640	)	$	(7,624,891	)
Class C		(3,739	)		(62,696	)
Institutional Class		(4,129,899	)		(53,005,889	)
Class R6		(895,569	)		(8,251,614	)
From net realized gain
Investor Class		(8,843,802	)		(3,278,070	)
Class C		(190,277	)		(91,108	)
Institutional Class		(39,758,650	)		(18,387,380	)
Class R6		(8,307,331	)		(2,812,144	)
Total distributions to shareholders	$	(62,903,907	)	$	(93,513,792	)
Transactions in shares of beneficial interest —
Proceeds from sale of shares
Investor Class	$	203,981,050		$	197,861,864
Class C		209,070			897,819
Institutional Class		368,379,227			1,330,896,984
Class R6		76,186,375			666,535,564
Net asset value of shares issued to shareholders in payment of distributions declared
Investor Class		9,380,760			9,748,494
Class C		162,399			129,392
Institutional Class		35,113,761			55,872,880
Class R6		8,856,322			10,865,403
Cost of shares redeemed
Investor Class		(142,202,307	)		(362,395,741	)
Class C		(1,837,288	)		(4,832,577	)
Institutional Class		(782,767,381	)		(1,504,658,092	)
Class R6		(20,116,206	)		(11,403,828	)
Net increase (decrease) in net assets from Fund share transactions	$	(244,654,218	)	$	389,518,162
Net increase (decrease) in net assets	$	(461,700,072	)	$	267,887,871
Net Assets
At beginning of period	$	4,436,325,207		$	4,168,437,336
At end of period	$	3,974,625,135		$	4,436,325,207
Accumulated undistributed (distributions in excess of) net investment income included in net assets
At end of period	$	38,801,110		$	(12,478,408	)

30 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Financial Highlights

	Investor Class
	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31,									Period Ended January 31, 2012(1)			Year Ended October 31,
				2015			2014			2013						2011			2010
Net asset value — Beginning of period	$	13.850		$	14.070		$	15.260		$	13.940		$	13.750		$	15.540		$	12.440
Income (Loss) From Operations
Net investment income (loss)(2)	$	0.166		$	0.204		$	0.201		$	0.173		$	(0.014	)	$	0.201		$	0.105
Net realized and unrealized gain (loss)		(0.702	)		(0.166	)		(1.204	)		1.339			0.328			(1.826	)		3.082
Total income (loss) from operations	$	(0.536	)	$	0.038		$	(1.003	)	$	1.512		$	0.314		$	(1.625	)	$	3.187
Less Distributions
From net investment income	$	(0.016	)	$	(0.180	)	$	(0.187	)	$	(0.181	)	$	(0.124	)	$	(0.165	)	$	(0.089	)
From net realized gain		(0.178	)		(0.078	)		—			—			—			—			—
Tax return of capital		—			—			—			(0.011	)		—			—			—
Total distributions	$	(0.194	)	$	(0.258	)	$	(0.187	)	$	(0.192	)	$	(0.124	)	$	(0.165	)	$	(0.089	)
Redemption fees(2)(3)	$	—		$	—		$	—		$	—		$	—		$	0.000	(4)	$	0.002
Net asset value — End of period	$	13.120		$	13.850		$	14.070		$	15.260		$	13.940		$	13.750		$	15.540
Total Return(5)		(4.01	)%(6)		0.25	%		(6.62	)%		10.89	%		2.38	%(6)		(10.59	)%		25.77	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	636,777		$	599,094		$	755,768		$	738,776		$	493,567		$	481,194		$	267,040
Ratios (as a percentage of average daily net assets):
Expenses(7)		1.35	%(8)		1.36	%		1.38	%		1.42	%		1.45	%(8)		1.45	%		1.51	%
Net investment income (loss)		2.38	%(8)		1.34	%		1.36	%		1.22	%		(0.43	)%(8)		1.33	%		0.77	%
Portfolio Turnover		5	%(6)		9	%		7	%		3	%		0	%(6)(9)		3	%		8	%

⁽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 applicable, which were eliminated effective March 1, 2013.

⁽⁶⁾ Not annualized.

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

⁽⁸⁾ Annualized.

⁽⁹⁾  Amount is less than 0.5%.

31 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Financial Highlights — continued

	Class C
	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31,									Period Ended January 31, 2012(1)			Year Ended October 31,
				2015			2014			2013						2011			2010
Net asset value — Beginning of period	$	13.760		$	13.960		$	15.130		$	13.820		$	13.530		$	15.310		$	12.280
Income (Loss) From Operations
Net investment income (loss)(2)	$	0.109		$	0.094		$	0.091		$	0.095		$	(0.038	)	$	0.074		$	0.020
Net realized and unrealized gain (loss)		(0.687	)		(0.163	)		(1.188	)		1.294			0.333			(1.792	)		3.032
Total income (loss) from operations	$	(0.578	)	$	(0.069	)	$	(1.097	)	$	1.389		$	0.295		$	(1.718	)	$	3.052
Less Distributions
From net investment income	$	(0.004	)	$	(0.053	)	$	(0.073	)	$	(0.075	)	$	(0.005	)	$	(0.062	)	$	(0.024	)
From net realized gain		(0.178	)		(0.078	)		—			—			—			—			—
Tax return of capital		—			—			—			(0.004	)		—			—			—
Total distributions	$	(0.182	)	$	(0.131	)	$	(0.073	)	$	(0.079	)	$	(0.005	)	$	(0.062	)	$	(0.024	)
Redemption fees(2)(3)	$	—		$	—		$	—		$	—		$	—		$	0.000	(4)	$	0.002
Net asset value — End of period	$	13.000		$	13.760		$	13.960		$	15.130		$	13.820		$	13.530		$	15.310
Total Return(5)		(4.33	)%(6)		(0.51	)%		(7.27	)%		10.07	%		2.18	%(6)		(11.27	)%		24.91	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	13,748		$	15,996		$	19,779		$	23,348		$	22,646		$	22,866		$	22,800
Ratios (as a percentage of average daily net assets):
Expenses(7)		2.10	%(8)		2.11	%		2.13	%		2.16	%		2.19	%(8)		2.19	%		2.26	%
Net investment income (loss)		1.56	%(8)		0.63	%		0.63	%		0.68	%		(1.18	)%(8)		0.49	%		0.15	%
Portfolio Turnover		5	%(6)		9	%		7	%		3	%		0	%(6)(9)		3	%		8	%

⁽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⁾  Amount is less than 0.5%.

32 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Financial Highlights — continued

	Institutional Class
	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31,									Period Ended January 31, 2012(1)			Year Ended October 31,
				2015			2014			2013						2011			2010
Net asset value — Beginning of period	$	13.890		$	14.110		$	15.310		$	13.970		$	13.810		$	15.580		$	12.460
Income (Loss) From Operations
Net investment income (loss)(2)	$	0.181		$	0.243		$	0.224		$	0.222		$	(0.006	)	$	0.233		$	0.163
Net realized and unrealized gain (loss)		(0.704	)		(0.162	)		(1.197	)		1.339			0.322			(1.821	)		3.071
Total income (loss) from operations	$	(0.523	)	$	0.081		$	(0.973	)	$	1.561		$	0.316		$	(1.588	)	$	3.234
Less Distributions
From net investment income	$	(0.019	)	$	(0.223	)	$	(0.227	)	$	(0.209	)	$	(0.156	)	$	(0.182	)	$	(0.116	)
From net realized gain		(0.178	)		(0.078	)		—			—			—			—			—
Tax return of capital		—			—			—			(0.012	)		—			—			—
Total distributions	$	(0.197	)	$	(0.301	)	$	(0.227	)	$	(0.221	)	$	(0.156	)	$	(0.182	)	$	(0.116	)
Redemption fees(2)(3)	$	—		$	—		$	—		$	—		$	—		$	0.000	(4)	$	0.002
Net asset value — End of period	$	13.170		$	13.890		$	14.110		$	15.310		$	13.970		$	13.810		$	15.580
Total Return(5)		(3.91	)%(6)		0.55	%		(6.42	)%		11.22	%		2.41	%(6)		(10.39	)%		26.22	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	2,701,067		$	3,227,614		$	3,392,890		$	2,739,147		$	1,988,618		$	1,845,906		$	1,623,796
Ratios (as a percentage of average daily net assets):
Expenses(7)		1.10	%(8)		1.11	%		1.13	%		1.16	%		1.20	%(8)		1.20	%		1.26	%
Net investment income (loss)		2.57	%(8)		1.59	%		1.52	%		1.56	%		(0.18	)%(8)		1.53	%		1.19	%
Portfolio Turnover		5	%(6)		9	%		7	%		3	%		0	%(6)(9)		3	%		8	%

⁽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⁾  Amount is less than 0.5%.

33 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Financial Highlights — continued

	Class R6
	Six Months Ended July 31, 2015 (Unaudited)			Period Ended January 31, 2015(1)
Net asset value — Beginning of period	$	13.890		$	16.010
Income (Loss) From Operations
Net investment income(2)	$	0.187		$	0.027
Net realized and unrealized loss		(0.710	)		(1.842	)
Total loss from operations	$	(0.523	)	$	(1.815	)
Less Distributions
From net investment income	$	(0.019	)	$	(0.227	)
From net realized gain		(0.178	)		(0.078	)
Total distributions	$	(0.197	)	$	(0.305	)
Net asset value — End of period	$	13.170		$	13.890
Total Return(3)		(3.90	)%(4)		(11.36	)%(4)
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	623,033		$	593,622
Ratios (as a percentage of average daily net assets):
Expenses(5)		1.06	%(6)		1.07	%(6)
Net investment income		2.66	%(6)		0.31	%(6)
Portfolio Turnover		5	%(4)		9	%(7)

⁽¹⁾  For the period from the commencement of operations, July 1, 2014, to January 31, 2015.

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

⁽⁶⁾  Annualized.

⁽⁷⁾  For the Fund’s year ended January 31, 2015.

34 See Notes to Financial Statements.

Parametric Emerging Markets Fund

July 31, 2015

Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies

Parametric 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 four classes of shares. Investor Class, Institutional Class and Class R6 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). 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. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer and dividend disbursing agent fees on the Statement of Operations, are not allocated to Class R6 shares. 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 (U.S. GAAP). The Fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946.

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

Equity Securities.  Equity securities 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. Equity-linked securities are generally valued based on the value of the underlying equity security or instrument.

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, interest rates, anticipated prepayments, 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.

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.

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, 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.

D  Federal and Other 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.

35

Parametric Emerging Markets Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

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, 2015, 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.

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  Equity-Linked Securities — Equity-linked securities are primarily used as an alternative means to more efficiently and effectively access the securities markets of emerging market countries and may also be known as participation notes, equity swaps, and zero strike calls and warrants. Equity-linked securities are privately issued securities whose investment results are designed to correspond generally to the performance of a specified stock index or “basket” of stocks, or a single stock. The Fund deposits an amount of cash with its custodian (or broker, if legally permitted) in an amount near or equal to the selling price of the underlying security in exchange for an equity-linked security. Upon sale, the Fund receives cash from the broker or custodian equal to the current value of the underlying security, less transactional costs. Aside from market risk of the underlying security, there is the risk that the issuer of an equity-linked security may default on its obligation under the security. In addition, the Fund may be unable to close out such a transaction with the other party or obtain an offsetting position with any other party, at any time prior to the end of the term of the underlying agreement. Income received on equity-linked securities is recorded as dividend income.

I  Use of Estimates — The preparation of the financial statements in conformity with U.S. GAAP 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.

J  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.

K  Interim Financial Statements — The interim financial statements relating to July 31, 2015 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 and Income Tax Information

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. Distributions to shareholders are determined in accordance with income tax regulations, which may differ from U.S. GAAP. As required by U.S. GAAP, only distributions in excess of tax basis earnings and profits are 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.

36

Parametric Emerging Markets Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2015, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	4,347,329,953
Gross unrealized appreciation	$	659,613,234
Gross unrealized depreciation		(1,026,097,503	)
Net unrealized depreciation	$	(366,484,269	)

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. Pursuant to the investment advisory agreement and subsequent fee reduction agreement between the Fund and EVM effective May 1, 2015, 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, 0.73% on net assets of $5 billion but less than $7.5 billion and 0.71% on net assets of $7.5 billion and over, and is payable monthly. Prior to May 1, 2015, the annual rate on the Fund’s average daily net assets of $5 billion and over was 0.73%. The fee reduction cannot be terminated or reduced without the approval of a majority vote of the Trustees of the Fund who are not interested persons of EVM or the Fund and by the vote of a majority of shareholders. For the six months ended July 31, 2015, the investment adviser fee amounted to $17,342,130 or 0.77% (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, 2015, the administration fee amounted to $3,356,851.

EVM provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended July 31, 2015, EVM earned $20,519 from the Fund pursuant to such agreement, which is included in transfer and dividend disbursing agent fees on the Statement of Operations. Eaton Vance Distributors, Inc. (EVD), an affiliate of EVM and the Fund’s principal underwriter, 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, 2015, 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, 2015 amounted to $837,608 for Investor Class shares.

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, 2015, the Fund paid or accrued to EVD $57,132 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. 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, 2015 amounted to $19,044 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. 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. For the six months ended July 31, 2015, the Fund was informed that EVD received approximately $200 of CDSCs paid by Class C shareholders.

37

Parametric Emerging Markets Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

6  Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $226,430,723 and $438,707,892, respectively, for the six months ended July 31, 2015.

7  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:

Investor Class	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
Sales		14,615,755			13,143,124
Issued to shareholders electing to receive payments of distributions in Fund shares		644,726			694,832
Redemptions		(9,980,982	)		(24,293,071	)
Net increase (decrease)		5,279,499			(10,455,115	)
Class C	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
Sales		14,781			59,440
Issued to shareholders electing to receive payments of distributions in Fund shares		11,255			9,275
Redemptions		(130,532	)		(323,121	)
Net decrease		(104,496	)		(254,406	)
Institutional Class	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
Sales		25,964,289			87,215,213
Issued to shareholders electing to receive payments of distributions in Fund shares		2,406,700			3,973,840
Redemptions		(55,686,665	)		(99,157,476	)
Net decrease		(27,315,676	)		(7,968,423	)
Class R6	Six Months Ended July 31, 2015 (Unaudited)			Period Ended January 31, 2015(1)
Sales		5,380,315			42,716,351
Issued to shareholders electing to receive payments of distributions in Fund shares		606,597			772,239
Redemptions		(1,423,868	)		(758,357	)
Net increase		4,563,044			42,730,233

⁽¹⁾  Class R6 commenced operations on July 1, 2014.

38

Parametric Emerging Markets Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

8  Line of Credit

The Fund participates with other portfolios and funds managed by EVM and its affiliates in a $750 million unsecured line of credit agreement with a group of banks, which is in effect through September 7, 2015. 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. At July 31, 2015, the Fund had a balance outstanding pursuant to this line of credit of $35,500,000 at an interest rate of 1.14%. Based on the short-term nature of the borrowings under the line of credit and variable interest rate, the carrying value of the borrowings approximated its fair value at July 31, 2015. If measured at fair value, borrowings under the line of credit would have been considered as Level 2 in the fair value hierarchy (see Note 10) at July 31, 2015. The Fund’s average borrowings or allocated fees during the six months ended July 31, 2015 were not significant.

On September 4, 2015, the Fund renewed its line of credit agreement, which expires September 2, 2016. Under the terms of the renewed credit agreement, the commitment amount was reduced to $625 million and the commitment fee on the unused portion of the line of credit was changed to an annual rate of 0.10%.

9  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. The foregoing risks of foreign investing can be more significant in less developed countries characterized as emerging market countries.

On June 29, 2015, trading of securities on the Athens Stock Exchange was suspended due to the imposition of capital controls by the Greek government. The suspension on trading was lifted in early August after a five-week period.

10  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

• 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.

39

Parametric Emerging Markets Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

At July 31, 2015, 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	$	35,005,533	$	1,648,781,089		$	2,751,677	$	1,686,538,299
Emerging Europe		30,050,600		728,235,951			—		758,286,551
Latin America		759,417,018		—			0		759,417,018
Middle East/Africa		6,528,963		732,383,264			185,965		739,098,192
Total Common Stocks	$	831,002,114	$	3,109,400,304	**	$	2,937,642	$	3,943,340,060
Equity-Linked Securities – Saudi Arabia	$	—	$	34,082,100		$	966,414	$	35,048,514
Investment Funds		—		2,219,181			—		2,219,181
Warrants		170,327		—			—		170,327
Short-Term Investments		—		67,602			—		67,602
Total Investments	$	831,172,441	$	3,145,769,187		$	3,904,056	$	3,980,845,684

* 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, 2015 is not presented. At July 31, 2015, the value of investments transferred between Level 1 and Level 2 during the six months then ended was not significant.

40

Parametric Emerging Markets Fund

July 31, 2015

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 registered investment companies advised, administered and/or distributed by Eaton Vance Management or its affiliates (the “Eaton Vance Funds”) held on April 27, 2015, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing investment 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 its Contract Review Committee, 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 2015. The Contract Review Committee also considered information received at prior meetings of the Board and its committees, as relevant to its annual evaluation of the investment advisory and sub-advisory agreements.

The information that the Board considered included, among other things, the following:

Information about Fees, Performance and Expenses

• A report from an independent data provider comparing the advisory and related fees paid by each fund with fees paid by comparable funds as identified by the data provider (“comparable funds”);

• A report from an independent data provider comparing each fund’s total expense ratio and its components to comparable funds;

• A report from an independent data provider 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 identified by the adviser in consultation with the Board;

• 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 it employs;

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

• Information about the allocation of brokerage transactions 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 policies with respect to “soft dollars”;

• Data relating to portfolio turnover rates of each fund;

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;

• The Code of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

• Policies and procedures relating to proxy voting and the handling of corporate actions and class actions;

• Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates (including descriptions of various compliance programs) and their record of compliance;

• 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;

41

Parametric Emerging Markets Fund

July 31, 2015

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 investment advisory agreement.

Over the course of the twelve-month period ended April 30, 2015, with respect to one or more funds, the Board met nine 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, seventeen, seven, eleven 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, and 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. In addition to the formal meetings of the Board and its Committees, the Independent Trustees hold regular teleconferences in between meetings to discuss, among other topics, matters relating to the continuation of investment advisory and sub-advisory agreements.

For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of investment 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 investment advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment 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 investment advisory and sub-advisory agreement. In evaluating each investment advisory and sub-advisory agreement, including the specific fee structures and other terms of the agreements, the Contract Review Committee was informed by multiple years of analysis and discussion among the Independent Trustees and the Eaton Vance Funds’ advisers and sub-advisers.

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 (the “Fund”) with Eaton Vance Management (the “Adviser”) and the sub-advisory agreement with Parametric Portfolio Associates LLC (the “Sub-adviser”), an affiliate of the Adviser, 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, including recent changes to such personnel. 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, as well as the compensation methods of the Adviser and other factors, such as the reputation and resources of the Adviser to recruit and retain investment personnel. In addition, the Board considered the time and attention devoted to the Fund by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the management of the Fund, including the provision of administrative services.

The Board considered 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,

42

Parametric Emerging Markets Fund

July 31, 2015

Board of Trustees’ Contract Approval — continued

frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also considered 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.

The Board considered shareholder and other administrative services provided or managed by the Adviser 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 agreement and the sub-advisory agreement.

Fund Performance

The Board compared the Fund’s investment performance to that of comparable funds and appropriate benchmark indices. The Board’s review included comparative performance data for the one-, three- and five-year periods ended September 30, 2014 for the Fund. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board considered contractual fee rates payable by the Fund for advisory and administrative services (referred to collectively as “management fees”). As part of its review, the Board considered the Fund’s management fees and total expense ratio for the year ended September 30, 2014, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. 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 fund complex level.

After considering 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 considered 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, including new breakpoints effective May 1, 2015, will allow the Fund to continue to benefit from economies of scale in the future.

43

Parametric Emerging Markets Fund

July 31, 2015

Officers and Trustees

Officers of Parametric Emerging Markets Fund

Payson F. Swaffield

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

Thomas E. Faust Jr.*

Cynthia E. Frost

George J. Gorman

Valerie A. Mosley

William H. Park

Helen Frame Peters

Susan J. Sutherland**

Harriett Tee Taggart

* Interested Trustee

** Ms. Sutherland began serving as a Trustee effective May 1, 2015.

44

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 1-800-260-0761, 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 1-800-260-0761 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 1-800-260-0761 and by accessing the SEC’s website at www.sec.gov.

45

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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

State Street Financial Center, One Lincoln Street

Boston, MA 02111

Transfer Agent

BNY Mellon Investment Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 260-0761

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.

7750    7.31.15

Parametric Global

Small-Cap Fund

Semiannual Report

July 31, 2015

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. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor.

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 1-800-260-0761.

Semiannual Report July 31, 2015

Parametric Global Small-Cap 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	29
Officers and Trustees	32
Important Notices	33

Parametric Global Small-Cap Fund

July 31, 2015

Performance^1,2

Portfolio Managers Thomas Seto and Paul Bouchey, CFA, each of Parametric Portfolio Associates LLC

% Average Annual 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		6.76	%		3.24	%		—			9.72	%
S&P Global SmallCap Index		—		—		6.86	%		4.23	%		11.66	%		12.77	%
% Total Annual Operating Expense  Ratios3														Institutional Class
Gross															3.33	%
Net															0.85

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 eatonvance.com.

2

Parametric Global Small-Cap Fund

July 31, 2015

Fund Profile

Sector Allocation (% of net assets)⁴

Top 10 Holdings (% of net assets)⁴

Ulta Salon, Cosmetics & Fragrance, Inc.	0.5	%
Alaska Air Group, Inc.	0.5
Allegiant Travel Co.	0.5
Foot Locker, Inc.	0.4
Endo International PLC	0.4
Inmarsat PLC	0.4
Costar Group, Inc.	0.4
Ingenico Group	0.4
Freenet AG	0.4
Jarden Corp.	0.4
Total	4.3	%

Geographic Allocation (% of common stocks)

See Endnotes and Additional Disclosures in this report.

3

Parametric Global Small-Cap Fund

July 31, 2015

Endnotes and Additional Disclosures

¹  S&P Global SmallCap Index is an unmanaged index of global small-cap stocks. 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. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

³  Source: Fund prospectus. Net expense ratio reflects a contractual expense reimbursement that continues through 5/31/16. Without the reimbursement, if applicable, performance would have been lower.

⁴  Excludes cash and cash equivalents.

Fund profile subject to change due to active management.

Important Notice to Shareholders

Effective May 29, 2015, the Fund changed its primary benchmark to the S&P Global SmallCap Index because the Russell Global 2000 Index terminated.

4

Parametric Global Small-Cap Fund

July 31, 2015

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, 2015 – July 31, 2015).

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 (2/1/15)		Ending Account Value (7/31/15)		Expenses Paid During Period* (2/1/15 – 7/31/15)			Annualized Expense Ratio
Actual
Institutional Class	$	1,000.00	$	1,067.60	$	4.36	**		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, 2015.

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

5

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited)

Common Stocks — 98.5%
Security	Shares		Value
Australia — 3.4%
Adelaide Brighton, Ltd.		970	$	3,347
Alumina, Ltd.		3,204		3,465
Ansell, Ltd.		486		8,884
Aristocrat Leisure, Ltd.		984		6,155
AWE, Ltd.(1)		3,708		3,408
Beach Energy, Ltd.		4,500		3,193
Bega Cheese, Ltd.		902		3,132
CSG, Ltd.		4,974		6,108
CSR, Ltd.		1,082		2,953
Downer EDI, Ltd.		935		3,103
Drillsearch Energy, Ltd.(1)		6,991		4,509
DUET Group		5,309		8,531
DuluxGroup, Ltd.		752		3,337
Echo Entertainment Group, Ltd.		1,151		4,214
Energy Resources of Australia, Ltd.(1)		3,794		1,053
Federation Centres		2,213		4,843
GrainCorp, Ltd., Class A		840		5,470
Greencross, Ltd.		371		1,637
Investa Office Fund		2,551		7,372
IOOF Holdings, Ltd.		535		3,605
iProperty Group, Ltd.(1)		2,043		4,404
IRESS, Ltd.		881		6,685
JB Hi-Fi, Ltd.		315		4,439
M2 Group, Ltd.		1,436		11,564
Macquarie Atlas Roads Group		1,021		2,548
Mesoblast, Ltd.(1)		791		2,273
Monadelphous Group, Ltd.		656		4,087
Myer Holdings, Ltd.		1,814		1,664
New Hope Corp., Ltd.		3,189		4,453
NEXTDC, Ltd.(1)		2,526		4,745
Orora, Ltd.		1,851		3,149
Platinum Asset Management, Ltd.		575		3,179
Primary Health Care, Ltd.		1,699		5,704
Qube Holdings, Ltd.		1,740		3,097
REA Group, Ltd.		67		2,118
Recall Holdings, Ltd.		740		3,880
Reece Australia, Ltd.		125		3,016
Regis Resources, Ltd.(1)		5,382		5,090
Select Harvests, Ltd.		642		6,185
Sims Metal Management, Ltd.		311		2,140
Spark Infrastructure Group		6,295		8,889
Tabcorp Holdings, Ltd.		1,469		5,190
Tassal Group, Ltd.		1,158		3,181
Technology One, Ltd.		1,619		4,711

Security	Shares		Value
Australia (continued)
TPG Telecom, Ltd.		819	$	5,689
Transpacific Industries Group, Ltd.		4,376		2,264
Treasury Wine Estates, Ltd.		1,877		7,887
Vocus Communications, Ltd.		1,192		5,365
Whitehaven Coal, Ltd.(1)		2,505		2,187
			$	218,102
Austria — 0.5%
AMAG Austria Metall AG(2)		72	$	2,663
ams AG		88		3,816
CA Immobilien Anlagen AG		146		2,626
Conwert Immobilien Invest SE(1)		261		3,169
DO & Co. AG		59		6,120
Flughafen Wien AG		30		2,589
Kapsch TrafficCom AG(1)		97		2,543
RHI AG		125		3,101
Wienerberger AG		186		3,072
			$	29,699
Belgium — 0.9%
Agfa-Gevaert NV(1)		823	$	2,479
Barco NV		38		2,515
Befimmo SCA Sicafi		28		1,774
Bekaert SA		76		2,222
Cofinimmo		20		2,148
Compagnie d’Entreprises CFE		56		7,473
D’Ieteren SA NV		85		3,110
Elia System Operator SA NV		124		5,200
Euronav SA		475		7,256
EVS Broadcast Equipment SA		60		1,693
Fagron		45		2,113
Gimv NV		47		2,322
Kinepolis		71		2,867
Mobistar SA(1)		268		5,809
Tessenderlo Chemie NV(1)		113		4,430
ThromboGenics NV(1)		220		1,217
			$	54,628
Brazil — 1.5%
Aliansce Shopping Centers SA		500	$	2,025
BR Properties SA		1,400		4,641
Bradespar SA, PFC Shares		650		1,868
Brasil Pharma SA(1)		8,000		1,589
CETIP SA - Mercados Organizados		250		2,589
Duratex SA		1,550		3,151

6 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Brazil (continued)
EDP-Energias do Brasil SA		600	$	2,287
Equatorial Energia SA		900		9,200
Estacio Participacoes SA		500		2,074
Linx SA		125		1,843
Localiza Rent a Car SA		200		1,641
LPS Brasil Consultoria de Imoveis SA		500		701
Mahle-Metal Leve		500		3,016
Marcopolo SA, PFC Shares		1,800		1,209
Metalurgica Gerdau SA, PFC Shares		2,300		2,351
Minerva SA(1)		600		1,980
Odontoprev SA		1,100		3,572
PDG Realty SA Empreendimentos e Participacoes(1)		26,900		1,886
Profarma Distribuidora de Produtos Farmaceuticos SA(1)		625		1,816
QGEP Participacoes SA		700		1,300
Qualicorp SA		1,275		7,578
Raia Drogasil SA		1,000		12,708
Rumo Logistica Operadora Multimodal SA(1)		5,701		1,515
Santos Brasil Participacoes SA		855		3,181
Sao Martinho SA		200		1,974
Somos Educacao SA		600		2,234
Sonae Sierra Brasil SA		400		2,021
Totvs SA		775		7,936
Valid Solucoes SA		200		2,903
			$	92,789
Canada — 3.3%
Aimia, Inc.		172	$	1,860
Air Canada(1)		380		3,420
Alamos Gold, Inc.(1)		341		1,108
Allied Properties REIT		181		5,040
Amaya, Inc.(1)		105		2,574
AuRico Metals, Inc.(1)		149		59
Birchcliff Energy, Ltd.(1)		378		1,711
Bonterra Energy Corp.		78		1,437
Canadian Apartment Properties REIT		200		4,287
Canadian REIT		100		3,251
Canadian Western Bank		92		1,731
Canfor Corp.(1)		371		6,749
Capital Power Corp.		566		9,473
CCL Industries, Inc.		76		10,633
Celestica, Inc.(1)		500		6,698
Chartwell Retirement Residences		500		4,572
China Gold International Resources Corp., Ltd.(1)		1,591		2,178
Cineplex, Inc.		59		2,149
Computer Modelling Group, Ltd.		220		2,202

Security	Shares		Value
Canada (continued)
Concordia Healthcare Corp.		98	$	7,801
Constellation Software, Inc.		24		10,671
Cott Corp.		500		5,631
Descartes Systems Group, Inc. (The)(1)		247		4,166
DH Corp.		198		6,525
Dollarama, Inc.		214		12,738
E-L Financial Corp, Ltd.		4		2,202
Enbridge Income Fund Holdings, Inc.		111		2,926
Enerflex, Ltd.		317		2,955
First Majestic Silver Corp.(1)		665		2,039
Freehold Royalties, Ltd.		114		1,130
Gibson Energy, Inc.		96		1,415
Gran Tierra Energy, Inc.(1)		526		1,162
High Liner Foods, Inc.		109		1,988
Home Capital Group, Inc.		190		4,624
Imperial Metals Corp.(1)		302		1,847
Just Energy Group, Inc.		622		3,348
MacDonald Dettwiler & Associates, Ltd.		57		3,379
Manitoba Telecom Services, Inc.		89		1,974
Maple Leaf Foods, Inc.		533		9,247
Medical Facilities Corp.		499		5,429
Mullen Group, Ltd.		179		2,613
North West Co., Inc. (The)		352		7,404
Northland Power, Inc.		529		6,468
Parkland Fuel Corp.		150		2,732
Pason Systems, Inc.		201		3,045
Quebecor, Inc., Class B		123		2,909
Ritchie Bros Auctioneers, Inc.		132		3,571
RONA, Inc.		382		4,478
Russel Metals, Inc.		78		1,157
Sienna Senior Living, Inc.		400		4,738
Toromont Industries, Ltd.		104		2,908
WestJet Airlines, Ltd.		153		2,699
Westshore Terminals Investment Corp.		91		2,010
			$	211,061
Chile — 0.4%
A.F.P. Habitat SA		3,057	$	3,986
Almendral SA		45,176		3,344
Banmedica SA		2,310		4,351
Besalco SA(1)		3,333		1,275
Inversiones Aguas Metropolitanas SA		2,520		3,663
Ripley Corp. SA		8,187		2,816
Vina Concha y Toro SA		2,004		3,136
			$	22,571

7 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
China — 3.0%
ANTA Sports Products, Ltd.		2,000	$	5,142
Anton Oilfield Services (Group), Ltd.(1)		8,000		1,370
Beijing Enterprises Water Group, Ltd.		8,000		5,972
Beijing Jingneng Clean Energy Co., Ltd., Class H		8,000		2,690
C.P. Pokphand Co., Ltd.		30,000		4,130
Carnival Group International Holdings, Ltd.(1)		30,000		4,489
China Datang Corp. Renewable Power Co., Ltd., Class H(1)		18,000		2,344
China Foods, Ltd.(1)		8,000		3,690
China High Speed Transmission Equipment Group Co., Ltd.(1)		4,000		3,258
China Medical System Holdings, Ltd.		5,000		6,639
China Modern Dairy Holdings, Ltd.		9,000		2,905
China Oil & Gas Group, Ltd.		22,000		2,015
China Pharmaceutical Group, Ltd.		4,000		3,672
China Power International Development, Ltd.		11,000		7,787
China Shineway Pharmaceutical Group, Ltd.		2,000		2,551
China Singyes Solar Technologies Holdings, Ltd.		2,000		2,004
China South City Holdings, Ltd.		8,000		2,360
China Suntien Green Energy Corp., Ltd., Class H		9,000		1,589
China Tian Lun Gas Holdings, Ltd.(1)		3,000		2,719
China Travel International Investment Hong Kong, Ltd.		20,000		7,693
China Zhongwang Holdings, Ltd.		7,600		3,245
CIMC Enric Holdings, Ltd.		4,000		2,797
CITIC Telecom International Holdings, Ltd.		12,000		5,477
Dah Chong Hong Holdings, Ltd.		5,000		2,214
E-House China Holdings, Ltd. ADR		300		1,890
Franshion Properties China, Ltd.		10,000		3,222
Guangzhou Automobile Group Co., Ltd., Class H		2,000		1,603
Haitian International Holdings, Ltd.		2,000		4,150
Hanergy Thin Film Power Group, Ltd.(1)(3)		26,000		0
Huabao International Holdings, Ltd.		5,000		2,422
Kingsoft Corp, Ltd.		3,000		8,013
Leju Holdings, Ltd. ADR		15		102
MMG, Ltd.(1)		8,000		2,174
Newocean Energy Holdings, Ltd.		14,000		6,236
Shenguan Holdings Group, Ltd.		10,000		2,008
Shenzhen International Holdings, Ltd.		2,500		4,132
Shenzhen Investment, Ltd.		8,000		3,093
Shougang Fushan Resources Group, Ltd.		14,000		2,108
Sino Biopharmaceutical, Ltd.		4,000		4,637
Sinopec Engineering Group Co., Ltd., Class H		2,500		2,043
Sinopec Kantons Holdings, Ltd.		10,000		6,365
SouFun Holdings, Ltd. ADR		520		3,468
Sunac China Holdings, Ltd.		5,000		4,464
TAL Education Group ADR(1)		100		3,381
Uni-President China Holdings, Ltd.		5,000		4,600
Vinda International Holdings, Ltd.		3,000		7,423

Security	Shares		Value
China (continued)
Vipshop Holdings, Ltd. ADR(1)		370	$	7,211
WuXi PharmaTech (Cayman), Inc. ADR(1)		227		9,420
Yingde Gases Group Co.		6,500		3,876
Youku Tudou, Inc. ADR(1)		114		2,212
Yuexiu Property Co., Ltd.		14,000		2,761
YY, Inc. ADR(1)		28		1,655
			$	193,421
Denmark — 0.8%
ALK-Abello A/S		19	$	2,320
Auriga Industries A/S, Class B		93		31
Bang & Olufsen A/S(1)		487		4,529
D/S Norden A/S(1)		91		2,383
GN Store Nord A/S		153		3,112
NKT Holding A/S		39		2,187
Royal Unibrew A/S		180		5,891
SimCorp A/S		218		9,307
Spar Nord Bank A/S		285		3,350
Sydbank A/S		108		4,089
Topdanmark A/S(1)		96		2,653
United International Enterprises, Ltd.		19		3,197
Vestas Wind Systems A/S		86		4,698
Zealand Pharma A/S(1)		205		4,448
			$	52,195
Finland — 0.8%
Amer Sports Oyj		200	$	5,833
Citycon Oyj		974		2,585
F-Secure Oyj		1,008		3,109
Huhtamaki Oyj		222		7,879
Oriola-KD Oyj, Series B(1)		1,275		6,207
Raisio Oyj		1,138		5,177
Ramirent Oyj		365		2,876
Stockmann Oyj Abp, Class B(1)		370		2,718
Technopolis Oyj		672		2,759
Tieto Oyj		211		5,403
Tikkurila Oyj		160		3,086
Uponor Oyj		193		3,060
Valmet Oyj		305		3,610
			$	54,302
France — 3.6%
Alten SA		168	$	8,466
Arkema SA		160		12,468
bioMerieux		62		7,204

8 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
France (continued)
Bollore SA		2,953	$	16,357
CGG SA(1)		879		4,391
Edenred		176		4,387
Etablissements Maurel et Prom(1)		504		3,227
Eutelsat Communications SA		98		2,987
Fonciere des Regions		52		4,490
Gecina SA		35		4,481
Groupe Eurotunnel SE		407		5,847
ICADE		48		3,559
Imerys SA		91		6,856
Ingenico Group		191		25,018
Ipsen SA		130		8,377
IPSOS		159		3,989
Lagardere SCA		116		3,469
MPI		747		2,152
Orpea		44		3,321
Remy Cointreau SA		165		11,727
Rubis SCA		174		12,506
Sartorius Stedim Biotech		28		8,735
SCOR SE		198		7,587
Societe d’Edition de Canal		781		6,846
UBISOFT Entertainment(1)		575		11,171
Veolia Environnement SA		733		16,372
Vicat		71		5,280
Vilmorin & Cie SA		51		4,242
Virbac SA		49		11,620
Zodiac Aerospace		164		4,888
			$	232,020
Germany — 3.6%
Aixtron SE(1)		195	$	1,157
Aurubis AG		78		4,666
Axel Springer SE		52		2,914
BayWa AG		46		1,712
Bechtle AG		33		2,801
Bilfinger SE		33		1,363
Biotest AG, PFC Shares		81		2,280
Brenntag AG		78		4,337
Carl Zeiss Meditec AG		175		4,930
Celesio AG		125		3,644
CTS Eventim AG & Co. KGaA		129		4,862
Deutsche Annington Immobilien SE		83		2,590
Deutsche EuroShop AG		219		9,788
Deutsche Lufthansa AG(1)		142		1,929
Dialog Semiconductor PLC(1)		167		8,329

Security	Shares		Value
Germany (continued)
Draegerwerk AG & Co. KGaA, PFC Shares		33	$	3,306
Fielmann AG		46		3,040
Fraport AG		37		2,429
Freenet AG		724		24,846
Fuchs Petrolub SE		87		3,482
Fuchs Petrolub SE, PFC Shares		125		5,432
Gerresheimer AG		82		6,034
Gerry Weber International AG		112		2,758
Hannover Rueck SE		76		8,069
Hawesko Holding AG		53		2,409
Hugo Boss AG		29		3,497
K&S AG		253		10,381
Kabel Deutschland Holding AG(1)		26		3,528
Krones AG		32		3,689
KUKA AG		48		4,107
LEG Immobilien AG		74		5,385
MTU Aero Engines AG		32		2,947
Pfeiffer Vacuum Technology AG		51		4,674
ProSiebenSat. 1 Media SE		136		6,953
QSC AG		875		1,752
Rheinmetall AG		39		2,123
Rhoen-Klinikum AG		256		7,115
Sky Deutschland AG(1)		476		3,553
Software AG		105		3,142
Suedzucker AG		333		5,492
Symrise AG		169		11,236
TAG Immobilien AG		228		2,577
Telefonica Deutschland Holdings AG(2)		1,268		7,864
United Internet AG		110		5,437
Vossloh AG(1)		59		3,751
Wincor Nixdorf AG		53		2,252
Wirecard AG		238		9,430
			$	229,992
Greece — 0.4%
Ellaktor SA(1)		1,575	$	2,683
GEK Terna Holding Real Estate Construction SA(1)		686		1,118
Hellenic Exchanges - Athens Stock Exchange SA		1,001		4,231
Intralot SA(1)		1,505		2,330
JUMBO SA		210		1,419
LAMDA Development SA(1)		461		1,701
Metka SA		283		2,008
Navios Maritime Acquisition Corp.		800		3,168
StealthGas, Inc.(1)		500		2,815
Terna Energy SA(1)		1,369		3,828
			$	25,301

9 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Hong Kong — 1.6%
APT Satellite Holdings, Ltd.		3,750	$	3,495
Brightoil Petroleum Holdings, Ltd.(1)		12,000		4,405
Century Sunshine Group Holdings, Ltd.		31,500		2,277
Champion REIT		6,000		3,327
Chia Tai Enterprises International, Ltd.(1)		300		194
China Huarong Energy Co., Ltd.(1)		13,000		802
China Traditional Chinese Medicine Co., Ltd.(1)		10,000		7,563
China Water Industry Group, Ltd.(1)		16,000		4,004
Chow Sang Sang Holdings International, Ltd.		2,000		3,872
CK Life Sciences International Holdings, Inc.		48,000		4,765
Fortune REIT		3,000		3,273
G-Resources Group, Ltd.		114,000		3,370
Giordano International, Ltd.		6,000		3,055
Great Eagle Holdings, Ltd.		1,000		3,481
HC International, Inc.(1)		2,000		1,306
Honbridge Holdings, Ltd.(1)		14,000		2,419
Hopewell Highway Infrastructure, Ltd.		50		24
Hopewell Holdings, Ltd.		1,000		3,450
IGG, Inc.		4,000		1,982
Johnson Electric Holdings, Ltd.		1,500		5,082
Pacific Andes International Holdings, Ltd.(1)		100,000		3,350
PCCW, Ltd.		14,000		8,378
SA SA International Holdings, Ltd.		4,000		1,794
Sino Oil and Gas Holdings, Ltd.(1)		95,000		2,058
Techtronic Industries Co., Ltd.		1,000		3,534
Tongda Group Holdings, Ltd.		20,000		3,374
Towngas China Co., Ltd.		4,000		3,657
Transport International Holdings, Ltd.		1,600		4,366
Truly International Holdings		8,000		2,693
Up Energy Development Group, Ltd.(1)		28,000		992
Vitasoy International Holdings, Ltd.		2,000		3,003
Yanchang Petroleum International, Ltd.(1)		50,000		1,495
Yuexiu REIT		6,000		3,381
			$	104,221
India — 0.1%
WNS Holdings, Ltd. ADR(1)		130	$	3,875
			$	3,875
Indonesia — 0.4%
Ciputra Development Tbk PT		33,000	$	2,559
Gajah Tunggal Tbk PT		26,000		1,441
Garuda Indonesia Persero Tbk PT(1)		103,402		3,338
Holcim Indonesia Tbk PT		17,500		1,837
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		31,500		3,151

Security	Shares		Value
Indonesia (continued)
Sigmagold Inti Perkasa Tbk PT(1)		85,000	$	2,758
Siloam International Hospitals Tbk PT		5,800		7,094
Sugih Energy Tbk PT(1)		91,000		2,677
			$	24,855
Ireland — 0.4%
C&C Group PLC		1,034	$	4,021
Dalata Hotel Group PLC(1)		534		2,453
FBD Holdings PLC		164		1,378
FleetMatics Group PLC(1)		127		6,079
Grafton Group PLC		635		7,133
Kenmare Resources PLC(1)		15,591		853
UDG Healthcare PLC		631		4,943
			$	26,860
Israel — 0.5%
Cellcom Israel, Ltd.(1)		304	$	1,888
Evogene, Ltd.(1)		233		2,107
EZchip Semiconductor, Ltd.(1)		130		2,111
Frutarom Industries, Ltd.		151		6,368
Harel Insurance Investments & Financial Services, Ltd.		1,099		5,428
Oil Refineries, Ltd.(1)		12,316		5,085
Rami Levi Chain Stores Hashikma Marketing 2006, Ltd.		70		3,340
Shikun & Binui, Ltd.		1,434		3,359
SodaStream International, Ltd.(1)		75		1,346
			$	31,032
Italy — 2.0%
A2A SpA		2,987	$	3,813
ACEA SpA		349		4,600
Amplifon SpA		823		6,900
Ansaldo STS SpA		280		2,898
Atlantia SpA		165		4,406
Autogrill SpA(1)		314		2,835
Banca Generali SpA		173		5,688
Banca Popolare di Milano Scarl		6,380		6,901
Banco Popolare SC(1)		202		3,498
Brembo SpA		74		3,336
Brunello Cucinelli SpA		131		2,469
Buzzi Unicem SpA		679		11,592
Buzzi Unicem SpA, PFC Shares		291		3,037
Danieli & C. Officine Meccaniche SpA		139		2,924
De’Longhi SpA		222		5,411
Ei Towers SpA		56		3,597
Engineering SpA		56		3,583

10 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Italy (continued)
ERG SpA		683	$	8,837
Interpump Group SpA		214		3,636
Iren SPA		3,843		5,595
Italmobiliare SpA, PFC Shares		119		3,155
MARR SpA		177		3,273
Recordati SpA		495		12,328
Reply SpA		42		4,740
Sorin SpA(1)		2,019		5,838
			$	124,890
Japan — 7.9%
Adastria Co., Ltd.		90	$	4,349
ADEKA Corp.		300		3,875
Aica Kogyo Co., Ltd.		300		6,681
Aiful Corp.(1)		700		2,410
Anritsu Corp.		1,000		7,160
Asahi Intecc Co., Ltd.		200		6,683
Autobacs Seven Co., Ltd.		400		7,253
Azbil Corp.		200		4,750
Capcom Co., Ltd.		300		6,560
COMSYS Holdings Corp.		200		3,032
Daifuku Co., Ltd.		500		7,224
Daiwa House Residential Investment Corp.		2		4,217
Denki Kagaku Kogyo K.K.		1,000		4,158
Disco Corp.		100		7,727
Enplas Corp.		200		8,058
Fancl Corp.		700		10,818
FP Corp.		200		6,450
Frontier Real Estate Investment Corp.		1		4,355
GLP J-Reit		4		3,850
Haseko Corp.		500		6,331
Hokuetsu Kishu Paper Co., Ltd.		1,000		5,972
Hoshizaki Electric Co., Ltd.		300		17,882
House Foods Group, Inc.		300		6,062
Iida Group Holdings Co., Ltd.		300		5,266
IT Holdings Corp.		200		4,580
Ito En, Ltd.		400		9,298
Itochu Enex Co., Ltd.		500		4,902
Itoham Foods, Inc.		1,000		5,541
Japan Airport Terminal Co., Ltd.		100		5,320
Japan Excellent, Inc.		3		3,286
Japan Logistics Fund, Inc.		2		3,769
Kagoshima Bank, Ltd. (The)		1,000		6,836
Kakaku.com, Inc.		400		6,358
Kawasaki Kisen Kaisha, Ltd.		2,000		4,465

Security	Shares		Value
Japan (continued)
Kenedix Office Investment Corp.		1	$	4,633
Komeri Co., Ltd.		200		4,823
Kose Corp.		100		9,716
Kureha Corp.		1,000		3,775
KYORIN Holdings, Inc.		300		5,844
LEOPALACE21 Corp.(1)		900		4,921
Lion Corp.		1,000		8,598
Matsumotokiyoshi Holdings Co., Ltd.		100		4,826
Mixi, Inc.		100		4,333
MonotaRO Co., Ltd.		200		10,527
Mori Hills REIT Investment Corp.		3		3,518
Musashino Bank, Ltd. (The)		100		3,956
Nakanishi, Inc.		100		3,985
Nichirei Corp.		1,000		6,524
Nihon Kohden Corp.		400		8,873
Nihon Parkerizing Co., Ltd.		400		3,708
Nippon Gas Co., Ltd.		200		6,628
Nippon Light Metal Holdings Co., Ltd.		2,400		3,984
Nipro Corp.		500		5,282
NOF Corp.		1,000		8,281
Noritz Corp.		400		6,574
NS Solutions Corp.		200		7,887
Oki Electric Industry Co., Ltd.		3,000		6,166
Okinawa Electric Power Co., Inc. (The)		100		2,499
Orix JREIT, Inc.		3		4,084
Plenus Co., Ltd.		200		3,366
Pola Orbis Holdings, Inc.		200		12,219
Resorttrust, Inc.		200		4,942
Rohto Pharmaceutical Co., Ltd.		500		8,878
Ryohin Keikaku Co., Ltd.		100		21,311
Sawai Pharmaceutical Co., Ltd.		200		12,242
Shimachu Co., Ltd.		200		5,544
Shinko Plantech Co., Ltd.		500		4,126
Ship Healthcare Holdings, Inc.		200		4,239
Shizuoka Gas Co., Ltd.		500		3,583
Sohgo Security Services Co., Ltd.		200		8,868
Sotetsu Holdings, Inc.		1,000		5,890
Sumitomo Forestry Co., Ltd.		400		4,744
Sumitomo Osaka Cement Co., Ltd.		2,000		7,498
T-Gaia Corp.		400		6,961
Tokai Tokyo Financial Holdings, Inc.		500		3,819
Tokyo Ohka Kogyo Co., Ltd.		200		5,474
Toyobo Co., Ltd.		3,000		4,474
Tsuruha Holdings, Inc.		100		8,779
TV Asahi Corp.		200		3,133
UACJ Corp.		1,000		2,361

11 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Japan (continued)
Xebio Co., Ltd.		200	$	3,778
Yodogawa Steel Works, Ltd.		1,000		4,186
ZERIA Pharmaceutical Co., Ltd.		200		2,924
			$	502,762
Malaysia — 0.8%
Affin Holdings Bhd		3,400	$	2,252
Berjaya Sports Toto Bhd		4,231		3,684
Cahya Mata Sarawak Bhd		4,100		6,244
Eastern & Oriental Bhd		7,100		3,287
Gas Malaysia Bhd		3,800		2,480
Icon Offshore Bhd(1)		15,700		1,577
KNM Group Bhd(1)		14,700		2,221
Kossan Rubber Industries		3,100		5,916
KPJ Healthcare Bhd		3,500		3,935
Press Metal Bhd		10,200		6,555
Silverlake Axis, Ltd.		7,200		5,104
TIME dotCom Bhd		2,800		4,957
TSH Resources Bhd		6,150		3,605
			$	51,817
Mexico — 0.8%
Alsea SAB de CV		1,200	$	3,887
Fibra Uno Administracion SA de CV		2,200		5,286
Genomma Lab Internacional SAB de CV(1)		6,100		5,679
Gruma SAB, Class B		400		5,233
Grupo Aeroportuario del Pacifico SAB de CV, Class B		600		4,735
Grupo Aeroportuario del Sureste SAB de CV, Class B		400		5,980
Grupo Comercial Chedraui SA de CV		1,200		3,328
Grupo Simec SA de CV, Series B(1)		1,300		3,720
Infraestructura Energetica Nova SAB de CV		900		4,379
Megacable Holdings SAB de CV		900		3,649
Ternium SA ADR		300		4,665
			$	50,541
Netherlands — 1.7%
Aercap Holdings NV(1)		100	$	4,684
Arcadis NV		387		10,148
ASM International NV		168		7,554
Beter Bed Holding NV		320		7,839
Brunel International NV		270		5,285
Constellium NV, Class A(1)		400		4,440
Delta Lloyd NV		350		6,207
Eurocommercial Properties NV		156		6,731
Fugro NV(1)		223		4,664

Security	Shares		Value
Netherlands (continued)
InterXion Holding NV(1)		272	$	7,513
Lucas Bols Holding BV(1)(2)		304		5,669
Royal Boskalis Westminster NV		120		5,863
SBM Offshore NV(1)		800		9,733
Sligro Food Group NV		249		9,574
TNT Express NV		976		8,168
Wereldhave NV		80		4,730
			$	108,802
New Zealand — 0.4%
A2 Milk Co., Ltd.(1)		6,203	$	3,360
Diligent Corp.(1)		998		3,778
Kathmandu Holdings, Ltd.		1,189		1,333
New Zealand Oil & Gas, Ltd.		4,006		1,321
Nuplex Industries, Ltd.		1,410		4,233
Property for Industry, Ltd.		3,009		3,078
Skellerup Holdings, Ltd.		2,372		1,926
Summerset Group Holdings, Ltd.		2,032		5,603
			$	24,632
Norway — 0.8%
ABG Sundal Collier Holding ASA		3,080	$	2,825
Atea ASA		272		2,349
Borregaard ASA		1,022		6,476
Ekornes ASA		639		7,864
Hoegh LNG Holdings, Ltd.		194		3,107
Leroey Seafood Group ASA		75		2,579
Nordic Semiconductor ASA(1)		453		2,894
Norway Royal Salmon ASA		322		2,813
Olav Thon Eiendomsselskap ASA		123		2,232
Opera Software ASA		232		1,852
Protector Forsikring ASA		297		2,274
Salmar ASA		178		2,815
Scatec Solar ASA(2)		549		3,220
Tomra Systems ASA		291		2,577
Veidekke ASA		275		3,060
Wilh. Wilhelmsen ASA		298		1,738
			$	50,675
Poland — 0.5%
Asseco Poland SA		321	$	4,901
Ciech SA(1)		256		4,784
Emperia Holding SA		136		2,630
Integer.pl SA(1)		41		1,460
Lubelski Wegiel Bogdanka SA		106		1,472

12 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Poland (continued)
Netia SA		2,062	$	3,090
PKP Cargo SA		136		2,890
TVN SA		842		4,431
Warsaw Stock Exchange		270		3,497
			$	29,155
Portugal — 0.4%
Banco BPI SA(1)		3,044	$	3,451
Mota-Engil SGPS SA		570		1,514
NOS SGPS SA		1,192		10,087
Portucel SA		850		3,236
REN - Redes Energeticas Nacionais SGPS SA		1,000		2,997
Sonae		2,400		3,327
Sonaecom - SGPS SA		1,352		3,388
			$	28,000
Russia — 0.8%
Aeroflot - Russian Airlines PJSC(1)		7,346	$	4,670
AK Transneft OAO, PFC Shares		2		4,516
CTC Media, Inc.		1,000		1,880
E.ON Russia JSC		62,421		2,638
Mail.ru Group, Ltd. GDR(1)		319		5,972
O’Key Group SA GDR		357		959
OAO TMK GDR		374		1,450
PhosAgro OAO GDR		278		3,774
PIK Group		1,530		4,253
Polyus Gold International, Ltd.		1,559		4,296
QIWI PLC ADR		146		4,470
RusHydro JSC ADR		6,090		5,425
X5 Retail Group NV GDR(1)		465		8,295
			$	52,598
Singapore — 0.8%
ARA Asset Management, Ltd.		2,000	$	2,487
Boustead Projects, Ltd.(1)		480		302
Boustead Singapore, Ltd.		1,600		1,401
CDL Hospitality Trusts		4,000		4,550
CSE Global, Ltd.		5,000		1,949
Ezion Holdings, Ltd.		2,400		1,509
Ezra Holdings, Ltd.(1)		9,320		914
Hyflux, Ltd.		4,100		2,506
Indofood Agri Resources, Ltd.		4,000		1,706
Keppel Infrastructure Trust		11,000		4,167
LionGold Corp., Ltd.(1)		54,000		631
Metro Holdings, Ltd.		4,000		2,654

Security	Shares		Value
Singapore (continued)
OSIM International, Ltd.		2,000	$	2,325
Raffles Medical Group, Ltd.		1,000		3,494
Religare Health Trust		5,000		3,846
Sheng Siong Group, Ltd.		8,000		5,213
Singapore Post, Ltd.		2,000		2,848
UMS Holdings, Ltd.		6,000		2,230
United Engineers, Ltd.		2,000		3,627
			$	48,359
South Africa — 0.8%
Adbee Rf, Ltd.(1)		144	$	391
Adcock Ingram Holdings, Ltd.(1)		819		3,246
AECI, Ltd.		397		3,396
African Bank Investments, Ltd.(1)(3)		4,545		0
Aveng, Ltd.(1)		1,540		783
AVI, Ltd.		610		3,845
Capital Property Fund(1)		2,582		2,997
DataTec, Ltd.		1,003		5,402
EOH Holdings, Ltd.		342		4,655
Illovo Sugar, Ltd.		1,950		2,057
Lewis Group, Ltd.		494		2,240
Resilient Property Income Fund, Ltd.		458		3,633
Reunert, Ltd.		684		3,415
Royal Bafokeng Platinum, Ltd.(1)		494		1,417
Sappi, Ltd.(1)		1,408		4,627
Sun International, Ltd.		298		2,700
Telkom SA SOC, Ltd.		977		4,747
Trencor, Ltd.		315		1,489
			$	51,040
South Korea — 3.3%
Cheil Worldwide, Inc.(1)		380	$	6,223
CJ Korea Express Co., Ltd.(1)		27		3,969
Daum Kakao Corp.		47		4,849
DGB Financial Group Co., Ltd.		274		2,629
EO Technics Co., Ltd.		45		4,397
Grand Korea Leisure Co., Ltd.		90		2,312
Green Cross Corp.		19		3,573
Green Cross Holdings Corp.		224		7,869
GS Engineering & Construction Corp.(1)		158		3,535
GS Retail Co., Ltd.		220		9,827
Hanil Cement Co., Ltd.		24		2,594
Hanmi Pharmaceutical Co., Ltd.(1)		13		4,472
Hanssem Co., Ltd.		39		9,916
Huchems Fine Chemical Corp.		132		2,572

13 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
South Korea (continued)
Hyundai Green Food Co., Ltd.		400	$	8,259
Hyundai Home Shopping Network Corp.		26		2,721
iMarketKorea, Inc.		99		2,596
JB Financial Group Co., Ltd.		489		2,682
KB Insurance Co., Ltd.		155		3,735
KEPCO Plant Service & Engineering Co., Ltd.		49		4,923
Kolon Industries, Inc.		76		3,546
Korean Reinsurance Co.		612		7,729
LG Hausys, Ltd.		18		2,732
Lock & Lock Co., Ltd.		270		3,270
Lotte Chilsung Beverage Co., Ltd.		3		5,799
LS Industrial Systems Co., Ltd.		72		3,220
Macquarie Korea Infrastructure Fund		780		5,266
Medy-Tox, Inc.		10		4,539
Nong Shim Co., Ltd.		25		6,644
Ottogi Corp.		13		9,158
Paradise Co., Ltd.		132		2,670
Partron Co., Ltd.		296		2,049
Posco ICT Co., Ltd.		584		2,532
S1 Corp.		77		5,554
Samchully Co., Ltd.		25		2,678
Samsung Fine Chemicals Co., Ltd.		102		3,000
Seoul Semiconductor Co., Ltd.(1)		155		2,099
SK Chemicals Co., Ltd.		71		4,295
SK Gas, Ltd.		34		2,460
SK Telecom Co., Ltd.		30		6,438
Tongyang Life Insurance		630		8,195
ViroMed Co., Ltd.(1)		45		6,767
Wonik IPS Co., Ltd.(1)		405		4,246
Young Poong Corp.		3		3,497
Yuhan Corp.		34		7,848
			$	209,884
Spain — 1.5%
Acerinox SA		294	$	3,586
Almirall SA		611		12,016
Atresmedia Corporacion de Medios de Comunicacion SA		401		6,038
Banco de Sabadell SA		1,734		3,951
Bankinter SA		342		2,640
Distribuidora Internacional de Alimentacion SA		645		4,037
Duro Felguera SA		747		2,976
Ebro Foods SA		165		3,291
Enagas SA		159		4,463
Ence Energia y Celulosa SA		3,003		10,840
Faes Farma SA		882		2,449

Security	Shares		Value
Spain (continued)
Gamesa Corporacion Tecnologica SA		472	$	7,475
Grupo Catalana Occidente SA		111		3,445
Indra Sistemas SA		428		4,808
Melia Hotels International SA		398		5,726
NH Hotel Group SA(1)		562		3,407
Red Electrica Corp. SA		80		6,388
Tecnicas Reunidas SA		156		7,943
Viscofan SA		41		2,450
			$	97,929
Sweden — 1.6%
AAK AB		146	$	9,889
Atrium Ljungberg AB		326		4,497
Axfood AB		660		11,254
BillerudKorsnas AB		419		6,437
Clas Ohlson AB, Class B		452		8,366
Hexpol AB		1,220		13,087
Hufvudstaden AB, Class A		350		4,524
Husqvarna AB, Class B		690		5,028
Industrial & Financial Systems, Class B		150		5,031
Loomis AB, Class B		101		2,830
NIBE Industrier AB, Class B		174		4,904
Saab AB, Class B		366		8,826
Swedish Orphan Biovitrum AB(1)		1,121		14,756
Wallenstam AB, Class B		752		5,448
			$	104,877
Switzerland — 3.7%
Actelion, Ltd.		113	$	16,711
Barry Callebaut AG		7		7,825
Burckhardt Compression Holdings AG		18		6,799
Comet Holding AG		6		5,082
Emmi AG		18		5,966
Ems-Chemie Holding AG		19		9,254
Flughafen Zuerich AG		16		13,133
Forbo Holding AG		17		20,704
Galenica AG		5		5,692
Georg Fischer AG		7		4,668
Givaudan SA		12		22,322
Inficon Holding AG		14		4,157
Julius Baer Group, Ltd.		124		6,860
Kaba Holding AG		19		12,156
Kuoni Reisen Holding AG		21		5,836
Lindt & Spruengli AG PC		3		16,858
Logitech International SA		768		11,049

14 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Switzerland (continued)
Mobimo Holding AG		54	$	11,485
Schmolz & Bickenbach AG(1)		2,417		2,023
Sonova Holding AG		61		8,684
Temenos Group AG		174		6,378
U-Blox AG		32		6,736
Valora Holding AG		24		4,665
Vontobel Holding AG		378		20,108
			$	235,151
Taiwan — 1.4%
Ability Enterprise Co., Ltd.		4,000	$	1,781
AcBel Polytech, Inc.		3,000		1,762
Center Laboratories, Inc.(1)		1,150		2,518
Chicony Electronics Co., Ltd.		3,045		7,904
China Bills Finance Corp.		8,000		2,863
China Synthetic Rubber Corp.		3,000		2,872
Feng Hsin Iron & Steel Co., Ltd.		2,000		2,299
Formosan Rubber Group, Inc.		3,000		2,074
Gloria Material Technology Corp.		4,000		2,046
Hota Industrial Manufacturing Co., Ltd.		2,059		6,100
Hu Lane Associate, Inc.		1,000		3,801
Kindom Construction Corp.		4,000		2,355
Kinpo Electronics, Inc.(1)		7,000		2,203
Merry Electronics Co., Ltd.		1,000		1,453
Micro-Star International Co., Ltd.		2,000		1,838
MIN AIK Technology Co., Ltd.		1,000		2,100
Oriental Union Chemical Corp.		2,000		1,316
Ruentex Development Co., Ltd.		2,000		2,531
ScinoPharm Taiwan, Ltd.		2,163		2,296
Shin Kong No. 1 REIT		8,000		3,570
Silicon Motion Technology Corp. ADR		235		6,185
Standard Foods Corp.		3,760		11,372
TA Chen Stainless Pipe Co., Ltd.		5,000		2,553
Taiwan Paiho, Ltd.		3,000		6,268
Taiwan Sogo Shin Kong SEC		3,030		3,596
Xxentria Technology Materials Corp.		1,700		4,636
			$	90,292
Thailand — 0.4%
Bangkok Chain Hospital PCL(4)		10,700	$	2,080
Central Plaza Hotel PCL(4)		2,900		3,066
Energy Absolute PCL(4)		4,800		2,915
Hana Microelectronics PCL(4)		2,700		2,489
Sino Thai Engineering & Construction PCL(4)		5,900		3,867
STP & I PCL(4)		5,280		2,234

Security	Shares		Value
Thailand (continued)
Thai Vegetable Oil PCL(4)		4,200	$	2,919
TTW PCL(4)		10,400		3,393
			$	22,963
Turkey — 0.4%
Akcansa Cimento AS		449	$	2,541
Aksa Akrilik Kimya Sanayii AS		746		2,978
Aksa Enerji Uretim AS(1)		2,157		2,300
Asya Katilim Bankasi AS(1)		4,925		1,474
Bizim Toptan Satis Magazalari AS		234		1,039
Cimsa Cimento Sanayi ve Ticaret AS		416		2,373
Eczacibasi Ilac Sanayi ve Ticaret AS		2,706		2,619
Net Holding AS(1)		2,214		2,619
Tekfen Holding AS		1,505		2,287
Turkiye Sinai Kalkinma Bankasi AS		5,898		3,712
			$	23,942
United Kingdom — 6.9%
3i Group PLC		514	$	4,434
A.G. BARR PLC		416		3,669
Abcam PLC		1,181		10,777
Aveva Group PLC		248		8,529
Babcock International Group PLC		290		4,487
Beazley PLC		1,650		8,688
Berkeley Group Holdings PLC		215		11,291
Betfair Group PLC		236		10,254
Booker Group PLC		5,528		15,434
Britvic PLC		734		7,854
BTG PLC(1)		1,108		11,297
Cable & Wireless Communication PLC		5,515		5,510
Capital & Counties Properties PLC		1,928		13,876
Cobham PLC		810		3,300
Cranswick PLC		187		4,818
Croda International PLC		186		8,820
CSR PLC		499		6,996
Dairy Crest Group PLC		556		5,009
De La Rue PLC		149		1,174
Direct Line Insurance Group PLC		669		3,818
Domino’s Pizza Group PLC		751		10,524
Drax Group PLC		1,056		4,915
Dunelm Group PLC		551		7,707
Elementis PLC		1,668		6,675
EnQuest PLC(1)		6,020		3,320
Essentra PLC		1,065		15,161
Fidessa Group PLC		343		12,846

15 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
United Kingdom (continued)
Genus PLC		390	$	8,764
Greene King PLC		330		4,449
Hikma Pharmaceuticals PLC		585		21,854
Hunting PLC		682		5,454
Inmarsat PLC		1,893		26,214
International Game Technology(1)		112		2,218
International Personal Finance PLC		415		2,581
Jardine Lloyd Thompson Group PLC		485		7,865
Kcom Group PLC		4,622		6,819
Lancashire Holdings, Ltd.		182		1,831
Meggitt PLC		532		3,855
Micro Focus International PLC		746		16,271
Moneysupermarket.com Group PLC		1,776		8,122
N Brown Group PLC		997		4,942
Pace PLC		957		5,423
Pennon Group PLC		1,181		15,033
Premier Oil PLC(1)		1,512		3,152
Rentokil Initial PLC		1,494		3,430
Rexam PLC		971		8,428
Rightmove PLC		67		3,807
Rotork PLC		1,170		3,906
RPC Group PLC		335		3,557
Shaftesbury PLC		439		6,403
Soco International PLC		1,980		4,879
Tate & Lyle PLC		1,234		10,489
Telecom Plus PLC		424		8,031
Travis Perkins PLC		157		5,505
Ultra Electronics Holdings PLC		486		13,226
Victrex PLC		227		6,855
WH Smith PLC		163		4,019
			$	438,565
United States — 36.4%
ACI Worldwide, Inc.(1)		423	$	10,012
Acorda Therapeutics, Inc.(1)		311		10,686
Aegerion Pharmaceuticals, Inc.(1)		159		3,042
Akorn, Inc.(1)		217		10,006
Alaska Air Group, Inc.		398		30,148
Albemarle Corp.		228		12,358
Alexandria Real Estate Equities, Inc.		64		5,933
Alkermes PLC(1)		347		24,297
Alleghany Corp.(1)		17		8,264
Allegiant Travel Co.		139		29,569
ALLETE, Inc.		236		11,396
Alliance Data Systems Corp.(1)		37		10,176

Security	Shares		Value
United States (continued)
American Airlines Group, Inc.		500	$	20,050
Anworth Mortgage Asset Corp.		1,864		9,320
AptarGroup, Inc.		163		11,050
ARRIS Group, Inc.(1)		460		14,223
Arthur J. Gallagher & Co.		156		7,399
Aspen Technology, Inc.(1)		272		12,071
Athenahealth, Inc.(1)		135		18,895
Avance Gas Holding, Ltd.(2)		216		3,610
Avery Dennison Corp.		212		12,900
Avista Corp.		353		11,656
Balchem Corp.		168		9,521
Bemis Co., Inc.		251		11,187
Blackbaud, Inc.		170		10,397
Bonanza Creek Energy, Inc.(1)		221		1,726
Boston Beer Co., Inc. (The), Class A(1)		55		12,129
Bristow Group, Inc.		178		8,019
Buckle, Inc. (The)		403		17,825
Buffalo Wild Wings, Inc.(1)		53		10,366
C&J Energy Services, Ltd.(1)		199		1,920
Cabot Corp.		143		5,031
Cabot Microelectronics Corp.(1)		174		7,889
CACI International, Inc., Class A(1)		123		10,102
Calgon Carbon Corp.		468		8,279
Camden Property Trust		92		7,326
Capstead Mortgage Corp.		766		8,480
Casey’s General Stores, Inc.		116		11,857
Celldex Therapeutics, Inc.(1)		550		12,953
Cheesecake Factory, Inc. (The)		179		10,335
CLARCOR, Inc.		230		13,839
Cleco Corp.		226		12,301
Cloud Peak Energy, Inc.(1)		541		1,720
Cogent Communications Group, Inc.		170		5,404
CommVault Systems, Inc.(1)		113		4,234
Conn’s, Inc.(1)		216		7,456
Contango Oil & Gas Co.(1)		155		1,423
Convergys Corp.		361		9,065
Cornerstone OnDemand, Inc.(1)		308		11,106
Costar Group, Inc.(1)		126		25,363
Cracker Barrel Old Country Store, Inc.		93		14,126
CYS Investments, Inc.		918		7,124
Cytec Industries, Inc.		158		11,728
Delek US Holdings, Inc.		269		9,595
Diamondback Energy, Inc.(1)		238		16,017
Dril-Quip, Inc.(1)		90		5,257
El Paso Electric Co.		294		10,710
Endo International PLC(1)		300		26,262

16 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
United States (continued)
Energy XXI, Ltd.		270	$	478
Essex Property Trust, Inc.		47		10,571
Extra Space Storage, Inc.		125		9,190
Finish Line, Inc. (The), Class A		255		7,010
First Financial Bankshares, Inc.		218		7,408
First Republic Bank		139		8,867
FNF Group		259		10,124
Foot Locker, Inc.		400		28,220
Forum Energy Technologies, Inc.(1)		425		6,494
GNC Holdings, Inc., Class A		223		10,974
Government Properties Income Trust		229		3,955
Graphic Packaging Holding Co.		838		12,654
GulfMark Offshore, Inc., Class A		164		1,545
H.B. Fuller Co.		128		5,128
Haemonetics Corp.(1)		258		10,323
Hain Celestial Group, Inc. (The)(1)		306		20,802
Hanesbrands, Inc.		560		17,377
Hatteras Financial Corp.		385		6,260
Heartland Express, Inc.		465		9,918
Heartland Payment Systems, Inc.		306		19,064
Hecla Mining Co.		3,530		7,413
Helen of Troy, Ltd.(1)		259		22,735
Hibbett Sports, Inc.(1)		111		5,056
Hillenbrand, Inc.		397		11,259
Home BancShares, Inc.		139		5,535
HSN, Inc.		168		12,350
Hubbell, Inc., Class B		100		10,441
Hyster-Yale Materials Handling, Inc.		90		6,090
International Flavors & Fragrances, Inc.		102		11,790
Investors Bancorp, Inc.		1,167		14,214
J&J Snack Foods Corp.		95		11,244
j2 Global, Inc.		239		16,826
Jarden Corp.(1)		450		24,750
Jazz Pharmaceuticals PLC(1)		114		21,915
Kirby Corp.(1)		100		7,241
Lancaster Colony Corp.		72		6,711
Lear Corp.		200		20,814
Level 3 Communications, Inc.(1)		280		14,140
Lexicon Pharmaceuticals, Inc.(1)		556		4,693
Liberty TripAdvisor Holdings, Inc.(1)		200		5,858
Liberty Ventures(1)		200		8,296
Louisiana-Pacific Corp.(1)		446		6,574
Manhattan Associates, Inc.(1)		360		23,335
ManTech International Corp., Class A		190		5,664
MarketAxess Holdings, Inc.		69		6,748
Martin Marietta Materials, Inc.		79		12,389

Security	Shares		Value
United States (continued)
MAXIMUS, Inc.		265	$	18,076
Medicines Co. (The)(1)		366		11,489
Medidata Solutions, Inc.(1)		232		12,482
Mentor Graphics Corp.		364		9,497
MFA Financial, Inc.		1,138		8,569
Mid-America Apartment Communities, Inc.		71		5,704
Middleby Corp.(1)		160		19,632
Minerals Technologies, Inc.		155		10,036
Monro Muffler Brake, Inc.		242		15,306
Montpelier Re Holdings, Ltd.		86		3,668
MSCI, Inc.		113		7,702
Mueller Industries, Inc.		430		13,919
National Health Investors, Inc.		156		10,179
National Retail Properties, Inc.		72		2,676
Nektar Therapeutics(1)		1,272		16,040
New Jersey Resources Corp.		432		12,485
NewMarket Corp.		23		9,147
Nordic American Offshore, Ltd.(1)		5		36
Nordic American Tankers, Ltd.		661		9,928
Northwest Bancshares, Inc.		864		10,964
Northwest Natural Gas Co.		205		8,874
NorthWestern Corp.		292		15,721
Owens & Minor, Inc.		255		8,966
Packaging Corp. of America		175		12,388
PDC Energy, Inc.(1)		180		8,451
Piedmont Natural Gas Co., Inc.		304		11,555
Plantronics, Inc.		191		11,093
PNM Resources, Inc.		484		12,768
PolyOne Corp.		196		6,717
Portland General Electric Co.		361		13,000
Post Properties, Inc.		251		14,292
Primerica, Inc.		347		15,695
ProAssurance Corp.		250		12,073
Puma Biotechnology, Inc.(1)		106		9,604
RBC Bearings, Inc.(1)		197		13,347
Reinsurance Group of America, Inc.		62		5,984
Reliance Steel & Aluminum Co.		150		9,090
RenaissanceRe Holdings, Ltd.		53		5,687
Rite Aid Corp.(1)		2,585		23,032
RLI Corp.		236		13,034
Rollins, Inc.		540		15,660
Royal Gold, Inc.		129		6,504
RPM International, Inc.		247		11,577
Sanchez Energy Corp.(1)		218		1,598
Sanderson Farms, Inc.		48		3,456
Saul Centers, Inc.		131		6,796

17 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
United States (continued)
Schweitzer-Mauduit International, Inc.		204	$	8,099
Scorpio Tankers, Inc.		1,048		11,256
Seaboard Corp.(1)		3		10,425
Sealed Air Corp.		348		18,503
Seattle Genetics, Inc.(1)		340		16,276
SEI Investments Co.		139		7,410
SemGroup Corp., Class A		204		14,502
Sensient Technologies Corp.		197		13,473
Ship Finance International, Ltd.		148		2,476
Shutterstock, Inc.(1)		115		6,144
Signature Bank(1)		123		17,908
Signet Jewelers, Ltd.		200		24,244
Six Flags Entertainment Corp.		198		9,235
Snap-on, Inc.		100		16,480
Snyders-Lance, Inc.		250		8,130
SolarWinds, Inc.(1)		155		6,183
Sonoco Products Co.		253		10,444
Sovran Self Storage, Inc.	��	123		11,711
Spirit Airlines, Inc.(1)		277		16,570
SS&C Technologies Holdings, Inc.		338		22,994
Starwood Property Trust, Inc.		392		8,530
Starwood Waypoint Residential Trust		378		9,253
Stepan Co.		130		6,371
STERIS Corp.		177		12,236
Stone Energy Corp.(1)		320		1,853
SVB Financial Group(1)		48		6,869
SYNNEX Corp.		273		20,647
Take-Two Interactive Software, Inc.(1)		473		14,937
Tanger Factory Outlet Centers, Inc.		267		8,672
Targa Resources Corp.		207		18,309
Teledyne Technologies, Inc.(1)		189		19,594
Telephone & Data Systems, Inc.		500		14,705
Tennant Co.		189		11,304
TiVo, Inc.(1)		471		4,691
Towers Watson & Co., Class A		100		12,678
TreeHouse Foods, Inc.(1)		151		12,376
Tyler Technologies, Inc.(1)		74		10,326
UIL Holdings Corp.		264		12,656
Ulta Salon, Cosmetics & Fragrance, Inc.(1)		200		33,206
Ultimate Software Group, Inc.(1)		86		15,842
Universal Corp.		121		6,903
Vector Group, Ltd.		151		3,823
VEREIT, Inc.		676		5,922
ViaSat, Inc.(1)		101		6,262
W.R. Grace & Co.(1)		106		10,699
Wabtec Corp.		200		20,238

Security	Shares		Value
United States (continued)
Watsco, Inc.		124	$	15,902
Weis Markets, Inc.		197		8,307
West Pharmaceutical Services, Inc.		286		17,123
Westamerica Bancorporation		58		2,841
Western Refining, Inc.		423		18,680
WGL Holdings, Inc.		239		13,360
Whiting Petroleum Corp.(1)		92		1,885
Williams-Sonoma, Inc.		280		23,705
World Fuel Services Corp.		230		9,350
			$	2,312,591
Total Common Stocks (identified cost $5,857,185)			$	6,266,389

Equity-Linked Securities(2)(5) — 0.8%
Security	Maturity Date		Shares		Value
India — 0.8%
Aurobindo Pharma, Ltd.		12/4/18		257	$	3,040
Bharat Forge, Ltd.		11/2/16		242		4,329
Britannia Industries, Ltd.		10/17/17		88		4,328
Havells India, Ltd.		8/8/19		785		3,417
Hindustan Petroleum Corp., Ltd.		8/8/19		441		6,347
Jaiprakash Power Ventures, Ltd.		10/26/18		13,980		1,376
JSW Energy, Ltd.		10/26/18		2,310		3,028
Mahindra & Mahindra Financial Services		11/3/15		1,007		4,043
Marico, Ltd.		10/17/17		764		5,240
Mindtree, Ltd.		12/5/18		183		3,666
Pidilite Industries, Ltd.		8/8/19		599		5,212
Piramal Enterprises, Ltd.		12/3/18		260		3,731
Reliance Capital, Ltd.		10/26/18		293		1,782
Shree Cement, Ltd.		7/20/17		25		4,469
Total Equity-Linked Securities (identified cost $38,409)					$	54,008

18 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Rights(1) — 0.0%(6)
Security	Shares		Value
Canada — 0.0%(6)
Constellation Software, Inc., Exp. 9/15/15		24	$	4
Imperial Metals Corp., Exp. 8/20/15		302		5
Total Rights (identified cost $6)			$	9
Warrants (1) — 0.0%(6)
Security	Shares		Value
South Africa — 0.0%(6)
Adcock Ingram Holdings, Ltd., Exp. 7/26/19		45	$	27
Total Warrants (identified cost $0)			$	27
Short-Term Investments — 0.5%
Description	Interest (000’s omitted)		Value
Eaton Vance Cash Reserves Fund, LLC, 0.20%(7)	$	29	$	28,960
Total Short-Term Investments (identified cost $28,960)			$	28,960
Total Investments — 99.8% (identified cost $5,924,560)			$	6,349,393
Other Assets, Less Liabilities — 0.2%			$	10,668
Net Assets — 100.0%			$	6,360,061

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

ADR	–	American Depositary Receipt
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 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, 2015, the aggregate value of these securities is $77,034 or 1.2% of the Fund’s net assets.

⁽³⁾  For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 8).

⁽⁴⁾  Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits.

⁽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, 2015.

Currency Concentration of Portfolio
Currency	Percentage of Net Assets			Value
United States Dollar		39.3	%	$	2,500,501
Euro		15.1			960,859
Japanese Yen		7.9			502,762
British Pound Sterling		7.1			453,572
Hong Kong Dollar		4.2			268,303
Swiss Franc		3.8			238,967
Australian Dollar		3.4			218,102
Canadian Dollar		3.3			211,070
South Korean Won		3.3			209,884
Swedish Krona		1.6			104,877
Brazilian Real		1.5			92,789
New Taiwan Dollar		1.3			84,107
Other currency, less than 1% each		8.0			503,600
Total Investments		99.8	%	$	6,349,393
Sector Classification of Portfolio
Sector	Percentage of Net Assets			Value
Consumer Discretionary		13.2	%	$	842,216
Industrials		13.2			839,688
Financials		13.2			839,041
Information Technology		13.1			831,491
Materials		11.7			743,008
Health Care		11.3			723,302
Consumer Staples		9.6			609,798
Utilities		5.7			362,538
Energy		5.4			346,494
Telecommunication Services		2.9			182,857
Short-Term Investments		0.5			28,960
Total Investments		99.8	%	$	6,349,393

19 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Statement of Assets and Liabilities (Unaudited)

Assets	July 31, 2015
Unaffiliated investments, at value (identified cost, $5,895,600)	$	6,320,433
Affiliated investment, at value (identified cost, $28,960)		28,960
Cash		4,032
Foreign currency, at value (identified cost, $21,724)		21,069
Dividends receivable		5,598
Interest receivable from affiliated investment		4
Tax reclaims receivable		1,783
Receivable from affiliates		19,675
Total assets	$	6,401,554
Liabilities
Payable to affiliate:
Investment adviser and administration fee	$	3,777
Accrued expenses		37,716
Total liabilities	$	41,493
Net Assets	$	6,360,061
Sources of Net Assets
Paid-in capital	$	5,825,522
Accumulated net realized gain		62,670
Accumulated undistributed net investment income		47,826
Net unrealized appreciation		424,043
Net Assets	$	6,360,061
Institutional Class
Net Assets	$	6,360,061
Shares Outstanding		579,287
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	10.98

20 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Statement of Operations (Unaudited)

Investment Income	Six Months Ended July 31, 2015
Dividends (net of foreign taxes, $6,765)	$	87,063
Interest allocated from affiliated investment		17
Expenses allocated from affiliated investment		(1	)
Total investment income	$	87,079
Expenses
Investment adviser and administration fee	$	22,074
Trustees’ fees and expenses		426
Custodian fee		23,074
Transfer and dividend disbursing agent fees		210
Legal and accounting services		43,688
Printing and postage		5,662
Registration fees		10,010
Miscellaneous		6,218
Total expenses	$	111,362
Deduct —
Allocation of expenses to affiliates	$	84,559
Total expense reductions	$	84,559
Net expenses	$	26,803
Net investment income	$	60,276
Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions	$	63,805
Foreign currency transactions		(634	)
Net realized gain	$	63,171
Change in unrealized appreciation (depreciation) —
Investments	$	279,680
Foreign currency		(87	)
Net change in unrealized appreciation (depreciation)	$	279,593
Net realized and unrealized gain	$	342,764
Net increase in net assets from operations	$	403,040

21 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
From operations —
Net investment income	$	60,276		$	73,814
Net realized gain from investment and foreign currency transactions		63,171			468,137
Net change in unrealized appreciation (depreciation) from investments and foreign currency		279,593			(387,606	)
Net increase in net assets from operations	$	403,040		$	154,345
Distributions to shareholders —
From net investment income	$	—		$	(86,097	)
From net realized gain		(22,227	)		(441,916	)
Total distributions to shareholders	$	(22,227	)	$	(528,013	)
Transactions in shares of beneficial interest —
Net asset value of shares issued to shareholders in payment of distributions declared	$	22,227		$	528,013
Cost of shares redeemed		(25,000	)		(8,353	)
Net increase (decrease) in net assets from Fund share transactions	$	(2,773	)	$	519,660
Net increase in net assets	$	378,040		$	145,992
Net Assets
At beginning of period	$	5,982,021		$	5,836,029
At end of period	$	6,360,061		$	5,982,021
Accumulated undistributed (distributions in excess of) net investment income included in net assets
At end of period	$	47,826		$	(12,450	)

22 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

Financial Highlights

	Institutional Class
	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31,						Period Ended January 31, 2013(1)
				2015			2014
Net asset value — Beginning of period	$	10.320		$	11.010		$	10.420		$	10.000
Income (Loss) From Operations
Net investment income(2)	$	0.104		$	0.138		$	0.181		$	0.006
Net realized and unrealized gain		0.595			0.170			1.023			0.418
Total income from operations	$	0.699		$	0.308		$	1.204		$	0.424
Less Distributions
From net investment income	$	—		$	(0.163	)	$	(0.257	)	$	(0.004	)
From net realized gain		(0.039	)		(0.835	)		(0.357	)		—
Total distributions	$	(0.039	)	$	(0.998	)	$	(0.614	)	$	(0.004	)
Net asset value — End of period	$	10.980		$	10.320		$	11.010		$	10.420
Total Return(3)		6.76	%(4)		2.68	%		11.50	%		4.24	%(4)(5)
Ratios/Supplemental Data				��
Net assets, end of period (000’s omitted)	$	6,360		$	5,982		$	5,836		$	5,209
Ratios (as a percentage of average daily net assets):
Expenses(6)		0.85	%(7)		0.85	%		0.85	%		0.85	%(7)
Net investment income		1.91	%(7)		1.21	%		1.63	%		0.52	%(7)
Portfolio Turnover		3	%(4)		49	%		38	%		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 2.68%, 2.48%, 2.86% and 10.98% of average daily net assets for the six months ended July 31, 2015, the years ended January 31, 2015 and 2014 and the period ended January 31, 2013, respectively). Absent this subsidy, total return would have been lower.

⁽⁷⁾  Annualized.

23 See Notes to Financial Statements.

Parametric Global Small-Cap Fund

July 31, 2015

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’s investment objective is to seek long-term capital appreciation. The Fund’s shares are offered to institutional investors and are sold 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 (U.S. GAAP). The Fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946.

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

Equity Securities.  Equity securities 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. Equity-linked securities are generally valued based on the value of the underlying equity security or instrument.

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 based on available market quotations provided by a third party pricing service.

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, 2015, 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.

24

Parametric Global Small-Cap Fund

July 31, 2015

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  Equity-Linked Securities — Equity-linked securities are primarily used as an alternative means to more efficiently and effectively access the securities markets of emerging market countries and may also be known as participation notes, equity swaps, and zero strike calls and warrants. Equity-linked securities are privately issued securities whose investment results are designed to correspond generally to the performance of a specified stock index or “basket” of stocks, or a single stock. The Fund deposits an amount of cash with its custodian (or broker, if legally permitted) in an amount near or equal to the selling price of the underlying security in exchange for an equity-linked security. Upon sale, the Fund receives cash from the broker or custodian equal to the current value of the underlying security, less transactional costs. Aside from market risk of the underlying security, there is the risk that the issuer of an equity-linked security may default on its obligation under the security. In addition, the Fund may be unable to close out such a transaction with the other party or obtain an offsetting position with any other party, at any time prior to the end of the term of the underlying agreement. Income received on equity-linked securities is recorded as dividend income.

I  Use of Estimates — The preparation of the financial statements in conformity with U.S. GAAP 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.

J  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.

K  Interim Financial Statements — The interim financial statements relating to July 31, 2015 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 and Income Tax Information

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. Distributions to shareholders are determined in accordance with income tax regulations, which may differ from U.S. GAAP. As required by U.S. GAAP, only distributions in excess of tax basis earnings and profits are reported in the financial statements as a return of capital. As required by U.S. GAAP, only distributions in excess of tax basis earnings and profits are 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.

25

Parametric Global Small-Cap Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2015, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	5,937,450
Gross unrealized appreciation	$	1,279,886
Gross unrealized depreciation		(867,943	)
Net unrealized appreciation	$	411,943

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, 2015, the investment adviser and administration fee amounted to $22,074 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, 2016. Pursuant to this agreement, EVM and Parametric were allocated $84,559 in total of the Fund’s operating expenses for the six months ended July 31, 2015.

EVM provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended July 31, 2015, EVM earned $12 from the Fund pursuant to such agreement, which is included in transfer and dividend disbursing agent fees on the Statement of Operations.

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, 2015, 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 $162,932 and $174,421, respectively, for the six months ended July 31, 2015.

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:

Institutional Class	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
Sales		—			—
Issued to shareholders electing to receive payments of distributions in Fund shares		1,952			50,528
Redemptions		(2,370	)		(735	)
Net increase (decrease)		(418	)		49,793

At July 31, 2015, an affiliate of EVM owned 99.3% of the outstanding shares of the Fund.

26

Parametric Global Small-Cap Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

6  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.

7  Line of Credit

The Fund participates with other portfolios and funds managed by EVM and its affiliates in a $750 million unsecured line of credit agreement with a group of banks, which is in effect through September 7, 2015. 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, 2015.

On September 4, 2015, the Fund renewed its line of credit agreement, which expires September 2, 2016. Under the terms of the renewed credit agreement, the commitment amount was reduced to $625 million and the commitment fee on the unused portion of the line of credit was changed to an annual rate of 0.10%.

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

• 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.

27

Parametric Global Small-Cap Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

At July 31, 2015, 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	$	42,838	$	1,452,345		$	0	$	1,495,183
Developed Europe		24,934		1,847,261			—		1,872,195
Developed Middle East		1,346		29,686			—		31,032
Emerging Europe		13,292		117,704			—		130,996
Latin America		165,901		—			—		165,901
Middle East/Africa		391		50,649			0		51,040
North America		2,520,042		—			—		2,520,042
Total Common Stocks	$	2,768,744	$	3,497,645	**	$	0	$	6,266,389
Equity-Linked Securities - India	$	—	$	54,008		$	—	$	54,008
Rights		9		—			—		9
Warrants		27		—			—		27
Short-Term Investments		—		28,960			—		28,960
Total Investments	$	2,768,780	$	3,580,613		$	0	$	6,349,393

* 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, 2015 is not presented. At July 31, 2015, the value of investments transferred between Level 1 and Level 2 during the six months then ended was not significant.

28

Parametric Global Small-Cap Fund

July 31, 2015

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 registered investment companies advised, administered and/or distributed by Eaton Vance Management or its affiliates (the “Eaton Vance Funds”) held on April 27, 2015, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing investment 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 its Contract Review Committee, 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 2015. The Contract Review Committee also considered information received at prior meetings of the Board and its committees, as relevant to its annual evaluation of the investment advisory and sub-advisory agreements.

The information that the Board considered included, among other things, the following:

Information about Fees, Performance and Expenses

• A report from an independent data provider comparing the advisory and related fees paid by each fund with fees paid by comparable funds as identified by the data provider (“comparable funds”);

• A report from an independent data provider comparing each fund’s total expense ratio and its components to comparable funds;

• A report from an independent data provider 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 identified by the adviser in consultation with the Board;

• 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 it employs;

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

• Information about the allocation of brokerage transactions 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 policies with respect to “soft dollars”;

• Data relating to portfolio turnover rates of each fund;

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;

• The Code of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

• Policies and procedures relating to proxy voting and the handling of corporate actions and class actions;

• Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates (including descriptions of various compliance programs) and their record of compliance;

• 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;

29

Parametric Global Small-Cap Fund

July 31, 2015

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 investment advisory agreement.

Over the course of the twelve-month period ended April 30, 2015, with respect to one or more funds, the Board met nine 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, seventeen, seven, eleven 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, and 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. In addition to the formal meetings of the Board and its Committees, the Independent Trustees hold regular teleconferences in between meetings to discuss, among other topics, matters relating to the continuation of investment advisory and sub-advisory agreements.

For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of investment 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 investment advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment 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 investment advisory and sub-advisory agreement. In evaluating each investment advisory and sub-advisory agreement, including the specific fee structures and other terms of the agreements, the Contract Review Committee was informed by multiple years of analysis and discussion among the Independent Trustees and the Eaton Vance Funds’ advisers and sub-advisers.

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 Global Small-Cap 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 the Adviser, 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, including recent changes to such personnel. With respect to the Adviser, the Board considered the Adviser’s responsibilities supervising the Sub-adviser. The Board evaluated, where relevant, the abilities and experience of the Sub-adviser’s experience employing a top-down, disciplined investment processes that emphasizes broad exposure and diversification. The Board also took into account the resources dedicated to portfolio management and other services, as well as the compensation methods of the Adviser and other factors, such as the reputation and resources of the Adviser to recruit and retain investment personnel. In addition, the Board considered the time and attention devoted to the Fund by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the management of the Fund, including the provision of administrative services.

The Board considered 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,

30

Parametric Global Small-Cap Fund

July 31, 2015

Board of Trustees’ Contract Approval — continued

frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also considered 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.

The Board considered shareholder and other administrative services provided or managed by the Adviser 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 that of comparable funds and appropriate benchmark indices. The Board’s review included comparative performance data for the one-year period ended September 30, 2014 for the Fund. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board considered contractual fee rates payable by the Fund for advisory and administrative services (referred to collectively as “management fees”). As part of its review, the Board considered the Fund’s management fees and total expense ratio for the year ended September 30, 2014, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. 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 fund complex level.

After considering 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 considered 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.

31

Parametric Global Small-Cap Fund

July 31, 2015

Officers and Trustees

Officers of Parametric Global Small-Cap Fund

Payson F. Swaffield

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

Thomas E. Faust Jr.*

Cynthia E. Frost

George J. Gorman

Valerie A. Mosley

William H. Park

Helen Frame Peters

Susan J. Sutherland**

Harriett Tee Taggart

* Interested Trustee

** Ms. Sutherland began serving as a Trustee effective May 1, 2015.

32

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 1-800-260-0761, 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 1-800-260-0761 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 1-800-260-0761 and by accessing the SEC’s website at www.sec.gov.

33

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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

State Street Financial Center, One Lincoln Street

Boston, MA 02111

Transfer Agent

BNY Mellon Investment Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 260-0761

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.

7790    7.31.15

Parametric International Equity Fund

Semiannual Report

July 31, 2015

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. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor.

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 1-800-260-0761.

Semiannual Report July 31, 2015

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	30
Officers and Trustees	33
Important Notices	34

Parametric International Equity Fund

July 31, 2015

Performance^1,2

Portfolio Managers Thomas Seto and Paul Bouchey, CFA, 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		7.09	%		0.76	%		7.73	%		6.39	%
Institutional Class at NAV		04/01/2010		04/01/2010		7.26			0.99			8.00			6.66
MSCI EAFE Index		—		—		7.19	%		–0.28	%		8.01	%		6.29	%
% Total Annual Operating Expense  Ratios3											Investor Class			Institutional Class
Gross												1.19	%		0.94	%
Net												0.90			0.65

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 eatonvance.com.

2

Parametric International Equity Fund

July 31, 2015

Fund Profile

Sector Allocation (% of net assets)⁴

Geographic Allocation (% of common stocks)

Top 10 Holdings (% of net assets)⁴

Vodafone Group PLC	1.1	%
Nestle SA	1.1
Novartis AG	1.0
Royal Dutch Shell PLC, Class A	0.8
National Grid PLC	0.8
Iliad SA	0.8
Telstra Corp., Ltd.	0.8
Compagnie Financiere Richemont SA, Class A	0.8
Deutsche Telekom AG	0.8
Total SA	0.7
Total	8.7	%

See Endnotes and Additional Disclosures in this report.

3

Parametric International Equity Fund

July 31, 2015

Endnotes and Additional Disclosures

¹  MSCI EAFE Index is an unmanaged index of equities in the developed markets, excluding the U.S. and Canada. MSCI indexes 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. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

³  Source: Fund prospectus. Net expense ratio reflects a contractual expense reimbursement that continues through 8/10/16. Without the reimbursement, if applicable, 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, 2015

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, 2015 – July 31, 2015).

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 (2/1/15)		Ending Account Value (7/31/15)		Expenses Paid During Period* (2/1/15 – 7/31/15)			Annualized Expense Ratio
Actual
Investor Class	$	1,000.00	$	1,070.90	$	4.62	**		0.90	%
Institutional Class	$	1,000.00	$	1,072.60	$	3.34	**		0.65	%
Hypothetical
(5% return per year before expenses)
Investor Class	$	1,000.00	$	1,020.30	$	4.51	**		0.90	%
Institutional Class	$	1,000.00	$	1,021.60	$	3.26	**		0.65	%

* 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, 2015.

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

5

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited)

Common Stocks — 99.4%
Security	Shares		Value
Australia — 7.9%
AGL Energy, Ltd.		27,033	$	328,945
Amalgamated Holdings, Ltd.		3,962		36,478
Amcor, Ltd.		10,892		114,449
Ansell, Ltd.		2,656		48,551
APA Group		44,180		292,320
APN News & Media, Ltd.(1)		27,358		14,261
ARB Corp., Ltd.		2,740		28,416
Ardent Leisure Group		12,741		22,493
Aristocrat Leisure, Ltd.		13,434		84,033
Asciano, Ltd.		19,164		113,761
Aurizon Holdings, Ltd.		9,545		36,895
AusNet Services		38,579		39,191
Australia and New Zealand Banking Group, Ltd.		8,138		194,079
Automotive Holdings Group, Ltd.		8,319		26,707
Beach Energy, Ltd.		39,630		28,120
Bega Cheese, Ltd.		6,296		21,861
BHP Billiton, Ltd.		23,969		462,779
Boral, Ltd.		6,180		29,936
Brambles, Ltd.		25,682		203,719
Breville Group, Ltd.		3,592		17,916
Caltex Australia, Ltd.		5,221		131,523
Cardno, Ltd.		9,576		20,027
carsales.com, Ltd.		10,059		79,626
Coca-Cola Amatil, Ltd.		12,701		85,984
Commonwealth Bank of Australia		4,269		272,594
Computershare, Ltd.		18,612		167,883
CSL, Ltd.		8,437		609,507
CSR, Ltd.		13,956		38,083
Dexus Property Group		10,799		61,282
Domino’s Pizza Enterprises, Ltd.		1,673		49,342
Drillsearch Energy, Ltd.(1)		92,745		59,815
DUET Group		43,561		69,995
Echo Entertainment Group, Ltd.		16,693		61,120
ERM Power, Ltd.		12,209		19,187
Federation Centres		34,152		74,744
Goodman Group		4,772		22,758
GPT Group (The)		15,885		53,395
GrainCorp, Ltd., Class A		8,239		53,653
GUD Holdings, Ltd.		3,393		23,167
GWA Group, Ltd.		11,240		19,912
Harvey Norman Holdings, Ltd.		24,339		79,167
Healthscope, Ltd.		21,535		43,015
Incitec Pivot, Ltd.		11,121		29,383
Invocare, Ltd.		3,082		30,399

Security	Shares		Value
Australia (continued)
IRESS, Ltd.		9,077	$	68,873
iSentia Group, Ltd.		12,985		33,073
James Hardie Industries PLC CDI		4,080		56,426
JB Hi-Fi, Ltd.		2,369		33,381
Macquarie Atlas Roads Group		13,855		34,571
McMillan Shakespeare, Ltd.		2,231		23,200
Mirvac Group		42,165		58,090
Myer Holdings, Ltd.		43,985		40,337
MYOB Group, Ltd.(1)		20,236		52,373
National Australia Bank, Ltd.		2,718		68,980
Navitas, Ltd.		7,563		22,774
New Hope Corp., Ltd.		11,960		16,700
Newcrest Mining, Ltd.(1)		6,314		52,227
Nine Entertainment Co. Holdings, Ltd.		20,195		22,539
Oil Search, Ltd.		25,401		138,187
Origin Energy, Ltd.		21,736		179,857
Orora, Ltd.		13,920		23,681
Premier Investments, Ltd.		3,446		33,548
Primary Health Care, Ltd.		7,957		26,716
Prime Media Group, Ltd.		32,363		15,350
Ramsay Health Care, Ltd.		3,014		147,014
Recall Holdings, Ltd.		7,050		36,968
Retail Food Group, Ltd.		8,090		31,500
Rio Tinto, Ltd.		3,174		121,936
SAI Global, Ltd.		7,632		24,993
Scentre Group		14,175		40,936
Sonic Healthcare, Ltd.		9,334		140,833
South32, Ltd.(1)		62,350		81,351
Southern Cross Media Group, Ltd.		25,786		18,162
Spark Infrastructure Group		43,233		61,051
Spotless Group Holdings, Ltd.		21,982		31,375
Stockland		7,062		21,889
STW Communications Group, Ltd.		74,259		40,954
Suncorp Group, Ltd.		8,470		88,172
Super Retail Group, Ltd.		3,746		25,212
Sydney Airport		30,374		124,372
Tabcorp Holdings, Ltd.		22,318		78,854
Tatts Group, Ltd.		45,995		133,575
Technology One, Ltd.		15,700		45,689
Telstra Corp., Ltd.		193,394		915,737
Tox Free Solutions, Ltd.		9,194		19,452
Transpacific Industries Group, Ltd.		55,685		28,804
Transurban Group		33,410		243,171
Treasury Wine Estates, Ltd.		8,985		37,756
Veda Group, Ltd.		21,772		38,913
Village Roadshow, Ltd.		4,552		21,334

6 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Australia (continued)
Vocus Communications, Ltd.		11,297	$	50,848
Washington H. Soul Pattinson & Co., Ltd.		5,073		50,789
Wesfarmers, Ltd.		13,792		426,884
Westfield Corp.		5,863		42,881
Westpac Banking Corp.		9,340		237,481
Whitehaven Coal, Ltd.(1)		54,939		47,963
Woodside Petroleum, Ltd.		14,034		364,907
Woolworths, Ltd.		18,499		385,939
			$	9,509,049
Austria — 1.0%
ams AG		4,147	$	179,828
Andritz AG		1,285		71,669
CA Immobilien Anlagen AG		1,562		28,091
Conwert Immobilien Invest SE(1)		2,111		25,630
DO & Co. AG		559		58,351
EVN AG		2,151		24,262
Flughafen Wien AG		562		48,499
Immofinanz AG(1)		26,800		65,824
Oesterreichische Post AG		1,018		45,480
OMV AG		5,459		145,075
Porr AG		788		23,097
Raiffeisen Bank International AG(1)		2,576		37,755
RHI AG		858		21,288
Schoeller-Bleckmann Oilfield Equipment AG		688		38,911
Telekom Austria AG		7,553		51,099
UNIQA Insurance Group AG		2,146		20,279
Verbund AG		6,179		95,692
Vienna Insurance Group		607		20,935
Voestalpine AG		3,799		162,888
			$	1,164,653
Belgium — 1.9%
Ackermans & van Haaren NV		418	$	63,919
Ageas		1,632		67,194
Agfa-Gevaert NV(1)		9,696		29,211
Anheuser-Busch InBev NV		3,174		379,235
Barco NV		628		41,557
Befimmo SCA Sicafi		400		25,345
Bekaert SA		730		21,343
bpost SA		4,751		134,451
Cofinimmo		337		36,203
Colruyt SA		793		38,500
Compagnie d’Entreprises CFE		570		76,061
D’Ieteren SA NV		858		31,389

Security	Shares		Value
Belgium (continued)
Econocom Group SA/NV		2,876	$	26,592
Elia System Operator SA NV		1,508		63,235
Euronav SA		2,461		37,594
EVS Broadcast Equipment SA		507		14,306
Fagron		1,218		57,206
Galapagos NV(1)		1,186		71,157
Groupe Bruxelles Lambert SA		1,247		102,907
Melexis NV		557		29,800
Nyrstar NV(1)		6,856		20,155
Ontex Group NV		1,200		36,450
Proximus		6,399		241,218
Sofina SA		347		40,003
Solvay SA		1,196		160,004
Telenet Group Holding NV(1)		3,343		188,683
Tessenderlo Chemie NV(1)		739		28,971
UCB SA		2,350		181,836
Umicore SA		1,929		84,506
			$	2,329,031
Denmark — 1.9%
A.P. Moller-Maersk A/S, Class A		39	$	64,461
A.P. Moller-Maersk A/S, Class B		54		91,994
Bakkafrost P/F		1,915		58,133
Carlsberg A/S, Class B		2,872		250,224
Chr Hansen Holding A/S		2,107		116,429
Coloplast A/S, Class B		475		34,275
Danske Bank A/S		7,600		237,610
DSV A/S		2,805		96,014
GN Store Nord A/S		898		18,266
ISS A/S		890		30,711
Matas AS		1,465		30,215
Novo Nordisk A/S, Class B		5,242		309,364
Novozymes A/S, Class B		5,006		261,671
Pandora A/S		2,848		320,695
Royal Unibrew A/S		945		30,925
SimCorp A/S		1,201		51,275
TDC A/S		26,972		203,470
Topdanmark A/S(1)		1,346		37,194
Tryg A/S		3,425		68,935
William Demant Holding A/S(1)		198		15,098
			$	2,326,959
Finland — 2.0%
Amer Sports Oyj		3,707	$	108,122
Elisa Oyj		8,462		284,895

7 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Finland (continued)
Fiskars Oyj Abp		2,200	$	46,933
Fortum Oyj		12,481		219,150
Huhtamaki Oyj		1,924		68,280
Kesko Oyj, Class B		5,825		226,729
Kone Oyj, Class B		2,308		96,859
Metsa Board Oyj		3,454		24,609
Neste Oyj		7,267		202,467
Nokia Oyj		29,895		211,696
Nokian Renkaat Oyj		2,076		62,388
Oriola-KD Oyj, Series B(1)		6,575		32,011
Orion Oyj, Class B		5,220		217,923
Sampo Oyj, Class A		4,572		226,226
Sanoma Oyj		6,906		25,264
Sponda Oyj		5,906		23,529
Tieto Oyj		900		23,045
UPM-Kymmene Oyj		7,890		145,742
Uponor Oyj		1,690		26,794
Valmet Oyj		2,592		30,676
Wartsila Oyj		1,458		67,016
			$	2,370,354
France — 7.9%
Accor SA		1,838	$	90,105
ADP		489		58,623
Air Liquide SA		5,622		732,070
Airbus Group SE		2,312		164,118
Alstom SA(1)		1,526		44,818
Alten SA		1,223		61,633
Altran Technologies SA		4,114		48,576
Atos		1,902		144,526
BNP Paribas SA		4,318		280,874
Bouygues SA		1,412		51,870
Cap Gemini SA		2,239		213,895
Christian Dior SE		490		101,355
CNP Assurances		2,298		38,622
Danone SA		4,390		297,828
Dassault Systemes SA		2,724		205,412
Edenred		900		22,433
Engie		33,939		650,865
Eramet(1)		796		52,424
Essilor International SA		1,353		173,292
Euler Hermes SA		307		31,984
Eurazeo SA		700		45,490
Eutelsat Communications SA		525		16,000
Fonciere des Regions		629		54,313
GameLoft SE(1)		5,348		25,292

Security	Shares		Value
France (continued)
Gecina SA		349	$	44,685
Groupe Eurotunnel SE		4,517		64,895
Hermes International		100		38,888
ICADE		448		33,213
Iliad SA		3,993		948,258
Imerys SA		1,811		136,442
Ingenico Group		1,085		142,117
Kering SA		354		68,172
Klepierre		1,536		69,886
Korian SA		564		20,102
L’Oreal SA		1,885		352,331
Lagardere SCA		1,608		48,090
Legrand SA		1,439		88,523
LVMH Moet Hennessy Louis Vuitton SE		1,313		245,608
Natixis SA		8,039		59,000
Neopost SA		1,240		49,810
Orpea		324		24,452
Pernod-Ricard SA		1,754		209,809
Publicis Groupe SA		996		75,325
Remy Cointreau SA		963		68,444
Rexel SA		1,252		19,717
Rubis SCA		2,785		200,171
Safran SA		1,656		125,377
Sanofi		6,770		729,746
SCOR SE		1,975		75,683
Societe BIC SA		432		73,972
Sodexo SA		863		80,380
Sopra Steria Group		432		41,273
Suez Environnement Co. SA		4,251		81,475
Technip SA		2,280		129,556
Thales SA		1,044		70,551
Total SA		17,486		862,811
Unibail-Rodamco SE		496		131,839
Vicat		726		53,993
Vinci SA		2,031		130,163
Vivendi SA		6,567		172,560
Wendel SA		480		63,911
Zodiac Aerospace		1,509		44,980
			$	9,482,626
Germany — 7.8%
Adidas AG		1,352	$	110,637
Allianz SE		2,469		404,453
alstria office REIT AG		2,172		30,000
BASF SE		5,928		512,266

8 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Germany (continued)
Bayer AG		4,855	$	716,969
Bayerische Motoren Werke AG		1,708		171,271
Bayerische Motoren Werke AG, PFC Shares		687		53,772
Beiersdorf AG		2,901		247,860
Bilfinger SE		1,287		53,157
Brenntag AG		2,480		137,913
Celesio AG		843		24,573
Continental AG		614		137,268
Deutsche Annington Immobilien SE		1,673		52,197
Deutsche Boerse AG		923		83,846
Deutsche EuroShop AG		619		27,666
Deutsche Telekom AG		49,948		903,182
Deutsche Wohnen AG		3,834		94,593
E.ON SE		54,364		717,946
Fraport AG		1,039		68,218
Fresenius Medical Care AG & Co. KGaA		1,217		99,578
Fresenius SE & Co. KGaA		1,869		129,327
Fuchs Petrolub SE, PFC Shares		490		21,295
Gerresheimer AG		360		26,491
Grand City Properties SA		1,598		27,627
Hannover Rueck SE		760		80,686
Henkel AG & Co. KGaA		1,664		167,825
Henkel AG & Co. KGaA, PFC Shares		4,002		474,421
Hugo Boss AG		623		75,119
Jenoptik AG		3,183		41,619
K&S AG		1,896		77,793
Kabel Deutschland Holding AG(1)		314		42,614
KION Group AG		588		26,945
Krones AG		267		30,781
KWS Saat SE		176		57,227
LANXESS AG		989		57,112
LEG Immobilien AG		453		32,966
Linde AG		1,381		260,641
MAN AG		882		91,967
Merck KGaA		594		60,448
MTU Aero Engines AG		1,070		98,546
Muenchener Rueckversicherungs-Gesellschaft AG		977		179,552
Nemetschek AG		1,372		50,760
Porsche Automobil Holding SE, PFC Shares		1,013		76,351
ProSiebenSat.1 Media SE		2,109		107,819
Rational AG		70		27,313
RWE AG		14,435		300,632
SAP SE		9,783		702,841
Siemens AG		4,885		523,408
Software AG		3,450		103,223
Stada Arzneimittel AG		691		26,598

Security	Shares		Value
Germany (continued)
Suedzucker AG		4,770	$	78,673
Symrise AG		1,375		91,420
TAG Immobilien AG		2,395		27,071
Talanx AG(1)		794		25,336
Telefonica Deutschland Holdings AG		18,638		115,595
TUI AG		1,983		34,063
Volkswagen AG		452		91,424
Volkswagen AG, PFC Shares		642		128,768
Wacker Chemie AG		535		53,719
Wirecard AG		2,865		113,519
			$	9,386,900
Hong Kong — 4.0%
AIA Group, Ltd.		27,200	$	177,274
Alibaba Health Information Technology, Ltd.(1)		86,000		79,765
ASM Pacific Technology, Ltd.		8,700		78,819
Bank of East Asia, Ltd. (The)		17,600		71,278
Bloomage BioTechnology Corp, Ltd.		10,000		18,073
BOC Hong Kong (Holdings), Ltd.		18,000		72,385
Brightoil Petroleum Holdings, Ltd.(1)		103,000		37,807
Cafe de Coral Holdings, Ltd.		6,000		21,045
Cathay Pacific Airways, Ltd.		11,000		25,999
Cheung Kong Infrastructure Holdings, Ltd.		14,000		121,468
Cheung Kong Property Holdings, Ltd.(1)		18,996		158,294
China Innovationpay Group, Ltd.(1)		484,000		42,429
China Regenerative Medicine International, Ltd.(1)		765,000		47,338
China Traditional Chinese Medicine Co., Ltd.(1)		68,000		51,431
Chow Sang Sang Holdings International, Ltd.		12,000		23,231
CK Hutchison Holdings, Ltd.		23,996		356,184
CLP Holdings, Ltd.		29,500		250,149
Dairy Farm International Holdings, Ltd.		12,600		104,134
Esprit Holdings, Ltd.		72,700		69,765
Fosun International, Ltd.		59,000		124,296
G-Resources Group, Ltd.		852,000		25,190
Galaxy Entertainment Group, Ltd.		30,000		137,953
GCL New Energy Holdings, Ltd.(1)		224,000		15,854
Global Brands Group Holdings, Ltd.(1)		126,000		27,922
Hang Lung Group, Ltd.		5,000		22,601
Hang Lung Properties, Ltd.		10,000		28,687
Hang Seng Bank, Ltd.		4,800		98,461
Hao Tian Development Group, Ltd.(1)		534,000		51,763
Henderson Land Development Co., Ltd.		6,050		39,998
HK Electric Investments & HK Electric Investments, Ltd.(2)		144,000		99,929
HKT Trust and HKT, Ltd.		140,000		170,418
Honbridge Holdings, Ltd.(1)		122,000		21,084
Hong Kong Exchanges and Clearing, Ltd.		3,700		100,492

9 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Hong Kong (continued)
Hongkong Land Holdings, Ltd.		4,000	$	30,776
Hopewell Holdings, Ltd.		19,500		67,269
IGG, Inc.		53,000		26,258
Jardine Matheson Holdings, Ltd.		2,800		152,071
Jardine Strategic Holdings, Ltd.		2,000		60,079
Kingston Financial Group, Ltd.		158,000		57,371
Kong Sun Holdings, Ltd.(1)		500,000		67,006
KuangChi Science, Ltd.(1)		135,000		34,392
Lee’s Pharmaceutical Holdings, Ltd.		9,500		15,981
Li & Fung, Ltd.		104,000		80,584
Lifestyle International Holdings, Ltd.		11,000		17,936
Link REIT (The)		19,000		111,702
Macau Legend Development, Ltd.(1)		79,000		21,474
Man Wah Holdings, Ltd.		15,600		14,016
MGM China Holdings, Ltd.		8,400		17,799
MTR Corp., Ltd.		19,000		84,588
NWS Holdings, Ltd.		17,000		25,421
Pacific Textiles Holdings, Ltd.		15,000		23,816
PAX Global Technology, Ltd.(1)		55,000		88,097
PCCW, Ltd.		187,000		111,907
Power Assets Holdings, Ltd.		25,500		240,032
Sands China, Ltd.		25,200		111,214
Shangri-La Asia, Ltd.		18,000		23,181
Sino Land Co., Ltd.		22,000		34,193
Sino Oil and Gas Holdings, Ltd.(1)		1,125,000		24,371
SJM Holdings, Ltd.		20,000		23,265
Stella International Holdings, Ltd.		9,500		25,594
Sun Hung Kai Properties, Ltd.		5,000		76,724
Superb Summit International Group, Ltd.(1)(3)		230,000		0
Swire Pacific, Ltd., Class A		3,000		38,459
Television Broadcasts, Ltd.		4,600		24,241
Texwinca Holdings, Ltd.		18,000		21,765
Town Health International Medical Group, Ltd.		120,000		27,389
VTech Holdings, Ltd.		10,200		126,895
Wynn Macau, Ltd.		18,400		37,946
Yue Yuen Industrial Holdings, Ltd.		10,000		32,550
			$	4,747,878
Ireland — 2.0%
Bank of Ireland(1)		626,258	$	263,018
CRH PLC		12,123		358,559
Dalata Hotel Group PLC(1)		11,357		52,161
DCC PLC		2,167		171,245
Dragon Oil PLC		11,128		127,332
FBD Holdings PLC		1,257		10,564
FleetMatics Group PLC(1)		5,094		243,850

Security	Shares		Value
Ireland (continued)
Fly Leasing, Ltd. ADR		2,161	$	32,501
Glanbia PLC		5,942		123,905
Grafton Group PLC		7,383		82,934
Green REIT PLC		16,052		26,999
Hibernia REIT PLC		16,439		23,720
ICON PLC(1)		5,014		405,131
Irish Continental Group PLC		7,510		36,063
Kenmare Resources PLC(1)		109,911		6,013
Kerry Group PLC, Class A		2,866		217,788
Paddy Power PLC		2,886		257,684
			$	2,439,467
Israel — 1.9%
Azrieli Group		575	$	23,872
Bank Hapoalim B.M.		20,465		113,787
Bezeq Israeli Telecommunication Corp., Ltd.		159,013		293,259
Caesarstone Sdot-Yam, Ltd.		936		67,149
Check Point Software Technologies, Ltd.(1)		2,200		177,694
Delek Automotive Systems, Ltd.		2,964		33,001
Delek Group, Ltd.		197		58,178
Elbit Systems, Ltd.		1,766		145,804
Gazit-Globe, Ltd.		2,355		27,789
Israel Chemicals, Ltd.		36,509		252,652
Israel Corp., Ltd.		199		70,202
Israel Discount Bank, Ltd., Series A(1)		37,711		76,156
Kenon Holdings, Ltd.(1)		1,393		21,876
Mizrahi Tefahot Bank, Ltd.		6,299		80,815
Mobileye NV(1)		1,314		78,971
NICE Systems, Ltd.		790		50,721
Oil Refineries, Ltd.(1)		99,305		41,000
Osem Investment, Ltd.		3,280		69,753
Paz Oil Co., Ltd.		774		124,803
Sarine Technologies, Ltd.		24,100		34,733
Shikun & Binui, Ltd.		24,887		58,293
SodaStream International, Ltd.(1)		1,340		24,053
Strauss Group, Ltd.(1)		2,832		44,634
Teva Pharmaceutical Industries, Ltd. ADR		5,102		352,140
Tower Semiconductor, Ltd.(1)		467		6,291
			$	2,327,626
Italy — 3.9%
Ansaldo STS SpA		6,279	$	64,978
Assicurazioni Generali SpA		7,144		140,789
Atlantia SpA		8,406		224,475
Autogrill SpA(1)		4,891		44,162

10 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Italy (continued)
Banca Monte dei Paschi di Siena SpA(1)		2,690	$	5,346
Banca Popolare di Milano Scarl		32,000		34,613
Banca Popolare di Sondrio Scarl		7,176		36,513
Brembo SpA		901		40,619
Brunello Cucinelli SpA		1,077		20,299
Buzzi Unicem SpA		8,143		139,013
CNH Industrial NV		16,821		150,961
Danieli & C Officine Meccaniche SpA, PFC Shares		1,258		19,865
Davide Campari-Milano SpA		13,191		105,550
De’Longhi SpA		1,326		32,317
DiaSorin SpA		1,861		85,481
Ei Towers SpA		915		58,774
Enel Green Power SpA		26,815		55,702
Enel SpA		77,818		365,663
ENI SpA		29,563		517,371
Esprinet SpA		1,400		12,365
EXOR SpA		1,603		80,656
Hera SpA		8,691		21,922
Industria Macchine Automatiche SpA		435		22,523
Interpump Group SpA		3,123		53,056
Intesa Sanpaolo SpA		61,330		236,129
Intesa Sanpaolo SpA, PFC Shares		8,400		28,037
Italcementi SpA		5,848		64,643
Italmobiliare SpA, PFC Shares		956		25,346
Luxottica Group SpA		1,955		141,770
Mediobanca SpA		7,502		81,757
Moncler SpA		2,119		43,057
Parmalat SpA		15,867		41,745
Pirelli & C. SpA		4,439		73,395
Prada SpA		7,400		34,059
Recordati SpA		6,078		151,378
Reply SpA		289		32,613
Saipem SpA(1)		2,600		22,690
Salini Impregilo SpA		11,163		53,265
Salvatore Ferragamo SpA		1,601		50,633
Snam SpA		22,478		110,611
Societa Iniziative Autostradali e Servizi SpA		2,008		23,626
Sorin SpA(1)		26,970		77,981
STMicroelectronics NV		28,651		224,262
Telecom Italia SpA(1)		456,478		604,882
Tenaris SA		5,074		64,137
Terna Rete Elettrica Nazionale SpA		16,318		76,105
Tiscali SpA(1)		95,908		6,381
Tod’s SpA		613		61,924
UnipolSai SpA		12,219		31,751
Yoox SpA(1)		851		28,758
			$	4,723,948

Security	Shares		Value
Japan — 15.7%
Aeon Co., Ltd.		7,100	$	108,493
Air Water, Inc.		3,000		52,041
Ajinomoto Co., Inc.		7,000		160,982
Alfresa Holdings Corp.		2,400		40,193
Asahi Glass Co., Ltd.		6,000		35,153
Asahi Group Holdings, Ltd.		4,400		147,462
Asahi Kasei Corp.		11,000		83,559
Asics Corp.		1,300		37,360
Astellas Pharma, Inc.		9,500		142,993
Bank of Kyoto, Ltd. (The)		3,000		35,374
Bank of Yokohama, Ltd. (The)		7,000		44,478
Bridgestone Corp.		2,400		90,468
Calbee, Inc.		1,500		66,837
Canon, Inc.		6,600		211,168
Central Japan Railway Co.		800		139,953
Chiba Bank, Ltd. (The)		7,000		55,776
Chubu Electric Power Co., Inc.		20,900		354,537
Chugai Pharmaceutical Co., Ltd.		3,000		109,125
Chugoku Bank, Ltd. (The)		2,000		31,240
Citizen Holdings Co., Ltd.		5,500		36,693
Coca-Cola West Co., Ltd.		3,200		64,456
Cosmo Oil Co., Ltd.(1)		52,000		84,212
Dai Nippon Printing Co., Ltd.		6,000		66,577
Daicel Corp.		4,000		54,216
Daido Steel Co., Ltd.		12,000		45,511
Daihatsu Motor Co., Ltd.		3,900		55,387
Daikin Industries, Ltd.		1,300		84,016
Daito Trust Construction Co., Ltd.		300		31,681
Daiwa House Industry Co., Ltd.		4,500		111,925
DeNA Co., Ltd.		2,800		55,626
Denki Kagaku Kogyo K.K.		9,000		37,427
Denso Corp.		2,600		128,871
Dentsu, Inc.		2,600		147,138
DIC Corp.		12,000		28,238
Disco Corp.		300		23,181
Dowa Holdings Co., Ltd.		5,000		47,508
East Japan Railway Co.		1,500		147,971
Eisai Co., Ltd.		2,000		130,530
Electric Power Development Co., Ltd.		4,300		148,616
FamilyMart Co., Ltd.		600		28,997
FANUC Corp.		600		100,072
Fast Retailing Co., Ltd.		200		98,939
Fuji Electric Co., Ltd.		9,000		37,208
FUJIFILM Holdings Corp.		3,600		142,771
Fujitsu, Ltd.		11,000		57,705
Fukuoka Financial Group, Inc.		7,000		35,975

11 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Japan (continued)
Hachijuni Bank, Ltd. (The)		5,000	$	38,803
Hamamatsu Photonics K.K.		2,200		57,214
Hankyu Hanshin Holdings, Inc.		8,000		50,536
Hirose Electric Co., Ltd.		400		47,715
Hiroshima Bank, Ltd. (The)		7,000		41,022
Hisamitsu Pharmaceutical Co., Inc.		800		29,082
Hitachi Chemical Co., Ltd.		1,500		26,524
Hitachi Metals, Ltd.		3,000		44,601
Hokkaido Electric Power Co., Inc.(1)		5,300		63,914
Hokuhoku Financial Group, Inc.		19,000		44,858
Hokuriku Electric Power Co.		4,600		70,713
Honda Motor Co., Ltd.		5,700		191,506
Hoya Corp.		2,800		118,407
Hulic Co., Ltd.		2,300		22,748
Ibiden Co., Ltd.		2,400		39,679
Idemitsu Kosan Co., Ltd.		3,200		58,819
INPEX Corp.		7,200		78,233
Isetan Mitsukoshi Holdings, Ltd.		3,600		65,489
ITOCHU Corp.		4,900		59,985
Iyo Bank, Ltd. (The)		6,000		76,284
Japan Airlines Co., Ltd.		1,000		37,729
Japan Exchange Group, Inc.		1,300		45,250
Japan Real Estate Investment Corp.		5		22,423
Japan Retail Fund Investment Corp.		17		33,324
Japan Tobacco, Inc.		6,900		267,835
JGC Corp.		2,000		34,156
Joyo Bank, Ltd. (The)		9,000		53,230
JSR Corp.		2,400		39,937
JX Holdings, Inc.		59,300		252,783
Kakaku.com, Inc.		2,000		31,790
Kaken Pharmaceutical Co., Ltd.		2,000		74,517
Kaneka Corp.		6,000		43,290
Kansai Electric Power Co., Inc. (The)(1)		12,600		170,847
Kansai Paint Co., Ltd.		4,000		65,109
KDDI Corp.		29,300		743,812
Keikyu Corp.		5,000		41,128
Keio Corp.		5,000		41,600
Kewpie Corp.		1,400		31,655
Keyence Corp.		300		151,121
Kikkoman Corp.		2,000		69,902
Kintetsu Group Holdings Co., Ltd.		12,000		42,747
Kirin Holdings Co., Ltd.		7,500		115,319
Kobayashi Pharmaceutical Co., Ltd.		700		54,909
Koito Manufacturing Co., Ltd.		1,800		70,715
Konami Corp.		2,400		50,052
Konica Minolta, Inc.		6,700		83,503

Security	Shares		Value
Japan (continued)
Kubota Corp.		6,000	$	102,616
Kuraray Co., Ltd.		3,500		41,261
Kyocera Corp.		2,000		102,979
Kyowa Hakko Kirin Co., Ltd.		5,000		81,359
Kyushu Electric Power Co., Inc.(1)		12,800		181,382
Lawson, Inc.		1,000		74,381
Lion Corp.		8,000		68,785
LIXIL Group Corp.		1,100		22,053
M3, Inc.		2,200		51,842
Makita Corp.		1,000		55,207
Marubeni Corp.		16,300		90,587
Maruichi Steel Tube, Ltd.		1,200		30,918
Matsumotokiyoshi Holdings Co., Ltd.		1,000		48,262
MEIJI Holdings Co., Ltd.		700		99,423
Miraca Holdings, Inc.		800		36,822
Mitsubishi Chemical Holdings Corp.		14,500		94,636
Mitsubishi Corp.		5,000		107,884
Mitsubishi Estate Co., Ltd.		4,000		88,830
Mitsubishi Gas Chemical Co., Inc.		10,000		55,473
Mitsubishi Materials Corp.		18,000		65,161
Mitsubishi Motors Corp.		7,000		59,508
Mitsubishi Tanabe Pharma Corp.		3,600		59,939
Mitsubishi UFJ Financial Group, Inc.		44,100		320,919
Mitsui & Co., Ltd.		5,400		70,066
Mitsui Chemicals, Inc.		14,000		52,437
Mitsui Fudosan Co., Ltd.		3,000		85,336
Mitsui O.S.K. Lines, Ltd.		8,000		23,993
Mizuho Financial Group, Inc.		69,700		151,982
Murata Manufacturing Co., Ltd.		1,100		162,968
NEC Corp.		15,000		47,907
NGK Spark Plug Co., Ltd.		1,900		50,297
NH Foods, Ltd.		2,000		48,611
Nidec Corp.		800		71,525
Nihon Kohden Corp.		1,200		26,619
Nikon Corp.		2,300		27,358
Nintendo Co., Ltd.		700		122,948
Nippon Building Fund, Inc.		14		62,566
Nippon Electric Glass Co., Ltd.		8,000		38,818
Nippon Express Co., Ltd.		6,000		31,718
Nippon Kayaku Co., Ltd.		4,000		40,520
Nippon Paint Holdings Co., Ltd.		2,000		57,324
Nippon Paper Industries Co., Ltd.		1,900		31,175
Nippon Shinyaku Co., Ltd.		2,000		66,703
Nippon Shokubai Co., Ltd.		3,000		44,306
Nippon Telegraph & Telephone Corp.		18,200		700,932
Nippon Yusen K.K.		16,000		43,737

12 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Japan (continued)
Nishi-Nippon City Bank, Ltd. (The)		8,000	$	24,295
Nissan Chemical Industries, Ltd.		2,000		43,860
Nissan Motor Co., Ltd.		9,100		86,582
Nisshin Seifun Group, Inc.		3,800		54,464
Nissin Foods Holdings Co., Ltd.		1,500		67,596
Nitori Holdings Co., Ltd.		400		35,860
Nitto Denko Corp.		2,100		158,934
Nomura Research Institute, Ltd.		900		36,915
NTT Data Corp.		2,200		105,114
NTT DoCoMo, Inc.		32,600		688,360
Obic Co., Ltd.		1,000		47,445
Odakyu Electric Railway Co., Ltd.		4,000		40,008
Okinawa Electric Power Co., Inc. (The)		1,300		32,483
Ono Pharmaceutical Co., Ltd.		1,100		132,526
Oracle Corp. Japan		1,400		58,919
Oriental Land Co., Ltd.		800		50,741
Osaka Gas Co., Ltd.		48,000		191,931
Otsuka Holdings Co., Ltd.		4,700		168,753
Pigeon Corp.		1,800		54,732
Rakuten, Inc.		2,500		40,175
Resona Holdings, Inc.		9,200		50,579
Ricoh Co., Ltd.		4,500		44,396
Rinnai Corp.		500		35,345
San-Ai Oil Co., Ltd.		4,000		27,924
Santen Pharmaceutical Co., Ltd.		5,500		80,916
Sawai Pharmaceutical Co., Ltd.		1,000		61,210
SECOM Co., Ltd.		1,500		100,914
Sekisui Chemical Co., Ltd.		2,000		22,190
Sekisui House, Ltd.		3,000		44,566
Seven Bank, Ltd.		9,500		45,246
Sharp Corp.(1)		20,000		26,464
Shimadzu Corp.		4,000		59,545
Shimamura Co., Ltd.		400		41,272
Shimano, Inc.		300		41,590
Shin-Etsu Chemical Co., Ltd.		3,200		191,360
Shionogi & Co., Ltd.		3,500		139,439
Shiseido Co., Ltd.		4,100		99,172
Shizuoka Bank, Ltd. (The)		7,000		79,069
Showa Denko K.K.		23,000		28,352
Showa Shell Sekiyu K.K.		6,200		58,222
SMC Corp.		200		50,664
Sumitomo Corp.		6,300		71,520
Sumitomo Metal Mining Co., Ltd.		8,000		107,562
Sumitomo Mitsui Financial Group, Inc.		4,300		193,904
Sumitomo Osaka Cement Co., Ltd.		12,000		44,991
Suntory Beverage & Food, Ltd.		1,200		50,691

Security	Shares		Value
Japan (continued)
Suruga Bank, Ltd.		3,800	$	81,597
Sysmex Corp.		2,200		142,363
Taiheiyo Cement Corp.		12,000		39,564
Taisho Pharmaceutical Holdings Co., Ltd.		1,400		93,939
Takashimaya Co., Ltd.		6,000		57,397
Takeda Pharmaceutical Co., Ltd.		4,800		241,494
TDK Corp.		700		48,947
TEIJIN, Ltd.		12,000		43,796
Toho Gas Co., Ltd.		21,000		125,453
Tokio Marine Holdings, Inc.		2,500		104,108
Tokyo Gas Co., Ltd.		56,000		302,352
Tokyu Corp.		7,000		51,443
Tokyu Fudosan Holdings Corp.		4,000		30,179
TonenGeneral Sekiyu K.K.		10,000		99,983
Toray Industries, Inc.		19,000		151,190
Toshiba Corp.		14,000		42,791
Tosoh Corp.		7,000		36,492
TOTO, Ltd.		3,000		48,832
Toyo Suisan Kaisha, Ltd.		1,400		52,901
Toyota Motor Corp.		7,400		492,764
Toyota Tsusho Corp.		1,100		27,883
Trend Micro, Inc.		1,500		54,903
Tsumura & Co.		1,300		27,255
Tsuruha Holdings, Inc.		600		52,675
Ube Industries, Ltd.		32,000		55,968
Unicharm Corp.		4,500		108,034
UNY Group Holdings Co., Ltd.		8,100		55,975
USS Co., Ltd.		2,100		36,875
West Japan Railway Co.		1,000		71,766
Yahoo! Japan Corp.		13,100		57,314
Yamaguchi Financial Group, Inc.		3,000		40,054
Yamato Holdings Co., Ltd.		1,600		35,461
Yamazaki Baking Co., Ltd.		2,000		31,862
Yokohama Rubber Co., Ltd. (The)		2,500		49,443
Zeon Corp.		6,000		58,131
			$	18,841,507
Netherlands — 3.9%
Aegon NV		12,684	$	97,562
Aercap Holdings NV(1)		1,800		84,312
Akzo Nobel NV		4,225		302,320
Altice SA(1)		1,339		169,031
AMG Advanced Metallurgical Group NV(1)		3,023		25,435
Arcadis NV		1,684		44,158
ASM International NV		1,283		57,689
ASML Holding NV		4,396		436,986

13 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Netherlands (continued)
AVG Technologies NV(1)		1,500	$	43,110
BE Semiconductor Industries NV		1,189		28,276
Constellium NV, Class A(1)		1,900		21,090
Euronext NV(2)		672		30,666
Fugro NV(1)		3,598		75,259
Gemalto NV		1,094		93,873
Heineken NV		1,487		116,937
IMCD Group NV		1,268		46,583
ING Groep NV		34,317		583,635
InterXion Holding NV(1)		1,200		33,144
Koninklijke Ahold NV		6,370		126,774
Koninklijke DSM NV		3,099		176,858
Koninklijke KPN NV		66,651		263,343
Koninklijke Philips NV		9,890		275,597
Koninklijke Vopak NV		1,811		94,609
NN Group NV		1,200		36,975
OCI NV(1)		716		23,981
QIAGEN NV(1)		5,257		147,504
Refresco Gerber NV(1)(2)		3,342		57,205
RELX NV		23,456		390,379
Royal Boskalis Westminster NV		1,167		57,017
Royal Imtech NV(1)		5,613		17,749
Sligro Food Group NV		1,664		63,982
TKH Group NV		660		28,321
Unilever NV		13,945		624,712
Wereldhave NV		361		21,343
			$	4,696,415
New Zealand — 1.0%
Argosy Property, Ltd.		60,306	$	44,385
Auckland International Airport, Ltd.		36,722		131,076
Contact Energy, Ltd.		19,502		63,707
Fisher & Paykel Healthcare Corp., Ltd.		16,073		79,521
Fletcher Building, Ltd.		17,578		91,853
Infratil, Ltd.		20,557		43,825
Kiwi Property Group, Ltd.		67,261		61,219
Mighty River Power, Ltd.		16,147		29,421
Nuplex Industries, Ltd.		8,690		26,086
Precinct Properties New Zealand, Ltd.		57,750		43,640
Ryman Healthcare, Ltd.		8,800		48,778
Sky Network Television, Ltd.		14,463		58,414
SKYCITY Entertainment Group, Ltd.		20,643		60,200
Spark New Zealand, Ltd.		69,611		135,951
Xero, Ltd.(1)		10,720		125,257
Z Energy, Ltd.		32,373		123,840
			$	1,167,173

Security	Shares		Value
Norway — 2.0%
Atea ASA		6,981	$	60,284
Austevoll Seafood ASA		5,049		26,256
Borregaard ASA		4,154		26,321
Det Norske Oljeselskap ASA(1)		3,543		21,720
DNB ASA		9,636		157,090
Gjensidige Forsikring ASA		3,579		57,512
Golar LNG, Ltd.		2,320		99,922
IDEX ASA(1)		37,361		45,682
Kongsberg Gruppen ASA		4,193		70,236
Leroy Seafood Group ASA		1,349		46,392
Nordic Semiconductor ASA(1)		2,982		19,051
Opera Software ASA		17,007		135,798
Orkla ASA		20,408		162,647
Prosafe SE		5,622		16,407
Salmar ASA		3,093		48,910
Schibsted ASA, Class A		4,165		145,526
Schibsted ASA, Class B(1)		4,165		136,140
SpareBank 1 SMN		4,478		34,668
SpareBank 1 SR-Bank ASA		4,300		25,526
Statoil ASA		7,015		118,263
Stolt-Nielsen, Ltd.		2,767		44,703
Subsea 7 SA(1)		3,900		34,169
Telenor ASA		14,444		317,277
Thin Film Electronics ASA(1)		44,255		22,743
Tomra Systems ASA		7,121		63,060
Veidekke ASA		8,955		99,639
XXL ASA(2)		4,976		55,161
Yara International ASA		5,175		257,478
			$	2,348,581
Portugal — 1.0%
Banco BPI SA(1)		20,010	$	22,688
Banco Comercial Portugues SA(1)		1,508,983		115,622
CTT-Correios de Portugal SA		12,934		133,348
EDP-Energias de Portugal SA		33,754		124,848
Galp Energia SGPS SA, Class B		13,624		157,567
Jeronimo Martins SGPS SA		13,128		195,110
Mota-Engil SGPS SA		5,885		15,631
NOS SGPS SA		18,782		158,934
Pharol SGPS SA(1)		189,661		70,663
Portucel SA		38,007		144,678
REN - Redes Energeticas Nacionais SGPS SA		6,664		19,969
			$	1,159,058

14 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Singapore — 1.9%
Ascendas Real Estate Investment Trust		33,000	$	58,182
Biosensors International Group, Ltd.(1)		39,000		19,766
Boustead Projects, Ltd.(1)		1,500		945
Boustead Singapore, Ltd.		5,000		4,377
CapitaLand Mall Trust		23,000		33,530
City Developments, Ltd.		4,500		30,626
ComfortDelGro Corp., Ltd.		28,000		61,446
Ezion Holdings, Ltd.		80,300		50,488
Ezra Holdings, Ltd.(1)		291,000		28,544
First Resources, Ltd.		15,000		20,752
Flextronics International, Ltd.(1)		20,712		228,039
Genting Singapore PLC		119,400		76,511
Global Logistic Properties, Ltd.		13,000		21,804
Golden Agri-Resources, Ltd.		236,400		54,250
Haw Par Corp, Ltd.		3,200		20,565
Keppel Corp., Ltd.		12,100		66,102
Keppel Infrastructure Trust		169,500		64,210
Midas Holdings, Ltd.		80,000		18,338
OSIM International, Ltd.		58,000		67,427
Oversea-Chinese Banking Corp., Ltd.		13,000		97,488
Pacific Radiance, Ltd.		38,400		11,306
Petra Foods, Ltd.		11,000		22,995
Raffles Medical Group, Ltd.		14,000		48,910
Religare Health Trust		54,000		41,532
Rex International Holding, Ltd.(1)		180,000		15,850
Sembcorp Industries, Ltd.		16,000		41,616
Sheng Siong Group, Ltd.		45,400		29,585
Singapore Airport Terminal Services, Ltd.		8,800		24,151
Singapore Exchange, Ltd.		8,300		48,254
Singapore Post, Ltd.		37,200		52,972
Singapore Press Holdings, Ltd.		53,100		161,779
Singapore Technologies Engineering, Ltd.		20,000		47,817
Singapore Telecommunications, Ltd.		90,400		269,991
StarHub, Ltd.		12,000		33,504
Suntec REIT		17,000		21,098
United Overseas Bank, Ltd.		6,000		97,131
UOL Group, Ltd.		4,700		22,962
Venture Corp., Ltd.		9,000		51,498
Wilmar International, Ltd.		75,700		176,523
			$	2,242,864
Spain — 3.9%
Abertis Infraestructuras SA		8,323	$	136,289
Acerinox SA		5,463		66,623
Aena SA(1)(2)		619		68,150
Almirall SA		2,500		49,165

Security	Shares		Value
Spain (continued)
Amadeus IT Holding SA, Class A		12,022	$	524,839
Banco de Sabadell SA		19,629		44,720
Banco Santander SA		46,504		321,562
Bankia SA		37,040		48,952
Bankinter SA		4,724		36,462
Bolsas y Mercados Espanoles SHMSF SA		760		31,386
CaixaBank SA		20,372		90,914
Cia de Distribucion Integral Logista Holdings SA		1,397		27,534
Construcciones y Auxiliar de Ferrocarriles SA		75		21,318
Distribuidora Internacional de Alimentacion SA		16,912		105,845
Ebro Foods SA		5,138		102,481
Enagas SA		2,646		74,278
Ence Energia y Celulosa SA		8,194		29,579
Faes Farma SA		11,377		31,590
Ferrovial SA		7,151		173,908
Gas Natural SDG SA		2,563		55,628
Grifols SA, Class A		5,596		247,284
Grifols SA, Class B, PFC Shares		4,595		149,731
Iberdrola SA		42,072		296,744
Industria de Diseno Textil SA		14,416		494,297
Laboratorios Farmaceuticos Rovi SA		1,344		20,286
Melia Hotels International SA		3,749		53,940
Prosegur Cia de Seguridad SA		6,773		35,869
Red Electrica Corp. SA		938		74,899
Repsol SA		24,256		407,656
Tecnicas Reunidas SA		1,676		85,340
Telefonica SA		34,418		527,928
Tubos Reunidos SA		9,481		13,232
Vidrala SA		694		34,061
Viscofan SA		1,814		108,408
Zardoya Otis SA		4,388		48,172
			$	4,639,070
Sweden — 3.9%
AAK AB		447	$	30,277
Alfa Laval AB		1,173		21,574
Assa Abloy AB, Class B		7,558		153,464
Atlas Copco AB, Class A		3,417		93,452
Axfood AB		1,472		25,101
Betsson AB		4,560		76,454
Bilia AB, Class A		2,460		49,447
BillerudKorsnas AB		7,160		109,990
BioGaia AB, Class B		1,123		36,439
Castellum AB		1,758		25,066
Clas Ohlson AB, Class B		3,000		55,524
Com Hem Holding AB		3,424		30,250

15 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Sweden (continued)
Elekta AB, Class B		25,757	$	170,873
Fingerprint Cards AB(1)		3,503		82,303
Granges AB		7,960		52,701
Hennes & Mauritz AB, Class B		9,753		388,045
Hexpol AB		14,655		157,203
Holmen AB, Class B		3,945		112,547
ICA Gruppen AB		1,318		48,100
Industrial & Financial Systems, Class B		1,025		34,378
Industrivarden AB, Class A		1,313		25,921
Investment AB Kinnevik, Class B		858		27,434
Investor AB, Class B		1,665		64,192
Lundin Petroleum AB(1)		7,983		115,738
Meda AB, Class A		13,150		214,288
Medivir AB, Class B(1)		11,060		117,358
NIBE Industrier AB, Class B		1,022		28,803
Nordea Bank AB		13,259		165,085
Sandvik AB		8,816		89,330
Securitas AB, Class B		2,566		36,834
Skanska AB, Class B		3,676		77,414
SKF AB, Class B		3,418		66,854
SSAB AB, Class A(1)		14,126		67,256
SSAB AB, Class B(1)		7,841		32,559
Svenska Cellulosa AB SCA, Class A		902		25,596
Svenska Cellulosa AB SCA, Class B		11,444		325,633
Svenska Handelsbanken AB, Class A		5,505		84,250
Swedbank AB, Class A		5,949		139,350
Swedish Match AB		4,007		122,734
Tele2 AB, Class B		8,730		90,857
Telefonaktiebolaget LM Ericsson, Class B		42,609		455,577
TeliaSonera AB		73,811		448,566
Tethys Oil AB		2,578		15,278
Unibet Group PLC SDR		577		37,056
Vitrolife AB		1,255		25,337
Wihlborgs Fastigheter AB		1,547		26,670
			$	4,679,158
Switzerland — 7.9%
ABB, Ltd.		24,150	$	491,211
Allreal Holding AG		213		30,443
Ascom Holding AG		3,183		57,704
Autoneum Holding AG		118		24,345
Baloise Holding AG		668		85,109
Banque Cantonale Vaudoise		88		57,052
Barry Callebaut AG		43		48,071
Belimo Holding AG		10		22,805
Berner Kantonalbank AG		118		22,580

Security	Shares		Value
Switzerland (continued)
Bucher Industries AG		171	$	41,688
Burckhardt Compression Holdings AG		110		41,549
Cembra Money Bank AG		435		26,490
Comet Holding AG		50		42,347
Compagnie Financiere Richemont SA, Class A		10,464		903,184
Daetwyler Holding AG		155		19,181
DKSH Holding AG		263		19,731
Dufry AG(1)		557		77,241
EFG International AG		2,974		34,634
Ems-Chemie Holding AG		429		208,955
Flughafen Zuerich AG		44		36,117
Forbo Holding AG		29		35,319
Gategroup Holding AG		975		36,025
Geberit AG		465		160,845
Givaudan SA		231		429,694
Helvetia Holding AG		91		49,935
Implenia AG		405		24,296
Inficon Holding AG		86		25,537
Julius Baer Group, Ltd.		1,792		99,133
Kaba Holding AG		62		39,667
Komax Holding AG		194		33,772
Kuehne & Nagel International AG		663		91,525
Kuoni Reisen Holding AG		68		18,899
LEM Holding SA		25		18,897
Leonteq AG		316		72,899
Lindt & Spruengli AG		1		66,753
Lindt & Spruengli AG PC		9		50,574
Logitech International SA		5,517		79,370
Luzerner Kantonalbank AG		71		26,116
Mobimo Holding AG		140		29,775
Nestle SA		17,148		1,297,247
Novartis AG		11,742		1,218,398
Panalpina Welttransport Holding AG		153		19,046
Pargesa Holding SA		707		47,492
Partners Group Holding AG		209		69,884
PSP Swiss Property AG		555		49,856
Roche Holding AG		600		171,700
Schindler Holding AG		363		58,986
Schindler Holding AG PC		772		124,341
Schmolz & Bickenbach AG(1)		42,451		35,531
SFS Group AG		281		19,877
SGS SA		62		118,269
Sika AG		47		170,393
Sonova Holding AG		815		116,023
Sulzer AG		269		27,622
Sunrise Communications Group AG(1)(2)		1,254		98,178

16 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
Switzerland (continued)
Swatch Group, Ltd. (The)		1,267	$	103,845
Swatch Group, Ltd. (The), Bearer Shares		601		258,831
Swiss Life Holding AG		339		79,986
Swiss Prime Site AG		635		50,586
Swiss Re AG		2,627		236,317
Swisscom AG		611		355,362
Syngenta AG		1,503		619,192
U-Blox AG		256		53,886
Valiant Holding AG		314		31,170
Valora Holding AG		105		20,411
Vontobel Holding AG		783		41,653
Zurich Insurance Group AG		1,002		305,119
			$	9,478,669
United Kingdom — 16.0%
3i Group PLC		4,683	$	40,396
AA PLC(1)		6,677		38,034
Abengoa Yield PLC		2,600		65,988
Admiral Group PLC		1,744		40,299
Aggreko PLC		3,797		71,121
Alent PLC		11,989		88,704
Anglo American PLC		14,725		185,667
Anite PLC		36,371		71,429
AstraZeneca PLC		10,904		736,114
Auto Trader Group PLC (1)(2)		16,829		88,804
Aveva Group PLC		1,989		68,407
Aviva PLC		16,931		137,669
Babcock International Group PLC		5,474		84,688
BAE Systems PLC		27,684		207,275
Berendsen PLC		1,722		27,505
Berkeley Group Holdings PLC		1,885		98,992
BHP Billiton PLC		21,927		402,748
BP PLC		33,808		208,248
British American Tobacco PLC		9,238		548,516
British Land Co. PLC (The)		6,863		90,005
Bunzl PLC		4,454		127,492
Burberry Group PLC		2,842		71,324
Capita PLC		6,789		138,204
Carillion PLC		13,709		73,996
Carnival PLC		2,140		118,616
Close Brothers Group PLC		2,061		46,704
Cobham PLC		15,469		63,026
Compass Group PLC		9,959		159,301
Computacenter PLC		3,234		38,375
Croda International PLC		2,328		110,391
CSR PLC		6,722		94,242

Security	Shares		Value
United Kingdom (continued)
Daily Mail & General Trust PLC, Class A		3,261	$	40,837
Derwent London PLC		788		44,672
Diageo PLC		12,937		362,660
Dignity PLC		1,144		43,633
Direct Line Insurance Group PLC		6,547		37,363
Dixons Carphone PLC		6,693		47,627
Drax Group PLC		36,743		171,030
easyJet PLC		1,477		37,895
Electrocomponents PLC		14,300		44,443
Essentra PLC		8,366		119,097
Experian PLC		9,946		186,474
Fidessa Group PLC		1,354		50,711
FirstGroup PLC(1)		21,263		38,253
Fresnillo PLC		6,349		64,039
G4s PLC		10,246		43,928
Galliford Try PLC		1,479		40,950
GlaxoSmithKline PLC		38,102		828,145
Glencore PLC		114,086		369,652
Grainger PLC		13,002		48,430
Great Portland Estates PLC		2,834		36,816
Greene King PLC		3,179		42,863
Halma PLC		12,223		144,332
Hammerson PLC		5,110		52,457
Hargreaves Lansdown PLC		4,354		81,283
Howden Joinery Group PLC		5,262		40,663
HSBC Holdings PLC		53,240		480,888
Imperial Tobacco Group PLC		5,807		304,731
Indivior PLC(1)		47,286		194,911
Inmarsat PLC		23,719		328,457
Innovation Group PLC		103,708		52,148
InterContinental Hotels Group PLC		1,851		77,746
International Game Technology PLC(1)		2,666		52,787
Intertek Group PLC		1,097		41,922
J Sainsbury PLC		32,881		135,824
Johnson Matthey PLC		2,211		100,494
Kingfisher PLC		14,107		79,464
Laird PLC		9,172		56,395
Land Securities Group PLC		5,329		107,926
Legal & General Group PLC		27,751		112,870
Lloyds Banking Group PLC		146,864		191,248
LondonMetric Property PLC		21,023		53,111
Lonmin PLC(1)		41,705		33,900
Marks & Spencer Group PLC		13,275		112,676
Marston’s PLC		18,673		45,475
Mears Group PLC		5,306		32,333
Meggitt PLC		9,721		70,441

17 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

Security	Shares		Value
United Kingdom (continued)
Merlin Entertainments PLC(2)		4,727	$	30,615
Micro Focus International PLC		4,308		93,962
Mitie Group PLC		5,570		27,982
Mondi PLC		2,542		61,021
Moneysupermarket.com Group PLC		20,202		92,382
National Grid PLC		71,537		952,067
NCC Group PLC		9,827		36,079
Next PLC		916		114,271
Oxford Instruments PLC		4,584		65,400
Pace PLC		12,497		70,819
Pearson PLC		4,832		90,679
Pennon Group PLC		12,929		164,578
Playtech PLC		6,421		90,778
Premier Farnell PLC		25,654		54,334
Provident Financial PLC		887		41,082
Randgold Resources, Ltd.		1,221		73,658
Reckitt Benckiser Group PLC		3,663		351,275
RELX PLC		7,191		125,403
Renishaw PLC		1,171		38,182
Rentokil Initial PLC		14,663		33,666
Restaurant Group PLC (The)		4,207		44,274
Rexam PLC		11,995		104,113
Rightmove PLC		1,755		99,719
Rolls-Royce Holdings PLC		12,754		157,840
Rotork PLC		16,830		56,184
Royal Dutch Shell PLC, Class A		34,589		991,437
Royal Dutch Shell PLC, Class B		26,445		765,717
Royal Mail PLC		6,802		53,586
RPC Group PLC		6,241		66,258
RSA Insurance Group PLC		10,493		84,157
Sage Group PLC (The)		35,041		284,782
SDL PLC		5,875		36,762
Segro PLC		8,230		57,623
Serco Group PLC		19,990		40,182
Sky PLC		6,095		108,353
Smiths Group PLC		4,467		78,608
South32, Ltd.(1)		19,353		24,707
Spirax-Sarco Engineering PLC		1,300		67,297
Spirent Communications PLC		34,304		50,034
Sports Direct International PLC(1)		3,723		45,979
SSE PLC		19,233		454,903
Standard Chartered PLC		7,172		109,664
Synergy Health PLC		6,312		171,590
TalkTalk Telecom Group PLC		38,654		181,715
Tate & Lyle PLC		14,341		121,897
Telecity Group PLC		5,845		99,748

Security	Shares		Value
United Kingdom (continued)
Travis Perkins PLC		2,151	$	75,422
TT Electronics PLC		18,160		42,079
UBM PLC		7,445		61,715
UNITE Group PLC (The)		4,128		40,645
United Utilities Group PLC		7,906		109,977
Victrex PLC		1,878		56,710
Vodafone Group PLC		362,450		1,372,959
Whitbread PLC		1,494		120,960
William Hill PLC		16,136		101,948
WM Morrison Supermarkets PLC		37,125		105,647
WS Atkins PLC		1,396		34,220
Xaar PLC		6,654		53,883
Xchanging PLC		20,955		31,825
			$	19,199,632
Total Common Stocks (identified cost $111,271,709)			$	119,260,618
Short-Term Investments — 0.3%
Description	Interest (000’s omitted)		Value
Eaton Vance Cash Reserves Fund, LLC, 0.20%(4)	$	396	$	395,875
Total Short-Term Investments (identified cost $395,875)			$	395,875
Total Investments — 99.7% (identified cost $111,667,584)			$	119,656,493
Other Assets, Less Liabilities — 0.3%			$	352,429
Net Assets — 100.0%			$	120,008,922

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
SDR	–	Swedish Depositary Receipt

⁽¹⁾  Non-income producing security.

⁽²⁾  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, 2015, the aggregate value of these securities is $528,708 or 0.4% of the Fund’s net assets.

⁽³⁾  For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 9).

18 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Portfolio of Investments (Unaudited) — continued

⁽⁴⁾  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, 2015.

Currency Concentration of Portfolio
Currency	Percentage of Net Assets			Value
Euro		34.1	%	$	40,892,910
British Pound Sterling		16.3			19,502,444
Japanese Yen		15.7			18,841,507
Swiss Franc		8.0			9,658,497
Australian Dollar		7.9			9,509,049
Swedish Krona		3.9			4,679,158
Hong Kong Dollar		3.7			4,434,877
United States Dollar		2.3			2,752,816
Norwegian Krone		1.9			2,306,792
Danish Krone		1.9			2,268,826
Singapore Dollar		1.7			2,049,558
Israeli Shekel		1.3			1,592,886
New Zealand Dollar		1.0			1,167,173
Total Investments		99.7	%	$	119,656,493

Sector Classification of Portfolio
Sector	Percentage of Net Assets			Value
Financials		12.6	%	$	15,104,150
Industrials		11.7			13,999,601
Consumer Discretionary		11.4			13,715,768
Consumer Staples		10.7			12,839,011
Materials		10.3			12,398,727
Health Care		10.2			12,189,643
Telecommunication Services		9.7			11,639,019
Information Technology		9.0			10,817,944
Utilities		7.5			9,002,880
Energy		6.3			7,553,875
Short-Term Investments		0.3			395,875
Total Investments		99.7	%	$	119,656,493

19 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Statement of Assets and Liabilities (Unaudited)

Assets	July 31, 2015
Unaffiliated investments, at value (identified cost, $111,271,709)	$	119,260,618
Affiliated investment, at value (identified cost, $395,875)		395,875
Cash		23,838
Foreign currency, at value (identified cost, $54,554)		54,667
Dividends receivable		163,854
Interest receivable from affiliated investment		164
Receivable for Fund shares sold		76,163
Tax reclaims receivable		171,764
Receivable from affiliates		32,624
Total assets	$	120,179,567
Liabilities
Payable for Fund shares redeemed	$	52,067
Payable to affiliates:
Investment adviser and administration fee		77,093
Distribution and service fees		2,000
Accrued expenses		39,485
Total liabilities	$	170,645
Net Assets	$	120,008,922
Sources of Net Assets
Paid-in capital	$	110,082,889
Accumulated net realized gain		292,436
Accumulated undistributed net investment income		1,654,310
Net unrealized appreciation		7,979,287
Total	$	120,008,922
Investor Class Shares
Net Assets	$	11,648,819
Shares Outstanding		952,570
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	12.23
Institutional Class Shares
Net Assets	$	108,360,103
Shares Outstanding		8,835,561
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	12.26

20 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Statement of Operations (Unaudited)

Investment Income	Six Months Ended July 31, 2015
Dividends (net of foreign taxes, $228,172)	$	2,240,170
Interest allocated from affiliated investment		860
Expenses allocated from affiliated investment		(64	)
Total investment income	$	2,240,966
Expenses
Investment adviser and administration fee	$	426,032
Distribution and service fees
Investor Class		11,005
Trustees’ fees and expenses		3,528
Custodian fee		49,770
Transfer and dividend disbursing agent fees		13,295
Legal and accounting services		23,235
Printing and postage		7,136
Registration fees		18,255
Miscellaneous		21,884
Total expenses	$	574,140
Deduct —
Allocation of expenses to affiliates	$	193,976
Total expense reductions	$	193,976
Net expenses	$	380,164
Net investment income	$	1,860,802
Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions	$	387,190
Foreign currency transactions		25,683
Net realized gain	$	412,873
Change in unrealized appreciation (depreciation) —
Investments	$	5,385,730
Foreign currency		(3,909	)
Net change in unrealized appreciation (depreciation)	$	5,381,821
Net realized and unrealized gain	$	5,794,694
Net increase in net assets from operations	$	7,655,496

21 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
From operations —
Net investment income	$	1,860,802		$	2,467,163
Net realized gain from investment and foreign currency transactions		412,873			8,074,145
Net change in unrealized appreciation (depreciation) from investments and foreign currency		5,381,821			(10,199,743	)
Net increase in net assets from operations	$	7,655,496		$	341,565
Distributions to shareholders —
From net investment income
Investor Class	$	—		$	(181,582	)
Institutional Class		—			(2,111,617	)
From net realized gain
Investor Class		—			(298,365	)
Institutional Class		—			(2,931,932	)
Total distributions to shareholders	$	—		$	(5,523,496	)
Transactions in shares of beneficial interest —
Proceeds from sale of shares
Investor Class	$	4,698,183		$	5,338,950
Institutional Class		30,949,755			34,388,019
Net asset value of shares issued to shareholders in payment of distributions declared
Investor Class		—			405,557
Institutional Class		—			2,101,145
Cost of shares redeemed
Investor Class		(2,161,204	)		(10,964,044	)
Institutional Class		(13,831,029	)		(16,308,189	)
Net increase in net assets from Fund share transactions	$	19,655,705		$	14,961,438
Net increase in net assets	$	27,311,201		$	9,779,507
Net Assets
At beginning of period	$	92,697,721		$	82,918,214
At end of period	$	120,008,922		$	92,697,721
Accumulated undistributed (distributions in excess of) net investment income included in net assets
At end of period	$	1,654,310		$	(206,492	)

22 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Financial Highlights

	Investor Class
	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31,												Period Ended January 31, 2011(1)
				2015			2014			2013			2012
Net asset value — Beginning of period	$	11.410		$	11.960		$	11.180		$	9.850		$	10.960		$	10.000
Income (Loss) From Operations
Net investment income (loss)(2)	$	0.178		$	0.355	(3)	$	0.195		$	0.227		$	0.172		$	(0.020	)
Net realized and unrealized gain (loss)		0.642			(0.242	)		0.822			1.370			(1.073	)		1.058
Total income (loss) from operations	$	0.820		$	0.113		$	1.017		$	1.597		$	(0.901	)	$	1.038
Less Distributions
From net investment income	$	—		$	(0.251	)	$	(0.237	)	$	(0.267	)	$	(0.209	)	$	(0.078	)
From net realized gain		—			(0.412	)		—			—			—			—
Total distributions	$	—		$	(0.663	)	$	(0.237	)	$	(0.267	)	$	(0.209	)	$	(0.078	)
Redemption fees(2)(4)	$	—		$	—		$	—		$	—		$	—		$	0.000	(5)
Net asset value — End of period	$	12.230		$	11.410		$	11.960		$	11.180		$	9.850		$	10.960
Total Return(6)		7.09	%(7)		1.01	%		9.04	%		16.32	%		(8.11	)%		10.39	%(7)
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	11,649		$	8,503		$	14,007		$	7,038		$	12,263		$	3,578
Ratios (as a percentage of average daily net assets):
Expenses(8)(9)		0.90	%(10)		0.97	%		1.05	%		1.29	%		1.50	%		1.50	%(10)
Net investment income (loss)		2.96	%(10)		2.83	%(3)		1.65	%		2.22	%		1.68	%		(0.22	)%(10)
Portfolio Turnover		6	%(7)		63	%		35	%		44	%		60	%		15	%(7)

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

  ⁽²⁾ Computed using average shares outstanding.

  ⁽³⁾ Net investment income per share reflects special dividends which amounted to $0.059 per share. Excluding special dividends, the ratio of net investment income to average daily net assets would have been 2.35%.

  ⁽⁴⁾ Redemption fees were discontinued as of January 1, 2011.

  ⁽⁵⁾ Amount is less than $0.0005.

  ⁽⁶⁾ 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 applicable, which were eliminated effective March 1, 2013.

  ⁽⁷⁾ Not annualized.

  ⁽⁸⁾ Excludes the effect of custody fee credits, if any, of less than 0.005%.

  ⁽⁹⁾ The investment adviser, sub-adviser and administrator subsidized certain operating expenses (equal to 0.34%, 0.32%, 0.29%, 0.29%, 0.25% and 0.72% of average daily net assets for the six months ended July 31, 2015, the years ended January 31, 2015, 2014, 2013 and 2012 and the period ended January 31, 2011, respectively). Absent this subsidy, total return would be lower.

⁽¹⁰⁾  Annualized.

23 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Financial Highlights — continued

	Institutional Class
	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31,												Period Ended January 31, 2011(1)
				2015			2014			2013			2012
Net asset value — Beginning of period	$	11.430		$	11.990		$	11.200		$	9.880		$	10.970		$	10.000
Income (Loss) From Operations
Net investment income(2)	$	0.199		$	0.333	(3)	$	0.259		$	0.252		$	0.239		$	0.102
Net realized and unrealized gain (loss)		0.631			(0.184	)		0.790			1.375			(1.104	)		0.950
Total income (loss) from operations	$	0.830		$	0.149		$	1.049		$	1.627		$	(0.865	)	$	1.052
Less Distributions
From net investment income	$	—		$	(0.297	)	$	(0.259	)	$	(0.307	)	$	(0.225	)	$	(0.082	)
From net realized gain		—			(0.412	)		—			—			—			—
Total distributions	$	—		$	(0.709	)	$	(0.259	)	$	(0.307	)	$	(0.225	)	$	(0.082	)
Redemption fees(2)(4)	$	—		$	—		$	—		$	—		$	—		$	0.000	(5)
Net asset value — End of period	$	12.260		$	11.430		$	11.990		$	11.200		$	9.880		$	10.970
Total Return(6)		7.26	%(7)		1.22	%		9.31	%		16.59	%		(7.76	)%		10.54	%(7)
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	108,360		$	84,195		$	68,911		$	54,167		$	45,957		$	41,969
Ratios (as a percentage of average daily net assets):
Expenses(8)(9)		0.65	%(10)		0.72	%		0.80	%		1.02	%		1.25	%		1.25	%(10)
Net investment income		3.30	%(10)		2.66	%(3)		2.20	%		2.45	%		2.28	%		1.20	%(10)
Portfolio Turnover		6	%(7)		63	%		35	%		44	%		60	%		15	%(7)

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

  ⁽²⁾ Computed using average shares outstanding.

  ⁽³⁾ Net investment income per share reflects special dividends which amounted to $0.048 per share. Excluding special dividends, the ratio of net investment income to average daily net assets would have been 2.28%.

  ⁽⁴⁾ Redemption fees were discontinued as of January 1, 2011.

  ⁽⁵⁾ Amount is less than $0.0005.

  ⁽⁶⁾ Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

  ⁽⁷⁾ Not annualized.

  ⁽⁸⁾ Excludes the effect of custody fee credits, if any, of less than 0.005%.

  ⁽⁹⁾ The investment adviser, sub-adviser and administrator subsidized certain operating expenses (equal to 0.34%, 0.32%, 0.29%, 0.30%, 0.25% and 0.72% of average daily net assets for the six months ended July 31, 2015, the years ended January 31, 2015, 2014, 2013 and 2012 and the period ended January 31, 2011, respectively). Absent this subsidy, total return would be lower.

⁽¹⁰⁾  Annualized.

24 See Notes to Financial Statements.

Parametric International Equity Fund

July 31, 2015

Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies

Parametric 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. As of July 31, 2015, the Fund offered Investor Class and Institutional Class shares, and effective August 10, 2015, began offering Class R and Class R6 shares, all of which are sold at net asset value and are not subject to a sales charge. 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 (U.S. GAAP). The Fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946.

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

Equity Securities. Equity securities 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 based on available market quotations provided by a third party pricing service.

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.

As of July 31, 2015, 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.

25

Parametric International Equity Fund

July 31, 2015

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 U.S. GAAP 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, 2015 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 and Income Tax Information

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. 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. Distributions to shareholders are determined in accordance with income tax regulations, which may differ from U.S. GAAP. As required by U.S. GAAP, only distributions in excess of tax basis earnings and profits are 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.

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2015, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	112,030,903
Gross unrealized appreciation	$	16,033,104
Gross unrealized depreciation		(8,407,514	)
Net unrealized appreciation	$	7,625,590

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

26

Parametric International Equity Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

over, the annual fee is reduced. Pursuant to an additional fee reduction agreement effective August 10, 2015, the fee will be computed at an annual rate of 0.65% of the Fund’s average daily net assets up to $500 million and a reduced rate on net assets of $500 million and over. The fee reductions cannot be terminated or reduced without the approval of a majority vote of the Trustees of the Fund who are not interested persons of EVM or the Fund and by the vote of a majority of shareholders. For the six months ended July 31, 2015, the investment adviser and administration fee amounted to $426,032 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 0.90% and 0.65% of the Fund’s average daily net assets for Investor Class and Institutional Class, respectively. This agreement may be changed or terminated after August 10, 2016. Pursuant to this agreement, EVM and Parametric were allocated $193,976 in total of the Fund’s operating expenses for the six months ended July 31, 2015.

EVM provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended July 31, 2015, EVM earned $810 from the Fund pursuant to such agreement, which is included in transfer and dividend disbursing agent fees on the Statement of Operations. Eaton Vance Distributors, Inc. (EVD), an affiliate of EVM and the Fund’s principal underwriter, received distribution and services fees from Investor Class (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, 2015, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM.

4  Distribution Plan

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, 2015 amounted to $11,005 for Investor Class shares.

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

5  Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $26,841,867 and $6,587,451, respectively, for the six months ended July 31, 2015.

6  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:

Investor Class	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
Sales		386,153			418,943
Issued to shareholders electing to receive payments of distributions in Fund shares		—			35,420
Redemptions		(178,521	)		(880,596	)
Net increase (decrease)		207,632			(426,233	)

27

Parametric International Equity Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

Institutional Class	Six Months Ended July 31, 2015 (Unaudited)			Year Ended January 31, 2015
Sales		2,611,089			2,733,329
Issued to shareholders electing to receive payments of distributions in Fund shares		—			183,186
Redemptions		(1,140,035	)		(1,297,574	)
Net increase		1,471,054			1,618,941

At July 31, 2015, an Eaton Vance collective investment trust and donor advised and pooled income funds (established and maintained by a public charity) managed by EVM owned in the aggregate 44.1% of the value of the outstanding shares of the Fund.

7  Line of Credit

The Fund participates with other portfolios and funds managed by EVM and its affiliates in a $750 million unsecured line of credit agreement with a group of banks, which is in effect through September 7, 2015. 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, 2015.

On September 4, 2015, the Fund renewed its line of credit agreement, which expires September 2, 2016. Under the terms of the renewed credit agreement, the commitment amount was reduced to $625 million and the commitment fee on the unused portion of the line of credit was changed to an annual rate of 0.10%.

8  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.

9  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

• 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.

28

Parametric International Equity Fund

July 31, 2015

Notes to Financial Statements (Unaudited) — continued

At July 31, 2015, 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	$	467,684	$	36,040,787		$	0	$	36,508,471
Developed Europe		1,345,664		79,078,857			—		80,424,521
Developed Middle East		700,007		1,627,619			—		2,327,626
Total Common Stocks	$	2,513,355	$	116,747,263	**	$	0	$	119,260,618
Short-Term Investments	$	—	$	395,875		$	—	$	395,875
Total Investments	$	2,513,355	$	117,143,138		$	0	$	119,656,493

* 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, 2015 is not presented. At July 31, 2015, the value of investments transferred between Level 1 and Level 2 during the six months then ended was not significant.

29

Parametric International Equity Fund

July 31, 2015

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 registered investment companies advised, administered and/or distributed by Eaton Vance Management or its affiliates (the “Eaton Vance Funds”) held on April 27, 2015, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing investment 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 its Contract Review Committee, 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 2015. The Contract Review Committee also considered information received at prior meetings of the Board and its committees, as relevant to its annual evaluation of the investment advisory and sub-advisory agreements.

The information that the Board considered included, among other things, the following:

Information about Fees, Performance and Expenses

• A report from an independent data provider comparing the advisory and related fees paid by each fund with fees paid by comparable funds as identified by the data provider (“comparable funds”);

• A report from an independent data provider comparing each fund’s total expense ratio and its components to comparable funds;

• A report from an independent data provider 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 identified by the adviser in consultation with the Board;

• 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 it employs;

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

• Information about the allocation of brokerage transactions 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 policies with respect to “soft dollars”;

• Data relating to portfolio turnover rates of each fund;

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;

• The Code of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

• Policies and procedures relating to proxy voting and the handling of corporate actions and class actions;

• Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates (including descriptions of various compliance programs) and their record of compliance;

• 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;

30

Parametric International Equity Fund

July 31, 2015

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 investment advisory agreement.

Over the course of the twelve-month period ended April 30, 2015, with respect to one or more funds, the Board met nine 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, seventeen, seven, eleven 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, and 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. In addition to the formal meetings of the Board and its Committees, the Independent Trustees hold regular teleconferences in between meetings to discuss, among other topics, matters relating to the continuation of investment advisory and sub-advisory agreements.

For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of investment 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 investment advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment 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 investment advisory and sub-advisory agreement. In evaluating each investment advisory and sub-advisory agreement, including the specific fee structures and other terms of the agreements, the Contract Review Committee was informed by multiple years of analysis and discussion among the Independent Trustees and the Eaton Vance Funds’ advisers and sub-advisers.

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 (the “Fund”) with Eaton Vance Management (the “Adviser”) and the sub-advisory agreement with Parametric Portfolio Associates LLC (the “Sub-adviser”), an affiliate of the Adviser, 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, including recent changes to such personnel. 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, as well as the compensation methods of the Adviser and other factors, such as the reputation and resources of the Adviser to recruit and retain investment personnel. In addition, the Board considered the time and attention devoted to the Fund by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the management of the Fund, including the provision of administrative services.

31

Parametric International Equity Fund

July 31, 2015

Board of Trustees’ Contract Approval — continued

The Board considered 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 considered 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.

The Board considered shareholder and other administrative services provided or managed by the Adviser 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 that of comparable funds and appropriate benchmark indices. The Board’s review included comparative performance data for the one and three-year periods ended September 30, 2014 for the Fund. The Board considered various factors that contributed to the Fund’s relative underperformance during the three-year period, including the rules-based strategy employed by the Sub-adviser in managing the Fund, which tends to result in relative underperformance during periods of strong equity markets. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board considered contractual fee rates payable by the Fund for advisory and administrative services (referred to collectively as “management fees”). As part of its review, the Board considered the Fund’s management fees and total expense ratio for the year ended September 30, 2014, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. 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 fund complex level.

After considering 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 considered 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.

32

Parametric International Equity Fund

July 31, 2015

Officers and Trustees

Officers of Parametric International Equity Fund

Payson F. Swaffield

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

Thomas E. Faust Jr.*

Cynthia E. Frost

George J. Gorman

Valerie A. Mosley

William H. Park

Helen Frame Peters

Susan J. Sutherland**

Harriett Tee Taggart

* Interested Trustee

** Ms. Sutherland began serving as a Trustee effective May 1, 2015.

33

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 1-800-260-0761, 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 1-800-260-0761 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 1-800-260-0761 and by accessing the SEC’s website at www.sec.gov.

34

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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

State Street Financial Center, One Lincoln Street

Boston, MA 02111

Transfer Agent

BNY Mellon Investment Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 260-0761

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.

77717    7.31.15

Item 2. Code of Ethics

Not required in this filing.

Item 3. Audit Committee Financial Expert

Not required in this filing.

Item 4. Principal Accountant Fees and Services

Not required in this filing.

Item 5. Audit Committee of Listed Registrants

Not applicable.

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 applicable.

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

Not applicable.

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

Not applicable.

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/ Payson F. Swaffield
	Payson F. Swaffield
	President
Date:	September 15, 2015

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 15, 2015
By:	/s/ Payson F. Swaffield
	Payson F. Swaffield
	President
Date:	September 15, 2015