Company: ETY
Filing Date: 2025-02-19
Form Type: 424B5
Source: 0001193125-25-029518
Chunk: 172

Company: Eaton Vance Tax-Managed Diversified Equity Income Fund
Filing Date: 2025-02-19
Form: 424B5
Chunk 172
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 example: (i) consideration is given to portfolio managers who have been instrumental in developing or negotiating a particular investment; (ii) consideration is given to an account with specialized investment policies that coincide with the particulars of a specific investment; (iii) pro rata allocation would result in odd-lot or de minimis amounts being allocated to a portfolio or other client; or (iv) where the Adviser reasonably determines that departure from a pro rata allocation is advisable. While these aggregation and allocation policies could have a detrimental effect on the price or amount of the securities available to the Fund from time to time, it is the opinion of the members of the Board that the benefits from the Adviser organization outweigh any disadvantage that may arise from exposure to simultaneous transactions.

The following table shows brokerage commissions paid during the fiscal years ended October 31, 2024, 2023 and 2022, as well as the amount of Fund security transactions for the most recent fiscal year (if any) that were directed to firms that provided some Research Services to the investment adviser or its affiliates (see above), and the commissions paid in connection therewith.

| Fiscal Year End  
 October 31, 2024 |     | Brokerage Commission Paid | 376,943 |     | Amount of Transactions      
 Directed to Firms Providing 
 Research                    | 1,217,380,930 |     | Commissions Paid on      
 Transactions Directed to 
 Firms Providing Research | 255,017 |
|:-----------------|:----|:--------------------------|--------:|:----|:----------------------------|--------------:|:----|:-------------------------|--------:|
| October 31, 2023 |     | $                         | 768,527 |     | $                           | 1,917,720,684 |     | $                        | 612,110 |
| October 31, 2022 |     | $                         | 573,254 |     | $                           | 1,568,257,913 |     | $                        | 397,665 |

The following table shows brokerage commissions paid to broker-dealers affiliated with Morgan Stanley (“Morgan Stanley affiliated broker-dealers”) during the three fiscal years ended October 31, 2024, as well as the percentage of aggregate brokerage commissions paid to Morgan Stanley affiliated broker-dealers and the percentage of total brokered transactions effected through Morgan Stanley affiliated broker-dealers for the most recent fiscal year.

| Brokerage Commissions Paid to Morgan Stanley Affiliated Broker-Dealers