Company: ETV
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109401
Chunk: 101

Company: Eaton Vance Tax-Managed Buy-Write Opportunities Fund
Filing Date: 2025-05-01
Form: 424B5
Chunk 101
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 of the average daily gross assets of the Fund over $1.5 billion up to and including $3 billion, 0.960% of the average daily gross assets of the Fund over $3 billion up to and including $5 billion, and 0.940% of the average daily gross assets of the Fund over $5 billion. Gross assets of the Fund means total assets of the Fund, including any form of investment leverage, minus all accrued expenses incurred in the normal course of operations, but not excluding any liabilities or obligations attributable to investment leverage obtained through (i) indebtedness of any type (including, without limitation, borrowing through a credit facility or the issuance of debt securities), (ii) the issuance of preferred stock or other similar preference securities, (iii) the reinvestment of collateral received for securities loaned in accordance with the Fund’s investment objectives and policies, and/or (iv) any other means. During any future periods in which the Fund is using leverage, the fees paid to Eaton Vance for investment advisory services will be higher than if the Fund did not use leverage because the fees paid will be calculated on the basis of the Fund’s gross assets, including proceeds from any borrowings and from the issuance of preferred shares. The Fund is responsible for all expenses not expressly stated by another party (such as the expenses required to be paid pursuant to an agreement with the investment adviser or administrator). The Fund may pay brokerage commissions to broker-dealers affiliated with Fund or the Adviser. For more information about affiliated brokerage commissions, see the section entitled “PORTFOLIO TRADING” in the Fund’s SAI. The Fund’s semi-annual shareholder report contains information regarding the basis for the Trustees’ approval of the Fund’s Advisory Agreement. Charles B. Gaffney and Douglas R. Rogers, CFA, CMT are responsible for managing the Fund’s overall investment program and executing the Fund’s options strategy, and also provide the Sub‑Adviser with research support and supervise the performance of the Sub‑ Adviser. Messrs. Gaffney and Rogers are Vice Presidents of Eaton Vance, have managed other Eaton Vance portfolios, have been employees of the Morgan Stanley organization for more than five years, and have been portfolio managers of the Fund since May 2023. THE SUB‑ADVISER Eaton Vance has engaged its affiliate Parametric as a sub‑adviser to the Fund. Parametric is responsible for structuring and managing the Fund’s common stock portfolio, including tax‑loss harvesting (i.e., periodically