# EDGAR Filing Document

**Accession Number:** 0001340736
**File Stem:** 0001133228-26-003423
**Filing Date:** 2026-3
**Character Count:** 7089
**Document Hash:** 82aa942e6070581c2d12b664c518bca8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-003423.hdr.sgml**: 20260311

**ACCESSION NUMBER**: 0001133228-26-003423

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260311

**DATE AS OF CHANGE**: 20260311

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Tax-Managed Diversified Equity Income Fund
- **CENTRAL INDEX KEY:** 0001340736

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-284944
- **FILM NUMBER:** 26741777

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Eaton Vance Tax-Managed Premium & Dividend Income Fund
- **DATE OF NAME CHANGE:** 20051110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Eaton Vance Tax-Managed Premium & Income Opportunities Fund
- **DATE OF NAME CHANGE:** 20051005

![](logo.jpg)

Filed pursuant to Rule 424(b)(3)

File No. 333-284944

**EATON VANCE TAX-MANAGED DIVERSIFIED EQUITY INCOME FUND**

**Supplement to Prospectus dated February 14, 2025**

**The following replaces the Financial Highlights contained in the Prospectus:**

**Selected data for a Common Share outstanding during the periods stated.**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended October 31, | Year Ended October 31, | Year Ended October 31, | Year Ended October 31, | Year Ended October 31, |
| | 2025 | 2024 | 2023 | 2022 | 2021 |
| Net asset value – Beginning of year | $14.91 | $11.66 | $11.36 | $14.36 | $11.60 |
| Income (Loss) From Operations |  |  |  |  |  |
| Net investment income (loss)<sup>(1)</sup> | $(0.04) | $(0.02) | $0.06 | $0.06 | $0.05 |
| Net realized and unrealized gain (loss) | 1.97 | 4.37 | 1.21 | (1.95) | 3.74 |
| **Total income (loss) from operations** | $**1.93** | $**4.35** | $**1.27** | $**(1.89)** | $**3.79** |
| Less Distributions |  |  |  |  |  |
| From net investment income | $— | $— | $(0.12) | $(0.05) | $(0.05) |
| From net realized gain | (1.18) | (1.10) | (0.85) | (0.97) | (0.44) |
| Tax return of capital | (0.01) |  |  | (0.09) | (0.54) |
| **Total distributions** | $**(1.19)** | $**(1.10)** | $**(0.97)** | $**(1.11)** | $**(1.03)** |
| **Premium from common shares sold through shelf offering<sup>(1)</sup>** | $**0.00** **<sup>(2)</sup>** | $**—** | $**—** | $**0.00** **<sup>(2)</sup>** | $**0.00** **<sup>(2)</sup>** |
| **Net asset value – End of year** | $**15.65** | $**14.91** | $**11.66** | $**11.36** | $**14.36** |
| **Market value – End of year** | $**15.83** | $**14.52** | $**11.01** | $**12.00** | $**14.61** |
| **Total Investment Return on Net Asset Value<sup>(3)</sup>** | **13.56%** | **38.59%** | **11.53%** | **(13.55)%** | **33.85%** |
| **Total Investment Return on Market Value<sup>(3)</sup>** | **17.95%** | **43.06%** | **(0.39)%** | **(10.24)%** | **52.78%** |
| Ratios/Supplemental Data |  |  |  |  |  |
| Net assets, end of year (000's omitted) | $2492210 | $2345918 | $1835911 | $1784540 | $2211925 |
| Ratios (as a percentage of average daily net assets):<sup>(4)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 1.06% | 1.06% | 1.07% | 1.07% | 1.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 1.06%<sup>(5)</sup> | 1.06%<sup>(5)</sup> | 1.07%<sup>(5)</sup> | 1.07%<sup>(5)</sup> | 1.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (0.28)% | (0.15)% | 0.48% | 0.45% | 0.40% |
| Portfolio Turnover | 46% | 39% | 63% | 55% | 36% |

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<sup>(See related footnotes.)</sup>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended October 31, | Year Ended October 31, | Year Ended October 31, | Year Ended October 31, | Year Ended October 31, |
| | 2020 | 2019 | 2018 | 2017 | 2016 |
| Net asset value – Beginning of year | $11.87 | $11.86 | $11.96 | $11.14 | $12.01 |
| Income (Loss) From Operations |  |  |  |  |  |
| Net investment income<sup>(1)</sup> | $0.09 | $0.10 | $0.08 | $0.10 | $0.12 |
| Net realized and unrealized gain | 0.65 | 0.92 | 0.83 | 1.73 | 0.02 |
| **Total income from operations** | $**0.74** | $**1.02** | $**0.91** | $**1.83** | $**0.14** |
| Less Distributions |  |  |  |  |  |
| From net investment income | $(0.09) | $(0.10) | $(0.08) | $(0.09) | $(0.09) |
| From net realized gain |  | (0.55) | (0.49) | (0.29) | (0.07) |
| Tax return of capital | (0.92) | (0.36) | (0.44) | (0.63) | (0.85) |
| **Total distributions** | $**(1.01)** | $**(1.01)** | $**(1.01)** | $**(1.01)** | $**(1.01)** |
| **Premium from common shares sold through shelf offering<sup>(1)</sup>** | $**0.00** **<sup>(2)</sup>** | $**0.00** **<sup>(6)</sup>** | $**—** | $**—** | $**—** |
| **Net asset value – End of year** | $**11.60** | $**11.87** | $**11.86** | $**11.96** | $**11.14** |
| **Market value – End of year** | $**10.34** | $**11.92** | $**11.46** | $**11.64** | $**10.29** |
| **Total Investment Return on Net Asset Value<sup>(3)</sup>** | **7.02%** | **9.24%** | **7.75%** | **17.51%** | **1.98%** |
| **Total Investment Return on Market Value<sup>(3)</sup>** | **(5.01)%** | **13.53%** | **6.98%** | **23.81%** | **0.04%** |
| Ratios/Supplemental Data |  |  |  |  |  |
| Net assets, end of year (000's omitted) | $1759628 | $1782364 | $1775555 | $1787846 | $1665148 |
| Ratios (as a percentage of average daily net assets): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses | 1.08% | 1.07% | 1.07% | 1.08% | 1.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 0.80% | 0.86% | 0.66% | 0.86% | 1.05% |
| Portfolio Turnover | 40% | 57% | 48% | 75% | 86% |

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<sup><sup>(1)</sup></sup> Computed using average shares outstanding.

 

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| | |
|:---|:---|
| <sup><sup>(2)</sup></sup> | Amount is less than $0.005. |

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| | |
|:---|:---|
| <sup><sup>(3)</sup></sup> | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund's dividend reinvestment plan. |

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| | |
|:---|:---|
| <sup><sup>(4)</sup></sup> | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |

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|:---|:---|
| <sup><sup>(5)</sup></sup> | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund's investment in the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (equal to less than 0.005% of average daily net assets for the year ended October 31, 2025, 2024, 2023 and 2022). |

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|:---|:---|
| <sup><sup>(6)</sup></sup> | Amount is less than $0.0005. |

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March 11, 2026