WisdomTree Index Research Eaton Vance Greater India Fund (A) Comparison Report For Registered Representative and Institutional Use Only. Not for Public Viewing or Dissemination Important Information about WisdomTree Index Performance This information is provided to further analyze the long term performance of the WisdomTree Indexes in comparison to Eaton Vance Greater India Fund (A), specific components, characteristics of the indexes and measurable risk factors. The information provided herein represents an isolated of one or more indexes for a specified time period. Performance information prior to December 3, 2007 for the WisdomTree India Earnings Index is based on hypothetical back-tested data for the specified time period(s) shown and was not calculated in real time by an independent calculation agent. Beginning December 3, 2007, the WisdomTree India Earnings Index has been calculated in real time by an independent calculation agent. A back test is an indication of how an index would have performed in the past if it existed. Hypothetical back-tested performance has inherent limitations. Past performance does not guarantee future results. No representation is being made that any investment will achieve performance similar to those shown. All information is provided strictly for educational and illustrative purposes only. The information provided is not intended for trading purposes, and should not be considered investment advice. You cannot invest directly in an Index. Index performance does not represent actual fund or portfolio performance. A fund or portfolio may differ significantly from the securities included in the Index. Index performance assumes reinvestment of dividends, but does not reflect any management fees, transaction costs or other expenses that could be incurred by a portfolio or fund, or brokerage commissions on transactions in Fund shares. Such fees, expenses and commissions would reduce returns. This information is not deemed an offer or sale of any investment product and it should not be relied on as such. The user of this information assumes the entire risk of any use made of the information provided herein. None of WisdomTree Investments, WisdomTree Asset Management or the WisdomTree ETFs, nor any other party involved in making or compiling any information regarding indexing in general makes an express or implied warranty or representation with respect to information provided herein. International Indexes Source: MSCI. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent. The WisdomTree India Earnings Index is the exclusive property of WisdomTree Investments, Inc., which has contracted with Standard & Poor’s (“S&P”) to maintain and calculate the Index. S&P shall have no liability for any errors or omissions in calculating the Index. All investments involve risk, including the potential loss of principal. Additional index performance information is available at www.WisdomTree.com.
Definition of WisdomTree Indexes Used: The WisdomTree India Earnings Index is a fundamentally weighted index that measures the performance of profitable companies as of the annual index screening date incorporated and traded in India that are eligible to be purchased by foreign investors. Companies are weighted in the Index based on their earnings in their fiscal year prior to the Index measurement date adjusted for a factor that takes into account shares available to foreign investors. For these purposes, “earnings” are determined using a company’s net income.
ZPH 210B Page 1 of 9
Created with Zephyr StyleADVISOR
For Registered Representative and Institutional Use Only. Not for Public Viewing or Dissemination Eaton Vance Greater India Fund (A) Description: The Eaton Vance Greater India Fund (A) (ETGIX) is a loaded mutual fund that seeks long-term capital appreciation. The Fund currently seeks to meet its investment objective by investing its assets in Greater India Portfolio (the “India Portfolio”) (formerly, South Asia Portfolio), a separate registered investment company which has the same investment objective and policies as the Fund. The India Portfolio seeks to achieve its objective by investing in a carefully selected and continuously managed portfolio consisting primarily of equity securities of companies in India and surrounding countries of the Indian subcontinent (“Greater India investments”). A company will be considered to be in India or another country if it is domiciled in or derives more than 50% of its revenue or profits from that country. The India Portfolio will, under normal market conditions, invest at least 80% of its net assets in Greater India Investments, at least 50% of its total assets in equity securities of Indian companies and no more than 5% of total assets will be invested in companies located in countries other than India, Pakistan or Sri Lanka.
Definition of non WisdomTree Indexes used for comparison: MSCI India Value Index
The MSCI India Value Index is a free float-adjusted market capitalization index that is designed to measure the performance of "value" stocks in India.
MSCI India Growth Index
The MSCI India Growth Index is a free float-adjusted market capitalization index that is designed to measure the performance of "growth" stocks in India.
Zephyr StyleAdvisor requires one index to be chosen as a benchmark for comparison purposes throughout the report. The most appropriate index chosen as the benchmark for this report is: MSCI India Index
The MSCI India Index is a free float-adjusted market capitalization index that is designed to measure the performance of stocks in India.
Eaton Vance Greater India Fund-(A) Performance Information: Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Fund performance during certain periods reflects the strong stock market performance and/or the strong performance of stocks held during those periods. This performance is not typical and may not be repeated. For the Fund’s performance as of the most recent month end, please refer to www.eatonvance.com. Obtain a prospectus for the fund’s objectives, risks and expenses at www.eatonvance.com. Maximum Sales Charge (as a percentage of offering price): 5.75% Redemption Fee (as a percentage of amount redeemed): 1.00%* *For shares redeemed or exchanged within 90 days of the settlement of the purchase Annual Operating Expenses as of May 1, 2009: Gross 2.18%; Net 2.13%** **The net expense charge reflects a contractual waiver of fees. Without this waiver, returns would have been lower. The Adviser and the Administrator have agreed to reduce the Total Annual Fund Operating Expenses by 0.05% annually. This agreement is contractual in nature and may not be terminated without shareholder approval. The reduction relates to ordinary operating expenses only and reduction amounts may be subject to recoupment. Morningstar does not adjust total return for sales charges or for redemption fees. If the Front Sales Load Fee had been reflected in the returns, performance would have been lower than indicated in the report. Total returns do account for management, administrative, and 12b-1 fees and other costs automatically deducted from fund assets. Page 2 of 9
Created with Zephyr StyleADVISOR
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
WisdomTree Index Research and Zephyr StyleADVISOR
Performance vs Benchmark: Return through June 30, 2009
1 year
5 years 10 years
Eaton Vance Greater India Fund(A) (ETGIX)
-5.50%
18.57%
11.63%
WisdomTree India Earnings Index
-3.56%
26.62%
21.33%
MSCI India Value Index
1.75%
29.12%
18.16%
-12.71%
17.97%
9.80%
-5.01%
23.79%
14.81%
MSCI India Growth Index
MSCI India Index
• •
All returns are average annual returns, except for periods less than a year. Past performance does not guarantee future results.
Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
Page 3 of 9
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
WisdomTree Index Research and Zephyr StyleADVISOR
Index Risk/Return July 1, 1999 - June 30, 2009
25%
Return
20%
Eaton Vance Greater India Fund(A) (ETGIX WisdomTree India Earnings Index
15%
MSCI India Value Index
10%
MSCI India Growth Index Market Benchmark: MSCI India Index
5% 0% 0%
5%
10%
15%
20%
25%
30%
35%
40%
Standard Deviation • •
Risk-Return Table July 1, 1999 - June 30, 2009 -- Average Annual Summary Statistics
Return (%)
Std Dev (%)
Eaton Vance Greater India Fund(A) (ETGIX)
11.63
33.21
WisdomTree India Earnings Index
21.33
32.51
MSCI India Value Index
18.16
32.47
9.80
37.07
14.81
33.26
MSCI India Growth Index MSCI India Index Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
All returns are average annual returns. Standard deviation is the degree to which an index’s returns have fluctuated above or below its mean – a higher number indicates higher volatility.
Page 4 of 9
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
WisdomTree Index Research and Zephyr StyleADVISOR
Risk-Return Table July 1, 1999 - June 30, 2009 -- Average Annual Summary Statistics Return (%)
Std Dev (%)
Beta
Alpha (%)
R-Squared (%)
Sharpe Ratio
Eaton Vance Greater India Fund(A) (ETGIX)
11.63
33.21
0.955
-2.08
91.35
0.258
WisdomTree India Earnings Index
21.33
32.51
0.932
6.66
90.78
0.562
MSCI India Value Index
18.16
32.47
0.915
4.04
87.70
0.464
9.80
37.07
1.070
-4.17
92.15
0.181
14.81
33.26
1.000
0.00
100.00
0.353
MSCI India Growth Index
MSCI India Index • • • • •
Beta, Alpha and R-Squared for the indexes are calculated relative to the MSCI India Index. Beta is a measure of volatility that compares how the indexes move relative to a benchmark - the MSCI India Index. A lower beta indicates lower volatility relative to the benchmark. Alpha is a measure of risk-adjusted performance that compares how the indexes move relative to a benchmark - the MSCI India Index. A higher number indicates higher risk-adjusted return relative to the benchmark. R-Squared is a measure of correlation between an index and a benchmark – the MSCI India Index. A higher number indicates closer correlation relative to the benchmark. Sharpe Ratio is a measure calculated to determine reward per unit of risk, using standard deviation and excess return in the index - the MSCI India Index. A higher Sharpe Ratio indicates a higher risk-adjusted return.
Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
Page 5 of 9
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
WisdomTree Index Research and Zephyr StyleADVISOR Calendar Year Return YTD is through June 30, 2009
Return
100%
Eaton Vance Greater India Fund(A) (ETG WisdomTree India Earnings Index MSCI India Value Index MSCI India Growth Index MSCI India Index
50%
0%
-50% 2000
2001
2002
2003
2004
2005
2006
2007
2008
YTD
Calendar Year Return YTD is through June 30, 2009
2000 2001 2002 2003 2004 2005 2006 2007 2008 YTD Eaton Vance Greater India Fund(A) (ETGIX)
-38.36%
-26.12%
-0.55%
113.81%
17.66%
45.42%
36.32%
55.04%
-65.23%
52.53%
WisdomTree India Earnings Index
-16.15%
-11.09%
24.85%
116.67%
23.36%
29.20%
47.62%
90.32%
-62.80%
57.18%
MSCI India Value Index
-16.35%
-22.45%
12.91%
105.31%
16.38%
38.32%
51.90%
90.04%
-59.89%
52.85%
MSCI India Growth Index
-33.66%
-16.50%
4.04%
52.56%
22.78%
36.95%
49.33%
56.72%
-69.43%
62.48%
MSCI India Index
-21.74%
-19.45%
8.38%
78.36%
19.10%
37.57%
51.00%
73.11%
-64.63%
57.45%
Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
Page 6 of 9
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
WisdomTree Index Research and Zephyr StyleADVISOR
Index Performance vs Benchmark: Return through June 30, 2009 YTD
1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years
Eaton Vance Greater India Fund(A) (ETGIX 52.53% -5.50% -15.31% 1.78%
10.09% 18.57% 22.47% 21.86% 17.86% 10.17% 11.63%
WisdomTree India Earnings Index
57.18% -3.56% -5.25% 14.80% 19.39% 26.62% 28.74% 29.15% 26.24% 21.20% 21.33%
MSCI India Value Index
52.85%
MSCI India Growth Index
62.48% -12.71% -16.07% 3.29%
10.00% 17.97% 21.64% 19.21% 15.75%
MSCI India Index
57.45% -5.01% -9.15%
16.34% 23.79% 25.99% 24.53% 20.55% 13.01% 14.81%
•
1.75%
-2.68% 15.73% 22.13% 29.12% 30.05% 29.50% 24.95% 18.68% 18.16%
9.81%
6.91%
9.80%
All returns are average annual returns, except for periods less than a year, which are cumulative.
Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
Page 7 of 9
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
Zephyr StyleADVISOR
Zephyr StyleADVISOR: Wisdom Tree Asset Management, Inc.
Correlation Matrix July 1, 1999 - June 30, 2009
(1)
(2)
(3)
(4)
(5)
1) Eaton Vance Greater India Fund(A) (ETGIX)
1.00
0.93
0.92
0.90
0.96
2) WisdomTree India Earnings Index
0.93
1.00
0.97
0.85
0.95
3) MSCI India Value Index
0.92
0.97
1.00
0.80
0.94
4) MSCI India Growth Index
0.90
0.85
0.80
1.00
0.96
5) MSCI India Index
0.96
0.95
0.94
0.96
1.00
•
Correlation is a statistical measure of how an index moves in relation to another index or model portfolio. A correlation ranges from -1 to 1. A correlation of 1 means the two have moved in lockstep with each other. A correlation of -1 means the two indexes have moved in exactly the opposite direction.
Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
Page 8 of 9
For Registered Representative and Institutional Use Only.
Not for Public Viewing or Dissemination
WisdomTree Index Research and Zephyr StyleADVISOR Upside Downside
July 1, 1999 - June 30, 2009 104 102
Upside%
100
96
Eaton Vance Greater India Fund(A) (ETGIX) WisdomTree India Earnings Index MSCI India Value Index MSCI India Growth Index
94
MSCI India Index
98
92 90 90
95
100
105
110
Downside% Up/Down Table July 1, 1999 - June 30, 2009 # of Months
Average Monthly Return (%)
Market Benchmark (%) Up Capture
Down Capture
R-Squared
127.06 -67.21
90.43
99.03
91.35
-6.87
131.11 -63.08
97.86
89.51
90.78
8.17
-6.46
125.25 -61.73
94.46
92.06
87.70
48
8.01
-8.62
-69.43 101.85 107.44
92.15
50
7.98
-7.29
Up
Down
Up
Down
Eaton Vance Greater India Fund(A) (ETGIX)
72
48
7.43
-7.69
WisdomTree India Earnings Index
73
47
7.82
MSCI India Value Index
68
52
MSCI India Growth Index
72
MSCI India Index
70
• • • •
1-Year (%) Best
87.15
Worst
101.05 -65.33 100.00 100.00 100.00
# of Months Up/Down shows the number of months in which the return of the index or benchmark was positive or negative. The Average Monthly Return % is the average monthly positive and negative return. The 1-Year Best/Worst % is the highest and lowest return of the index or benchmark over any 12-month period for the time period shown. Up and Down Capture: The up and down capture is a measure of how well an index was able to replicate or improve on positive benchmark returns, and to what extent the index was affected by negative benchmark returns. To calculate the up capture, Zephyr first forms a new series for each of the indexes and benchmark by dropping all time periods where the benchmark (the MSCI India Index) return is zero or negative. The up capture is then the quotient of the annualized return of the resulting index series, divided by the annualized return of the MSCI India benchmark series. The down capture is calculated analogously.
Created with Zephyr StyleADVISOR. Manager returns supplied by: Morningstar, Inc.
Page 9 of 9