EXHIBIT (h)(7)

Expense Reimbursement Agreement

Effective as of April 26, 2022

Eaton Vance Funds

Boards of Directors and Trustees of the Eaton Vance Funds

Two International Place

Boston, Massachusetts 02110

Re: Expense Waiver/Reimbursement for Cash Sweep  

Ladies and Gentlemen:

As you know, we and certain of our affiliates (collectively referred to herein as “we,” “us” or “our” as the context requires) currently provide administrative, advisory, distribution and/or other services to the Eaton Vance Funds. We hereby agree with each trust and/or corporation listed on Schedule A to this letter (each a “Company” and collectively the “Companies”) that for each series of a Company (each a “Fund”) we will waive our fees and/or reimburse operating expenses payable by that Fund by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund (net of waivers and sub-administration costs) (referred to herein as the “contractual expense reimbursement”) due to its investment in Government Portfolio, a series of Morgan Stanley Institutional Liquidity Funds (the “Cash Sweep Fund”)  

Fund expenses are accrued, and any applicable contractual expense reimbursement are applied, daily.

The agreement in this letter will take effect as to each Fund as of the date first written above and will remain in effect for as long as a Fund invests in the Cash Sweep Fund. In addition, the agreements in this letter will terminate upon us ceasing to serve as the investment adviser of the Fund.  

We, Eaton Vance Management and each Company are duly organized and validly existing under the laws of the jurisdiction in which they were formed. We acknowledge that all persons dealing with a Company that is Massachusetts business trust formed under a declaration of trust must look solely to the property of that Company for satisfaction of claims of any nature against the Company, as neither the trustees, officers, employees nor shareholders of the Company assume any personal liability in connection with its business or for obligations entered into on its behalf. Each Company acknowledges that all persons dealing with Eaton Vance Management must look solely to the property of Eaton Vance Management for satisfaction of claims of any nature against Eaton Vance, as neither the trustees, officers, employees nor shareholders of Eaton Vance Management assume any personal liability in connection with its business or for obligations entered into on our behalf. 

Please sign below to confirm your agreement with the terms of this letter.

1

Sincerely,
Eaton Vance Management
By:	/s/ Deidre E. Walsh
Name:	Deidre E. Walsh
Title:	Vice President

Agreed:

On behalf of the Eaton Vance Funds
By:	/s/ James F. Kirchner
Name:	James F. Kirchner
Title:	Treasurer

2

SCHEDULE A to EXPENSE REIMBURSEMENT AGREEMENT

Dated: April 26, 2022

EATON VANCE GROWTH TRUST

EATON VANCE INVESTMENT TRUST

EATON VANCE MUNICIPALS TRUST

EATON VANCE MUNICIPALS TRUST II

EATON VANCE MUTUAL FUNDS TRUST

EATON VANCE SERIES FUND, INC.

EATON VANCE SERIES TRUST

EATON VANCE SERIES TRUST II

EATON VANCE SPECIAL INVESTMENT TRUST

EATON VANCE VARIABLE TRUST

EATON VANCE NEXTSHARES TRUST

EATON VANCE NEXTSHARES TRUST II

Core Bond Portfolio  

Emerging Markets Local Income Portfolio

Eaton Vance Floating Rate Portfolio

Global Income Builder Portfolio

Global Macro Absolute Return Advantage Portfolio

Global Macro Capital Opportunities Portfolio

Global Macro Portfolio

Global Opportunities Portfolio

Greater India Portfolio

High Income Opportunities Portfolio

International Income Portfolio

Senior Debt Portfolio

Stock Portfolio

Tax-Managed Growth Portfolio

Tax-Managed International Equity Portfolio

Tax-Managed Multi-Cap Growth Portfolio

Tax-Managed Small-Cap Portfolio

Tax-Managed Value Portfolio

5-to-15 Year Laddered Municipal Bond Portfolio

3

Eaton Vance California Municipal Bond Fund (EVM) (NYSE American)

Eaton Vance California Municipal Income Trust (CEV) (NYSE American)

Eaton Vance Enhanced Equity Income Fund (EOI) (NYSE)

Eaton Vance Enhanced Equity Income Fund II (EOS) (NYSE)

Eaton Vance Floating-Rate Income Trust (EFT) (NYSE)

Eaton Vance Floating-Rate 2022 Target Term Trust (EFL) (NYSE)

Eaton Vance Limited Duration Income Fund (EVV) (NYSE American)

Eaton Vance Municipal Bond Fund (EIM) (NYSE American)

Eaton Vance Municipal Income 2028 Term Trust (ETX) (NYSE)

Eaton Vance Municipal Income Trust (EVN) (NYSE)  

Eaton Vance National Municipal Opportunities Trust (EOT) (NYSE)

Eaton Vance New York Municipal Bond Fund (ENX) (NYSE American)

Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) (NYSE)

Eaton Vance Senior Floating-Rate Trust (EFR) (NYSE)

Eaton Vance Senior Income Trust (EVF) (NYSE)

Eaton Vance Short Duration Diversified Income Fund (EVG) (NYSE)

Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) (NYSE)

Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) (NYSE)

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO) (NYSE)

Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) (NYSE)

Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (NYSE)

Eaton Vance Tax-Managed Buy-Write Strategy Fund (EXD) (NYSE)

Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) (NYSE)

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) (NYSE)

Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) (NYSE)

4