Overview

Distributions to Income Beneficiaries

as of Dec 01, 2023
Annualized Distribution per Unit1 $0.672
Annualized Distribution Rate at Current NAV2 7.06%
Annualized Distribution Rate at Initial NAV3 6.25%
Distribution Frequency Monthly
See important disclosures below.
 

Trust Facts

Inception Date 04/30/2019
Minimum Initial Contribution Closed for Contribution
CUSIP 90344D321

Fees and Expenses (%)

Advisory Fee 0.55%
Trustee Fee 0.10%
Administrative Fee 0.33%
Servicing Agent Fee 0.00%
Estimated Other Expenses 0.05%
    Estimated Total Expenses 1.03%
Fees and Expenses stated above are annual percentages of average daily net assets.
 

Investment Team

Derek J.V. DiGregorio
Vice President, Eaton Vance Trust Company
17 years of investment experience
17 years at Eaton Vance
BS, Bates College
MBA, Boston University Questrom School of Business
Charles Gaffney
Vice President, Eaton Vance Trust Company
27 years of investment experience
20 years at Eaton Vance
BS, Bowdoin College
MBA, Graduate School of Business, Fordham University
Douglas Rogers, CFA, CMT
Vice President, Eaton Vance Trust Company
24 years of investment experience
22 years at Eaton Vance
BS, United States Naval Academy
MBA, Harvard University

Disclosures 

While the Trusts will seek to provide tax-advantaged monthly distributions to income beneficiaries growing over time with inflation and increasing amounts available for charitable purposes upon termination of beneficiaries’ income interests, the Trusts’ overall investment results are subject to market risk and are not guaranteed by any person. Distributions to income beneficiaries may fluctuate with changes in economic conditions, may not grow over time at rates consistent with inflation and may decline. The tax character of distributed Trust income may vary. The principal amount available for charitable purposes upon termination of a Trust Account’s income interests may be higher or lower than the value of the Trust Account at initial funding.


1. The Annualized Distribution per Unit is calculated by multiplying the current daily distribution per unit first by the number of days in the current month, then multiplying by twelve.
2. The Annualized Distribution Rate at Current NAV is calculated by dividing the Trust’s current Annualized Distribution per Unit by the Trust’s net asset value per unit (NAV) as of the prior business day. NAV is calculated by dividing the Trust’s net assets by the number of units currently outstanding.
3. The Annualized Distribution Rate at Initial NAV is calculated by dividing the Trust's current Annualized Distribution per Unit by the Trust's initial NAV of $10.00.

Performance

Historical Total Returns (%) as of Sep 30, 2023

10/31/202309/30/2023
Annualized
1 Mo. 3 Mo. YTD 1 Yr. 3 Yrs. 5 Yrs. Since Trust Inception4
10/31/2023
U.S. Legacy Income Trust IV -2.63 -6.91 8.78 11.92 8.00 — 4.15
   Income Component of Return 0.64 1.88 7.50 8.86 7.39 — 7.33
   Principal Component of Return -3.25 -8.62 1.19 2.80 0.57 — -2.96
Legacy Income Common Trust Fund -2.53 -6.65 9.70 13.05 9.06 — 5.22
MSCI World Index5 -2.90 -9.31 7.88 10.48 8.14 8.26 7.18
40% MSCI USA / 60% MSCI World ex USA6 -3.46 -10.04 5.51 11.48 7.32 6.75 5.61
09/30/2023
U.S. Legacy Income Trust IV -2.36 -1.43 11.72 23.59 7.50 — 4.86
   Income Component of Return 0.62 1.82 6.81 8.88 7.38 — 7.32
   Principal Component of Return -2.96 -3.19 4.59 13.51 0.11 — -2.29
Legacy Income Common Trust Fund -2.27 -1.17 12.55 24.80 8.55 — 5.93
MSCI World Index5 -4.31 -3.46 11.10 21.95 8.08 7.25 8.04
40% MSCI USA / 60% MSCI World ex USA6 -3.91 -3.73 9.30 22.95 7.34 5.83 6.57
U.S. Legacy Income Trust IV (Trust) is no longer offered and does not accept new contributions. The Trust pursues its investment program by investing through Legacy Income Common Trust Fund (Common Trust), a common trust fund that commenced operations on April 30, 2019. Past performance is no guarantee of future results. Performance is for the stated time periods only; due to market volatility, the Trust's and the Common Trust's current performance may be lower or higher than quoted. Total Return for the Trust and the Common Trust is calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Performance for the time periods less than or equal to one year is cumulative. Income Component of Return represents the portion of the Trust's total return that is attributable to distributions. Principal Component of Return represents the portion of the Trust's total return that is attributable to changes in NAV. Total returns and the Trust's Income Component of Return are stated net of foreign taxes withheld on dividends received on non-U.S. investments. Trust income beneficiaries are generally eligible to receive a federal income tax credit or an itemized deduction for their attributable share of unrecovered foreign withholding tax. Please see the below schedule of available federal income tax credits for foreign taxes paid.

The Common Trust’s investment program combines dividend-capture trading (focused primarily on non-U.S. equities) and a core equity approach (focused primarily on U.S. equities). The Common Trust’s long-term target allocation is approximately 60% non-U.S. equities and approximately 40% U.S. equities. Allocations will vary over time depending on portfolio income needs, dividend seasonality, risk management considerations and other factors. The Common Trust typically maintains 140-200 holdings, with a maximum active weight vs. benchmark of 3%. In addition to other risk management practices, the Common Trust manages stock weightings and contribution to predicted tracking error on an industry and country basis.
 

Calendar Year Total Returns (%)

20194 2020 2021 2022
U.S. Legacy Income Trust IV 2.21 8.82 19.79 -17.12
   Income Component of Return 4.53 7.40 6.01 7.52
   Principal Component of Return -2.21 1.32 13.01 -22.92
Legacy Income Common Trust Fund 2.95 9.99 20.87 -16.25
MSCI World Index 5 9.62 15.90 21.82 -18.14
40% MSCI USA / 60% MSCI World ex USA6 8.99 12.76 18.06 -16.46
 

NAV History

Date NAV NAV Change
Dec 01, 2023 $9.52 $0.07
Nov 30, 2023 $9.45 $0.01
Nov 29, 2023 $9.44 -$0.01
Nov 28, 2023 $9.45 -$0.00
Nov 27, 2023 $9.45 -$0.01
Nov 24, 2023 $9.46 $0.06
Nov 22, 2023 $9.41 $0.04
Nov 21, 2023 $9.37 -$0.04
Nov 20, 2023 $9.41 $0.06
Nov 17, 2023 $9.35 $0.07
Nov 16, 2023 $9.28 -$0.00
Nov 15, 2023 $9.28 -$0.03
Nov 14, 2023 $9.31 $0.19
Nov 13, 2023 $9.12 $0.02
Nov 10, 2023 $9.10 $0.08
Nov 09, 2023 $9.03 -$0.04
Nov 08, 2023 $9.07 -$0.00
Nov 07, 2023 $9.07 -$0.02
Nov 06, 2023 $9.09 $0.01
Nov 03, 2023 $9.08 $0.09
Nov 02, 2023 $8.99 $0.18
Nov 01, 2023 $8.81 $0.08
Oct 31, 2023 $8.73 $0.01
Oct 30, 2023 $8.72 $0.09
Oct 27, 2023 $8.63 -$0.04
 

Distribution History

Ex-Date Distribution
Oct 31, 2023 $0.05600
Sep 29, 2023 $0.05600
Aug 31, 2023 $0.05600
Jul 31, 2023 $0.05600
Jun 30, 2023 $0.05600
May 31, 2023 $0.05600
Apr 28, 2023 $0.05600
Mar 31, 2023 $0.05600
Feb 28, 2023 $0.05600
Jan 31, 2023 $0.05600
View All
 

Foreign Tax Credit History7

Tax Year Per Share % of NAV
20194 $0.052 0.52%
2020 $0.087 0.89%
2021 $0.105 1.06%
2022 $0.096 1.11%

4. From the inception of the Trust and the Common Trust on April 30, 2019. Indicated results for the 2019 calendar year are not annualized.
5. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the Trust. Returns of the MSCI World Index are stated net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
6. The MSCI USA Index is a free float-adjusted market capitalization index that is designed to measure large and midcap U.S. equity market performance. MSCI World ex USA Index is an unmanaged index of equity securities in the developed markets, excluding the United States. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the Trust. Returns of the MSCI indexes are stated net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
7. The indicated foreign tax credit represents the federal income tax credit for foreign taxes paid that was available to a Trust account income beneficiary for units of the Trust held the entire period.

Literature

Literature

U.S. Legacy Income Trusts Investment Overview Fact Sheet

Download U.S. Legacy Income Trusts Investment Overview Fact Sheet - Last updated: Nov 15, 2023

Legacy Income Common Trust Fund Financial Statement and Auditors' Report

Download Legacy Income Common Trust Fund Financial Statement and Auditors' Report - Last updated: Dec 31, 2022