Eaton Vance Tax-Managed Diversified Equity Income Fund, launched and managed by Eaton Vance Management, is a closed-ended equity mutual fund that invests in public equity markets across the globe, focusing mainly on dividend-paying stocks of companies operating across diversified sectors. It also generates current cash flow by writing S&P 500 Index call options with respect to a portion of the value of its common stock portfolio. Furthermore, the fund benchmarks the performance of its portfolio against a composite benchmark comprised of 80% S&P 500 Index and 20% FTSE Eurotop 100 Index.