Eaton Vance Risk Managed Diversified Equity Income Fund : Proxy Statement

Eaton Vance Enhanced Equity Income Fund II

Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance Tax-ManagedBuy-Write Income Fund

Eaton Vance Tax-ManagedBuy-Write Opportunities Fund

Eaton Vance Tax-ManagedBuy-Write Strategy Fund

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

Two International Place

Boston, Massachusetts 02110

February 24, 2023

Dear Shareholder:

You are cordially invited to attend the Annual Meeting of Shareholders (the "Annual Meeting") of your Fund, which will be held in a hybrid format at the principal office of each Fund, Two International Place, Boston, Massachusetts 02110 and telephonically, on Wednesday, April 12, 2023 at 11:30 a.m. (Eastern Time).

At this Annual Meeting you will be asked to consider the election of Trustees. The enclosed proxy statement contains additional information.

We hope that you will be able to attend the Annual Meeting. Whether or not you plan to attend and regardless of the number of shares you own, it is important that your shares be represented. I urge you to complete, sign and date the enclosed proxy card and return it in the enclosed postage-paid envelope as soon as possible to assure that your shares are represented at the Annual Meeting.

Sincerely,

R. Kelly Williams, Jr.

R. Kelly Williams, Jr.

President

YOUR VOTE IS IMPORTANT - PLEASE RETURN YOUR PROXY CARD PROMPTLY.

It is important that your shares be represented at the Annual Meeting. Whether or not you plan to attend, you are requested to complete, sign and return the enclosed proxy card as soon as possible. You may withdraw your proxy if you attend the Annual Meeting and desire to vote at the Annual Meeting.

Eaton Vance Enhanced Equity Income Fund II

Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance Tax-ManagedBuy-Write Income Fund

Eaton Vance Tax-ManagedBuy-Write Opportunities Fund

Eaton Vance Tax-ManagedBuy-Write Strategy Fund

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be Held on Wednesday, April 12, 2023: The Notice of Annual Meeting of Shareholders, Proxy Statement, Proxy Card and Shareholder Report are available on the Eaton Vance website at https://funds.eatonvance.com/closed-end-fund-and-term-trust-documents.php.

The Annual Meeting of Shareholders of each of the above registered investment companies, each a Massachusetts business trust (collectively, the "Funds"), will be held in a hybrid format at the principal office of each Fund, Two International Place, Boston, Massachusetts 02110 and telephonically, on Wednesday, April 12, 2023 at 11:30 a.m. (Eastern Time), for the following purposes:

1. To elect Trustees of each Fund as outlined below:
2. 1. For Eaton Vance Enhanced Equity Income Fund II and Eaton Vance Risk-Managed Diversified Equity Income Fund, four Class I Trustees, Thomas E. Faust Jr., Cynthia E. Frost, Keith Quinton and Scott E. Wennerholm, to be elected by shareholders of each Fund;
   2. For Eaton Vance Tax-ManagedBuy-Write Income Fund, Eaton Vance Tax-ManagedBuy-Write Opportunities Fund and Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund, four Class III Trustees, Alan C. Bowser, Mark R. Fetting, Valerie A. Mosley and Marcus L. Smith, to be elected by shareholders of each Fund; and
   3. For Eaton Vance Tax-ManagedBuy-Write Strategy Fund, four Class I Trustees, Thomas E. Faust Jr., Cynthia E. Frost, Scott E. Wennerholm and Nancy A. Wiser, to be elected by shareholders of the Fund.
3. To consider and act upon any other matters that may properly come before the meeting and any adjourned or postponed session thereof.

Although each Fund is holding a separate meeting, the meetings will be held concurrently. Shareholders of each Fund will vote separately. Any such vote FOR or AGAINST a proposal will also authorize the persons named as proxies to vote accordingly FOR or AGAINST any such adjournment of the Annual Meeting of Shareholders.

At a special meeting of shareholders on March 16, 2023, shareholders of Eaton Vance Tax-ManagedBuy-Write Strategy Fund ("Acquired Fund") will be asked to approve an Agreement and Plan of Reorganization pursuant to which the Acquired Fund will be reorganized with and into Eaton Vance Tax-ManagedBuy-Write Opportunities Fund ("Acquiring Fund"), as approved by the Acquired Fund's Board of Trustees (the "Reorganization"). If shareholders of the Acquired Fund approve the Reorganization, it is expected that the Reorganization will be consummated prior to the Annual Meeting. In this case, the Acquired Fund will not hold its Annual Meeting and proposals with respect to the Acquired Fund discussed herein will not be presented for shareholder consideration."

The Board of Trustees of each Fund (the "Board") has fixed the close of business on January 31, 2023 as the record date for the determination of the shareholders of a Fund entitled to notice of and to vote at the Annual Meeting and any adjournments or postponements thereof. As part of our effort to maintain a safe and healthy environment at our Annual Meeting, we are pleased to offer our shareholders a hybrid meeting format. Subject to certain requirements discussed herein, shareholders may attend the Annual Meeting in person or telephonically.

If, as of January 31, 2023, you were a holder of record of Fund shares (i.e., you held Fund shares in your own name directly with the Fund) and you would like to be provided with the conference call dial-in information to participate in the Annual Meeting, you should email your full name and address to AST Fund Solutions, LLC ("AST") at [e-mail] and include the Fund name(s) in the subject line. You will then be provided with the conference call dial-in information and instructions for voting during the Annual Meeting. All requests to participate in the Annual Meeting telephonically must be received by AST no later than 3:00 p.m. Eastern Time on April 11, 2023.

If you are a record holder of Fund shares and plan to attend the Annual Meeting in person, you must show a valid photo identification (such as a driver's license) to gain admission to the Annual Meeting. Please call 1-800-262-1122 for information on how to obtain directions to be able to attend and vote at the Annual Meeting.

If, as of January 31, 2023, you held Fund shares through an intermediary (such as a broker-dealer) and wish to participate in and vote at the Annual Meeting, you will need to obtain a legal proxy from your intermediary reflecting the Fund name, the number of Fund shares you held and your name and email address. If you would like to be provided with the conference call dial-in information and instructions for voting during the Annual Meeting, you may forward an email from your intermediary containing

the legal proxy or attach an image of the legal proxy to an email and send it to AST at [e-mail] with

"Legal Proxy" in the subject line. You will then be provided with the conference call dial-in information and instructions for voting during the Annual Meeting. All requests to participate in the Annual Meeting telephonically must be received by AST no later than 3:00 p.m. Eastern Time on April 11, 2023.

If you hold Fund shares through an intermediary and plan to attend and vote at the Annual Meeting in person, you will be required to show a valid photo identification, your authority to vote your shares (referred to as a "legal proxy") to gain admission to the Annual Meeting. As described above, you must contact your intermediary to obtain a legal proxy for your shares.

All shareholders may contact AST at [e-mail] with any questions regarding how to attend the Annual Meeting telephonically, and an AST representative will contact you to answer your questions.

The Funds and the Board are closely monitoring developments with respect to COVID-19 and the advice and guidance of public health officials. For that reason, the Board reserves the right to reconsider the date, time and/or means of convening the Annual Meeting. Subject to any restrictions imposed by applicable law, the Board may choose to conduct the Annual Meeting solely by means of remote communications. If the Board chooses to change the date, time and/or means of convening the Annual Meeting, the Fund will announce the decision to do so in advance, and details on how to participate will be issued by press release and filed with the Securities and Exchange Commission as additional proxy material. Attendees are also encouraged to review guidance from public health authorities on this issue.

By Order of each Board of Trustees

Nicholas S. Di Lorenzo

Nicholas S. Di Lorenzo

Secretary

February 24, 2023

Boston, Massachusetts

IMPORTANT

Shareholders can help the Board of Trustees of their Fund(s) avoid the necessity and additional expense to the Funds of further solicitations by promptly returning the enclosed proxy. The enclosed addressed envelope requires no postage if mailed in the United States and is intended for your convenience.

Eaton Vance Enhanced Equity Income Fund II

Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance Tax-ManagedBuy-Write Income Fund

Eaton Vance Tax-ManagedBuy-Write Opportunities Fund

Eaton Vance Tax-ManagedBuy-Write Strategy Fund

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

Two International Place

Boston, Massachusetts 02110

PROXY STATEMENT

This proxy statement is furnished in connection with the solicitation of proxies by the Board of Trustees of Eaton Vance Enhanced Equity Income Fund II (the "Enhanced Equity Fund"), Eaton Vance Risk-Managed Diversified Equity Income Fund (the "Risk-Managed Fund"), Eaton Vance Tax-ManagedBuy-Write Income Fund (the "Buy-Write Income Fund"), Eaton Vance Tax-ManagedBuy-Write Opportunities Fund (the "Buy-Write Opportunities Fund"), Eaton Vance Tax-ManagedBuy-Write Strategy Fund (the "Buy-Write Strategy Fund") and Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (the "Global Buy-Write Opportunities Fund") (collectively, the "Funds"). The proxies will be voted at the Annual Meeting of Shareholders of each Fund and at any adjournments or postponements thereof (the "Annual Meeting"). The Annual Meeting will be held in a hybrid format on Wednesday, April 12, 2023 at 11:30 a.m. (Eastern Time) at the principal office of each Fund, Two International Place, Boston, Massachusetts 02110, and telephonically, as discussed further herein. The Annual Meeting will be held for the purposes set forth in the accompanying notice. This proxy material is being mailed to shareholders on or about February 24, 2023.

The Board of Trustees of each Fund (each, the "Board") has fixed the close of business on January 31, 2023 as the record date for the determination of the shareholders entitled to notice of and to vote at the meeting and any adjournments or postponements thereof. The number of Common Shares, $0.01 par value per share ("Common Shares") of each Fund outstanding on January 31, 2023, were as follows:

	No. of Common Shares
	Outstanding on
Fund	January 31, 2023
Enhanced Equity Fund	52,286,225
Risk-Managed Fund	67,301,787
Buy-Write Income Fund	29,371,398
Buy-Write Opportunities Fund	109,268,349
Buy-Write Strategy Fund	9,765,955
Global Buy-Write Opportunities Fund	109,597,786

Each Fund will vote separately on each item; votes of multiple Funds will not be aggregated.

As of January 31, 2023, to each Fund's knowledge: (i) no other shareholder owned more than 5% of the outstanding shares of a Class of the Fund; and (ii) the Trustees and officers of the Fund, individually and as a group, owned beneficially less than 1% of the outstanding shares of the Fund.

Shareholders as of the close of business on the record date, who have voting power with respect to such shares, are entitled to attend and vote at the Annual Meeting. All properly executed proxies received prior to the Annual Meeting will be voted at the Annual Meeting. Each proxy will be voted in accordance with its instructions; if no instruction is given, an executed proxy will authorize the persons named on the respective proxy card enclosed as proxies, or any of them, to vote FOR the election of each Trustee. An executed proxy delivered to a Fund is revocable by the person giving it, prior to its exercise, by a signed writing filed with the Fund's Secretary, by executing and delivering a later dated proxy, or by attending the Annual Meeting and voting the shares at the Annual Meeting. Merely attending the Annual Meeting will not revoke a previously executed proxy. If you hold Fund shares through an intermediary (such as a broker, bank, adviser or custodian), please consult with the intermediary regarding your ability to revoke voting instructions after they have been provided.

At a special meeting of shareholders on March 16, 2023, shareholders of Eaton Vance Tax-ManagedBuy-Write Strategy Fund ("Acquired Fund") will be asked to approve an Agreement and Plan of Reorganization pursuant to which the Acquired Fund will be reorganized with and into Eaton Vance Tax-ManagedBuy-Write Opportunities Fund ("Acquiring Fund"), as approved by the Acquired

1	Proxy Statement dated February 24, 2023

Fund's Board of Trustees (the "Reorganization"). If shareholders of the Acquired Fund approve the Reorganization, it is expected that the Reorganization will be consummated prior to the Annual Meeting. In this case, the Acquired Fund will not hold its Annual Meeting and proposals with respect to the Acquired Fund discussed herein will not be presented for shareholder consideration."

We are pleased to offer our shareholders a hybrid meeting format. Subject to certain requirements discussed herein, shareholders may attend the Annual Meeting in person or telephonically.

If, as of January 31, 2023, you were a holder of record of Fund shares (i.e., you held Fund shares in your own name directly with the Fund) and you would like to be provided with the conference call dial-in information to participate in the Annual Meeting, you should email your full name and address to AST Fund Solutions, LLC ("AST") at [e-mail] and include the Fund name(s) in the subject line. You will then be provided with the conference call dial-in information and instructions for voting during the Annual Meeting. All requests to participate in the Annual Meeting telephonically must be received by AST no later than 3:00 p.m. Eastern Time on April 11, 2023.

If you are a record holder of Fund shares and plan to attend the Annual Meeting in person, you must show a valid photo identification (such as a driver's license). Please call 1-800-262-1122 for information on how to obtain directions to be able to attend and vote at the Annual Meeting.

If, as of January 31, 2023, you held Fund shares through an intermediary (such as a broker-dealer) and wish to participate in and vote at the Annual Meeting, you will need to obtain a legal proxy from your intermediary reflecting the Fund name, the number of Fund shares you held and your name and email address. If you would like to be provided with the conference call dial-in information and instructions for voting during the Annual Meeting, you may forward an email from your intermediary containing the legal proxy or attach an image of the legal proxy to an email and send it to AST at [e-mail] with "Legal Proxy" in the subject line. You will then be provided with the conference call dial-in information and instructions for voting during the Annual Meeting. All requests to participate in the Annual Meeting telephonically must be received by AST no later than 3:00 p.m. Eastern Time on April 11, 2023.

If you hold Fund shares through an intermediary and plan to attend and vote at the Annual Meeting in person, you will be required to show a valid photo identification, your authority to vote your shares (referred to as a "legal proxy"). As described above, you must contact your intermediary to obtain a legal proxy for your shares.

All shareholders may contact AST at [e-mail] with any questions regarding how to attend the Annual Meeting telephonically, and an AST representative will contact you to answer your questions.

The Board knows of no business other than that mentioned in Proposal 1 of the Notice of Annual Meeting of Shareholders that will be presented for consideration. If any other matters are properly presented, it is the intention of the persons named as proxies to vote on such matters in accordance with their judgment.

PROPOSAL 1. ELECTION OF TRUSTEES

Each Fund's Agreement and Declaration of Trust provides that a majority of the Trustees shall fix the number of the entire Board and that such number shall be at least two and no greater than fifteen. Each Board has fixed the number of Trustees at ten. Under the terms of each Fund's Agreement and Declaration of Trust, the Board of Trustees is divided into three classes, each class having a term of three years to expire on the date of the third Annual Meeting following its election. Thus, this could delay for up to two years the replacement of a majority of the Board.

Proxies will be voted for the election of the following nominees:

1. For Enhanced Equity Fund and Risk-Managed Fund, four Class I Trustees, Thomas E. Faust Jr., Cynthia E. Frost, Keith Quinton and Scott E. Wennerholm, to be elected by shareholders of each Fund;
2. For Buy-Write Income Fund, Buy-Write Opportunities Fund and Global Buy-Write Opportunities Fund, four Class III Trustees, Alan C. Bowser, Mark R. Fetting, Valerie A. Mosley and Marcus L. Smith, to be elected by shareholders of each Fund; and
3. For Buy-Write Strategy Fund, four Class I Trustees, Thomas E. Faust Jr., Cynthia E. Frost, Scott E. Wennerholm and Nancy A Wiser, to be elected by shareholders of the Fund.

The Board of Trustees recommends that shareholders vote FOR the election of the Trustee nominees of each Fund.

Each nominee is currently serving as a Trustee of his or her respective Fund and has consented to continue to so serve. In the event that a nominee is unable to serve for any reason (which is not now expected) when the election occurs, the accompanying proxy will be voted for such other person or persons as the Board of Trustees may recommend. Election of Trustees is non-cumulative. Shareholders do not have appraisal rights in connection with the proposal in this proxy statement.

2	Proxy Statement dated February 24, 2023