Eaton Vance Tax-Managed Buy-Write Opportunities Fund

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-Managed Buy-Write Income Fund (the “Buy-Write Income Fund”), Eaton Vance Tax-Managed Buy-Write Opportunities Fund (the “Buy-Write Opportunities 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 on Wednesday, April 10, 2024 at 11:30 a.m. (Eastern Time) at the principal office of each Fund, One Post Office Square, Boston, Massachusetts 02109, as discussed further herein. The Annual Meeting will be held for the purposes set forth in the accompanying notice. This proxy statement and the enclosed proxy cards are first being sent or given to shareholders on or about February 23, 2024.

The Board of Trustees of each Fund (the “Board” or the “Board of Trustees”) has fixed the close of business on January 30, 2024 as the record date for the determination of the shareholders entitled to notice of and to vote at the Annual Meeting and any adjournments or postponements thereof. The number of common shares of beneficial interest, $0.01 par value per share (“Common Shares”), of each Fund outstanding on January 30, 2024, were as follows:

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

As of January 30, 2024, to each Fund’s knowledge: (i) no shareholder owned more than 5% of the outstanding Common Shares 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 Common Shares of the Fund.

Shareholders as of the close of business on the record date of January 30, 2024, 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.

If you are a record holder of Fund shares and plan to attend the Annual Meeting, 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 you hold Fund shares through an intermediary and plan to attend and vote at the Annual Meeting, you will be required to show a valid photo identification and 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.