Eaton Vance Tax-Managed Diversified Equity Income Fund is a closed-ended equity mutual fund that focuses on investing in dividend-paying stocks across global public equity markets, targeting diversified sectors. Managed by Eaton Vance Management, it aims to generate income through dividends and writing S&P 500 Index call options, enhancing cash flow from premiums. The fund diversifies its investments across at least three countries, including the U.S., and uses derivatives as part of its strategy. It measures its performance against a mix of 80% S&P 500 Index and 20% FTSE Eurotop 100 Index.