The Eaton Vance Short Duration Diversified Income Fund (EVG) is a mutual fund that focuses on providing investors with a diversified portfolio of short-term fixed income securities. This fund aims to generate income while also managing risk through a mix of high-quality bonds, money market instruments, and other debt securities. With a focus on short-term investments, the EVG fund offers a lower level of interest rate risk compared to longer-term bond funds. This makes it a suitable option for investors seeking a conservative approach to generating income and managing their investments.