Eaton Vance is a leader in the tax-efficiency movement and has launched a number of funds designed specifically to reduce tax exposure, including Eaton Vance Tax-Advantaged Global Dividend (NYSE: ETG ).

ETG is a broadly focused fund with a heavy weighting in foreign markets. The primary goal is simple: distribute a high level of dividend income that qualifies for the reduced tax rate. The managers don't simply toss any stock that qualifies into the portfolio; they focus on companies that are likely to raise dividends and have substantial capital appreciation potential.

At the moment, the portfolio includes roughly 130 stocks, and the high-yielding utility, energy and financial sectors represent more than half of the fund's assets. From a geographic standpoint, the portfolio is split almost equally between North America and Europe.

Following a sharp increase last April, shareholders can currently expect monthly distributions of $0.1438 per share. That works out to an annual payment of about $1.73 per year, for a yield of 6.9%. And if the past is any indication, then the lion's share of those payouts will be taxed at the favorable 15% rate.

For the fiscal year ending October 31, 2007, the fund reported net investment income (after paying dividends on preferred shares issued for leverage) of $124.5 million, or $1.63 per share — and 100% of its ordinary income qualified for the reduced rate.

Meanwhile, shareholders were treated to total returns (dividends plus appreciation) of +27.2% for the year, versus just +10.8% for the benchmark Russell 1000 Value Index. And over the past 3 calendar years, ETG has returned an average of +15.4%.

In recent months, ETG's managers have countered the threat of rising inflation by shifting into hard assets — a move that has already paid off. And looking ahead, the fund has just secured the financing to redeem all of its $750 million in preferred shares and will begin using lower-cost debt to fund its leverage — which should leave more cash left over for dividends, helping to make it a good fit for anyone looking to maximize their after-tax global income.