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Monthly Paying
Closed-End
Funds
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Returns
• Portfolio Details
• About Closed-End
Funds
Managed high-dividend closed-end funds
typically outperform high-dividend conventional (open end) mutual funds
and ETFs focusing on the same sector. This portfolio contains
monthly-paying fixed-income closed-end funds.
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February Wrap-Up
(3/1/24)
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Monthly Closed-End Fund
Returns
Returns: price
changes plus dividends
|
Date
Added |
Last Month's
Mkt. Return |
Year to Date
Mkt. Return |
Mkt. Return
Since Added |
Last Month's
NAV Change |
Year to Date
NAV Return |
Premium/
Discount |
|
BlackRock Energy & Resources
|
3/1/23 |
2.0% |
-0.2% |
4.4% |
2.5% |
1.5% |
-13.5% |
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Calamos Strategic Total Return
|
12/1/18 |
3.7% |
7.8% |
82.2% |
5.7% |
7.4% |
-2.4% |
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Eagle Point Credit
|
8/1/23 |
1.8% |
9.5% |
7.8% |
-1.7% |
3.7% |
13.4% |
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First Trust Energy Infrastructure
|
12/1/23 |
3.5% |
2.3% |
2.9% |
2.7% |
1.2% |
-4.7% |
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Invesco Senior Income Trust
|
10/1/23 |
2.0% |
3.3% |
11.4% |
1.1% |
1.0% |
1.5% |
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Portfolio Returns: 2.6% |
4.2% |
|
2.0% |
|
-1.1% |
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Looking at 12-month returns, Calamos Strategic and
First Trust Energy, both up 25%, have done the best. BlackRock Energy, up
6%, and Eagle Point Credit, up 10%, trail the pack.
As of
February 29, our portfolio was trading at an average 1% discount to its
net asset value, vs. a 2% discount at January 31 and a 3% discount at
December 31.
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Closed-End Fund Terminology Definitions Below Table
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Ticker |
Portfolio Details
Data 2/29/24
Unless otherwise noted, all picks are "buy" rated.
|
Recent
Price |
Yield |
Disc/Prem
to NAV |
Leverage |
Div.
Freq. |
Risk |
|
BGR |
BlackRock Energy &
Resources |
12.29 |
6.4% |
-14% |
0% |
M |
2 |
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Holds energy and natural resource industry
common stocks of all market-caps, about 60% US based. Biggest
holdings include Exxon Mobil and Chevron. Pays $0.0657/share.
Quote
|
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CSQ |
Calamos Strategic Total Return |
15.93 |
7.7% |
-2% |
30% |
M |
1 |
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Holds mostly U.S.-based stocks (50%+),
convertible securities, and high yield corporate bonds. Overweights
technology, financial services and healthcare. Pays
$0.1025/share.
Quote
|
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ECC |
Eagle Point Credit |
10.08 |
19.0% |
13% |
29% |
M |
4 |
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Holds equity and junior debt tranches of collateralized loan
obligations consisting primarily of below investment grade U.S.
senior secured loans. Pays
$0.16/share.
Quote
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|
FIF |
First Trust Energy
Infrastructure |
16.64 |
7.2% |
-5% |
20% |
M |
3 |
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Focuses on energy infrastructure companies
such as pipelines, power transmission companies, petroleum and
natural gas storage firms. Pays
$0.10/share.
Quote
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VVR |
Invesco Senior Income |
4.15 |
11.3% |
2% |
33% |
M |
2 |
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Invesco Senior Income Trust primarily
holds floating or variable rate senior loans to corporations.
Pays
$0.0438/share.
Quote
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Closed-End Fund Terminology
Risk Rating:
Estimates risk of loss due to overall market or sector
volatility. One is lowest risk, three is average, and five is highest
risk.
Net Asset Value: per share
value of fund's assets.
Disc/Prem to NAV
(discount/premium to net asset value): share price vs. net asset
value. All else equal, funds trading at a discount to net asset value
will pay higher yields than similar funds trading at a premium to NAV.
However, some funds almost always trade at a premium, while others
typically trade at a discount.
Leverage:
Some funds employ borrowed funds to enhance returns. Leverage is the
percentage of borrowed funds vs. total assets. Leveraged funds earn more
than non-leveraged funds when interest rates are low, but underperform
when carrying costs exceed investment profit margins.
Div. Freq: All funds in this
portfolio pay dividends monthly.
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