CEFs have initial public offerings (IPOs) like stocks, and there is a fixed number of shares that then trade on the stock market. All other trademarks are those of their respective owners. So via PHYS, you can buy gold at a modest discount to market prices. The Fund manager takes into account ESG considerations in combination with other information in the research and decision phases of the investment process. Only time will tell. The Nuveen Credit Strategies Income Fund trades at a 9.8% discount to NAV. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or investments in which no secondary market is readily available or which are otherwise illiquid, including private placement securities. All performance after inception of the share class is actual performance. If a Fund estimates that it has distributed more than its income and net realized capital gains in the current fiscal year; a portion of its distribution may be a return of capital. Each of these funds trades at a reasonable discount to NAV and offers a yield that's at least competitive, if not downright extravagant. Is Meta Stock Still a Buy After Its Big Rally? Learn more about ETG at the Eaton Vance provider site. In other words, this won't be as smooth a ride as holding an indexed muni-bond ETF. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Investment return and principal value of an investment will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than the original cost. Or we might see several more quarters of high inflation. Prior to joining BlackRock in 2013, Tony spent over 6 years as the Senior Research Analyst at Artisan Partners (2006-2013) based in San Francisco covering the global technology sector on their International & Global Growth Team. Learn more about MFM at the MFS provider site. These products and services are usually sold through license agreements or subscriptions. Learn more about BTT at the BlackRock provider site. By Jeff Reeves The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited. Published 20 January 22. The potential returns here look juicy, which is why JQC is one of the best closed-end funds to buy. Interactive chart displaying fund performance. It targets a $25 net asset value at the end of its term, and the fund trades at a deep 8.0% discount to NAV. In such instances, the relevant share class-specific fee is applied to the synthetic, pre-inception performance to show how the share class would have performed had it existed over the time period shown. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Forward-looking statements are typically identified by words or phrases such as trend, potential, opportunity, pipeline, believe, comfortable, expect, anticipate, current, intention, estimate, position, assume, outlook, continue, remain, maintain, sustain, seek, achieve, and similar expressions, or future or conditional verbs such as will, would, should, could, may or similar expressions. For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. The SPDR Gold Shares (GLD (opens in new tab)) offers exposure to the yellow metal in an ETF wrapper, for example. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. Please replace the release dated April 11, 2023, with the following corrected version due to changes in the table, "Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023". Read the prospectus carefully before investing. New York, BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the Closed-end funds often sell at massive discounts to net asset value (NAV). So anyone buying today can enjoy the 8.2% dividend while waiting for the discount to close. Gear advertisements and other marketing efforts towards your interests. Under normal market conditions, the Trust will invest at least 80% of its total assets in equity securities . That same leverage also allows closed-end funds to sport some of the highest yields you're likely to find. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times. Performance results reflect past performance and are no guarantee of future results. Investing involves risk, including possible loss of principal.Fund details, holdings and characteristics are as of the date noted and subject to change. Speaking of energy, good old fashioned oil stocks were some of the best performers in 2022 and the energy sector entered 2023 with strong momentum. Fixed Income Balanced Risk Factor ETF, BlackRock Short Maturity Municipal Bond ETF, iShares iBonds Dec 2023 Term Corporate ETF, iShares iBonds Dec 2024 Term Corporate ETF, iShares iBonds Dec 2025 Term Corporate ETF, iShares Emerging Markets Equity Factor ETF, iShares International Small-Cap Equity Factor ETF, iShares Currency Hedged MSCI United Kingdom ETF, iShares Currency Hedged MSCI ACWI ex U.S. ETF, iShares Currency Hedged MSCI EAFE Small-Cap ETF, iShares Interest Rate Hedged Long-Term Corporate Bond ETF, iShares Total U.S. Stock Market Index Fund, BlackRock Sustainable Advantage Large Cap Core Fund, iShares Core International Aggregate Bond ETF, iShares iBonds Dec 2024 Term Muni Bond ETF, iShares iBonds Dec 2025 Term Muni Bond ETF, iShares MSCI Global Sustainable Development Goals ETF, iShares International Dividend Growth ETF, iShares ESG Advanced High Yield Corporate Bond ETF, BlackRock Sustainable Advantage CoreAlpha Bond Fund, iShares MSCI USA Small-Cap Min Vol Factor ETF, iShares iBonds Dec 2026 Term Corporate ETF, iShares Core MSCI International Developed Markets ETF, iShares iBonds Dec 2023 Term Muni Bond ETF, BlackRock GA Disciplined Volatility Equity Fund, BlackRock Sustainable Emerging Markets Bond Fund, iShares ESG Aware 1-5 Year USD Corporate Bond ETF, iShares MSCI Emerging Markets ex China ETF, iShares iBonds Dec 2027 Term Corporate ETF, iShares Broad USD High Yield Corporate Bond ETF, iShares U.S. Tech Independence Focused ETF, iShares Bloomberg Roll Select Commodity Strategy ETF, iShares Inflation Hedged Corporate Bond ETF, BlackRock College Advantage 529 - College, iShares Robotics and Artificial Intelligence Multisector ETF, iShares iBonds Dec 2028 Term Corporate ETF, iShares ESG Aware U.S. BlackRock Closed-End Funds 1-800-882-0052. These high-yield ETFs show that there's no shortage of ways to balance risk and reward in the quest for better-than-average income. * Includes 1.41% in management fees, 0.30% in additional expenses and 1.36% in interest expenses. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visitwww.iShares.comorwww.blackrock.com. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. As market sentiment improves, that discount should shrink, adding additional returns to the fat 10.63% yield. The fund manages this risk by holding a first-lien position in 80% of the portfolio. And here's the best part of all: CEM trades at a nearly 14% discount to NAV. (opens in new tab). . Read the prospectus carefully before investing. The fund accepts a fair amount of credit risk, however, as it owns a portfolio of senior-secured and second-lien loans made to companies that are mostly below investment grade. The . BST commenced operations in October 2014 with the investment objectives of providing income and total return through a combination of current income, current gains and long-term capital appreciation. Performance shown may reflect fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Had sales charge been included, returns would have been lower. At current prices, ETG trades at an 8.3% discount to net asset value and yields a very competitive 7.4%. CEF prices are set by the market the same way a share of Apple (AAPL (opens in new tab)) or Amazon.com (AMZN (opens in new tab)) would be, but that price can vary wildly from the value of the assets the fund holds. The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Barclays, Bloomberg Finance L.P., Cohen & Steers Capital Management, Inc., European Public Real Estate Association (EPRA ), FTSE International Limited (FTSE), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (NAREIT), New York Stock Exchange, Inc., Russell or S&P Dow Jones Indices LLC. The best closed-end funds will significantly boost your portfolio income and allow you to buy their underlying stocks and bonds at a discount. Past distributions are not indicative of future distributions. 8.51-0.03-0.35%: BGR. 2023 BlackRock, Inc. All rights reserved. But after years dealing with brutal competitive conditions, the energy infrastructure sector is the leanest and best capitalized it's been in living memory. Charles Lewis Sizemore, CFA is the Chief Investment Officer of Sizemore Capital Management LLC, a registered investment advisor based in Dallas, Texas, where he specializes in dividend-focused portfolios and in building alternative allocations with minimal correlation to the stock market. Mutual funds are open-ended. In these cases, they're effectively worth more dead than alive! Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. The discount to net asset value is noteworthy to investors seeking out the best closed-end funds because as recently as October of last year, ETG actually traded at a slight premium to net asset value. Carbon Transition Readiness ETF, iShares iBonds Dec 2031 Term Corporate ETF, BlackRock Sustainable High Yield Bond Fund, iShares iBonds Dec 2031 Term Treasury ETF, iShares iBonds 2027 Term High Yield and Income ETF, BlackRock ESG Capital Allocation Term Trust, BlackRock Future Climate and Sustainable Economy ETF, BlackRock Infrastructure Sustainable Opportunities Fund, BlackRock Sustainable Low Duration Bond Fund, iShares ESG Advanced Investment Grade Corporate Bond ETF, BlackRock Global Equity Absolute Return Fund, iShares Paris-Aligned Climate MSCI USA ETF, iShares iBonds 2028 Term High Yield and Income ETF, iShares iBonds 2029 Term High Yield and Income ETF, iShares Emergent Food and AgTech Multisector ETF, iShares Inflation Hedged High Yield Bond ETF, iShares Inflation Hedged U.S. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . Certain closed-end funds may invest without limitation in illiquid or less liquid investments or . To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies; 6MSCI Implied Temperature Rise. Standardized performance and performance data current to the most recent month end may be obtained by clicking on the fund names above. Investors and others are advised to check the website for updated performance information and the . Yet these are exactly the kinds of opportunities that arise in the market's best closed-end funds (CEFs). Get the latest news on BlackRocks closed-end funds. During such periods, some investments could be sold only at arbitrary prices and with substantial losses. The Fed might be successful in bringing inflation to heel. And this might seem normal given that most of the world's largest and most innovative growth and technology companies reside in the good, ol' U.S. of A. BlackRock Energy and Resources Trust. All else equal, this should benefit European stocks, as European stock markets tend to be full of older, more traditional value stocks. Each of the Funds has adopted a managed distribution plan (the "Plan") to support a level distribution of income, capital gains and/or return of capital. More articles loaded. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. Terms of Service apply. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (NAV) per share, which could result in incremental accretion to a Funds NAV. A few of its biggest holdings are solid pipeline firms Energy Transfer (ET (opens in new tab)), Enterprise Products Partners (EPD (opens in new tab)) and MPLX (MPLX (opens in new tab)). Fees data reflected above is current as of the latest annual shareholder report. The problem, of course, is that cheap CEFs can stay cheap forever in the absence of a catalyst to close the discount to NAV. * Includes 1.41% in management fees, 0.33% in additional expenses, 1.34% in interest expenses and 0.01% in income tax expenses. * Includes 1.06% in management fees, 0.08% in other expenses and 0.44% in interest expenses. So if you buy one at a discount and hold until liquidation, you should benefit handsomely as that discount narrows. 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