Saba Closed-End Funds ETF
CEFS

$21.21

0.05%

Market Cap: 213M

0

Funds holding %

of 6,702 funds

–

Analysts bullish %

0

News positive %

of 3 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

93% more repeat investments, than reductions

Existing positions increased: 27 | Existing positions reduced: 14

80% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 5

13% more capital invested

Capital invested by funds: $53.1M [Q4 2023] → $59.8M (+$6.69M) [Q1 2024]

8% more funds holding

Funds holding: 53 [Q4 2023] → 57 (+4) [Q1 2024]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q4 2023] → 1 (+0) [Q1 2024]

1.38% less ownership

Funds ownership: 33.71% [Q4 2023] → 32.33% (-1.38%) [Q1 2024]

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Research analyst outlook

We haven’t received any recent analyst ratings for CEFS.

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Financial journalist opinion

Based on 3 articles about CEFS published over the past 30 days

8-15% Yield Options In The Saba Fund Suite

We take a look at the trio of Saba's public investment funds. CEFS is a pure-play fund of CEFs, while the CEFs BRW and SABA have allocations to a diverse array of securities, including reinsurance, loans, stocks, SPACs, crypto, etc. SABA will likely transition over time to be similar to BRW - it remains our favored option between the two funds.

8-15% Yield Options In The Saba Fund Suite

Undercovered Dozen ETF Edition: China, Bitcoin, Cybersecurity, Motley Fool +

This ETF Edition highlights 12 less covered exchange-traded fund ideas on Seeking Alpha from June 1st - July 15th. ETFs in our first edition include Saba Closed-End Funds, iShares 20+ Year Treasury Bond BuyWrite Strategy, Global X Russell 2000 Covered Call, Invesco S&P 500 GARP, and more. Managed futures are in focus with one ETF idea where the author writes they "offer potential for maximizing income, boosting returns, and reducing volatility in a portfolio".

Undercovered Dozen ETF Edition: China, Bitcoin, Cybersecurity, Motley Fool +

CEF Weekly Review: Saba And Invesco Call Truce (For Now)

We review CEF market valuation and performance through the third week of June and highlight recent market action. CEFs were mixed with widening discounts, but most sectors are up month-to-date, led by munis due to lower Treasury yields. Saba and Invesco reached a standstill agreement for two state Muni CEFs, with a tender offer for 25% of shares at 99% of NAV.

CEF Weekly Review: Saba And Invesco Call Truce (For Now)

CEFS: Remains An Attractive Closed-End Fund Focused ETF

Saba Closed-End Funds ETF has put up strong performance since our last update and beat out FOF as expected. CEFS is a leveraged ETF that invests in closed-end funds, providing exposure to activist targets of Saba Capital Management all in one package. CEFS has a solid track record, high distribution yield, and a diversified portfolio of equity, fixed-income, alternatives, and mixed allocation.

CEFS: Remains An Attractive Closed-End Fund Focused ETF

CEFS: A Unique Closed-End Fund Play

Saba Closed-End Funds ETF aims to generate excess returns by investing in closed-end funds trading discounted to their net asset value. The CEFS ETF is managed by Saba Capital Management, founded by Boaz Weinstein, and owns over 100 closed-end funds. The fund offers diversification across asset classes and investment managers, with a focus on equities, and has a high expense ratio of 5.81%.

CEFS: A Unique Closed-End Fund Play

3 Strong Income ETFs, With +8.0% Yields

BIZD, CEFS, and CLOZ are three income ETFs offering investors strong, above-average yields, in the 8.4%-10.5% range. BIZD has the highest yield but is quite risky. CLOZ has the lowest yield, with low realized volatility, but some liquidity risks. CEFS is somewhere in between. All are strong, albeit somewhat risky, choices.

3 Strong Income ETFs, With +8.0% Yields

Sell MDIV, Buy CEFS

MDIV is a multi-asset class ETF focusing on income-producing asset classes and securities. The fund's strategy and security selection process have led to underperformance compared to index funds of its underlying asset classes. It pales in comparison to some of its peers, especially CEFS.

Sell MDIV, Buy CEFS

Dissecting The Current CEF Sell-Off And Opportunities

We take a look at the shape of the current CEF sell-off. The sell-off has followed a similar pattern to previous instances, with equity funds falling more than fixed-income funds, leveraged funds underperforming and discounts widening. Longer-duration assets may become more compelling as longer-term rates rise, and investors should consider adding them to their portfolios.

Dissecting The Current CEF Sell-Off And Opportunities

CEFS: Good Relative To Peers, But Lagging Inflation

Saba Closed-End Funds ETF is an actively managed ETF of closed-end funds with a distribution rate of 8.53% and a portfolio of 98 CEFs. The fund has a flexible investment strategy but lacks transparency, combining fundamental and quantitative analysis. The fund has outperformed its competitors since inception, but the price and distributions have remained flat, resulting in a decay of inflation-adjusted value for shareholders.

CEFS: Good Relative To Peers, But Lagging Inflation

Passive Vs. Active ETFs Of CEFs

While ETFs are traditionally passive products, active opportunities in the broader ETF market have been growing significantly over the past few years. Active ETFs of CEFs have historically had lower distribution rates than their passive counterparts.

Passive Vs. Active ETFs Of CEFs

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