Saba Closed-End Funds ETF

CEFS

Market cap $321M

Overview Fund Activity

22.66 USD

-0.03

0.13%

At close Updated Sep 16, 4:00 PM EDT

1 day

-0.13%

5 days

0.67%

1 month

0.53%

3 months

2.3%

6 months

3.99%

Year to date

5.99%

1 year

3.23%

5 years

19.14%

10 years

13.93%

0

Funds holding %

of 7,463 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

86% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 7

71% more repeat investments, than reductions

Existing positions increased: 29 | Existing positions reduced: 17

12% more capital invested

Capital invested by funds: $87.2M [Q1] → $97.8M (+$10.6M) [Q2]

9% more funds holding

Funds holding: 68 [Q1] → 74 (+6) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]

0.19% less ownership

Funds ownership: 31.84% [Q1] → 31.65% (-0.19%) [Q2]

See Fund Rankings

Financial journalist opinion

2 CEF Swaps Into ETFs For July 2025

Every month I share what closed-end funds I've been buying in the last month. For July, that included swapping out some holdings in favor of others and consolidating my portfolio a bit. In doing that, it also included swapping out of two CEFs in favor of ETF positions, one of which I already held a position in.

2 CEF Swaps Into ETFs For July 2025

CEFS: Monthly Income With High Total Return

Saba Capital Closed-End Funds ETF (CEFS) is a fund of closed-end funds paying a monthly distribution with special dividend in December. Founder Boaz Weinstein's activist approach drives outperformance, and a high total return. CEFS offers exceptional diversification across 1,000+ positions in stocks, bonds, and alternatives, with active management justifying higher expenses.

CEFS: Monthly Income With High Total Return

CEFS: Professional Exposure To A Niche Market Strategy

Saba Closed-End Funds ETF (CEFS) offers unique exposure to CEF arbitrage, capitalizing on discounts to NAV and activist strategies for potential alpha. Despite an extremely high 4.29% expense ratio, the fund's historical performance and yield (9.39% SEC, 7.74% distribution) are impressive and help justify a buy rating. CEFS is best suited for income-oriented investors seeking risk-adjusted, multi-asset returns, but requires understanding of CEF dynamics and tolerance for volatility.

CEFS: Professional Exposure To A Niche Market Strategy

CEFS: This ETF Holds CEFS, Pays Monthly Plus Year-End Bonuses

Saba Closed-End Funds ETF offers high monthly income and capital appreciation by investing in discounted CEFs, actively managed by Saba Capital's activist strategy. Recent activism, especially with BlackRock CEFs, has successfully narrowed discounts and boosted returns, but future gains from activism may be limited. CEFS outperforms peer funds and maintains consistent distributions, but risks include interest rate hedges and the potential widening of CEF discounts in corrections.

CEFS: This ETF Holds CEFS, Pays Monthly Plus Year-End Bonuses

2 Picks For Monthly Distributions And Participating With Activists

Closed-end funds offer unique opportunities due to the structure, which allows for the share price to swing wildly different from the underlying portfolio value. There are activist groups that specifically target these in a way to take advantage of this feature within the closed-end fund space. On top of that, it also provides significant diversification by investing in already diversified CEFs, and additionally, this can translate into strong monthly distributions.

2 Picks For Monthly Distributions And Participating With Activists

CEFS Vs. PCEF: Saba's Management Is Worth The Fees

Closed-end funds offer high dividends and liquidity, appealing to income investors, but require skillful timing due to NAV volatility. Invesco CEF Income Composite ETF provides diversified CEF exposure, balancing bonds and equity covered calls, with a 10% SEC yield. Saba Closed-End Funds ETF actively manages CEFs trading at a discount to NAV, offering a 9% yield and strong total returns.

CEFS Vs. PCEF: Saba's Management Is Worth The Fees

CEFS: In-Depth Performance Analysis And Comparison

CEFS is an actively managed fund investing in a diversified portfolio of closed-end funds. CEFS's strategy has worked exceedingly well in the past, with the fund outperforming the vast majority of its peers since inception, and for most relevant time periods. An in-depth analysis and comparison of the fund's performance versus that of other closed-end funds follows.

CEFS: In-Depth Performance Analysis And Comparison

CEFS: A 'Non-Discounted' Take On Discounted CEFs (In A Bear Market)

Saba Closed-End Funds ETF leverages NAV discount arbitrage and activist strategies to narrow discounts, which helps justify its high expense ratio. The fund's strategy includes investing at least 80% in CEFs, with flexibility in derivatives, shorts, and leverage, providing a diversified income stream. CEFS leverages NAV discount arbitrage and engages in activist strategies to narrow discounts, which helps justify its high expense ratio.

CEFS: A 'Non-Discounted' Take On Discounted CEFs (In A Bear Market)

Should You Invest $100,000 In Today's Market?

The market is experiencing a correction, with a potential bear market looming, making gradual investment over 3-6 months advisable for long-term investors. Understanding personal risk tolerance is crucial before investing, as it dictates how one handles market downturns and portfolio drawdowns. The article presents three different investment strategies. We are going to discuss how strategically you can deploy your capital on a gradual basis.

Should You Invest $100,000 In Today's Market?

Very Bad News For Closed-End Funds

Closed-end funds offer unique opportunities due to their discount/premium mechanisms, allowing share prices to deviate from net asset value per share in a wild manner. In general, CEFs often provide diverse exposure across equity and fixed-income portfolios, and they even offer exposure to hybrid portfolios, but also allowing for sector-specific exposure. One important note is that not all premiums or discounts indicate a buying or selling opportunity; instead, it can make more sense to examine relative value over historical periods.

Very Bad News For Closed-End Funds

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