Saba Closed-End Funds ETF
The Saba Closed-End Funds ETF (Bats: CEFS) is an actively-managed Exchange Traded Fund that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value, and hedging the portfolio’s exposure to rising interest rates.
CEFS offers access to Saba Capital’s portfolio managers who have years of experience trading and hedging closed-end funds. Saba Capital’s investment process includes proprietary models that dynamically rank closed-end funds across a variety of factors including yield, discount and quality of underlying securities. CEFS seeks to outperform index-based closed-end fund products by actively trading the portfolio to capture the widening and narrowing of discounts to net asset value.
Data as of: 8/16/2018
|Valuation As Of||8/16/2018|
Statement of Additional Information
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The performance data quoted represents past performance.
Saba Closed-End Funds ETF (Bats: CEFS) Declares First Monthly DistributionSaba Closed-End Funds ETF (Bats: CEFS) Declares First Monthly Distribution NEW YORK – April 6, 2017 Saba Capital Management, L.P., a New York-based alternative investment advisor, announced...read more
All of the distributions made from the inception of the Fund through its fiscal year end have been solely attributable to net investment income and capital gains. In the future, distributions could be attributable to net investment income, capital gains and / or from a return of capital. A return of capital is a return of all or part of a shareholder’s original investment in the Fund which could occur if the Fund makes distributions in an amount that exceeds the Fund’s net investment income and net capital gain.
The performance data quoted represents past performance. Past performance does not guarantee future results.
The investment return and principal value of an investment will fluctuate so that an investor's shares,
when sold or redeemed, may be worth more or less than their original cost and current performance may
be lower or higher than the performance quoted. Returns less than one year are not annualized.
*Distribution Yield is the annual yield an investor would receive if the most recent distribution remained the same going forward. The yield represents a single distribution from the fund and does not represent total return to the fund. The distribution yield is calculated by annualizing the most recent distribution and dividing it by the most recent NAV.
**30-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent month end. This figure reflects the interest earned during the period after deducting the Fund’s expenses for the period.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.