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Retirement Income: High-Yield, Sustainable Capital CEF Portfolio Continues To Shine At One Year

Published Tue, 04 Oct 2016 12:43:13 -0400 on Seeking Alpha

Updating the High-Yield, Sustainable Capital CEF Portfolio At One Year
At the end of 2015's third quarter I proposed a model portfolio of closed-end funds designed to to generate high current income with capital sustainability: The Stable-Capital, High Current-Income Portfolio ( A CEF Portfolio For High Current Income With Capital Preservation). Those objectives are, of course, the cliché of the income-investing world. It's rare to find an income fund that doesn't espouse those objectives. But at the time I felt market forces had converged to open a genuine opportunity consistent with those objectives.

As seen in the chart above, equity markets were sharply down. Closed-end funds, as they typically do, exaggerated the market turndown. Deep discounts, well out of normal ranges, were the order of the day for many CEFs as something akin to panic selling drove sharp declines in closed-end funds.
That portfolio now has run through a full year. I'll review its performance here.
I'll not spend time here rehashing the details of the portfolio; interested readers should refer to the cited article. But I will say that one incentive for building this model was my frustration with the performances of ETFs, ETNs and CEFs that offer portfolios of CEFs. Another was to emphasize how closed-end funds can, on occasion, offer excellent entry points because they tend to be subject to panic selling during periods of market turmoil. The third quarter was... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
NICHOLAS-APP CONV & INCOME 5.68   0.0 0.00 0.00 10.90
H&Q HEALTHCARE INVESTORS 18.84   0.0 0.00 1.82 9.71
EATON VANCE TAX MAN GLOBAL BUY WRITE OPP FUND 9.67   0.0 0.00 0.00 9.03
EATON VANCE TAX-MAN DIVERSIFIED EQUITY 12.14   0.0 0.00 0.00 8.37
COHEN & STEERS CLOSED-END OPPORTUNITY FUND 13.11   0.0 0.00 0.00 8.11
PIMCO STRATEGIC GLOBAL GOVERNMENT FUND 9.17   0.0 0.00 0.00 8.04
COHEN & STEERS TOTAL RETURN REALTY FUND 14.98   0.0 0.00 0.00 6.56
POWERSHARES CEF INCOME COMPOSITE 22.75   0.0 0.00 0.00 6.04
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND FUND 87.32   0.0 0.00 4.60 5.27
EATON VANCE MUNICIPAL BOND FUND 12.78   0.0 0.00 0.00 4.00

NICHOLAS-APP CONV & INCOME - NCV
NICHOLAS-APP CONV & INCOME - NCV  


Older articles featuring Nicholas-app Conv & Income (NCV):
AllianzGI Convertible & Income Fund Declares Quarterly Distribution - 5.625% Series A Cumulative Preferred Shares
AllianzGI Convertible & Income Fund Declares Quarterly Distribution - 5.625% Series A Cumulative Preferred Shares
AllianzGI Convertible & Income Fund Declares Quarterly Distribution - 5.625% Series A Cumulative Preferred Shares
Should You Buy Highest-Yielding CEFs? Don't Try This At Home
Yield Hunter CEF Report April 2019: Distribution Cuts Finally Plague PIMCO
AllianzGI Convertible & Income Fund Declares Quarterly Distribution - 5.625% Series A Cumulative Preferred Shares
AllianzGI Convertible & Income Fund Declares Quarterly Distribution - 5.625% Series A Cumulative Preferred Shares
Monthly Dividends From 154 SML Cap Equities And 70 November Funds
Monthly Dividends From 150 SML Equities & 70 SML October Funds
AllianzGI Convertible & Income Fund Declares Initial Distribution - 5.625% Series A Cumulative Preferred Shares

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