Covered Call CEFs
Covered call portfolios invest in stocks and also sell call options on stock indices or individual stocks. The indices include U.S. markets (NASDAQ, NYSE, S&P, and Dow) or international markets (FTSE, Nikkei). Some funds may also purchase put options to try to shield the portfolio from extreme decreases in the stock market. Potential return from these funds comes from stock dividends, premiums received from selling call options, and stock appreciation/depreciation.Covered call portfolio may be suitable for income seeker investors. Some of the fund’s yields are higher than your typical mutual funds, ETF, or stocks.
Best Closed End Funds
The top performing list is sorted based on its year to date performance in 2014. You can find the fund review, performance, expense ratio, dividend yield, fund’s NAV, management, leverage, fund’s sponsor, premium/discount info, etc.Top covered call closed end funds 2014 are:
- Columbia Seligman Premium Tech
- ING Risk Mgt Natural Resources
- Cohen & Steers Glb Income Builder
- EV Tax-Managed Buy-Write Income
- JH Hedged Equity & Income Fund
- GAMCO Nat Res Gold & Income
- ING Glb Eqty Div & Prem Opps
- Madison Strategic Sector Premium
- EV Tax-Managed Div Equity Income
- EV Tax-Managed Buy-Write Opps
- BlackRock Enhanced Cap & Income
- NFJ Div Interest & Premium
- First Trust Enhanced Equity Income
- Guggenheim Enhanced Equity Income
- Dow 30 Premium & Dividend Income
Columbia Seligman Premium Technology Growth Fund
This Columbia Seligman Premium Tech Fund has market value of $249 million. The fund is seeking growth of capital and current income. It is currently sold at $16.21. The CUSIP is 19842X109. The total distribution rate is 11.26%.More: Top 25 Highest Yield Closed End Funds 2013
The yearly performance of this ETF since the inception was 5.72% in 2010, -9.67% in 2011, 3.71% in 2012 and 12.05% in 2013. It has YTD return of 16.10%.
The top 3 stock in its holding are Synopsys (8.21%), Lam Research Corp (7.74%) and Teradyne Inc (6.63%). The top sectors are Semiconductors & Semiconductor Equipment (41.8%) and Software (25.8%).
ING Risk Management Natural Resources
This ING Risk Management Natural Resources Fund is managed by Paul Zemsky and Frank van Etten. The fund was incepted in October 2006. The dividends are paid quarterly. It has market value of $244.7 million. This top covered call closed end fund is currently traded at discount -9.82% from its NAV.The YTD return of this IRR fund is 12.27%. It has 5-year annualized return of 4.62% and 3-year annualized return of -1.84%. It has 1-star rating from Morningstar.
The top largest holdings are Exxon Mobil Corp (11.54%), Chevron Corp (8.88%) and Schlumberger Corp (6.55%). United States is the largest country holdings as of March 2014 (91.50%).
EV Tax-Managed Buy-Write Income
Morningstar analysts rank this EV Tax-Managed Buy-Write Income fund with 2-stars rating for their performance. The investment objective of this fund is to seek current income and gains. The market value is $386.5 million.More: Best Utilities Closed End Funds 2014
The benchmark of this ETB fund is S&P 500 Index. The YTD return is 8.16%. Since the inception in 2005, this best covered call closed end fund has the highest return in 2009 with 53.96% and the lowest in 2008 with -18.66%.
The top three holdings as of March 2014 are Apple Inc (3.47%), Google Inc (2.42%) and Exxon Mobil Corp (2.18%).
Covered Call Closed End Funds Returns
| No | Fund Name | Ticker | Yield | Assets | YTD Return % |
|---|---|---|---|---|---|
| 1 | Columbia Seligman Premium Tech | STK | 11.47% | $247M | 15.45% |
| 2 | ING Risk Mgt Natural Resources | IRR | 9.42% | $244M | 11.75% |
| 3 | Cohen & Steers Glb Inc Builder | INB | 9.21% | $280M | 9.69% |
| 4 | EV Tax-Managed Buy-Write Inc | ETB | 8.31% | $384M | 7.68% |
| 5 | JH Hedged Equity & Income Fund | HEQ | 8.37% | $247M | 7.57% |
| 6 | GAMCO Nat Res Gold & Income | GNT | 10.40% | $219M | 7.21% |
| 7 | ING Glb Eqty Div & Prem Opps | IGD | 9.76% | $911M | 7.06% |
| 8 | Madison Strategic Sector Prem | MSP | 8.37% | $72M | 6.07% |
| 9 | EV Tax-Managed Div Equity Inc | ETY | 9.06% | $1,671M | 5.42% |
| 10 | EV Tax-Managed Buy-Write Opps | ETV | 9.32% | $908M | 5.08% |
| 11 | BlackRock Enhanced Cap & Inc | CII | 8.55% | $619M | 4.89% |
| 12 | NFJ Div Interest & Premium | NFJ | 9.96% | $1,709M | 4.68% |
| 13 | First Trust Enhanced Equity In | FFA | 6.72% | $273M | 4.57% |
| 14 | Guggenheim Enhanced Equity Inc | GPM | 10.69% | $171M | 4.18% |
| 15 | Dow 30 Premium & Dividend Inc | DPD | 6.70% | $191M | 3.74% |
| 16 | Madison Covered Call & Eq Strt | MCN | 8.68% | $160M | 3.74% |
| 17 | Nuveen Equity Premium & Growth | JPG | 7.26% | $232M | 3.72% |
| 18 | EV Tax-Managed Global Fund | EXG | 9.73% | $3,027M | 3.67% |
| 19 | EV Enhanced Equity Income II | EOS | 8.03% | $623M | 3.32% |
| 20 | Dow 30 Enhanced Premium & Inc | DPO | 6.54% | $371M | 3.19% |
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