Key stats
About Saba Closed-End Funds ETF
Expense ratio
5.81%
Home page
Inception date
Mar 20, 2017
CEFS offers closed-end funds in an ETF wrapper: An actively managed manager-of-managers strategy for income and capital appreciation. The fund manager uses a proprietary process to select a diverse group of closed-end funds trading at a discount with additional fundamental and quantitative analyses. The fund also hedges for interest rate risk. Underlying funds primarily focus on high yield securities supplemented by other non-fixed income high-income funds. Since most underlying funds are actively managed, CEFS`s composition and return pattern will be unpredictable. Investing in the fund, in essence, is betting on CEFS manager`s ability to pick other active managers. CEFS`s headline fee includes the fees of the underlying CEFs. Investors of CEFS should look through to net asset values of underlying closed-end funds to determine the CEFS`s true premium/discount, the premium/discount for the ETF itself only reflects the outer wrapper.
Classification
What's in the fund
Exposure type
Mutual fund
Bonds, Cash & Other100.00%
Mutual fund114.59%
Miscellaneous−2.24%
Cash−12.35%
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