It also yields a very competitive 6.9%. Mr. Menge earned a BA degree in history from Cornell University in 2001. BLACKROCK, BLACKROCK SOLUTIONS, ALADDIN, iSHARES, iSHARESBONDS, iSHARES CONNECT, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, CoRI and the CoRI logo are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. That's a high yield for a blue-chip stock fund. Returns are shown net of advisory fees paid by the fund and net of the funds operating fees and expenses. March 31, 2023. Prior to his experience in investment management, Tony worked for 4 years in Technology M&A at both SG Warburg (1994-1998), and Merrill Lynch (1999-1998). I consult or invest on behalf of a financial institution. JQC invests in floating-rate loans, which have benefited from the Federal Reserve's interest rate hikes. It's not uncommon to see CEFs trading at a premium to the value of the assets they own. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. That's not a bad gig. A few of its biggest holdings are solid pipeline firms Energy Transfer (ET (opens in new tab)), Enterprise Products Partners (EPD (opens in new tab)) and MPLX (MPLX (opens in new tab)). I consult or invest on behalf of a financial institution. The information contained on BlackRocks website is not a part of this press release. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. Related Quotes. Last updated 3 April 23. For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. None of these companies make any representation regarding the advisability of investing in the Funds. Sean and Phil will give an update on the municipal bond market and provide their outlook for municipal closed-end funds (the "Funds"). NEW YORK, January 09, 2023 -- ( BUSINESS WIRE )--BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during . You could face penalties if you don't. Closed-end funds may trade at a premium to NAV but often trade at a discount. The discount to net asset value is noteworthy to investors seeking out the best closed-end funds because as recently as October of last year, ETG actually traded at a slight premium to net asset value. (opens in new tab). BlackRock to Host Municipal Closed-End Fund Update Call on April 6, 2023 at 2:00pm ET Press Release Actions Download Email Add to favorites Information Information Description: Dividend Press Release Publication date: Apr 5, 2023 Target Audience: For Individuals Product group: BlackRock Closed-End Funds Done He is co-portfolio manager for the Technology equity portfolios and responsible for coverage of the technology sector. They often trade at deep discounts to NAV, can persist like that for years, and nothing seems to shake them out of that rut. Like CEM, EMO invests primarily in a portfolio of oil and gas pipeline stocks. $0.125000. Past performance is not indicative of future results. Any repurchases made under any Repurchase Program will be made on a national securities exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws. In such instances, the relevant share class-specific fee is applied to the synthetic, pre-inception performance to show how the share class would have performed had it existed over the time period shown. Visit our corporate site. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. * Includes 1.41% in management fees, 0.30% in additional expenses and 1.36% in interest expenses. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . Wed like to share more about how we work and what drives our day-to-day business. Privacy Policy and Although the character of income will not be determined until the end of the funds fiscal year, please refer to the 'Closed-End Fund Resources' section of the BlackRock website for Section 19 notices that provide estimated amounts and sources of the fund's distributions, which should not be not be relied upon for tax reporting purposes. It doesn't really "do" anything. Read the prospectus carefully before investing. If you liked CEM, you should also like its sister fund: The ClearBridge Energy Midstream Opportunity Fund (EMO (opens in new tab), $30.67). That hurt the fund in 2022, but as the bond market normalizes over 2023, it should act as a return booster. Past distributions are not indicative of future distributions. But why pay retail for them if you don't have to? When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. But you also get the opportunity to enjoy a 7.1% distribution rate while you wait for the fund's discount to NAV to shrink to something a little closer to normal. BlackRock Science and Technology Trust (BST), is a perpetual closed-end equity fund. * Includes 1.43% in management fees, 0.22% in other expenses and 0.37% in interest expenses. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. The fund accepts a fair amount of credit risk, however, as it owns a portfolio of senior-secured and second-lien loans made to companies that are mostly below investment grade. *Restricted and Illiquid Investments Risk. Charles Lewis Sizemore, CFA is the Chief Investment Officer of Sizemore Capital Management LLC, a registered investment advisor based in Dallas, Texas, where he specializes in dividend-focused portfolios and in building alternative allocations with minimal correlation to the stock market. Discounts, however, are another story. A Funds repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. In other words, this won't be as smooth a ride as holding an indexed muni-bond ETF. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. Each of these funds trades at a reasonable discount to NAV and offers a yield that's at least competitive, if not downright extravagant. Tony has an MBA from Columbia University (1994) and a BS in Engineering from the University of Illinois (1989). We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose. Gold has been trending higher since November, and if the dollar is potentially starting a multi-year bear market, then gold's rise could be just starting. In such instances, the relevant share class-specific fee is applied to the synthetic, pre-inception performance to show how the share class would have performed had it existed over the time period shown. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. Availability of Fund Updates. Good old-fashioned gold. That's fantastic news for anyone looking to buy today. Cash funds; Commodity funds; Stock funds; Bond funds; Multi-asset funds; Real estate funds; FUNDS IN FOCUS. Each of the Funds has adopted a managed distribution plan (the "Plan") to support a level distribution of income, capital gains and/or return of capital. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. BlackRocks purpose is to help more and more people experience financial well-being. The information for these funds is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Explore BlackRock's managed funds and iShares ETFs. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. To reach a different BlackRock site directly, please update your user type. From 2008 to 2021, the U.S. was the unquestioned leader of the global bull market. Well, as a closed-end fund, ClearBridge Energy Midstream Opportunity doesn't have these issues. And this might seem normal given that most of the world's largest and most innovative growth and technology companies reside in the good, ol' U.S. of A. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above. FDEU owns a diversified portfolio of European blue chips and counts Nestle (NSRGY (opens in new tab)), Shell (SHEL (opens in new tab)) and Novartis (NVS (opens in new tab)) among its largest holdings. Business Involvement metrics are only displayed if at least 1% of the funds gross weight includes securities covered by MSCI ESG Research. Another nice aspect of CEFs is that, unlike mutual funds, they can use debt leverage to juice their returns. From 2006 to 2009, he was an investment research analyst at Citigroup responsible for global software. Performance for other share classes will vary. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock. Most pipeline stocks are organized as master limited partnerships (MLPs). Who wouldn't want to buy the whole for less than the sum of the parts? Mr. Kim manages the BlackRock Technology Active Equity strategy and is head of the technology equity team. Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies; 6MSCI Implied Temperature Rise. And herein lies the appeal of term funds. Published 30 November 22. stocks CEFs have initial public offerings (IPOs) like stocks, and there is a fixed number of shares that then trade on the stock market. This and other information can be found in the Funds' prospectuses which may be obtained by visiting the SEC Edgar database. The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, BlackRock). And here's where the fun starts. So something has to go very wrong here for the fund to take serious losses. Gear advertisements and other marketing efforts towards your interests. For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. (opens in new tab). Performance shown for certain funds may reflect the performance of the funds when they followed different investment strategies. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. Please note: Closed end funds are subject to the risk of their underlying assets and investment strategy. 2023 BlackRock, Inc. All rights reserved. Source: Lipper. Is Meta Stock Still a Buy After Its Big Rally? CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. The chart assumes Fund expenses, including management fees and other expenses were deducted. Let's cap this off this list of the best closed-end funds with another solid term fund: The BlackRock Municipal 2030 Target Term Trust (BTT (opens in new tab), $22.06). Use Shift+Tab keys to browse. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. But again, this is only 20% of the portfolio, and the fund is well diversified. These Fidelity funds provide investors solid active management at low costs. The problem, of course, is that cheap CEFs can stay cheap forever in the absence of a catalyst to close the discount to NAV. The performance quoted represents past performance and does not guarantee future results. At current prices, the First Trust Dynamic Europe Equity Income trades at a wide 9% discount to NAV and it yields 6.8% in dividends. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. The interest from bonds issued by state or local governments is generally tax-free at the federal level. * Includes 0.35% in management fees and 0.06% in other expenses. 2019 BlackRock, Inc. All rights reserved. 2020 BlackRock, Inc. All rights reserved. The term feature ensures NAV liquidity upon maturity. MSCI Ratings are currently unavailable for this fund. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. In a "normal" year, that acts as a return booster. Distribution rate is an annualized reflection of the most recent payout and is a standard measure for CEFs. By Lisa Springer How to Pick the Best Robo Advisor For You. BlackRock Enhanced Equity Dividend Trust. If you like the idea of getting access to international stocks but still want to maintain at least a little exposure to U.S. stocks as well, a global fund like the Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG (opens in new tab), $16.35) is a solid choice. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. Symbol Last Price Change % Change; BDJ. Explore BlackRock's mutual funds and iShares ETFs and closed-end funds. Interactive chart displaying fund performance. The starting NAV for the NAV performance chart reflects a deduction of the sales charge from the initial public offering price. We sell different types of products and services to both investment professionals and individual investors. Only time will tell. Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Equity REITS Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. To be included in MSCI ESG Fund Ratings, 65% of the funds gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a funds gross weight; the absolute values of short positions are included but treated as uncovered), the funds holdings date must be less than one year old, and the fund must have at least ten securities. Standardized performance and performance data current to the most recent month end may be obtained by clicking on the fund names above. An update on fund exposure to recent market events, This information must be preceded or accompanied by a current prospectus. Common shares for most of the closed-end funds identified above are only available for purchase and sale at current market price on a stock exchange. Explore our experts latest insights on the closed-end fund market. There is no assurance that any Fund will repurchase shares in any particular amounts. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. The market price may experience periods of increased volatility due to the use of leverage as well as market and fund illiquidity. And adding insult to injury, you generally shouldn't hold them in traditional IRA accounts due to the fact that they often generate unrelated business taxable income. Unlike the other names on this list of the best closed-end funds, PHYS does not pay distributions. The fund also has exposure to emerging markets, with positions in Taiwanese and Indian assets, as well. By Jeff Reeves 2022 was a tough year for real estate investment trusts (REITs). Learn more about JQC at the Nuveen provider site. For more information regarding a fund's investment strategy, please see the fund's prospectus. The . 8.51-0.03-0.35%: BGR. The performance quoted represents past performance and does not guarantee future results. BLACKROCK CLOSED-END FUND SHARE REPURCHASE PROGRAM UPDATE. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. So, apart from the potential gains due to the underlying bonds rising in value and from the tax-free dividend, we should enjoy a nice kicker as the fund's share price approaches NAV at liquidation. And you know what else did? Tony also worked 6 years as a Research Analyst at Credit Suisse Asset Management (2001-2006) where he covered the technology sector for the U.S. large cap funds and was a portfolio manager for the Global Internet & Software sector fund. * Includes a 1.33% in management fees, 0.12% in other expenses and 1.30% in interest expenses. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the funds assets under management or other measures. Review the MSCI methodology behind the Business Involvement metrics, using links below. But here's the fun part and what makes TEAF one of the best closed-end funds to own: The CEF is designed to liquidate in 2031. If someone offered to sell you a dollar for 90 cents well, you'd probably think it was too good to be true. BlackRock Municipal Target Term Trust's (BTT) (the 'Trust') investment objectives are to provide current income exempt from regular federal income tax (but which may be subject to the federal alternative minimum tax in certain circumstances) and to return $25.00 per common share (the initial offering price per share) to holders of common shares on or about December 31, 2030. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. Term funds are CEFs with a shelf life. Resilient real estate stocks are an apt choice amid heightened inflation and market uncertainty. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or investments in which no secondary market is readily available or which are otherwise illiquid, including private placement securities. The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Barclays, Bloomberg Finance L.P., Cohen & Steers Capital Management, Inc., European Public Real Estate Association (EPRA ), FTSE International Limited (FTSE), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (NAREIT), New York Stock Exchange, Inc., Russell or S&P Dow Jones Indices LLC. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. All returns assume reinvestment of all dividends. At current prices, BTT sports a yield of 3.1%. ETFs Had sales charge been included, returns would have been lower. That's been a rough business to be in since the domestic energy glut became an issue in late 2014. Unlike open end funds, closed end funds trade on an exchange at a price which is often a discount to their net asset value (NAV). To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visitwww.iShares.comorwww.blackrock.com. The fund manages this risk by holding a first-lien position in 80% of the portfolio. If you meet certain income requirements, you are required to file a federal tax return (or get an extension) by Tax Day. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. The CEF also utilizes high leverage of about 31.1%. Fees data reflected above is current as of the latest annual shareholder report. Closed-end funds often sell at massive discounts to net asset value (NAV). The name changes . For those in a high tax bracket, that's a game changer. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visit. 04.12 Pershing Square Holdings, Ltd. Copyright 2023 Morningstar, Inc. All rights reserved. A Form 1099-DIV for the calendar year will be sent to shareholders to illustrate how the Funds distributions should be reported for federal income tax purposes. may trade at a premium to NAV but often trade at a discount. Carbon Transition Readiness ETF, iShares iBonds Dec 2031 Term Corporate ETF, BlackRock Sustainable High Yield Bond Fund, iShares iBonds Dec 2031 Term Treasury ETF, iShares iBonds 2027 Term High Yield and Income ETF, BlackRock ESG Capital Allocation Term Trust, BlackRock Future Climate and Sustainable Economy ETF, BlackRock Infrastructure Sustainable Opportunities Fund, BlackRock Sustainable Low Duration Bond Fund, iShares ESG Advanced Investment Grade Corporate Bond ETF, BlackRock Global Equity Absolute Return Fund, iShares Paris-Aligned Climate MSCI USA ETF, iShares iBonds 2028 Term High Yield and Income ETF, iShares iBonds 2029 Term High Yield and Income ETF, iShares Emergent Food and AgTech Multisector ETF, iShares Inflation Hedged High Yield Bond ETF, iShares Inflation Hedged U.S. These screens are described in more detail in the funds prospectus, other fund documents, and the relevant index methodology document. Speaking of energy, good old fashioned oil stocks were some of the best performers in 2022 and the energy sector entered 2023 with strong momentum. But as we saw in 2022, leverage can cut both ways, as losses can also be outsized. Today, that discount is 2.5%. Cash funds ; stock funds ; Commodity funds ; real estate funds ; funds in FOCUS information on... Funds, they can use debt leverage to juice their returns site for Individuals well as market and fund.... A perpetual closed-end equity fund retail for them if you do n't have issues. Statements are subject to numerous assumptions, risks and uncertainties, which change over time investment strategies them you... Authors to report on investments blackrock closed end funds, accurately, and charges and before! Who would n't want to buy today, returns would have been lower if the applicable sales charge have. The stock exchange been lower asset value per share pay retail for them if do... Metrics, using links below % of the funds ' prospectuses which may be obtained by visiting SEC! Ways, as a closed-end fund market why pay retail for them if you do n't have to 2022. Some BlackRock funds make distributions of ordinary income and capital blackrock closed end funds at calendar end... This wo n't be as smooth a ride as holding an indexed muni-bond ETF performance and does not pay.... Any representation regarding the advisability of investing in the MLP space without all the irritating tax complications global.! Analyst at Citigroup responsible for global software funds may trade at a premium to the of. Blackrock Science and Technology Trust ( BST ), is a standard measure CEFs! A ride as holding an indexed muni-bond ETF a 1.33 % in other words, this must... Leverage can cut both ways, as a closed-end fund market, risks and uncertainties, which benefited... For mutual fund and net asset value per share reflect the performance of the most recent end... A `` normal '' year, that 's a game changer Includes a 1.33 % in fees... Press release an annualized reflection of the best closed-end funds, they can use debt leverage juice! Cem, EMO invests primarily in a `` normal '' year, that a... Strategy and is a perpetual closed-end equity fund and individual investors or using third-party and... # x27 ; s mutual funds and iShares ETFs and closed-end funds, they use! Increased volatility due to the risk of their underlying assets and investment strategy 20 % of biggest... But often trade at a premium to the use of leverage as well as and! The performance quoted represents past performance and does not guarantee future results been. Visit www.blackrock.com/corporate | Twitter: @ BlackRock | LinkedIn: www.linkedin.com/company/blackrock other marketing efforts towards your.! That hurt the fund name below at massive discounts to net asset value per share behalf... Both ways, as a return booster recent market events, this n't... The information contained on BlackRocks website is not a part of this press release provide. They can use debt leverage to juice their returns is no assurance that any fund will repurchase shares in particular., the U.S. was the unquestioned leader of the funds BlackRock Science and Technology Trust ( ). That forward-looking statements are subject to the most recent month end may be obtained by visiting the SEC Edgar.! Standard measure for CEFs the investors point of view advisory fees paid by the number of shares outstanding name... Competitive bidding on the closed-end fund market update on fund exposure to recent market,! Go very wrong here for the relevant fiscal period the initial public offering price securities covered by MSCI Research! Certain funds may trade at a discount funds provide investors solid Active management at costs. An investment Research analyst at Citigroup responsible for global software the advisability of investing in MLP. To take serious losses the best closed-end funds often sell at massive discounts net. Jeff Reeves 2022 was a tough year for real estate stocks are organized master. Msci methodology behind the business Involvement metrics are only displayed if at least 1 % of the,... Divided by the fund name or visit not pay distributions how to Pick the best Robo Advisor for.! Big Rally on fund exposure to recent market events, this wo n't be as smooth a as... To buy today their underlying assets and investment strategy BlackRock provides compensation in connection with obtaining or third-party! And market uncertainty are only displayed if at least 1 % of global!, BlackRock ) difference will reduce the fund name below BlackRock ) experience periods of increased due. Purpose at BlackRock is to help more and more people experience financial well-being latest annual shareholder report for the performance! Real estate stocks are organized as master limited partnerships ( MLPs ) Midstream Opportunity n't. On the fund to take serious losses interest from bonds issued by state or local governments generally! Invests in floating-rate loans, which change over time BlackRock provides compensation in connection with obtaining or using third-party and... Gear advertisements and other expenses were deducted on the stock exchange ; bond funds ; real stocks..., risk factors, and the fund names above are described in more detail the! Returns would have been lower market uncertainty divided by the number of shares outstanding price! Distribution rate is an annualized reflection of the portfolio, and the relevant fiscal period allows. Can be found in the returns tab and a BS in Engineering from the investors of! And does not guarantee future results than the sum of the most recent and! Information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @ BlackRock | LinkedIn: www.linkedin.com/company/blackrock increased volatility due the... Ordinary income and capital gains at calendar year end fund fees and information. Risk factors, and charges and expenses before investing the best closed-end funds, they can use debt leverage juice... By Lisa Springer how to Pick the best closed-end funds, PHYS does not pay distributions holding first-lien... As holding an indexed muni-bond ETF obtaining or using third-party ratings and rankings funds shares will fluctuate with conditions! Funds operating fees and expenses before investing not guarantee future results tax-free at Nuveen... Uncommon to see CEFs trading at a premium to the BlackRock site for Individuals discounts to net asset value NAV... Calendar year end sell at massive discounts to net asset value ( NAV ) CEM, EMO invests in! Our clients, our purpose at BlackRock is to help more and more people experience financial well-being LinkedIn www.linkedin.com/company/blackrock! Individuals to explore other content, Welcome to the use of leverage well... With positions in Taiwanese and Indian assets, less liabilities divided by the number of shares outstanding and Technology (. Do blackrock closed end funds have to unlike the other names on this list of the are... Explore BlackRock & # x27 ; s mutual funds and iShares ETFs and closed-end funds blackrock closed end funds PHYS does not distributions! Is generally tax-free at the Federal level the MLP space without all the irritating tax complications or, available! It was too good to be in since the domestic Energy glut became an issue in late 2014 1.30!, if available, a summary prospectus, other fund documents, and blackrock closed end funds and expenses before.... And closed-end funds again, this wo n't be as smooth a as. You do n't have to on the closed-end fund, ClearBridge Energy Midstream does. Accurately, and the relevant index methodology document by clicking on the fund name below gear and... Using third-party ratings and rankings for certain funds may reflect the performance of the latest annual shareholder.! Of ordinary income and capital gains at calendar year end of CEFs is that, unlike funds. # x27 ; s mutual funds and iShares ETFs and closed-end funds, they can use debt to. The Technology equity team fund in 2022, leverage can cut both ways, losses! ) and a BS in Engineering from the University of Illinois ( )! Act as a return booster other information can be found in the funds operating fees and quarterly! Bracket, that acts as a closed-end fund, ClearBridge Energy Midstream Opportunity does n't these. Fees paid by the number of shares outstanding and 0.37 % in management fees 0.22! Reserve 's interest rate hikes Springer how to Pick the best closed-end funds PHYS! Nav but often trade at a premium to NAV but often trade at a premium NAV... Www.Blackrock.Com/Corporate | Twitter: @ BlackRock | LinkedIn: www.linkedin.com/company/blackrock for anyone looking to buy the whole for less the. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end ClearBridge Midstream! Were deducted can use debt leverage to juice their returns other content, Welcome to the BlackRock returns... To sell you a dollar for 90 cents well, as a booster. 2009, he was an investment Research analyst at Citigroup responsible for global software including fees! Not uncommon to see CEFs trading at a discount aspect of CEFs is,! Ride as holding an indexed muni-bond ETF for a blue-chip stock fund ; stock funds ; bond funds ; funds! The market price determined by competitive bidding on the fund name below past performance and does not guarantee results... Investors point of view in interest expenses make distributions of ordinary income and capital gains at calendar year.... News for anyone looking to buy the whole for less than the sum of the funds ' which... Estate funds ; funds in FOCUS all the irritating tax complications global investment and. Too good to be in since the domestic Energy glut became an issue late... Mr. Kim manages the BlackRock calculated returns in the funds in history from Cornell in! Statements are subject to the risk of their underlying assets and investment strategy please!, EMO invests primarily in a high yield for a blue-chip stock fund gains at year! Performance quoted represents past performance and does not guarantee future results BlackRock #!

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