Closed-End Fund Comparisons
Closed-End Fund Comparisons charts the closed-end funds we track in a category, such as Fixed Income, by their current premium or discount to net asset value against a baseline from each fund's own history: the 20-day or 52-week average, or the 52-week low or high. Funds below the line have a wider discount, or a smaller premium, than their baseline. Members of any Premium plan can pick any category and baseline; everyone else can preview Fixed Income against the 52-week average.
What is Closed-End Fund Comparisons?
A closed-end fund has a fixed number of shares that trade on an exchange, so its share price can sit above or below the value of what it owns, its net asset value (NAV) per share. The gap is the fund's premium or discount. Closed-End Fund Comparisons puts the closed-end funds we track in one category, such as Fixed Income, on a chart: each fund's current premium or discount against a baseline from its own history, such as its 52-week average. It shows at a glance which funds trade at a wider or narrower discount than usual.
How the comparison is worked out
- The funds. The closed-end funds we track in the category and sub-category you pick, with a NAV in our data from the past year. Categories and sub-categories come from our fund data.
- Current premium or discount. The previous trading day's closing price against the fund's NAV for that day, or its latest NAV in the past year: (price - NAV) / NAV. A fund at $9 with a NAV of $10 is at a 10% discount, shown as -10.0%.
- The baselines. The 20-day and 52-week average premium or discount, and the 52-week low and high: the lowest and highest daily premium or discount over the past year, from each day's closing price and NAV.
- The chart. Each dot is a fund: the baseline across the bottom, the current premium or discount up the side. The line marks where the two are equal. Green dots are at or above the baseline; red dots are below it, with a wider discount or a smaller premium than the baseline.
- Updates. The figures are worked out when you load the page, from the latest trading day's data.
The premium or discount uses the previous close and NAV, not live prices; the Price columns show the latest price and today's change.
What you can find out
Which closed-end funds trade at a wider discount than usual?
With the 52-Week Avg baseline, the red dots below the line are the funds whose discount is wider, or premium smaller, than their own 52-week average. Hover over a dot to see the fund and both numbers. Compare closed-end funds
Which funds are near their 52-week high or low premium?
Choose the 52-Week Low or 52-Week High baseline. Dots close to the line are near that level; the table shows the current, low and high side by side. Check the 52-week range
Has a fund's discount changed over the last month?
Choose the 20-Day Avg baseline. A dot far from the line has a current premium or discount well away from its 20-day average. Compare with the 20-day average
How does a fund's discount compare with others in its category?
Pick the category and sub-category in Comparison Group. Funds sit side by side on one chart, and the table under it lists their figures. Remove a fund to take it off the chart; Add puts it back. Pick a category
Which funds in a category pay the highest yield?
Sort the table by Div Yield. It is the indicative yield: the distributions we expect over the next year, divided by the price. See the yields
Where to find it
Menu: Stocks › For Premium Users › Reports › Closed End Funds, or go straight to /stocks/closed-end-funds-comparisons. For one table of the closed-end funds we track, with their yield and premium or discount, see the free Closed End Funds report under Stocks › Dividends.
Members of any Premium plan can pick any category, sub-category and baseline. Everyone else sees a preview: the Fixed Income funds against their 52-week average.
What the table shows
| Column | What it shows |
|---|---|
| Remove / Add | Takes the fund off the chart, or puts it back |
| Symbol | The fund's symbol |
| Price: Current | The latest price |
| Price: % Chg | The change from the previous close |
| Div Yield | The indicative yield: distributions we expect over the next year, divided by the price |
| Premium/Discount: Current | The previous close against the NAV; negative numbers are discounts |
| 20-Day Avg | The average premium or discount over the last 20 days |
| 52-Wk Avg | The average premium or discount over the last 252 trading days |
| 52-Wk Low | The lowest daily premium or discount in the past year |
| 52-Wk High | The highest daily premium or discount in the past year |
FAQ
- What is a closed-end fund's premium or discount?
- How far the fund's share price is above (a premium) or below (a discount) its net asset value (NAV) per share. A fund at $9 with a NAV of $10 trades at a 10% discount.
- How is the current premium or discount worked out?
- From the previous trading day's closing price and the fund's NAV for that day, or its latest NAV in the past year if that one is missing: (price - NAV) / NAV.
- What do the green and red dots mean?
- Green: the current premium or discount is at or above the baseline. Red: it is below, so the discount is wider, or the premium smaller, than the baseline.
- Which funds are included?
- The closed-end funds we track in the category and sub-category you pick that have a NAV in our data from the past year.
- Who can use Closed-End Fund Comparisons?
- Members of any Premium plan can choose any category, sub-category and baseline. Everyone else sees a preview: the Fixed Income funds against their 52-week average.
- Is a wide discount a buy signal?
- No. A discount can stay wide or widen further. The chart compares each fund with its own past, not where its price or NAV goes next.
Related
High-Yield Dividend Screens Dividend Increases and Dividend Comparisons Straddle and Volatility Compare Dividend CalendarTerms on this page
Net asset value (NAV) Closed-end fund Premium or discount to NAV Dividend yieldMarket Chameleon provides data, not investment advice.