The best-rated closed-end funds for the month of April focused on equity income, foreign/international funds and municipals, both national and state.
The equity income and municipal funds show that the U.S. domestic landscape in terms of closed-end funds is governed by a search for yield in an ever-more difficult environment.
The Federal Reserve's reduction of interest rates this year led to financial asset prices in general rising. That's similar to the period in 2001-2002 when rates were slashed and asset prices, including residential property, soared. As asset prices rise, yields fall. The assets that deliver yield in the current environment include commercial real estate (REIT) funds, municipals and dividend paying equities.
Although municipals are but one part of a broad U.S. debt market, their revenue stream generated by the taxing power of government and their tax-advantage status make them attractive in the generally risk-averse current environment.One other sector in the U.S. and globally that has performed well is energy and natural resources, driven by the relentless rise in the price of crude and gold. Outside of the U.S., there are various regions that investors can take positions in. Closed-end funds focused on overseas markets have seen their returns assisted by more favorable economic conditions overseas, as well as a weak dollar; when foreign returns are converted back to U.S. dollars, returns are amplified further.
|Fund||TSC Rating||Ticker||1 Month Return||3 Month Return||Category/Sector|
|BlackRock Real Asset Equity Trust||A+||BCF||2.76||8.41||Equity Income|
|Eaton Vance Tax Adv Glob Div Inc||A+||ETG||6.86||-0.52||Global Equity|
|BlackRock Global Energy & Resources||A+||BGR||5.96||10.42||Sector - Energy/Natural Res|
|Eaton Vance Tax Advantage Div Inc||A||EVT||6.35||0.34||Equity Income|
|Aberdeen Australia Equity Fund||A||IAF||0.3||3.47||Non-US Equity|
|Eaton Vance Tax Adv Global Div Opp||A||ETO||8.72||6.07||Global Equity|
|Nuveen Select Tax-Free Inc 3||A||NXR||1.02||4.19||Municipal - National|
|BlackRock CA Municipal Income Trust||A||BFZ||1.02||0.92||Municipal Single State|
|Lazard Global Total Return&Income||A||LGI||5.07||1.4||Global Equity|
|Western Asset Managed Municipals||A||MMU||0.78||0.71||Municipal - National|
|Nuveen Muni Value||A||NUV||1.93||2.34||Municipal - National|
|BlackRock NY Muni Bond Trust||A||BQH||1||-3.96||Municipal Single State|
|Nuveen Select T-F Inc Portf 2||A||NXQ||3.57||4.77||Municipal - National|
|BlackRock CA Muni Bond Trust||A||BZA||-0.53||2.01||Municipal Single State|
|BlackRock S&P Qual Rkg Glob Eq Mgd||A||BQY||1.51||-0.1||Global Equity|
|Mexico Fund||A||MXF||-2.3||0.67||Non-US Equity|
|Emerging Market Telecom Fund||A-||ETF||1.84||-1.94||Emerging Market Equity|
|Boulder Total Return Fund||A-||BTF||3.02||-2.83||Equity Income|
|BlackRock Enhanced Capital and Inc||A-||CII||3.5||-1.18||Growth & Income|