This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Younger Closed-End Funds Get Lousy Grades Ratings initiated coverage of eight closed-end funds that accrued a track record of at least one year of risk and performance data by the end of June.

None of the closed-end funds that opened for business in June of 2007 received our top rating level of Excellent. Not even one managed a rating of Good or even Fair. All of the newly rated closed-end funds performed poorly in relation to all the other exchange-traded and closed-end funds we rate.

The highest-ranked fund of the bunch is the D-rated Van Kampen Dynamic Credit Opportunities Fund (VTA). Capital appreciation is a secondary goal to generating current income. To that end, the fund is paying out monthly installments at current 12-month yield of 11.66% that has mitigated some of the loss over the last year from investing in loans and other debt instruments.

Ranked slightly worse, at D-minus, is the Nuveen Tax-Advantage Dividend Growth Fund (JTD). This fund pays income quarterly, currently yielding 11.55%. Top holdings include Equitable Resources (EQT), Yum! Brands (YUM), AT&T (T) and Chevron (CVX).

Research Methodology Ratings condenses the available fund performance and risk data into a single composite opinion of each fund's risk-adjusted performance. This allows the unbiased identification of those funds that have historically done well and those that have underperformed the market. While there is no guarantee of future performance, these investment ratings provide a solid framework for making informed, timely investment decisions.

The funds listed below have all reached their one-year anniversary.

Newly Rated Closed-End Funds
Fund (Ticker) Initial Rating Inception Date Total Return 1 Year Total Return YTD Objective
Van Kampen Dynamic Credit Opp (VTA) D 6/26/2007 -21.84% -6.49% Loan Participation
Nuveen Tax-Advantaged Dividend Grth (JTD) D- 6/26/2007 -19.03% -5.42% Growth & Income
Calamos Global Dynamic Income Fd (CHW) E+ 6/26/2007 -19.35% -9.31% Global Equity
Delaware Enhanced Glb Div & Inc Fd (DEX) E+ 6/29/2007 -27.05% -6.80% Global Equity
MLP & Strategic Equity Fund Inc. (MTP) E 6/26/2007 -24.48% -1.06% Sector - Energy/Natural Res
Dividend Capital Strategic Gbl Rlty (DCW) E- 6/26/2007 -45.14% -16.31% Growth & Income
DWS RREEF Wrld Real Est & Tac Stra (DRP) E- 6/26/2007 -32.49% -8.40% Growth & Income
Gabelli Healthcare & Wellness Trust (GRX) E- 6/28/2007 -21.33% -12.41% Sector - Health/Biotechnology
Source: Ratings

Funds rated A or B are considered buy-rated on the basis of a track record of higher-than-average risk-adjusted performance. Funds at the C level are rated as hold, while underperformers at the D and E levels our model ranks are ranked as sell.

For an explanation of our ratings, click here.

Kevin Baker became the senior financial analyst for TSC Ratings upon the August 2006 acquisition of Weiss Ratings by, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs